DANIEL AKAKA AND DANIEL INOUYE SUPPORTED BY MONSANTO......They Received FUNDS...........
Voice
Reminders of the two Genocide Activists:
Behind the Blinds at...
Central Pacific Bank
Sightings from The Catbird Seat
~ o ~
Central Pacific stock falls;
Fitch cuts rating
By Dave Segal, Star-Bulletin
Central Pacific Financial Corp.'s stock lost more than 20 percent of its value yesterday as it continued to free-fall on the heels of last week's announcement that it lost $183.1 million in the third quarter and that it was anticipating enforcement action to be taken against it by federal and state regulators due to the bank's financial condition.
The parent of Central Pacific Bank received more bad news after the market closed. Fitch Ratings downgraded the long-term issuer default rating of the bank to "CCC" from "B," and Standard & Poor's said, effective Monday, it will replace Central Pacific in the SmallCap 600 Index with Compellent Technologies Inc., a network storage solution provider.
Bank officials did not return calls yesterday for comment.
Central Pacific's shares have given up more than half their value since the bank said Thursday its commercial real estate portfolio in the California and Hawaii markets continues to deteriorate and that it expects the economic conditions to persist through the coming quarters. The company also said it expects to enter into a formal agreement with the Federal Deposit Insurance Corp. and theHawaii Division of Financial Institutions over the bank's need to address its asset quality, capital needs and liquidity.
Fitch said the downgrade of the bank's rating reflects the significant escalation of credit problems both in its California and Hawaii loan portfolios.
"While Fitch expected the company to endure increased credit stress in its Hawaii portfolio, as well as in its still-sizable exposure to California real estate, the recent level of deterioration exceeded Fitch's original projections," the agency said. "Credit deterioration, which is not expected to abate in the near term, has generated sizable losses and caused considerable erosion to the bank's capital position.
"Fitch believes that the company will continue to generate material losses, which will continue to erode capital and reduce the benefit of any potential capital augmentation."
Central Pacific Chairman and Chief Executive Officer Ron Migita said Thursday the bank is exploring all options to raise additional capital, including a public offering and selling shares to private-equity investors.
"We're raising capital to meet the challenge in a difficult economic climate so we can navigate through this downturn and emerge as a stronger bank when the economy recovers," Migita said. "We think things on the mainland appear to be stabilizing somewhat, but the Hawaii economy traditionally has lagged the mainland, so until such time that the (Hawaii) unemployment level stops increasing (7.2 percent in September) and jobs are being created, I think we're going to be in for some challenging times here in Hawaii."
But Fitch said that the prospects for raising sufficient equity from external sources to absorb expected losses and meet enhanced regulatory capital requirements are limited.
Fitch said the bank is now in violation of existing regulatory agreements, which call for the bank to maintain enhanced capital levels that exceed the minimum regulatory requirements to be considered "well capitalized." Fitch said the bank no longer is maintaining a leverage ratio of 9 percent.
S&P, meanwhile, said it was replacing Central Pacific in the index because the company's market share had fallen below the minimum market capitalization of $35 million to remain in the index. The market cap necessary to be added to the index is currently $200 million.
Central Pacific's stock fell 21.3 percent, or 30 cents, to $1.11 yesterday on the New York Stock Exchange after trading as low as $1.04. Its market cap is now $31.9 million.
Analyst Joseph Gladue of B. Riley also cut his rating on the stock to "neutral" from "buy" and lowered his target price to $1.50 from $3.50, while analyst Robert Bohlen of Keefe, Bruyette and Wood maintained his rating on the stock at "market perform" but lowered his target price to $1 from $1.90.
"Joe Jap" Inouye Pulls a SLY ONE, A Terrorist Move on Kanaka Maoli, the "newly created Indians"....WICKED!
