Showing posts from September, 2011


Click here: The Virginia Gazette, Williamsburg Virginia > News > ESSAY: Is Solyndra deal a fraud?

No news for some of you. Thanks to those who helped. Since we wrote this, there has been some information creeping out re "going concern opinion." Randy McC provided information to support my position. There will now be a different focus on this case, I believe.....hope. However, it won't take with many who don't want to be informed.


I wrote this piece more than a year ago in response to a writer who trivialized the immigration problem. Today, people are finally talking about "war on the border."

Immigration has become one of the major problems facing America. And, no longer can it be divorced from terrorism. Immigration is no longer a matter of the innocent Hispanic coming across the border for a job and a better life. It is much more complex than that. The political left wants amnesty and the voter bloc, the right focuses on walls and deportation. Both are wrong!

Illegal immigration, statutorily a misdemeanor, has become a major criminal issue because of drug and human trafficking and must be dealt with as such. Now there is a terrorist component that elevates it to a national security problem. Gangs are trivialized by a writer to whom I am responding! Has he no knowledge of the El Salvadoran Mara Salvatrucha (MS-13) or the Mexican Mafia (“M”)?  TERRORISM? Yes! Middle Easterners pay huge amounts of money…


While being awake much of the night, I couldn't relieve my mind of the image of President Obama's speech to the Congressional Black Caucus. Then it was replayed 1st thing this morning. It even eclipsed others such as his speech to students and his "If you love me...... plea. We, as mature and fair adults, can disagree with the philosophies and policies of Presidents and other government officials, but it is the American way to respect leaders. Key word is "leaders." But, we expect STATESMANSHIP even in disagreement. I asked a friend of the liberal persuasion a few days ago, "where have all the statesmen gone?" "Leaders?" We agreed there are few, perhaps none today.
I've traveled the globe and can assure you that people in foreign lands do not understand, nor do they respect, such a spectacle as the "Leader of the Free World" conducting himself as the president did with the CBC. Believe me, they see it immediately. If you doubt m…


Morgan Freeman is a fool for thinking objections to Obama's policies are racism-derived. We've discussed the idiocy of this assertion in earlier blogs.
However, Freeman gave a quote from Senate Minority Leader, Mitch McConnell, that I have railed about since I first heard it.  You'll remember his foolish (in fact, dumber than dirt!) comment that "Our goal is to make Obama a one-term president." Those who know me know that I have been on a rampage over how our people present themselves, the language they use and more. NO, I'm not justifying Freeman's idiocy, but I am also critical of the lack of wisdom of McConnell and those who spout off accordingly.
This one sounds innocuous to those who ignore the media and do not understand the arts and science (I mean the disingenuous nature) of politics these days. But, such sound bites always have a life of their own......long lives normally. The media make it so.


Finally, it is being reported that Solyndra had a an auditor's negative "going concern" at least two weeks before Obama made his speech at the company headquarters. Still nobody is focusing on all of those who should be investigated. Why weren't reporters seeking this information day one??
Megan Kelly on Fox News just asked a financial consultant, who blew the whistle on "going concern" if he was and "anti-Obama person." How incredibly stupid and leading can a question be? Misleading! And, she is normally one of the better ones. Dumb today.
It is still likely that this issue will just go away and the "green folly" will go on,


NEA General Counsel Bob Chanin 2009 - It's Money & Power, Not 
As I listen to "President" OBAMA'S speeches to the Congressional Black Caucus demanding they get behind him, or his telling young people that "if they love him, support him," or his speech in front of the bridge that will fall if not given stimulus funds now ....... and more carnival barker type speeches, I am appalled, even though I expected little positive from him when I came out of retirement to go against him in 2008. And, I realize he will spend whatever amount of taxpayer money he wants to campaign for the next 14 months appealing to his base. I can understand the dependent class that doesn't work and never will, but there are some voter blocks that should be concerned about the decline of America that Obama is now accelerating rapidly, yet they are more committed to the "D," to their prejudices, and their power than to the nation. I think of colleges that have become ha…


