OT: Ohio Job Losses

==================== Since I now know that corporate America and the stock markets are a rigged game for suckers, the only equity exposure I currently have is through my TIAA-CREF mutual fund.

By having many full-time employees constantly monitoring corporate activity and accounting, and in cooperation with the other mutal/pension fund managers (and state attorneys general) the TIAA-CREF funds are able to enforce at least some small degree of managerial accountability, squeezing out at least a portion of the corporate profits for the rightful owners, i.e. the shareholders, rather than the "insiders." see

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For the latest scheme to reward the corporate insiders and promote tax avoidance, if not tax evasion, see
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"The company has spent more than $46 billion on repurchases in the past five years. It's also paid out more than $7 billion in dividends."

Note that for the same time period IBM spend over 6 times as much manipulating their stock price as they paid in dividends, not only enriching the insiders but by using the capital gains loophole, costing the taxpayers [who had to make up the amount not paid] many billions, while exporting jobs and technology. They also screwed their employees on promised pension plans and "scammed" them on overtime pay in this same time frame.

One thing the above article does not examine is the tax status of the funds IBM used for their stock buy-back. Because of corporate influence, the US tax code do not collect income taxes on corporate profits until these are "repatriated" back into the US economy. As a result huge pools of these internationally generated profits tend to be accumulated in tax havens such as Aruba (and used to buy US governmental securities). My question is "were these tax exempt international "profits" used for the buy-back, and if so, as this transfers money back into the US economy, was [or will] any corporate income tax be assessed."

These tin-cup corporations never seem to be able to afford to pay their fair share of taxes, but always seems to have enough money to lend (if indirectly) to the government.

Unka' George [George McDuffee]

------------------------------------------- He that will not apply new remedies, must expect new evils: for Time is the greatest innovator: and if Time, of course, alter things to the worse, and wisdom and counsel shall not alter them to the better, what shall be the end?

Francis Bacon (1561-1626), English philosopher, essayist, statesman. Essays, "Of Innovations" (1597-1625).

Reply to
F. George McDuffee
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So vote your local politicans OUT.

A deficet comes from overspending by your politicians.

Fix it.

Gunner

Reply to
Gunner

On Wed, 27 Feb 2008 12:18:43 -0800, with neither quill nor qualm, Gunner quickly quoth:

Give us candidates and we'll do that. The problem is that 99% of those bastids are the same corrupt crap which is already in office.

- If the gods had meant us to vote, they'd have given us candidates. --------------

Reply to
Larry Jaques

So when will you file for office?

Gunner

Reply to
Gunner

On Feb 25, 1:43=A0pm, "Hawke"

Boo Hoo. Why should the federal government pay for state government programs?

Dan

Reply to
dcaster

Boo Hoo. Why should the federal government pay for state government programs?

Dan

They shouldn't, and our forefathers and the writers told us this long long ago. But, over the years .................

The rest is history.

Steve

Reply to
SteveB

....

No, businesses are voting with their feet because of $0.80/hour wages, tax benefits, lack of environmental and other social costs, and an enormous potential market.

-- Ed Huntress

Reply to
Ed Huntress

Customers prefer to pay less rather than more. You are likely to be one of them.

Reply to
Werner

Of course they do. That's why the customers have encouraged the offshoring of a sizable chunk of manufacturing. That's why a sizable number of customers are not very good customers right now.

When your competition is paying $0.80/hour, you're going to have a hell of a time competing with them.

-- Ed Huntress

Reply to
Ed Huntress

On the other hand Exxon Mobile stock was at about $76 on Jan 1 of 2007 and was at about $94 at the end of the year. So the stockholder got $1.37 in taxable dividends and $18 in capital gains.

So maybe not paying out all the profits can work out pretty good.

Dan

Reply to
dcaster

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