Posts Tagged ‘jobs’
Posted by Warm Southern Breeze on Wednesday, November 13, 2013
Alabama State Senator Arthur Orr (R, Decatur) has proposed eliminating the Alcoholic Beverage Control Board‘s retail outlets statewide.
Senator Orr represents the Third District, which includes Morgan, Madison and Limestone counties in the Alabama State Senate.
He attempts to justify his position by asking a rhetorical question, on pretense of being modern: “The fundamental question, I think, for us as legislators and as a state, is, should the state of Alabama Read the rest of this entry »
Posted in - Lost In Space: TOTALLY Discombobulated, - My Hometown is the sweetest place I know, - Politics... that "dirty" little "game" that first begins in the home., - Uncategorized | Tagged: ABC, Alabama, Alabama Senate, Alcoholic Beverage Control Board, Alcoholic beverage control state, Arthur Orr, Bentley, business, California, competition, Decatur, Distilled beverage, employment, Free Market, government, jobs, merchant, Mississippi, National Alcohol Beverage Control Association, Orr, Republican, retail, sales, United States, Washington | Leave a Comment »
Posted by Warm Southern Breeze on Saturday, September 14, 2013
More than a few folks recall the significant benefit the Civilian Conservation Corps (CCC) provided this nation, and how our nation’s infrastructure (roads, waterways, electrical power grid, etc.) grew during that time. In Monte Sano State Park, in Huntsville, Alabama, there are cabins which are STILL standing, and which are in EXCELLENT repair, that were constructed by the CCC. It is testament to their quality, and to the effort to put people to work in this nation in the aftermath of the Great Depression.
Sadly, this largely Republican-led, “just-say-no” congress has done NOTHING to produce or encourage any type of jobs. That is to say, they have written NO BILLS to promote, encourage or stimulate hiring. NONE.
And yet, there is a sure-fire, time-tested way to get folks back to work – and what is being done about it?
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. | Tagged: Civilian Conservation Corps, economics, economy, George Miller, Great Depression, jobs, John Kline, money, Monte Sano State Park, policy, politics, Republican, United States, United States House Committee on Education and the Workforce | Leave a Comment »
Posted by Warm Southern Breeze on Saturday, August 24, 2013
I may step on a few toes with my next remark, but I can always apologize, and ask forgiveness if it so be the case that my remarks are found offensive.
However, suffice it to say, that our nation’s Congress, has, for at least the past 20 years, or so – and even moreso in the past decade plus – embarked upon a very Read the rest of this entry »
Posted in - Business... None of yours, - Did they REALLY say that?, - Faith, Religion, Goodness - What is the Soul of a man? | Tagged: Africa, Ancient, Ancient Egypt, Big Business, business, corporation, Democrat, Egypt, employees, enterprise, entrepreneurship, faith, Golden Parachute, GOP, government, Hebrew, Hebrew language, Hebrews, history, jobs, money, Moses, people, Pharaoh, policy, politics, profit, prophet, religion, Republican, Seychelles, tax, United States, values | Leave a Comment »
Posted by Warm Southern Breeze on Tuesday, July 30, 2013
The White House
Office of the Press Secretary
Remarks by the President on Jobs for the Middle Class, 07/30/13
Amazon Chattanooga Fulfillment Center
2:00 P.M. EDT
THE PRESIDENT: Hello, Chattanooga! (Applause.) It is good to be back in Tennessee. (Applause.) It’s great to be here at Amazon. (Applause.)
I want to thank Lydia for the introduction and sharing her story. Give Lydia a big round of applause. (Applause.) So this is something here. I just finished getting a tour of just one little corner of this massive facility — size of 28 football fields. Last year, during the busiest day of the Christmas rush, customers around the world ordered more than 300 items from Amazon every second, and a lot of those traveled through this building. So this is kind of like the North Pole of the south right here. (Applause.) Got a bunch of good-looking elves here.
Before we start, I want to recognize your general manager, Mike Thomas. (Applause.) My tour guide and your vice president, Dave Clark. (Applause.) You’ve got the Mayor of Chattanooga, Andy Berke. (Applause.) And you’ve got one of the finest gentlemen I know, your Congressman, Jim Cooper. (Applause.) So thank you all for being here.
So I’ve come here today to talk a little more about something I was discussing last week, and that’s what we need to do as a country to secure a better bargain for the middle class -– a national strategy to make sure that every single person who’s willing to work hard in this country has a chance to succeed in the 21st century economy. (Applause.)