As Solyndra's executives take the 5th and essentially transform a congressional hearing into a trial-like event, what immunizes Obama, as the chief promoter of stimulus funds to such projects, from being questioned? Surely, his advisers, VP Biden,  and DOE staff who made the decisions to grant $0.5 Billion to a failing company should be questioned.
Clearly, the Obama people did not make a decision based on sound financials. Political? Sure! Deny it if you like, but it is foolish to do so.
Also, it is ludicrous to make the argument that it all started under Bush. Is there no integrity in this administration or its acolytes? Available information says Bush administration officials recommended against granting the funds. What's new? Dishonesty abounds. It's also nothing less than repulsive to blame China, an obvious play on the weak-minded people who don't think for themselves or those who won't get real information from which to make decisions. Oh, but this is a majo…



I've just read The DP piece on Solyndra from Tribune's Washington Bureau. With all due respect, I find it says nothing to inform readers of anything new or anything that is definitive. No analytical assessment of viability of Solyndra...... a necessary piece of information to invest money from any source. The operative issue of a "going concern" opinion from auditors is, again, ignored.
Also while the article in the link below has meaningful information re "going concern," a lawyer makes a compelling argument against viability using "burn rate" and other financials, even though he doesn't use the information very well. Using the numbers in the article suggests that Solyndra would have been declared nonviable by any objective analyst.This is a mess..............but more importantly, it may be an indicator of more boondoggles. Never did I think that, in my lifetime, I'd see peop…


Today has rapidly become a day of frustration. Come to think of it, most days are now. I see and hear the president giving a rousing "campaign speech" on the jobs bill to the congressional black caucus, again saying nothing but saying it very dynamically. Many will love it and will vote for him again simply for that trait. Then I do my thing on the computer websites and each site I bring up has an ad for "The American Jobs Bill".... that isn't about jobs at all. Then I read economist Marc Gandi's projection that the "Jobs Bill" will produce 1.9 million jobs, but with absolutely no proof of how! I read that 14 million jobs are needed and am reminded that I used the exact same number in a speech a week ago and the audience looked skeptical, but didn't challenge me. Then, I read more on Zandi's "proclamation" and it says that ...... whoa, "jobs will be temporary for a year." Seems I wrote about that in this blog space and …


This link is provided by Randy of CA, a friend from high school days, and a "thinking person." The "going concern" issue, to me, is the key to establishing the fraud in this scandal. There will, undoubtedly, be a big effort to minimize it, even cover it up, but we can only hope that the Solyndra affair is totally revealed for what it is and that it may lead to cleaning up more of the corruption that we know is in our government today.

The question, in my mind anyway, is "how many people really care?"


As promised, I will comment on the SOLYNDRA SCANDAL, yes scandal. In all likelihood, you've seen and heard the news stories, most of which are ignoring the obvious and some are simply shilling to obviate any claims of scandal to cover for the Obama administration. Huffington Post AOL News, the MSNBC if the internet, incredibly bills the situation as “FULL OF SOUND AND FURY SIGNIFYING NOTHING.” They declare that $535 million out of a total of $39 Billion committed for so-called “green energy” is insignificant. They must be kidding! But they're not!This is a part of the media I wrote of in the analysis of Obama's reelection dynamics that will do anything to get him reelected. AOL paid $310M for this junk journalism! $535 million is a huge amount of money and only fools would minimize the magnitude and importance of it.
Chicago Tribune's John Kass says "it smells of Chicago City Hall with more zeros." He gets it right, but doesn't get the whole essence of it…


In a previous post, I suggested that referring to the administration's Socialist policies as European Socialism should be avoided. Many people, who have not experienced the reality of today's Europe, reflexively think that anything European is romantic and superior to America. These people have no idea about ravages of socialism in Europe. Multiculturalism has contributed additional societal and economic degradation. As one who has spent much time in Europe and worked with people in most nations, I find the Europe I once admired is now tragically in an advanced stage of cultural and economic decay. A visit to Versailles or Leeds/Manchester and more will open eyes. The link below out of The WSJ today is revealing. Even non-subscribers to WSJ should be able to access it once.
Special note: In the 80s and 90s, even German companies, my competitors, sought to represent my products in Germany because they "could not run a 3rd shift" [with native workers]. Their vaunted wo…


