October 26, 2006
Major Oils to Lease America’s Military Assets
(excerpted from “Capitalist Congruency in Ethical Accounting”, Chpt. V)
Two decades ago corporate taxes comprised 20% or more of America's tax receipts. Now they contribute in the 7% range. Much of this has been attributed to sale and leaseback boondoggles? However....?
What if the major oil companies were to do a sale and leaseback on the military assets of the United States of America? For a modest cash outlay of say three trillion dollars, which the oil companies easily have or have access to, they could depreciate all of America's tanks, ship, planes, Humvees etc and shield 100% of their obscene profits from taxation while hugely reducing the knee-buckling nation-sapping debt built up by the GOP.
As opposed to other legally deficient corporate schemes such as leasing European trams or worse yet European sewer systems this scheme can be said to actually pass a significant tax accounting sniff test. A junior tax attorney could easily make the case that such military assets are actually employed integral to the oil companies operations.
Throw stock options for the troops in with combat pay and “stay the course” might yet again, cha-ching, have a nice ring to it.
Labels: Creative Writing
“Capitalist Congruency in Ethical Accounting"
Labels: Creative Writing
October 25, 2006
Kenny Boy Took It With Him
Ken Lay, the Houdini of sleight-of-hand accounting performed the Impossible for his last act.
"You can't take it with you" is axiomatic to dying.
Kennie Boy's estate, due to his conviction, owed $45 million right up to the moment he took his last living breath.
But because his appeals had not been granted their day in court his estate's debt to all those Kenny had defrauded was expunged.
The estate keeps the $45 million.
Give credit where credit is due.
Labels: Creative Writing
October 24, 2006
Laura Bush Admits Hubby's Nocturnal Woes
“What does he shout?” Well, it used to be “stay the course” but now it’s almost always,”
“I did not have sex with that country!”
October 19, 2006
Camel Thongs Don’t Cut the Mustard
“Lookee here Mister Chief Native, I’ll trade you guns and firewater for the land you call “Gusher Canyon”. You know which area I mean, where we put up those oil derricks years ago.”
“Sorry, today is a Sacred Day, ’all praise to Mother Bear‘.”
“Look, screw a bunch of Sacred Days, we’ll throw in fifty aisles worth of jeans. Your daughters will love em, especially the low hippers so’s their little belly buttons can get some air.”
“Not possible, today is sacred day, ‘bless brother antelope.’”
“All right, for Christ sake, you’re killing us. We’ll give you guns, firewater, three Wal Mart’s of enticing jeans, a gross of Estee Bauder nipple and labia piercing Pierce-o-matic Pro Guns, ten tattoo parlors fully equipped and an era’s long subscription to Rap music from both the “Dysfunction Is Me’ and “Misogyny Rocks” labels. And you get bison and camel thongs. Camel thongs from “Allah’s Little Secret” label in every color under the sun. Now do we have a deal?”
“Today is Sacred. All praise our ancestors.”
“Praise your arse. I’ll be back tomorrow. We’re not going away, you know that.”
“Tomorrow is a sacred day.”
“Up your sacred days.”
“Everyday is a sacred day, kneel and bow to the East.”
“Bullshit on your every day is a sacred day horse pucky. You can stick Mother Bear you know where. There’s something you guys want and I’m gonna find out what.”
“Everyday is a sacred day. However.....”
“Yes, yes sacred, totally sacred, but ‘however’ what? You son of a sacred snake, ‘however’ what? What is it you’re considering?”
“Well, remember that line of fissionable material you showed me.... maybe just one more little peek.”
“Tex’, help, we done got us a problem. We’re gonna be here til the cows come home and listen to me for once, jeans and camel thongs are not cuttin’ the mustard.”
"Bubba, shut your trap with the mustard bullshit. These fucks don't have hot dogs. Even I know that."
October 17, 2006
Democratic Party Plans Dominate Iraq Strategy
"Redeployment" is now the leading strategy for Iraq with a bipartisan world-wide cast coming on board.
Jack Murtha, a Democrat, at some personal political risk announced that "our presence in Iraq has become the cause, not the cure, for much of the violence." This has now been openly confirmed by bipartisan leaders, including most forcefully by Britain’s Army Chief of Staff.
