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The economy was ruined by corporate greed, stock

Posted By: market greed, and a Pres. who helped enable it. on 2009-01-03
In Reply to: HATCHET JOB, that is. By the way, look at the - hatchet job the dems did to the economy.thanks.nm

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What about the corporate greed fctor?
x
NO! Major corporate & CEO greed & mismanagement
Same thing happened to Mervyn's Dept. Stores... greedy big company bought them up, then ran them into the ground. They were great stores, too.

No tears shed here for the corporate shake-outs going on in many industries: Auto, financial, stock market, power, etc. I just hope they eventually grab the HEALTH CARE industry by the scruff of the neck and give it a good shaking, as well. NO PITY HERE.
Corporate greed, politician back-scratching,

The DEMS ruined our economy for the past 2 years.
nm
DHL ruined Airborne all on their own.

My husband was a top person at DHL for 3 years in Snottsdale, I mean Scottsdale and did not like how they ran the company.  Three people died in their 40's due to heart attacks because of working to death and another committed suicide.  Many, many left DHL a few years ago after being their for 10 years or more (including my husband).  DHL did it all on their own.  Got too big too fast and wanted to take over. 


who ruined this country?
I think it is pretty obvious who ruined this country over the last 8 years as proven by the outcome of the last election. President-elect Obama is not in office yet. Trillions of dollars in debt, an unwinnable war, unemployment, sell-out to the banks but scrap the auto industry......and GW still wields the veto wand. Don't even bring party into this - I would have voted for Paris Hilton before I let another corrupt crony of GWs get into office again.
CA's problems have more to do with greed, over-
And we were having those problems when the President was still in diapers. So don't try to pin our problems on him.

Whenever the economy slows (as in the burst tech-bubble in the 90's), and people start to pack their U-hauls and leave Cali, I rejoice. Rents drop, and sometimes you can even score a parking-place.

Topaz
Our whole country is sinking itself. Greed is

So those corporate welfare deadbeats
don't count as socialism? Wait...this bulletin just in. Nobody cares about your e-mail.
Greed may have disasterous results....sm
DC bars are going to stay open 24 hours a day for 4 days during the inauguration.  I can see trouble on the way...........

http://www.foxnews.com/politics/2008/12/05/police-union-fears-inaugural-chaos/

OTOH, maybe they can use the tax dollars to help offset the Big 3 bailout. 
Greed and corruptionhas been going on longer than

 you think, from the beginning of time. It's just now more in the open with the media and technology. It wasn't just "under the Republicans" as you state. It's been going on under the dems, too, and still going on. Look at Barney Fife and some of the others. Some get caught, others do not.


If you look at the websites for contributions, then the pork, you would know what I'm talking about.


Absolutely! No corporate giveaways! nm
x
Greed is a conservative's pillow at night
How very amusing to hear your point of view!  After Katrina I asked for no help at all, as I didn't need it.  Funny how my rich Republican landlords (who lived elsewhere and simply came to check out the state of their investments) were the first ones grabbing the free meals distributed by the Red Cross and the first in line for any other handouts.  I truly love the way conservatives loudly deplore giving help to anyone, then snatch any freebies they can get when there's any to be had.
Since when is a tax cut welfare? Corporate bail-outs, maybe...
corporations and plans to continue W's tax cuts for the rich in 2011. Is that welfare too? Sheesh.
Big-3 corporate CEOs arrived in Washington in - sm
PRIVATE Lear jets to ask for a bailout. Proof positive that those people don't have a clue how to run a successful business, which is why the auto industry is now failing.

