Posts Tagged ‘10 Million’

Sorry Unions: Wal-Mart Reports Record Black Friday Sales

by Doug Powers on Saturday, November 24th, 2012

This is article 169 of 191 in the topic Marches/Protests/Riots

The unions tried to disrupt things, but it looks like that effort will fail big time:

After opening earlier than in previous Thanksgiving weekends, Wal-Mart reported its “best ever Black Friday” sales, including bigger crowds than last year, the company said Friday.

The retailer rolled out deals starting at 8 p.m. on Thanksgiving Day. From 8 p.m. to midnight, Wal-Mart processed nearly 10 million register transactions, handling 5,000 items a second, the company said. More than 22 million shopped in Wal-Mart’s stores during the four-hour period.

Last year, the chain opened at 10 p.m.

More than 1.3 million employees are staffing the holiday weekend, Wal-Mart U.S. chief executive Bill Simon said in a statement.

Protesters made an effort though. I can’t help but wonder if the union sent those protesters out to picket in favor of a “living wage” while paying them minimum wage and offering zero benefits. They’ve been known to do that. Look for the union irony label.

I guess one thing Big Labor can consider a resounding success is this: Nobody was able to buy Twinkies at Wal-Mart today. That’ll teach ‘em!

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Obama Gives Shout-Out to Fundraiser Organizer/Gay Porn Kingpin (Not Necessarily in That Order)

by Doug Powers on Wednesday, July 25th, 2012

This is article 685 of 1004 in the topic Obama

Here’s President A Lot On His Plate yesterday thanking a guy named Terry Bean for organizing a fundraiser in Portland, Oregon:

A little background on Bean from 2008:

ONE of the “bundlers” who has raised $50,000 to $100,000 for the Barack Obama presidential campaign is Terrence Bean, who once controlled the biggest producer of gay porn in America.

Bean, the first gay on Sen. Obama’s National Finance Committee, is the sole trustee of the Charles M. Holmes Foundation, which owned Falcon Studios, Jock Studios and Mustang Studios, the producers of about $10 million worth of all-male pornography a year.

None of this is a surprise. After all, we’re talking about the first gay president.

I’ve since heard that the president managed to alienate Bean because after the fundraiser Obama reminded him “you didn’t make that gay porno — somebody else made that happen!”

By the way, there’s no truth to the rumor that after the fundraiser the audience was treated to a screening of the movies “Oceans Eleven and a Half,” “The Sands of Fire Island” and “Cliff Banger.”

(h/t Treacher)

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‘L Prize’ winning light bulb hits store shelves Sunday

by Doug Powers on Wednesday, April 18th, 2012

This is article 173 of 264 in the topic energy

Last month we talked about the company that won the “L Prize” in the 60 watt replacement bulb category. This particular prize, awarded by the Department of Energy, is where taxpayers gave $10 million to the company that could develop a money and energy saving product that, as it turns out, is going to initially sell for around $50 per bulb. Somehow this all saves the taxpaying public money.

The winning bulb will be available on Earth Day:

How much would you pay for an amazing, state-of-the-art light bulb? Shoppers will be asking themselves that very question at Home Depot and other outlets starting Sunday — Earth Day — when the bulb that won a $10 million government contest goes on sale.

The bulb is the most energy-efficient yet, lasts about 20 years and is supposed to give off a pleasing, natural-looking light. But what separates it from the pack most is the price: $60.

That price reflects the cost of the components, especially the top-notch chips, or diodes, that give off the light, and is the price commercial customers will pay. But the manufacturer, Netherlands-based Philips, is discounting it right away to $50 for consumers, and working on deals with electric utilities to discount it even further, by as much as $20 to $30.

This means the bulb will cost anywhere from $20 to $60, depending on where it’s found. Online, consumers will be paying $50 for each bulb, because utilities don’t subsidize online sales.

According to the Department of Energy and Philips, at four hours of use per day, the award-winning bulb will last 20 years — a claim I’ll believe after somebody uses one for 20 years. The DOE also said their $38.6 billion “green” loan programs would “create or save” over 60,000 jobs when the actual number is a fraction of that, so pardon my skepticism about the alleged life span of DOE promoted light bulbs. If Al Gore refers to me as a “green bulb denier,” so be it.

What helped Philips win the $10 million L Prize? The best bulb? Definitely — but it was hard not to have the best bulb in this category given the fact that no other company submitted a product for DOE review.

