Bain Capital closing Illinois Plant

[regent]

I wonder if there is an economic term for the process of a corporation taking over a smaller company, milking it of any profits and then dumping the company and its jobs?

 

[rdean]

Romney's economic experience is making money off of other people's misery. He wants to bring that experience and share it with the rest of the country. With the 1.3 billion he got from the Republican Senate, he "saved" the Olympics. He will bring that same record of success to the nation's highest office.

Republicans cheered when Santorum said they weren't smart. They want to prove that by electing Mitt President.

 

[thereisnospoon]

Bullshit....Iacocca lobbied for those loans which were paid back with interest ahead of time

Loans the government didn't have to give him.

Because no bank was about to.

Same with GM. The government gave them loans because the banks wouldn't at the time.

Yeah, and...?

 

[thereisnospoon]

Loans the government didn't have to give him.

Because no bank was about to.

Same with GM. The government gave them loans because the banks wouldn't at the time.

So when are they supposed to be paid back again? GM is not doing well no mater what they say. They are still in financial trouble

I'm sure they aren't. Kind of hard when you've eliminated the middle class who buys cars...

Way to play both ends of the issue. FAIL.
When someone says "I'm sure" the only "sure" is they don't have the facts..Sheesh.
Yep...GM is doing great! The middle class can't afford to buy their cars....Holy fuck...
You despise the middle class. They are 93% non union.

 

[thereisnospoon]

Correct. Unlike GM..Paid back the loans ahead of schedule...
Once again. The OP trashed Iaccocca for leaving Chrysler with a golden parachute. The OP ignored the accomplishments of Iaccocca.
Look, I have no idea why people are so fearful or indignant when it comes to business.
If not for business and industry, we'd be Liechtenstein.
Business puts people to work. Everybody's happy. Where's the problem?

Because if you don't have reasonable protections, what you get is Mexico...

Some people get to work, but the country is polluted and full of garbage and everyone lives in filth.

Kind of what this country was before we had a labor movement.

Fuck Iacocca and every other "master of the universe" who thinks their farts don't stink.

We have reasonable protections.
Federal and state labor laws that protect the rights of employees.
We do not want nor need a labor collective to do that for us.
Obviously you have a hard on for rich people. Does that include ALL rich people, including those wealthy union bosses?

 

[thereisnospoon]

Kind of hard when you've eliminated the middle class who buys cars...

You imply middle income citizens cannot exist without taking from richer Americans. That is not the case. We had no income tax at all for nearly 150 years and during that time, more poor became middle class and more middle class became rich than at any point in the history of the world. Progressive meddling hasn't helped, it's hurt...everyone of every income strata.

I'm saying the middle class cannot exist as long as the tidal gravity in our society is towards the rich accumulating more and more of the wealth.

Before 1913, we didn't have much of a "middle class". we had the very rich and the very poor and not a lot in between.

This is how most working people lived back then.

WRONG....Your post presupposes the existence of a zero sum game.
Intelligent people know this game does not exist.

 

[thereisnospoon]

Secondly, the disparity between rich and poor is GREATER today than in 1013, despite 100 years of progressive socialism.

Why? Why the disparity?

That is true but does not tell the entire story. There are more wealthy people per capita than there has been in the history of the nation.
Not only that, the middle class continues to grow to the point where people are exiting at the top more so than at the bottom.
The fact is the lower classes are growing in that if one uses federal stats which define "poor", over the last 4 years the number of people collecting some form of public assistance has doubled.
The fact is that while the private sector continues to grow the economy, albeit at a very slow rate, current federal policy has seen fit to add more people to the ranks of the entitled.
This is the goal of progressives. The more people dependent upon government, the more guaranteed votes for those providing the dependency.
The middle class grows as does the number wealthy people. Meanwhile the dependency class also continues to grow....Dependency grows because government is making it easier to become dependent.

 

[thereisnospoon]

I wonder if there is an economic term for the process of a corporation taking over a smaller company, milking it of any profits and then dumping the company and its jobs?

When does this happen?..
Look, if your premise is to eliminate the marketability of one company to another, you may as well hand control of all business over to the central government.
See USSR...how'd that work out for ya?

 

[Shelzin]

Secondly, the disparity between rich and poor is GREATER today than in 1013, despite 100 years of progressive socialism.

Why? Why the disparity?

That is true but does not tell the entire story. There are more wealthy people per capita than there has been in the history of the nation.

How can that be if the middle class is getting smaller?

Not only that, the middle class continues to grow to the point where people are exiting at the top more so than at the bottom.

Oh. You are misinformed. And honestly... I .. Can't figure out how you would say that with a straight face.

