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What gives? Another sign of the Economic Apocalypse...
This is not so much a 'firefighting' discussion, unless you want to equate it to how it affects us as taxpayers. I more or less had to put this out there to get it off my chest and see if anyone else is as outraged as me or if I'm making something out of nothing.
So here it is:
Just weeks after the 'Big 3' automakers slapped the general taxpaying population (and Congress) in the face by traveling to Washington in private jets and driving expensive cars while they attempted to beg Congress for bailout money, it seems no lessons were learned.
While I applaud Congress for verbally abusing these Exec's for their severe and seemingly idiotic lack of judgment, I would have thought their actions would have sent more of a 'trickle-down' message to the rest of the nation.
Apparently not.
So I get my latest copy of Sports Illustrated (Dec. 22, 2008) in the mail today, and begin to peruse the contents will diligence as I often do. This is one magazine I really look forward to receiving in the mail. Imagine my surprise when I read the following:
"The Yankees asked the city of New York for $370 MILLION in bonds for their new stadium the same week they signed CC Sabathia to a $161 MILLION contract."
W-T-F???
I'll admit - I'm a baseball fan. While I root for the Reds (ugh), I am indifferent to the Yankees, so I want to make it clear that this is not an "anti-Yankee baseball fan" comment. This is a "The taxpayers are getting slapped in the face again" comment.
When are these spend-thrift corporations going to learn? I hope the city of New York checks with Congress to get tips on the appropriate way to laugh in the face of the Yankees before they deny their request. When are we (the general taxpaying population) going to stop getting penalized for the deep-pocket spending that has no oversight?
Ok - I'm going to stow my soapbox back in its corner....for now.
So here it is:
Just weeks after the 'Big 3' automakers slapped the general taxpaying population (and Congress) in the face by traveling to Washington in private jets and driving expensive cars while they attempted to beg Congress for bailout money, it seems no lessons were learned.
While I applaud Congress for verbally abusing these Exec's for their severe and seemingly idiotic lack of judgment, I would have thought their actions would have sent more of a 'trickle-down' message to the rest of the nation.
Apparently not.
So I get my latest copy of Sports Illustrated (Dec. 22, 2008) in the mail today, and begin to peruse the contents will diligence as I often do. This is one magazine I really look forward to receiving in the mail. Imagine my surprise when I read the following:
"The Yankees asked the city of New York for $370 MILLION in bonds for their new stadium the same week they signed CC Sabathia to a $161 MILLION contract."
W-T-F???
I'll admit - I'm a baseball fan. While I root for the Reds (ugh), I am indifferent to the Yankees, so I want to make it clear that this is not an "anti-Yankee baseball fan" comment. This is a "The taxpayers are getting slapped in the face again" comment.
When are these spend-thrift corporations going to learn? I hope the city of New York checks with Congress to get tips on the appropriate way to laugh in the face of the Yankees before they deny their request. When are we (the general taxpaying population) going to stop getting penalized for the deep-pocket spending that has no oversight?
Ok - I'm going to stow my soapbox back in its corner....for now.
Replies to This Discussion
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Permalink Reply by Art "ChiefReason" Goodrich on
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Asking for bonds is way different than asking for a bailout.
The Yankees are asking that $370 million in bonds be sold to help pay for the stadium. Anyone who buys the bonds gets their money back, plus interest. The longer it takes to get paid back, the more they will make. Or the bonds can be re-sold.
That plan is alot different than going to Washington and asking the taxpayers to GIVE them-the Big THREE-$25 billion with no strings attached.
And I am neither a Yankee or a Red Sox fan.
Come to think of it, I am not a fan of the Big Three either.
TCSS.
Art
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Permalink Reply by FETC on
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Art, you are cracking me up again brother!
The government is going about the bail-out ass backwards. The trickle down effect is doing nothing for the working family. The original bailout was supposed to offer people with "bad mortgages" (ARM) a chance to refinance and avoid foreclosures. NOT
Bailout Round #1 worked well huh? Less than 1% was allowed or afforded that opportunity. Financial institutions emerged with more money to ride out their storm. Those homes will eventually be auctioned and the institution wins again??? The hardworker is marred with bad credit scores for years...
Same with the AIG, and such... the CEO's are still getting the same quality of life. We saw that when they have an executive training session... high end hotels, planes, limos, probably includes rub/tug with a happy ending too.
Whats all that bailout money doing for us hard working FFN jakes... NOTHING.
Now as for the Big 3... they need to look at the reason why they are in the jam they currently in? Big labor contracts, building vehicles that the market isn't demanding... hmmm but the same big shots are crying the need for $$$ to continue riding in their big escalades.
Now here is my friggin bailout plan. seeing the Feds are just printing cash and do not have a care in the world as to how this is going to affect our kids, grand kids... I would bailout the hard working, honest citizen. How? if you are a real working, law abiding, tax paying US taxpayer... I would request you to send in a copy of your mortgage statement with your IRS return.
I would then authorize the treasury to pay off your mortgage for all taxpayers who are filing their tax return on time and honest. OK cap it at $250K gross family income, this is aligned with the FDIC and the new level the president elect feels is mid level income. This would solve the "bad mortgages" and free up ALL of us from our monthly mortgage payments, then use the new found household capital to buy down on your high interest CC debt.
Reverse or ground up economic stimulis...
I wouldn't bailout the CC debt because those bastards are bleeding us silly with charges, fees and interest rates and they should wait for the money to be repaid.
So who is with me???
Now that would also stimulate the economy from the ground up and people would be able to do things with a positive cash flow.
As it is being delivered now, we will see very little help from most of the fed assistance. Even this 0% fed rate on loans is only going to be good for those who STILL have decent credit rating... so if your extended or over extended EVEN still paying on time, they are likely to pass over the hard working brother from a refi or new loan.
OK I know I am just a dumb firefighter... so I guess I will go back to banging my head against the wall and waiting for the bell to ring. LOL
Just my two cents...
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Not to start an "American made vs. foreign made" argument, but I read/heard that the fully loaded, labor rate for a UAW worker in the auto industry is $79 per hour. The rate includes what they are paid per hour, insurance, medical, dental, vision care, retirement, days off and the "legacy" language, which pays a laid off worker 95% of their average rate NOT to work. At the time of the request for bailout, there were 3500 UAW members who had drawn this pay for quote "decades"? I cannot confirm this. But I have heard it in discussions on this.
Now; in states where they have "right to work" like Ohio, they build, I believe, the Toyota Camry. In Tennessee, I want to say they build Hondas. The labor rate fully loaded in those states is something like $40 dollars an hour. They make a decent hourly rate, but they don't get 95% if they get laid off; they get unemployment. Plus, they pay a portion of their medical benefit. And they pay into a 401K.
Even I can do the math.
Plus, I'd be curious to know what warranty work is costing the auto companies.
I was always told to never buy a car during contract year. I guess people do funny things when it looks like they may be going on strike.
I have this crazy notion that, if the union wants their members to have some of what they have, let them take the dividends off of THEIR investments-do you know how much property the international UAW owns; not to mention the golf course-and pay for some of them.
And do a search and find out how many International UAW positions are making 6 figures plus a year, in addition to the other benefits. I think you might find some golden parachutes there as well.
I am not anti-union.
I am anti-entitlement.
I believe that there should be a contract of sorts between an employee and their employer that says that they will be paid an honest day's pay for an honest day's work. Beyond that, there are no guarantees.
IMHO.
Art
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Permalink Reply by PA Firefighter on
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I agree, the Yankees spend 140 million on a pitcher and then want us to fund their stadium. The only way to stop them is to not go to the games or buy the teams merchandise.
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