Warm Southern Breeze

"… there is no such thing as nothing."

Posts Tagged ‘Wall Street Journal’

The @GOP’s Love/Hate Relationship With @realDonaldTrump Is Beginning To Show Hair

Posted by Warm Southern Breeze on Sunday, November 13, 2016

November 12, 2016
Day 4: The shit’s starting to hit the fam… er, fan

Donald Trump, the GOP Presidential nominee who appears to have won the 2016 General Election, has reportedly made remarks that he might not, after all, as he proclaimed in his “Contract with the American Voter” that he would “5.) Repeal and Replace Obamacare Act. Fully repeals Obamacare and replaces it with Health Savings Accounts, the ability to purchase health insurance across state lines…”

Strike One:
According to his first post-election interview, which was exclusive to the Wall Street Journal, “President-elect Donald Trump said he would consider leaving in place certain parts of the Affordable Care Act,” and that “Mr. Trump said he favors keeping the prohibition against insurers denying coverage because of patients’ existing conditions, and a provision that allows parents to provide years of additional coverage for children [up to age 26] on their insurance policies.”

Regular readers will recall that yesterday I had made the same observation, that portions of the law are worth keeping.

 President-elect Donald Trump leaves a meeting with Senate Majority Leader Mitch McConnell (R-KY), at the U.S. Capitol November 10, 2016 in Washington, DC Zach Gibson/Getty Images

President-elect Donald Trump leaves a meeting with Senate Majority Leader Mitch McConnell (R-KY), at the U.S. Capitol November 10, 2016 in Washington, DC Zach Gibson/Getty Images

Strike Two:
Senate Majority Leader Mitch McConnell (KY, R) has pointedly said he opposes and will refuse Trump’s first order of business in his Contract with the American Voter which is “Constitutional Amendment for Congressional Term Limits.” The Senator, who has been in office since 1984 (32 years), said, “I would say we have term limits now. They’re called elections. And it will not be on the agenda in the Senate.”

Strike Three:
Furthermore, McConnnell has also said that he’s opposed to Read the rest of this entry »

Advertisements

Posted in - Did they REALLY say that?, - Politics... that "dirty" little "game" that first begins in the home., - Read 'em and weep: The Daily News | Tagged: , , , , , , , , , , , , , , , , , , , , , , , , | 1 Comment »

#DontDoubleMyRate: How a Passive Aggressive GOP Congress Damages Our Nation

Posted by Warm Southern Breeze on Wednesday, July 3, 2013

The Twitter hashtag #DontDoubleMyRate has been trending, off and on, for the past several weeks.

Naturally, the GOP faction, led by Speaker of the House, John Boehner, claims they “appreciate” college students, and “sympathize” with their predicament – which is a crippling blow to our nation, to students, and to universities, public and private, throughout the union.

However, their inaction – more accurately described as passive aggressive behavior – their actions are neither stalwart nor honorable, for they steadfastly refuse to collaborate to do the Good and Right Thing by the people. By claiming they desire to help, and then through their inaction, they actually damage the entire nation.

That type behavior, formerly formally diagnosed by the mental health professionals as “Passive Aggressive Personality Disorder,” is a chronic, long-term condition in which a person seems to actively comply with the desires and needs of others, but actually passively resists them.

People with this disorder resent responsibility and show it through their behaviors, rather than by openly expressing their feelings. They often use procrastination, inefficiency, and forgetfulness to avoid doing what they need to do or have been requested by others to do.

Common characteristics of Passive-Aggressive personality disorder include:

  • Acting sullen
  • Avoiding responsibility by claiming forgetfulness
  • Being inefficient on purpose
  • Blaming others
  • Complaining
  • Feeling resentment
  • Having a fear of authority
  • Having unexpressed anger or hostility
  • Procrastinating
  • Resisting other people’s suggestions

A person with this disorder may appear to comply with another’s wishes and may even demonstrate enthusiasm for those wishes. However, they:

  • Perform the requested action too late to be helpful
  • Perform it in a way that is useless
  • Sabotage the action to show anger that they cannot express in words

The nut of the whole ordeal is that people who exhibit such behavior are inherently selfish, non-communicative, manipulative, and greedy.

And there you have it, Passive Aggressive Behavior.

It’s the perfect definition of the Republican Congress.

