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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: carranza2 who wrote (73245)	4/16/2010 8:57:29 PM
From: Maurice Winn	1 Recommendation Read Replies (2) \| Respond to of 74559

Going for Goldman Sachs really does look like a good political move for Obama and the Democrats to show that they are not just a crowd to roll over for the Wall Street crowd and Big Bankers and an easy touch for vast piles of citizen's loot. No doubt the SEC has their backing. No doubt the public is all in favour too. But it shouldn't cause a market crunch, just a panic among the frauds. Qualcomm, Yahoo!, Microsoft, Google, Boeing, General Electric and swarms of companies doing real work of value to billions of people will do just fine. If Goldman Sachs shareholders and J P Morgan and Wells Fargo and other shareholders and creditors of them lose their investments, then it's no skin off Qualcomm shareholders' noses. On the contrary, it will make them more valuable. Mqurice

To: carranza2 who wrote (73245)	4/17/2010 2:16:25 AM
From: Haim R. Branisteanu	Respond to of 74559

In the meantime - HAPPY DAYS in NY States - contractors are asked to work for free!! Construction groups sue over state payment halt Demand Albany either offer assurances that contractors will be paid, or that the state will not cite them for breach of contract if they stop working. By James Comtois A coalition of trade associations representing New York's construction industry has filed a lawsuit against the state over Gov. David Paterson's decision to unilaterally halt payments for hundreds of state construction projects. The suit seeks to prevent those companies that are rebuilding the region's infrastructure from being caught in the crossfire of Mr. Paterson's budget battles. According to a statement issued by the coalition—which includes the General Contractors Association, the Construction Industry Council, the Long Island Contractors' Association and Associated General Contractors of New York State—the lawsuit was filed in Albany State Supreme Court on Friday. New York Department of Transportation Commissioner Stanley Gee and Chief Financial Officer Ronald Epstein are named as defendants in the suit. According to court documents, the suit alleges that contractors who work on roads and bridges must either work with no guarantee of pay, or stop work. Those who stop are cited for breach of contract and become ineligible to bid on future work. “There are no assurances that the contract workers going to be paid. They're potentially facing insolvency,” said former New York Lt. Gov. Al DelBello who is serving as the group's attorney. “But if they stop work, they're in breach of their contract. It's an unconscionable position they've been put it.” The suit is demanding that the state either offer assurances that contractors will be paid, or agree not to cite those who stop working with breach of contract. General Contractors Association Managing Director Denise Richardson said the litigation “is being filed on behalf of all of the subcontractors and suppliers who thought that a share of a government contract would help them grow their business.” She added that the governor's standoff with the state legislature is turning construction workers' business future into “a pawn in a chess game that they did not ask to play.” “The state has created a problem that demands a solution,” Mr. DelBello said.