Now, you heard from Lydia, so you know — because many of you went through it — over the past four and a half years, we’ve been fighting our way back from the worst recession since the Great Depression, and it cost millions of Americans their jobs and their homes and their savings. And part of what it did is it laid bare the long-term erosion that’s been happening when it comes to middle-class security.
But because the American people are resilient, we bounced back. Together, we’ve righted the ship. We took on a broken health care system. We invested in new American technologies to reverse our addiction to foreign oil. Changed a tax code that had become tilted too much in favor of the wealthy at the expense of working families. Saved the auto industry, and thanks to GM and the UAW working together, we’re bringing jobs back here to America, including 1,800 autoworkers in Spring Hill. (Applause.) 1,800 workers in Spring Hill are on the job today where a plant was once closed.
Today, our businesses have created 7.2 million new jobs over the last 40 months. This year, we’re off to our best private-sector jobs growth since 1999. We now sell more products made in America to the rest of the world than ever before. (Applause.) We produce more renewable energy than ever. We produce more natural gas than anybody else in the world. (Applause.) Health care costs are growing at the slowest rate in 50 years. Our deficits are falling at the fastest rate in 60 years. (Applause.)
So thanks to hardworking folks like you, thanks to the grit and resilience of the American people, we’ve been able to clear away some of the rubble from the financial crisis. We’ve started to lay a new foundation for a stronger, more durable America — the kind of economic growth that’s broad-based, the foundation required to make this century another American century.
But as I said last week, and as any middle-class family will tell you, we’re not there yet. Even before the financial crisis hit, we were going through a decade where a few at the top were doing better and better, but most families were working harder and harder just to get by. And reversing that trend should be Washington’s highest priority. (Applause.) It’s my highest priority.
But so far, for most of this year, we’ve seen Read the rest of this entry »
Posted in - Did they REALLY say that?, - 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: American Jobs Act, Andy Berke, Bankster, Banksters, Barack Obama, bridges, Chattanooga, Chattanooga Tennessee, Democrat, economic infrastructure, full text, Great Depression, Great Depression II, Great Recession, healthcare, hospitals, income, industry, infrastructure, jobs, manufacturing, middle class, money, news, Obama, Obamacare, ObamaNooga, POTUS, private enterprise, recovery, remarks, roads, schools, speech, tax, taxes, Tennessee, TN, travel, trip, United States, Volkswagen, wages, Washington, White House | Leave a Comment »
Posted by Warm Southern Breeze on Sunday, July 28, 2013
Chattanooga is an old, old, old, old city.
It’s older than Civil War old.
Throughout the city there are narrow streets, many (if not most) of which need widening and repaving. Interstate 24, which leads into the city, is in sore need of widening. Because of the twisting, winding route it takes as it leads into, through and around the city and it’s numerous mountains and hills, it can be treacherous. When any slowdown for any reason occurs, traffic can be backed up for 15-20 miles, or more. When wrecks occur on that route, they’re often fatal, and create even longer delays. The only other major route into the city is US Highway 72. There is no bypass. If there are problems on either of those two routes, significant delays can take hours. (See a Google Map of the area.)
It has a university – University of Tennessee, Chattanooga – with other smaller colleges & universities nearby (Lee University, in Cleveland & Southern Adventist University, in Collegedale). One of three hospitals in the area (each which has numerous campuses) Erlanger, is a Level One Trauma Center, and teaching hospital for the College of Medicine at the University of Tennessee, Knoxville. Memorial Hospital, is part of the Catholic Health Initiatives system, and is a teaching hospital, while Parkridge Hospital is operated by TriStar Health.
Because of industrial waste released by area manufacturing, in 1969, Chattanooga had the filthiest air in the nation. The Tennessee River which serves as a boundary for the area was equally polluted. For many years, troubles GALORE plagued the city, including economic inequality, poor race relations, deteriorating economic infrastructure, rapid population decline, and departure of industry.
Recognizing that the city and area residents were suffering a slow suicide, officials and interested citizens embarked upon a plan to revitalize the area, including cleaning up industrial waste, reinvigorating the economy with employment opportunity, and looking forward, rather than backward.
EPB (Electric Power Board), one of the public utilities in the area, came upon an idea to infuse their power grid with Fiber Optic cable to enable better response times, to pinpoint areas of concern, and to re-route electricity during power outages when lines were downed by trees or severe weather. They faced stiff opposition in the form of legal fights by Comcast (principally), yet were successful in overcoming. In turn, they sold High Speed fiber optic Internet Connectivity to area residents at a significantly reduced cost in comparison to the Wall-Street-traded Comcast. They also provide better service.
