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Crony Capitalism At Work - Boeing Threatens To Leave US If Ex-Im Subsidy Yanked
Submitted by Veronique De Rugy via The National Review,
When has crony capitalism really gotten out of control? How about when a major U.S. corporation (a huge defense contractor, no less) is publicly threatening government officials to leave the country if the federal government doesn’t continue to boost their profits through government handouts:
Boeing is stepping up pressure on opponents of the US Export-Import Bank with threats to shift manufacturing abroad if the agency that finances purchases by foreign customers is killed off next month.
The threats come as a new push is being made in Congress to find ways of wresting reauthorisation of the bank from a committee controlled by one of the agency’s fiercest opponents.
Scott Scherer, Boeing’s head of regulatory strategy at Boeing Capital, said the aerospace and defense group would “not sit idly by” if the ExIm Bank’s mandate was not renewed by the end of June. “Boeing is not going to let itself be hurt by the lack of an ExIm Bank,” he said in an interview with the Financial Times. “If it means sourcing … to other countries who will support us we may have to look at that. Other countries have more aggressive export policies. We will find an alternative.”
First, let me state the obvious: This basically sounds like blackmail to me, and I don’t think lawmakers should look at this kind of behavior favorably.
Second, it’s time for Boeing executives to understand that it’s not the role of the federal government to guarantee that they can sell as many planes as possible — they’ve benefited from the U.S.’s relatively free-market system; they should have to live with it.
And finally, I don’t think Boeing’s threat is very credible. Will Boeing really pick up its factories and move abroad if Ex-Im isn’t reauthorized? Is the possibility other governments might subsidize it really worth the transition costs and the risks of losing billions in defense contracts?
Thankfully, Jeb Hensarling, chairman of the House committee with jurisdiction over Ex-Im, called Boeing’s bluff:
The Republican chairman of the House Financial Services Committee rejected reports that Boeing Co. or other companies might move production overseas if Congress doesn’t reauthorize the U.S. Export-Import bank.
“I doubt I believe it,” Representative Jeb Hensarling of Texas said at a Washington press conference Tuesday about whether failing to extend the bank’s charter would drive major corporations out of the U.S. “I think it’s frankly a bit of bluster.”
Boeing, based in Chicago, might move some manufacturing overseas if Congress doesn’t extend the bank’s charter beyond June 30, the Financial Times reported May 17. It cited an interview with Scott Scherer, head of regulatory strategy at Boeing Capital.
Hensarling said he and others who oppose reauthorizing the Export-Import Bank are trying to “lead the party in a new direction” that will give priority to free enterprise over individual business interests.
Letting the Ex-Im Bank’s charter expire will go a long way to show that Republicans understand the difference between being pro-business and being pro-market — even if Boeing doesn’t.
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Airports are little more than prisons with Starbucks. Fuck flying.
I'm betting Northrop and Lockheed are greaing some palms, right now !
"Boeing Threatens To Leave US"
don't let the door hit you on your way out
hugs,
northop n lockheed
No more soup (defense contracts) for you!
The largest beneficiary of Ex-Im subsidies is airline giant Boeing, which has donated between $1 million and $5 million to the Clinton Foundation. Another top beneficiary, General Electric, has given between $500,000 and $1 million. ...
Boeing can leave if it wants to, as long as they take the Clintons with them.
Hillary recently went out of her way to endorse the Export-Import Bank, a little-known government agency that guarantees loans so that American corporations can sell products overseas.
While secretary of state she shilled for the Ex-Im Bank. In 2009, she appeared in Moscow with officials of the Russian airline Rosavia to tout its pursuit of Ex-Im funding. This is how she put it: “This is a shameless pitch for Rosavia — I’ve said what you wanted me to say, Sergey — to buy Boeing aircraft. Right? The Ex-Im Bank would welcome an application for financing from Rosavia to support its purchase of Boeing aircraft, and I hope that on a future visit I’ll see lot of new Rosavia-Boeing planes when I land in Moscow.”
Whoring for the Ex-Im Bank in Russia on Boeings behalf (after Boeing donated millions to the Clinton Foundation). The sleeze just oozes out of her every orifice. I need to take a shower after just thinking about how sordid this is.
