And I missed my favourite target MBA's who know every thing about money & nothing about either the company they are destroying or the industry the company is in.
It is a case of suck the business dry, sell off what is left over then on to the next company to destroy.
But you might get lucky & the Japanese owners sent their 30 year old plant to the USA to modernize it and make it profitable again
I mean Bezos could have bought it, closed it down sold the steel to China as scrap then bought new Chinese steel to build a new amazon warehouse
That can quickly become counter productiveChina has a massive steel manufacturing capacity and is the world’s largest producer, US Steel is ranked 27th in terms of steel capacity world wide. Competing with the Chinese is difficult, they don't have the labor and environmental restrictions that the rest of the worlds producers face, and given the blurred lines between business and government they don't even have to make a profit. So China prices steel at whatever it takes to get the volume they wish to produce, or to drive targeted competitors out of the market. The risk is Nippon Steel will take US Steel’s intellectual property and spread it across their many facilities, focus their investments on Nippon’s facilities in India, then when the economy slows gradually close the US facilities due to “their high operating cost”. I would guess that US Steel is doing this because they are getting hammered on energy costs & environmental regulations and the ESG movement is drying up their access to capital. So it’s make the best deal they can, or gradually go out of business. The government should demand that US facilities receive a perpetual minimum percentage (say 25%) of Nippon Steel’s annual capital / R&D expenditures and maintain a domestic steel production capacity of TBD tons / year or face economic penalties so severe that they would go out of business.
It's not investors.Our financial investors are selling out America just to make quick short term profit.
No one in the USA thinks that. We all know that we have let manufacturing slip away and our manufacturing is all but non existent.Americans think they are so great when in reality they are lagging way behind the rest of the world when it comes to manufacturing technology,
That is not actually true .It's not investors.
And interestingly it is the LAW~!!
Th officers and directors of all publicly traded corporations owe a fiduciary duty to the shareholders. The duty is enforceable at law. If they don't hold true to the duty they can be sued in a derivative shareholders action and forced to disgorge the lost profits from their personal funds.
The duty can be described like this: Officers and directors must increase shareholder value. It is a harsh mistress. There are no alternatives.
So if China comes along and offers to buy a company for more than the current stock value of the company, guess what? They gotta sell to them. That's the law.
If the officers and directors refuse they will be sued by the shareholders.
If ran my household like the US government I would be homeless. It is not just one political party either that is at fault for the mess we are in; it is all of them. Just look how they sit of their fat backsides and do nothing until the very last minute. Most of us got to work at things all the time not just at the minute. Most of the year I work my backside off. Now of course there a month or so there is nothing to do in the business but that when doing most my personal stuff like home repairs.
Just look how are doing on the immigration issue. They should have been working that years ago. We need our 40+ yr old immigration laws update to deal with the modern day issue; not the 70's and 80's issues.
As for our debit we need to both cut down on the spending at the same time stop all the tax loop hole cheats out there which would increase our revenue. Everybody should be paying their fair share. So far in my lifetime we only had one time the US has been out debit and that was when Jimmy Carter was president. And the very next president put us right back in debit.
Well PT, I would challenge that assertion
If you look at the total tax take per annum as a percentage of the countries GDP you will see it is about 1/2 of what it was when Regan was the president
The military is about 3 time the size and the social security budget is way bigger as we all get older
So allowing for inflation the government is doing more with substantially less and that is the same for most Western countries
If you can find a graph of total tax take vs GDP you will see the curve took a big dive under the Regan government
And if you chart company tax vs GDP vs executive salaries vs wages over the same time you see company tax take a dive , wages take a dive and salaries skyrocket .
This of course totally disproves the "trickle down" effect.
Another interesting chart is inherence tax vs executive incomes , you would expect them to follow roughly the same path but again the salaries have had a steep climb while the tax has takes a massive dive as those with the money find ways to avoid the tax rules .
