Daily Archives: October 22, 2013

Opinion – Will Users Be Losers in “EU Vs. Google”? by Mario Mariniello ex Project Syndicate – John Gelmini

October 22, 2013 By in Business Administration, People, Politicians, Politics Tags: , , , , , , 4 Comments
English: The City of London skyline as viewed ...

English: The City of London skyline as viewed toward the north-west from the top floor viewing platform of London City Hall on the southern side of the Thames. In the foreground: Dixie Queen and Millennium Time at Tower Millennium Pier. This is a 5 segment panoramic image taken by myself with a Canon 5D and 24-105mm f/4L IS lens. (Photo credit: Wikipedia)

I thank Dr Alf for sharing Mario Mariniello’s article entitled “Will Users Be Losers in “EU Vs. Google”? , published by Project Syndicate. Here is my own opinion.

Consumers have lost power against Big Business because as smaller businesses have been acquired, Big Businesses have placed themselves in a position where they pay no taxes and any competition they might have had is effectively eliminated.

Even when they are fined for money laundering, the proceeds of drug dealing by Mexican drug barons (HSBS PLC), the $1 billion USD fine levied in the American courts is first applied to any taxable profits in order to reduce the tax payable, the costs of sending executives to the hearings and loss of business plus the court costs and legal fees are also applied to the taxable profits thus reducing the tax bill even further.

The coup-de- grace is delivered in the form of higher credit card charges, arrangement fees for loans and hidden bank charges, rendering the entire fine useless as a deterrent.

As for the bankers themselves, their bonuses are back up to 82% in the case of those based in the City of London.

Looking at executive pay and rewards for failure, those too have risen sharply and whether it is energy costs, food or rail fares the consumer is getting the sharp end of the stick.

Unless directors are made to feel some of the pain they inflict on others personally nothing will change and they will accrue even more power to themselves at the expense of their customers.

John Gelmini

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Opinion-George Osborne in China–wide-eyed innocent & deeply ignorant|Will Hutton-ex Guardian – John Gelmini

October 22, 2013 By in Business Administration, China, David Cameron, George Osborne, Growth, People, Politics, UK Tags: , , , , , , , 2 Comments

Dr Alf is right but Will Hutton of the Guardian just fulminates without proposing any solutions.

Someone had to go to China if David Cameron did not go, if only to raise Sovereign Wealth funds for infrastructure such as roads and airports.

Getting the Chinese to build nuclear power stations, invest in companies that are going to deliver renewable energy and letting them own the Port of Felixstowe, through which 50% of our imports and physical exports flow is not strategically sensible, so Hutton is right about that.

The comments he makes about Tibet may very well be true but how he feels after lunching well in El Vino and having lambasted the Chinese in public is going to further annoy the Chinese and make them hold up even more job creating trade.

These things should be talked about behind closed doors and only when our hands are clean which after Iraq, they are not.

The organisation which Will Hutton works for has promoted policies which have rendered the UK un-competitive and which have brought about our present position of weakness even without the help of Cameron and Osborne.

If Osborne is ignorant about economic matters then Will Hutton and Guardian Media Group(GMG) need to look at their own double standards:
–Railing against Tesco and other multinationals for tax avoidance and then GMG doing exactly the same thing
–Lambasting the Chinese as hackers and tramplers on of human rights yet being quite happy to buy and use their products and entertain and make money from a self-confessed traitor and leaker of records Edward Snowden
–“Feeling ashamed” as Osborne and Boris Johnson try to raise investment and drum up business in China but feeling no shame whatsoever about advocating deeply damaging policies which have lost people jobs and are continuing to lose us jobs and policies such as opposing nuclear power, airport building and fracking which will see the lights go out and further emasculate us
–Opposing farmers and being indifferent to their plight (5000 bankruptcies a year and up to 150 suicides) and then complaining about high food prices

Like Will Hutton, I feel ashamed too, but I feel that way because people like Will Hutton who should be doing what he can to make the country more competitive and prosperous is like too many others promoting policies which if left unchecked will turn us into a 3rd world country.

John Gelmini

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