I dont have a problem with Ex-Im bank as longs the "loans" are repaid. Does anyone know what the Non-Performing Loan ratio is for the Ex-Im bank ?
Here is the Ex-Im FY 2013 financial report.... can anyone make heads or tails of it ?
http://www.exim.gov/sites/default/files/oig/Final-Report-FY-2013-Audit-o...
A brightly colored self-congratulatory advertising brochure.
OR
A stringently detailed exorcise in accounting and auditing.
Fuckin' corporate leeches. (bloodsucking parasites).
Make sure that the management gets their asses out of America as well.
No hangin' around Chicago, pimpin' for bucks for blow.
Management ranks right up there with the politicians for their ability to screw American workers while making puffy nests for themselves.
Pack of 3 inch hardons they are.
Screw 'em; piss off Boeing.
That's unfair.
Boeing is just listening to Simon Black.
CONgress: Ok Boeing, have fun in another country with zero US.gov contracts. Grummond et al thank you.
Expecting Boehner and McConnell to stand against Boeing is like expecting Pelosi and Reid to stand against abortion. Or either couple to stand against Obama.
@Stackers: Thanks for the link. Page 12 shows defaults at $176 million for FY2013; however, it appears that the overall performance hasn't been that bad, the real problem is the continued exposure of the taxpayer to risk:
http://www.washingtonpost.com/blogs/fact-checker/wp/2015/04/09/does-the-...
Look in 'Notes to the Financial Statements', page 18. 'Outstanding Defaulted Loans': $1.3289 billion, FY2013. I think that $176mm is how much their lawyers spent on hookers and blow to not worry about it.
The $1.3289 billion is cumulative and reflects defaults and recovery. It improved slightly between FY2012 and FY2013. Management’s Discussion and Analysis of Results of Operations and financial Condition is an exercise in self-promotion and I can see why the Washington Post took them to task. The statement that " All Ex-Im Bank obligations carry the full faith and credit of the U.S.government" is a nod and a wink to potential clients that the U.S. taxpayer is the only one that will get screwed if things go south.
http://archive.exim.gov/about/library/reports/annualreports/2013/FY%2020...
Yea, 89 million in admin for 2013. WYF? To hand out loans?
We can only pray that there is a special hell for the Clintons. Perhaps when the Obamas arrive, the four of them can sit down and play Bridge whilst taking turns cheating one another.
That special Hell is getting pretty crowded.
Every President is there and all business executives. The place is chocked full of Banksters....
We can only pray that there is a special hell for the Clintons. Perhaps when the Obamas arrive, the four of them can sit down and play Bridge whilst taking turns cheating one another.
US Airports are little more than prisons with Starbucks. Fuck flying.
Fixed it for ya....
You're so right. In Amsterdam, you can board a plane with no identification whatsoever with a bomb in your boxers.
UK is similar or worse from personal experience. In other countries it depends. Went through the Czech republic during a terrorist scare. The Prague airport that was typically quiet had MP5 equipped guards with german shepherds.
Don't let peaceful-looking airports fool you.
Back many years ago, when being flown back to the states from the airport in Rome, all indeed looked very peaceful in the terminal. That was until you cast an eye upwards to notice the Italian military walking on catwalks carrying what appeared to be uzis.
Boeing is scared, alright.
Now that Space X has been approved to boost all but the largest DoD / NRO payloads into orbit, United Launch Alliance (a joint venture between Boeing and Lockheed Martin) suddently has serious competition. The loss of revenue they are expected to incur over the next few years could be significant.
Next, there is SIGNIFICANT pushback in Congress of ULA's reliance on the Russian RD-180 engines for launch operations. Each engine cost a cool $10 million. Considering the ongoing tensions with Russia, this leaves ULA / DoD / NRO / NASA in a bit of a pickle.
Further, as the global economy continues to slide, this all but assures that there will be fewer orders for commercial aircraft.
Yup, Boeing is scared, alright.
"...Will Boeing really pick up its factories and move abroad if Ex-Im isn’t reauthorized?..."
