Oakland’s Minimum Wage Is Up, Wal-Mart Is Out

[David Hartung]

http://tinyurl.com/znhhk9d

If this editorial has it right, the city of Oakland has just destroyed
400 jobs.

From the information in this article from sfgate.com, the Daily Signal
is pretty much correct:

http://www.sfgate.com/bayarea/article/Walmart-to-close-nearly-269-stores-worldwide-6762457.php

[wy]

It was "one of the factors." But then, Walmart has always been notorious about paying slave labor wages to its employees, so to use an increase in the minimum wage as "one of the factors" is actually meaningless in view of the larger picture that really ails Walmart. That larger picture includes a lot of the other bigger factors, like increased competition from Amazon, against which few can compete successfully, especially if you're a huge bargain basement retailer like Walmart. If a big player like Walmart can't make a dent in Amazon, who can anymore? But don't expect Walmart and its owners to lose money in the process:

http://blogs.wsj.com/digits/2016/01/29/wal-mart-closures-bring-out-the-amazon-sellers/

It's the 21st century, not the union-dominated 1950s anymore when Joe and Jane America could succeed and thrive, so get used to it already because the times ain't ever going back to your Father Knows Best/Donna Reed days.

[Mitchell Holman]

David Hartung <d_ha...@h0tmail.com> wrote in
news:JbadnQgz-a5wazHL...@giganews.com:

>
> http://tinyurl.com/znhhk9d
>
> If this editorial has it right, the city of Oakland has just destroyed
> 400 jobs.
>

As compared to the thousands of jobs Mitt Romney destroyed?

http://abcnews.go.com/images/Politics/FreeEnterpriseMemo.pdf

[David Hartung]

Why should I believe anything put out by the Obama campaigns?

[wy]

Maybe you should believe what one of Romney's colleagues at Bain said:

As one of his colleagues recently told the Los Angeles Times:

"I never thought of what I do for a living as job creation," said Mark B. Walpow, a former managing partner at Bain, who worked closely with Romney for nine years before forming his own firm. "The primary goal of private equity is to create wealth for your investors."

Do you understand the concept of private equity? You can't create wealth for investors without destroying thousands of jobs, especially through stripping a company of its costly fat or merging it with another.

[Beam Me Up Scotty]

Liberalism...

*Liberalism is unsustainable, self destructive and contradicting*



[""""""In Oakland, employees and city officials expressed shock, and
some speculated that the city’s minimum-wage law played a part in the
decision to shutter the store there. The Walmart in San Jose, which also
*boosted the minimum wage* , *will shut as well* . The two stores in San
Leandro, which has *no minimum-wage law* that supersedes the state’s,
*will remain open* .

“I think it really is a little discouraging,” said Oakland Councilman
Larry Reid, who learned of the closure in an early-morning phone call. “
*The minimum wage in the city of Oakland played a factor* , was one of
the factors, they considered in closing the stores.”

The loss of Walmart deals a significant blow to Oakland as the giant
retailer ranked among the city’s top 25 sales-tax producers. The city,
however, said it was barred by law from disclosing how much sales-tax
revenue the store provided."""""""]

[Byker]

On 01/30/2016 12:46 PM, David Hartung wrote:
>
> http://tinyurl.com/znhhk9d
>
> If this editorial has it right, the city of Oakland has just destroyed
> 400 jobs.

And created 400 more Welfare mouths to feed...

[wy]

Most Walmart employees are collecting government benefits anyway.

http://www.forbes.com/sites/clareoconnor/2014/04/15/report-walmart-workers-cost-taxpayers-6-2-billion-in-public-assistance/#59924d537cd8

Boy, you're stupid.

[Beam Me Up Scotty]

On 01/30/2016 12:46 PM, David Hartung wrote:
>

Liberalism...

*Liberalism is unsustainable, self destructive and contradicting*



[""""""In Oakland, employees and city officials expressed shock, and
some speculated that the city’s minimum-wage law played a part in the
decision to shutter the store there. The Walmart in San Jose, which also
*boosted the minimum wage* , *will shut as well* . The two stores in San
Leandro, which has *no minimum-wage law* that supersedes the state’s,
*will remain open* .

“I think it really is a little discouraging,” said Oakland Councilman
Larry Reid, who learned of the closure in an early-morning phone call. “
*The minimum wage in the city of Oakland played a factor* , was one of
the factors, they considered in closing the stores.”

The loss of Walmart deals a significant blow to Oakland as the giant
retailer ranked among the city’s top 25 sales-tax producers. The city,
however, said it was barred by law from disclosing how much sales-tax
revenue the store provided."""""""]

And the States income tax and any city/county property tax and the
commercial property values....

