Posts Tagged ‘greed’
Posted by Warm Southern Breeze on Thursday, July 4, 2013
Reverend Carl Ralph Nuss, Cullman, Alabama, has plead GUILTY to violating Federal Law – Servicemembers Civil Relief Act.
This is how he treats our troops?
I have nothing good to say about this, save that he plead guilty.
I hope the judge gives this criminal the maximum sentence.
And you know what else is REALLY sad?
Reverend Carl R. Nuss
Carl R. Nuss is a minister of the Gospel.
Apparently – and sadly so – he doesn’t know the Gospel too well.
Hopefully, this criminal and his criminal enterprise will soon be put out of business.
Cullman Car Dealer Pleads Guilty to Violating Legal Protections for Active-Duty Service Members
FOR IMMEDIATE RELEASE
June 27, 2013
BIRMINGHAM – A Cullman used car dealer pleaded guilty today for violating federal protections for active-duty military service members by refusing to reduce the loan interest rate and repossessing the vehicle he sold to a man who was later deployed overseas with the Alabama National Guard, announced U.S. Attorney Joyce White Vance and FBI Special Agent in Charge Richard D. Schwein Jr.
CARL RALPH NUSS, 75, entered his guilty plea before U.S. Magistrate Judge Harwell G. Davis III to the two counts of the March indictment charging him with violating Read the rest of this entry »
Posted in - Business... None of yours, - Lost In Space: TOTALLY Discombobulated, - Read 'em and weep: The Daily News | Tagged: Active duty, Afghanistan, AL, Alabama, Alabama National Guard, Army, Associated Press, Car dealership, Carl Nuss, Carl R. Nuss, Carl Ralph Nuss, crime, criminal, criminal enterprise, Cullman, Cullman Alabama, Data Formats, discrimination, FAQs Help and Tutorials, FBI, federal, Federal Bureau of Investigation, Ford Explorer Sport Trac, geotag, geotagged, greed, Harwell Goodwin Davis, HTML, investigation, law, Light-emitting diode, loan, Markup Languages, money, National Guard, North Alabama Wholesale Autos, Nuss, PAL, Plea, repossession, Rev. Carl Nuss, Rev. Carl R. Nuss, service member, Servicemembers Civil Relief Act, television, Texas Hill Country, troops, war | Leave a Comment »
Posted by Warm Southern Breeze on Thursday, June 27, 2013
If you had an option, would you rather pay $10/month, or $80/month for a prescription medication that accomplished/did the exact same thing?
Research shows that the results of the 2 differently priced medicines have never been shown to be any better in any way.
Which would you choose?
What if your doctor prescribed the more expensive medication for you based on the fact that Read the rest of this entry »
Posted in - Do you feel like we do, Dr. Who?, - Read 'em and weep: The Daily News | Tagged: $62 billion, abuse, ACA, Affordable Care Act, Archives of Internal Medicine, avarice, Big Pharma, biotech, blood pressure, cardiology, cheat, crime, DO, doctor, drug, elderly, ethics, Forest Laboratories, fraud, GPO, greed, group purchasing organizations, health, healthcare, honesty, kickback, law, lie, manufacturers, MD, Medicaid, Medical device, Medicare, medication, medicine, money, Obamacare, patient, pharmaceutical, physician, PPACA, ProPublica, steal, taxes, taxpayer, teaching hospital, Thomas Aquinas, waste | Leave a Comment »
Posted by Warm Southern Breeze on Wednesday, May 29, 2013
If you like bacon, ham, pork sausage, barbecue, ribs, or any other pork product – including cold cuts & pizza – get ready to pay at least 2 – 4 times more, and for shortages.
Wall Street minions – who manage Smithfield, an American company no more – have no patriotic qualms about taking food off your table and out of your mouth to feed the mouths of the people who steal our nation’s military secrets, defraud our motion picture & music copyrights, and have an historical track record of Shanghai-ing anyone & everyone who gets in their way.
You think I’m kidding, or that I don’t know what I’m writing about?
Just recollect back a few months – oh, say about 7 – to Thanksgiving in November 2012 when pecans were 2x – 3x the price they were usually.
And why was that?
After all, pecan farmers had a record bumper crop… and that typically translates into lower prices for consumers.
It’s because the Chinese suddenly discovered they liked pecans, and were willing to pay premium prices (translate: much MORE then you’re willing to pay), and so the growers shipped pecans over to China.
As I continue to contend, IT’S ALL ABOUT THE MONEY.
Okay… so it may cost more. So what?
How about this?
Were you aware that the Chinese company that bought Smithfield sold pigs that had been fed a substance banned in the USA & England & other nations?
Shuanghui Group, China’s largest meat processor, sold pigs fed Clenbuterol in 2011. Here are three links about the ordeal.
And, would it surprise you to find out that Goldman Sachs is one of the top investors?
1.) “According to Chinese government data, 18 outbreaks of food-related clenbuterol poisoning occurred between 1998 and 2007. The most recent report indicates one person died and more than 1,700 others fell ill.”