Is that a rhetorical question or a joke? Boeing and Israel go way back. Wichita and Long Beach manufacturing jobs already went to Israel and were then outsourced by them to some other shithole. Soon: St. Louis manufacturing jobs will be 'exported' and next: Chicago HQ jobs. Mention this at Boeing and your career is instantly over.
Boeing probably already has the land picked out in Haifa. Ex-Im and tax breaks are noise. Boeing is headed to tax-free (for them) and arms-export psychopaths' paradise: Israel. There will be laws passed in congress that force us to buy their Israeli-manufactured crap for the next thousand years. Israel is just as interested (if not more) in all the defense electronics crap as they are the aircraft manufacturing. They'll always keep some token manufacturing here - mostly the big lines that are too hard/to expensive to move. But anything that they can unbolt and put in a crate to Haifa or some other third-world shithole subcontractor is - for all practical purposes - gone. This is just the theatre for the HQ move.
You didn't think those dual-citizens in congress were there just to give away money and arms to Israel, did you? They want the whole industry. They want to make sure the major arms manufacturers look nowhere else BESIDES Israel for their new tax avoidance homes. Congress HAS to preserve Ex-Im for their business/profits wherever they skulk off too. Congresses' job is to preserve Ex-Im WHILE Boeing is secretly bailing out of the U.S. piece-by-piece. Congress is also expected to fight anything (like the Boycott-Divest-Sanction Israel movements) to make sure the 'new' Boeing isn't hurt financially by their association with Israel.
Don't let the hanger door hit you in the ass on the way out.
my thoughts, exactly.
my thoughts, exactly.
Why would any company want to keep a factory open in Amerika?
To launder money, store methamphetamine, cocaine, and weapons?
Boeing is after all 'A Person" so has every right to change citizenship.
USA USA see what comes home to roost.
Maybe they have to have ex-Prezzie Bill give a speech of 2 more????
I did not have sex on that airplane.....
Leave. See if you can survive without the american government.
I can sympathize with the feeling that they are bullying or trying to pressure to get their way, but to counter your argument, I'm sure you are aware that many many businesses have already left.
Our government has created a corrupt and complex set of rules that business has tried to rationalize through their planning and capital expenditures, so I don't think it is unreasonable that they will resist change.
The system is corrupt and if anyone, from Boeing on down, wants to financially succeed, they MUST participate in the CORRUPTION, as we ALL are.
This must change and its going to cause a lot of pain....and anger.
In a free market system without a baseline the most corrupt entitity sets the bar. The upside is reinvested in defeating all others.
It seems that people fear the free market far more than corruption. On a level playing field many feel pretty vulnerable. Everyone seeks advantage to compensate what they see as their competitive weaknesses.
The "little woman" with a big gun in her purse.
Government is the source of power that we all rely on for protection, be it in war or in legal contracts. This power is corruptible and as such, has been corrupted. The constitution was an attempt to eliminate the source of corruption by limiting their power, but like erosion, it can be advanced or slowed but never stopped.
sadly it seems that a full collapse of confidence in government is the only thing that will allow us to start again. Unfortunately, this reset will likely be very painful.
The Boeing problem is that other governments supply financing for aircraft sales from their countries. If boeing does not have the same financing assistance for buyers it will have trouble selling planes.
The people posting that the loss of boeing operations in US would make no difference are full scope dumb asses.
We make something here in America... ? come on quit pulling my Leg..
Yeah, You guys make war. And kill your kids in the name of Boeing et al.
We can't kill them all in Chicago and Baltimore, so we must send them elsewhere to die.
Good. Leave.
"Yes you're welcome to leave. You'll never get a government contract again and 50% tariff will be placed on your civilian products that enter US territory."
Sure dude, we all gonna start buying Airbuses...
Yeah, Boeing - you think it's so great over ...
Where ya gonna go?
Yeah, Boeing - you think it's so great over ...
Where ya gonna go?
here's a novel idea: have a contract group of soldgiers show up at his house around 3am, arrest him and his cunt wife, and they wake up in a foriegn prison tomorrow. Let's see the next interview he gives to a foriegn news source.
Sounds like a place I would like to live. not
It is funny that so many are screaming about oppression and their solution is about ten times worse.
When the same federal government won't let them move from a strong union state to a right to work state to make more profit and have a better work force then why the fuck not? Good for them.
