Entries Tagged as 'Economy'

Occupy Wall Street

Occupy Wall Street
Occupy Wall Street
By Adam Zyglis, The Buffalo News

Originally posted 2011-10-10 02:00:28.

Hidden Evil

Many of my friends and I have engaged in intellectual discussions about the evils of society and what most needs to be fixed.

Views of what’s evil, though, largely depend on your perspective — social liberals might call something evil that a fiscal conservative feels is simply just; and vice-versa.

If you’re a conspiracy buff you’ll enjoy reading through the TheHiddenEvil.com.  Volume I contains a number of factoids, and draws interesting conclusions (I’m certainly not going to say I agree with any or all of them).  Volume II builds on Volume I to make some fairly remarkable assertions — of maybe they’re just hard to believe (or hard to read without a giggle or two at least).

With disinformation an accepted practice of government, organized religion, and business it’s always hard to say definitively what is true and what is a shade of gray.

Originally posted 2010-01-22 02:00:23.

What’s Happening to MY $700B?

Oh, that’s right, we all spend seven hundred billion dollars so often I should be more specific… that would be the $700B “we” Americans authorized under the Emergency Economic Stabilization Act

The October 29, 2008 report is up on the US Treasury Site now — you should take a look at it to see who’s getting your money.

Some comments:

  • You’ll notice the list includes several financial institutions who have purchased or are attempting to purchase the distressed assets of smaller banks; I guess we know where they’re getting the money.
  • It’s really convenient that they were able to get just the right number of mortgage instruments together to be valued at an even billion each (hell I can’t remember the last time my credit card bill was an even dollar).

If I sound a little leery of what the “usual suspects” are doing with my money — I am… I want to make sure I get it back (with INTEREST), and I certainly don’t want anyone to expect me to pay for any of these financial institutions mistakes and poor judgment — I’ve already lost 36% of my retirement account, and I haven’t seen any government bailout for that!

http://www.ustreas.gov/initiatives/eesa/transactions.shtml

Originally posted 2008-11-14 08:00:52.

WhiteHouse.gov Petition – The federal government should implement the proposed minimum wage for all federal employees now.

Require the federal government to immediately raise pay for all federal employees to comply with the new proposed minimum wage.

…click here…

 


Shouldn’t the US government set an example to business and state governments by paying it’s employees the proposed new minimum wage?

Sign the petition.

Originally posted 2014-04-30 18:00:06.

The Dawn…

And now the dawn of a new day and with it a new year…

Once our collective head ache clears I’m sure the future will seam sunny and bright; even though today is overcast and bleak.

Originally posted 2010-01-01 01:00:22.

Apple – Double or Nothing?

Yesterday Apple announced another record quarter in sales.  In fact, iPhone sales doubled in Q4 2009 (a good holiday present for Apple).

Tomorrow Apples announces a new tablet computer (at least that’s the rumor of what they will announce).

Google has a lot of ground to catch up with Apple in the phone market, and it certainly doesn’t appear that Apple is going to just stand by and wait for them.

I guess the one thing that Apples numbers show is that there is money to be made in economic hard times if you’ve got something people want.

Originally posted 2010-01-26 01:00:44.

US Poverty

The Census Bureau released new numbers on the US poverty rate yesterday — 14.3% last year; the highest since 1994.

Largely due to the rising unemployment amount working age individuals in this country (even the US government admits unemployment to be in double digits — and we can all be sure that they minimize the numbers as much as they can through their creative accounting and adjustments).

13.9%, or 39.8 million people in 2008 to 14.3%, or 43.6 million people in 2009… and you can be sure that number will be even higher in 2010.

The report also showed the number of Americans without health coverage rose form 15.4% to 16.7% (or 50.7 million people); mainly because of the loss of employment and employer-provided health insurance.  And the new health care provisions were passed; the main provisions won’t take effect until 2014.