While the area’s renaissance is by no means complete, it has advanced with enormously significant strides.
Obama to visit uneven Chattanooga area recovery
published Saturday, July 27th, 2013
Mike Pare, Deputy Business Editor, Chattanooga Times Free Press; MPare@ TimesFreePress.com phone: (423) 757-6318
by Mike Pare
When President Barack Obama flies into Chattanooga on Tuesday to tout new economic initiatives, he’ll see a city recognized in a national study as a metro area emerging from the recession as an “economic frontrunner.”
Area Development, a national business magazine covering site selection and relocation, ranked metro Chattanooga at No. 86 — in the top quarter — among 380 metro areas examined for the study titled “Leading Locations for 2013.”
While in Chattanooga Obama is expected to unveil new ways to spur the nation’s sluggish economic recovery.
At the Amazon distribution center at Enterprise South industrial park, the president will see a growing, state-of-the-art distribution facility with 1,800 full-time jobs created since 2011. The Chattanooga facility, along with Read the rest of this entry »
Posted in - Business... None of yours, - 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: Alabama, Amazon, Atlanta, Barack Obama, Bristol, business, center, CEO, CHA, Chattanooga, Chattanooga Tennessee, Chattanooga Times Free Press, CLEVELAND, Columbus, connectivity, Dalton, Democrat, Democratic, economic, economy, enterprise, EPB, fiber optics, fulfillment, Georgia, high speed Internet, Huntsville, Indiana, Internet, Jeff Bezos, jobs, Kingston, Knoxville, living, Louisiana, manufacturing, Memphis, money, Nashville, Nooga, Obama, Odessa, policy, politics, president, private enterprise, region, regional, Rome, South, southern, taxes, Tennessee, Texas, TN, TVA, United States, University of Tennessee, Volkswagen, wages | 2 Comments »
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 Saturday, May 25, 2013
Ross Perot was right.
Scene: 1992 Presidential Debate: Former Arkansas Governor William Jefferson Clinton – D, President George H. W. Bush – R, and Ross Perot – I.
White Male Audience Member: Yes, I’d like to direct my question to Mr. Perot. What will you do, as President, to open foreign markets to fair competiton from American business, and to stop unfair competition here at home from foreign countries, so that we can bring jobs back to the United States?
Ross Perot: That’s right at the top of my agenda.
We’ve shipped millions of jobs overseas, and uh… we have a strained situation because we have a process in Washington, where after you’ve served for a while, you cash in, become a foreign lobbyist, make $30,000 a month, then take a leave, work on presidential campaigns, make sure you got good contacts, and then go back out.
And if you just want to get down to brass tacks, the first thing you ought to do is get all these folks who got these one-way trade agreements that we’ve negotiated over the years, and say ‘fellas, we’ll take the same deal we gave you.’ And they’ll gridlock right at that point, because, Read the rest of this entry »
Posted in - Business... None of yours, - Did they REALLY say that?, - Politics... that "dirty" little "game" that first begins in the home. | Tagged: 1992, Bill Clinton, debate, economy, employers, George H.W. Bush, Giant sucking sound, government, history, jobs, labor, money, Perot, policy, president, presidential, Ross Perot, United States, Washington, Washington D.C., Washington DC, worker | Leave a Comment »
Posted by Warm Southern Breeze on Sunday, March 3, 2013
This issue raises some very interesting questions. First, because men are a minority in Nursing, is it justifiable for them to earn more than those, who as a group, dominate the profession?
Or, is parity genuinely or truly parity?
Should men and women earn the same amount of money if they do the exact same kind of work?
Or, are there accountable differences in the pay which justify the difference, however slight – and is very slight.
Male Nurses Make More Money
- February 25, 2013, 1:17 PM
Men now comprise 10% of all Nurses in the United States, up from 3% several years ago. / Getty Images
Hospital patients are more likely than ever to see a male nurse at their bedside — and odds are he earns more than the female nurse down the hall. Men made up close to 10% of all registered nurses in 2011, according to a new Census report released today. That may not sound like much, but it’s up from less than 3% in 1970 and less than 8% in 2000.