2.) “Meanwhile, at Jiyuan Shuanghui’s processing facilities, of the 689 pigs awaiting slaughter, 19 tested positive for clenbuterol. Shuanghui, which counts Goldman Sachs among its investors, has shut down the Jiyuan branch affected by the contamination so it can conduct its own inspection.”
3.) “And in recent months the additive has earned notoriety in China after a string of people got sick from eating pork products full of it. Hundreds took ill in one incident in March, and this week, 286 people in Hunan province after eating pork contaminated with ractopamine, a chemical very similar to clenbuterol. Chinese livestock farmers began using clenbuterol in pig feed in the late 1980s to boost growth and get animals to market faster, but it was banned in 2002 as the health risks of eating the meat became better understood. Clenbuterol-tainted meat dizziness, headaches, hand tremors, and other unpleasantness. It’s especially risky for people with heart troubles.”
Shuanghui Agrees to Acquire Smithfield Foods for $4.72B
By Shruti Date Singh and Jeffrey McCracken – May 29, 2013
Shuanghui International Holdings Ltd., China’s biggest pork producer, agreed to acquire Smithfield Foods Inc. (SFD) for about $4.72 billion to boost supplies for the nation that’s the biggest consumer of the meat.
Closely held Shuanghui, parent of Henan Shuanghui Investment & Development Co. (000895), will pay $34 a share for the Smithfield, Virginia-based producer, both companies said today in a statement. The offer is 31 percent more than yesterday’s closing share price.
China’s consumption of pork is rising with the expansion of its middle class while there are questions being asked about the safety of the country’s food supply. Smithfield’s livestock unit is the world’s largest hog producer, bringing about 15.8 million of the animals to market a year, according to the company’s website. It owns 460 farms and has contracts with 2,100 others across 12 U.S. states.
The takeover is valued at $7.1 billion including debt, which would make it the largest Chinese takeover of a U.S. company, according to Read the rest of this entry »
Posted in - Business... None of yours, - Read 'em and weep: The Daily News | Tagged: Bacon, barbecue, BBQ, bellies, belly, Bloomberg, business, CBOT, Chicago, Chicago Board of Trade, China, corporate, cost, farmers, food, food poisoning, food safety, food security, Goldman Sachs, greed, ham, history, inflation, jobs, markets, money, Morgan Stanley, New York, pecans, Pizza, poison, pork, pork bellies, ribs, sausage, shank, Shuanghui, Simpson Thacher & Bartlett, Smithfield, Smithfield Foods, takeover, traitor, Troutman Sanders, Tyson Foods, United States | 2 Comments »
Posted by Warm Southern Breeze on Monday, May 27, 2013
Be sure to ask Sen. Sessions if he is going to voluntarily give up a portion of his Senatorial salary since the Senate last month passed a measure urging their members to forgo 20% of their salaries as part of sequestration.
Kudos, however, to Sen. Bob Corker R-TN, who has NEVER pocketed any of his Senate salary.
He donates it ALL to charity.
He’s worth over $19 Million.
Few senators sacrifice pay amid cuts
By Russell Berman – 04/03/13 05:00 AM ET
Only a few senators are planning to forfeit a portion of their salaries to charity or the U.S. Treasury while sequestration is in effect, according to a survey conducted by The Hill.
The Senate last month passed a measure urging members of the upper chamber to forgo 20 percent of their salary during sequestration. Most senators, however, are keeping quiet on whether they will follow through.
During a marathon session of budget votes, the Senate approved by voice vote an amendment from Sen. Lindsey Graham (R-S.C.) calling on lawmakers to donate 20 percent of their pay to charity or return it to the U.S. Treasury.In his floor speech, Graham noted that about 500,000 to 600,000 federal employees will be furloughed because of sequestration and that senators should “feel what other people are feeling.”
Yet in a survey of Senate offices by The Hill, only Graham and Sens. Mark Begich (D-Alaska), Claire McCaskill (Mo.), Mike Lee (R-Utah) and Jay Rockefeller (D-W.Va.) have indicated they would give up some of their take-home pay.
In a recent press release, Begich — who is up for reelection in 2014 — said Read the rest of this entry »
Posted in - Faith, Religion, Goodness - What is the Soul of a man?, - My Hometown is the sweetest place I know, - Politics... that "dirty" little "game" that first begins in the home., - Read 'em and weep: The Daily News | Tagged: avarice, Bob Corker, budget, Chuck Grassley, Claire McCaskill, DC, Democrats, GOP, government, Graham, greed, Jeff Sessions, Lindsey Graham, money, Nancy Pelosi, news, pay, politics, Republicans, salary, senate, senators, sequestration, sequster, taxes, treasury, wages, Washington DC | Leave a Comment »
Posted by Warm Southern Breeze on Friday, February 22, 2013
Realistically, what does that mean for you, your loved ones or friends if – God forbid – they’re hospitalized at Huntsville Hospital?
It means that when you, your loved ones’ or friends’ are a patient in the hospital, you or they could get an infection, or some other serious bug or problem while being treated for something else entirely different. And by so doing, it could make your stay more unpleasant, and in fact, could increase the risk of complications of your treatment – up to, and including your death – was well as increase the length of your stay, among other factors.