Pilipo posted this:Sunday, October 30, 2011 Sneak Attack: Inouye hides Akaka Bill in Policy Rider -- just after “Grazing Permits”
By Andrew Walden :: 568 Views :: Hawaii State News
, Hawaii State Politics
, National News
, National Politics
by Andrew WaldenDan Inouye’s Akaka Bill sneak attack was smacked down in December, 2009
and again in December, 2010
—but he’s back for one more try.Inouye’s latest version of the Akaka Bill popped up October 14. It is a single paragraph. Buried on page 124 in a proposed Senate Appropriations Committee draft bill for “Interior, Environment, and Related Agencies Appropriations
” it comes just after “Extension of Grazing Permits”:Section 104 of Public Law 103-454, also known as the “Federally Recognized Indian Tribe Act of 1994” requires the Secretary of the Interior to maintain a list of Federally Recognized Indian Tribes.Act 195 created a five-member commission—now headed by gambling advocate
,Clinton Asian Money Scandal player
, and Broken Trust figure John Waihee
--to enroll “Qualified” native Hawaiian constituents according to a long list of criteria which exclude about 73% of native Hawaiians
.Inouye’s version, in conjunction with Act 195, creates an instant Indian tribe with no restriction on the right to claim legal jurisdiction and exclude state law enforcement over its members. It was these characteristics, introduced beginning with the 2009 version of the Akaka Bill, which forced long-time Akaka Bill supporters Governor Linda Lingle and Attorney General Mark Bennett to reverse their stance and come out in opposition.When native Hawaiian protesters accused Inouye of trying to sneak the Akaka Bill into a 2009 defense appropriations bill, Inouye called the allegation “nonsensical” and claimed the process for the Akaka Bill “has been fully transparent.” Senator Akaka told reporters: "It is very frustrating that opponents intentionally seek to spread misinformation about the bill. This should call their credibility into question once again." But two years later theStar-Advertiser headline is: “Akaka OKs Native Hawaiian recognition strategy
.”In the text of his statement
Thursday, October 27 to a convention of the Hawaiian Civic Clubs, Akaka told convention-goers: “As a result of the enrollment process which is already beginning under Act 195, I am now reviewing my bill and looking for ways to streamline it.”Akaka didn’t see fit to mention that his bill had two weeks earlier been “streamlined” down to a single paragraph and slipped in right after Grazing Permits by Senator “Transparency
”.The only thing that is “transparent” is the admission by Akaka Gang leaders that the Akaka Tribe is not a tribe. Hawaiians are not and never have been tribal.Inouye’s one-paragraph Akaka Bill refers to a ”community”, not a tribe. This follows several months of candid admissions by Akaka Gang leaders. The Star-Advertisereditorialized July 11
:Sen. Malama Solomon, an Akaka Gang leader, self-described “friend” of the Big Island’slargest methamphetamines importer
, and gambling advocate recently busted forbulldozing Hawaiian archaeological sites
, explained July 1
: “Hawaiians are very different from the American tribes; we had a kingdom that was recognized by the United States and many other nations around the world before the overthrow.”And who will be in charge of deciding which Hawaiians are “qualified”? Akamai readers will of course instantly recognize Waihee as the author of
a 1995 proposal to relocate the Broken Trust Bishop Estate Headquarters to the Cheyenne River Sioux Indian Reservation. Instead of moving to an Indian Reservation the Broken Trust gang is trying to assemble an Indian reservation around themselves. Waihee is in charge
of ensuring that only politically trustworthy cronies are deemed “qualified.”Now, with a single paragraph slipped into page 124 of an 181 page bill, Senator Dan Inouye is attempting to trick Congress into ratifying the entire scheme. And once again, Hawaii is depending on Republican Senators to save us from our own Congressional Delegation.---30---- SB1520 SD2HD3CD1, signed into law as Act 195
- Full Text: Draft of FY2012 Interior, Environment(see page 124)
- US Senate: Reed and Murkowski Release Draft of FY2012 Interior, Environment, and Related Agencies Appropriations Bill
- 2009: Inouye denies planning "Akaka Bill Sneak Attack"
- 2010: Another Akaka Bill sneak attack? GOP Senators tell Inouye to back off
- Qualified Native Hawaiians: More than 73% of Hawaiians not "Qualified" for membership in Akaka Tribe
- Shapiro: Hawaiian “Haves” vs “Have-nots” take opposite sides on so-called Hawaiian Recognition Bill
- Reservation for a Broken Trust?