All will decrease as they close the stores and the Social Security tax
and the unemployment tax as those people all start to draw unemployment
rather than pay into it.


The Air conditioner/refrigeration company and the others that serviced
that store will also see less income.


But the minimum wage employees that are still working somewhere in
Oakland, are making enough so that when it's taxed at the 30% Federal
and State rates it will mak up for that? ;) Somehow I doubt it.

--
That's Karma





*Rumination*
#61.0.3 - Reality be damned we live in the MATRIX.

[Beam Me Up Scotty]

On 01/30/2016 03:56 PM, wy wrote:
> On Saturday, January 30, 2016 at 3:52:38 PM UTC-5, Byker wrote:
>> On 01/30/2016 12:46 PM, David Hartung wrote:
>>>
>>> http://tinyurl.com/znhhk9d
>>>
>>> If this editorial has it right, the city of Oakland has just destroyed
>>> 400 jobs.
>>
>> And created 400 more Welfare mouths to feed...
>
> Most Walmart employees are collecting government benefits anyway.
>

Minimum wage being raised didn't help stop that, it just made it worse.


--
That's Karma

[Mitchell Holman]

David Hartung <d_ha...@h0tmail.com> wrote in

news:UKednbzEaYqeYjHL...@giganews.com:

"May I suggest that you read the article before commenting on it?"
David Hartung, Sept 16 2015
http://tinyurl.com/q8cz674

[David Hartung]

On 01/30/2016 08:43 PM, Mitchell Holman wrote:
> David Hartung <d_ha...@h0tmail.com> wrote in
> news:UKednbzEaYqeYjHL...@giganews.com:
>
>> On 01/30/2016 12:16 PM, Mitchell Holman wrote:
>>> David Hartung <d_ha...@h0tmail.com> wrote in
>>> news:JbadnQgz-a5wazHL...@giganews.com:
>>>
>>>>
>>>> http://tinyurl.com/znhhk9d
>>>>
>>>> If this editorial has it right, the city of Oakland has just destroyed
>>>> 400 jobs.
>>>>
>>>
>>>
>>> As compared to the thousands of jobs Mitt Romney destroyed?
>>>
>>> http://abcnews.go.com/images/Politics/FreeEnterpriseMemo.pdf
>>
>> Why should I believe anything put out by the Obama campaigns?
>>
>
>
>
> "May I suggest that you read the article before commenting on it?"
> David Hartung, Sept 16 2015
> http://tinyurl.com/q8cz674

I did, your point?

[Tom Sr.]

On Saturday, January 30, 2016 at 12:46:22 PM UTC-5, David Hartung wrote:
> If this editorial has it right, the city of Oakland has just destroyed
> 400 jobs.

It was *Walmart* that did that, by refusing to obey the law.


You never have gotten That Clue, Hartung.























































































*duh*

. . .

[wy]

And you still got it wrong. Raising the minimum wage wasn't the reason why they're closing that store.

[NoBody]

On Sun, 31 Jan 2016 05:08:33 -0800 (PST), "Tom Sr."
<thomas.sw...@gmail.com> wrote:

>On Saturday, January 30, 2016 at 12:46:22 PM UTC-5, David Hartung wrote:
>> If this editorial has it right, the city of Oakland has just destroyed
>> 400 jobs.
>
>
>
>It was *Walmart* that did that, by refusing to obey the law.

They didn't "refuse to obey the law". They found the legislated way
too harmful to profits and chose to close. That is their right. Next
you'll be demanding laws that businesses open open up because you want
them, not that if they will be viable.

>
>
>You never have gotten That Clue, Hartung.
>

More irony from Tom.

[NoBody]

Others feel otherwise and actually support their opinions:

http://www.sfgate.com/opinion/saunders/article/Does-Walmart-closure-mean-higher-minimum-wage-6772957.php
http://dailysignal.com/2016/01/22/oaklands-minimum-wage-is-up-wal-mart-is-out/
http://www.economicpolicyjournal.com/2016/01/now-oakland-walmart-closure-blamed-on.html

Boy is Wy beyond stupid.

[wy]

If that was the case, then they'd be closing every store in every state where the minimum wage has been raised. It's not the case, stupid. Online sales by Amazon is moving into their territory against which Walmart can't compete. But nice to know that you prefer to have your taxes subsidies Walmart employees to the tune of billions each year.

https://www.washingtonpost.com/posteverything/wp/2015/04/15/we-are-spending-153-billion-a-year-to-subsidize-mcdonalds-and-walmarts-low-wage-workers/

Boy, you're stupid, and for being stupid deserve to have your taxes go to Walmart employees when Walmart itself should be adequately paying them.

