Tag Archives: Corporation

News

Round-up similar to Neil Simpson’s or Binks WebElf’s

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I have too many news stories, so I have to do the Neil Simpson / Binks WebElf thing.

Students sent home for patriotism

Excerpt:

On any other day at Live Oak High School in Morgan Hill, Daniel Galli and his four friends would not even be noticed for wearing T-shirts with the American flag. But Cinco de Mayo is not any typical day especially on a campus with a large Mexican American student population.

Galli says he and his friends were sitting at a table during brunch break when the vice principal asked two of the boys to remove American flag bandannas that they wearing on their heads and for the others to turn their American flag T-shirts inside out. When they refused, the boys were ordered to go to the principal’s office.

[…]The boys really had no choice, and went home to avoid suspension.

H/T Jerry.

Obamacare will cause you to lose your current health insurance

Excerpt:

Internal documents recently reviewed by Fortune, originally requested by Congress, show what the bill’s critics predicted, and what its champions dreaded: many large companies are examining a course that was heretofore unthinkable, dumping the health care coverage they provide to their workers in exchange for paying penalty fees to the government.

That would dismantle the employer-based system that has reigned since World War II. It would also seem to contradict President Obama’s statements that Americans who like their current plans could keep them. And as we’ll see, it would hugely magnify the projected costs for the bill, which controls deficits only by assuming that America’s employers would remain the backbone of the nation’s health care system.

H/T ECM.

Democrat says that tea-party protesters are a terrorist threat

Excerpt:

Rep. Andre Carson gathered Capitol Hill reporters around him and told the tale of racial slurs and menacing crowds on the verge of hurling rocks at the congressmen.  Our first few videos showed the congressmen coming out of the Cannon Office Building, walking down the steps and into Independence Avenue from various angles.  None of those videos revealed the racial hatred Rep. Carson conveyed to reporters that day and none of the videos showed a mob rushing or in any way impeding the congressmen. When Rep. Carson gathered reporters around him to spread the myth of racial slurs being hurled “fifteen times” he painted the protesters not just as racists, but as a terrorist threat.

The link has the video of the Democrat explaining his view.

H/T ECM.

Newsweek up for sale

Excerpt:

The Washington Post Co. is putting Newsweek up for sale in hopes that another owner can figure out how to stem losses at the 77-year-old weekly magazine.

[…]The Post Co.‘s magazine division had an operating loss of $29.3 million in 2009, compared with a $16.1 million loss the year before. Newsweek sold about 26 percent fewer ad pages in 2009, according to the Publishers Information Bureau. That percentage decline was consistent with the industry average.

H/T ECM.

Commentary

Is Toyota the victim of persecution by the mainstream media?

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From National Review. (H/T ECM)

Excerpt:

For those who’ve been setting up the Japanese automaker as the latest symbol of heartless capitalism, it’s been a bewildering few days. On Wednesday the media jumped hard for the story of a man who frantically called 911 while his Prius ran away on a San Diego freeway (outstandingly gullible CBS News coverage here). Before long observers had begun poking holes in the story, and colorful details on the man’s earlier doings have been emerging all weekend. On Thursday, meanwhile, the New York Times — whose news columns had helped set the tone for the panic with accusatory coverage — ran what was actually a surprisingly good op-ed advancing the possibility that most of the Toyota cases will turn out to be the result of . . . driver error.

[…]With Audis, and in other acceleration scares affecting GM and other companies, we know that older drivers are not the only group disproportionately likely to be involved in a runaway. Others include drivers who are short in stature, who are unfamiliar with the vehicle (parking-lot attendants, new buyers), and who are taking off from a stopped position or backing up. Publicly available reports do not yet indicate whether the Toyota crashes fit all of these patterns… however… the L.A. Times compilation of fatal accidents seems to contain a striking number of drivers who were immigrants.

