Friday, June 08, 2012

Eric Cantor does not get away with simpleton statements anymore. The people of this country have a right to understand the truth.

The May Jobs Report issued on June 1, 2012. This is why the Republicans do not do 
well with the economy and only use rhetoric.

Health Care Employment - For the most part the INCREASE in health care jobs were 
in small business. If I may? 

Health care employment continued to increase in May (+33,000). Within the 
industryemployment in ambulatory health care services which includes offices 
of physicians and outpatient care centers, rose by 23,000 over the month. 
Over the year, health care employment has risen by 340,000.

Doctor's office and ambulatory care centers are primarily small businesses. While 
ambulatory care centers can be connected with hospitals, there are those privately 
owned and physician offices are private small corporations with an occasional
individual. So much for the Romney "Land of Mitt Believe" that The Affordable Care
Act was enacted blindly without realizing it was going to adversely effect the
economy. NOT SO!!!!!!!!!!!

Transportation and Warehousing

These are not necessarily small businesses. They can be, but, the majority of the 
transportation industry and warehousing is usually Wall Street. It requires major 
investment in equipment, real estate and labor.

Transportation and warehousing added 36,000 jobs over the month. Employment 
gains in transit and ground passenger transportation (+20,000) and in couriers and 
messengers (+5,000) followed job losses in those industries in April. Employment 
in both industries has shown little net change over the year. In May, truck 
transportation added 7,000 jobs. Employment in wholesale trade rose by 16,000 over 
the month. Since reaching an employment low in May 2010, this industry has added 
184,000 jobs.

The transportation and warehousing industry is primarily "Big Box" stores and now one 
is discussing China. We know Wall Street is draconian in their treatment of labor. So,
the labor force in April lost jobs more than likely because of the end of an very 
extended "Black Friday" and Christmas Sales. If one recalls there were all kinds of 
sales to attract buyers to the stores, but, that sort of dried up around Marchish. So
the warehouses were no longer moving inventory to the stores and the transportation
was not necessary. The labor working during the 'sales months' were probably part 
time and temporary. Wall Street for the most part only hires when it is necessary.
Wall Street is not making permanent expenses anymore in the way of labor. So while
there was a net growth in this industry, it is because there was a net sustained 
growth over the year, otherwise, that would not exist either. This is private industry, 
not government. The only sustainable transportation industry in government is military 
and that does not count here.


Here again the industry is primarily Wall Street due to the high cost of 'capital' 
investments. Investments in real estate, machinery, inventory, etc. Okay? There are
small businesses doing manufacturing, they are not as numerous in the USA as I would
like to see them, but, those investments are through the Small Business Administration 
because banks won't indulge those loans anymore. The banks are too busy investing in 
risk than solid and sustainable economies. Now, the best example in this category is
of course the car manufacturers. They have been increasing their production. They
are carrying some cash flow now, which is good, and they are optimistic about the 
economy and their sales. Therefore.

Manufacturing employment continued to trend up in May (+12,000) following 
a similar change in April (+9,000). Job gains averaged 41,000 per month in the 
first quarter of this year. In May, employment rose in fabricated metal products 
(+6,000) and in primary metals (+4,000). Since its most recent low in January 2010, 
manufacturing employment has increased by 495,000.

Nice. Different than transportation and warehousing. The only warehousing in the 
auto industry are on dealership lots and that inventory is moving. Consumers are 
enjoying new cars with better fuel mileage and alterative fuels as well. Trucks are 
still selling, but, Ford as what they call "Eco Boost" and people seem to like it. For 
the most part this PRIVATE industry is doing just fine. The transportation and 
warehousing industry is 'intermittent' by CHOICE. They are exercising their idea of 
'the bottom line' and they are not in distress. They are showing record profits. There
is absolutely nothing wrong in that industry UNLESS one talks to the employees who
see work 'intermittently' and are put on and taken off the unemployment roles for
profit margins.


This is primarily private small businesses. They have been in distress since the 
global economic collapse and that isn't going to change soon. These are the
contractors, sub-contractors, electricians, plumbers, etc., etc. I believe it was this
past Sunday I used an illustration of the Miami, Miami Beach, etc. housing market 
and it showed a slow down. The slow down there is twice the national average, but,
the real estate industry has analyzed its future and we are looking at years if not a 
complete decade before housing prices return to where they were before the collapse.
Additionally, there is still a glut of homes and business buildings since the Bush years
so, there is no surprise this industry is hurting now that the USA Congress, including 
Eric Cantor has stopped The American Jobs Act. The American Jobs Act targeted this
industry, small business, that would renovate public buildings, especially schools, to 
provide this industry relief at least for the next few year because it will take that 
long to rebound. Okay? So, when Eric Cantor rants on about private small businesses

Construction employment declined by 28,000 in May, with job losses occurring in 
specialty trade contractors (-18,000) and in heavy and civil engineering construction 
(-11,000). Since reaching a low in January 2011, employment in construction has
shown little change on net.

