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kpete

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Member since: Fri Sep 17, 2004, 03:59 PM
Number of posts: 43,753

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RMONEY Loves $$$: Delphi Auto (major Romney investment) buys factories in China after firing 25K US

FRI OCT 26, 2012 AT 12:08 PM PDT
Breaking: Delphi Auto (major Romney investment) buys factories in China after firing 25K US workers
by distraught


October 26, 2012
TROY, Mich. (AP) — Delphi Automotive has completed its acquisition of FCI Group's motorized vehicles unit for 765 million euros ($987.5 million).
http://www.businessweek.com/ap/2012-10-26/delphi-automotive-closes-on-fci-unit-acquisition


is owned by affiliates of Bain Capital.


http://www.businessweek.com/...

AP News
Delphi Automotive closes on FCI unit acquisition
Posted on October 26, 2012 Tweet Facebook LinkedIn Google Plus 0 Comments
More from Businessweek
http://www.businessweek.com/ap/2012-10-26/delphi-automotive-closes-on-fci-unit-acquisition

TROY, Mich. (AP) — Delphi Automotive has completed its acquisition of FCI Group's motorized vehicles unit for 765 million euros ($987.5 million).

The deal, which was announced in May, allows Delphi to expand its global reach and its ability to make electronic connectors for vehicles.

The motorized vehicle business of FCI, which is based in the U.K., makes auto connection systems. It is owned by affiliates of Bain Capital.

Delphi Automotive PLC, based in Troy, Mich., spun off from General Motors Co. in 1999, went into bankruptcy court protection in 2005 and emerged four years later after cutting thousands of jobs and selling factories and businesses.

The company said Friday that it still expects the transaction to add 24 cents per share to its 2013 earnings, excluding acquisition-related costs.

http://www.dailykos.com/story/2012/10/26/1150732/-Breaking-Delphi-Auto-a-Romney-investment-buys-factories-in-China-after-firing-25K-US-workers



As The Nation has reported, Mitt Romney made a fortune off of the auto-bailout by investing in Delphi and screwing those workers.

Delphi’s stockholders—the Romneys included—had one easy way to rectify the harm to these pensioners, much as GM did for its workers: just pay up.

Making good on the full pensions for salaried workers would cost Delphi a one-time charge of less than $1 billion. This year, Delphi was flush with $1.4 billion in cash—
meaning its owners could have made the pensioners whole 
and still cleared a profit. Instead, in May, Delphi chose to use most of those funds to take over auto parts plants in Asia at 
a cost of $972 million—purchased from Bain Capital.

http://www.thenation.com/article/170644/mitt-romneys-bailout-bonanza?page=full#





Adding insult to injury, Delphi even kept Uncle Sam from taxing its profits by moving its location of incorporation from Troy, Michigan to the Isle of Jersey, a European tax haven.
http://www.dailykos.com/story/2012/10/26/1150732/-Breaking-Delphi-Auto-a-Romney-investment-buys-factories-in-China-after-firing-25K-US-workers

Momentum? Bullshit, Mitt. You're boxed into Ohio and you know it.

Obama For America IS "doubling down" in FL, VA and NC.

Last week Romney retreated to Ohio claiming his campaign had locked up NC, VA and FL.

Bullshit, Mitt. You're boxed into Ohio and you know it.

And as a consequence, you can't afford to follow through in FL, VA and NC.

Per David Axelrod, "Anybody who thinks those states are in the bag is half in the bag themselves." He also noted, "We have added millions to TV spending in each of these states. We are doubling down.


polls, links & lots more:
http://www.dailykos.com/story/2012/10/26/1150585/-Obama-IS-doubling-down-in-FL-VA-and-NC


FRI OCT 26, 2012 AT 09:33 AM PDT
Team Obama knows they're WINNING: President up Double Digits among Women in Internal Polls

Forget the public national polls showing Mitt Romney pulling even with Barack Obama among women, according to senior Obama advisers steeped in internal data: Obama enjoys a “strong, double-digit” lead among female voters in battleground states like Ohio.The same holds true in Pennsylvania, where the president remains on “solid” ground, despite several public polls showing a tightening race, according to senior campaign officials.