OBAMA – REELECTION DYNAMICS While polls and commentary indicate that President Obama's reelection prospects are in jeopardy, there are factors that must be considered, but seemingly aren't, in any analysis of the reelection dynamics. In my opinion, some of his advantages are “fixed” with little probability for change. However, some of his advantages can be minimized with correct strategies. The 2012 election will be the most momentous one since 1860. The essence of “traditional America” is at stake. She is in critical condition. THE GENERAL ELECTORATE: About 30-32% will vote for any candidate with a D behind his/her name. Witness Alvin Greene (D), with absolutely no qualifications, in South Carolina in the last senatorial election. Many will simply respond to talking points provided to them. I see it in spades in our area. These voters don't look for qualifications. Obama is an example. It's not too far-fetched to say this group would vote for a two-towed sloth …


Click here: Chi Trib Columnist: Hillary Should Replace Obama I sent The Tribune papers my request for Obama to "make major changes, including not running in 2012, or resign now"! They didn't publish my letter to Obama, but they think the same way I do/did. Maybe I catalyzed their thinking. The Washington Post did that to me a couple of years, after inviting  me to write a competitive piece -- not honest brokers, these people. However, The Tribune goes a step beyond in proposing Hillary Clinton. I've seen and heard enough of Hillary!


Regarding the post on use of words and phrases to conceal true meanings, definitions and intent, how about "THE AMERICAN JOBS ACT" that hasn't a prayer to create the jobs needed? And, the "President" knows it, but hopes the economy will grow and cover for him. No problema! If he gets congressional approval, and the economy doesn't recover, he will have gotten the tax increases he wants.
I was surprised by a statement attributed to Larry Summers saying the economic team was "home alone" with no adult supervision....[from the president.] What a dysfunctional administration, and it was all predictable in 2008.


As I prepare to write about Solyndra, LightSquared and other fraud, I am reminded of the ever-increasing use of words and phrases to cover true meanings. Coincidentally, as I write, a reporter is talking about the Solyndra scandal, that isn't, of course, a scandal at all. She calls it "crony capitalism." It so happens this would have been my first example. In fact, it is a scandal and fraud of enormous proportions. It's a payoff! Can any of you readers comprehend how a company can "burn" $0.5+ Billion of taxpayer money in about two years.....and get nothing for it except bankruptcy?? "Burn rate" is a term brought to prominence in the dot com boom of the 90s when billions of dollars were "burned" to yield nothing.
A few know what "crony capitalism" means, but do the masses? Call it what it is. Fraud!
Then there is the ever-increasing evidence that Obama, and those surrounding him, have a socialist orientation. I suppose I was th…


We are being bombarded (brainwashed?) by the claim that Obama cannot get opponents to "COMPROMISE."
Think about this. With some issues compromise may be appropriate. But, with most issues, absolutes of right and wrong, good and bad should prevail. Curtailing the massive spending beyond the capability of the national economy to provide jobs and commensurate tax revenue, with life-threatening indebtedness the result, is not an issue amenable to compromise. Think of it as two people in an automobile speeding toward a cliff, the driver going ever faster and the passenger urging to STOP! Driver says, "no deal, I'm going 100." Passenger has two options. Take control of the automobile or "compromise." So, they compromise to 50 mph ----- and die but more slowly. Such is the US budget and debt situation. Compromise is a false choice at best. When will Obama and his compliant congress, voters, pundits and others learn? There's no evidence they will.


The more I see President Obama, the narcissistic showman, the more obvious it is just how far “over his head” and how detached from reality he is – not a leader at all, rather Campaigner-in-Chief. As he campaigns under the auspices of promoting his “jobs bill” spending taxpayer money, it is reminiscent of his empty, but forceful, rhetoric of 2008 – the one trait that got him elected by a non-discerning electorate (trying to be kind here). His comment to an audience of young people recently, “if you love me ….. pass this bill” was the worst of narcissism and immaturity – totally absent presidential character, which has become the norm. Of course, the bad news is that so many non-discerning voters will admire him only for his rhetorical performance with total disregard for the emptiness of the rhetoric. That's what such a large part of our population, such a large voting bloc, has become. It's this part of the population that allows a person with nothing to define him to be elec…