[Fred Oinka]

On Saturday, January 30, 2016 at 12:46:22 PM UTC-5, David Hartung wrote:

Quickly going the way of Detroit and other libtard hell holes.

[Vandar]

Obama 2012 letterhead. Yeah, there's an objective source of information,
and from a guy who has never hired a single person to do a single thing.

Romney's company only got involved in a business if that business was
already going down. Depending on their circumstances, Bain either
restructured the company in an effort to revitalize it, or ushered it
through the bankruptcy process (where it was already headed).
In short, Romney destroyed no jobs. The companies in question were
already going out of business.

[Vandar]

Now that is an ignorant statement.

Has Google created wealth for their investors? Has Facebook? Amazon?

[wy]

You're totally clueless and naive.

"Here's how Romney would go about "liberating" a company: A private equity firm like Bain typically seeks out floundering businesses with good cash flows. It then puts down a relatively small amount of its own money and runs to a big bank like Goldman Sachs or Citigroup for the rest of the financing. (Most leveraged buyouts are financed with 60 to 90 percent borrowed cash.) The takeover firm then uses that borrowed money to buy a controlling stake in the target company, either with or without its consent. When an LBO is done without the consent of the target, it's called a hostile takeover; such thrilling acts of corporate piracy were made legend in the Eighties, most notably the 1988 attack by notorious corporate raiders Kohlberg Kravis Roberts against RJR Nabisco, a deal memorialized in the book Barbarians at the Gate.

Romney and Bain avoided the hostile approach, preferring to secure the cooperation of their takeover targets by buying off a company's management with lucrative bonuses. Once management is on board, the rest is just math. So if the target company is worth $500 million, Bain might put down $20 million of its own cash, then borrow $350 million from an investment bank to take over a controlling stake.

But here's the catch. When Bain borrows all of that money from the bank, it's the target company that ends up on the hook for all of the debt.

Now your troubled firm - let's say you make tricycles in Alabama - has been taken over by a bunch of slick Wall Street dudes who kicked in as little as five percent as a down payment. So in addition to whatever problems you had before, Tricycle Inc. now owes Goldman or Citigroup $350 million. With all that new debt service to pay, the company's bottom line is suddenly untenable: You almost have to start firing people immediately just to get your costs down to a manageable level."

http://www.rollingstone.com/politics/news/greed-and-debt-the-true-story-of-mitt-romney-and-bain-capital-20120829

Boy, you're stupid.

[wy]

Were they taken over by Bain Capital? Boy, you're stupid.

[Vandar]

Staples, Burlington Coat Factory, AMC Theaters, Sealy, Sports Authority,
Toys R Us, Warner Music, Dunkin Donuts, and Dominos Pizza were.

Have they created wealth for their investors?

The stupidity is entirely yours.

[wy]

The wealth created is for Bain's investors, not those companies' investors, stupid. How do you think Bain gets the capital it needs to take over companies? Damn, wake up out of your coma already.

[Vandar]

On 2/1/2016 10:50 AM, wy wrote:
> On Monday, February 1, 2016 at 10:39:49 AM UTC-5, Vandar wrote:
>> On 1/30/2016 1:16 PM, Mitchell Holman wrote:
>>> David Hartung <d_ha...@h0tmail.com> wrote in
>>> news:JbadnQgz-a5wazHL...@giganews.com:
>>>
>>>>
>>>> http://tinyurl.com/znhhk9d
>>>>
>>>> If this editorial has it right, the city of Oakland has just destroyed
>>>> 400 jobs.
>>>>
>>>
>>>
>>> As compared to the thousands of jobs Mitt Romney destroyed?
>>>
>>> http://abcnews.go.com/images/Politics/FreeEnterpriseMemo.pdf
>>
>> Obama 2012 letterhead. Yeah, there's an objective source of information,
>> and from a guy who has never hired a single person to do a single thing.
>>
>> Romney's company only got involved in a business if that business was
>> already going down. Depending on their circumstances, Bain either
>> restructured the company in an effort to revitalize it, or ushered it
>> through the bankruptcy process (where it was already headed).
>> In short, Romney destroyed no jobs. The companies in question were
>> already going out of business.
>
> You're totally clueless and naive.
>
> "Here's how Romney would go about "liberating" a company: A private equity firm like Bain typically seeks out floundering businesses with good cash flows. It then puts down a relatively small amount of its own money and runs to a big bank like Goldman Sachs or Citigroup for the rest of the financing. (Most leveraged buyouts are financed with 60 to 90 percent borrowed cash.) The takeover firm then uses that borrowed money to buy a controlling stake in the target company, either with or without its consent. When an LBO is done without the consent of the target, it's called a hostile takeover; such thrilling acts of corporate piracy were made legend in the Eighties, most notably the 1988 attack by notorious corporate raiders Kohlberg Kravis Roberts against RJR Nabisco, a deal memorialized in the book Barbarians at the Gate.