ExIm isn't a bank, it's organized government racketeering.
Future Indictments of Export-Import Bank Officials Likely
I wonder how much of Boeing's Aircraft are actually made in the U.S. anyway. I heard a bunch of parts were made in China.
+1 boeing gets parts from all over the world
Same as every American car company. Notice they all only say "assembled in America". ;-)
There should be no reason for surprise when the first generation of Chinese airliners looks a lot like the last generation of Boeing.
IF millions of other corporate welfare recipients were cut off it might result in the US being divested/cleansed of phony/parasitic enterprises wholesale.
Maybe it would work with individual welfare recipients, too.
Let's try it:removing parasites usually impoves health and demeanor.
True story: I found and decided to adopt a feral kitten.
It took over two hours with a tub of water and a pair of tweezers to drown, pick off, and individually crush/kill almost 300 fleas on this poor little creature.
I found it a very satisfying exorcise. The kitten was much cleaner, healthier and happier after the removal of the parasites.
I am petting the very clean and very happy purring kitty right now as a matter of fact....
I postit that any organism is much cleaner, healthier and happier without hundreds of parasites feasting on and defecated all over it.
I extrapolate that our economy/society will be much cleaner, healthier and happier if a whole range of parasites, large and small, corporate and private; were denied resources, expelled and/or destroyed.
I want this economy to purr like a clean happy kitty...
There's correlation between cat ownership and mental disease.
"There's a correlation between cat ownership and mental disease. "
I don't own the cat and the cat doesn't own me.
We have a mutually agreed and mutually beneficial arrangement.
Mental disease?
Paranoia? Superiority or entitlement complexes? Moral vacuity? Brain farts? All of them?
Maybe repeated doses of coke and hookers will mitigate the worst symptoms??
I shouldn't have used the word "ownership". This is pretty well known though, even made mainstream media:
http://www.dailymail.co.uk/health/article-2168089/Women-cat-owners-likel...
The toxoplasma parasite insanity is an effect of cat "ownership" but I suspect some other sort of mental problem or personality disfunction causes cat ownership in the first place so we are likely talking about two issues here, both serious. This warrants further investigation.
Here is a further list of symptoms:
http://distractify.com/quinn/agonizing-struggles-that-prove-cat-owners-a...
Unemployment is not caused by a laziness epidemic. Reducing wellfare is all fine and well, but if you don't ensure there are jobs to be had and median income doesn't take a huge nosedive the results won't be a purring kitty.
You'll just have a house filled with angry fleas.
"Unemployment is not caused by a laziness epidemic. Reducing wellfare is all fine and well, but if you don't ensure there are jobs to be had and median income doesn't take a huge nosedive the results won't be a purring kitty.
You'll just have a house filled with angry fleas. "
By all accounts there has never been more welfare of various kinds in agregate, corporate and private, being distributed in this nation on a per-capita basis.
Many of the parasites are tremendously fat and happy.
http://www.seattletimes.com/business/boeing-ceo-took-home-almost-29m-las...
http://www.glassdoor.com/Salary/Boeing-Salaries-E102.htm
The host is quite unhealthy.
People do what they think they must do. Some have their personal worth attached to their work, a work ethic as it were.
Others see it as pure foolishness to work if you don't have to, and actually denigrate those who do.
We are what we believe.
If "we" don't believe in work, much less productive work, then it will not happen.
The feral economy needs a bath anyways, so while you are self satisfied with the removal of parasites on your newfound kitten you might consider adopting the USA economy and deworming it of the FED tapeworm that is sucking all the life out of Capitalism. First, rid Capitalism of the Casino end of the business and fire all the racketeers that launder, and skim the money. End the FED, allow companies to go bankrupt once again, let the banks fail like they should, and help 'we the people' hang the Banksters from lamp posts and tree limbs. Then, and only then, will Capitalism possibly start functioning again like a happy contented kitten that is cared for.
The USA is the parasite feeding off the rest of the world. The welfare recipients within the US, corporate and individual, are merely parts of this parasite. Cutting those parts off or stopping the supply to those parts will definitely improve the host, planet earth. But it can also help the USA organise itself into a symbiotic relationship with the rest of the planet instead of the current parasitic relationship.