Click here: Carville to Obama: Panic Never thought I would agree with Carville. Amazing how people can turn when they are outside the loop of power.  Carville's suggestions are similar to mine in post of August 25 asking Obama to make changes or resign. Carville stops short, however, by not declaring that all czars and other appointed heads of agencies and special functions should be fired. This won't happen, of course, but if there was more publicity regarding the recommendations, perhaps it would get attention of some people. But, I forget again that a big percentage of his voting blocks don't give a hoot and another portion will vote for anyone with a D behind his/her name.....even a Two-Toed Sloth. I can see the billing now.....2TSloth(D). Bob Beckel, Alan Colmes, Leslie Marshall, Debbie Wassermann Shultz and other shills would explain how old 2T is not a real sloth, rather a "BRILLIANT" progressive masquerading. More and more I realize that "brilliance&…


Click here: Dan Senor: Why Obama Is Losing the Jewish Vote - The vote to replace Anthony Wiener with Turner in NY along with this op-ed suggests that my opinion about the Jewish vote continuing to be for Obama may be questionable. I'll have to see the results of a presidential vote to believe it. However, an interesting number in this op-ed showing 64% of typical Jewish contributors giving to Obama comports with what a Jewish friend told me was a recent poll showing 67% of Jews favoring Obama. Senor does what all writers should do...give facts for justification of opinions. The left almost never uses real hard facts, I have learned disappointingly. Obama is both abjectly ignorant, as his comments show, and biased against Israel in spite of his apologists downplaying it. The man is so ignorant on so many levels!!!


The story of Obama the NLRB and Boeing is not a new story, but each time I hear an acolyte, apologist, shill or just an ignorant person (Leslie Marshall most recently) try to defend NLRB's position in trying to deny Boeing the right too operate their manufacturing plant in South Carolina, I find it incomprehensible. That is, except for the fact that I have learned to expect the worst from this administration. The incomprehensible had now become the expected!
How can anyone be so stupid, if not stupid then dishonest, to say his major focus is to create jobs and concurrently  have a goal to increase exports by 50% by 2015 and have his shill (Craig) in the NLRB prevent operations of an airplane plant that would employ 3,800 now and more later??? Our major exports are airplanes. It's even worse when they also rant about China when China is likely to be a big competitor in building airplanes. Yes, Mr. President, it is entirely possible that you are setting up China to help them do …


Click here: Obama Proposes $467 Billion in New Taxes, Close Loopholes Can someone explain to me the logic of Republicans not calling Warren Buffett's bluff and force Obama to tailor his tax plan to satisfy the claims of Buffett and other of his shills? Of course, it may be that they think they must stonewall the whole deal with no confidence they can control the scope of the bill. May be true, but their claims of thwarting job creation by taxing Buffett-like characters is not convincing. I think the should take the issue aggressively to Obama and make him feel the tip of the spear as much as possible.  Help me understand!
Also, is anyone else as angry as I am that no news agency is focusing on the illegitimacy and arrogance of Obama's frequent demand of Congress to "pass this bill" when there is no bill. Is it now so that healthcare, a la Pelosi, is a model for passing a bill so we can find out what is in it?

SEPTEMBER 11, 2001

It was a beautiful September morning in Guadalajara, Jalisco, Mexico, as it was in New York. I had enjoyed my favorite Mexican breakfast, machaca nortena (eggs & dried beef, jalapenos, more) and papaya. I bade adios to the smiling breakfast cook and waiter, both of whom always made me feel it was very important to serve me. I checked out of the hotel, chatted with the friendly manager, who asked me if I'd return in one week as usual. No, maybe two to three weeks. After going home, I had to go to Scotland to negotiate a contract with SGL Carbon to convert Mann Industries-Grupo Cydsa carbon fiber precursor into carbon fiber for aircraft brakes. Our recent work had been very successful, the outlook positive. The day was good! Until I entered the waiting car and my driver/engineer said a “small plane had hit a New York Trade Center tower”. Soon, as we drove the 25 minutes to our office and factory, another plane hit the building. I said…