What does that mean for the Hospital?
Because insurance companies and Medicare/Medicaid have STOPPED paying for the treatment of preventable problems that are a direct result of hospitalization, it means that Huntsville Hospital will be stuck with the bill (the costs of treating their own mistakes upon you while you’re there)… and will try to pass the cost along to you to recoup the cost of the loss, which is a DIRECT result of their own sloppiness.
Huntsville Hospital has essentially become a monopolistic monstrosity of an enterprise, gobbling up numerous hospitals in the North Alabama region, including BOTH hospitals in Decatur, the only hospital in Athens, the only hospital in Red Bay, Helen Keller Hospital in Tuscumbia area of the Shoals, and the only hospital in Lawrence county.
Meanwhile, Huntsville hospital has fought tooth-and-nail to keep other hospitals OUT of competition in the Huntsville market, and spent untold millions of dollars in a protracted legal battle against Crestwood Hospital – and continues to spend millions to prevent Crestwood Hospital from offering services that would benefit the entire city and county.
Such anti-competitive practice has all been accomplished by and through the state of Alabama‘s Certificate Of Need Board.
The commentary of Mr. Burr Ingram – Huntsville Hospital’s official mouthpiece – which is contained in this article is entirely and wholly unwarranted, and weasel-like.
Not only that, but Huntsville Hospital is NOT a Nursing Magnet Hospital.
There are many things Huntsville Hospital is not.
And sadly, quality is one of them.
Watchdog Report: Consumer Reports gives both hospitals in Huntsville low safety ratings
Published: Thursday, July 12, 2012, 9:06 AM Updated: Thursday, July 12, 2012, 9:30 AM
HUNTSVILLE, Alabama – Consumer Reports magazine ranked the two hospitals in Huntsville as the least safe in Alabama. But the magazine’s list of hospitals is far from complete.
“We were kind of perplexed at some of what it reported,” said Burr Ingram, spokesman at Huntsville Hospital. “When you think about it, it’s fashionable for everyone to rate hospitals. And Consumer Reports is the latest to use public data that is available.
“But at times, it’s difficult to know how these ratings come about.”
Huntsville Hospital, The Huntsville Times
The magazine’s August edition lists scores in four safety categories. Both Huntsville Hospital and Crestwood Medical Center received low marks for poor communication with patients and for high rates of infection. Both received mediocre marks for high rates of re-admission and unnecessary scans.
Yet the report ranked Read the rest of this entry »
Posted in - My Hometown is the sweetest place I know, - Politics... that "dirty" little "game" that first begins in the home., - Read 'em and weep: The Daily News | Tagged: AL, Alabama, battle, Burr Ingram, CEO, Certificate of Need, CMS, CON, Consumer Reports, court, Crestwood, Crestwood Medical Center, David Spillers, disease, doctor, fight, greed, health, Health Reimbursement Account, healthcare, hospital, Huntsville, Huntsville Hospital, Huntsville Hospital System, Huntsville Times, infection, insurance, law, legal, liars, MD, Medicaid, Medicare, money, monopoly, news, Nurse, patient, physician, publicity, reimbursement, RN, sick, sickness, sicko, spokesman, state, United States, wellness | Leave a Comment »
Posted by Warm Southern Breeze on Sunday, January 20, 2013
By Ben Raines | email@example.com
January 20, 2013 at 6:11 AM, updated January 20, 2013 at 8:41 AM
Though it costs less to produce power in Alabama, the state’s residents and businesses pay more for electricity than customers in neighboring Georgia.
The price difference is substantial, according to an AL.com analysis of the annual reports of Alabama Power and Georgia Power, sister companies owned by Southern Co.
Between 2006 and 2011, Alabama Power produced the electricity sold to residential and commercial customers for $1.1 billion less than Georgia Power would have spent to make the same amount of electricity.
But despite that savings, Alabama Power charged its residential and commercial customers $1.5 billion more for electricity than Georgia Power would have charged during the six-year period.
|Difference in Alabama’s higher rates versus Georgia Power rates for commercial and residential
Alabama Power executives said that it was Read the rest of this entry »
Posted in - Business... None of yours, - Did they REALLY say that?, - My Hometown is the sweetest place I know | Tagged: AL.com, Alabama, Alabama Power, Alabama Power Company, Alabama Public Service Commission, Alagasco, analysis, bills, charge, electricity, Georgia, Georgia Power, greed, investigation, Jeremy Oden, money, net income, news, power, Southern Company, utilities, utility | Leave a Comment »
Posted by Warm Southern Breeze on Saturday, January 12, 2013
This time, it’s Hawaiian Pineapple Production.
And, it’s an old story.
Del Monte to End Pineapple Production in Hawaii
Last Crop Will Be Harvested in 2008
By John Fischer, About.com Guide
Pineapple Growing in Central Oahu;
Photo by John Fischer
Sugar and Pineapple – those two words used to be synonymous with Hawaii. In a year where Hawaiians of Filipino decent are celebrating their 100th anniversary in the islands, one of the two cash crops which brought them to Hawaii along with immigrants from China and Japan is facing another long-time grower abandoning the islands for cheaper production elsewhere.Where once sugar cane and pineapple fields were strewn across most of the Hawaiian islands, now you’ll find housing developments, resort hotels and condominiums and more often, just barren fields.