Blackmoney is the grease for the tracks of business. Boeing knows America is finished, but if they threaten to pack up, and leave, Congressional leaders will rally behind them and Boeing will ultimately win another fiscal round of subsidy even though the American taxpayer can't afford it anymore. Boeing is merely riding the Ass that is America right into the ground without looking long term. These are short term thinkers not long term planners. And Congress is just shit-for-brains anyways so they can be manipulated at the will of blue chip companies like Boeing and GE.
wouldnt you know that the jesuits run the US import export bank too?
http://en.wikipedia.org/wiki/Fred_Hochberg
jesus god who will stop this black nobility?
quick FF downvote NOW!!
go ahead, leave now - don't let the door hit you in the ass
Hey Boeing; Don't let the door hit you in the ass on the way out. Airbus makes a better product anyways...
This is the thanks the American taxpayer gets for funding this idiocy in the first place. I'm not one for nationalizing private assets but I think you could make a persuasive argument in the case of Boeing; they have benefited handsomely for decades at the taxpayer trough, think on that.
A,company is simply a team of people. let the bastards that define themselves as Boeing leave America. Let's take the people and create a new aircraft company. I'd nationalize their facilities so that the new company can start where the old one left off. Same people, same salaries same facility...different company with different leadership. As a matter of fact I think Boeing's board of directors and executive staff might be terrorists.
Treasonous WELFARE QUEENS
I'd move to China or Russia if I were Boeing. This place is run by madmen.
My how far we've fallen
Make me immune.crom osha and the epa, a 10% flat tax and Ill build those fucking planes
It's not enough for them that they are operating with one competitor. They need to be subsidized as well. With loans and government contracts.
Is this Crony Capitalism? (copied from another thread)
"Feed the children donated $50,000 to $100,000 to Hillary God damned Clinton?
Uh. That can feed a lot of children.
"To feed one child one meal is $0.20. Each bag of food (390 grams) includes 6 one-cup servings. Each 32lb box of food holds 36 bags of food. This is the equivalent of 216 meals per box. Each 40 foot container load of food includes 225,720 meals or 19 pallets of food at a program cost of approximately $56,430."
http://kidsagainsthungerpleasanton.org/faqs-about-us/food-cost
So basically Feed The Children gave Hillary Clinton $50k to $100k instead of providing 225,000 to 500,000 meals to children it was supposed to make sure were fed.
If you donated to Feed The Children or were children that were supposed to be fed but instead went hungry....you've been Corzined.
...Hillary will be well fed tonight."
From this zerohedge article:
http://www.zerohedge.com/news/2015-05-27/farce-complete-fifa-qatar-donat...
Because...Zerohedge is investigating FIFA/Clinton ties while in the same article toatally ignoring...."Free The Children" and Feed The Children" who donated twice as much as FIFA!!!!
Zerohedge gives 0 fucks about children. Children fuckers.
"Is this Crony Capitalism?...
...basically Feed The Children gave Hillary Clinton $50k to $100k instead of providing 225,000 to 500,000 meals to children it was supposed to make sure were fed."
No. That is not Crony Capitalism.
It is simply:
1. Expropriation and/or conversion of charitable donations to political coffers.
2. Falsely fronting a political organization action commitee with a phony charity or subsidiary charity.
3. Subversion or breach of campaign finance law.
4. Defrauding those who donated to what they believed was a charity.
5. Stealing food from 225,000 to 500,000 indigent children.
RIIIIGHHHT???
And all anyone cares about is soccer fraud. Really...soccer finance fraud, that's what the media and government has resorted too.
Come on Tyler. You know there's a ton of fraud in these charities.
...unless "Feed the Children" is also a main donor to Zerohedge as well as Hillary Clinton.
FIFA DON'T GOT SHIT ON "Feed The Children" or "Free The Children" charities.
Fifa donated too don't you know. loooool it's just fucking hilarious the extent of the corruption everywhere. from top to bottom it's all pervasive.
I stopped giving to all registered charities years ago. every fucking one of them are corrupt from top to bottom.
Give to your neighbor that's in need or give to family that's in need, or better yet donate your time to actually help individuals in need.