I don't want to see them get a penny only to squander it. Before I'd give a thumbs-up to any kind of a bailout, they need to:

a) SELL the jets.

b) Redesign, retool, and get out of bed with the oil industry, so they can get us independent of fossil fuels. If they had used their brains, and built cars that were equal to or better than the foreign manufacturers in quality, safety, and efficiency, they wouldn't be in this pickle. But no, they wanted their big profits NOW, and screw the future. Well, the future has now come and bit them in the behind.

c) Part of the retooling process should include dumping the CEOs (who are obviously worthless) and all upper management. The average Joe line-assemblyman could probably run those companies better than the fat-cat CEO's have been doing.
Does corporate welfare qualify as wealth redistribution
nm
They're busy trying to fix the mess the House Of Greed

Larger-Than-Life Corporate Salaries are Unfair to Average American Workers. see article.

Commentary: Larger-Than-Life Corporate Salaries are Unfair to Average American Workers


Date: Friday, April 14, 2006
By: Judge Greg Mathis, BlackAmericaWeb.com



Despite slower-than-anticipated growth and lower-than-expected profits, many corporations have generously rewarded their leaders, while simultaneously reducing lower-level staff salaries and benefits in an attempt to control costs. This disturbing practice only serves to further widen the gap between America’s wealthy few and its working class and clearly demonstrates just how little this country values its workforce.


At a time when most American workers are struggling to make basic ends meet and worrying how they’ll manage to save enough for retirement, many of this country’s corporate chief executives are stuffing their pockets with larger-than-life compensation packages that include high base salaries, stock options and ample pension plans. In 2004, the average chief executive’s salary at a large company was more than 170 times that of the average worker’s pay. Last year, executive salaries grew 25 percent, while that of the average American worker grew only 3.1 percent. 




Even when a company struggles, their CEOs are still rewarded. For example, the current CEO of a global manufacturing firm received over $11 million in compensation last year, despite the company’s $3.4 billion revenue loss, an 11-percent drop in stock value and a staff reduction of 17,000 workers. There are similar stories at corporations across the country. While worker pensions are frozen and many are asked to do without raises, CEOs manage to earn their multi-million dollar bonuses.


It’s no surprise that CEOs are cleaning up. Consider this: Corporations often use compensation committees to set their executive salaries. Many of these committees use outside consultants to help guide the process. These consultants are often already contracted to do other work for the company. The conflict of interest here is obvious: The consultant won’t upset the CEO -- and risk losing other contracts -- by setting a more realistic, performance based pay model.


Many corporate CEOs are, in short, getting over, and it is a slap in the face of every American worker. While it is understood that executive salaries would greatly exceed that of the average worker’s, there is no logical argument to explain why the growth rate between the two is so dramatically different. To protect its workforce, corporate America must ensure worker’s salaries grow at rates that keep pace with the cost of living, while slowing the rate of growth of CEO salaries. Corporate boards must stop rewarding CEOs with multi-million dollar bonuses. It is unacceptable for a company to lay off thousands of workers and then turn around and pay an executive for a job well done.


As a country, we often ask our government to think about the needs of the average American, and rightly so. However, if America is to truly prosper, the corporations that feed our local economy must also consider and respect the well-being of average worker.


---


Judge Greg Mathis is national vice president of Rainbow PUSH and a national board member of the Southern Christian Leadership Conference.


Not sure I'd put much stock in

a not-very-scientific poll of under-18s.  I imagine they think it's...like... totally way-cool to be a hyphenated-American, whether they actually are, or not.  African-American, Asian-American, Hispanic-American,  Native-American, Vulcan-American..ya' know?  What ever....  


Back in the ླྀ's a friend of mine spent one summer with a mission group on an Indian reservation, and thereafter tried to pass herself off as full-blooded Sioux (which is unlikely when you're a blonde.)  It was just more interesting than being a white chick.


And why don't Caucasians get to use the hyphen?  Hardly anybody claims to be Irish-American, German-American, French-American, British-American (that sounds weird).


Maybe we should march and demand our rights.  Two!  Four!  Six!  Eight!  We wanna hyphenate!   Whitebread!  Whitebread!  Yeaaaaah!