It’s no mystery what is drawing men into nursing. Male-dominated professions such as construction and manufacturing hemorrhaged jobs during the recession and have been slow to rebound during the recovery. The health-care sector, meanwhile, actually added jobs during the recession and has continued to grow since. All told, health-care employment is up by Read the rest of this entry »
Posted in - Do you feel like we do, Dr. Who?, - Read 'em and weep: The Daily News | Tagged: Advanced Practice Nurse, Critical Care, CRNA, economics, economy, education, employment, faculty, Getty Images, health, health care, healthcare, income, jobs, license, Licensed practical nurse, LPN, Master's Degree, Men in nursing, money, MSN, news, Nurse anesthetist, Nurse Practitioner, Nursing, practice, profession, professional, recession, Registered Nurse, RN, unemployment, USA | Leave a Comment »
Posted by Warm Southern Breeze on Thursday, January 17, 2013
The Federal Reserve regularly publishes a summary of economic activity in the 12 Federal Reserve Districts in the United States.
It is important to note that “This document summarizes comments received from businesses and other contacts outside the Federal Reserve and is not a commentary on the views of Federal Reserve officials.”
Much, if not most of the news was promising.
Summary highlights from this Beige Book 2013-01-16 are that:
• “Reports from the twelve Federal Reserve Districts indicated that economic activity has expanded since the previous Beige Book report, with all twelve Districts characterizing the pace of growth as either modest or moderate.”
Posted in - Business... None of yours, - My Hometown is the sweetest place I know | Tagged: agriculture, automobile, Beige Book, business, Coal, construction, consumer, Consumer spending, economic, economy, employment, Energy, farming, Federal Reserve, Federal Reserve Bank, Federal Reserve District, Federal Reserve System, gas, housing, jobs, manufacturing, money, NatGas, Natural gas, news, Philadelphia, Real estate, sales, spending, travel, unemployment, United States, wages | Leave a Comment »
Posted by Warm Southern Breeze on Sunday, January 13, 2013
The Employment Situation in December
January 04, 2013
09:30 AM ES
While more work remains to be done, today’s employment report provides further evidence that the U.S. economy is continuing to heal from the wounds inflicted by the worst downturn since the Great Depression. It is critical that we continue the policies that are building an economy that works for the middle class as we dig our way out of the deep hole that was caused by the severe recession that began in December 2007.
With the passage of the American Taxpayer Relief Act earlier this week, more than 98 percent of Americans and 97 percent of small businesses now have certainty that their income taxes will not rise. Additionally, unemployment insurance was extended for two million Americans who are searching for a job, and companies will continue to receive tax credits for the research that they do and continue to have tax incentives to accelerate investment in their businesses. By allowing income tax cuts for the top two percent of earners to expire, this legislation further reduces the deficit by $737 billion over the next decade. It is important that we continue to move toward a sustainable federal budget in a responsible way that balances revenue and spending while protecting critical investments in the economy and essential support for our most vulnerable citizens.
Today’s report from the Bureau of Labor Statistics (BLS) shows that private sector businesses added Read the rest of this entry »
Posted in - Business... None of yours, - Politics... that "dirty" little "game" that first begins in the home., - Read 'em and weep: The Daily News | Tagged: Alan B. Krueger, American Taxpayer Relief Act, Bureau of Labor Statistics, December, economy, Economy of the United States, employment, entrepreneurship, Great Depression II, Great Recession, income, jobs, Labor force, politics, private enterprise, report, taxes, United States | 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 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 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 »
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Posted by Warm Southern Breeze on Friday, October 12, 2012
“Most Districts reported strengthening in existing home sales, while prices were described as steady to increasing, with declining inventories noted in the Boston, Atlanta, Minneapolis, Dallas, and San Francisco Districts.
“Automobile sales were flat over the past six weeks but are up year-over-year.
“Demand for consumer credit remained relatively strong, Read the rest of this entry »
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Posted by Warm Southern Breeze on Thursday, October 11, 2012
Jobless Claims in U.S. Fall to Four-Year Low
Fewer Americans than forecast filed first-time claims for unemployment benefits last week, which may reflect difficulty adjusting the data for seasonal swings at the start of a new quarter.
Applications for jobless benefits dropped 30,000 to 339,000 in the week ended Oct. 6, the fewest since February 2008, Labor Department figures showed today. Economists forecast 370,000 claims, according to the median estimate in a Bloomberg survey. One state accounted for Read the rest of this entry »
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Posted by Warm Southern Breeze on Tuesday, October 9, 2012
Regardless whether global climate change is man-made, or cyclical… it’s going to affect us all, and we would be wise to DO SOMETHING to PRESERVE, PROTECT and DEFEND ourselves NOW!
