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The High Cost of Keeping Auto Makers Local

Posted: January 12th, 2012 | Author: | Filed under: Business News | Tags: , , , , , , , , , , , , , | Comments Off on The High Cost of Keeping Auto Makers Local

Ford Celebrates Launch of 2012 Ford FocusAustralia: Sales of the Australian made large cars – Holden Commodore and Ford Falcon – have dropped alarmingly in recent years. The Commodore’s 15-year run as Australia’s best-selling vehicle was ended abruptly in 2011 by the Japanese manufactured Mazda3, while Ford Falcon sales plummeted to fewer than 19,000 units in 2011. So Exactly How Much Does it Cost to Keep Auto Makers in Australia? Between $100 and $200 Million!? Holden says it is getting closer to announcing co-investment from the Federal Government and parent company General Motors as it looks to secure the local manufacturing of the Cruze and Commodore beyond 2018. Ford has announced a fresh $103 million investment for it’s Falcon range of large car and Territory SUV, though the future of the Australian-built vehicles is still guaranteed only until the end of 2016. Australia’s Minister for Manufacturing, Kim Carr, and South Australian Premier Jay Weatherill have been in talks with GM at this week’s 2012 Detroit motor show as part of a political delegation seeking future support for the Australian car industry.State and federal governments could be forced to pay up to $200 million to keep Holden factories in Australia, a workforce analyst said. Both the federal and South Australian governments have indicated they will pay Holden’s parent company General Motors a “substantial sum” to prevent manufacturing from being moved offshore. Holden wasn’t able to announce its own confirmed co-investment strategy but the car maker’s managing director, Mike Devereux, said parties are working towards an agreement. Read the full article »»»»

LiLo Breaches Probation

Posted: October 20th, 2011 | Author: | Filed under: Bailout, Bipolar Blond Momentum, Blip, Blipvert, Celebrity Gossip, Celebrity News, Cult of Celebrity, Diana Detaux, Diana Detox, Favorite New Thought . . ., Get Out of the House, Love and Other Drugs, News, News Update, Socially Engineered, Standout, That Human Condition | Tags: , , , , , , , , , , , , , , , , , , , , , | Comments Off on LiLo Breaches Probation

With Lindsay Lohan the news just seems to go round and round and round. Lindsay Lohan appeared in court today –  looking her usual mess -and had her probation revoked,  it’s now likely she will go back to jail.

A Los Angeles Superior Court Judge Stephanie Sautner, today and revoked Lindsay Lohan’s probation, saying the actress has blown off her court-ordered community service and even questioning the starlet’s commitments to her acting career.

CONTINUED: Read the full article »»»»

Occupy Wall Street Roundup

Posted: October 15th, 2011 | Author: | Filed under: Bailout, Blip, Favorite New Thought . . ., Revolute, Social Media, Socially Engineered | Tags: , , , , , , , , , , , , , | Comments Off on Occupy Wall Street Roundup

A quick roundup via words and pictures of the wonderfilled world of passive revolution . . .

15 October 2011: Hundreds of protesters are celebrating after New York City postponed the evacuation of the park at the epicentre of weeks of anti-Wall Street demonstrations.

The owners of the private square suspended their request for the city to evacuate it for routine cleaning on Friday (local time) and said they believed they could reach an agreement with the protesters. No reason was given for the delay, but it averted what many feared could have sparked a showdown between authorities and protesters. Protesters celebrated the postponement at the publicly accessible park, where the mood was festive :: Read the full article »»»»

Beware Greeks Baring Reciepts

Posted: October 8th, 2011 | Author: | Filed under: Bailout, Blip, M.Aaron.Silverman, Socially Engineered | Tags: , , , , , , , , | Comments Off on Beware Greeks Baring Reciepts

The only thing certain in life is death and taxes!