- Akaka: Act 195 Allows Streamlining of Akaka Bill
By Hawaii Free Press @ Monday, October 31, 2011 4:19 PMComments from the following blog entry: October 31, 2011 News Read
, located at: http://www.hawaiifreepress.com/ArticlesDailyNews/tabid/65/articleTy...
By Hawaii Free Press @ Tuesday, November 01, 2011 1:03 PMComments from the following blog entry: Akaka Introduces Bill to Give Tribal Authorities Legal Jurisdiction...
, located at: http://www.hawaiifreepress.com/ArticlesMain/tabid/56/articleType/Ar...
****************************************fyiWith the Permanent Friendship Treaties still in place...................."Joe Jap" Inouye and Congress Friends are Not the Parties to the EXECUTIVE AGREEMENTS in place but a documented Genocide Activist, a Terrorist against a Neutral, Non Violent, Friendly Nation..........and all of you who don't know.................my great grandfather was documented"JOE JAP" in the marriage records of my grandfather...........he arrived here in 1868, with about seven (7) others who fled Japan because they were going to use him as a Eunoch in the Palace............we would not exist if he did not arrive here and marry our part Hawaiian Alii great grandmother.Great grandfather was from Yamaguchi Japan - the Heike clan who ruled Japan for nearly 300 years....................his full name was Matsugoro Takeshita, "Goraimo" - a master swordsman - Samurai......so, I can call Inouye "JOE JAP" too.................fyi.............Opposition to Inouye is hereby made, information posted for PUBLIC NOTICE.........aloha.p.s. we have relatives in Japan..........a Japanese Professor was looking for our family branch...........and we are here............mixed bloodlines with the Kamehameha's, Kalaniopuu's, the Royal Families in the Hawaiian Islands..........and Friendship Treaties with Japan, et. als. continue.........Nation to Nation, our Neutral, Friendly, Non-Violent, Friendly Nation ............the HEADS and the King's HEIRS and SUCCESSORS....Opposition to the Akaka remains.........Sincerely,Amelia Gora, a Royal Person, a living human being,One of the Representatives of the Hawaiian Genealogical Society/Hawaiian Genealogy Society- SB1520 SD2HD3CD1
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- Reminder that the two Genocide Activists continue to perpetuate the frauds, criminal deviance from the past, etc.:THE HAWAIIAN DISGRACECASE HISTORY HAWAIISHAMEFUL CONSPIRACY (PIRACY)SAYS GOVERNMENT SUPPORTS TRUSTS - President Cleveland Gave Hawaii Back to Queen LiliuokalaniThis is Pilipo's Message to also remind many:Aloha kakou,If you have seen the new Fake State versions of Akakadized, you are missing a great circus. In the year 2000, the Hawaii U. S. Congress members came home to Hawaii to "Island-wide" Public Hearings on the proposed Akaka Bill but never left Oahu. The Bill then with all its professionalism was primitive compared to what is now at the Fake State 2011 Legislature. SB1, SB1520 and HB 1627 all are proposed Legislation at the current session. There may even be others. This is sometimes known as "miss the chicken, crack the duck" syndrome, basically what ever gets pass has the same effect.These Bills may be slightly worded differently but they all mean the same. It is almost like voting for Statehood again, where no matter what version you choose, you were cooked. For example, lets take a look at HB1627. From its first page, Section 1, Chapter "First Nation Government" is incomplete where it only discloses what the United States did to make themselves look good and descent but fails to disclose what the United States did to make the Hawaiian Nation look bad and unworthy. The First Nation of Hawaii did not begin the day after the alleged overthrow of the Hawaiian Kingdom Nation January 17, 1893. The First Nation began with the consolidation of the Hawaiian Sandwich Islands by King Kamehameha the Great in 1809 but that is mute.Section 2 of the proposed bill is Definitions, as used in this chapter: glosses-over of what is the definition of a Native Hawaiian. Existing Federal laws certify a Native Hawaiian is one with at least 50 % aboriginal (Kanaka Maoli) blood (koko) However, "First nation government" means the governing entity organized pursuant to