They also say their secret weapon in Wisconsin — a key to Obama’s Midwest-heavy electoral path — is the state’s same-day registration law, with new voters breaking to Obama by a predicted 2-to-1 margin.

http://www.dailykos.com/story/2012/10/26/1150585/-Obama-IS-doubling-down-in-FL-VA-and-NC




http://www.huffingtonpost.com/2012/10/26/romney-polls_n_2022691.html#slide=more249460

OBAMA To ALL Women: Vote for them at your own peril.

Obama and the Road Ahead: The Rolling Stone Interview

Read more: http://www.rollingstone.com/politics/news/obama-and-the-road-ahead-the-rolling-stone-interview-20121025#ixzz2AQDk1NKw

“Four weeks out from an election, you can't hide from positions that ultimately are out of sync with how the majority of Americans think. I guarantee if you talk to not just Democratic women, but a whole bunch of Republican and Independent women, they will tell you they're very capable of making their own health care decisions. If you have a chance to meet these Dream Act kids, some of whom were brought here when they were two or three or five, and are American in every sense, except for their papers – love this country, have pledged allegiance to this flag, want to contribute – then you would reject the idea that somehow they should be deported to some country where they've never been.

But those are Governor Romney's positions, and we gotta make sure that the American people understand those positions.”

http://www.rollingstone.com/politics/news/obama-and-the-road-ahead-the-rolling-stone-interview-20121025

Obama, Chrysler: Romney's claim of Jeep outsourcing to China is false

Source: Detroit Free Press

Gualberto Ranieri, Chrysler’s vice president of communications, criticized those stories Thursday even before Romney made his comments.

“Let’s set the record straight: Jeep has no intention of shifting production of its Jeep models out of North America to China,” Ranieri said. “It’s simply reviewing the opportunities to return Jeep output to China for the world’s largest auto market. U.S. Jeep assembly lines will continue to stay in operation.”

In fact, Chrysler is investing $500 million at its Toledo North Assembly Plant and plans to add 1,105 new workers by the third quarter of 2013 to build an all-new SUV that will replace the Jeep Liberty.

...............

After Romney’s remarks, the Obama campaign quickly retorted, emailing reporters with the following statement, according to Politico: “As Chrysler said today, ‘Jeep has no intention of shifting production of its Jeep models out of North America to China,’ ” the campaign emailed reporters. “And what’s more: President Obama has fought on behalf of U.S. auto workers by challenging unfair Chinese tariffs on U.S. auto exports to China, including Jeeps, while Romney would have let the American auto industry and a million jobs go under.”

Read more: http://www.freep.com/article/20121026/BUSINESS01/121026036/Obama-Chrysler-Romney-s-claim-of-Jeep-outsourcing-to-China-is-false?odyssey=mod%7Cnewswell%7Ctext%7CFRONTPAGE%7Cp



Jeep in China
by Gualberto Ranieri
October 25, 2012 4:24 PM
There are times when the reading of a newswire report generates storms originated by a biased or predisposed approach.

On Oct. 22, 2012, at 11:10 a.m. ET, the Bloomberg News report “Fiat Says Jeep® Output May Return to China as Demand Rises” stated “Chrysler currently builds all Jeep SUV models at plants in Michigan, Illinois and Ohio. Manley (President and CEO of the Jeep brand) referred to adding Jeep production sites rather than shifting output from North America to China.”

Despite clear and accurate reporting, the take has given birth to a number of stories making readers believe that Chrysler plans to shift all Jeep production to China from North America, and therefore idle assembly lines and U.S. workforce. It is a leap that would be difficult even for professional circus acrobats.

