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More Gop BS. This is the line that folks use whom have never been in a union or knew someone who worked with someone in a union who was lazy. The Lies and same exact "i was a union guy but......the unions f'd us" BS.....
....These days, corporations seem to exist for the investment bankers.... In fact, investment banks are replacing the publicly held industrial corporations as the largest and most powerful economic institutions in America.... THERE ARE SIGNS THAT A VICIOUS spiral has begun, as each corporate player seeks to improve its standard of living at the expense of another's. Corporate raiders transfer to themselves, and other shareholders, part of the income of employees by forcing the latter to agree to lower wages. January 29, 1989 New York Times: LEVER AGED BUYOUTS: AMERICAN PAYS THE PRICE
‘Whitewashed Windows and Vacant Stores’ 1/25/2010
.....You might be familiar with the mall-based, teen-focused, accessories chain, Claire’s Stores. It was taken over in 2007 by Apollo Management LP for $3.1 billion. At the time, the chain had over $245 million in cash on hand. Today, the cash is gone. Struggling under the weight of $2.3 billion in debt, sales continue to decline.
....Both economic and regulatory factors combined to spur the explosion in large takeovers and, in turn, large LBOs. The three regulatory factors were the Reagan administration's relatively laissez-faire policies on antitrust and securities laws, which allowed mergers the government would have challenged in earlier years; the 1982 Supreme Court decision striking down state antitakeover laws (which were resurrected with great effectiveness in the late eighties); and deregulation of many industries, which prompted restructurings and mergers. The main economic factor was the development of the original-issue high-yield debt instrument. The so-called "junk bond" innovation, pioneered by Michael Milken of Drexel Burnham, provided many hostile bidders and LBO firms with the enormous amounts of capital needed to finance multi-billion-dollar deals.... www.econlib.org...
...In the 1980s during the great takeover boom and hollowing out of the industrial heartland, many states adopted amendments to their corporate codes that codified directors' fiduciary duties, so-called "constituency statutes". In general, these provisions made it clear that a director need not "maximize shareholder value." Rather, in complying with their fiduciary obligations, directors may take all sorts of things into consideration - the impact of their decisions on various constituencies, including employees, the community, the environment, the color of the sky, whatever...
The 1980s LBO boom was a scourge for management. They used whatever tools at their disposal to prevent an acquisition... The Delaware courts stepped in... In short, the message from the courts was that boards did not have a free hand to put off all takeover attempts... [remember many firms are incorporated in delaware because of business friendly laws] lawprofessors.typepad.com...
Leveraged buyouts involve an investor, financial sponsors or private equity firms making large acquisitions without committing all the capital required for the acquisition. To do this, a financial sponsor will raise acquisition debt which is ultimately secured upon the acquisition target... en.wikipedia.org...
...In January 1982, former US Secretary of the Treasury William Simon and a group of investors acquired Gibson Greetings, a producer of greeting cards, for $80 million, of which only $1 million was rumored to have been contributed by the investors. By mid-1983, just sixteen months after the original deal, Gibson completed a $290 million IPO and Simon made approximately $66 million. The success of the Gibson Greetings investment attracted the attention of the wider media to the nascent boom in leveraged buyouts. Between 1979 and 1989, it was estimated that there were over 2,000 leveraged buyouts valued in excess of $250 billion... en.wikipedia.org...
This article sound to me like it's just more of the same from that "side." Where's their outrage over CEO salaries? Even Congressional salaries? This dude just doesn't "like" Obama.
More like a case of the majority trying to take away the rights of a minority. But the "minority" might not be such in this case.
Originally posted by LDragonFire
reply to post by Vitchilo
Did the majority that voted know the governor was going to pay out the surplus the state had to corporation's creating this financial mess?
Then use this financial situation to justify breaking the Unions that didn't support him in his election campaign?
Originally posted by ~Lucidity
reply to post by centurion1211
Yes, I remember reading that. That same thought keeps running through my mind too. So far, it's peaceful. :Let's hope it stays that way.
In recent years, public support for labor unions has begun to wane. Will this trend continue as state and local governments face budget challenges? Protests in Wisconsin may be an indicator.
The tea party movement casts it as a battle to take state politics back from labor-union bosses and liberal interest groups. Union supporters say Republican lawmakers are putting the basic rights of working class Americans at risk.
Which view do more Americans agree with?
As union contract issues reverberate as state-budget sticking points in Wisconsin and other states, the American public doesn't fall neatly into either camp. The public's view on the subject is evolving, and how it shifts in coming months could help determine the near-term course of state politics and finances.
In one survey taken early this month, the Pew Research Center asked a cross-section of Americans whether their view of labor unions is favorable or unfavorable.
Although the share of respondents taking some form of favorable view (45 percent) was slightly larger than the camp with unfavorable views (42 percent), support for unions has clearly ebbed over the past decade. When Pew asked the same poll question in 1999, the margin was 59 percent "favorable" to 36 percent "unfavorable."
Tens of thousands have demonstrated throughout the week against Republican Governor Scott Walker's proposals, which supporters say are necessary to bring state spending under control and opponents contend are aimed at breaking the back of state worker unions.
Both sides drew thousands on Saturday, but opponents appeared to have several times as many on hand as those attending a rally backed by Tea Party groups, the first such demonstration this week.
The bill's opponents marched counter-clockwise around the State Capitol, encircling its supporters, and chanted "kill the bill" among other slogans.
The supporters countered with "Recall them all," referring to Democratic state senators who fled to Illinois last week to avoid giving Republicans the quorum needed to consider the proposal.
"Don't let anyone tell you that the government workers in Wisconsin are losing their collective bargaining rights over wages," Bachmann said in a speech to a South Carolina Republican women's group. "They are not. They are retaining them. It's their collective bargaining right over their benefits."
Bachmann said the 2012 elections are an opportunity to "end this nonsense, to end the travesty that could be our future and to once and for all be done with socialized medicine. This is a big, big project. I am in for this project, and that's why I'm going to the early primary states."
I think this crap is all a distraction. It is a relief valve carefully executed by master control agents. They use their twin systems of Control and Chaos just like on Get Smart but for real. They are both 2 heads on a rigged coin. We should all be looking elsewhere from this situation to figure out what they are sneaking through or some dirty dealings while this carefully orchestrated distraction rages on. This is all a slight of hand trick in public perception modification. We are being had people. Played like a violin.
Administration Will Cut Border Patrol Deployed on U.S-Mexico Border - September 24, 2009
Even though the Border Patrol now reports that almost 1,300 miles of the U.S.-Mexico border is not under effective control, and the Department of Justice says that vast stretches of the border are “easily breached,” and the Government Accountability Office has revealed that three persons “linked to terrorism” and 530 aliens from “special interest countries” were intercepted at Border Patrol checkpoints last year, the administration is nonetheless now planning to decrease the number of Border Patrol agents deployed on the U.S.-Mexico border....
....the Obama administration on May 7 said the Border Patrol “plans to move several hundred Agents from the Southwest Border...
“The intention is to take back the border incrementally, and make gains that we can keep,” Easterling said. “We do not intend, nor will we give back, miles that we have gained control over.”
Easterling said the Border Patrol would be able to maintain the current number of miles under effective control on the Mexico border with fewer agents deployed there thanks to “force multipliers,” including new fencing, roads and other infrastructure that has been built in recent years. He also cited the assistance the Border Patrol receives from local police and sheriffs departments and community watch groups.
Do you real TP'ers know that you've been hijacked by the Koch Bros? Well you have. You no longer represent the grass roots of our nation. Now you represent guys who live in designer houses and keep large bags of money in the trunks of their cars.