You idiot. You says "here's how Romney would do it", then your next
paragraph says that's not how they would do it.

> Romney and Bain avoided the hostile approach,

Exactly what I said.

> preferring to secure the cooperation of their takeover targets by buying off a company's management with lucrative bonuses. Once management is on board, the rest is just math. So if the target company is worth $500 million, Bain might put down $20 million of its own cash, then borrow $350 million from an investment bank to take over a controlling stake.

They started as venture capital, skippy. Bain eventually moved to growth
capital and leveraged buyouts of larger corporations, like Ampad. They
had $106 million in revenue when Bain took over. When Bain was finished,
they had $600 million in revenue and were listed on the NYSE.

> But here's the catch. When Bain borrows all of that money from the bank, it's the target company that ends up on the hook for all of the debt.
>
> Now your troubled firm - let's say you make tricycles in Alabama - has been taken over by a bunch of slick Wall Street dudes who kicked in as little as five percent as a down payment. So in addition to whatever problems you had before, Tricycle Inc. now owes Goldman or Citigroup $350 million. With all that new debt service to pay, the company's bottom line is suddenly untenable: You almost have to start firing people immediately just to get your costs down to a manageable level."
>
> http://www.rollingstone.com/politics/news/greed-and-debt-the-true-story-of-mitt-romney-and-bain-capital-20120829

The author of that piece obvioulsy knows little to nothing about the
industry Bain operated in.
Considering the author is Matt Taibbi, that's not a surprise. It's not a
coincidence that piece was written two months before the 2012 election.
Rolling Stone has long been in the tank for the DNC, and no writer on
their staf moreso than Matt Taibbi.
The guy is such a whackjob that he's even written pieces meant to piss
off conservatives that were so out of line even Hillary denounced him.
Even those who commented on the story said that, although they also
loathe Romney, Taibbi's piece was way too partisan and short on facts.

[Vandar]

*thud*

[Tom Sr.]

--------------
http://www.msnbc.com/rachel-maddow-show/wow-6-percent-sounds-pretty-good

*'Wow, 6 Percent Sounds Pretty Good'
by Steve Benen
10/08/14

During the last presidential campaign, Mitt Romney argued that he, and he alone, could give the economy a terrific boost. Sure, President Obama's policies had successfully ended the Great Recession, but a Romney/Ryan administration would send the economy into overdrive.

In May 2012, the Republican candidate sat down with Mark Halperin, who pressed Romney to get specific about what Americans could expect to see under his presidency.

HALPERIN: "Would you like to be more specific about what the unemployment rate would be like at the end of your first year?"

ROMNEY: "I cannot predict precisely what the rate would be at the end of one year. I can tell you that over a period of four years, by a virtue of the polices that we put in place, we get the unemployment rate down to 6 percent, perhaps a little lower."


Yep, Romney said that if he were elected, and given a chance to implement his bold economic vision, freeing the nation of the scourge that is Obama's crushing agenda, the unemployment rate would drop to "6 percent" - maybe even "a little lower" - by the end of 2016.

Of course, President Obama defeated Romney with relative ease, leaving Americans with economic policies that helped push the unemployment rate to 5.9% - in the middle of 2014, more than two full years ahead of Romney's goal.

As my pal Xenos joked, "By Romney's own standards, he should be glad that he lost the presidency. After all, would he really want to subject the American people to another two years of less than impressive job growth?"

Shortly after making the promise, Romney appeared on Fox News to tout his ambitious prediction. "People all across the country are saying, 'Wow, 6 percent sounds pretty good,'" the Republican boasted.

Yes, governor, it actually does. When we learned last week that the jobless rate dropped to 5.9%, and the United States is on track for the best year for job creation since the '90s, many of us thought it did sound "pretty good."

Oddly enough, as Romney routinely makes the rounds, constantly appearing in the media to complain about the president, this prediction about unemployment never seems to come up. Maybe someone ought to ask him about it.
--------------



The current unemployment rate as of December 2015 is 5.0%.

See: http://data.bls.gov/timeseries/LNS14000000



Thanks, President Obama!












. . .

[wy]

And you've proved absolutely zero to the contrary. Try again. You might get lucky next time.

[wy]

Still proving absolutely zero to the contrary. Stop thudding your head, you might actually come up with something.

[Mike Colangelo]

On 1/30/2016 9:46 AM, David Hartung wrote:
>
> http://tinyurl.com/znhhk9d
>
> If this editorial has it right, the city of Oakland has just destroyed
> 400 jobs.
>

> From the information in this article from sfgate.com, the Daily Signal
> is pretty much correct:
>
> http://www.sfgate.com/bayarea/article/Walmart-to-close-nearly-269-stores-worldwide-6762457.php
>

Incorrect that the rise in the minimum wage was the decisive factor, but
it undoubtedly played a role. Wal-Mart closed stores in locations that
didn't have an increase in minimum wage, as well.