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More on Warren Buffett’s delinquent taxes

by John Lott on Tuesday, March 13th, 2012

This is article 142 of 307 in the topic Taxation/IRS

From Bloomberg:

NetJets Inc., the private-plane company owned by Warren Buffett’s Berkshire Hathaway Inc. (BRK/A), was countersued by the U.S. over $366 million in taxes and penalties.
NetJets in November sued the U.S., saying the federal government had wrongly imposed taxes, interest and penalties totaling more than $642.7 million.
Claiming the federal Internal Revenue Service wrongfully assessed a so-called ticket tax — an excise tax on payments made in exchange for air transportation — to private aircraft owners maintaining their own planes, the Columbus, Ohio-based company demanded refunds and abatements.
The federal government, in a revised answer and countersuit filed yesterday in federal court in Columbus, rejected NetJets’ claims and alleged that four of the company’s units owe unpaid taxes and penalties.
NetJets Aviation Inc. owes more than $302.1 million, and another unit, NetJets International, is liable for $52.9 million, the U.S. said. Executive Jet Management Inc. owes $10 million while NetJets Large Aircraft owes $1.19 million, the U.S. claimed. . . .

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Longest time to getting back to pre-recovery peak since WWII

by John Lott on Saturday, March 10th, 2012

This is article 60 of 117 in the topic Unemployment
IBD’s take on the “recovery”:

The U.S. economy added 227,000 jobs in February vs. expectations for 206,000, continuing a recent trend of decent hiring activity. The unemployment rate held at 8.3%.

But America remains mired in the longest jobs recession since the Great Depression. It’s been 49 months since the U.S. hit peak employment in January 2008. And with nonfarm payrolls still 5.33 million below their old high, the jobs slump will continue for several more years.

The previous jobs recession record — 47 months — came during and after the comparatively mild 2001 recession, which saw unemployment climb to only 6.3%. The average job recovery time since 1980 is 29 months, not including the current slump.

The labor market won’t truly return to health until some 10 million positions are created to rehire all those who lost their jobs and to absorb new workers. . . .

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Government Subsidized ‘Affordable’ Green Bulb Coming Soon to a Store Near You

by Doug Powers on Saturday, March 10th, 2012

This is article 153 of 264 in the topic energy

Last year, the Department of Energy launched the “L Prize” — a $10 million award to any manufacturer that could come up with a light bulb that was affordable to consumers, but also met certain “green” standards. Philips won the prize. Flashback to last summer:

Philips has just won the DOE’s $10 million L Prize Competition for the creation of a decidedly non-curlicue 60W equivalent LED lighting solution. The company was named the first winner in the 60W replacement bulb category at a Washington DC event, yesterday. It’s taken three years to find a winner that could meet the high standards set forth by the DOE, specifically “ensuring that performance, quality, lifetime, cost, and availability meet expectations for widespread adoption and mass manufacturing.” Requirements further stipulated that the 60W incandescent killer use less than 10 watts of power, and provide energy savings of 83 percent. If Americans replaced all of their 60W incandescents with Philips’ little winner, the DOE estimates savings of $3.9 billion in a single year. The bulb is expected to hit shelves as soon as early 2012.

Wow, that’s quite a savings. Thank goodness the government got involved to make things cheaper.

As the above story promised, the bulb that won the $10 million “green and affordable” DoE prize is becoming available. So just how affordable will the new bulb be?

Energy Secretary Steven Chu said the prize would spur industry to offer the costly bulbs, known as LEDs, at prices “affordable for American families.” There was also a “Buy America” component. Portions of the bulb would have to be made in the United States.

Now the winning bulb is on the market.

The price is $50.

Retailers said the bulb, made by Philips, is likely to be too pricey to have broad appeal. Similar LED bulbs are less than half the cost.
[...]
How the expensive bulb won a $10 million government prize meant to foster energy-efficient affordability is one of the curiosities that arise as the country undergoes a massive, mandated turnover from traditional incandescent lamps to more energy-efficient ones.

The DoE estimated a savings of $3.9 billion in a single year? For the sake of argument, let’s assume all 114 million (or so) in the US households have eight “old school” bulbs in them. If we were to replace them all with the L Prize winner at $50 a bulb, that’s $400 per household. The cost to all households would be almost $46 billion just to buy the new bulbs. And we might as well add to the expense the $10 million in prize money taxpayers are on the hook for in order to pay a company to create light bulbs people either can’t afford or won’t want.

To paraphrase Obi Wan, this is not the savings we’re looking for.

Update: Email from reader Erik S:

I noticed the”savings” mentioned on the topic of the new “green” LED bulbs and I ran afew numbers to add to your computations.

