Post by rjfliberal07 on Mar 31, 2007 23:34:48 GMT -6
I remain skeptical about this whole thing. First off, can the commerce department just say " hey let's add tariffs on these goods here", or does congress have the authority to vote on these tariffs? Also I wonder why Bush is deciding to do this now when 3 million manufacturing jobs have been lost in the six years that he has been President? Does Bush and his people see the storm brewing ahead, and want to take steps to at least save face?
Constitutionally, Congress is to have the authority and regulation for trade agreements, but since Nafta, Fastrack and other trade "agreements" Congress has abdicated much of its responsibility to the executive branch. But I think you are on to something here, Just like the steel tariff, this paper tariff may just be a bone thrown to placate the true conservatives in the republican party that are raising concerns about the trade deficits, and beginning to side with fair trade democrats.
"Who ever heard of a labor shortage that didn't put a corresponding upward pressure on wages?"
Post by unlawflcombatnt on Apr 1, 2007 14:54:26 GMT -6
blueneck said:
like the steel tariff, this paper tariff may just be a bone thrown to placate the true conservatives in the republican party that are raising concerns about the trade deficits, and beginning to side with fair trade democrats.
I suspect this is truly the case. The Bush administration's "base" supporters are the multinational Corporations, banks, and international investors. They're not going to like it if tariffs become a persistent trend. They might have to do the unthinkable, and hire American workers to produce their products if tariffs are too widely applied.
from: The Declaration of Independence: "all Men are...endowed by their Creator with certain unalienable Rights... to secure these Rights, Governments are instituted... whenever any Form of Government becomes destructive of these Ends, it is the Right of the People to alter or abolish it"
Ok, now I am beginning to understand. For the life of me I couldn't figure out, why paper? why now? After countless industries have been and are being decimated, they finally did something to help the paper industry. Now I see :
Gold East questions NewPage’s motives. Gold East charges that NewPage, which is owned by private-equity major Cerberus Capital Management, is trying to use the U.S. government to push up prices for paper products in the U.S. and create a favorable climate for its long-delayed IPO on New York Stock Exchange, which has been postponed since July, and is crucial to allow Cerberus to cash out.
Cerberus is chaired by John Snow, who served as President Bush’s Treasury secretary from 2003 through last July. The firm has told the press that he did not pull strings in Washington on NewPage’s behalf.
The Commerce Department will make a final determination on the case June 13. If it affirms the tariffs, the case would then be taken up by the U.S. International Trade Commission.
“Goods produced under conditions which do not meet a rudimentary standard to decency should be regarded as contraband and not allowed to pollute the channels of international commerce.” -Franklin Delano Roosevelt
Post by unlawflcombatnt on Apr 13, 2007 19:52:17 GMT -6
Judes,
Good catch. The interests of another Corporate giant, Cerberus Capital Management (chaired by John Snow), is what really prompted the Bush administration to consider tariffs. It's Cerberus's profitability that's really the only concern, and certainly not that of American workers or the American public.
I'd still advocate putting tariffs on everything that comes out of China, not solely on goods that affect the profits of Bush's Corporate cronies.
from: The Declaration of Independence: "all Men are...endowed by their Creator with certain unalienable Rights... to secure these Rights, Governments are instituted... whenever any Form of Government becomes destructive of these Ends, it is the Right of the People to alter or abolish it"
I'd still advocate putting tariffs on everything that comes out of China, not solely on goods that affect the profits of Bush's Corporate cronies.
I agree whole heartedly!
“Goods produced under conditions which do not meet a rudimentary standard to decency should be regarded as contraband and not allowed to pollute the channels of international commerce.” -Franklin Delano Roosevelt
Lou Dobbs had this on the program last night (Kitty Pilgrim filling in for Lou) - it does appear that the paper tariff is indeed not only a bone thrown to placate congess, but a gift to crony John Snowjob. One of the commentators asked why just paper and why now?, and no protection for high tech and value added goods and services? On the surface it does help to save approx 4000 paper jobs in the US, but it does help to increase profits for Snow immensely.
Lou's poll came up that 96% felt that the recent China trade actions were more motivated by Bush trying to get congress to renew his "fast track" authority
"Who ever heard of a labor shortage that didn't put a corresponding upward pressure on wages?"
For those not familiar with John Snowjob before being Bushes Treasury secretary, he was know for running the CSX railroad. He was largely credited with boosting profits on the railroad which looked good on the surface, but it was acheived by slashing employee benefits and neglecting maintenance on track and equipment - the result of which gave CSX one of the worst safety records of all the major RR's. Under Snows watch we had the runaway train in Ohio and the tunnel fire in Baltimore. The lax safety has earned the railroad the nickname of "Crash Spill and eXplode" more on the CSX can be found at csxsucks.com
"Who ever heard of a labor shortage that didn't put a corresponding upward pressure on wages?"