Del Monte to Cease Pineapple Production in Hawaii
Fresh Del Monte Produce Inc. announced last week that after 90 years in Hawaii, they will plant their last crop of pineapple on Oahu this month and will cease all operations by 2008 when that crop is harvested.Citing the expense of Read the rest of this entry »
Posted in - Business... None of yours, - Read 'em and weep: The Daily News | Tagged: corporations, Del Monte, Dole Food Company, greed, Hawaii, Hawaiian Islands, Honolulu Star-Bulletin, James Dole, jobs, Lanai, Maui, money, Oahu, profit, rapacious profits | Leave a Comment »
Posted by Warm Southern Breeze on Saturday, December 29, 2012
It’s been amazing to me to hear that many who have followed this issue – or even had some passing familiarity with the story – have been so blatantly ignorant of the abuses and frauds perpetrated by the corporate executives of the Hostess Corporation. Frankly, those who demonized the unfortunate demise of this iconic American enterprise blamed unions, and completely overlooked corporate malfeasance. However, this enterprise, which, in the course of their operations, once treated their employees well, was miserably raped by greedy and incompetent executives. Why they have not been charged with theft or fraud is beyond my comprehension.
Hostess Maneuver Deprived Pension
- Updated December 9, 2012, 8:03 p.m. ET
Hostess Brands Inc. said it used wages that were supposed to help fund employee pensions for the company’s operations as it sank toward bankruptcy.
After nearly 22 years at Hostess, former forklift operator Craig Davis is pondering his future on the front porch of his home in Emporia, Kan.
It isn’t clear how many of the Irving, Texas, company’s workers were affected by the move or how much money never wound up in their pension plans as promised.
After the company said in August 2011 that it would stop making pension contributions, the foregone wages weren’t put toward the pension. Nor were they restored.
After nearly 22 years at Hostess, former forklift operator Craig Davis is pondering his future on the front porch of his home in Emporia, Kansas. Ryan Nicholson for The Wall Street Journal
The maker of Twinkies, Ho-Hos and Wonder Bread filed for bankruptcy protection in January and shut down last month following a strike by one of the unions representing Hostess workers. A judge is overseeing the sale of company assets.
Gregory Rayburn, Hostess’s chief executive officer, said in an interview it is “terrible” that employee wages earmarked for the pension were steered elsewhere by the company.
“I think it’s like a lot of things in this case,” he added. “It’s not a good situation to have.”
Mr. Rayburn became chief executive in March and learned about the issue shortly before the company shut down, he said. “Whatever the circumstances were, whatever those decisions were, I wasn’t there,” he said.
A spokeswoman for Hostess’s previous top executive, Brian Driscoll, declined to comment.
Hostess hasn’t previously acknowledged that the foregone wages went toward its operations.
The maneuver probably doesn’t violate federal law because the money Hostess failed to put into the pension didn’t come directly from employees, experts said.
“It’s what lawyers call betrayal without remedy,” said James P. Baker, a partner at Baker & McKenzie LLP who specializes in employee benefits and isn’t involved in the Hostess case. “It’s sad, but that stuff does happen, unfortunately.”
The decision to cease pension contributions angered many employees. After the bankruptcy filing, Hostess tangled with Read the rest of this entry »
Posted in - Business... None of yours, - Did they REALLY say that?, - Read 'em and weep: The Daily News | Tagged: abuse, business, crime, fraud, greed, ho's, Hostess, Hostess Brands, incompetence, investigation, liars, pension, Rayburn, retirement, Teamster, theft, Twinkie, Twinkies, Wall Street Journal | Leave a Comment »
Posted by Warm Southern Breeze on Wednesday, December 26, 2012
Perhaps the most telling rationale, or motivation for the course upon which corporations have set is explained in this statement by ANDREW SMITHERS: Yes, the current way in which managements are rewarded is perverse from an economic viewpoint. Adam Smith pointed out that some characteristics of human beings such as greed, which are often unpleasant at a personal level, can nonetheless bring social benefits. But this is not necessarily the case under current remuneration systems; greed is increasingly the cause of harm rather than help to the economy.
The long and short of it, is greed. And in that paragraph is the solitary mention of the word or practice.
Philosophically, this time, this period in our nation’s history – and in the history of the world, and in the greater, long term picture of humanity – is yet another prime example, and case in point illustrating why and how the selfishness of greed is unsustainable and genuinely evil.
Capital Wins, Labor Loses, But Andrew Smithers Says It Can’t Go On
MAKING SENSE — December 26, 2012 at 4:48 PM EDT
BY: PAUL SOLMAN
Warehouse manager at operations desk on computer. Photo courtesy of John McBride & Company Inc.
Paul Solman: Jon Shayne is not just the world’s No. 1 econo-crooner, belting out economics tunes of his own invention under the stage name Merle Hazard at his own website and for the PBS NewsHour audience on inflation, on the Greek debt crisis, on the euro crisis in general, on too-big-to-fail banks, and most recently, on the fiscal cliff.