Milk-Cow Drought Culling Accelerates as Prices Jump: Commodities
U.S. milk production is headed for the biggest contraction in 12 years as a drought-fueled surge in feed costs drives more cows to slaughter.
Output will drop 0.5 percent to 198.9 billion pounds (90.2 million metric tons) in 2013 as the herd shrinks to an eight- year low, the U.S. Department of Agriculture estimates. Milk futures rose 45 percent since mid-April and may advance at least another 19 percent to a record $25 per 100 pounds by June, said Shawn Hackett. The president of Boynton Beach, Florida-based Hackett Financial Advisers Inc. correctly predicted the rally in March.
Dairies in California, the top milk-producing state, are filing for bankruptcy, and U.S. cows are being slaughtered at the fastest rate in more than a quarter century. Corn surged to a record in August as the USDA forecast the smallest crop in six years because of drought across the U.S. Global dairy prices tracked by the United Nations rose 6.9 percent last month, the most among the five food groups monitored, and that will probably mean record costs next year, Rabobank estimates.
“Farmers can’t afford to buy as much grain and protein, and that affects milk production,” said Bob Cropp, an economist at the University of Wisconsin in Madison who has been following the industry since 1966. “In California, there’ve been some foreclosures and some sell-off of cows quite heavily. You’re going to see that in other parts of the country.”
Class III milk, used to make cheese, jumped 22 percent to $21.05 on the Chicago Mercantile Exchange this year. That’s more than 21 of the 24 commodities in the Standard & Poor’s GSCI Spot Index, which rose 1.8 percent. The MSCI All-Country World Index (MXWD) of equities climbed 12 percent, and Treasuries Read the rest of this entry »
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Posted by Warm Southern Breeze on Tuesday, October 9, 2012
Jay Levy, Part of ‘Dynasty’ That Forecast 2008 Crash, Dies at 90
Jay Levy, who worked with his father, then his son, to publish an economics-forecasting newsletter, now in its seventh decade, that predicted the collapse in housing and latest recession, has died. He was 90.
He died on Oct. 4 at Northern Westchester Hospital in Mount Kisco, New York, according to his son, David. The cause was pneumonia. A resident of Somers, New York, he had suffered a series of mini-strokes in recent years.
The Levy Forecast, founded in 1949 as Industry Forecast, bills itself as the oldest paid newsletter devoted to economic analysis in the U.S. It is published by the Mount Kisco-based Jerome Levy Forecasting Center LLC, of which Levy was most recently senior counsel and managing director. The center carries the name of his father, Jerome, who died in 1967. Jay Levy’s son, David Levy, is chairman. They were part of what Forbes magazine, in 1983, called “a kind of economic dynasty.”
Levy and his son were “right as rain” in predicting the financial crisis and recession that began in 2007-2008, Alan Abelson wrote in Barron’s in January 2009.
Among the red flags they had raised was this from the November 2005 Levy Forecast:
“Just as the last recession was caused by Read the rest of this entry »
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Posted by Warm Southern Breeze on Friday, August 3, 2012
American ingenuity and enterprise will again place us at the forefront, and it will be very soon.
Our economy is on the upswing, and this is going to be a significant part of that big boom.
I predict it will be of longer duration, and of significantly greater strength than our economically prosperous period under the Clinton administration.
And THAT is a good thing.
by Tracy Samilton
Listen to the Story; Morning Edition [3 min 28 sec] Download
August 3, 2012
More than 20 state governors are taking an unusual step to boost the natural gas vehicle industry. Independent of the federal government, they’re asking Detroit carmakers to build them a new kind of car: a midsize sedan that runs on compressed natural gas instead of gasoline.
Honda’s CNG Civic is the only natural gas-fueled sedan currently available in the United States. With so few CNG passenger cars on the road, pumping stations are few and far between. Tracy Samilton for NPR
The governors are hoping to boost demand for natural gas cars with their collective buying power. Combined, the states say they could ultimately buy thousands of CNG vehicles to replace their current vehicle fleets — if those cars were available.
Only a few kinds of vehicles currently run on compressed natural gas in the U.S., and only one, the CNG Honda Civic, is a passenger car. Detroit currently offers no natural gas-fueled passenger cars.
Filling up a natural gas car’s fuel tank is a cinch Read the rest of this entry »
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