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34 minutes ago.
by slinky
rocker
#1

Daily breaking news and news the liberal media doesn't want you to know, won't report, or just daily news issues.

Americans for many years have had to rely on left leaning biased news reporting from liberal media such as NBC, ABC, and CBS and the New York Times. As most of these outlets struggle to remain on the air and in print, the new media is flourishing and people are hearing both sides of the issues. This forum will provide people with a place to discuss daily news issues of any kind or discuss articles not printed or aired by the liberal news outlets.

 
 

Member Comments

absolem

Mod....read about the abatement deal. Whirlpool cuts the city a check for $300,000.00 yearly until they reach $3.8 million which offsets the abatement minus $71,000.00. The facility that they closed made parts for obsolete product.

Posted 174 days ago.

moderation

And they moved jobs offshore.

Posted 174 days ago.

moderation

They haven't paid taxes since 2008

Posted 174 days ago.

absolem

Moderation.....and?????

Do they not employ people and pay taxes?

Posted 174 days ago.

moderation

absolem- that headquarters is a luxury waterfront community including a golf course. Hmmm.

Posted 174 days ago.

absolem

OWO....great question. It appears that they had JP Morgan managing their pensions. I feel certain that union leaders were aware of the status of the pension programs and the administration thereof. Under the emergency manager, they joined the states pension program. The report of the audit as well as a thorough reading of the emergency managers report reveals a city lead by fools.

Posted 174 days ago.

No Abby , what was the change that caused these people who were in charge of these pensions to blatently risk money that had no business being in the market in the first place ?

Posted 174 days ago.

absolem

An addendum to my post. In 2010 Whirlpool closed a facility in Benton which displaced 216 workers. Now that would affect the city....but it should not have caused the financial calamity they found themselves in.

Posted 174 days ago.

absolem

Moderation....from what I have read...no. Whirlpool actually received a net tax abatement of $71,000.00 in exchange for building a $68 million dollar headquarters in Benton. This is from WNDU television Website. Dated October 18, 2010.

Posted 174 days ago.

absolem

OWO....nothing happened my fried...I just needed to go for the evening. I should have been more time conscious in my statement...sorry.

Posted 174 days ago.

moderation

Do you think the whirlpool tax abatements had anything to do with the city's demise,absolem?

Posted 174 days ago.

What changed Abby ?

Posted 175 days ago.

absolem

Fella's...i'm out of here...take care and i hope to talk with you all soon.

Posted 175 days ago.

absolem

OWO...i think that greed had less to do with it than the distaseful nature of local city council having to increase taxes, permits, or fee's to cover the shortfall in what is paid in and what is paid out. the only way to gain money is to take it or be given it. you should be well aware of how it works. tsk..tsk

Posted 175 days ago.

50 years ago it would have been unheard of risking pensions in the stock market , greed changed that and the little guy got hurt !

Posted 175 days ago.

absolem

policy for custodial credit risk. At year end, investment securities of $11,577,619 were uninsured and unregistered, with securities held.

JPMorgan Chase Bk Diversified Plus Fund - Police and fire pension $ 7,478,519 100%

JPMorgan Chase Bk Diversified Plus Fund - General pension 4,099,100 100%.

Posted 175 days ago.

absolem

Moderation...i did a review of the audit conducted in 2009. below you will find the pertinent and condensed informaton regarding the two pensions and the amounts as well as where there were invested. while almost 12million is alot of money, it is hardly an amount that should sink most credit worthy cities as they could always sell bonds to recoup any loss. please note the classification of the investment.....perhaps in the macro sense, you are correct in one aspect...maybe more...that this indeed did uncover the cat poo in the litter box. but like many other cities within Michigan, fudiciary duties and fiscal management seem foreign to many democratically led cities....just an observation.

Custodial Credit Risk of Investments - Custodial credit risk is the risk that, in the event of the failure of the counterparty, the City will not be able to recover the value of its investments or collateral securities that are in the possession of an outside party. The City does not have a p

Posted 175 days ago.

BeRight

I can't believe the Republicans let Romney speak out against Trump and possible tax problems of Trump.

Romney hasn't paid any taxes in ten years. That must be true since Harry Reid said it,

Posted 175 days ago.

moderation

I guess IT would have been discovered at a later date had we not had the collapse.?

Posted 175 days ago.

absolem

Breath taken.....it appears that they could have used you without spending time on audits and investigations of public malfeasance on the part of the elected officials. Denial and the inability to reel in the comfy perks afforded to the gravy trough of unfunded liabilities as well as non payment of employee payroll taxes...there alot more......

Posted 175 days ago.
 
 
 
 

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