Because of the Recovery Act and many other programs providing tax relief and income support to a majority of working families — and especially those most in need — millions of Americans were kept out of poverty last year.
· President Barrack Obama

The really incredible thing is that the numbers were expected to be much worse — and in fact it’s likely that increases in Social Security payments and expansion of unemployment insurance through federal extensions helped keep the numbers in check.

Clearly those earning over $250,000 need to have their tax cuts renewed!

Originally posted 2010-09-17 02:00:40.

What taxpayers want

There is a good read on CNN.com by Lou Zickar entitled What taxpayers want (yes, I leveraged the title), it’s very well written and compelling; but I think it fails to be totally upfront and honest about the problem and is overtly politically spun.

You see, taxpayers also happen to be the electorate… so what they want they express by voting in each election and determining who goes to Washington (as well as their local and state seats of government) to make decisions — and since by-far-and-large voters have sent the same people back to Washington in some cases for nearly 60 years, taxpayers need look no further than the nearest mirror to see where the problem is.

If you vote for the same person election after election who has contributed to the problems, then you are getting exactly what you’ve ask for, and thus what you must want… if you want change, start at the ballot box.

But, realistically — I don’t see this happening.

America has become the home of the content, and the land of entitlement… entitlement which starts at the top and stretch to the very roots of society; and no one is willing to give up their “special” dispensations, but expect everyone else to do so.

Change is easy, and every individual is a part of it — all you have to do is send a real message to your elected officials, send them all home (for good).


What taxpayers want by Lou Sickar on CNN.com

Originally posted 2011-08-21 02:00:23.

Ups and Downs

Just as the trucking industry tells us that delivery volume has been steadily increasing since the beginning of the years; retailers tell us that consumers are beginning to spend less.

And the Commerce Department announced that the recession was deeper than previously estimated.

Who’s doing the estimates?

Anyone with any sense knew the economy was in bad shape, and that it would likely take a number of years before there was any real improvement, and potentially a decade before we truly recovered.

You have to ask yourself are the people in Washington DC and on Wall Street stupid — or do they just think the American public are so stupid they will believe anything?

Personally I feel this is a catastrophic event in World history that requires leadership to acknowledge it’s severity and begin making long term plans for recovery while creating short term safety nets to keep society afloat.

Just one more sign that anyone who’s been in office in this country isn’t part of the solution — they’re part of the problem.

INCUMBENTS

Originally posted 2010-08-05 02:00:45.

CEO Pay Cut

I don’t think any of them need to worry about landing in the poor house, but here’s a list of the twenty largest pay cuts this year.  I guess the economy must be down — perhaps we can take up a collection to help them all out.