Employment in Professional and Business Services

These are small businesses, for the most part. Even large accounting firms are similar
to dynamics of large law offices, they are still small businesses. Depending on the 
size of the business there will be independent contractors used to get a volume of 
work done. We know business does not like paying their own labor and will seek 
to reduce their labor force, even though this is a dense use of PROFESSIONAL and 
expert staff, they'll get rid of them anyway. What is most likely occurring in 
"small gains elsewhere in the industry," is the growth of private small businesses that
perform contract work. They are probably receiving greater demand and are hiring 
staff to maintain high quality work while taking on more contract business. This is a 
PARADIGM SHIFT. Successful businesses are completing their business dealings 
differently and incorporating the use of external talent to achieve the same goal.
This is a very healthy industry and while jobs are being shed, they aren't necessarily
being lost.

Employment in professional and business services was essentially unchanged in
May. Since the most recent low point in September 2009, employment in this
industry has grown by 1.4 million. In May, job losses in accounting and
bookkeeping services (-14,000) and in services to buildings and dwellings
(-14,000) were offset by small gains elsewhere in the industry.

Other Major Industries

These are not small businesses. Here again there will be the occasional small business
but for the most part these are larger industries due to the high cost of capital 
investments. Natural resources, Big Box Stores, Google, HP, IBM, Morgan Chase, Citi,
Goldman are not at all small businesses. The Big Box Stores actual sales are part of 
this industry. Their transportation and warehousing is considered differently. Included
here is the tourism industry which can be seasonal and then government. 

Employment in other major industries, including mining and logging, retail trade,
information, financial activities, leisure and hospitality, and government, changed 
little in May.

This is where Cantor made his big mistake. This is the part of the economy that
is private but doing JUST FINE. They are not adding jobs to enjoy their larger profit 
margins and CEO bonuses. This is where the money is sequestered and no matter how
much their taxes are cut they ain't going to grow jobs because their 'yin and yang' 
are content. They are taking risk to some extent as we have seen recently with Morgan
but, for the most part the industries are not adding jobs due to their own standards. The 
CEOs in this industry would be adding labor if they thought for one minute their bonuses
would grow.

The government jobs have not changed because there are cutbacks, as in Wisconsin, and
there are budget short falls and the President is AGAIN correct. The private sector is fine.
The American Jobs Act would have boosted the employment in government AND their
small business contractors, increased economic stability in their states, improved local
economies, tax bases and property values. BUT. Eric Cantor and the rest of the GOP 
rather "Make Obama a one term President" than actually do what is best for the country.

Posted on: 1:54 pm, June 8, 2012, by Scott Wiseupdated on: 02:14pm, June 8, 2012

WASHINGTON, DC (WTVR) – Rep. Eric Cantor (R – Virginia) (click here for video) fired back at President Obama Friday after the President said the country’s private sector was “doing fine.”
“My question would be to the president: Are you kidding?  Did he see the job numbers that came out last week? The private sector is not doing fine,” Rep. Cantor said....
The 2010 elections were based in creating jobs. NOW, we know whom the culprits 
really are, the House and Senate GOP!

The thoroughbreds of 34 years ago are gone.

I’ll Have Another Scratched From Belmont, Ending Triple Crown Bid (click here)

President Obama should call on Congress about the economy more often, especially since it is an election year.

Perhaps Republicans will actually pay attention to the country for once.

Pelosi to Boehner: 'Don’t run out the clock on the economy’

By Joshua Altman 06/07/12 12:02 PM ET
With the House scheduled for a a break next week, Minority Leader Nancy Pelosi (D-Calif.) is pressuring Speaker John Boehner (R-Ohio) to cancel the recess and focus on passing jobs legislation favored by Democrats.

“The Democrats have a simple request, simple request to our Republican colleagues: don’t run out the clock on the economy,” Pelosi said, speaking to reporters Thursday.

Pelosi sent a letter to Boehner that was made public Wednesday asking him to cancel the recess to “pass critical legislation that will create jobs for the middle class that will actually be signed into law.” 
Democrats have mocked the Republican leadership for what they say is a lax legislative schedule, but her request is likely to be ignored or rejected by GOP leaders.

See, I really think the Republicans only talk about jobs creation when in fact they see their job as finished because Wall Street is doing fine, except, for the teetering in Europe on occasion. I could not be more serious. If anyone examines any of the so called "jobs bills" from the House of Representatives it is all based in supporting the infrastructure through Wall Street indulgences. The Republicans cannot create jobs, they hand it over to the CEOs and simply talk about how many more tax cuts they can issue to assist Wall Street create jobs. 