There is no doubt among labor economists that the minimum wage has a
negative effect on employment. Card and Krueger have been thoroughly
refuted.

[Salty Stan]

On Monday, February 1, 2016 at 10:41:14 AM UTC-5, Vandar wrote:

> On 1/30/2016 1:26 PM, wy wrote:

ss

> >
> > Do you understand the concept of private equity?

> > You can't create wealth for investors without destroying thousands of jobs.

Now THAT is a classic wy statement.

And to think that people with this level of ignorance and stupidity are still allowed to vote.

[wy]

Speaking of ignorance and stupidity - yours:

"Consider Bain Capital's Thomas Lee Partners' $26 billion acquisition of Clear Channel Communications -- home of Rush Limbaugh -- and his $400 million, eight-year syndication deal inked in 2008. This takeover has turned a company that formerly earned net income of nearly $1 billion into a money-loser (almost $4.7 billion in cumulative losses), resulted in thousands of layoffs, extracted millions in fixed management fees, and recently resulted in a multi-billion special dividend for the two PE owners paid for by highly risky borrowing."

http://www.forbes.com/sites/petercohan/2012/05/29/private-equity-insider-talks-bain-capital-like-it-really-is/2/#5bc51db81532

Boy, you're ignorantly stupid and stupidly ignorant.

[Vandar]

Thomas H. Lee Partner and Bain Capital are two completely separate
companies.
The acquisition of Clear Channel took place 4 years *after* Romney left
Bain. Romney was Gov. of Mass. at the time.

[Beam Me Up Scotty]

On 02/01/2016 12:01 PM, Mike Colangelo wrote:
> On 1/30/2016 9:46 AM, David Hartung wrote:
>>
>> http://tinyurl.com/znhhk9d
>>
>> If this editorial has it right, the city of Oakland has just destroyed
>> 400 jobs.
>>
>> From the information in this article from sfgate.com, the Daily Signal
>> is pretty much correct:
>>
>> http://www.sfgate.com/bayarea/article/Walmart-to-close-nearly-269-stores-worldwide-6762457.php
>>
>>
>
> Incorrect that the rise in the minimum wage was the decisive factor, but
> it undoubtedly played a role. Wal-Mart closed stores in locations that
> didn't have an increase in minimum wage, as well.

Lawyers made them do that to cover their legal ass from some CRA type of
laws.

>
> There is no doubt among labor economists that the minimum wage has a
> negative effect on employment. Card and Krueger have been thoroughly
> refuted.

And no doubt that Liberals are idiots.


--
That's Karma

[vit...@gmail.com]

On Saturday, January 30, 2016 at 1:20:53 PM UTC-5, David Hartung wrote:
> On 01/30/2016 12:16 PM, Mitchell Holman wrote:
> > David Hartung <d_ha...@h0tmail.com> wrote in
> > news:JbadnQgz-a5wazHL...@giganews.com:
> >
> >>

> >> http://tinyurl.com/znhhk9d
> >>
> >> If this editorial has it right, the city of Oakland has just destroyed
> >> 400 jobs.
> >>
> >
> >

> > As compared to the thousands of jobs Mitt Romney destroyed?
> >
> > http://abcnews.go.com/images/Politics/FreeEnterpriseMemo.pdf
>
> Why should I believe anything put out by the Obama campaigns?

Why would we care? Are you a Holocaust denier?

[El_Bastardo]

Why....Good question. You said you were in nam but you have no idea what the ma duece is. You who said you served time in the nam...fought against the NVA and Viet Cong but fully support their ideology .Looks like you have taken their side. If we look at all your previous posts it would suggest otherwise.

[Salty Stan]

On Monday, February 1, 2016 at 3:48:35 PM UTC-5, vit...@gmail.com wrote:

Your question makes no sense...

[Rudy Canoza]

On 1/31/2016 5:08 AM, Tom Sr. wrote:
> On Saturday, January 30, 2016 at 12:46:22 PM UTC-5, David Hartung wrote:
>> If this editorial has it right, the city of Oakland has just destroyed
>> 400 jobs.
>
>
>
> It was *Walmart* that did that, by refusing to obey the law.

They did not disobey any law, you liar.

Everyone knows that the minimum wage destroys jobs.