No, Shayne/Hazard is no one-trick pony. He is also a noted money manager, recently highlighted by Forbes magazine for his perspicacity in stock-picking. Wrote Forbes: “If you follow the stock market, Jon Shayne is worth a good, long listen. Especially now.”
Having listened to Jon plenty over the past few years, I agree, especially with his emphasis on the increasing share of national income commanded by the owners of capital, in contrast to labor. This angle is the focus of Forbes’ story as well.
So I asked Jon to elaborate for the Making Sen$e audience. He has done so by interviewing the person who inspired his thoughts on the subject, British economist Andrew Smithers, who formerly ran the asset management business of S.G. Warburg, and now Read the rest of this entry »
Posted in - Business... None of yours, - Did they REALLY say that?, - Read 'em and weep: The Daily News | Tagged: Adam Smith, analysis, ANDREW, Andrew Smithers, business, CEO, Company, compensation, corporations, economics, Economist, economy, employee, employment, enterprise, European sovereign debt crisis, executives, family, Federal Reserve Bank of New York, Forbes, free enterprise, greed, jobs, JON, JON SHAYNE, labor, London, management, market, money, news, PBS NewsHour, profit, stocks, worker, workers | Leave a Comment »
Posted by Warm Southern Breeze on Monday, November 19, 2012
As the saying goes, “It ain’t over ’til the fat lady sings.”
At this point, apparently, she’s not yet begun, although she is “in the house.”
And, from our “WTF?!?” files, comes this item:
In early February, Hostess had asked the bankruptcy judge to approve a sweet new employment deal for Driscoll. Its terms guaranteed him a base annual salary of $1.5 million, plus cash incentives and “long-term incentive” compensation of up to $2 million. If Hostess liquidated or Driscoll were fired without cause, he’d still get severance pay of $1.95 million as long as he honored a noncompete agreement.
The committee representing Hostess’s unsecured creditors alleges that information it has gathered suggests “the possibility” that the company converted a chunk of its top executives’ pay from performance-based bonuses to salary, “at least in part to sidestep” rules designed to ensure that companies in bankruptcy aren’t enticing their employees to stay on board with the promise of cash, according to documents filed with the U.S. Bankruptcy Court in White Plains, N.Y.
This solitary example is a wonderful one for illustrating what is WRONG with corporate governance and corporate operations in the United States. It’s an even more sad commentary that laws must be enacted to require people to do the right thing. At this juncture, the judge overseeing the Hostess Brands Inc. bankruptcy is doing precisely that.
Hostess and Bakers Union Asked Accept Strike Mediation
The judge overseeing Hostess Brands Inc. declined to approve the company’s liquidation today and asked management and the bakers’ union to enter mediation tomorrow to resolve the strike that the maker of Twinkies and Wonder bread said forced it to shut.
U.S. Bankruptcy Judge Robert Drain said at a hearing in White Plains, New York, that there are “serious questions as to the logic behind the decision to strike.” Hostess and the bakers’ union agreed to Drain’s request to enter confidential mediation under his supervision.
“To me, not to have gone through that step leaves a huge question mark over this case which I think will only be answered in litigation,” Drain said. “My desire to do this is prompted primarily by the potential loss of over 18,000 jobs, as well as my belief that there is a possibility to resolve this matter, notwithstanding the losses the debtors have incurred over the last week or so.”
Hostess hasn’t spoken with the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union since August, said Heather Lennox, a lawyer for the company. Hostess is seeking permission from Drain to pay bonuses to key managers while closing operations that will leave most of its 18,500 workers unemployed. Any agreement arising from the mediation would probably come too late to save the company, Lennox said.
“Things have gone too far to repair themselves under the current form,” Lennox, a partner at Jones Day, told Drain. “It would be very hard for us to recover from this damage even if there were to be an agreement in the near term.”
“Our best shot is to see what we can sell as going concerns and have the company continue that way,” she said. The hearing to consider Hostess’s request to wind down was postponed until Nov. 21.
Hostess said Nov. 16 that it would shut, claiming that a weeklong strike by the bakers’ union forced liquidation. The union blamed management’s concession demands, while some employees blamed both sides. Strikers were still outside the company’s facilities today, Hostess’s lawyers said.
Corrina Christensen, a spokeswoman for the bakers’ union, didn’t immediately respond to an e-mail seeking comment on the mediation.
The International Brotherhood of Teamsters, whose members distribute Hostess products, had ratified a new contract with 8 percent in wage concessions and 17 percent in benefit reductions.
“The Teamsters will closely monitor the mediation between the BCTGM and Hostess management and assist in any way we can to help the two sides reach an agreement that keeps the company’s doors open,” Ken Hall, the Teamsters general secretary- treasurer, said today in a statement.