This is why fixed rate tax on everyone and fixed rate turnover taxes on all businesses , including the finance sector is vital and churches should be included in the businesses .
I thought Jimmy Carter was the worse president in US history that is until Biden came along? I remember gas rationing and high inflation.If ran my household like the US government I would be homeless. It is not just one political party either that is at fault for the mess we are in; it is all of them. Just look how they sit of their fat backsides and do nothing until the very last minute. Most of us got to work at things all the time not just at the minute. Most of the year I work my backside off. Now of course there a month or so there is nothing to do in the business but that when doing most my personal stuff like home repairs.
Just look how are doing on the immigration issue. They should have been working that years ago. We need our 40+ yr old immigration laws update to deal with the modern day issue; not the 70's and 80's issues.
As for our debit we need to both cut down on the spending at the same time stop all the tax loop hole cheats out there which would increase our revenue. Everybody should be paying their fair share. So far in my lifetime we only had one time the US has been out debit and that was when Jimmy Carter was president. And the very next president put us right back in debit.
Not really... If they want to stop the sale, there are many ways to prevent it. From "flip-in" to "flip-over" to c-share stock owners can have a large enough share, etc to name a few.So if China comes along and offers to buy a company for more than the current stock value of the company, guess what? They gotta sell to them. That's the law.
Unemployment is downI thought Jimmy Carter was the worse president in US history that is until Biden came along? I remember gas rationing and high inflation.
Unemployment is down
Post covid inflation is down
Oil price is down
US oil production is up
GDP is up
so where is the problem , apart from a functionally broken political system ?
Just take a look at this list. It appears the conservative republicans had the biggest debit increases after Jimmy Carter. So far we have just under 9% debit increase under Biden when compare to Trump which had over 40% increase in debit. I think Biden has done a pretty good at keeping the increase to a minimum so far.
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11 > https://fiscaldata.treasury.gov/datasets/historical-debt-outstanding/historical-debt-outstanding
I think the main problem is people only hear what they want to hear and ignore the rest. This is why I try to stay out most discussions related to either politics or religion. It just causes a lot bad feelings.
As one guy here locally once said if you want to know when a politician is lying, just look for their lips moving.
So much trouble in this world is caused by politics and religion. Man will never have total peace on this planet as long either one is around. They will always be fighting over which is the right way to go. Otherwords they have one finger up their butt hole and one in the mouth and they would rather fight than remove both.
But in general it is best to leave a hornet nest alone than start poking it. For as soon you start poking it you are in for a world of hurt.
With that guys have a safe rest of the year. Personally I staying home just to stay out of trouble and play a lot of Sudoku.
I don't think that is correct as Johnstone is ardent he will subvert democracy and not allow the vote because god spoke to him and instructed him to do so .A good example of this is how the GOP is claiming they're not going to fund much of the Ukraine war. But somewhere in the dead of night, the Senate got a bill that funds billions to Ukraine. It's in the Senate right now.
Actually most wars have been started by dictators , or monarchs .Every war that's been fought in this century was started by a government. So I agree, completely.
And what country do you live in? Gas prices, food prices, energy prices are up. Ask truckers what it cost now to fill up their trucks. Higher fuel prices make higher prices for every thing. Unemployment is only down due to people going back to work after the covid shut. Biden has opened our border and we are being flooded with illegals from all over the world and they are not being vetted at all. Setting records every day in illegals flooding across the border. Have had over 14,000 in one day and growing. Mayors from all over the US are crying about it. Mostly in blue cities. Not that they want anything done about the border but want help from the government and this will put an extra burden on us tax paying citizens. Biden and dems are doing this because they are loosing their voter base and are trying to make it legal for the illegals to vote. To build their base up. If you think this is a good job God help us all.Unemployment is down
Post covid inflation is down
Oil price is down
US oil production is up
GDP is up
so where is the problem , apart from a functionally broken political system ?