Murtha's wisdom is now a major policy plank for an Iraq solution. Murtha, a Democrat, was the first to call for implementation of a plan to "redeploy." This, a Democratic plan, is becoming the majority opinion strategy for Iraq.
When the GOP and Joe Lieberman attempt to paint Democrats as weak on terror and having no plans for Iraq solutions it only serves as a continuing illustration of their bankrupt and inept foreign policy.
"Stay the Course" has put our Troops in harm's way. "Stay the Course" has hamstrung our now openly angry and frustrated Military leadership. "Stay the Course" has now been openly exposed for what it is, a disingenuous mantra employed by the GOP for political gain.
Democrats have changed the debate and the strategy for Iraq.
Labels: Bush Admin
October 14, 2006
FASB and SEC Mull U.S. Exec Pay Accounting Change
America's accounting chiefs are close to deciding that salary and perks exceeding two million dollars annually can not rationally be deemed pay for work expended. Payouts of five million to hundreds of millions would quite boggle the minds of both Adam Smith and Karl Marx, said one insider, "off, off, off the record."
Going forward, the recommendation will be that executive remuneration exceeding two mil annually will be construed as a disbursement of corporate capital in amounts agreed to by boards, directors, trustees and not so trust-ees as the case may be.
The new accounting Pronouncement will reflect that mega salaries in excess of the maximum two mil will be considered as an allocation of corporate capital which will no longer qualify for accounting treatment as a corporate expense.
A number of CEO's have formed a study committee particularly in response to the IRS position of "You can call it capital or you can call it Swiss cheese, we're still taxing exec' pay at the highest personal rate possible."
"There's a fundamental lack of fairness here," whinged the corporate CEO's. They also pointed out, "even embezzlement is treated as a deductible expense."
Sharehoders, mostly wearing Abu Ghraib style hooding to protect their identities, were cautiously pessimistic.
October 12, 2006
OIL COMPANIES TO LEASE AMERICA’S MILITARY ASSETS
If an exec gets a perk like a new car or excess moving expenses the corporation bumps up their pay to cover the tax consequences. When the GOP passes tax givebacks such an exec ends up making a profit from the perk-tax-grossup maneuver. Cute eh.
If the cabal of CEOs, Corporate Boards, Directors, Money managers and Bankers conspire to remunerate leading execs (technically embezzle) 5,10,15 or 100 $Mil a year why couldn't FASB and the SEC make a ruling that anything over say two mil a year is actually a payment of or from the corporation's capital. Thus it would not be pay for services and it would not be a corporate deductible expense.
How about if the major oil companies do a sale and leaseback on the military assets of the United States of America? For a modest cash outlay of say three trillion dollars, which the oil companies easily have or have access to, they could depreciate all of America's tanks, ship, planes, Humvees etc and shield 100% of their obscene profits from taxation while hugely reducing the nation-sapping debt built up by the GOP. As opposed to other legally deficient corporate schemes such as leasing European trams or worse yet European sewer systems this scheme can be said to actually pass a significant tax accounting sniff test. In this case a sophomore tax attorney could easily make the case that such military assets are actually employed in the oil companies operations.
Wouldn’t it be nostalgic to be long in dollars and make a killing?
Craig Johnson 10/12/06
Labels: Oil Iraq Policy
IS SADDAM'S FUTURE ON AN UPTICK ?
Who has gotten rid of Saddam? No one has gotten rid of Saddam.
As conventional wisdom begins to masticate a Tri-Part Iraq, which oddly was a plan first proffered forcibly by a Democrat, someone had better think through a couple of the moving parts and their all too likely consequences.
To wit, the Shia portion of the Tri-Part solution will come to rule with a component of Theocracy and a component of brutality, i.e. force under arms. The Kurds will continue with their existing autonomous political and military structure.
Arms and brutality will also, absolutely, have to be a component of the nascent Sunni Tri-Part element. What will this element look like? Who will be its leaders?
If this Tri-Part element is to be wholly Sunni it follows, as night follows day, that the previous in-control Bathist leaders, presently called insurgents, will gain or regain enormous sway.
If you wish to envision a scene of unimaginable incompetency and failure then simply follow the consequences of allowing a nationalistic Sunni entity to reform.