The judge may be creating risk for both sides that encourages them to reach a deal, Ken Russak, a bankruptcy attorney at Frandzel Robins Bloom & Csato in Los Angeles, said today in an interview. “The bankruptcy judge would much prefer to have the parties work something out than having to Read the rest of this entry »
Posted in - Business... None of yours, - Read 'em and weep: The Daily News | Tagged: abuse, avarice, Bakers Food and Allied Workers Union, bakery, bankruptcy, business, Ding Dong, Drain, enterprise, Flowers Foods, food, fraud, greed, Ho Ho, Hostess, Hostess Brands, Hostess cakes, judge, labor, management, mediation, mismanagement, news, Teamsters, Twinkie, Twinkies, union, United States, United States bankruptcy court, waste, White Plains New York, Wonder Bread | Leave a Comment »
Posted by Warm Southern Breeze on Saturday, October 20, 2012
The average reader may not be aware that there was once a huge Delphi plant in Limestone county, Alabama, which facility was located directly across from Calhoun Community College.
Mitt Romney owned a significant interest in a firm that profited by laying off workers, dumping their pensions, moving to China, and then profiting rapaciously from the TARP bailout. That large plant – one among many, with the largest one being in Alabama – was the Delphi Steering Gear facility in Tanner, near Decatur, in Limestone County.
It was one of North Alabama‘s LARGEST employers – with emphasis on “was.”
The men & women who made careers there, whose labors enabled their children to attend college, provided their families’ clothing, groceries, housing & healthcare, and provided for their own retirement, and which was a union shop, was shuttered several years ago.
Most of what news I recall about it centered around how corporate traders, not unions, were wanting even more & more profit when they were already profitable. Time and time again, the workers took cuts in benefits & pay to keep their jobs for as long as they could… all to no avail.
Like a gazelle savaged on the plains of the Kalahari Desert in Africa, that once prosperous plant has been laid to waste, and there are only industrial skeletal remains. Even the human buzzards, scavenging metal for recycling from the industrial carcass, have left. For many years now, the hollow exterior hulk, instead of employees, materials & labor, has been drawing cobwebs, dust & rust. And soon, like all things left unattended, it too will crumble.
There are no taxes paid to Limestone county, or to nearby Decatur, Athens or Huntsville, or to Alabama for roads, schools, police & fire protection. But there is an even greater issue, one which is exceedingly more weighty and sorrowful. As a result of it all, there is no hope, there are no jobs, and there is no future.
Here’s the even more disturbing part: Mitt Romney had his hand in that pie.
And yet the saddest and most perplexing part is, that most Alabamians will vote for the GOP nominee/candidate.
Following the economic investigative report are historical local news reports that show the progression about the issue (which validate the economic investigative report by Greg Palast), from the:
• Decatur Daily,
• Huntsville Times,
• Associated Press,
• Athens-Limestone News Courier,
• Saginaw News (via MLive.com), and
• Wall Street Journal,
dating 2005, 2007, 2008, 2009 & 2010.
For the benefit of the reader, Greg Palast is an economist and financial investigator turned journalist whose series on vulture funds appeared on BBC Television’s Newsnight. He is the author of The Best Democracy Money Can Buy (Penguin) and, most recently, Billionaires & Ballot Bandits: How to Steal an Election in 9 Easy Steps (Seven Stories). For additional information about him, his website is: http://www.gregpalast.com.
Mitt Romney’s Bailout Bonanza
Greg Palast, October 17, 2012 | This article appeared in the November 5, 2012 edition of The Nation.
This investigation was supported by the Investigative Fund at the Nation Institute and by the Puffin Foundation. Elements of it appear in Palast’s new book, Billionaires & Ballot Bandits: How to Steal an Election in 9 Easy Steps (Seven Stories). Research assistance by Zach D. Roberts, Ari Paul, Nader Atassi and Eric Wuestewald.
2012 GOP Presidential Nominee Mitt Romney (AP Photo/Evan Vucci)
Mitt Romney’s opposition to the auto bailout has haunted him on the campaign trail, especially in Rust Belt states like Ohio. There, in September, the Obama campaign launched television ads blasting Romney’s November 2008 New York Times op-ed, “Let Detroit Go Bankrupt.” But Romney has done a good job of concealing, until now, the fact that he and his wife, Ann, personally gained at least $15.3 million from the bailout—and a few of Romney’s most important Wall Street donors made more than $4 billion. Their gains, and the Romneys’, were astronomical—more than 3,000 percent on their investment.
It all starts with Delphi Automotive, a former General Motors subsidiary whose auto parts remain essential to GM’s production lines. No bailout of GM—or Chrysler, for that matter—could have been successful without saving Delphi. So, in addition to making massive loans to automakers in 2009, the federal government sent, directly or indirectly, more than $12.9 billion to Delphi—and to the hedge funds that had gained control over it.
One of the hedge funds profiting from that bailout—
$1.28 billion so far—is Elliott Management, directed by
Paul Singer. According to TheWall Street Journal, Singer has given more to support GOP candidates—$2.3 million—than anyone else on Wall Street this election season. His personal giving is matched by that of his colleagues at Elliott; collectively, they have donated $3.4 million to help elect Republicans this season, while giving only $1,650 to Democrats. And Singer is influential with the GOP presidential candidate; he’s not only an informal adviser but, according to theJournal, his support was critical in helping push Representative Paul Ryan onto the ticket.
