Archive for February, 2009

02/22/2009

Stimulus:Race,Blacks,Women and Others

by James Jett

We are in this messy financial condition where this country is allocating, donating or being robbed to solve the problems occasioned by the rich and greedy. They claim that these funds will get this country back on sound economy footing. We are allocating money because the rich and powerful have robbed the businesses they were tasked to manage. Now that the decisions they made, or failed to make, have totally destroyed the company’s ability to operate and  pay for material and labor and earn a profit, they came to the federal government in groups asking for money to pay the high salaries and bonuses that they enjoyed while the governmental agents assigned to oversee and monitor the companies they controlled, failed to do so or looked the other way, as management repeatedly raided and robbed the company to pay the salaries and bonuses that they did not earn nor deserve. The people employed to work at the firm and the people hired to supervise the employees working at the company are there to make a product or provide a service and sell to consumers  at a price that generate a profit.  If managements fail to earn a profit because sales were low or operational costs were too high, meaning they sold the product or service at the wrong price, then only management is at fault and should be blamed and held responsible.

The only group of people, being helped by the Stimulus is the rich and very wealthy on Wall Street, in banking and automobile manufacturers.  The people that wrote the bill and added the enabling legislation, know where all the money is going and who will “go to the bank” and improve their living conditions, and it is not the poor and the needed! The small amounts of money that land in the hands of the poor is gone in the next seventy two hours. All or most of that money returns to the rich and greedy and some to the poor again as pay checks for  the next payday. The poor, and the low and middle income living in the area receives about 40 percent of the money in the form of pay checks, circulated,  into the neighborhood each payday. Historically, when the funding terminates the last dime leave, never to return to that community again.
I have watched all the business news, listen to discussions about the problems the country is confronted with today and read articles about the rights and wrongs in the government’s efforts to help the companies in need of funds to remain open and operating. Or let them fail and fold, because the people in charge failed to manage, supervise and make wise decisions to enable the company to earn a profit. To bail them out is to reward them for failure. Although, I am keenly aware of the opportunities denied too many Identifiable groups (women, Blacks, Asian and others) to own a bank, a manufacturing company that builds  automobiles or an investment firm that could have been key, in getting other minorities into business and providing jobs for the citizens living in that community. It seems to me.  It would be more hopeful; as we give the economic a boost, if we would keep our eyes on the American Dream by working with the state, county and city governments to locate field offices in selected locations in each state. Invite would be owners and buyers to submit proposals to take over the ownership of the failing businesses. Many women will make lists of names that would have someone getting in touch with Oprah, Katie Couric and other women that may support their effort to become owners of a bank. Black men calling, emailing and meeting with people that can contact Mr. Bill Cosby, Tiger Woods, Magic Johnson and Michael Jordan because they believe they will be a source of funds to buy an auto manufacturing company.  Maybe the first time, Blacks, Asians and others could really get into a discussion about purchasing an investment firm. All of these procedures would give women and minorities a chance to become business owners. And this action, would not cost enough to increase the national debt!