ExactlyAnd what country do you live in? Gas prices, food prices, energy prices are up.
In order for eggs and chicken prices to drop we have stop the whole slaughter of the chickens and learn to treat the sick flocks. My flock just recovered in December from all being sick with bacterial cold infection. Two weeks of antibiotic medication and they all recovered except one. I treated two week due to they got sick over a period of a week, three groups. Not bad odds considering I have over 50 birds and if the health department knew about it they would just killed my whole flock and I probably would had committed suicide as they are my family. I had been treating the flock for years so I usually get a head of it but caught off guard this year due a massive black bird flock passing though the area. Usually it is just a couple birds that get sick before I catch it. We do need to come up with Avian Flu antivirus vaccine. It is not going away by just slaughtering whole flocks. It is in the environment and we can't stop it otherwise.
Fuel prices will be going back up due Israel /Hamas war with the Iranian backed Houthis showing their a**e* even when we in the US are producing more oil then ever. Global product prices will start going back up too due the extra shipping costs of having go around the Horn of Africa. The whole Middle East area is a powder keg right now. Then of course we have China and North Korea showing their butts too. And we can't forget the damn Somalian pirates either that has caused a lot trouble around the Horn of Africa.
And top of that we might just have a civil war here after the next major election caused by brainwashed people that won't accept the results.
When will the people in the US understand that the government can only do so much when the rest of the world is in such turmoil? Our economy is Global reliant so are our costs.
When the US people start living within their means and not living off of credit, they be better off. Yes you have to do without fancy gadgets and other finer things. Just think how our folks survive the Great Depression? They buckle down and survived.
Your right the government wastes a lot money on things where it can be better spent on needed things.
But as you probably know some people completely lose all common sense at times. I got one down the street at sends all his spare money to a political group instead fixing his roof. Right he got a lot loose tin on his roof that is just being held down by use tires. He think those millionaires are so broke that they need his pennies.
Yes, I seen that figure yesterday. If I owed that kind of money they would be putting me at least 6 feet under the jail.Or better yet, simply not spent at all. We just reached $34 trillion national debt.
Now you get it as that is what the government does.That's insane. It's like throwing money at a problem.
We might be better off right now than 2 years ago, but We are not better off than 4 years ago.
Closing a pipe line did not change anything?
The reason why you are seeing higher prices is WALL ST profit gouging pure & simpleExactly
Our cost of living expenses are WAY up from just a few years ago.
Everything from gas to diesel, groceries, propane (heating), electric, water, Etc.
Everything costs a lot more.
Again this is Russian propaganda spread on social media to destabilize the USAThe Biden adminstration will have allowed between 8 and 10 million known elligals not counting the got aways into our country during his presidency. The got aways are the ones we need to worry about the most. Probably terrorist.
never a truer word saidAnd 4 years ago, we were worse off than 4 years prior to that. And 4 years prior to that. And so forth and so on, all the way back to George Washington days.
Once people realize that any president has very little to do with making the economy and gas prices better, the better we'll get a choosing a good president.
When Biden took office, the economic and oil bubble had already burst. That die had already been cast and there was no way to stop it.
When Trump took office, the bubble had already burst (during Obama) and we were in an economic recovery stage. That die was already cast as well. Regardless of who won the 2016 election, the economy was going to get better. Russia and Saudi's oil price war was happening. Cheap oil was starting to flood the market and the prices were coming down.
None of this was because of anything Trump did. Just like all the oil production that's going on right now in the US, (record levels) is of Biden's doing. But like Trump, Biden is going to try and take credit for it.
There are 3 kinds of national debt and all of them produce figures that make super rubber look like wet clayOr better yet, simply not spent at all. We just reached $34 trillion national debt.
It comes down to your idiot voting system, optional, voting , the electoral college system made all the worse with elections every 2 years so both parties are on a perpetual bribe the public to vote for me footing .
