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Friday, July 2, 2010

A Look at the BP Oil Disaster Slush Fund

Received this via e-mail forwarded about seven times,....too good not to share.

It seems like a miracle that our beloved leader was able to convince BP to establish a $20 billion slush (oops, escrow) fund to compensate those hurt by the ongoing oil plume in the Gulf of Mexico . After all, he had no constitutional power to force them to do so; so had to resort to Chicago-style negotiating.

But, let us take a closer look at the effect on BP’s finances:

1. BP will establish a $20 billion fund, but will pay only $7 billion into it during 2010.

2. BP is a British corporation, but has a very large operating entity in the US .

3. By Generally Accepted Accounting Principles (GAP), BP must book the entire $20 billion expense in the year accrued. Therefore, they will book a $20 billion expense in 2010, reducing their US tax liability by $7 billion.

4. Our dear leader also convinced this massive corporation to show their concern for the “small people” by withholding dividends to their shareholders for the last 3 quarters of 2010. This reduces their outward cash flow by about $7.5 billion, including approximately 40% of that amount to US citizens. Assuming that the Bush tax cuts will survive through 2010, the US Treasury will lose another $450 million in taxes on that amount. We won’t even discuss the effect on the US economy.

Let us put the results into a table easily understood by the small people:

BP Cash Flow:

o Escrow funding ($7 billion)

o Dividend saving $7.5 billion

o Tax savings $7 billion

o Net favorable cash flow : $7.5 billion


US Treasury Tax Receipts:

o BP Corporate income tax ($7.5 billion)

o BP Shareholders ($0.45 billion)

o Net unfavorable tax receipts ($7.95 billion)

I guess we really should expect this. After all, our dear leader is the most inexperienced man in any room he enters.

Obama on Immigration Reform

Did anyone hear President Obama's speech yesterday on Immigration Reform?

This is the speech where he re-invented history concerning the origins of the Statute of Liberty and equated LEGAL immigrants craning their heads upward to view Lady Liberty, her aura of freedom and opportunity for all, and, her invocation to "give me your poor, tired, huddled masses,..." with the masses of ILLEGAL immigrants spewing across the Southwest border. Furthermore, he downplays the numbers of ILLEGAL immigrants as 11 million, as opposed to the 30 to 60 million number coming from more analytical sources. These numbers are important as more and more Americans are waking up to the fact that an incredible amount of crime, drugs, damage and trash are the product from these ILLEGAL immigrants.

Obama just doesn't get it. The most appropriate title for him now is "Butt Clown in Chief". How dare he equate the LEGAL immigrants from all over the world that gave up all to come to this country just for the individual opportunity to pursue happiness with the current invasion of ILLEGAL Immigrants crossing the Southwest Border leaving piles of trash and human feces, cut fences, trampled grasses AND bringing crime and dope to this country?

And yet, as I write this, he is on Television again. I guess he doesn't understand and we know who and what he is now. He should be hiding his head in shame. He ain't fooling us...I hope the majority of voters in November are not fooled either.

Thursday, July 1, 2010

Maywood, California - Reconquista Example

Boasting a population that is 97% Hispanic, more than half foreign born, and 40% illegal, the Los Angeles County, Calif., incorporated city of Maywood has achieved the Reconquista goal. It is now as lawless and chaotic as any place in Mexico. Maywood is a warning to every city and town in America.

The Maywood City Council announced this week that after years of radical policies, corruption and scandal, the city was broke and all city employees would be laid off and essential city services contracted out to neighboring cities or to L.A. County government.

From from a Roger Hedgecock article, 25 June 2010. Hedgecock is a former Mayor of San Diego, CA.

How did this happen? Until recently, Maywood was the model for "brown power" politics.

Maywood was the first California city with an elected Hispanic City Council, one of the first "sanctuary" cities for illegal aliens, the first city to pass a resolution calling for a boycott of Arizona after that state passed a law to enforce federal immigration laws, the first California city to order its police department not to enforce state laws requiring drivers to have licenses to drive, the first American city to call on Congress to grant amnesty to all illegals.