Singer, whom Fortune magazine calls a “passionate defender of the 1%,” has carved out a specialty investing in distressed firms and distressed nations, which he does by buying up their debt for pennies on the dollar and then demanding payment in full. This so-called “vulture investor” received $58 million on Peruvian debt that he snapped up for $11.4 million, and $90 million on Congolese debt that he bought for a mere $20 million. In the process, he’s built one of the largest private equity firms in the nation, and over decades he’s racked up an unusually high average return on investments of 14 percent.
Other GOP presidential hopefuls chased Singer’s endorsement, but Mitt chased Singer with his own checkbook, investing at least $1 million with Elliott through Ann Romney’s blind trust (it could be far more, but the Romneys have declined to disclose exactly how much). Along the way, Singer gained a reputation, according to Fortune, “for strong-arming his way to profit.” That is certainly what happened at Delphi.
* * *
Delphi, once the Delco unit of General Motors, was spun off into a separate company in 1999. Read the rest of this entry »
Posted in - Business... None of yours, - Lost In Space: TOTALLY Discombobulated, - My Hometown is the sweetest place I know, - Read 'em and weep: The Daily News | Tagged: AL, Alabama, Ann Romney, avarice, bailout, business, Calhoun Community College, Decatur, Delphi, Delphi Automotive, economics, General Motors, geotag, geotagged, GM, GOP, greed, Greg Palast, investigation, jobs, John Paulson, journalism, Limestone county, Mitt Romney, money, news, Paul Singer, Romney, Tanner, TARP, Troubled Asset Relief Program, Troubled Assets Relief Program, unemployment, Wall Street | 6 Comments »
Posted by Warm Southern Breeze on Sunday, July 15, 2012
What does Mitt Romney have to hide?
Why won’t he live up to his late father’s example, and voluntarily and openly reveal all his tax records?
Where the Money Lives
August 2012, 2012-08-08 T11:00:24.000-04:00
By Nicholas Shaxson
For all Mitt Romney’s touting of his business record, when it comes to his own money the Republican nominee is remarkably shy about disclosing numbers and investments. Nicholas Shaxson delves into the murky world of offshore finance, revealing loopholes that allow the very wealthy to skirt tax laws, and investigating just how much of Romney’s fortune (with $30 million in Bain Capital funds in the Cayman Islands alone?) looks pretty strange for a presidential candidate.
BURIED TREASURE Grand Cayman, where Bain Capital maintains at least 138 funds. Inset, Mitt Romney tries to spot his La Jolla home from the campaign plane. ©Ruth Tomlinson/Robert Harding World Imagery/Corbis (beach); by Justin Sullivan/Getty images (inset).
A person who worked for Mitt Romney at the consulting firm Bain and Co. in 1977 remembers him with mixed feelings. “Mitt was … a really wonderful boss,” the former employee says. “He was nice, he was fair, he was logical, he said what he wanted … he was really encouraging.” But Bain and Co., the person recalls, pushed employees to find out secret revenue and sales data on its clients’ competitors. Romney, the person says, suggested “falsifying” who they were to get such information, by pretending to be a graduate student working on a project at Harvard. (The person, in fact, was a Harvard student, at Bain for the summer, but not working on any such projects.) “Mitt said to me something like ‘We won’t ask you to lie. I am not going to tell you to do this, but [it is] a really good way to get the information.’ … I would not have had anything in my analysis if I had not pretended.
“It was a strange atmosphere. It did leave a bad taste in your mouth,” the former employee recalls.
This unsettling account suggests the young Romney—at that point only two years out of Harvard Business School—was willing to push into gray areas when it came to business. More than three decades later, as he tried to Read the rest of this entry »
Posted in - Lost In Space: TOTALLY Discombobulated, - Politics... that "dirty" little "game" that first begins in the home., - Read 'em and weep: The Daily News | Tagged: avarice, Bain, Bain Capital, Banking in Switzerland, Bermuda, Cayman Island, Cayman Islands, George Romney, GOP, greed, hide, Mitt Romney, money, news, Newt Gingrich, Nicholas Shaxson, politics, problems, Republican, Romney, secrecy, secret, tax haven, trouble, United States, wealth | Leave a Comment »
Posted by Warm Southern Breeze on Monday, May 28, 2012
Regular readers will recall the entry entitled “Q: Why do hospitals charge $75 for aspirin? A: Because they can.,” which was posted Wednesday, May 2, 2012.
In another venue, I had posted the following remark in response to the exorbitant healthcare costs, “It’s a simple concept, really. Anytime anyone gets in between you & who you’re buying from, it costs more. Insurance does that.”
And it’s true.
It’s not trite.
Let’s consider this example: You’re at the grocery store in the check-out line, about to pay for your groceries which have already been bagged and placed in your shopping cart. When the clerk announces the total, you have some strange feeling because the total is about ten times as much as you imagined.
When you double check the price of milk you find the sticker says $2.50/gallon, but your clerk rang up $25. You double check the price of frozen spinach. The sticker price says $1.37, but the clerk rang up $13.70. The chocolate was $4.50, but the clerk rang up $45.00. And the lean ground beef, instead of the posted $2.60/lb, the 5lb chub was… $130.00.