[…]The widely recalled low point of the Audi controversy came when CBS’s 60 Minutes ran a grossly unfair hatchet job on the automaker, complete with a bogus simulation rigged up by an expert witness working with lawyers suing Audi. This time around, it was the turn of ABC’s Brian Ross, who used, yes, an expert witness hired by litigators suing Toyota to rig up a supposed simulation of electronic failure. (Toyota promptly showed that you could get the same silly, artificial result by hooking up other automakers’ vehicles in the same way.) Matt Hardigree of Jalopnik called the results “ridiculous” and a “hoax,” while Gawker — noticing some stealthily falsified footage of tachometer results — headlined its coverage “How ABC News’ Brian Ross Staged His Toyota Death Ride” and “ABC News’ Toyota Test Fiasco.”

My view is that this is being blown out of all proportion like other media-induced scares. Fear sells newspapers.

News

How Democrat policies cause corporations to outsource jobs overseas

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David Farr is the CEO of Emerson Electric, a $1.7-billion-dollar company heavily involved in manufacturing. What does he think about the job that the Democrats are doing in Washington?

In this Bloomberg article, he explains:

Emerson Electric Co. Chief Executive Officer David Farr said the U.S. government is hurting manufacturers with regulation and taxes and his company will continue to focus on growth overseas.

“Washington is doing everything in their manpower, capability, to destroy U.S. manufacturing,” Farr said today in Chicago at a Baird Industrial Outlook conference. “Cap and trade, medical reform, labor rules.”

Emerson, the maker of electrical equipment and InSinkErator garbage disposals with $20.9 billion in sales for the year ended September, will keep expanding in emerging markets, which represented 32 percent of revenue in 2009. About 36 percent of manufacturing is now in “best-cost countries” up from 21 percent in 2003, according to slides accompanying his speech.

Companies will create jobs in India and China, “places where people want the products and where the governments welcome you to actually do something,” Farr said.

The unemployment rate in the U.S. jumped to 10.2 percent in October, the highest level since 1983. Emerson, which Farr said employs about 125,000 people worldwide, has eliminated more than 20,000 jobs since the end of 2008 to lower expenses.

“What do you think I am going to do?” Farr asked. “I’m not going to hire anybody in the United States. I’m moving. They are doing everything possible to destroy jobs.”

[…]Mature markets such as the U.S., Western Europe and Japan continue to decline in importance and the company will keep investing in emerging markets, Farr said during the presentation.

“We as a company today are putting our best people, our best technology and our best investment in these marketplaces to grow,” he said. “My job is to grow that top line, grow my earnings, grow my cash flow and grow my returns to the shareholders. My job is not to shrink and roll over for the U.S. government.”

[…]In renewable and alternative-energy markets, Emerson had 2009 sales of $50 million and plans to increase that to more than $800 million in five years.

“But you are not going to see Emerson going out there with fancy commercials or sitting at the right hand of some president, talking about this,” Farr said. “We do it.”

When it comes to manufacturing jobs, the only person whose opinion counts is the CEO of the manufacturing company, because he makes the hiring decisions.

Why Obamanomics will not improve the economy

I noticed the Bloomberg article because it was linked to this American Thinker article, which was linked at Marshall Art’s blog.

The American Thinker article analyzes why Obamanomics will not improve the economy.

Excerpt:

The reason that Obamanomics will not and cannot work is because an economy cannot be managed from the top. Economics is a bottom-up process that depends upon individual incentives. Critical incentives have been diminished or destroyed by recent economic policies. Fear, uncertainty, threats, tax increases, penalties, and violations of the rule of law are but some of the conditions anathema to entrepreneurs, small business, and large business. Businesses will not hire, invest, or expand in a climate of disincentives. No commands from on high can force economic activity. That was a lesson that should have been learned from Eastern Europe and the former USSR.

If these disincentives are left in place, our economy will continue to shrink and our standard of living will continue to diminish. Capital has no nationality, and it will start to flee our shores. Talent will follow. We will not recover from this economic downturn until businesses and individuals have a more favorable incentive structure.

You can’t argue with the 10.2% unemployment rate, and it’s only going to get worse. Everything that Obama has done has been bad for business, and has contributed to raising unemployment. Democrats, (and the people who voted Democrat), know less about economics than my keyboard.