Especially DO NOT EVER give to the large medical charities such as the cancer societies or other health charities because their only goal is to AVOID cures at all costs. For Gods sake they have been taking tax payer dollars for a hundred years and have never cured anything (but their salarys are huuuuuuuuuge).
The author using the word "blackmail" & the cartoon to describe the banking weaken his argument. What exactly is wrong with the banking..is it losing money to the US government? How much?...How much does the govt get in taxes from Boeing business on US soil in return... blackmail? do you expect Boeing not to try to thrive like any other multinational? or not be open about real future plans?
Boeing can go fuck themselves. Compete in an open marketplace or GTFO! Corporate welfare as well as public, needs to end.
The US could use one less military contractor.
Bye, Bye Boeing. Get the hell out.
Boeing will leave the U.S. This should send a message to everyone in the U.S. About how a multinational Corporation will resposond. They can not make their products at a competitive price within the U.S. So what the hell are we supposed to do? The military complex doesn't give a shit. They are in business to sell war related materials. We need to shut all of their production down unless it is to protect our Nation and no other Nation!
Boeing Boeing ....
Boeing Boeing Boeing ...
Boeing Boeing ....
Kabum!
hehe.
It does not manufacture turbines!
It is an automaker such as Embraer!
Only some manufacture engines, the rest is carmaker, makes design and put rivets.
hehe.
"Over a month has passed since the first earthquake struck Nepal. Humanitarian and recovery efforts continue in the aftermath of the destruction. The need is still great.
Feed the Children will work with its partner on the ground, World Neighbors, to assist those families and individuals whose lives were tragically impacted by this devastating natural disaster.
You can help those impacted in Nepal with your generous donation today."
http://www.feedthechildren.org/
Feed The Children donated $50,000 to $100,000 to Hillary Clinton who is worth over $100,000,000.
Donate before it's too late.
World Neighbors also needs to be investigated.
Maybe it's a Concubine ( teehee ).
I'll make a donation in Chelsea's mouth if she's desperate for bucks like big mama Hildebeast.
How many folks will just stop donating knowing these sick scams are going down?
She's probably got a dozen affiliated NGO's out there and creaming off the top.
"the U.S.’s relatively free-market system"????
BWAHAHAHAHAH! stopped reading after that nugget of wisdom. I can smell propaganda or/and BS from a mile away. I was raised under Communism.
Even money says the plan to shut down Boeing's operations in the US has been in the works for a long time and ExIm gives them a way to blame it on something other than their own greed.
Boeing didn't feed the children.
After DOJ investigations they'll be be bankrupt any day now.
Boeing did feed the children; depleted batteries & uranium, bless 'em.
America is moving towards nationalization before bust, becuz that will appear as the only remedy.
Please move to China right now!
plenty of room in china.
Please correct me if I'm wrong. But wouldn't Boeing's biggest customer by far be Uncle Sam? And it that is true wouldn't Sam be a little less inclined to buy aircraft from a company that is not going to employ the unwashed of America. Its not like there is any other industry left.
without WW2 and the building of B-52's. KC-135's etc etc Boeing would be nothing,.
IN fact, they were building those long before they built the civilian B-707 etc.
without WW2 and the building of B-52's. KC-135's etc etc Boeing would be nothing,.
IN fact, they were building those long before they built the civilian B-707 etc.
Mike Lee on killing theexport import bank:
http://reason.com/reasontv/2014/07/11/sen-mike-lee-on-the-importance-of-...
I heard the Russians are creating a tax friendly environment for large corporations.
Vacate their patents, making them public domain, and levy a huge tariff on their planes being purchased here in the U.S.
Meanwhile since their employees aren't going anywhere, well most of them, they can quite easily start up operations here in the U.S. under another name. It would be the same planes they were previously selling.
Boeing would be fucked.
All their defense projects would continue on under another company.
All their planes will be copied and cheaper then what they can sell. Same plane, mostly same workers, and Boeing simply couldn't undercut it.
Boeing can leave but they can't take anything with them.
They have pretty much left Seattle their hometown
Only to move their headquarters to Chicago, argueably the most corrupt city in the country. Go figure.