Then of course every state has their own voting laws plus you have this really idiot system where President Trump can run for president even after being found guilty on the 18 charges he currently is on trial for so is in jail
but a university student who smoked some pot on campus & was convicted can never vote again .
You have a constitution with no provisions for overcoming a blockage of supply so every couple of months you get a government shut down because one side ( both are culpable ) refuses to pass the budget.
Every other country on the planet has a provision for this and in most cases it s a dissolution of the government completely and a full election for all houses and in some cases the president as well .
The Biden adminstration will have allowed between 8 and 10 million known elligals not counting the got aways into our country during his presidency. The got aways are the ones we need to worry about the most. Probably terrorist.
Everything I own is paid for.
Doesn't change the fact that our cost of living has went through the roof the past couple years.
Our gas here is still at 3.40/gal
When it comes down to voting we have a better of electing a pet rock for at least we know it will do more than most politicians.
An tell me again what country you live in that makes you such an authority on the United States of America. Name the one crime Trump has been convicted of. All these charges are baseless false charges. Biden is the criminal in the White House. Selling the Biden Brand to China, Russia. Ukrain and the rest of the world. Allowing a Chines balloon to fly over the US and steal top secret information before he finally shoots it down after it has run it course and is out to sea where the information has probably been ruined but China already has it.
Biden said he was going to end oil, but he's pumping out more than ever...and without filling the reserves. Killing Our Mother. Some other President will have to 'own' that Debt to refill it.
Look here HLW49 neither you nor I know the whole truth about anything other than our personal space. So stop listening to just one source and listen multiple sources and try to filter through the static instead just blindly believing in one source. BTW Trump has been convicted of some the civil charges already. Right now his tactics is just trying to delay things as long as he can any of the pending criminal trials.
As for the Chinese balloon you do know that one of our internet providers relay the data from it to China don't you? I don't hear you screaming about that.
Any wonder why the media and bureaucrats keep it all covered up...If the government was transparent on everything, there would be a rebellion.
and I don't believe Joe reducing the Reserves by almost half was for maintenance reasons. Its a sorry excuse now being used to not having to refill it. Its just propaganda.
There are Annual Reports for each year since then. Interesting reads. I failed to find much in there about significant drawdowns because of maintenance. I believe that is an excuse some want us to believe for the large drawdown since January 2021.I don't believe much of what they say either, but It was reported back in 2016.
There are Annual Reports for each year since then. Interesting reads. I failed to find much in there about significant drawdowns because of maintenance. I believe that is an excuse some want us to believe for the large drawdown since January 2021.
To worry less stop reading outside you normal work area of manuals and docs. Just too much miss information out there. Anybody can make up stuff and have others to believe it as most rather believe lies than the truth.
This why I avoid all the junk news sites and social media posts that I can. Can't worry about something if you don't know about it.
There you go...Glad you feel a lot better now. Social to me is just too nerve racking.Got enough equipment problems to keep myself wound up lately. Just wish I had some halfway warm and dry days for a week or so. Two major projects at a standstill due weather being cold and wet.
Hopefully it not as bad as the one I repaired last run $2200 with to replace bulk front and engine plastics. S180, less than 4 months old at the time. Warranty didn't cover stupid.
RapeAn tell me again what country you live in that makes you such an authority on the United States of America. Name the one crime Trump has been convicted of. All these charges are baseless false charges. Biden is the criminal in the White House. Selling the Biden Brand to China, Russia. Ukrain and the rest of the world. Allowing a Chines balloon to fly over the US and steal top secret information before he finally shoots it down after it has run it course and is out to sea where the information has probably been ruined but China already has it.
I think you are a bit off course there PTI used to think this way. But it's been 3 years since Biden took office and stopped the "remain in Mexico" rule. And we still haven't had a terrorist attack. So much of this is just fear mongering propaganda.