this chapter by the qualified Native Hawaiianconstituents, and "Native Hawaiian membership organization" means an organization that lists five activities. But the camel's backbreaker is the definition of "Qualified Native Hawaiian constituent,which means, prior to the recognition by the United States of the Native Hawaiian governing entity, an individual who satisfies the following criteria and who makes a written statement certifying that the individual "IS", not and/or, an individual that meets twenty (20) specific conditions which designate one being "qualified Native Hawaiian constituent or member of.This is "Akakadized" All the bills say the same ting. They are a 'Ajinimoto" versions of the Akaka Initiative of 2000, aka the Akaka Tribe. But too late for there is already a Hawaiian Tribe that is in agreement with the Department of Indian Affairs known as the Hou Hawaiians back in the 1997. These bills are a conglomerate of ingredients that reads like a Chinese menu or a Pharmaceutical remedy for cancer. Yes, the Akaka Pill that will once and for all cure all Hawaiians ills.But the final nail in the coffin is definition (4) "Is a citizen of the United States residing in the State of Hawaii or resides outside the State of Hawaii. This mandate coincides with the voting requirements in the formulation of the Republic of Hawaii in 1894 where voters where required to swear an oath of allegiance to the newly formed Republic and its Constitution before they could register to vote.The original Akaka Bill could not muster Constitutionality, nor can any other form of legislation by the Fake State Hawaii Legislature. Above and beyond all, the Akaka Initiative and all forms of legislation and enactments concerning the the Hawaiian Nation of Ko Hawaii Pae Aina are based upon fraud that has perpetuated theft for 118 years.I have sent you this in case you are falling asleep and in need of agitation to wake you up.malama ke kinopilipo,Hawaiian National (1936)************************************************Documenting Genocide Activities/Activists....
Something STINKS...............(.and I know it's NOT ME) WICKED TO THE MAX!aloha.
http://www.youtube.com/watch?v=qGKx2LNbF5M
Sudden Rush- Messenjah's (Feat.Amy Hanaialii Gilom)
Sudden Rush- Messenjah's (Feat.Amy Hanaialii Gilom)by sablancpm 2 years ago 4,201 viewsViews: 4Something STINKS...............(.and I know it's NOT ME) WICKED TO THE MAX!aloha.http://www.youtube.com/watch?v=qGKx2LNbF5M
Sudden Rush- Messenjah's (Feat.Amy Hanaialii Gilom)
Sudden Rush- Messenjah's (Feat.Amy Hanaialii Gilom)by sablancpm 2 years ago 4,201 views
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Bill to “Ban” Organic Farming
Youtube
Monday, March 9, 2009Bill is to long to post, so I linked to a .gov pdf of itPay special attention to* Section 3 which is the definitions portion of the bill-read in it’s entirety.
* section 103, 206 and 207- read in it’s entirety.What it Does:* Legally binds state agriculture depts to enforcing federal guidelines effectively taking away the states power to do anything other than being food police for the federal dept.
* Effectively criminalizes organic farming but doesn’t actually use the word organic.
* Effects anyone growing food even if they are not selling it but consuming it.
* Effects anyone producing meat of any kind including wild game.
* Legislation is so broad based that every aspect of growing or producing food can be made illegal. There are no specifics which is bizarre considering how long the legislation is.
* Section 103 is almost entirely about the administrative aspect of the legislation. It will allow the appointing of officials from the factory farming corporations and lobbyists and classify them as experts and allow them to determine and interpret the legislation. Who do you think they are going to side with?
* Section 206 defines what will be considered a food production facility and what will be enforced up all food production facilities. The wording is so broad based that a backyard gardener could be fined and more.
* Section 207 requires that the state’s agriculture dept act as the food police and enforce the federal requirements. This takes away the states power and is in violation of the 10th amendment.