I don't put much stock in polls....
however, McCain is the first to break the 50% mark. And I trust Gallup and rasmussen more than I trust Fox polls, CNN polls or other media outlet polls. Although CBS did show McCain with a lead too. Still, it is encouraging, and a pretty big whoop...lol
stock market
Everybody was playing on the fear factor. Panic sets in and everybody starts selling. According to what I have heard, there are now great stock buys and that is what they are seeing.

Everybody gets so wrapped up in this "sky is falling" mentality and that is what the government hopes.

All their little nay sayers trying to scare the sense out of everybody but what they are hearing from their constiuents say do NOT say yes to the bill. The people do not believe that everything is going to h@ll in a hand basket if they vote NO to the bill.

I'm sure a lot more votes would have been yes yesterday if it had not been for their constituents faxing, calling, and e-mailing telling them they oppose such bailout.
Well here we go. Stock market -411.30 plus

Barney Fife writing proposal now to bail out the automakers with $25B stipulating GOVERNMENT OWNERSHIP.


The government is backing away from buying troubled mortgages and now are going to put it in an investment program taking capital. The facts changed.  His approach is to give banks enough cash to keep homes on the books and keep cash in the banks.


They will not bail out those people who shouldn't have taken out the loans in the first place.


American Express is jumping on the bailout wagon requesting $3.5B.


They really opened a can of worms here.


So the stock market's down.... sm
How bad is it?  According to the article linked below...........

With Thursday’s rout, $8.3 trillion in stock market wealth has been erased in the last 13 months.

For more info......  http://www.nytimes.com/2008/11/21/business/21markets.html?pagewanted=1&_r=1
Stock Surge

March 13, 2009 8:42 AM


Citi Execs Make Killing On Stock Surge


Posted by Daniel Carty

 


Citigroup's recent upbeat news about its profitability has driven Wall Street's surge this week, but it also generated $2.2 million for four executives who bought millions of shares of company stock nine days ago, reports Bloomberg.

According to regulatory filings, director Roberto Hernandez bought 6 million shares on March 2 for an average price of $1.25. The stock touched a record low of $0.97 on March 5, but five days later CEO Vikram Pandit issued an internal memo saying the bank turned a profit over the first two months of the year. That news drove Citi shares up 47 percent to its Thursday close of $1.52, giving Hernandez a $1.7 million profit on paper, reports the news agency.

"You’re supposed to buy when everyone else is selling,” Bruce Foerster, a former Lehman Brothers Holdings Inc. managing director who now runs South Beach Capital Markets in Miami, told Bloomberg. He said banks have internal monitoring systems to keep an eye on executive trades and prevent abuses.

Other executives include Latin America CEO Manuel Medina-Mora, who bought 1.5 million shares on March 3 at an average price of $1.24, Vice Chairman Lewis Kaden with 100,000 shares and controller John Gerspach with 65,000, reports Bloomberg.

In the last year, Citi's stock value has plummeted 95 percent as the company has suffered five straight quarters of losses.

Hernandez said he plans to step down from Citi's board after the bank's annual meeting in April but will keep his non-executive chairmanship of the company's Mexican bank, Banamex, reports Bloomberg.


So what!!!! Where were you when the stock market went down
Haven't you learned your lesson yet. You only comment on a good day and remain silent with the rest of the crats on a bad day.

How many people on this board have been telling you to quit commenting every time the market hiccups. But you feel this need to only comment when it goes up.

Your post is not worth the time reading.
Where women are little more than breeding stock???
If some women were a little more discerning about who they slept with and a little more careful about taking precautions, we would not have to fix 2000+ "oopses" in a day. So go right ahead...fund irresponsibility, infanticide, and baby killing. Knock yourself out. Make planned parenthood richer. don't you think there is something sick about making a profit from killing babies??
Hm-m-m. Anybody notice the stock market is up, and

financial gained 16% today. That's curious. Can someone explain why?


I just think it's because the stocks were so low yesterday that it was a buyer's market.