I just heard Donal Trump explaining what he would do as a business expert to deal with China. He would implement a "TAX OF 41% ON ALL GOODS FROM CHINA. Sounds to me like he is still running for president. A 3rd party candidate?? A tax on China always sounds good to a certain segment of the population, BUT PLEASE THINK ABOUT THE CONSEQUENCES.
ALL OF SUCH GOODS WOULD IMMEDIATELY BE PRICED UPWARD ACCORDINGLY. Suddenly Americans will pay 41% more for much of what they consume. In TRUMP's world he must not know that we no longer make these goods to substitute for imports.
Does Trump not know how painful such a move was under FDR or does he think it is, as a relative of mine does, that the thought is "conservative boiler plate." It surely isn't. It is simply a bit of truth....hard to find today.
Does Trump not know also that there are models for such tariffs and the effects on national economies.
Once again, another political statement to confuse those who apparently …


Click here: Economists Give Thumbs Up to Obama Jobs Plan - DailyFinance  You may have to put this in your browser to access it. It's interesting, but frustrating, to read headlines and hear assertions on radio and TV that Obama's plan "may" produce thousands of jobs by 2012. AP just reported probability of 100s of thousands of jobs being created. The link above quotes some never-heard-of economists along with Mark Zandi of Moody's Analytics, always a wild card for the administration.  While the headline of the Daily Finance article is "thumbs up," the most telling comment is found buried 1/2 in..... jobs created might be temporary. Really??? No surprise here. Could they be just long lived enough to get through 2012? Or, hyped enough to get through the election. For those who don't know Daily Finance, it is umbillically linked to Huffington Post which is now owned by AOL. I sincerely wish I could see the Obama administration differently. Our quality of…


This morning, I reflected on my thoughts posted immediately after the president's speech. I thought I had missed the essence of it, the underpinning that would make it successful. NO. While I didn't express my ideas as well as I could have, I stand by them, even after reviewing more details of the proposed spending. While there may be some short term job benefit from parts of the "plan," it's impossible to reconcile (or even rationalize) the notion that it will create lasting jobs. So, as discussed earlier, absent a strategy to solve the economy's structural problems and with no vision for restructuring and regenerating the ailing segments, what is the end game of this stimulus...yes stimulus? How does temporary stimulus lead to permanent job creation and GDP growth??? FDR had WWII, IKE had a growing after-war economy (with a little blip), but what do we have now?? TODAY'S NEWS FROM BANK OF AMERICA IS A GOOD METAPHOR. B of A plans a reduction of 40,000 mo…


Who among us can articulate the "jobs plan" step by step, point by point? I can't. I must characterize the event as a stage show, fairly well choreographed. Obama's speech was campaigning in his most blatant form. I would call it another well-delivered speech, a la 3 years ago in the first campaign. Yet, in typical Obama form, it shows no substance and no understanding of how to deal with the problem. Yes, I heard the assertions and heard the condescending demands and I saw the finger pointing and body language. But, it was absolutely not what any competent CEO would do or say without giving a specific outline of actions and projected benefits. Pure politics!
This was supposed to be a plan to "create jobs,"  which government cannot do. They can, however, do a lot of harm, which they have already done.
The focus is, as it has been, on small business. Normally this would be appropriate. BUT, THE OPERATIVE QUESTION FOR EVERYONE IS "HOW LONG WILL IT TAKE F…


Recently I wrote in another venue of the age-old axiom that many of us learned in our youth that "we are defined [characterized] by those with whom we associate. This is still true, but is being ignored by too many. I wrote (and railed, I suppose) about this as related to Obama before the 2008 election. It didn't matter with far too many people, some expected, others quite surprising. As I worked with McCain in 2008, I was dismayed that he and his campaign were loathe to deal with this. A personal conversation I had with Lindsay Graham revealed the reason. They were afraid of the race issue. So, Rev. Wright and anti-Americanism was off the table, as were others such as Ayers. As I watched Valerie Jarrett represent the administration on TV this morning re jobs and the economy, and as I still cringe at James Hoffa's presentation this week, even VP Biden's remarks, I am vividly reminded of this axiom. It is so true, yet so ignored!
Recently, to a person who refused to ac…


Click here: Fed Prepares to Act - This link is The WSJ's front page lead  today. Chairman Bernanke and The Fed are out of ideas and out of ammunition. They are scrambling and will be tackled behind the line of scrimmage - again. If they understand the current economy, and they surely should, there is little evidence of it. Their adherence to Keynesian theory has failed miserably. Even if we stretch reality and give Keynesian theory a bit of credit, although little success has been had in the world, the Fed's and the Administration misapplied the theory. Stimulus funds were misspent from the git-go. Of course, if you listen only to Keynesian high priests such as Paul Krugman or Alan Blinder you will never hear this truth. In fact, TRUTH can legitimately be said to be rare today in any discourse about America's national condition. She is critically ill as I've said in other writes. It is true. We are very likely to hear the president speak tonight about spending o…