Council meetings were conducted in Spanish. Maywood was the leader in the peaceful, democratic achievement of the La Raza goal to take power in the U.S.

The City of Maywood started out quite differently. Back after World War II, Maywood was a booming blue-collar town with good jobs, a multi-ethnic suburb of Los Angeles.

On the 25th anniversary in 1949 of Maywood's incorporation as a city, the town celebrated with a beard-growing contest, a rodeo, and wrestling matches in City Park. Chrysler operated an assembly plant there until 1971.

But the early 1970s saw these industrial jobs in aerospace, auto and furniture manufacturing, and food processing evaporate under the pressure of higher taxes, increased local and state regulation, and the attraction of cheaper land and cheaper labor elsewhere.

The multi-ethnic Maywood of the post-war years was transformed in the ’80s and ’90s by wave after wave of Hispanic immigrants, many of them illegal.

In August 2006, a "Save Our State" anti-illegal immigration rally in Maywood drew hundreds of protesters—but a larger number of defenders of illegal immigration. The pro-illegal protesters carried signs which read "We are Indigenous ! The ONLY owners of this Continent!" and "Racist Pilgrims Go Home" and "All Europeans are Illegal Here."

According to newspaper reports at the time, objectors to illegal aliens were subject to physical attacks. A 70-year-old man was "slashed," a woman attacked, and cars vandalized. Pro-illegal demonstrators raised the Mexican flag at the U.S. Post Office.

The illegal population and their sympathizers became increasingly radicalized. Elections to the City Council saw "assimilationist" incumbent Hispanic council members ousted by La Raza supporting radical challengers.

For years, the Maywood City Council authorized police checkpoints to stop drunk driving. Drivers without licenses had their cars impounded. Illegals in California cannot get drivers licenses. By 2005, the number of such impounds were in the hundreds. A community campaign was launched forcing the City Council to suspend the checkpoints.

Cars were still being impounded whenever a police traffic-violation stop resulted in a driver without a license. Felipe Aguirre, a community activist with Comite Pro-Uno, an "immigration service center," coordinated a new campaign against any impounds. He was elected in 2005 to the City Council. He is the mayor of Maywood today.

Aguirre and a new majority of the council dismantled the Traffic Department. Illegals were given overnight-parking permits and impounds stopped. You didn't need a license to drive in Maywood. The Los Angeles Times wrote glowingly of this "progress" in a story entitled "Welcome to Maywood, Where Roads Open Up For Immigrants".

The Maywood Police Department was restructured by the new council. A new chief and new officers were hired. Later it turned out that many of the new officers had previously been fired from other law enforcement agencies for a variety of infractions. The Maywood P.D. was known as the "Department of Second Chances."

Among those hired was a former L.A. Sheriff's deputy terminated for abusing jail inmates; a former LAPD officer fired for intimidating a witness; and an ex-Huntington Park officer charged with negligently discharging a handgun and driving drunk.

Even the L.A. Times called the Maywood Police Department a "haven for misfit cops." Their story alleged that a veteran officer was extorting sex from relatives of a criminal fugitive; that another officer tried to run over the president of the Maywood Police Commission; and that another officer has impregnated a teenage police-explorer scout.

Charges of corruption and favoritism led to one recall of city council members and threats of more recalls are heard to this day.

Maywood is represented in the state Senate by Democrat "One Bill" Gil Cedillo. He earned the nickname by introducing every year in the state legislature a bill to grant drivers licenses to illegals. Maywood is represented in Congress by Democrat Lucille Roybal-Allard, a staunch advocate of amnesty for illegals.

Today, Maywood is broke. Its police department dismantled along with all other city departments and personnel. Only the city council remains and a city manager to manage the contracts with other agencies for city services in Maywood.

Maywood is the warning of what happens when illegal immigrants, resisting assimilation as Americans, bring with their growing numbers the corruption and the radical politics of their home countries. Add the radical home-grown anti-Americanism of Hispanic "leaders" and groups like La Raza and you get schools where learning is replaced with indoctrination, business and jobs replaced by welfare and gangs, and a poisonous stew of entitlement politics.

In too many American communities, this sad tale is all too familiar.