Saddam lives. He is now neutered. But if by some act of Kafkaesque incompetency the Sunnis reform politically he may again become a source of influence. If this transition from today's abject failure in Iraq to tomorrow's "Experiment To Win" plan is botched it may become politically impossible to execute Saddam.
That Saddam is no longer in power is the only surviving justification for the GOP's devastatingly inept and costly adventure in Iraq.
If Osama remains on the loose and it becomes impossible to execute Saddam the only word which will describe this administrations' foreign policy legacy is grotesque.
October 11, 2006
GENERAL CUSTER: LIVE FROM THE BATTLEFIELD
“Hey George, I see you finally got the go-ahead to attack.”
“Yes I did, not with the troop strength we all wanted but it’s balls to the wall now.”
( later, standing amidst tens of thousands of dead natives, with fallen troops all around him)
“Hey George, this place is insane. The troops are getting slaughtered and they’re wondering when we’re going to sound retreat.”
“You know how it is. Everything is hush, hush and on hold til’ the election. (startled by the press) Damn those reporters and camera men. Smile, god damn it. Smile. We got orders to smile.”
Labels: Creative Writing
October 06, 2006
BAKER FLUMMOXES HANNITY: RIPS BUSH FOREIGN POLICY
Oct. 5, 2006, FOX NEWS, Hannity & Colmes, 9:00 PM EST
Click Baker Video Part II (two)
http://www.foxnews.com/hannityandcolmes/index.html Part II (two)
James Baker, the globally accomplished diplomat and former GOP Secretary of State under Reagan totally flummoxed the cartoonish GOP bagman, Sean Hannity.
Point blank, Baker said that given the choice between waging a war or a foreign policy solely restricted to establishing a new democracy in the Mid-east or alternatively pursuing policies of stabilizing the region, policies of stabilization were preferable.
Hannity tried to parry this heretical bashing of Bush's core foreign policy talking point with the usual GOP gobbledygook propaganda such as "this is "World War III" and "this is a fight against Islamo Fascists." Baker seemed uninterested in Sean's offer of GOP red meat talking points and he continued.
Paraphrased as best I can, Baker said, "Given the choice between engaging America's forces based on a principle (i.e. 'democracy') or based on establishing stability, stability is, all things considered, the superior objective.
Not yet finished shredding the inept Bush, Rice, Cheney foreign policy, Baker continued by basically saying that engaging in talks with America's enemies is not appeasement and not engaging in talks is sophomoric (my words). He recounted that he personally visited Syria fifteen times and on his next visit Syria abandoned their twenty-year-old policy towards Israel and agreed to sit with Israel in negotiations, de facto recognizing their existence.
Thank Video replays because this is political theater of the highest order which everyone should have the opportunity to see and hear once this episode is posted. Not only was Hannity beautifully sandbagged, in my opinion, but Bush 41' had to know that his son was going to get this political ass whumping.
This is an important message. It is the old guard of Bush 41' and Reagan trashing 43's leadership and foreign policy. Hopefully this clear message will help America return to some semblance of values, competence, professionalism and honesty in its foreign policy.
October 05, 2006
KARL ROVE DECLARES TERRORISTS "GAY "
His thinking is that Hitler was queer as queer could be, leading to the conclusion that fascist movements are exclusively comprised of sexual perverts and misfits.
"Our political warfare manual stipulates that we always call our enemies faggots to rally our base", Karl further explained, "and I see no reason to exclude these robe wearing, women beating, Islamo fascist terrorists."
BUSH BELIEVES HIS OWN SPIN WHILE TROOPS DIE
One of the hallmarks of the Bush administration is secrecy and controlling the message. With Karl Rove at the helm the GOP hard core daily prepare talking points which are then mimed in jackboot precision by the faithful. This is tough shrewd politics.
The problem however, which Suskind, Woodward and others have brought to the fore, is that at some point the talking points ceased to have any symmetry with reality. The Rovian ultra spin method is to disseminate public pronouncements based on what the GOP wants the public to believe, facts and reality notwithstanding.
The horror that now encompasses America's lost freedoms, its almost sordid world reputation and its troop killing inept military strategies arises because America's Commander-in-Chief believes the artificial world of his own spin.
An oft repeated political adage with despotic origins is that "If you tell the people a lie, any lie, often enough, they will begin to believe it."
George Bush lies, then believes his own lies. God help us.
Labels: Bush Admin