[Rudy Canoza]

On 1/30/2016 10:15 AM, wy wrote:
> On Saturday, January 30, 2016 at 12:46:22 PM UTC-5, David Hartung wrote:

>> http://tinyurl.com/znhhk9d

>>
>> If this editorial has it right, the city of Oakland has just destroyed
>> 400 jobs.
>>

>> From the information in this article from sfgate.com, the Daily Signal
>> is pretty much correct:
>>
>> http://www.sfgate.com/bayarea/article/Walmart-to-close-nearly-269-stores-worldwide-6762457.php
>
>

> It was "one of the factors." But then, Walmart has always been notorious about paying slave labor wages

Bullshit.

[Rudy Canoza]

On 1/30/2016 12:56 PM, wy wrote:
> On Saturday, January 30, 2016 at 3:52:38 PM UTC-5, Byker wrote:

>> On 01/30/2016 12:46 PM, David Hartung wrote:
>>>
>>> http://tinyurl.com/znhhk9d
>>>
>>> If this editorial has it right, the city of Oakland has just destroyed
>>> 400 jobs.
>>

>> And created 400 more Welfare mouths to feed...
>
> Most Walmart employees are collecting government benefits anyway.

Which forces Wal-Mart and other employers to pay *higher* wages than
they otherwise would have to pay.

[wy]

Yeah, that's why it's "Bain Capital's Thomas Lee Partners" - because they're two separate companies, even though one owns the other, both of which are private equity companies that engage in the same practices to achieve their common desired ends of enriching their investors at the expense of the companies and employees they take over. Boy, can you get any stupider?

> The acquisition of Clear Channel took place 4 years *after* Romney left
> Bain. Romney was Gov. of Mass. at the time.

It still destroyed "thousands of jobs" and practically the company itself. Yeah, you can get stupider.

[wy]

Then their employees don't need billions of dollars of government aid, do they? Fuck, you're Ca-ca-knows-not stupid.

[Vandar]

On 2/1/2016 7:31 PM, wy wrote:
> On Monday, February 1, 2016 at 1:23:45 PM UTC-5, Vandar wrote:
>> On 2/1/2016 12:53 PM, wy wrote:
>>> On Monday, February 1, 2016 at 12:25:09 PM UTC-5, Salty Stan wrote:
>>>> On Monday, February 1, 2016 at 10:41:14 AM UTC-5, Vandar wrote:
>>>>> On 1/30/2016 1:26 PM, wy wrote:
>>>> ss
>>>>>>
>>>>>> Do you understand the concept of private equity?
>>>>
>>>>>> You can't create wealth for investors without destroying thousands of jobs.
>>>>
>>>> Now THAT is a classic wy statement.
>>>>
>>>> And to think that people with this level of ignorance and stupidity are still allowed to vote.
>>>>>
>>>>> Now that is an ignorant statement.
>>>>>
>>>>> Has Google created wealth for their investors? Has Facebook? Amazon?
>>>
>>> Speaking of ignorance and stupidity - yours:
>>>
>>> "Consider Bain Capital's Thomas Lee Partners' $26 billion acquisition of Clear Channel Communications -- home of Rush Limbaugh -- and his $400 million, eight-year syndication deal inked in 2008. This takeover has turned a company that formerly earned net income of nearly $1 billion into a money-loser (almost $4.7 billion in cumulative losses), resulted in thousands of layoffs, extracted millions in fixed management fees, and recently resulted in a multi-billion special dividend for the two PE owners paid for by highly risky borrowing."
>>>
>>> http://www.forbes.com/sites/petercohan/2012/05/29/private-equity-insider-talks-bain-capital-like-it-really-is/2/#5bc51db81532
>>>
>>> Boy, you're ignorantly stupid and stupidly ignorant.
>>
>> Thomas H. Lee Partner and Bain Capital are two completely separate
>> companies.
>
> Yeah, that's why it's "Bain Capital's Thomas Lee Partners" - because they're two separate companies, even though one owns the other,

False. The author seems to have omitted an ampersand between the two
company names. Bain does NOT own Thomas H Lee Partners.

Surprising that I'd have to tell you this in 2016, but don't believe
everything you read on the internet.

[wy]

Thanks for not disproving that "thousands of jobs" at Clear Channel were destroyed and the company itself went nearly kaput as well, as a result of private equity meddling principally aimed at fattening the wallets of their investors.

[Vandar]

Maybe Clear Channel should've run a tighter ship so they wouldn't have
had to sell.
Or maybe it's just business.

Now go back to hating rich, white Christians who are funded by Wall
Street while you hope the next president is a rich, white Christian
funded by Wall Street,

[wy]

AM radio is a dying media, just as Walmart is on the verge of becoming a dying retailer, all thanks to online alternatives. There is little tightening that can be done with an inevitably sinking ship in the face of people increasingly relying on the internet. Try not to be such a dimbulb.

http://www.marketwatch.com/story/clear-channel-sold-to-buyout-group-for-187-billion

[Vandar]

Clear Channel has much more than just AM radio and which voice in your
head told you this is a good place to inject Walmart?

[wy]

Read the subject heading, stupid. Yeah, it's still on topic, as in there's a reason why these giants are collapsing - the internets, dummy.

[Vandar]

We weren't discussing them, stupid.

> Yeah, it's still on topic, as in there's a reason why these giants are collapsing - the internets, dummy.

Who cares? We were talking about your hatred of successful businesses
like Bain and Thomas H Lee, whose ownership you were wrong about. Then
you come out with "derp...Walmart is collapsing..derpderp...because of
the internet...derpityderp".

[David Hartung]

On 01/31/2016 09:48 AM, wy wrote:
> On Sunday, January 31, 2016 at 6:44:08 AM UTC-5, David Hartung wrote:

>> On 01/30/2016 08:43 PM, Mitchell Holman wrote:
>>> David Hartung <d_ha...@h0tmail.com> wrote in

>>> news:UKednbzEaYqeYjHL...@giganews.com:

>>>
>>>> On 01/30/2016 12:16 PM, Mitchell Holman wrote:
>>>>> David Hartung <d_ha...@h0tmail.com> wrote in
>>>>> news:JbadnQgz-a5wazHL...@giganews.com:
>>>>>
>>>>>>

>>>>>> http://tinyurl.com/znhhk9d
>>>>>>
>>>>>> If this editorial has it right, the city of Oakland has just destroyed
>>>>>> 400 jobs.
>>>>>>
>>>>>
>>>>>

>>>>> As compared to the thousands of jobs Mitt Romney destroyed?
>>>>>
>>>>> http://abcnews.go.com/images/Politics/FreeEnterpriseMemo.pdf
>>>>
>>>> Why should I believe anything put out by the Obama campaigns?
>>>>
>>>
>>>
>>>

>>> "May I suggest that you read the article before commenting on it?"
>>> David Hartung, Sept 16 2015
>>> http://tinyurl.com/q8cz674
>>
>> I did, your point?
>
> And you still got it wrong. Raising the minimum wage wasn't the reason why they're closing that store.

Please enlighten us. Why did Walmart close their store in Oakland?

[Mitchell Holman]

David Hartung <d_ha...@h0tmail.com> wrote in

news:cZ-dnf5_NMlXhS3L...@giganews.com:

Why are they closing stores in Mississippi?

http://www.clarionledger.com/story/business/2016/01/15/walmart-closing-
six-ms-locations/78842404/

[wy]

You weren't, I was, idiot. And I did so right from the start of the thread. Stay focused.

>
> > Yeah, it's still on topic, as in there's a reason why these giants are collapsing - the internets, dummy.
>
> Who cares? We were talking about your hatred of successful businesses
> like Bain and Thomas H Lee, whose ownership you were wrong about. Then
> you come out with "derp...Walmart is collapsing..derpderp...because of
> the internet...derpityderp".

Well, there's no reason for Walmart to be shutting its doors left, right and center if it's not collapsing under the weight of the internets, is there now?

[wy]

Not because of increased minimum wages, that's for sure. But we know how you ignored the other cites so as to remain totally clueless in that unenviable Mississippian way of yours.

[David Hartung]

So neither you or Holman can explain what reasons Walmart had for
closing their Oakland store, other than the increased minimum wage.

[wy]

It's been explained, you're just too stupid to want to know it.

[NoBody]

On Mon, 01 Feb 2016 06:43:25 -0500, NoBody <NoB...@nowhere.com> wrote:

>On Sun, 31 Jan 2016 05:08:33 -0800 (PST), "Tom Sr."
><thomas.sw...@gmail.com> wrote:

>
>>On Saturday, January 30, 2016 at 12:46:22 PM UTC-5, David Hartung wrote:
>>> If this editorial has it right, the city of Oakland has just destroyed
>>> 400 jobs.
>>
>>
>>

>>It was *Walmart* that did that, by refusing to obey the law.
>

>They didn't "refuse to obey the law". They found the legislated way
>too harmful to profits and chose to close. That is their right. Next
>you'll be demanding laws that businesses open open up because you want
>them, not that if they will be viable.
>
>>
>>
>>You never have gotten That Clue, Hartung.
>>
>
>More irony from Tom.

And once again Tom vanishes when actual thought is required.