Oregon Explores Novel Way to Fund College

By DOUGLAS BELKIN Updated July 3, 2013, 12:25 a.m. ET

As lawmakers in Washington remain at loggerheads over the student-debt crisis, Oregon’s legislature is moving ahead with a plan to enable students to attend state schools with no money down. In return, under one proposal, the students would Read the rest of this entry »

Posted in - Politics... that "dirty" little "game" that first begins in the home., - Read 'em and weep: The Daily News | Tagged: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a Comment »

Avion Espresso Tequila… it’s not just for margaritas anymore!

Posted by Warm Southern Breeze on Friday, June 7, 2013

Pundits at the Wall Street Journal share a quick taste.

Here’s one line you’ll rarely – if ever – hear about tequila:

“Pour this over some Read the rest of this entry »

Posted in - Did they REALLY say that?, - Even MORE Uncategorized! | Tagged: , , , , , , , , , , , , , , | Leave a Comment »

Investigation: Twinkies maker Hostess Brands stole employee pension funds.

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

By JULIE JARGON, RACHEL FEINTZEIG And MIKE SPECTOR

  • 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.

Ryan Nicholson for The Wall Street Journal

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

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

Meet the real “Welfare Mothers.”

Posted by Warm Southern Breeze on Thursday, September 20, 2012

Courtesy of the Wall Street Journal, the real “Welfare Mothers” are found to be…

Over Two-Thirds Of Corporations Pay No Federal Corporate Income Tax

First Posted: 01/10/12 01:03 PM ET Updated: 01/10/12 06:17 PM ET

At a time when the federal government is starved for cash — and facing layoffs and cuts in services across the board — more and more corporations are sidestepping their traditional tax rate and keeping millions of dollars for themselves.

The number of U.S. corporations structuring their businesses in such a way that they can avoid higher taxes has skyrocketed in the past quarter century, The Wall Street Journal reports.

In 1986, about 24 percent of corporations were what’s known as nontaxable businesses — meaning the companies themselves pay no federal income taxes — instead passing on the earnings to individual investors to pay taxes on. By 2008, these businesses accounted for about 69 percent of all corporations, a designation that can save companies hundreds of millions of dollars in a single year

Advocates for the business community have expressed frustration with the country’s 35 percent corporate income tax rate, calling it unreasonably high. In practice, though, it’s common for big businesses to pay much less, thanks to a cornucopia of tax-code loopholes and exemptions won by lobbyists.

The issue of corporate tax participation has become especially pressing in recent years, as the country struggles to manage its ballooning deficits. Corporate taxes for non-financial companies have fallen more than 13 percent since 2007, according to Bloomberg. At the same time, the national debt grew to $15.23 trillion from $9.13 trillion — a number larger than the economy itself.

According to a recent analysis of nearly 300 Fortune 500 companies by the Citizens for Tax Justice, the average company was paying just 18.3 percent in taxes — a little more than half the official rate. And by using techniques like industry subsidies, stock option packages, and moving assets overseas where they can’t be taxed, 30 companies mentioned in the report — including Wells Fargo, Verizon, Boeing and General Electric — didn’t pay a cent in federal taxes in 2008, 2009 or 2010, the report found.
The phenomenon affects state income taxes as well as federal. Last month, another study from the Center for Tax Justice found that corporate tax avoidance had cost states a combined $42.7 billion between 2008 and 2010 — a period when budget shortfalls forced states to cut spending for health care, public schools and care for the elderly and disabled.

http://www.huffingtonpost.com/2012/01/10/corporations-pay-no-tax_n_1196875.html

More Firms Enjoy Tax-Free Status

January 10, 2012
By JOHN D. MCKINNON

StoneMor Partners LP, the publicly traded firm that specializes in running cemeteries, expects to see handsome profits in coming years as baby boomers age and die. But unlike its largest rivals, its corporate tax bill from the federal government will be zero. On the Hike Corporate Taxes

StoneMor is among the many businesses organized so they don’t pay a penny in federal corporate income tax. And yet such firms don’t employ an army of accountants to shield profits in complex tax shelters. Their enviable tax position is perfectly legal and has been encouraged by Congress and state governments. Known as Read the rest of this entry »

Posted in - Lost In Space: TOTALLY Discombobulated, - Read 'em and weep: The Daily News | Tagged: , , , , , , , , , | Leave a Comment »

Music great Bob Dylan: “Wussies & pussies” claim plagiarism

Posted by Warm Southern Breeze on Wednesday, September 12, 2012

Bob Dylan says plagiarism charges made by “wussies and pussies”

8:17pm EDT
By Chris Francescani

U.S. musician Bob Dylan performs on the second day of the Hop Farm Music Festival in Paddock Wood, Kent

U.S. musician Bob Dylan (R) performs on the second day of the Hop Farm Music Festival in Paddock Wood, Kent June 30, 2012. Credit: Reuters/ Ki Price

NEW YORK (Reuters) – Bob Dylan has angrily responded to charges he plagiarized some of his lyrics, calling critics “wussies and pussies” and saying musical appropriation is “part of the folk tradition.”

