Posts Tagged Infrastructure
My Stadium Can Beat Up Your Stadium
Posted by zoboxrox in charity, corporate america, crime, malfunction, politics on February 9th, 2009
Whats your favorite sports team? The Panthers? The Flyers? The Yanks? Chances are, you own a little piece of their stadium, whomever your team and assuming you pay your taxes (ie. you are not one of Obama’s Cabinet members). As a tax paying American you own a large portion of the financial institutions, approximately $150 billion of the banks alone (whether you like it or not) and as a shareholder, you own whatever investments the banks decide to make with your money… again… as if you’re not already giving all your money to your bank. So for instance:
Citigroup Inc., targeted by lawmakers for paying $400 million to put its name on the New York Mets’ new ballpark, is among eight banks that may face questioning by Congress for stadium sponsorships. The banks received a total of $153.4 billion from the $700 billion government bailout of financial firms and are spending a combined $845 million for naming rights.
The new Citi Field is replacing the old Shea Stadium, which was in better shape than the majority of American infrastructure; meanwhile, Citibank has cut 53,000 jobs in the past year. And they are not alone in their hypocrisy. Also involved in their own stadium deals are: Bank of America ($140 millions for Carolina Panthers Stadium), JP Morgan Chase ($66 million for Chase Field in Phoenix), Wells Fargo, PNC, Bank of New York, etc.
The advertising and promotional deals include insurance power AIG, which will receive 150 billion dollars in the federal bailout while spending 125 million dollars for its logo to appear on Manchester United football uniforms. ”They should put ‘US Treasury’ on the front of their uniforms,” said Steve Ellis, a member of US watchdog group Taxpayers for Common Sense.
Ohio Democratic Congressman Dennis Kucinich is the only person in Washington whom I’ve heard discuss this so far, but he certainly has a lot to say, and as Chairman of the Subcommittee on Domestic Policy, he has at least somewhat of a right to say it and an audience to say it to:
Stop this aggressive advertising. We own you essentially and we don’t want you advertising, we want you to use the money to keep employees… how many people can you employ for $400 million
So while the government, essentially, has paid for approximately nine stadiums to bear the names of banks (under the Republican Bank Bailout TARP), it cannot decide on whether or not to invest in jobs and schools and health care and bridges and roads and green industry for our future generations. And I mean, COME ON, when was the last time you even noticed what stupid corporation your stadium was named after? Obviously bankers don’t go to football games, or else they might not bother advertising at all.
Blessed Art Thou Among Men
Posted by zoboxrox in economy, environment, malfunction, politics on December 24th, 2008
When someone up there likes you, things tend to fall into place. Such is the situation Barack Obama is currently enjoying. With 82% approval of his transition to power, he has the inverse popularity of Bush. Those who don’t like him are far enough to the left or right that they are more or less politically insignificant. And even as a Leftie, I must say, he really is doing well, making lots of good choices, having great people around him, but there’s something else going on here, and while I’m not spiritual or superstitious, even I have to wonder, is there someone up there on Obama’s side?
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The President-elect recently unveiled his administration’s plans for job creation and economic growth in the near future, and they surprised some people by bringing the country’s infrastructure onto front stage, in what some are calling a 21st century New Deal. Now most people I think tend to complain about the condition of their roads, public schools, and our bridges are starting to look as old as they are, but unless you go to Norway or Japan, the poor quality of American infrastructure does not come across as an immediate crisis seeking national attention, compared with the wars in Iraq and Afghanistan, the economic recession, the healthcare crisis, etc., and there were a fair number of people asking “Why this?”
And then - BAM - we get a strong reminder as to why exactly this might be a good idea. If you live in suburban-D.C. Maryland then you are perhaps a weary driver today, as yesterday there’s a chance you experienced quite an unusual ride to work.
A massive water main break in Cabin John, Maryland, near the communities of Potomac and Bethesda, unleashed the flood during rush-hour Tuesday morning.
The water main, 66 inches in diameter, unleashed the wall of water just before 8 a.m. that, at its height, was four feet high and 60 to 70 feet wide, Montgomery County police said.
Or you live in Tennessee and had to move out of your home as a result of toxic sludge:
A wall holding back 80 acres of sludge from a coal plant in central Tennessee broke this week, spilling more than 500 million gallons of waste into the surrounding area.
Environmental Protection Agency officials are on the scene and expect the cleanup to to take four to six weeks.
The retention wall breached early Monday, sending the sludge downhill and damaging 15 homes. All the residents were evacuated, and three homes were deemed uninhabitable.
Or you live in Atlanta and are still shaky after a pedestrian bridge collapsed five days ago. Perhaps even you live in New Orleans and you remember when the levees broke. Maybe your children go to a crumbling school, you have no form of public transit in your town, you sit in traffic for four hours a day and spend more money on gas then you make in a days work. The best thing about rebuilding American infrastructure is that it is a populist approach to improving the daily lives of Americans, it will ultimately benefit everyone. How Obama is that?!
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So watching the flood waters on CNN Breaking News Flash Drama Screen at my local coffee shop yesterday, I was once again forced to ask myself: Is it possible Obama really is blessed?










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