Agreed, we need to secure the border. But even moreso, they, Trump and Biden both, need to address "why" they come here. And the bottom line is money. (it's always money)
Most Mexicans and South Americans are lucky to make $15 per day. The minimum wage in MX is only $10 per day. (Yes, per day). They can make as much in one day here, as they can in a week there.
The end all solution to this is to address our monetary policy.
Right now, $25hr is a lower middle class wage. (or about that) This is because our currency is over inflated. $25 doesn't buy $25 worth of goods anymore. There was a time, not too long ago, (maybe 50 years) where a person making $8hr could live pretty good. We need to return to that.
Would you rather have $20 that bought $20 worth of goods? Or $100 that bought $20 worth of goods?
It doesn't matter, does it? We're still getting $20 worth of goods.
Where the huge benefit comes is when companies can hire people for $8hr and the employee can be satisficed with that amount, because they can live pretty good on it. Once the wages come down (drastically), so will the prices of everything else. Then those companies can not only afford to expand and hire more people. But also other countries can afford to buy American products. This is how the USA was able to become the manufacturing giant of the world. It wasn't until big spending politicians started over inflating the USD value by ballooning the debt, did US companies started outsourcing so much of our labor.
If $1 USD was equal to 1 Peso, the flood of immigrants would stop. US manufacturing jobs would come pouring back so much so that illegal immigration wouldn't be a problem.
But politicians don't want to solve either of these two problems. They want to keep the problem alive to keep you voting and donating.
If all of this is confusing, I understand. It took me a few years to finally get it.
P.S. I'm not holding my breath for the House, Senate or the president (any of them) to get it either.
Actually there is at least 1 trustworthy source of news and it is called Ground News .https://ground.newsTo worry less stop reading outside you normal work area of manuals and docs. Just too much miss information out there. Anybody can make up stuff and have others to believe it as most rather believe lies than the truth.
This why I avoid all the junk news sites and social media posts that I can. Can't worry about something if you don't know about it.
I think you are a bit off course there PT
Wages go up because of inflation
Inflation is an artificial device to ensure the value of the assets of the wealthy do not diminish over time
The other thing it does is reduces government debt over time .
Wall St has bought the government so business earnings & profits skyrocket while wages barely keep pace with inflation
So the rich ge richer at an ever increasing rate while to middle class slowly slide into becoming the working poor
Some of the border crossers are financial refugees while others are escaping repressive regimes or criminal warlords
And again, much of the political instability in South America is directly due to US interference and all of the drug cartels are a direct result of stupid US drug laws creating a massive black market .
I would have thought that after the booze prohibition that created massive amounts of organized crime gangs , the USA would have realised that banning things does
not work , never will work & just creates a black market .
I find it hillarious that in the bastions of the free market economy the conservatives decided that they & they alone know what you can put into your body, take out of your body, who you can marry and how you have sex , not a very free market to my understanding.
If you want to fix the border then you do what Australia has done and jail employers who employ people who have entered the country illegally , ie no greencard .
Our first attempt was to tax the undocumented workers 75% but that did not stem the flow as they simply worked 2 full time jobs + weekends to make ends meet so then we fined the employers and that did not work very well so we jailed a few and that stopped large employers dead .
I had a full shift of over 300 men who were all illegals & paying 75% tax
Oh we can't forget that now Trump is claiming on his social media platform that he is God chosen one to run Our country. Yes he actually posted that.
And PT it is us low end tax payers that can't high lawyers that has to pay taxes. Rich guys like Trump can find a way to avoid paying taxes. Like he did recently when he paid only $750 dollars in taxes claiming huge write-offs yet a guy like me had to pay $859 on $6077 of income last year.
And of course companies like close to me that no employment taxes on their employees and still by with it.
All I know about wages is that everytime the government raises the minimum wage to help the low end wage earners, they are the ones that get hurt by prices increases.
With the recent tends of minimum wage hikes here I can no longer afford to eat out at the local fast food places. Meals that cost $3 with a drink five years ago are now over $10 and may not even include a drink.