****************************also see AgricultureLaw.coml fyi:
http://www.agriculturelaw.com/ the BIOFUELS is what MONSANTO's purpose in Kunia also:
Posted By Keith Good On January 13, 2012Budget IssuesDamian Paletta reported in today’s Wall Street Journal that, “The White House notified Congress on Thursday that the government was near its $15.194 trillion borrowing limit, ushering in the debut of procedural theater in which the debt limit will ultimately be raised even if Congress votes against it.“Formal notification by the administration gives Congress 15 days to disapprove of an increase, or the debt ceiling would automatically adjust up an additional $1.2 trillion.“But under procedures resulting from last August’s budget agreement that sought to avoid a government default, President Barack Obama could issue a veto, and the ceiling would rise even if Congress moves to block it.”The Journal article explained that, “The government likely wouldn’t need to raise the debt ceiling again until late 2012 or early 2013.“As of Tuesday, U.S. debt was just $25 million below the debt ceiling. The Treasury Department already had begun emergency measures to delay hitting the debt limit while it waited for Congress to return from its holiday break for a vote.”Today’s article added that, “Congress keeps increasing the debt ceiling because the U.S. government spends more money than it brings in through tax receipts. The government ran a $1.3 trillion deficit in each of the past two fiscal years, though the deficit is expected to shrink slightly this year as the economy improves.”And yesterday’s Need-to-Know Daily Email from National Journal reported that, “House and Senate staffers who are working on the conference on the payroll-tax bill convened on Wednesday as a group, even though the 20 payroll-tax conferees themselves have not yet met. Sources tell National Journal the meeting ran for about 30 minutes and members plan to meet sometime during the week of Jan. 24—the week the Senate returns from recess.”Ed O’Keefe noted earlier this week at the Federal Eye Blog (Washington Post) that, “Whether you believe the size of the government is too big, too small or just right, make no mistake: Strict spending restrictions enacted as part of last summer’s debt negotiations coupled with a White House eager to demonstrate a serious commitment to spending cuts means several agencies are trimming the payroll.“In the most aggressive reorganization of a non-security agency announced to date, the Agriculture Department unveiled plans Tuesday to close 259 domestic offices across the country and seven overseas offices, mostly in tiny rural farming communities that will be served by other nearby locations.“The closures are part of plans to save about $150 million annually in the department’s $145 billion budget. Already $90 million has been saved by cutting travel and supplies; the closures could save up to $60 million, officials said.”Rep. Collin Peterson, D-Minn., the Ranking Member of the House Agriculture Committee was a guest on yesterday’s AgriTalk radio program with Mike Adams. During their discussion yesterday, Rep. Peterson briefly commented on USDA plans to close some FSA (Farm Service Agency) offices- related audio here (1:19).Agricultural Economy (Government Reports, Food Prices)A news release yesterday from USDA’s National Agricultural Statistics Service (NASS) stated that, “Hindered by unfavorable planting and growing conditions during 2011, U.S. farmers produced a smaller crop than the previous year according to the Crop Production 2011 Summary released today by [NASS].“Depending on location, producers in the United States battled everything from drought and above normal temperatures to heavy rains and lowland flooding which led to decreased production of corn, soybeans, cotton and wheat – the first time such a year-to-year decrease has occurred in all four commodities since the 2002 crop year.”The release indicated that, “Corn production totaled 12.4 billion bushels, down 1 percent from 2010. Corn yield in 2011 is estimated at 147.2 bushels per acre, 5.6 bushels below last year’s average yield. Area harvested, at 84.0 million acres, is up 3 percent from 2010.