In an interview with Rolling Stone magazine for its Friday edition, the influential singer-songwriter made his first public comments on the accusations, saying that in folk and jazz music “quotation is a rich and enriching tradition.”

“Everyone else can do it but not me,” he complained. “There are different rules for me.”

Rolling Stone released excerpts of the interview on Wednesday and Reuters obtained a complete transcript.

In 2003, the Wall Street Journal reported that Read the rest of this entry »

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

A Look Back: Wall Street Journal on Presidential Jobs Track Record, from ’39 – ’09

Posted by Warm Southern Breeze on Monday, July 9, 2012

Just in the case we need reminding.

And often, we do.

As Samuel Johnson once wrote, “Men more frequently require to be reminded than informed.”
Johnson: Rambler #2 (March 24, 1750)

January 9, 2009, 12:04 PM ET

Bush On Jobs: The Worst Track Record On Record

By WSJ Staff

President George W. Bush entered office in 2001 just as a recession was starting, and is preparing to leave in the middle of a long one. That’s almost 22 months of recession during his 96 months in office.

His job-creation record won’t look much better. The Bush administration created about three million jobs (net) over its eight years, a fraction of the 23 million jobs created under President Bill Clinton‘s administration and only slightly better than President George H.W. Bush did in his four years in office.

Here’s a look at job creation under each president since the Labor Department started keeping payroll records in 1939. The counts are based on Read the rest of this entry »

Posted in - Did they REALLY say that?, - Faith, Religion, Goodness - What is the Soul of a man?, - Politics... that "dirty" little "game" that first begins in the home. | Tagged: , , , , , , , , , , , , , , , , , | Leave a Comment »

What will America use to fuel her vehicles when gas is $8/gallon? Natural gas – and we may do it much sooner!

Posted by Warm Southern Breeze on Wednesday, May 23, 2012

Natural gas.

In fact, it’s being done now.

It way, way, way, way, way, way cheaper than petroleum, and burns clean too!

If you want to see the future, look at Interstate Commerce.

And, here’s another good side to natural gas as a fuel – because it burns cleaner, the engines last exceedingly longer! So now, your 100,000+ mile vehicle becomes a 200,000+ mile vehicle!

Shale Gas Set to Reshape Trucking

By REBECCA SMITH

Updated May 23, 2012, 4:23 p.m. ET

Rising diesel costs, last year, forced Waste Management Inc. WM +0.91% to charge customers an extra $169 million, just to keep its garbage trucks fueled. This year, the nation’s biggest trash hauler has a new defensive strategy: it is buying trucks that will run on cheaper natural gas.

In fact, the company says 80% of the trucks it purchases during the next five years will be fueled by natural gas. Though the vehicles cost about $30,000 more than conventional diesel models, each will save $27,000-a-year or more in fuel, says Eric Woods, head of fleet logistics for Waste Management. By 2017, the company expects to burn more natural gas than diesel.

Darrold Withrow, 41, is a certified fueler and mechanic at Waste Management, and he fills up a truck with liquefied natural gas in Oakland, California. / Photograph by Alison Yin for The Wall Street Journal

“The economics favoring natural gas are overwhelming,” says Scott Perry, vice president of procurement at Ryder Systems Inc., R +2.31% one of the nation’s largest truck-leasing companies and a transporter of goods for the grocery, automotive, electronics and retail industries.

The shale gas revolution, which cut the price of natural gas to about $2.70 a million British Thermal Units in the past year, already has shaken up the utility industry, which is switching to natural gas from coal in a big way. Vast Amounts of natural gas in shale rock formations have been unlocked by improved drilling techniques, making the fuel cheap and plentiful across the U.S.

Now the shale-gas boom is rippling through transportation. Never before has Read the rest of this entry »

Posted in - Even MORE Uncategorized!, - Read 'em and weep: The Daily News | Tagged: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a Comment »

JPMorgan Chase CEO blames “Errors, Sloppiness & Bad Judgement” for $2B Credit Default Swap & Derivatives loss

Posted by Warm Southern Breeze on Thursday, May 10, 2012

Give particular attention to this sentence, which is found later in the article: “Bank executives, including Dimon, have argued for weaker rules and broader exemptions.”