Unless you live in Greece, where, as our favorite New Yorker –  James Surowiecki  – puts it, “Tax Evasion is the National Pastime.” To fix the problem, the government is going to start tracking its citizens’ spending in real-time.

Surowiecki has attributed many of Greece’s financial woes to its huge untaxed shadow economy, which is estimated to be more than 25% of  GDP. Some studies suggest that Greece is missing out on more than $30 billion in taxes, so the cash-strapped country is trying something new: forcing consumers to track their spending with a government-issued tax card.

The cards look like credit cards, but contain no personally identifiable information beyond the person’s tax id number. They will swipe during a purchase; the amount of the sale will be sent to their bank; and then the banks will report the spending to the Ministry of Finance at the end of each month. The cards have been made available at Greek banks this week and are voluntary – for now.

According to a remarkable presentation that a member of Greece’s central bank gave last fall, the gap between what Greek taxpayers owed last year and what they paid was about a third of total tax revenue, roughly the size of the country’s budget deficit. The “shadow economy”—business that’s legal but off the books—is larger in Greece than in almost any other European country, accounting for an estimated 27.5 per cent of its G.D.P. (In the United States, by contrast, that number is closer to nine per cent.) And the culture of evasion has negative consequences beyond the current crisis. It means that the revenue burden falls too heavily on honest taxpayers. It makes the system unduly regressive, since the rich cheat more. And it’s wasteful: it forces the government to spend extra money on collection (relative to G.D.P., Greece spends four times as much collecting income taxes as the U.S. does), even as evaders are devoting plenty of time and energy to hiding their income.

Surowieki wrote that “the reason tax reform will be such a tall order for Greece, in sum, is that it requires more than a policy shift; it requires a cultural shift.” Perhaps knowing that Big Brother is watching every loosening of the purse strings will help accomplish that.

Read Surowiekis Full article: www.newyorker.com
source: the new yorker

Volcker Rule

Posted: February 16th, 2010 | Author: | Filed under: Bailout, Blip, M.Aaron.Silverman, Socially Engineered | Tags: , , , , , , | Comments Off on Volcker Rule

Volcker Rule

The White House has some quick explaining to do if it wants to convince lawmakers that a proposed limit on risk-taking by big banks needs to be included in financial reforms that are already more than a year in the making.

The 11th-hour rule, proposed late last month by President Barack Obama and inspired by White House economics adviser Paul Volcker, could be left behind as the U.S. Congress moves toward a bipartisan deal on tighter financial regulation, said some analysts and congressional aides on Wednesday.
After a less-than-illuminating Senate Banking Committee hearing on Tuesday, many predict the Volcker Rule is doomed. Although some analysts have reported that the Volcker rule could be watered down and included in a final legislative package expected to emerge from the banking committee as early as mid-February.
“If you want to get the broader bill done, you need to water down the Volcker language and that’s how we expect it to end up,” said Jaret Seiberg, an analyst with Concept Capital. President Obama stunned financial markets in January with the proposal to restrict proprietary trading by banks, get them out of the hedge fund business, and limit their future growth :: Read the full article »»»»

Bernanke In for Round Two?

Posted: January 28th, 2010 | Author: | Filed under: Business News | Tags: , , , | Comments Off on Bernanke In for Round Two?

Ben Bernanke BuckThe US Senate is expected to hold a final confirming vote on Ben Bernanke’s nomination for a second term as chairman of the Federal Reserve. A vote on confirmation would likely come shortly after senators vote to clear a procedural roadblock to the nomination.

“We anticipate the confirmation vote tomorrow,” a Democratic aide said. “We think the (confirmation) vote will be tomorrow,” a Republican aide said separately.

Mr Bernanke is widely expected to win confirmation, but only by a relatively narrow margin.

The surprise election last week of a Republican to a Massachusetts US Senate seat long held by Democrats underscored voter anger about the economy’s woes and undercut support for Mr Bernanke, a chief architect of bailouts for Wall Street banks. Read the full article »»»»