 


 


The stock market went from +250 to -150 after the vote. nm
.
Stock up on blankets and firewood...... sm
It's gonna be a looooong hard winter.

I'm thankful that I do have fireplace and I know how to cook on an open fire if I need to. I have 2 redneck sons who can go shoot us some vittles, that is until the gun police come and confiscate them. I really feel for those folks in the cities who have no alternative but electric heat and what they can cook on their electric stove.
Have you noticed how the stock market goes up
or how the media has been fueling that engine by pushing and pushing and obsessing over the cabinet appointments in search of dirt to dig up on them?

Obama has been trying to give voters a little reassurance, but I supposed lots of folks will find something wrong with that too.
The stock market will never, ever, see another dime of

Maybe you shouldn't put too much stock in left-

leaning polling companies, Mrs.  The fact, Obamanation's poll numbers are dropping and dramatically.  However, I don't think he cares a fig.  His real agenda is to destroy the economy, and when anarchy comes and his mask removed, he'll institute marshal law, and set himself up as dictator.  That's his plan and those who pull his marionette strings.  He is tooooooooooooo stoooooooooopid to do it on his own.  That's what he has surrounded himself with left-wing America hating "experts."  You'll be singing a different tune before long.


 


 


that's your problem. You put too much stock in a book written
Why do people say no flames please when they make inflamatory statements? You must like the attention.
Bush is NOT in charge of the stock market

Wall Street,. Nancy Pelosi, Barney Fife, and the others are making it worse with all their stupid ideas.


They WANT this to happen and give more stimulus checks to people so the people will think they are the greatest since apple pie. 


I don't see any of them trying to figure out what to do that will help us except throw money away to the groups that are keeping the money to pay their bonuses and take trips.


who cares about the stock market anymore? it's
my stock-based 401K is all but gone, and even if i had the money next year, or ever, not a cent of it will ever go back into the stock market's house of cards. so i personally dont give a rip what happens to it from here on out.
Don't forget to stock up on those tin foil hats!
x
And the stock market LOVES it while Boy Wonder flits around!
//
Excuse me? Sorry, I was diversifying my stock portfolio
don't care about the debate - just stated my opinion. And, yes, I like sitting on my butt and making money = "open your own company." Mmmm hmmm. Works like a charm, eh?
Senator Sold Stock Before Price Dropped

Martha Stewart comes to mind.


Shares Fell Two Weeks Later



By Jonathan M. Katz
Associated Press
Wednesday, September 21, 2005; Page A03



Senate Majority Leader Bill Frist, a potential presidential candidate in 2008, sold all his stock in his family's hospital corporation about two weeks before it issued a disappointing earnings report and the price fell nearly 15 percent.


Frist held an undisclosed amount of stock in Hospital Corporation of America, based in Nashville, the nation's largest for-profit hospital chain. On June 13, he instructed the trustee managing the assets to sell his HCA shares and those of his wife and children, said Amy Call, a spokeswoman for Frist.







 

 

 

 

 


 

Frist's shares were sold by July 1 and those of his wife and children by July 8, Call said. The trustee decided when to sell the shares, and the Tennessee Republican had no control over the exact time they were sold, she said.


HCA shares peaked at midyear, climbing to $58.22 a share on June 22. After slipping slightly for two weeks, the price fell to $49.90 on July 13 after the company announced its quarterly earnings would not meet analysts' expectations. On Tuesday, the shares closed at $48.76.


The value of Frist's stock at the time of the sale was not disclosed. Earlier this year, he reported holding blind trusts valued at $7 million to $35 million.


Blind trusts are used to avoid conflicts of interest. Assets are turned over to a trustee who manages them without divulging any purchases or sales and reports only the total value and income earned to the owner.


To keep the trust blind, Frist was not allowed to know how much HCA stock he owned, Call said, but he was allowed to ask for all of it to be sold.