Give attention also to the last paragraph of the second story: “Of course, this loss only goes to show how weak the Volcker Rule is: Dimon is adamant, and probably correct, in saying that Iksil’s bets were Volcker-compliant, despite the fact that they clearly violate the spirit of the rule. Now that we’ve entered election season, Congress isn’t going to step in to tighten things up — but maybe the SEC will pay more attention to Occupy’s letter, now. JP Morgan more or less invented risk management. If they can’t do it, no bank can. And no sensible regulator can ever trust the banks to self-regulate.”

Is there any remaining argument against deregulating banks?

Is there any remaining argument against re-instituting the Glass-Steagall Act (which separated Banks, Insurance & Wall Street and forbade them from commingling in each others’ businesses)?

Ahead of the Greek financial crisis – in which Goldman Sachs had a direct and unscrupulous role by hiding sales of financial vehicles from Greek, European & American regulators – German chancellor Angela Merkel said this at a March 5, 2010 press conference in Berlin with Greek Prime Minister George Papandreou, (ref: http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a26n.U6qS6cU):

Credit-default swaps, where you insure your neighbor’s house just to destroy it and make money from it, that’s exactly what we have to curb.”  

Now, I wouldn’t expect you or the average reader to be knowledgeable about these things. Honestly, most folks aren’t. But that’s not a condemnation of you, dear reader. Rather, it is a statement acknowledging that banks, bankers, Wall Street types, and Insurance firms do not want to be regulated, and would rather operate free-willy-nilly – without any rules. You and I must  abide by rules. Why shouldn’t they? And as they have consistently demonstrated, they cannot be trusted to do the right thing.

For additional information on Goldman Sachs involvement in the Greek Debt Crisis, I refer you to this 02/08/2010 news item from German news magazine, Der Spiegel: “Greek Debt Crisis How Goldman Sachs Helped Greece to Mask its True Debt,” By Beat Balzli.

JPMorgan Chase acknowledges $2 billion trading loss and ‘many errors’

By Associated Press, Updated: Thursday, May 10, 6:05 PM

JPMorgan Chase, the largest bank in the United States, said Thursday that it lost $2 billion in the past six weeks in a trading portfolio designed to hedge against risks the company takes with its own money.

The company’s stock plunged almost 7 percent in after-hours trading after the loss was announced. Other bank stocks, including Citigroup and Bank of America, suffered heavy losses as well.

“The portfolio has proved to be riskier, more volatile and less effective as an economic hedge than we thought,” CEO Jamie Dimon told reporters. “There were many errors, sloppiness and bad judgment.”

The trading loss is an embarrassment for a bank that came through the 2008 financial crisis in much better health than its peers. It kept clear of risky investments that hurt many other banks.

The loss came in a portfolio of the complex financial instruments known as derivatives, and in a division of JPMorgan designed to help control its exposure to risk in the financial markets and invest excess money in its corporate treasury.

Bloomberg News reported in April that Read the rest of this entry »

Posted in - Lost In Space: TOTALLY Discombobulated, - Read 'em and weep: The Daily News | Tagged: , , , , , , , , , , , , , , , , , , , , , | Leave a Comment »

Some bloggers censor, censure, limit & forbid comments. I don’t.

Posted by Warm Southern Breeze on Tuesday, April 10, 2012

I may take a different tack than some bloggers, and I have only in extreme cases (translate: virtually never) blocked, deleted or censored comments.

The reason why is rather simple.

And it is, that often, the comment says more about the commenter than the topic.

Sure, some folks have written nasty, vile & vitriolic commentary upon some entries posted here, but fortunately, they are the exception, rather than the rule.

Even if a topic is hotly debated, discourse should be civil, though the bane of many forums is that remarks upon them are not.

GKChesterson writing at desk

Gilbert Keith Chesterton was a 20th Century British man of letters, towering intellect and stature.

Regarding disagreement, G.K. Chesterton (1874-1936) was a man of towering intellect and stature – who in addition to being an English journalist by profession, was a respected man of letters, novelist, essayist, author & poet who also produced works on philosophy, social and literary criticism – had several thoughts on disagreement and quarrels, among others.

He once wrote that Read the rest of this entry »

Posted in - Did they REALLY say that?, - Even MORE Uncategorized! | Tagged: , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a Comment »

 
%d bloggers like this: