Welch would sooner die than give Obama credit for anything
Minutes after the Labor Department reported that the jobless rate dropped from 8.1 to 7.8 percent, the Obama demonizers smelled a conspiracy — the numbers were manipulated for political gain [Oct. 6 Gazette]. The jobs number conspiracy rant was initiated by Jack Welch, who as GE’s former CEO was best known as a destroyer of jobs in Schenectady and other cities where GE had factories, and for sending jobs to China, India and Mexico.
The Republicans spent the last year wrongly blaming the president for high unemployment, so a drop wasn’t a desirable turn for them. Their efforts to defeat the president exceeds a desire for improvement in the nation’s economy. Every effort made by the president to boost the economy was stymied by Republicans in Congress. The lower jobless rate is consistent with the jump in consumer confidence, strong auto sales, rallying of stock prices and a stabilization of housing prices that preceded the jobless report.
Jack Welch made Six Sigma a central focus of his business strategy at GE. Measure and analyze are the most important elements of Six Sigma. Welch Tweeted his accusations, without any supporting evidence, five minutes after the Labor Department announced the unemployment drop. There wasn’t any measure and analyze from Welch when he Tweeted his accusations.
Welch should look at himself in the mirror. He was an expert in manipulating the GE stock price. He claimed he increased GE’s earnings per share from 72 cents to $1.37 during his last five years as CEO. However, 61 out of the 65 cents increase in earnings were due to a $9.4 billion insurance reserve deficit.
[GE CEO Jeffrey] Immelt was forced to correct this massive under-reserving at GE’s insurance unit before he sold it to Swiss Re at a loss of billions.
The image Welch will see on the mirror is that of a shameless hypocrite.
The writer is a GE retiree.
Rug City could put foot bridge $$$ to better use
I completely agree with the Sept. 5 letter [“Amsterdam pedestrian bridge a waste of money”] from Jay Janczak regarding downtown Amsterdam and the proposed pedestrian bridge.
The cost is projected to be $15.5 million. How in the world, with the financial burdens the country has, can this ever have gotten this far?
Can’t this money be directed to something that would serve the general population? As Mr. Janczak suggested, use the money for improvement of our means of travel for the people who work for a living to commute. We certainly could also use the money for the schools, to better educate our future population.
Just who are the pedestrians who would use this bridge? How often and for what purpose?
The only thing I find inviting in the area are the restaurants on the South Side, and most people drive to them. I would imagine that realistically, if one would want to walk from one side to the other it would be only be from May to September.
Couldn’t we simply enhance the existing sidewalk on the Route 30 bridge? Just look at the fairly new Riverlink Park on the North Side; what did that cost? I seldom see it used by many, unless there is a special event. I, for one, do not feel safe parking in the mostly vacant parking area near the park, and then having to walk on a pedestrian bridge over railroad tracks to get down to Riverside Park.
Much of the nearby downtown neighborhood looks quite neglected, and I question the general safety in the whole area. Let’s face it: “Downtown” is now “uptown,” with plenty of nice new stores.
Another idea: Let some of the pork-barrel money tear down dilapidated buildings in the downtown area and, as proposed by many, make new condominiums to create a new bedroom community for the Capital Region. Residents could commute to the Capital Region area easily by bus, rail or the Thruway.
Ditching gold standard was our big mistake
In 1971, Richard Nixon took America off the gold standard, meaning that from that point forward, the U.S. dollar was worth the paper it is printed on.
The median annual income in America in 1971 was approximately $9,000. Gold, at that time, traded for about $40 per ounce. Thus, in 1971, had you been paid in gold instead of dollars, you would have been paid 225 ounces of gold per year.
In our present day, gold is trading at approximately $1,700 per ounce. If one were making a 1971 median wage today, it would result in an annual salary of over $382,500. Put a different way, to maintain the same standard of living from 1971, today you would need to earn $389,000 per year. Of course, the median annual salary in America today is $27,000 .
To test this theory, look no further than home prices. The median home price in 1971 was $25,000. Today, it is $212,000.
If we allowed our markets to operate freely and if we used a gold standard to anchor our money, prices would actually decrease over time. Inflation is actually theft. It’s a hidden tax that takes your wealth and allows the politicians to spend printed money at the expense of your lifestyle, without any accountability.
Schenectady worse than a greedy ex-spouse
When does a city stop being a city you love and begins to be a nagging ex?
Every month, I pay the city of Schenectady over $700 a month in taxes. In 10 years, I have paid down my mortgage debt $13,000. In those 10 years, I have paid Schenectady combined taxes of approximately $80,000.
In those 10 years, I have lived next to an apartment house with cat infestation (over 100) and a continual bedbug infestation. Neither problem was the city’s concern. Nothing about my needs concerns them.
When a man lay in a flower barrel right outside my door, the attending officer yelled at me for bothering the police. There should be a law that an ex has to at least pretend they care about you.
I have needed a new roof for a long time. I cannot afford one because I have a never-ending monthly support payment due to my ex.
Now my ex wants more monthly support. “I have needs [my ex says], and I always get what I want.”
How could I have ever loved Schenectady?
Electoral College subverts voters’ intentions
Everywhere you looked today, the big question was who won the debate. Does it really matter? Our government feels we aren’t intelligent [enough] to vote and thus the Electoral College does it for us.
Need I remind you that George Bush wasn’t the people’s choice, but he was the Electoral College’s choice. I wouldn’t be surprised to see Romney win there also.
If the government wants me to get out and vote, then let my vote mean something.
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