Unless you can come up with something of substance to back up that claim I see no reason to continue reading that post as we will have no common ground of truth.

 

[eflatminor]

Secondly, the disparity between rich and poor is GREATER today than in 1013, despite 100 years of progressive socialism.

Why? Why the disparity?

It's a byproduct of free market capitalism and it's a good thing. Those same markets that make some very wealthy also allows our poor to be comparatively rich (84th percentile)...and our so called middle class? Downright loaded.

The point is there is zero reason to complain about some Americans getting very wealthy. If they hurt someone in the process, we have laws for that, but just because they're rich, it doesn't mean someone else must be poor. Wealth is not a finite pile.

 

[eflatminor]

How can that be if the middle class is getting smaller?

We're in a recession. Incomes are down and that's what defines the wealth of the so called middle class, more so than investments for instance. Once we get the economy growing, incomes will rise.

 

[eflatminor]

I'm saying the middle class cannot exist as long as the tidal gravity in our society is towards the rich accumulating more and more of the wealth.

Before 1913, we didn't have much of a "middle class". we had the very rich and the very poor and not a lot in between.

Well, thanks for making my point. First, you talk of wealth as though it's a fixed pie from which we all must draw. That's bullshit. Wealth can be created or destroyed. Secondly, the disparity between rich and poor is GREATER today than in 1013, despite 100 years of progressive socialism.

Assuming you meant 1913 and not 1013, not really. The poor were really damned dirt poor back then.

Absolutely not true. Then, as today, our "poor" were considered rich by the rest of the world.

Of course, we all had very few amenities back then, which only makes me appreciate the free capitalists that produced inventions, created the wealth and forged the markets that allows us all to look back a mere 100 years and think how far we've come, how well we all live. In those same 100 years, the centrally planned societies failed, one after another. Time to embrace freedom again.

 

[Shelzin]

Secondly, the disparity between rich and poor is GREATER today than in 1013, despite 100 years of progressive socialism.

Why? Why the disparity?

It's a byproduct of free market capitalism and it's a good thing. Those same markets that make some very wealthy also allows our poor to be comparatively rich (84th percentile)...and our so called middle class? Downright loaded.

I agree with that.

The point is there is zero reason to complain about some Americans getting very wealthy. If they hurt someone in the process, we have laws for that, but just because they're rich, it doesn't mean someone else must be poor. Wealth is not a finite pile.

I don't have a problem with that either.

How can that be if the middle class is getting smaller?

We're in a recession. Incomes are down and that's what defines the wealth of the so called middle class, more so than investments for instance.

Eh... Middle class has been declining since way before the recession. From what I've read and my own understanding that the middle class has been in decline for decades. Over 30 years. I don't think recession is a valid point here.

Once we get the economy growing, incomes will rise.

Well... I think we first have to agree if what I said in the above is true. How long do you think the middle class has been in decline?

Or do you subscribe to middle class is whatever is in the 50% range between the top and bottom 25% and thus really has no meaning?

 

[JoeB131]

[
I don't need your idiot history, unions are now a drag on the country especially public sector unions which shouldn't even exist maybe you should learn a little more instead of spewing your brainwashed liberal talking points

Public servie unions need to exist for the same reason private sector ones do.

Because despite the best efforts, idiots still end up being bosses. Private or Public sector.

Ideal world, we wouldn't need unions. only the best people would advance to leadership, and they would always make fair decisions and treat their people decently.

Having served in the military and worked in private enterprise, I can tell you that this is the exception more than the rule.

 

[JoeB131]

Well, thanks for making my point. First, you talk of wealth as though it's a fixed pie from which we all must draw. That's bullshit. Wealth can be created or destroyed. Secondly, the disparity between rich and poor is GREATER today than in 1013, despite 100 years of progressive socialism.

Assuming you meant 1913 and not 1013, not really. The poor were really damned dirt poor back then.

Absolutely not true. Then, as today, our "poor" were considered rich by the rest of the world.

Of course, we all had very few amenities back then, which only makes me appreciate the free capitalists that produced inventions, created the wealth and forged the markets that allows us all to look back a mere 100 years and think how far we've come, how well we all live. In those same 100 years, the centrally planned societies failed, one after another. Time to embrace freedom again.

Except I don't want to use the rest of the world as yardstick.

the yardstick I use is, are we better off than we were in the 1970's when I was growing up?

Yeah, we got a few more electonic toys now, but we aren't better off economically.

Incidently, "Free Market Captialists" don't make inventions. Engineers and inventors do, and usually, anything they come up with doesn't belong to them, it ends up being "intellectual property" of their corporation.

Again, you keep mistaking parasites for vital organs.

 

[Toro]

By every yardstick, we are better off than we were in the 1970s. That's a statistical fact, jack. We make more money, we live longer, we work less, we work in less hazardous jobs, we have more choice in consumer goods, and so on.

That is true for every single cohort except one - white, uneducated males. A white male without a high school education makes less today than in 1970, adjusted for inflation. But other than that, everyone else is better off.

 

[thereisnospoon]

Why? Why the disparity?

That is true but does not tell the entire story. There are more wealthy people per capita than there has been in the history of the nation.

How can that be if the middle class is getting smaller?

Not only that, the middle class continues to grow to the point where people are exiting at the top more so than at the bottom.

Oh. You are misinformed. And honestly... I .. Can't figure out how you would say that with a straight face.

Unless you can come up with something of substance to back up that claim I see no reason to continue reading that post as we will have no common ground of truth.

SO the Obama admin and the MSM have you convinced the middle class is shrinking? Great.
Ok fine. For a moment let us stipulate you are correct.
So......In 2008 one of the main planks in the Obama/Biden platform was helping the middle class. Fast forward to today. Obama and Biden are still harping on this issue as though neither of them have been in office for the last 3 plus years.
The problem here is you people have no clue what is going on. All you know is whatever news or event you can use to your political advantage automatically becomes the truth.
Well, not sorry to inform you, but nobody except Obama sycophants are buying this bullshit.
Any improvement is IN SPITE of , not because of Obama's policies.
Despite hard economic times, college admissions are on the rise - Washington Times
Here is a column by Bob Herbert...Not exactly your everyday right wing type of guy..
This essentially trashes Obama's domestic policy and his hope and change over the last 45 months.
You people cannot have it both ways.
When it's convenient, you claim Obama has created 4 million jobs and everything is just peachy.
Then we have Biden claiming the middle class has been "buried" over the last 4 years.
That is an indictment of Obama's entire presidency.
The fact is while we have more people than ever on a percentage basis collecting food stamps and other public assistance, the number of middle income earners continues to grow albeit at a much slower pace.
More people are entering college and more are getting degrees. These people are essentially joining the middle class the moment they sit in the class room for the first time.

I look around where I reside and I see little in the way of the disaster Joe Biden claims. However, I see people struggling but hanging on.
I look at career websites and see all of the jobs available for highly skilled people that go unfilled because there are not enough people to fill them.
Don't try telling me everything is great then try telling me it's an unmitigated disaster at the same time.

 

[thereisnospoon]

Assuming you meant 1913 and not 1013, not really. The poor were really damned dirt poor back then.

Absolutely not true. Then, as today, our "poor" were considered rich by the rest of the world.

Of course, we all had very few amenities back then, which only makes me appreciate the free capitalists that produced inventions, created the wealth and forged the markets that allows us all to look back a mere 100 years and think how far we've come, how well we all live. In those same 100 years, the centrally planned societies failed, one after another. Time to embrace freedom again.

Except I don't want to use the rest of the world as yardstick.

the yardstick I use is, are we better off than we were in the 1970's when I was growing up?

Yeah, we got a few more electonic toys now, but we aren't better off economically.

Incidently, "Free Market Captialists" don't make inventions. Engineers and inventors do, and usually, anything they come up with doesn't belong to them, it ends up being "intellectual property" of their corporation.

Again, you keep mistaking parasites for vital organs.

NO..The free market capitalists just foot the bill so that the engineers and others can do the inventing. Of course it is the property of the "capitalist"...THEY PAID FOR IT!!!! This is the way it works.
Without venture capital or some other source of funding, nothing gets done.
No money. No business. No jobs.

 

[Shelzin]

That is true but does not tell the entire story. There are more wealthy people per capita than there has been in the history of the nation.

How can that be if the middle class is getting smaller?

Not only that, the middle class continues to grow to the point where people are exiting at the top more so than at the bottom.

Oh. You are misinformed. And honestly... I .. Can't figure out how you would say that with a straight face.

Unless you can come up with something of substance to back up that claim I see no reason to continue reading that post as we will have no common ground of truth.

SO the Obama admin and the MSM have you convinced the middle class is shrinking? Great.

Eh... It's been shrinking for decades. I've known since before Obama was president or even before he was governor. Simple google buddy.

 

[thereisnospoon]

How can that be if the middle class is getting smaller?


Oh. You are misinformed. And honestly... I .. Can't figure out how you would say that with a straight face.

Unless you can come up with something of substance to back up that claim I see no reason to continue reading that post as we will have no common ground of truth.

SO the Obama admin and the MSM have you convinced the middle class is shrinking? Great.

Eh... It's been shrinking for decades. I've known since before Obama was president or even before he was governor. Simple google buddy.

Really?...How so?