[NoBody]

On Mon, 1 Feb 2016 07:20:12 -0800 (PST), wy <w...@myself.com> wrote:

>On Monday, February 1, 2016 at 7:25:12 AM UTC-5, NoBody wrote:

>> On Sun, 31 Jan 2016 07:48:22 -0800 (PST), wy <w...@myself.com> wrote:
>>
>> >On Sunday, January 31, 2016 at 6:44:08 AM UTC-5, David Hartung wrote:
>> >> On 01/30/2016 08:43 PM, Mitchell Holman wrote:
>> >> > David Hartung <d_ha...@h0tmail.com> wrote in
>> >> > news:UKednbzEaYqeYjHL...@giganews.com:
>> >> >
>> >> >> On 01/30/2016 12:16 PM, Mitchell Holman wrote:
>> >> >>> David Hartung <d_ha...@h0tmail.com> wrote in
>> >> >>> news:JbadnQgz-a5wazHL...@giganews.com:
>> >> >>>
>> >> >>>>
>> >> >>>> http://tinyurl.com/znhhk9d
>> >> >>>>

>> >> >>>> If this editorial has it right, the city of Oakland has just destroyed
>> >> >>>> 400 jobs.
>> >> >>>>
>> >> >>>
>> >> >>>

>> >> >>> As compared to the thousands of jobs Mitt Romney destroyed?
>> >> >>>
>> >> >>> http://abcnews.go.com/images/Politics/FreeEnterpriseMemo.pdf
>> >> >>
>> >> >> Why should I believe anything put out by the Obama campaigns?
>> >> >>
>> >> >
>> >> >
>> >> >
>> >> > "May I suggest that you read the article before commenting on it?"
>> >> > David Hartung, Sept 16 2015
>> >> > http://tinyurl.com/q8cz674
>> >>
>> >> I did, your point?
>> >
>> >And you still got it wrong. Raising the minimum wage wasn't the reason why they're closing that store.
>>

>> Others feel otherwise and actually support their opinions:
>>
>> http://www.sfgate.com/opinion/saunders/article/Does-Walmart-closure-mean-higher-minimum-wage-6772957.php
>> http://dailysignal.com/2016/01/22/oaklands-minimum-wage-is-up-wal-mart-is-out/
>> http://www.economicpolicyjournal.com/2016/01/now-oakland-walmart-closure-blamed-on.html
>>
>> Boy is Wy beyond stupid.
>
>If that was the case, then they'd be closing every store in every state where the minimum wage has been raised. It's not the case, stupid. Online sales by Amazon is moving into their territory against which Walmart can't compete. But nice to know that you prefer to have your taxes subsidies Walmart employees to the tune of billions each year.
>
>https://www.washingtonpost.com/posteverything/wp/2015/04/15/we-are-spending-153-billion-a-year-to-subsidize-mcdonalds-and-walmarts-low-wage-workers/
>
>Boy, you're stupid, and for being stupid deserve to have your taxes go to Walmart employees when Walmart itself should be adequately paying them.

And stupid Wy ignores the citations that prove him wrong. If the
minimum wage increase makes a marginal store non-profitable it's gone.
Boy, is Wy moving well beyond stupid.

[NoBody]

On Tue, 2 Feb 2016 04:29:55 +0000 (UTC), "SlackJaw" <<o...@smart.hop>>
wrote:

>> companies. The acquisition of Clear Channel took place 4 years after

>> Romney left Bain. Romney was Gov. of Mass. at the time.
>

>...and poor dumb wy is shot down in flames.

Not a new thing...

[NoBody]

Irony from the guy who ignored cites that said it was because of the
increase. Boy is Wy going beyond super-stupid.

[Mitchell Holman]

David Hartung <d_ha...@h0tmail.com> wrote in

news:7uqdnYm7L-gIuS3L...@giganews.com:

Perhaps the Oakland stores closed for the
same reason the Mississippi stores did. Ever
think of that?

[Tom Sr.]

On Tuesday, February 2, 2016 at 9:26:14 AM UTC-5, Mitchell Holman wrote:
> David Hartung <d_ha...@hotmail.com> wrote in
> news:7uqdnYm7L-gIuS3L...@giganews.com:

> > So neither you or Holman can explain what reasons Walmart had for
> > closing their Oakland store, other than the increased minimum wage.

> --

>
> Perhaps the Oakland stores closed for the
> same reason the Mississippi stores did. Ever
> think of that?

Yet again, Hartung *fails* to see the Bigger Picture.












. . .

[Beam Me Up Scotty]

If so then the FCC can also be considered a dying and needless
regulatory agency.


> http://www.marketwatch.com/story/clear-channel-sold-to-buyout-group-for-187-billion
>


--
That's Karma

If a marriage license *can't* tell you who you *must marry*
depending on sexual identity... how can a business license tell
you who you *Must engage in commerce with* depending on sexual
identity?

*Liberalism is unsustainable, self destructive and contradicting*

[NoBody]

And Wy has vanished.