Let’s set the record straight: Jeep has no intention of shifting production of its Jeep models out of North America to China. It’s simply reviewing the opportunities to return Jeep output to China for the world’s largest auto market. U.S. Jeep assembly lines will continue to stay in operation. A careful and unbiased reading of the Bloomberg take would have saved unnecessary fantasies and extravagant comments.

http://blog.chryslerllc.com/blog.do?id=1932&p=entry



The Morning Plum: Romney’s false scare story in Ohio
By Greg Sargent

“I saw a story today that one of the great manufacturers in this state, Jeep — now owned by the Italians — is thinking of moving all production to China,” Romney said at a rally in Defiance, Ohio, home to a General Motors powertrain plant. “I will fight for every good job in America. I’m going to fight to make sure trade is fair, and if it’s fair America will win.”

Romney was apparently responding to reports Thursday on right-leaning blogs that misinterpreted a recent Bloomberg News story earlier this week that said Chrysler, owned by Italian automaker Fiat SpA, is thinking of building Jeeps in China for sale in the Chinese market.


http://www.washingtonpost.com/blogs/plum-line/post/the-morning-plum-romneys-false-scare-story-in-ohio/2012/10/26/5f8edbbc-1f58-11e2-ba31-3083ca97c314_blog.html

Chrysler confirms that Mitt Romney LIED yesterday about them moving production of its Jeep to China

OUCH-Chrysler Rebukes Romney Jeep to China LIE: "A Leap That Would Be Difficult For Circus Acrobats"

Jeep in China
by Gualberto Ranieri
October 25, 2012 4:24 PM
There are times when the reading of a newswire report generates storms originated by a biased or predisposed approach.

On Oct. 22, 2012, at 11:10 a.m. ET, the Bloomberg News report “Fiat Says Jeep® Output May Return to China as Demand Rises” stated “Chrysler currently builds all Jeep SUV models at plants in Michigan, Illinois and Ohio. Manley (President and CEO of the Jeep brand) referred to adding Jeep production sites rather than shifting output from North America to China.”

Despite clear and accurate reporting, the take has given birth to a number of stories making readers believe that Chrysler plans to shift all Jeep production to China from North America, and therefore idle assembly lines and U.S. workforce. It is a leap that would be difficult even for professional circus acrobats.

Let’s set the record straight: Jeep has no intention of shifting production of its Jeep models out of North America to China. It’s simply reviewing the opportunities to return Jeep output to China for the world’s largest auto market. U.S. Jeep assembly lines will continue to stay in operation. A careful and unbiased reading of the Bloomberg take would have saved unnecessary fantasies and extravagant comments.

http://blog.chryslerllc.com/blog.do?id=1932&p=entry

http://www.dailykos.com/story/2012/10/26/1150588/-Chrysler-Rebukes-Romney-Jeep-to-China-Lie-in-Ohio

*********************

Obama, Chrysler: Romney's claim of Jeep outsourcing to China is false
http://www.freep.com/article/20121026/BUSINESS01/121026036/Obama-Chrysler-Romney-s-claim-of-Jeep-outsourcing-to-China-is-false?odyssey=mod%7Cnewswell%7Ctext%7CFRONTPAGE%7Cp

A Ghost, a Witch, a Pirate and a Trump...

Just in case anyone thinks Chuck Todd hasn’t become a full-fledged Villager

Just in case anyone thinks Chuck Todd hasn’t become a full-fledged Villager:

On NBC Today’s “news” portion, Chuck reported that BOTH campaigns had hit “speedbumps”:

Romney’s: Campaign chairman Sununu says n*ggers stick together. Romney won’t comment on Mourdock saying women are rape-ready baby vessels.

Obama’s: Children can tell Mitt Romney is a “bullshitter.”