“Soybean production for 2011 totaled 3.06 billion bushels, down 8 percent 2010. The average soybean yield is estimated at 41.5 bushels per acre, 2.0 bushels below last year’s yield. Harvested area for soybeans in 2011, at 73.6 million acres, is down 4 percent from 2010.”More specifically, an update posted yesterday at the farmdocdaily blog (“USDA Reports Negative for Crop Prices,” by University of Illinois Agricultural Economist Darrel Good), stated that, “Today, the USDA released the December Grain Stocks report, the Annual Crop Production report, the Winter Wheat Seedings report, and the monthly WASDE report. The reports reflected a more abundant supply situation for corn and particularly for soybeans than had been anticipated. Wheat estimates provided a more mixed picture.”The update noted that, “Year ending stocks of corn in the U.S. are projected at 846 million bushels, nearly identical to last month’s projection, but the forecast of the marketing year average price was reduced by $.20, in a range of $5.70 to $6.70.”The farmdoc daily update added that, “Year ending stocks of U.S. soybeans are projected at 275 million bushels, 45 million larger than last month’s forecast, and the marketing year average farm price is forecast in a range of $10.95 to $12.45, compared to last month’s projection of $10.70 to $12.70.”(Note that a summary of key variables for corn from yesterday’s WASDE report is available here, while a soybean summary can be found here).Yesterday’s update pointed out that, “Prices were expected to decline sharply following the release of the reports since the trade did not anticipate the estimates very well. The progress of the South American corn and soybean crops will now be a major focus of the markets.”AP writer Roxana Hegeman reported yesterday that, “Wheat prices tumbled Thursday as a government report showed the nation’s farmers had planted winter wheat on much more of their land this season amid last year’s higher prices and easing drought conditions in Kansas, Oklahoma and Texas.“Across the country, the amount of winter wheat planted for harvest in 2012 was estimated at 41.9 million acres, the National Agricultural Statistics Service reported Thursday. That is an increase of 3 percent from 2011 and up 12 percent from 2010.”In a more general summary of the implications of the data contained in yesterday’s government reports, Ian Berry and Scott Kilman reported yesterday at The Wall Street Journal Online that, “Higher global grain supplies could signal more downward pressure on food prices after an influential U.S. government report pointed to larger-than-expected domestic stocks and lifted harvest estimates for Europe and Asia.“A raft of monthly and quarterly reports released Thursday by the U.S. Department of Agriculture eased concerns about the impact of drought on crops in South America, sending ripples through the agribusiness sector as grain futures fell sharply.”Likewise, Gregory Meyer and Emiko Terazono reported yesterday at The Financial Times Online that, “[T]he US reported that its domestic production and stocks of corn, a key commodity for the global food chain, were higher than previously thought, sending prices sharply down.”The FT article added that, “Darrel Good, agricultural economist at the University of Illinois, said consumers would see stable food prices. ‘The increase in commodity prices that we have experienced in recent years has now been pretty much fully passed through to the consumer.’”The AP reported yesterday that, “Pricier corn has been a key driver of food inflation this year. When grain prices rise, food processors and meat companies tend to pass on the higher costs to consumers. It usually takes about six months for changes in corn prices to trickle all the way down to the retail level.“The USDA estimates that food prices rose between 3.25 percent and 3.75 percent last year.“The USDA predicts that food inflation will slow, dropping to between 2.5 percent and 3.5 percent for all of 2012, according to its most recent estimate.”Meanwhile, Bloomberg writer Rudy Ruitenberg reported yesterday that, “World food prices fell to a 14-month low in December, led by declines in grains, sugar and oilseeds, the United Nations’ Food and Agriculture Organization said.“An index of 55 food items fell 2.4 percent to 211 points from a revised 216.1 points in November, the Rome-based FAO said on its website today. The month-earlier figure was revised from 215 points, while October was restated at 215.8 points from 216.“Food prices will probably decline this year, Jose Graziano da Silva, who became FAO director general this month, said Jan. 3.”In other developments, a news release yesterday from University of Missouri Extension stated that, “Against a backdrop of economic uncertainty, U.S. agriculture last year stood as a shining example of growth.“2011 set records, with net farm income topping $100 billion for the first time ever.