Now, they have a Presidential Candidate that is the epitome of a Wall Street CEO, if not the pinnacle of that strategy. So, what do the American people believe will happen if the GOP is returned to significant numbers in the House and Senate, yet alone the Executive Branch. It will happen all over again and the Republicans will stand ready to bail them out, except, they will be low on cash in the Treasury this time.

Congress needs to be reminded more often who poorly they are actually conducting themselves and creating jobs. After all, the 2010 Republicans promised they could do things no one else could. They haven't!

As Recess Nears, Little Hope for Breaking Partisan Impasse (click here)

WASHINGTON — They are the sort of bills that, once upon a time in Washington, passed easily: money for highways and students, protection for battered women....

...Members of Congress are increasingly worried about the lame-duck session after the election, one replete with expiring tax provisions and onerous budget cuts that are increasingly becoming known as the “fiscal cliff.” But there is also a policy precipice at the end of June, when two important programs will expire if Republicans and Democrats cannot find a way to compromise on them.
“There is frustration among a bipartisan group,” said Senator Jeanne Shaheen, Democrat of New Hampshire. “There are an awful lot of red states that need transportation funding, too.”
Even more remarkably, the two parties are at an impasse on a formerly benign measure that has routinely passed with near unanaimous bipartisan support, one that protects women from domestic violence....

Is Romney a voyeur? Seriously. Multiple floors will create interesting views other than the ocean.

Tear it down: (click here) Mitt Romney's 75-year-old beach house just isn't big enough. He plans to level it and replace it with a mansion two and a half times the size, featuring a car elevator

I hear the neighbors are not happy. Something about a dog or something like skylights and stuff. Arf, arf, I'm on the roof.

Two and a half times bigger? For two people? Oh, yeah, four cars for two people. Maybe the horses are coming, too. California has that zoning you know. There are some communities that remove their manure with the trash and the four legged creatures hold up in the backyard. I don't think Reagan did it that way though. He had stables and spurs.

Different stokes, you know?

The American Jobs Act - Part IV

Part IV--Extension of Exemption from Alternative Minimum Tax Treatment for Certain Tax-Exempt Bonds

Sec. 260. Extension of Exemption from Alternative Minimum Tax Treatment for Certain Tax-Exempt Bonds

The exemption was to be extended to January 1, 2013.

(c) Effective Date- The amendments made by this section shall apply to obligations issued after December 31, 2010.

Subtitle G – Project Rebuild

Sec. 261. Project Rebuild

Straight forward and simple; maintain the integrity of neighborhood effected by high rates of foreclosure. 

(a) Direct Appropriations.— There is appropriated, out of any money in the Treasury not otherwise appropriated, $15,000,000,000, to remain available until September 30, 2014, for assistance to eligible entities including States and units of general local government (as such terms are defined in section 102 of the Housing and Community Development Act of 1974 (42 U.S.C. 5302)), and qualified nonprofit organizations, businesses or consortia of eligible entities for the redevelopment of abandoned and foreclosed-upon properties and for the stabilization of affected neighborhoods.

Subtitle H – National Wireless Initiative

Sec. 271. Definitions

Self explanatory.

Part I – Auctions of Spectrum and Spectrum Management

The Obama Administration wanted to auction some of the band the government owns.

Sec. 272. Clarification of Authorities to Repurpose Federal Spectrum for Commercial Purposes

“(3) DEFINITION OF RELOCATION AND SHARING COSTS.--For purposes of this subsection, the terms “relocation costs” and “sharing costs” mean the costs incurred by a Federal entity to plan for a potential or planned auction or sharing of spectrum frequencies and to achieve comparable capability of systems...

Sec. 273. Incentive Auction Authority

More of the same 'clarifying' language to achieve the same purpose. 

“(F) Notwithstanding any other provision of law, if the Commission determines that it is consistent with the public interest in utilization of the spectrum for a licensee to voluntarily relinquish some or all of its licensed spectrum usage rights in order to permit the assignment of new initial licenses through a competitive bidding process subject to new service rules, or the designation of spectrum for unlicensed use, the Commission may pay to such licensee a portion of any auction proceeds that the Commission determines, in its discretion, are attributable to the spectrum usage rights voluntarily relinquished by such licensee....

Sec. 274. Requirements When Repurposing Mobile Satellite Services Spectrum for Terrestrial Broadband Use

To the extent that the Commission makes available terrestrial broadband rights on spectrum primarily licensed for mobile satellite services, the Commission shall recover a significant portion of the value of such right either through the authority provided in section 309(j) of the Communications Act of 1934 (47 U.S.C. 309(j)) or by section 278 of this subtitle.