Talk about sticker shock!
You are aghast at the price, and in frustrated terms exclaim that “there is obviously some gross mistake!” – to which the clerk replies, “Let me check with your Food Insurance Agent,” picks up a phone beside the register, presses one button, and whispers into the receiver.
Suddenly, out of a door leading to an inside office, Read the rest of this entry »
Posted in - Do you feel like we do, Dr. Who?, - Read 'em and weep: The Daily News | Tagged: business, California, cash, cost, Costco, Deloitte Center for Health Solutions, discount, Discounts and allowances, doctors, Financial Services, greed, grocery store, Hawaii, health, health care, health insurance, healthcare, healthinsurance, hospital, hospitals, insurance, Insurance policy, investigation, law, Los Angeles, Los Angeles Times, medical bills, money, Obamacare, Patient Protection & Affordable Care Act, Paul Keckley, payment, profit, profit motive, research, spending, Times, United States, Vehicle insurance, X-ray computed tomography | Leave a Comment »
Posted by Warm Southern Breeze on Tuesday, October 4, 2011
Is this not the height of arrogance?
Wall Street executives,
tell show us how you ~REALLY~ feel!
Posted in - Faith, Religion, Goodness - What is the Soul of a man?, - Read 'em and weep: The Daily News | Tagged: "Occupy Wall Street", #OccupyWallStreet, arrogance, corruption, Criticism of capitalism, greed, Leaderless resistance, New York City, news, Occupy Wall St., Protest, United States, video, Wall Street, wealth, YouTube, Zuccotti Park | Leave a Comment »
Posted by Warm Southern Breeze on Saturday, October 1, 2011
John Adams, 1823–24, Second President of the US. Painting by Gilbert Stuart (1755–1828).
Perhaps you’ve read the previous entry in this blog. If not, I encourage you do so.
For several reasons, not the least of which are that what you’ll read in the conclusion of this entry speak overwhelmingly to the issue addressed by the protestors.
Following is an entry I made in another forum, the content of which – as I considered it – was worthy of a separate post.
Your thoughtful commentary is encouraged.
I particularly like your earlier remark, and found it quite erudite. To wit, and to clarify, it is this one: “I believe in capitalism, Read the rest of this entry »
Posted in - Did they REALLY say that?, - Politics... that "dirty" little "game" that first begins in the home. | Tagged: avarice, Big Business, corporatism, evil, excesses, government, greed, history, John Adams, Massachusetts, movement, New York, New York City, politics, power, Truth to Power, United States, vice, Wall Street, wealth, wickedness | Leave a Comment »
Posted by Warm Southern Breeze on Saturday, May 14, 2011
Recently, U.S. Senator Rand Paul, a “TEA Party” Republican from Kentucky, and ophthalmologist specializing in cataract and glaucoma surgeries, LASIK procedures, and corneal transplants, was quoted as saying that “a right to healthcare… means you believe in slavery.”
Dr. Paul is the ranking member of the Senate HELP Subcommittee on Primary Health and Aging subcommittee, and made his comments at a Wednesday, May 11, 2011 hearing about emergency room use in American hospitals.
He said that, “With regard to the idea whether or not you have a right to health care you have to realize what that implies. I am a physician. You have a right to Read the rest of this entry »
Posted in - Did they REALLY say that?, - Politics... that "dirty" little "game" that first begins in the home., - Uncategorized II | Tagged: Adam, American Healthcare Reform, armed services, Big Business, Big Pharma, conscription, greed, health care, healthcare, Hippocratic Oath, hospital, insurance, Kentucky, military, motive, politics, profit, Rand Paul, Republican, Right to health, service, slavery, tea party, United States, United States Constitution, Universal health care, veterans, Wall Street, World Health Organization | Leave a Comment »
Posted by Warm Southern Breeze on Wednesday, January 19, 2011
Friendship, Love, Passion, Politics, Sarcasm and Shoes
Recently, I enjoyed a virtual chat with a dear, long-time friend of mine. We began our friendship, interestingly enough, over a pair of shoes. I needed one, and he had one – pair of shoes, that is – so I bought them from him. He is a skilled tradesman and business owner/entrepreneur, and educated me on what makes a good pair of shoes and boots.
His demeanor impressed me, and we found that we had several common interests – perhaps chief among them music – and a love of Read the rest of this entry »
Posted in - Faith, Religion, Goodness - What is the Soul of a man?, - My Hometown is the sweetest place I know, - Politics... that "dirty" little "game" that first begins in the home. | Tagged: Boehner, Community Reinvestment Act, Democratic, detriment, friendship, greed, harm, health, healthcare, hill, idiocy, insurance, John Boehner, John Carter, Late Latin, law, National Association of Insurance Commissioners, national disgrace, Obama, Obamacare, Passion, Pete Stark, politics, Republican, Republican Conference Secretary of the United States House of Representatives, Republicans, sarcasm, shame, shoes, silliness, tomfoolery, United States | Leave a Comment »