Post by unlawflcombatnt on Apr 18, 2007 13:52:08 GMT -6
blueneck said:
For those not familiar with John Snowjob before being Bushes Treasury secretary, he was know for running the CSX railroad. He was largely credited with boosting profits on the railroad which looked good on the surface, but it was acheived by slashing employee benefits and neglecting maintenance on track and equipment - the result of which gave CSX one of the worst safety records of all the major RR's. Under Snows watch we had the runaway train in Ohio and the tunnel fire in Baltimore. The lax safety has earned the railroad the nickname of "Crash Spill and eXplode" more on the CSX can be found at csxsucks.com
Thanks for posting this. I hadn't heard anything about this before. According to one article, there have been 2 recent deaths of CSX employees from lack of safety, which are now under investigation in New York. Both Senators Clinton & Schumer are involved.
from: The Declaration of Independence: "all Men are...endowed by their Creator with certain unalienable Rights... to secure these Rights, Governments are instituted... whenever any Form of Government becomes destructive of these Ends, it is the Right of the People to alter or abolish it"
Post by unlawflcombatnt on Apr 18, 2007 14:43:52 GMT -6
A good assessment of former Treasury Secretary John Snow can be found in an article from Slate.com, titled Snow Job by Daniel Gross. Below is an excerpt from the article from December 10, 2002.
"Snow's record in business bears more resemblance to that of George W. Bush, marked by poor market performance and outsized compensation. In fact, like Vice President Dick Cheney, Defense Secretary Donald Rumsfeld, and OMB Director Mitch Daniels Jr., Snow is a skilled bureaucratic operator who sidled to the top level of a large company from government posts. As a rule, these access capitalists are prized not for their business acumen but for their ability to open doors in Washington and foreign capitals. They work primarily in highly regulated industries or in ones that depend largely on government contracts for their sustenance: defense, pharmaceuticals, oil, and, in Snow's case, railroads.
Snow worked as a Washington lawyer and then held legal posts in the Nixon and Ford administrations. His first corporate job was as a lobbyist for the Chessie Systems Inc., in 1977, which ultimately turned into CSX. It was good initial training for Snow, who rose through the ranks. For in this highly regulated business, the CEO's post is essentially that of a glorified (albeit higher paid) lobbyist. The primary means of warding off competition isn't providing better service at better prices: It's obtaining favorable rulings from regulatory agencies.
When Snow took charge of CSX, it owned a range of business unrelated to railroads. He divested most of them but held on to one seemingly noncore asset: the Greenbrier resort in West Virginia. Snow loves golf—he's ranked No. 40 on Golf Digest's list of duffer CEOs and was, until recently, a member at Augusta National. But that's not why he kept the Greenbrier. The resort, within easy driving distance of the Capitol, is the discreet retreat of choice for lobbyists and members of Congress. Snow became known, in part, for holding seminars—read: junkets—for Washington players. By doling out access to the greens and access to the green—CSX has made more than $1 million in political donations in each of the last four election cycles—Snow made CSX a Washington player.
As a businessman, however, Snow was mostly a bust. He successfully lobbied to have CSX gain a huge chunk of Conrail but then botched the execution of the merger. He also managed to have Washington block a merger of the Burlington Northern Santa Fe Corp. and Canadian National Railway Co. and forestalled efforts by freight customers to obtain better bargaining terms....
Snow is leaving the company with more debt than it has had at any time in the past seven years. Today (2002) CSX has difficulty generating sufficient cash to meet all its obligations. And this is the man President Bush has hired to manage the nation's debt? As Jesse Eisinger sharply notes in today's Wall Street Journal: "Mr. Snow is clearly a guy who understands deficit spending."
Snow was also a champ when it came to executive compensation. In 12 years, as CSX shareholders experienced minimal returns, Snow took home at least $50 million. In 1996, he borrowed $25 million in company funds to buy stock. But when shares fell sharply, the company undid the loan in 2000. (So much for risk-taking.) Last year, when CSX underperformed all its railroad peers, he was paid $10.1 million. And he's not done. As the company's most recent proxy reads: "Mr. Snow will be provided with certain employee benefits and perquisites including office space and secretarial support, maintenance of country club memberships, executive physicals, discounts at The Greenbrier, and use of private aircraft for the remainder of his life."
Snow may yet prove a brilliant treasury secretary. After all, the skills required are as much diplomatic and bureaucratic as they are managerial. But his elevation to the high-profile post... shows the relative ascendancy of the access capitalists in the Bush administration and in the Republican Party generally. That may be why the markets regard the recent appointments as one step forward, two steps back."
from: The Declaration of Independence: "all Men are...endowed by their Creator with certain unalienable Rights... to secure these Rights, Governments are instituted... whenever any Form of Government becomes destructive of these Ends, it is the Right of the People to alter or abolish it"
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