“‘Prices are up across the board for all the major crops, and while we’ve seen cost of production increases overall, they haven’t increased as rapidly as the prices of crops people are selling,’ said Pat Westhoff, director of the University of Missouri Food and Agricultural Policy Research Institute (FAPRI). ‘Even corrected for inflation, farm profits are at or near the highest levels since the 1970s. That is indeed a very good outcome overall.’”After additional analysis, yesterday’s news item concluded by pointing out: “‘There are lots of things that could go wrong in front of us, and instead of $5-$6 corn, $3-$4 corn could return,’ Westhoff said. ‘We’re very much in a volatile situation, and what people think about the markets today will be different than six months or a year from now.’”Policy IssuesAs noted earlier, Rep. Collin Peterson was a guest on yesterday’s AgriTalk radio program. In addition to remarks on USDA budget developments, Rep. Peterson also explained how he sees the next Farm Bill progressing (audio- 4:35).And Rep. Peterson also discussed proposed changes in dairy policy in more detail (audio- 2:52).In other policy news, Reuters writer Sybille de La Hamaide reported earlier this week that, “The world body in charge of fighting animal diseases called for action against widespread abuse of antibiotics in livestock farming, which leads to drug-resistant bacteria, but warned on Wednesday that a ban would leave the world short of protein.“‘The use of antibiotics is today essential to ensure sufficient animal production to feed the planet. Without antibiotics there would supply problems of animal protein for the human population,’ Bernard Vallat, director of the World Organization for Animal Health (OIE) told a news conference.”Meanwhile, the Los Angeles Times editorial board opined today that, “When the U.S. Food and Drug Administration restricted the routine use of a class of antibiotics known as cephalosporins in livestock, it picked an easy target. The agency’s move is better than nothing, but nonetheless it is a reminder of the FDA’s achingly slow and timid efforts to wean agriculture off the overuse of important medications. Call it a tiptoe forward after a recent giant step in the other direction and a long era of standing in one place.”BiofuelsThe editorial board at the Chicago Tribune stated yesterday that, “As 2011 gave way to 2012, Congress let tax credits and import protections expire for one of its most pampered industries: ethanol. Now, there’s a good reason for fireworks on New Year’s Eve.“For decades, the motor fuel brewed from corn has enjoyed an uninterrupted run of corporate welfare. That’s finally being curbed. But don’t think Congress has entirely put economic and fiscal realities in front of political calculations. The ethanol industry still has plenty of influence and plenty of government-directed advantages in the market.”The Tribune pointed out that, “Example: Back in the boom time of the mid-2000s, technology entrepreneur Vinod Khosla led an investment group that convinced the Feds to put up $46.3 million in grants and $42 million in loan guarantees for a factory in Georgia that would turn wood pulp into ethanol.“The plant went bust last year. The shuttered facility has just been sold for $5.1 million … to another Khosla-affiliated group, which pledges to use it for a different alternative fuel operation. No wonder Khosla is a billionaire and Uncle Sam is $15 trillion in debt.”The unusually lengthy editorial also indicated that, “Alas, the cellulosic ethanol industry has received an estimated $1.5 billion in federal subsidies … and come up dry. No cellulosic ethanol is being produced in commercial quantities. Not a drop. Even Solyndra, the infamous green-energy company that burned through hundreds of millions in tax subsidies, at least sold some solar panels.“This page understands that government support for research and development is crucial to American innovation. No one expects a perfect track record. No one expects technological breakthroughs to proceed on a convenient timetable. But buying into the same promises, again and again? What a waste.“The government shows no sign of turning off the cellulosic-ethanol spigot. Last month, the Energy Department approved $80 million for a wood-to-ethanol plant in Michigan. So the bureaucrats who backed Georgia pine (See: Khosla, Vinod) with your money now are betting your money on Michigan hardwood,” the editorial said.Keith Good
News Archive
We believe that America's farmers and ranchers will support the most enlightened governmental policies when given timely, accurate and complete information. Therefore, it is our goal to make available to them at no cost the same information that is used by lawmakers and USDA officials.
aloha.aloha.
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- ETC. (More Toxins in the News)...................everyone living near gas stations needs to check if contamination is leaking there............plus independent groups testing the groundwater is also necessary.............aloha.
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