Isn't the mayor of shitcago a dual shitizen himself? IDF veteran but born in the good ole USA?
Yeah, that guy.
I'm sure it's just a coincidence.
Breaking News
Boeing merging with Airbus (EADS) and moving to Toulouse.
Actually Russia or China would be good locations. Others have pointed out that Israel who owns everyone and thing will be the point of destination. The bottom line in the government-corporate complex is that there is no honor among thieves.
So Boeing is going to move its productional plants to "China" if US taxpayers don't keep paying them to stay here? Nice! They demand we re-up the sugar-daddy Export-Import Bank for them. From Wikipedia (so take with a keg of salt):
---/ The Export-Import Bank of the United States (Ex-Im Bank) is the official export credit agency of the United States federal government.[1] It was established in 1934 by an executive order, and made an independent agency in the Executive branch by Congress in 1945, for the purposes of financing and insuring foreign purchases of United States goods for customers unable or unwilling to accept credit risk. The mission of the Bank is to create and sustain U.S. jobs by financing sales of U.S. exports to international buyers. The Bank is chartered as a government corporation by the Congress of the United States; it was last chartered for a three-year term in 2012 and extended in September 2014 through June 30th, 2015.[2] [3] Its Charter spells out the Bank's authorities and limitations. Among them is the principle that Ex-Im Bank does not compete with private sector lenders, but rather provides financing for transactions that would otherwise not take place because commercial lenders are either unable or unwilling to accept the political or commercial risks inherent in the deal. Its current chairman and president is Fred P. Hochberg.[4] \---
What is wrong with us? We just accept this extortion lying down? Why can't we just place tariffs when they try to import their big planes? They are too dangerous to fly anyway. They disappear all the time. Why not rent slow-going little cruise boats? Time to party instead of sitting strapped into a tin can waiting to die.
Any job that can be outsourced will be. BTDT got the shirt.
They came for my different careers twice. They'll come for yours eventually.
Cronyism, it's like meth to USSA corp.
The Business Model of large American firms has devolved into Tax and Welfare warfare.
They're Defense Contractors and on the Commercial Side, a Subsidies Queen, right? Letsee here, unless we have a decent Pre-Nup that allows for both parties to walk in different ways while retaining joint/shared custody of goods/patents/workers/plants brought about with the "Marriage", GOVUSA should:
1) Nationalize every Asset that was funded by GOVUSA Dollars and Subsidies.
2) Freeze every employee's and Mgmt(including the Fracking Board)'s Security Clearance. Suspend Passports of everyone who has a Security Clearance and working on SC Based Projects.
3) Cancel every GOVUSA Contract awarded to them, collect hardware/software produced under them, and demand repayment of funds paid above retail value of hardware/software produced.
4) Drop them from any ongoing Bids for Contracts; and Ban them from Bidding for Contracts funded by GOVUSA.
5) ANNUL ALL TAX Exemptions, and demand Payment of Taxes Due based on the Annulment. Substitute w/AMT if necessary.
...and Finally...
6) Freeze assets of every Tax Haven covering for them - better yet - do a Granada/Panama on them - so they can cough up the Dough and Data.
You're welcome, Solicitor General. I'm sure your staffers can help you put on your AG Hat; and can start pressing charges for shit you've overlooked since they were Defense Contractors.
QED.
Boeing is just another welfare queen.
How the fuck to you have $1.3 bil in defaulted secured loans to soverign nations?
While I agree in the concept of free enterprise and hate government subsidizing industry, one ought not lose contact with the major reality of this world is one of competitiveness. If Europe is providing its own version of an export-import bank for EADS, should we bury our heads and hope for the best? I prefer the US always push to dismantle such programs but mutually with the rest of the world.
Kill the Ex-Im bank, and then nationalize Boeing entirely so it can't leave, and so its PROFITS can't leave either to go offshore, and so it can't destroy US jobs. What other way is there to protect our jobs, industry and security? If even defense industry "national champions" are threatening to leave, then socialism is the only way to protect us...
This is how TPP will work.
Boeing has wanted out for a long time.
They are H1B visa assholes already.
so we have global banks....but Boeing needs their personal political bank? ARE YOU KIDDING?