If the overall savings per year was $3.9 Billion for approximately 114 million households, that’s a whopping $34.21 per year, per household. Given your assumption of 8 old-school bulbs, it would still take about 12 years to recoup the initial investment in the bulbs!

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The High Cost Of Liberalism – 10 Million Jobs

by J.J. Jackson on Friday, February 10th, 2012

This is article 52 of 117 in the topic Unemployment

President Barack Obama loves to talk about nebulous concepts while trying to convince Americans that he has been a successful Chief Executive. For example, when discussing the economy he often talks about jobs “saved or created” or how things would have been much worse had he and Congress not spent our grandchildren into crushing debt. Earlier this week I posted on my site a short comment that liberalism has cost America millions of jobs. That immediately drew a barking response from a plethora of moonbats who adore the ground upon which President Obama walks. They demanded I, “prove it.” My response to each was, ok, wait for this week’s article if you are so eager to be shown a fool.

Just last week the Obama Administration proudly proclaimed that in January we added 243,000 new jobs to the economy and the unemployment rate dropped to 8.3%. The facts however are quite different. When you look at the actual, raw data, unadjusted and without being kneaded and massaged, the U.S. economy shed over 2.2 million private sector jobs as seasonal workers from the Christmas shopping season were let go.

You think I am making this up? The source is the Department of the Treasury’s Bureau of the Public Debt; the government itself. So riddle me this bat brains, how can the economy shed nearly 2% of the private sector labor force and the unemployment rate drop by 0.2%? Ah, apparently with Obama all things are possible.

But it gets worse. Those 2.2 million jobs that went poof are just the tip of the iceberg. In fact, liberalism has cost the U.S. economy 10 million private sector jobs since Democrats and Republicans of the liberal persuasion secured power. Then President Obama ascended unto Washington to be the left hand man for liberal ideology. And things got worse. To show how this is reality, all we have to do is look at the numbers; the real numbers of private sector jobs in America. To be kind to liberals, I will even include in the analysis the economic downturn of 2001 and the recession that followed the terrorist attacks of September 11th, 2001. Doing this depresses the trend line of job growth and gives liberals every benefit of the doubt.

Here is the chart:

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Note that I have divided the number of private sector jobs into four segments here to reflect changes in who controls the levers and switches of government in Washington. The data in blue are the month to month private sector jobs under President George Bush and a Republican controlled Congress. The data in pink are the month to month private sector jobs under President George Bush and a Democratic controlled Congress. The data in yellow are a the month to month private sector jobs under President Barak Obama and a Democratic controlled Congress. Finally, the data in light blue are the month to month private sector jobs under President Obama and a split Congress with a do-nothing Democratic Senate and a Republican House of Representatives. The dark blue trend line represents the set of data from 2001 through 2006 while the pink trend line represents the data from 2001 through the end of 2008.

So, what do we see here? In the beginning we see that job growth.

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Americans are better than who Obama thinks we are

by Lloyd Marcus on Wednesday, February 8th, 2012

This is article 19 of 82 in the topic Redistribution of wealth/socialism

Along with their ever-present accusation that anyone who criticizes or disagrees with America’s first black president is a racist, class envy is the centerpiece of Obama’s re-election campaign.

It is extremely disheartening that the president of the United States believes he can win the votes of a majority of Americans by exploiting the sin of covetousness and hatred for the rich. In every speech, Obama claims that the rich are not paying their fair share. Please excuse my frankness, but Obama is lying.

Here are the facts.

Half the country — yes, I said half — do not pay taxes at all. Zero! The majority of federal income taxes (70%) are paid by the top 10 percent of income-earners. http://bit.ly/pgh5Wh As for Obama’s claim that we can solve America’s financial problems by forcing the rich to pay more, it is despicable, manipulative, and hate-inspiring nonsense. There are only 8,000 Americans who earn over 10 million dollars per year. If Obama confiscated all their money, it would finance our government for only 24 days. Then what?

What group of Americans will Obama attack next by trashing and demonizing them to gain public approval to confiscate everything for which they have worked hard, suffered, sacrificed and risked all for “government” redistribution?

Our national debt has tripled since Obama has been in office. Now, I know that that does not mean a lot to most Americans. Well, allow me to put it in perspective. Every minute, we spend 3 million dollars that we do not have, borrowing most of it from China. Every minute! Our debt is bankrupting the future and enslaving our great-great-great-grandkids.

So, you can understand why I find Obama’s rants about the rich not paying enough and how people will die unless Republicans raise the debt ceiling so disingenuous and unsupportable.