At times I question myself as to why I'm, at this stage of my life, expending time and energy dealing with politics and politicians. Then, as if on cue, Obama or Biden speak or their talking heads spout the spin, the talking points, most of which are nonsensical, illogical and against all that America and Americans have been...... that created a great nation. Today, Obama's tacit approval of James Hoffa's, no class (yes he skipped right over low class) call for the SOB's who question government (Obama ) policy to be "taken out" is beyond unspeakable. His using a union backdrop for advance condemnation of Congress (read opponents here) if they don't agree with his so-called jobs plan, obviously with the narcissistic thought that it is HIS plan and must be supported, goes way beyond the pale and is utterly absent any presidential character. In my lifetime, I have seen no president, and few lesser officials, with such low class and dishonesty.
Hoffa, is at t…


Click here: Goldman Sachs Report Warns of New Financial Crisis -- It seems even this Obamaite has found some truth confirming the adage that "even a blind pig can root out an acorn" occasionally.
Goldman Sachs is but one of the many (most) money center banks and investment bankers on Wall Street that have been very deep into Democratic politics, most recently in funding and supporting Obama. GS gave 80% of their political donations, nearly $5 million, to Obama in 2008. This company has long been very involved in the federal government, to the extent that in the industry there was a phrase, "government according to Sachs." Much of the commentary from the Obama administration about reigning in Wall Street is phoney and meant to confuse and mislead those who don't know the way Wall Street really operates. The administration's rhetoric is all a part of class warfare and subterfuge. Most people don't know that 80% of Wall Streeters have traditionally support…


On this day, called Labor Day, it is entirely appropriate to celebrate those who work -- laborers, or whatever the job description of workers may be. Unfortunately, however, the day has become celebratory of "organized labor, " the UNIONS, and not the individual workers. True! Those of us who have spent careers in the arena where unions operate know quite well that UNIONS have become big business and political machines. They use their members for funding to support politicians, almost all Democrats. While some, perhaps many, will roil when I say that trade unions have done more to destroy industries and their members' jobs than most know, it's true. It happened with coal (until it's partial rebirth), steel, Detroit autos (losing to non-UAW southern operations), textiles, shoes and more. Teachers' unions have done much to contribute to poor results in our education system. I could say much more, and will do so in a comprehensive treatise on unions in coming da…


This post is prompted by Randy's comment to the original. Randy, first I want to thank you sincerely for your comments. I'm sincere when I ask for feedback and commentary. THX.

As for the Debt-to-GDP ratio, finally more people are reporting the true numbers. When I first drew attention the issue, even our governor, a friend, was quoting 64%. As I reported, the real debt:GDP when GDP was ~$14 trillion was 100%. Most recent estimate of GDP is closer $15 trillion, so the ratio is a bit less than 1:1. But, the new debt ceiling will rapidly take it to >100%....can't win!

The difference in what is quoted as 64-70% is essentially the "debt owed to ourselves" mostly IOUs in the SS trust fund. These are monies already owed by statute, and is money collected but diverted as loans (bonds on the balance sheet) into the general fund. The only way to discount this amount (~$5+ trillion) is to declare it won't be paid to current recipients or it will be monetized away....n…


Advance publicity suggests President Obama will present, on September 7, a program for infrastructure improvements. At best, this will be a temporary taxpayer-funded stimulant. It may win political points but will not be a solution to economic problems and sustained job creation. Structural problems in the economy preclude growth in jobs and GDP necessary to satisfy the voracious appetite of Obama and Democrats for taxes. Republicans' calls for targeted tax reduction aren't adequate either. No one indicates an understanding of the real nature of the economy today and the collapse of 2008. They blindly use the same metrics as in past business cycles that don't apply today. Past recessions in the “old” economy, had two factors in common. Energy prices and interest rates put pressure on consumers and/or businesses. Manufacturing was a major component of GDP. Recessions were initiated either by consumers curtailing consumption or businesses reducing capital expenditures. Inven…