Archive for the ‘Economy’ Category



11:00am Press Conference

Sponsored by: Our Youth, Inc./Nor Enterprises

For More Information

Contact: Norman M. Oliver — 302-655-8250


Time: 10:00am Turkey Drop Off Time
11:00am Press Conference
11:45am Turkey Deliveries Begin
Where: Nor Enterprise Offices, 1213 B Street, Wilmington, DE 19801


WILMINGTON, DE – Nor Enterprises, Inc. President Norman M. Oliver will hold their 30TH Annual Turkey Give-A-Way that has helped thousands of families to have food for the Thanksgiving holiday weekend. This year, their goal is to feed 2000 seniors and others. Joining this outstanding effort will be some of Delaware’s leading elected officials, who will give on their time and generosity to assist in the distribution of the turkeys. The turkeys can be delivered to NOR Enterprises, offices on Tuesday November 20, 2012 between 8:00am and 11:00am. A press conference will be held at 11:00am at NOR Enterprises, Inc. 1213 B Street in Wilmington. The turkeys will be distributed to families and senior citizens right after the press conference.


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This brings us to Al Gore.

Earlier this month the Washington Post’s Carol Leonnig reported that the former vice president’s wealth is today estimated at $100 million, up from less than $2 million when he left government service on a salary of $181,400. How did he make this kind of money? It wasn’t his share of the Nobel Peace Prize. Nor was it the book and movie proceeds from “An Inconvenient Truth.”

Instead, as Ms. Leonnig reports, “Fourteen green-tech firms in which Gore invested received or directly benefited from more than $2.5 billion in loans, grants and tax breaks, part of President Obama’s historic push to seed a U.S. renewable-energy industry with public money.”

That’s nice work if you can get it—at least if you’re on the investment-management end of the deal. But what if you’re on the worker-bee end?

The Post story mentions one of the beneficiaries of Mr. Gore’s investment acumen, Milwaukee-based Johnson Controls, JCI -1.34% which won a $299 million award from the federal government in 2009 to make electric-car batteries. Here’s how that worked out:

“The company has dramatically scaled back, after executives concluded demand for electric cars was far lower than the administration forecast. The factory outfitted with stimulus funds is nearly idle, and plans to build a second plant have been postponed.”

via Stephens: Barack Obama and Other Has-Beens – WSJ.com.

Compare this to:

Johnson Controls Breaks Ground on New Automotive Battery Distribution Center in Delaware

MIDDLETOWN – Johnson Controls, Inc., the world’s largest supplier of automotive batteries, today broke ground on a new 400,000 square-foot distribution center in Middletown, Del. The company is investing more than $75 million in the facility, which will perform the charging, packaging and distribution of automotive batteries for the Northeast region of the United States.

The groundbreaking was attended byGovernor Jack Markell, U.S. Senator Tom Carper, U.S Senator Chris Coons,Delaware Economic Development OfficeSecretary Alan Levin, Middletown Mayor Kenneth Branner and Johnson Controls Vice President and General Manager for the U.S. and Canada Kevin Pasqua and Middletown Plant Manager Rick Thompson. Several other company leaders and state officials joined the celebration.

“Johnson Controls could have relocated elsewhere but decided to stay in Middletown and expand in Delaware,” said Governor Jack Markell. “It’s great to see a business here succeed and be confident that expanding its work will lead to even greater success. This project puts Delawareans to work producing and distributing products for the region. As Johnson Controls moves forward with its expansion, Delaware’s job market moves forward as well.”


Add the $2.06 million received by Johnson Controls to the tens of millions received by Fisker Automotive and Bloom Energy as companies that have received special treatment in Delaware because of their connection to the California Venture firm of Kleiner Perkins, whose leadership consists of Markell donor, John Doerr, and Green-energy profiteer, Al Gore. Oh, and Johnson Controls purchased the remaining assets of A123, the failed battery developer for Fisker Automotive. And the Wall Street Journal article speaks to the success of electric car batteries.

In the Governor’s defense in the case of Johnson Controls, it is an existing company with an existing supply chain, existing expertise, and they received significantly less money. But this payout continues a dangerous trend in Delaware. Send Jack the money, and he gives it to his friends…

Al Gore has profited nicely from the public. Will anyone else?

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There’s an old joke, “The firings will continue until morale improves”, that is told as a form of gallows humor when discussing a company on the ropes. Helicopter Ben has re-written the joke in terms of Fed Policy.

The Fed on Thursday said it would pump $40 billion into the U.S. economy each month until it saw a sustained upturn in the weak jobs market. (Read more: Fed’s ‘QE Infinity’ — Four Things That Could Go Wrong)

via US Credit Rating Cut by Egan-Jones … Again – US  Business News – CNBC.

After pumping two million million (a trillion is a million million, I like to write it this way, periodically, to remind myself what a huge number a trillion really is.) into the economy and getting scant return, he’s at it again. Kind of reminds me of another classic phrase: The definition of insanity is doing the same thing over and over again while expecting a different result.

Mr. Chairman. The problems that our economy faces are not monetary. They are fiscal and governmental policy-based. You have fouled up the market so badly that no one knows what the actual price of risky assets are anymore. Get out of the way, and let the folks in Washington flop around until they develop the right mix of legislators to simplify the tax code, reduce regulatory burdens, and re-establish the gold standard.

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Evidently, the Democratic Chair of the Bowles-Simpson Deficit Reduction Committee feels that Paul Ryan is more serious, more informed, and more bi-partisan than the Commander-in-Chief. Glad to see that there are still a few adults left on the Left…

From Yahoo News:

A video of former Clinton White House chief of staff Erskine Bowles began circulating in conservative news outlets today. In the clip, the Democratic co-chair of President Obama’s National Commission on Fiscal Responsibility and Reform gives high praises to Paul Ryan’s budget plan.

“I’m telling you, this guy is amazing. I always thought I was OK with arithmetic. This guy can run circles around me,” Bowles tells a class of students at the University of North Carolina at Chapel Hill.

“He is honest, he is straightforward, he is sincere. And the budget he came forward with is just like Paul Ryan. It is a sensible, straightforward, honest, serious budget and it cut the budget deficit just like we did by four trillion dollars.”

The video was shot on September 8, 2011, but was just uploaded to YouTube yesterday. What’s striking is that not only does Bowles, a former U.S. Senate candidate from North Carolina, praise Ryan’s effort, but he is also highly critical of the budget offered by President Obama. More from the video:

“The president came out with his own plan. And the president, as you remember, came out with a budget. And I don’t think anybody took that budget very seriously,” Bowles continues.

“The Senate voted against it 97 to nothing. He therefore, after a lot of pressure from folks like me, he came out with a new budget framework. And in that budget framework, he cuts the budget by four trillion dollars over twelve years. And, to be candid, this four trillion dollars cut was very heavily back-end loaded. So, that if you looked at it on a ten-year basis and compared apples to apples, it really was about a two and a half trillion dollar cut.”

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In a very brief interchange, VP Candidate Paul Ryan spells out the difference between Republican leadership and Democratic political junk…

“Leaders are supposed to fix problems,” Mr. Ryan lectured Mr. Geithner, demanding the White House offer a new proposal to tackle rising health-care costs. Mr. Ryan said the White Houses approach to the deficit would bring on a “European-style debt crisis.”

“We are not coming before you today to say we have a definitive solution to that long-term problem,” Mr. Geithner said. “What we do know is we don’t like yours.”

via For White House and Ryan, Deficit Became Personal – WSJ.com.

In other words, the White House has no solution, they just want to throw rocks at everyone else. That is what has become of the Left. Pitiful. Really pitiful.

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