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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: sea_urchin who wrote (14006)	5/16/2002 3:15:22 PM
From: long-gone	Read Replies (1) \| Respond to of 81427

And here's where (that worthless bitch) O'Leary (working for & in her job only because of Clinton) dumped US Government stores of precious metals on the market: O'Leary announces cost-cutting initiative for DOE By Lynn Yarris, LCYarris@LBL.gov Energy Secretary Hazel O'Leary introduced a "Strategic Realignment and Downsizing Initiative" on May 3, which she says will result in a savings of $1.7 billion through the closing of offices, the elimination of jobs, privatization, and the sale of assets. She also announced that the Clinton Administration is submitting a legislative package that would generate an additional $5.3 billion to the American taxpayers. The Secretary discussed the initiative at a press conference that was shown live in the Bldg. 50 auditorium via satellite. "Today, we take an historic step in restructuring the Department of Energy for its vital post-Cold War missions, she said. "Our downsizing and alignment commitments will enable us to do our work better and at lower cost. "The Mobil Corporation announced a 10-percent downsizing and their stock went up," she said. "If we were a private corporation, our stock would be soaring." O'Leary's proposal calls for a 27-percent downsizing in staff. In answering questions from reporters, Secretary O'Leary put herself forth as the "advocate for the continuation of DOE" and foresaw no closing of any national laboratories. Following the press conference, LBL director Charles Shank took questions from Laboratory employees. In response to a question about the impact of downsizing and budget reductions on research programs, the Director said, "There is a major programmatic piece that has yet to be described and yet to be done. At this time, no one has any idea what it will mean to us." The downsizing initiative calls for the closing of 24 offices, including 12 in Washington, D.C., as well as 11 field offices, and the international office in Paris. DOE's Oakland field office will be spared. The only impact on the Bay Area will be the closing of a small energy efficiency support office in Oakland. DOE plans to reduce employment at its headquarters by 2,338, and by 1,450 in the field. These reductions are expected to be achieved through buyouts and attrition. The Secretary also plans to raise some $75 million from the sale of surplus assets that include more than 10,000 pounds of precious metals (e.g., gold, silver, platinum), more than five tons of other metals, and thousands of tons of chemicals. Some $68 million is to be saved over the next five years from consolidating four energy grants into "performance partnership" block grants to states and reducing the number of regional support offices from 10 to five. Other reductions and savings are to come from cuts in travel, use of support service contractors, and regulatory reforms. Legislation being submitted to Congress calls for privatizing the Western Area and the Southwestern and Southeastern Power Administrations and transferring them to local utility customers; establishing the Bonneville Power Administration as an independent, government-owned corporation; selling the Naval Petroleum Reserves to the private sector; and separating the Federal Energy Regulatory Commission from DOE. This legislation would not only generate revenue, it would take more than 6,700 employees and 80 offices off the DOE rolls, the Secretary said. "Our legislative package puts the ball squarely in Congress' court," O'Leary said. "With their cooperation, we can deliver $5.3 billion more of our $14.1 billion commitment made to President Clinton and American taxpayers in December." lbl.gov Somewhere I've got the link to where they also sold of US DoD strategic metals stores...