Frist, a surgeon first elected to the Senate in 1994, had been criticized for maintaining the holdings while dealing with legislation affecting the medical industry and managed care. Call said the Senate Select Committee on Ethics has found nothing wrong with Frist's holdings in the company in a blind trust.


To avoid any appearance of a conflict of interest, Senator Frist went beyond what ethics requires and sold the stock, Call said. Asked why he had not done so before, she said, I don't know that he's been worried about it in the past.


An HCA spokesman said the company had no part in Frist's decision.


Frist's father, Thomas, founded the company, and his brother, Thomas Jr., is a director and leading stockholder. The family is worth $1.1 billion, according to Forbes magazine.


HCA -- formerly known as Columbia HCA Healthcare Corp. -- has been a top contributor to the senator's campaigns, donating $83,450 since 1989, according to the Center for Responsive Politics.


The sale of the shares was first reported by Congressional Quarterly.



Guess that 1-day stock market rally didn't exactly
x
They're the laughing stock of the journalistic community. LOL
nm
don't stock investors have a lot to loose if dems get in the white house again?
just asking because this company's business is investments and stocks
I saw Jim Cramer this morning too. I have J&J stock and my 401K through Merrill Lynch
I am really upset and not sure what to do.

Stock Market diving since Obama spoke today.
nm
McCain has fogotten the stock market crash, mortgage/credit crisis,
unemployment rates, job losses, stagnant wages, rising prices in gas, food, health care, etc, etc, etc.
Here's another one regarding the economy.

And you're right.  Some people do. 










The Joyless Economy
by Paul Krugman
The New York Times
December 5, 2005


Falling gasoline prices have led to some improvement in consumer confidence over the past few weeks. But the public remains deeply unhappy about the state of the economy. According to the latest Gallup poll, 63 percent of Americans rate the economy as only fair or poor, and by 58 to 36 percent people say economic conditions are getting worse, not better.

Yet by some measures, the economy is doing reasonably well. In particular, gross domestic product is rising at a pretty fast clip. So why aren't people pleased with the economy's performance?

Like everything these days, this is a political as well as factual question. The Bush administration seems genuinely puzzled that it isn't getting more credit for what it thinks is a booming economy. So let me be helpful here and explain what's going on.

I could point out that the economic numbers, especially the job numbers, aren't as good as the Bush people imagine. President Bush made an appearance in the Rose Garden to hail the latest jobs report, yet a gain of 215,000 jobs would have been considered nothing special - in fact, a bit subpar - during the Clinton years. And because the average workweek shrank a bit, the total number of hours worked actually fell last month.

But the main explanation for economic discontent is that it's hard to convince people that the economy is booming when they themselves have yet to see any benefits from the supposed boom. Over the last few years G.D.P. growth has been reasonably good, and corporate profits have soared. But that growth has failed to trickle down to most Americans.

Back in August the Census bureau released family income data for 2004. The report, which was overshadowed by Hurricane Katrina, showed a remarkable disconnect between overall economic growth and the economic fortunes of most American families.

It should have been a good year for American families: the economy grew 4.2 percent, its best performance since 1999. Yet most families actually lost economic ground. Real median household income - the income of households in the middle of the income distribution, adjusted for inflation - fell for the fifth year in a row. And one key source of economic insecurity got worse, as the number of Americans without health insurance continued to rise.

We don't have comparable data for 2005 yet, but it's pretty clear that the results will be similar. G.D.P. growth has remained solid, but most families are probably losing ground as their earnings fail to keep up with inflation.

Behind the disconnect between economic growth and family incomes lies the extremely lopsided nature of the economic recovery that officially began in late 2001. The growth in corporate profits has, as I said, been spectacular. Even after adjusting for inflation, profits have risen more than 50 percent since the last quarter of 2001. But real wage and salary income is up less than 7 percent.