  1. Lloyd C. Blankfein, -$40.1 million
    Company: Goldman Sachs Group (GS)
    2009 salary: $600,000 (same as 2008)
    2009 bonus, options and other comp: $262,657 (down $40.1 million from 2008)
    Lloyd C. Blankfein
  2. Vikram S. Pandit, -$38.1 million
    Company: Citigroup (C)
    2009 salary: $125,001 (down $833,332 from 2008)
    2009 bonus, options and other comp: $3,750 (down $37.3 million from 2008)
    Vikram S. Pandit
  3. James Dimon, -$34.5 million
    Company: JPMorgan Chase (JPM)
    2009 salary: $1,000,000 (same as 2008)
    2009 bonus, options and other comp: $265,708 (down $34.5 million from 2008)
    James Dimon
  4. Robert A. Iger, -$29.5 million
    Company: Walt Disney (DIS)
    2009 salary: $2,038,462* (up $38,462 from 2008)
    2009 bonus, options and other comp: $19.5 million (down $29.5 million from 2008)
    Robert A. Iger
  5. David M. Cote, -$15.9 million
    Company: Honeywell International (HON)
    2009 salary: $1,800,000 (down $25,962 from 2008)
    2009 bonus, options and other comp: $11 million (down $15.9 million from 2008)
    David M. Cote
  6. Richard H. Anderson, -$15.7 million
    Company: Delta Airlines (DAL)
    2009 salary: $600,000 (same as 2008)
    2009 bonus, options and other comp: $1.2 million (down $15.7 million from 2008)
    Richard H. Anderson
  7. Louis C. Camilleri, -$12.4 million
    Company: Philip Morris International (PM)
    2009 salary: $1,500,000 (down $67,308 from 2008)
    2009 bonus, options and other comp: $23 million (down $12.3 million from 2008)
    Louis C. Camilleri
  8. Rupert Murdoch, -$12.1 million
    Company: News Corp. (NWSA)
    2009 salary: $8,100,000* (same as 2008)
    2009 bonus, options and other comp: $9.8 million (down $12.1 million from 2008)
    Rupert Murdoch
  9. Kenneth I. Chenault, -$11.3 million
    Company: American Express (AXP)
    2009 salary: $1,201,923 (down $48,077 from 2008)
    2009 bonus, options and other comp: $15.4 million (down $11.2 million from 2008)
    Kenneth I. Chenault
  10. Mark V. Hurd, -$9.8 million
    Company: Hewlett-Packard (HPQ)
    2009 salary: $1,268,750* (down $181,250 from 2008)
    2009 bonus, options and other comp: $22.9 million (down $9.6 million from 2008)
    Mark V. Hurd
  11. Kenneth D. Lewis, -9.0 million
    Company: Bank of America (BAC)
    2009 salary: 0* (down $1.5 million from 2008)
    2009 bonus, options and other comp: $32,171 (down $9.0 million from 2008)
    Kenneth D. Lewis
  12. Stephen A. Roell, -$8.4 million
    Company: Johnson Controls (JCI)
    2009 salary: $1,371,500* (up $46,500 from 2008)
    2009 bonus, options and other comp: $5.1 million (down $8.5 million from 2008)
    Stephen A. Roell
  13. James W. Owens, -$7.9 million
    Company: Caterpillar (CAT)
    2009 salary: $1,550,004* (same as 2008)
    2009 bonus, options and other comp: $5.2 million (down $7.9 million from 2008)
    James W. Owens
  14. John B. Hess, -$7.8 million
    Company: Hess (HES)
    2009 salary: $1,500,000 (same as 2008)
    2009 bonus, options and other comp: $12.1 million (down $7.8 million from 2008)
    John B. Hess
  15. John T. Chambers, -$6.0 million
    Company: Cisco Systems (CSCO)
    2009 salary: $375,000* (same as 2008)
    2009 bonus, options and other comp: $12.4 million (down $6.0 million from 2008)
    John T. Chambers
  16. Miles D. White, -$3.2 million
    Company: Abbott Laboratories (ABT)
    2009 salary: $1,852,319 (up $56,848 from 2008)
    2009 bonus, options and other comp: $20.1 million (down $3.2 million from 2008)
    Miles D. White
  17. Daniel R. Hesse, -$3.1 million
    Company: Sprint Nextel (S)
    2009 salary: $1,200,000 (same as 2008)
    2009 bonus, options and other comp: $11.1 million (down $3.1 million from 2008)
    Daniel R. Hesse
  18. Thomas M. Ryan, -$3.0 million
    Company: CVS Caremark (CVS)
    2009 salary: $1,400,000 (same as 2008)
    2009 bonus, options and other comp: $14.8 million (down $3.0 million from 2008)
    Thomas M. Ryan
  19. Ivan G. Seidenberg, -$2.9 million
    Company: Verizon Communications (VZ)
    2009 salary: $2,100,000 (same as 2008)
    2009 bonus, options and other comp: $14.9 million (down $2.9 million from 2008)
    Ivan G. Seidenberg
  20. Frederick W. Smith, -$2.7 million
    Company: FedEx (FDX)
    2009 salary: $1,355,028* (down $75,438 from 2008)
    2009 bonus, options and other comp: $6.4 million (down $2.6 million from 2008)
    Frederick W. Smith

Source: Equilar Inc.

Originally posted 2010-08-22 02:00:27.