That is the entire provision.

Sec. 275. Permanent Extension of Auction Authority

Section 309(j)11 of the Communications Act of 1934 (47 U.S.C. 309 (j)(11)) is repealed.

Section 309(j)11 of the Communications Act of 1934 
(11) Termination
The authority of the Commission to grant a license or permit under this subsection shall expire September 30, 2022.

Sec. 276. Authority to Auction Licenses for Domestic Satellite Services

“(17) Notwithstanding any other provision of law, the Commission shall use competitive bidding under this subsection to assign any license, construction permit, reservation, or similar authorization or modification thereof, that may be used solely or predominantly for domestic satellite communications services, including satellite-based television or radio services....


Sec. 277. Directed Auction of Certain Spectrum

(a) IDENTIFICATION OF SPECTRUM.—Not later than 1 year after the date of enactment of this subtitle, the Assistant Secretary shall identify and make available for immediate reallocation, at a minimum, 15 megahertz of contiguous spectrum at frequencies located between 1675 megahertz and 1710 megahertz, inclusive, minus the geographic exclusion zones, or any amendment thereof, identified in NTIA’s October 2010 report entitled ‘‘An Assessment of Near-Term Viability of Accommodating Wireless Broadband Systems in 1675–1710 MHz, 1755–1780 MHz, 3500–3650 MHz, and 4200–4220 MHz, 4380–4400 MHz Bands,’’ to be made available for reallocation or sharing with incumbent Government operations....

Yep. I've heard this all before. You?

Sec. 278. Authority to Establish Spectrum License User Fees

Section 309 of the Communications Act of 1934 is amended by adding the following new subsection at the end thereof:
“(m) USE OF SPECTRUM LICENSE USER FEES. – For initial licenses or construction permits that are not granted through the use of competitive bidding as set forth in subsection (j), and for renewals or modifications of initial licenses or other authorizations, whether granted through competitive bidding or not, the Commission may, where warranted, establish, assess, and collect annual user fees on holders of spectrum licenses or construction permits, including their successors or assignees, in order to promote efficient and effective use of the electromagnetic spectrum.

“(1) REQUIRED COLLECTIONS. –the Commission shall collect at least the following amounts 
(A)$200,000,000 in fiscal year 2012;
(B) $300,000,000 in fiscal year 2013;
(C) $425,000,000 in fiscal year 2014;
(D) $550,000,000 in fiscal year 2015;
(E) $550,000,000 in fiscal year 2016;
(F) $550,000,000 in fiscal year 2017;
(G) $550,000,000 in fiscal year 2018;
(H) $550,000,000 in fiscal year 2019;
(I) $550,000,000 in fiscal year 2020; and
(J) $550,000,000 in fiscal year 2021.”

How. Could any self respecting Republican that believes in reduction of the National Debt ever pass up this one? Beats the hell out of me.

Oh, wait, the Republicans top priority is to make President Obama a one term President. That's right. No matter the lie, no matter the cost, no matter how much the American people scream OUCH! I remember now. How silly of me to even consider this important.

Until later.

Warren is up to the challenge, her voice needs a rest, though.

Evidently, Scott Brown wants to try out his radio voice to audition along side Illinois Representative Joe Walsh. Brown wants to have a verbal dual over the radio waves. 

I heard Elizabeth Warren speak this evening on the Rachel Maddow Show and it was obvious how hard she has been working during the Democratic Primary. Her voice sounded course. She needs to rest the vocal cords a bit. Then she might be up to a radio debate.

By Hillary Chabot
Friday, June 8, 2012

As Elizabeth Warren agreed (click here) to a third debate yesterday, rival U.S. Sen. Scott Brown knocked the Democrat for ignoring radio debates.
“Scott Brown has already accepted four debate offers, including two radio forums that Elizabeth Warren has refused to commit to,” said Brown spokesman Colin Reed.
Warren announced yesterday she will take part in a debate hosted by the Boston Media Consortium....

I found this interesting. Career professionals care about the environment.

In celebration of Earth Day on April 22nd,(click here) The Ladders released a new survey today revealing that job seekers go for the green when making a decision about their future employer. In fact, when offered two equal job opportunities, 72% of candidates would choose the more eco-conscious company versus 10% who said that they would not. Less than a fifth (18%) said it would not influence their decision. TheLadders, the most comprehensive job-matching service for career-driven professionals, surveyed more than 100 professionals in the following industries: construction, education, engineering, finance, human resources, law, marketing, medical/science, operations, real estate, sales and technology. (PRNewsFoto/TheLadders) 

Read more here: