Warm Southern Breeze

"… there is no such thing as nothing."

Posts Tagged ‘profit’

“Too Big To Fail” Banks Get Bailout, Gave Customers The Shaft

Posted by Warm Southern Breeze on Monday, December 19, 2016

Chalk One Up for the Working Man

By Donald V. Watkins
©Copyrighted and Published (via Facebook) on December 18, 2016
Used with permission

On Thursday, I tried a case for a close friend on mine in the Jefferson County, Alabama District Court in Bessemer, Alabama. My friend is a hard working Bessemer resident and family man whose world was turned upside down when Citibank sold his credit card account to San Diego-based junk debt buyer, Midland Funding, LLC. He is one of millions of bank credit card customers each year whose accounts are bundled in loan pools and then sold to junk debt buyers without the customer’s knowledge.

Midland Funding is one of several mega junk debt buyers in America. This group of financial sharks buys unsecured bank debt for pennies on a dollar and then strong arms debtors who miss one or more of their monthly payments. Midland is part of a multi-billion industry of shady financial predators.

In my friend’s case, Citibank sold his account to Midland Funding. The balance on the account was $6,800. My friend paid his credit card monthly on a regular basis, but had an unexpected hiccup in his monthly cash flow a couple of years after he opened the account. As a result he failed to make a couple of his payments on time. When this occurred Citibank sold my friend’s account to Midland, and Midland eventually sued my friend. This is how my friend became my client.

Remember, Citibank had a similar hiccup during the Great Recession of 2008. The bank requested and received a total of $181.6 billion in federal bailout assistance to keep from collapsing. In fact, Citibank led the banking industry’s “welfare queens” by receiving more financial bailout assistance than any big bank in the U.S.

Citibank’s “Thank You” to the taxpayers like my client, whose tax dollars made the financial bailout possible for these big banks, was the low-down act of selling his credit card account to a shark like Midland Funding. The big banks were quick to take taxpayer-sponsored financial assistance, but slow to give taxpayers similar financial assistance in return.

[Editor’s Note: Alamerica Bank, which is Read the rest of this entry »

Posted in - Business... None of yours, - My Hometown is the sweetest place I know | Tagged: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | 1 Comment »

Preys Geebus!

Posted by Warm Southern Breeze on Saturday, November 26, 2016

xian-bookstore

Purveyors of False Profit

Because Geezus died and was resurrected for businesses, free enterprise, and the profit motive.

There is NO SUCH THING as a “Christian” business. I’d rather visit a Read the rest of this entry »

Posted in - Did they REALLY say that?, - Faith, Religion, Goodness - What is the Soul of a man? | Tagged: , , , , , , , , , , , , , , , , , , , , , , , | Leave a Comment »

Historical Audio: Reagan supported increased wages & labor protection

Posted by Warm Southern Breeze on Friday, April 11, 2014

Seems as if everything old is news again.

Of course, the more things change, the more they remain the same.

GOP Panics As Audio Emerges Proving Their Hero Reagan Would Oppose Current GOP Policies

Author: April 9, 2014 6:49 pm

A 1948 audio recording of Ronald Reagan shows that he would have opposed the GOP’s policies today. In fact, if the GOP actually knew anything about Reagan’s history, they’d wonder how he even ended up in the party to begin with. The right-wing lunatic fringe runs today’s GOP. Back when this recording was made, Ronald Reagan sounded far more like one of today’s liberal Democrats than a Republican. The difference is astonishing.

Ronald Reagan on the 1946 GOP’s plan to increase people’s real incomes:

“The profits of corporations have doubled, while workers’ wages have increased by only one quarter. In other words, profits have gone up four times as much as wages. And the small increase workers did receive was eaten up by rising prices, which also bored into their savings.”

Gee, that sounds an awful lot like what’s happening now. Soaring corporate profits should mean that workers’ wages go up, also. Instead, more people than ever live paycheck to paycheck, and fewer have any savings to speak of, let alone enough to pay six months of living expenses in case of an emergency. But the stock market has reached record highs several times. So everything’s cool, at least as far as the GOP is concerned.

Ronald Reagan on the “free market” and rising prices:

“High prices have not been caused by higher wages, but by bigger and bigger profits. The Republican promises sounded pretty good in 1946. But what has happened since then? Since the 80th Congress took over? Prices have climbed to the highest level in history, although the death of the OPA was supposed to bring prices down through ‘the natural process of free competition.’”

So, even back then, the Republican ideal of the free market didn’t work the way they insisted, and Ronald Reagan could see that. These days, they still want the government to stay out. They want competition to work for lowering prices and creating jobs. However, the so-called “free market” that they want tends toward monopolies and/or price collusion, which both drive prices up. These two situations prevent new businesses from entering the market to compete, and hurt consumers and workers, while driving profits sky-high.

Ronald Reagan on working Americans: 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: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a Comment »

Offshoring American Enterprise: Good, Bad, or Indifferent?

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: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a Comment »

Another Example of how Corporate Greed Killed American Jobs

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 , About.com Guide

Del Monte to End Pineapple Production in Hawaii

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: , , , , , , , , , , , , , , | Leave a Comment »

Big Business Profit Model Harms Long Term Profitability

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.

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: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a Comment »

Digital divide? What digital divide? We don’t need no stinking “digital divide”!

Posted by Warm Southern Breeze on Sunday, July 8, 2012

“Digital divide?”

What “digital divide”?

We don’t need no steenking “digital divide”!

Funny, ironic, and true.

Haves, meet Have-Nots.

How the digital divide developed in New Orleans & what that means for the future of news there

by Tracie Powell Published July 5, 2012 4:00 pm Updated July 5, 2012 7:03 pm

Come September when changes at The Times-Picayune take effect, not only will New Orleans become the largest city without a daily newspaper, its residents will likely become some of the most disconnected in the country.

New Orleans lags behind the rest of the U.S. when it comes to broadband Internet service connections, according to an investigative report produced by the nonprofit journalism organization The Lens in conjunction with the Center for Public Integrity and the Investigative Reporting Workshop at American University. About half of Louisianans subscribe to broadband services while the national average is 60 percent. Those who do subscribe to broadband Internet service tend to be white and in higher income brackets, the report shows.

Only 43 percent of Americans who make less than $25,000 a year have home Internet access, according to a U.S. Department of Commerce study. “It’s clear that, in the midst of moving toward digital news, many people still need access to information that doesn’t require a computer,” Jesse Hardman writes in the Columbia Journalism Review.

This is especially true in New Orleans, where half the residents make less than $35,000 a year and The Times-Picayune will emphasize digital products, Hardman states. The concern should not be about a business decision, “but on how the citizens of New Orleans are going to get important information if they are not online,” he writes.

Poorer, more African American areas of New Orleans, such as the Lower 9th Ward, have broadband subscription rates between 0 and 40 percent while those living in more rural parts of the area account for subscription rates between 0 and 20 percent, Matt Davis writes in The Lens.

It’s harder to profit from the investment in broadband infrastructure in rural areas where fewer residents live further apart. Among poorer residents, broadband – and even newspaper subscriptions – tend to be luxuries for job seekers or people who are still trying to rebuild homes damaged by Hurricane Katrina nearly seven years ago. The Picayune’s decision to print only three days a week means fewer newspapers will get passed around local barber shops, beauty salons, cafes and convenience stores — places where many people who don’t have broadband access at home often go to exchange information about what’s happening in their neighborhoods.

At the same time, private business executives and public officials seem to be in denial. They aren’t planning for a diminished newspaper presence and are holding out hope that a hero will swoop in and buy The Times-Picayune, even though the paper isn’t for sale. They also continue to support policies that favor the telecom industry rather than working to make broadband more affordable.

The other primary sources of information for poorer residents, television and radio, will have to step up their game to fill in the gap once the Picayune ceases daily publication, media observers say.

Why the Digital Divide

New Orleans is one of the most digitally divided cities in the country. The Lens’ report contains 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: , , , , , , , , , , , , , , , , , , | Leave a Comment »

Q: Why do hospitals charge $75 for aspirin? A: Because they can.

Posted by Warm Southern Breeze on Wednesday, May 2, 2012

It was once a long-standing joke that hospitals charged outrageous prices on medicines.

It’s not a joke anymore.

Once, a healthcare joke went like this:
Q: What’s the difference between a HMO, a PPO and the PLO?

A: You can negotiate with the PLO.

It’s not a joke anymore.

It should also be noted that a study conducted 26 years go by Jack D. McCue, Charles Hansen, and Peter Gal entitled “Hospital Charges for Antibiotics” found that:

“Hospital charges for intravenous antibiotics were obtained in a survey of 71 hospitals in 25 U.S. cities. Only 56.3% of the hospitals used their actual drug acquisition cost to calculate patient charges; the remainder used a base price derived from one of the wholesale price guides, which often seriously overstate the cost of antibiotics. Sixty-eight percent added a markup, averaging 134.5%, and 63.4% added a dispensing fee, averaging $5.47. A relatively high-dose, single-antibiotic regimen costs patients $50-$150 per day, independent of dose-preparation charges (average, $9.09 per dose) for a piggyback-type system or intravenous line-related charges. Antibiotics were least expensive in large hospitals and in those located in the northeastern United States. Charges for antibiotics are often inconsistently calculated, vary enormously among hospitals, and may be unfair to patients and confusing to physicians. Cost-conscious prescribing of antibiotics by physicians would be facilitated by a more consistent relationship between charges and true costs.”

That 1985 study may be found here.

The reader should also understand that in a hospital, ALL medications are administered by prescription only… even aspirin.

Cost Spotlight: A 443% Markup on Prescription Drugs

Kaiser Health News/USA Today shines a spotlight on increasing hospital costs specifically the price markup of over-the-counter and prescription drugs hospitals administer to patients.  The story examines 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: , , , , , , , , , , , , , , , , , , , , , , , , , | 1 Comment »

Rand Paul, Conscription, Slavery, & Health Insurance Reform

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: , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a Comment »

Insurance costs and health-care reform: Are health insurers making huge profits?

Posted by Warm Southern Breeze on Friday, December 3, 2010

Are health insurers making huge profits?

Mar 5th 2010, 14:15 by M.S.

Warhol dollarYESTERDAY Barack Obama dropped in on Kathleen Sibelius‘s meeting with executives of America’s top five health insurers and read a letter from a constituent. Natoma Canfield, a self-employed house cleaner, had carcinoma 16 years ago; it has been in remission for 11 years. Last year Anthem Blue Cross, who provide her with a high-deductible ($2,500) individual plan, raised her premiums 25%, to $6,075. This year they’re raising them another 40%, to $8,500. Ms Canfield  closes her letter, “Please stay focused in your reform attempts as I and many others are in desperate need of your help.”

There’s no doubt that the Obama health-care reform bill would …Continue…

Posted in - Uncategorized | Tagged: , , , , , , , , , , , , , , , , , , , , , , , | 1 Comment »

You Wall Street Mother Fucking Sons of Bitches!

Posted by Warm Southern Breeze on Thursday, December 17, 2009

Brian Williams has reported Thursday, December 17, 2009 on the NBC Nightly News that,

New York state finance officials said today Wall Street is on track to shatter all profitability records this year.

Profits came in at just under FIFTY BILLION dollars

– that’s profit for the first three quarters of 2009 –

and that is much more than was expected for the entire year,

and a stunning TWO-AND-A-HALF times more than the previous record set back in the year 2000.

Bonus payments for bankers and traders could be as much as FORTY percent HIGHER than last year.”

Download the New York State Comptroller‘s report – Review of the Financial Plan of the City of New York, December 2009,  Report 16-2010, by Thomas P. DiNapoli, New York State Comptroller –  here:

http://www.osc.state.ny.us/osdc/rpt16-2010.pdf

See NBC Nightly News video here:

http://www.videonewslive.com/view/404951/video_wall_street_sees_recordbreaking_profits

-AND-

here:

http://www.bing.com/videos/watch/video/wall-street-sees-record-breaking-profits/60a1dyr


Posted in - Did they REALLY say that?, - Read 'em and weep: The Daily News | Tagged: , , , , , , , , , , , , , , , , , , , , , , , , , , , , | 2 Comments »

WWJD Health Care: “Will this make your life better?”