But there is a much greater issue at hand. Who does this man (Obama) think, we, the American people, are? The Obama administration and his media minions are trying to convince us that the entitlement-minded OWS lowlifes represent “mainstream Americans.” They are lying.

I represent mainstream Americans. I began working when I was about ten years old. I had a paper route and worked pulling copper out of old motors for my neighbor across the street, Mr. Buddy-Roy, in his backyard. At 15, my dad got me a work permit, and I acquired my first real job during the summer at Park Sign Co. in Baltimore. There I learned how to silk-screen signs.

Interesting sidebar: experience prompted Berry, the owner of Park Sign, to always get his money upfront for political signs, because if the candidate did not win the race, Berry would not get paid.

Back to my point. Like me, most Americans do not believe they are entitled to the fruits of a fellow American’s labor. And yet, this is who Obama thinks we are and desires us to be.

We all remember our classmates who smoked dope, cut classes, and dropped out versus the kids who studied, worked hard, and became doctors. According to Obama, in his “community organizer” way of thinking, the Democratic party, and the Occupiers, the kid who became a doctor is a selfish, greedy rich person who achieved his success on the backs of the poor dope-smoking dropouts.

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Warren Buffett Unsure Exactly What Obama’s ‘Buffett Rule’ Is

by Doug Powers on Saturday, October 1st, 2011

This is article 96 of 307 in the topic Taxation/IRS

Put Warren Buffett in the “for it before he was against it but still doesn’t seem to mind if his name is on it” category:

Billionaire investment guru Warren Buffett, who has become the face of President Obama’s $447 billion jobs-creation legislation, indicated Friday he did not agree with the president’s proposal to raise taxes on millionaires.

Buffett said he advocated a tax hike only on what he termed the “ultra-rich,” making a distinction between his suggestion and Obama’s proposal to raise taxes on millionaires.

“It isn’t [my idea] to have the rich pay more taxes. It’s to have the ultra-rich pay more,” he said on Bloomberg Television Friday.

“It isn’t to have the rich pay more taxes. It’s to have the ultra-rich who are paying very low tax rates pay more taxes. There’s all kinds of ultra-rich who pay normal taxes, but there is a small segment–but you can find them very easily–who pay very low taxes, including me. People who make money with money only pay very low taxes at very high levels of income. … What I’m talking about would probably apply to 50,000 people out of 310 million in the country. … It would simply mean that if you made tens of millions of dollars, and your tax rate was 16 or 17 percent, you would start paying like the person who made $100,000 or $10 million who paid normal tax rates.”

Buffett’s already given the administration the green-light to use his name to push the bill, so now he’s just waiting to **find out what’s in it (**the preceding sentence is Nancy Pelosi approved):

“I will look at the overall plan that gets submitted to Congress, and which they are voting on, and decide net, “do I like it or do I not like it”. There is no question, there will be parts I’ll disagree with.”

And if the whole thing goes south, maybe they can just blame the Buffett Rule on Jimmy Buffett.

Video by way of Weasel Zippers:

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$10 million of Stimulus went to ATF’s Project Gunrunner

by John Lott on Sunday, August 28th, 2011

This is article 268 of 523 in the topic Government Spending

Great use of Stimulus funds. It just shows that the government has a hard time spending money usefully when it makes decisions to spend it quickly. From the ATF website.

The Southwest Border Initiative — ATF’s Project Gunrunner — $10 million

The Administration’s southwest border initiative will reduce cross border drug and weapons trafficking, and the associated high level of violence occurring on the border between the U.S. and Mexico. The primary role of ATF’s Project Gunrunner in support of this initiative is to stem the illegal trafficking of firearms across the border and to reduce the firearms violence occurring on both sides of the border.

$10 million in ARRA funding is hiring 37 ATF employees to open, staff (via new hire and relocation of senior personnel,) equip, and operate new Project Gunrunner criminal enforcement teams in McAllen, TX; El Centro, CA; and Las Cruces, NM (which includes a subordinate satellite office in Roswell, NM.). Additionally, these funds support the assignment of two special agents to each of the U.S. consulates in Juarez and Tijuana, Mexico to provide direct support to Mexican officials on firearms-trafficking-related issues.

By curtailing the availability of firearms to the Mexican drug cartels, ATF will diminish their ability to export drugs to the U.S. In addition, by removing the guns from the cartel’s lethal resources, ATF will directly affect their ability to operate and concurrently suppress the firearms — related violence that occurs on both sides of the southwest border.

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