President Trump on Wednesday voiced support for confiscating guns from certain individuals deemed to be dangerous, even if it violates due process rights.Here's a few things Trumps guilty of.
Reauthorizing warrantless spying on Americans. (FISA 702)
Assaulting our 2A (Banning bump stocks) Luckily a constitutional judge deemed it unconstitutional and reversed Trumps ban.
He also stated he was in favor of "take the guns first. Do due process later." <<His exact words
Lying about nearly everything.
Borrowing and spending way more than the government takes in, and helping to create the 8% inflation hike.
Getting US, Mexico and Saudi oil producers to decrease oil production. Decreasing productions always leads to fuel price increases.
Forcing landlords to go without rent payments for a year. (the first covid mandate)
On his last day in office, he gave Fauci an award.
He tried to give blacks reparations to the tune of $500 billion (The Platinum Plan)
He didn't "lock her up." He didn't even try. Even after it was known that she funded the initial stages of the whole "Russia collusion" scandal.
Most of these things should've been impeachable offences. Maybe his idea of protecting and defending the US constitution has a different meaning to him.
President Trump on Wednesday voiced support for confiscating guns from certain individuals deemed to be dangerous, even if it violates due process rights.
“I like taking the guns early, like in this crazy man’s case that just took place in Florida … to go to court would have taken a long time,” Trump said at a meeting with lawmakers on school safety and gun violence.
“Take the guns first, go through due process second,” Trump said.
Trump was responding to comments from Vice President Pence that families and local law enforcement should have more tools to report potentially dangerous individuals with weapons. {mosads}
“Allow due process so no one’s rights are trampled, but the ability to go to court, obtain an order and then collect not only the firearms but any weapons,” Pence said.
Don't you just love the way they promise you the moon and then give you a toothpick to reach it?
Yesterday I finally got a call from the TAS about my IRS problem, it only took a lot bitching and 6 months. She started right off lying to me and trying to find excuses. I just told her to do her job and either get the problem fixed or not. Meanwhile I am sending this year's 1040 with no payment. So I am escalating the problem; five years is long enough to fight the problem. Somebody will get fired over this probably.
Oh that market place acted like they could get me financial help with my insurance. Want a financial statement which I provide where I was netting $300 per month at the time and then they wanted over $900 per month for insurance. I had to do without insurance ever since.
What worst is Tenncare said I making too much to on their program too.
Yelp it is over 46K but they will be sold at cost. Otherwords; I just be getting back what I have already paid out. So the IRS will be losing out on the potential profit taxes since I write off the parts cost as I sell them. So no more trying to sell them at retail which is over 93K. Besides I don't have report a profit but once every five years.
View attachment 67585
Just sold a battery charger that I just brought for 24.59 for 24.59 plus sales tax. That will keep me legal with my state sales tax people.
Can be considered both. But I don't have to make a profit. Or if push comes to shove I will just destroy the parts.Are you working out of a shop? Or at your house?
Why not...Oh I know let them be dictators. They will have to provide my lawyers as I can't afford one. I am through begging them to do something so simple. I just like them try to find the cat they claim I am. I am just as stubborn as they are after 65 yrs.Those SOBs. It took forever and thousands of $$$ to get them off my butt.
Here's a suggestion: Do not escalate anything with the IRS.
There shouldn't be that many IRS agents. Much less new ones.Just remember those that voted to send 79,000 new IRS agents after us...and don't believe they're going only after 'the rich'.
I know...those same people have other rationalizations why the 79,000 new agents are 'needed'.
Remember, its not your money...you didn't earn it.
The problems is electors like offical who stand on a podium and drop figures likeJust remember those that voted to send 79,000 new IRS agents after us...and don't believe they're going only after 'the rich'.
I know...those same people have other rationalizations why the 79,000 new agents are 'needed'.
Remember, its not your money...you didn't earn it.