Well done, Mr. Todd. Here’s your Villagers Card.



http://www.balloon-juice.com/2012/10/26/there-is-no-better-one-word-description-of-mitt-romney-than-bullshitter/#comments

NO-CHOICE: At Least 15 GOP Senate Candidates Oppose Abortion For Rape Victims



read about them here:
http://www.huffingtonpost.com/2012/10/25/richard-mourdock-abortion_n_2018934.html

Mississippi School Charged With Arresting Kids For Flatulence, Wrong Color Socks, Breaking Pencils

Source: Business Insider

Mississippi School Charged With Arresting Kids For Flatulence, Wrong Color Socks, Breaking Pencils
Abby Rogers

The Justice Department is taking a stand against an educational policy in Mississippi that incarcerates kids for just being kids.

The department says in its lawsuit that officials in the city of Meridian and Lauderdale County "routinely arrest students without determining whether there is probable cause when a school wants to press charges, and the students are routinely jailed," The Associated Press reported Wednesday.
Students get in trouble for such minor offenses as wearing the wrong color socks, flatulence in class, and swearing.

But this startling program, dubbed the "school-to-prison pipeline," doesn't seem confined to the deep south.

The American Civil Liberties Union has long been fighting what it calls the "national trend of criminalizing, rather than educating, our nation’s children."



Read more: http://www.businessinsider.com/school-to-prison-pipeline-lawsuits-2012-10#ixzz2APtr2Cn9



http://www.aclu.org/racial-justice/school-prison-pipeline-talking-points

Some Are More Unequal Than Others -by JOSEPH E. STIGLITZ

Some Are More Unequal Than Others
JOSEPH E. STIGLITZ
New York Times’ “Campaign Stops” Blog
October 26, 2012, 12:20 am

This election has rightly been characterized as one that will deeply affect the future direction of the country: Americans are being given a choice with potentially large consequences. One arena in which there are profound differences that has not been adequately debated is the future course of inequality.

Mitt Romney has been explicit: inequality should be talked about only in quiet voices behind closed doors. But with the normally conservative magazine The Economist publishing a special series showing the extremes to which American inequality has grown — joining a growing chorus (of which my book “The Price of Inequality” is an example) arguing that the extremes of American inequality, its nature and origins, are adversely affecting our economy — it is an issue that not even the Republicans can ignore. It is no longer just a moral issue, a question of social justice.

This perhaps provides part of the explanation for why inequality and poverty should suddenly appear as part of the Romney-Ryan makeover, as they attempt to portray themselves (to use a phrase of some 12 years ago) as compassionate conservatives. In Cleveland on Wednesday, Paul Ryan gave a speech that might lead one to conclude that the two Republican candidates were really concerned about poverty. But more revealing than oratory are budget numbers — like those actually contained in the Ryan budget. His budget proposal guts programs that serve those at the bottom, and little could have done more to enrich those at the top than his original tax proposals (like the elimination of capital gains taxes, a position from which he understandably has tried to distance himself). Every other advanced country has recognized the right of everyone to access to health care, and extending access was central to President Obama’s health care reform. Romney and Ryan have criticized that reform, but have said nothing about how or whether they would ensure universal access. Most important, the macroeconomic consequences of the Romney-Ryan economic program would be devastating: growth would slow, unemployment would increase, and just as Americans would need the social protection of government more, the safety net would be weakened.

We’d all do well to pay a bit closer attention. That American inequality is at historic highs is undisputed. It’s not just that the top 1 percent takes in about a fifth of the income, and controls more than a third of the wealth. America also has become the country (among the advanced industrial countries) with the least equality of opportunity. Meanwhile, those in the middle are faring badly, in every dimension, in security, in income, and in wealth — the wealth of the typical household is back to where it was in the 1990s. While the recession has made all of this worse, even before the recession they weren’t faring well: in 2007, the income of the typical family was lower than it was at the end of the last century. While Obama may not have done as much as he should to counteract the steep downturn he inherited from George W. Bush upon taking office — and he underestimated the depth of the problems that had been passed along to him — he did far more than his predecessor. And he could have done far more, as the dimensions of the problem became clearer to everyone, had he not faced such strong opposition in Congress...

................

http://campaignstops.blogs.nytimes.com/2012/10/26/stiglitz-some-are-more-unequal-than-others/
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