There are some wealthy Americans who derive a large share of their income from dividends and capital gains on stocks, and therefore benefit more or less directly from soaring profits. But these people constitute a small minority. For everyone else the sluggish growth in wages is the real story. And much of the wage and salary growth that did take place happened at the high end, in the form of rising payments to executives and other elite employees. Average hourly earnings of nonsupervisory workers, adjusted for inflation, are lower now than when the recovery began.

So there you have it. Americans don't feel good about the economy because it hasn't been good for them. Never mind the G.D.P. numbers: most people are falling behind.

It's much harder to explain why. The disconnect between G.D.P. growth and the economic fortunes of most American families can't be dismissed as a normal occurrence. Wages and median family income often lag behind profits in the early stages of an economic expansion, but not this far behind, and not for so long. Nor, I should say, is there any easy way to place more than a small fraction of the blame on Bush administration policies. At this point the joylessness of the economic expansion for most Americans is a mystery.

What's clear, however, is that advisers who believe that Mr. Bush can repair his political standing by making speeches telling the public how well the economy is doing have misunderstood the situation. The problem isn't that people don't understand how good things are. It's that they know, from personal experience, that things really aren't that good.


The economy. It's not going anywhere
counting.
Economy going down is right.
work for, the largest transcription company in the US, is now paying us for ASR, 60% and others will get straight 4 cents a line. 
Actually, no, not the economy....(sm)
I was actually referring to Pelosi and her power grab, cutting off all GOP opposition, behind closed doors, that no one will ever hear about again, from the other day.

And did you catch Barney Frank today on the retroactive rules on the TARP?


http://www.newsmax.com/politics/tarp/2009/01/09/169663.html?utm_medium=RSS
What I am doing to help the economy

1.  I pray for this country and the president every day.


2.  I'm not constantly complaining about everything.


3.  I am not watching the DOW like it's American Idol.


4.  I’ve taken fiscal responsibility for me and my home.


5.  I give what I can to the food banks and my church etc. to help those who need help.


 


I did not vote for President Obama.  I do not think he is the messiah and I certainly will not blame him for the mess we are in right now simply because we all played a part.  No one forced anyone to take house loans that they could not pay, no one forces us to use our credit card and run up debts and live beyond our means, no one predicted that you would take a loan and then lose your job and be in foreclosure and no one regulated the banks like they should of.


 


Now that being said, in a crisis it is so easy to look for someone to blame, become angry, and forget who we are.  So my advice the next time you are at your kitchen table wondering how you are going to make ends meet, that you remember who you are, an American.  I would also advise getting some debt management help.


 


So please, instead of running around with your hands up in the air thinking the worst and claiming the sky is falling, try listening to the Star Spangled Banner or something that is positive.  I have found that this helps me a lot.


 


Now let us all take a good long look in the mirror, have a little faith in ourselves as a country and stop beating up on each other.  Have a good day everyone and God Bless America.


 


What I am doing to help the economy

1.  I pray for this country and the president every day.


2.  I'm not constantly complaining about everything.


3.  I am not watching the DOW like it's American Idol.


4.  I’ve taken fiscal responsibility for me and my home.


5.  I give what I can to the food banks and my church etc. to help those who need help.


 


I did not vote for President Obama.  I do not think he is the messiah and I certainly will not blame him for the mess we are in right now simply because we all played a part.  No one forced anyone to take house loans that they could not pay, no one forces us to use our credit card and run up debts and live beyond our means, no one predicted that you would take a loan and then lose your job and be in foreclosure and no one regulated the banks like they should of.


 


Now that being said, in a crisis it is so easy to look for someone to blame, become angry, and forget who we are.  So my advice the next time you are at your kitchen table wondering how you are going to make ends meet, that you remember who you are, an American.  I would also advise getting some debt management help.


 


So please, instead of running around with your hands up in the air thinking the worst and claiming the sky is falling, try listening to the Star Spangled Banner or something that is positive.  I have found that this helps me a lot.


 


Now let us all take a good long look in the mirror, have a little faith in ourselves as a country and stop beating up on each other.  Have a good day everyone and God Bless America.