Posted by Warm Southern Breeze on Saturday, October 24, 2009

I regularly contribute commentary to a blog entitled “OFFAir & ONLine,” by Tim Lennox. Mr. Lennox is a Viet Nam veteran and print/broadcast journalist of some years’ experience, and readers will see a link to his blog on this blog. His name or face maybe most recognizable from his 11-year tenure as News Anchor/Host of Alabama’s only statewide news program “For The Record,” broadcast on Alabama Public Television (APTV).

After APTV essentially deep-sixed the award-winning program, and its highly respected Host – calling long distance to bear bad news while he was attending a relative’s funeral almost half-way across the country – Mr. Lennox has quite fortunately again found gainful employment in his field.

Recently, Mr. Lennox cited a news item and posed a question to his readers, which was a reiteration of the same question asked by the subject of a news story to which he linked, and which was, “Will this make your life better?”

It’s said that there are two motivations for people: 1.) Love, and; 2.) Money.

If a person doesn’t do a thing for love, they then do it for money. And there is a word used to describe those whom do things exclusively for money: it’s called “prostitution.”

In that light, I composed the following response:

Fear mongering certainly seems to be Republicans’ political stock in trade.

I write that after reading the inane comments of Republican Nebraska Sen. Mike Johanns in the linked story.

Concerning “government delivered healthcare,” the only comment I have, is that it certainly seems to work quite well for our Soldiers, Sailors and Airmen!

But this issue is NOT about government delivery.

It IS however, about deciding whether our nation can and should continue on the path we’ve been embarked upon for nearly three generations (post WWII era).

That being, whether we shall continue to allow for-profit, Wall Street mega-billionaires and their über-wealthy insurance companies to call the shots on our healthcare by the power of their purse.

They have made their fortunes upon the backs of the suffering, and in the process, because of lack of regulation, caused and increased unnecessary suffering among untold Americans’ lives.

Among other unconscionable and inhumane acts, they have refused to pay for procedures, medications and treatments that healthcare professionals have deemed necessary.

They have refused to pay for treatments after services were rendered after they cashed checks, claiming a “cap” or “incorrect date” was on the check. They’ve constantly changed the “rules of THEIR game,” even in the middle of the “game,” forcing the insured to dance to the tune of THEIR piper… like it or NOT! (Yeah, it’s a mixed metaphor… but it works!)

And these are but two egregious examples. There are countless, and untold MILLIONS more.

One significant reason why healthcare costs in this nation are so out-of-control are because of insurance companies.

It’s a very simple-to-understand idea: 

Anytime anyone gets in between you and the check-out stand, you’re gonna’ pay more.

Analogously, why would you pay me to pay your fuel costs for your automobile? Why would you pay me to pay for your groceries?

We’ve done similarly with our healthcare in this nation for so long (since post WWII) that we’ve become accustomed to it, and act as if it can’t be changed.

Perhaps that “genie can’t be put back into the bottle.”

I don’t know.

But, we can darn sure (and should) do something about the environment in which it is allowed to operate!

Besides… if competition is good (and it is), why would the insurance companies (private enterprise) NOT want competition from the government?

It just doesn’t make sense… like most of what insurance companies say and do.

Whatever they say, I’m disinclined to do, simply because they proven time and time and time again, that they CANNOT be trusted.

They’re in it to make money.

They DON’T give a damn about you.

Take away their profit motive and what do they have left?

No reason for existence.

They’re NOT charitable organizations… like hospitals have historically been.

Christian charities have operated hospitals for longer than health insurance companies have peddled health insurance.

And they did a darn sight better when those whose filthy lucre turned it into a den of thieves stayed out.

Posted in - Did they REALLY say that?, - Read 'em and weep: The Daily News | Tagged: , , , , , , , , , , , , , , , , , , , , , | 2 Comments »

 
%d bloggers like this: