Tag Archives: Grabfest

China’s beverage billionaire Zong Qinghou victim of knife attack

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“Multi-billionaire Zong Qinghou, China’s second richest man, was attacked and injured by a would-be job applicant wielding a knife, official media said Wednesday.  Zong, China’s richest man until he was dethroned last week, is chairman of the country’s leading beverage producer Wahaha Group. Forbes magazine estimates his personal wealth at $11 billion, second only to Wang Jianlin, head of conglomerate Wanda Group, on $14 billion.  Zong started his business in 1987 on a tricycle selling soft drinks and ice cream and built Wahaha into one of the top 500 private firms in China, according to the company’s website.”

http://www.rawstory.com/rs/2013/09/18/chinas-second-richest-man-injured-in-accidental-knife-attack/

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Feds to seize skyscraper, 4 mosques belonging to Iran-linked group [2009]

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“US federal prosecutors said Thursday they were moving to seize four mosques and a 36-story New York skyscraper from a non-profit Muslim group suspected of having ties to the Iranian government.  Bharara filed a forfeiture action with a New York federal court to seize bank accounts owned by the group and a suspected front company, as well as the office tower and Islamic centers in the states of Maryland, Virginia, Texas and California.  The move to seize the Shiite Muslim places of worship is a very rare step for US law enforcement due to freedom of religion rights enshrined in the Constitution.”

http://www.rawstory.com/rs/2009/11/12/feds-nyc-skyscraper-4-mosques/

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U.S. to seize New York skyscraper it claims is secretly owned by Iran

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“A federal judge ruled in favor of the government’s suit this week, saying the building’s owners had violated Iran sanctions and money laundering laws.  Manhattan Federal Prosecutor Preet Bharara said the decision upholds the justice department claims the owner of the building ‘was (and is) a front for Bank Melli, and thus a front for the Government of Iran.’  Bharara said the funds from selling the building would provide ‘a means of compensating victims of Iranian-sponsored terrorism.’ Prosecutors allege the building’s owners, the Alavi Foundation and Assa Corporation, transferred rental income and other funds to Iran’s state-owned Bank Melli.”

http://www.rawstory.com/rs/2013/09/18/us-to-seize-new-york-skyscraper-secretly-owned-by-iran/

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The Attack on U.S. Property Rights Continues

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“If Mayor McLaughlin delivers on her threat, banks will view mortgage lending in Richmond as a riskier investment. As a result, banks will make it harder to get loans in Richmond by requiring higher down payments to minimize the risk of the mortgage going underwater. They will also likely demand higher interest rates to compensate for the increased risk of lending in that market.  According to Wells Fargo, Newark (NJ), North Las Vegas, El Monte (CA), and Seattle are all considering similar plans. Taken together, they will further contribute to the decline in the security of property rights in the United States and further jeopardize our economic prosperity.”

http://www.independent.org/newsroom/article.asp?id=4712

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Talks underway to unionize Volkswagen’s U.S. plant

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“The United Auto Workers said Friday it is in talks with Volkswagen to unionize the German automaker’s US plant and grant workers there a seat on the global works council.  The UAW has been making a major push to organize foreign auto plants in recent years after seeing its membership levels depleted by mass layoffs at General Motors, Ford and Chrysler.  Virtually none of the plants operated by foreign automakers in the United States currently is unionized.  Many car factories — like VW’s Tennessee facility — are located in southern states which generally are not union-friendly.”

http://www.rawstory.com/rs/2013/09/06/talks-underway-to-unionize-volkswagens-u-s-plant/

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‘A tide of squatters’ spreads in Spain in wake of foreclosures

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“If the organization known as Okupatutambien, or ‘Become a Squatter Too’ has its way, the country will see a mass expropriation of abandoned or repossessed property to resolve the housing crisis.  According to a 117-page “Squatters’ Guide” published on the Internet by the group, there are 3 million empty homes in Spain, or about 100 for each of the 30,000 homeless.  The guide advises would-be squatters on how to stake out, enter and remain inside properties, leaving the rightful owner and authorities powerless to evict them. It also offers free counseling from an office in downtown Madrid on how to siphon water and electricity from municipal supplies and how to deal with law-enforcement officers.”

http://business.financialpost.com/2013/04/17/a-tide-of-squatters/

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Jeffrey Tucker: How to Fake a Fast Food Strike

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Jeffrey Tucker: Bitcoin and E-commerce

“There’s every indication that people outside the restaurants protesting didn’t actually work for the place they were protesting. It was a classic ‘rent-a-mob’ situation, and the rent was being paid by political activists whose agenda has nothing to do with helping the average burger flipper. These were mostly media stunts cooked up by the Service Employees International Union, which bused in these so-called workers as a fulfillment of a little charade and subsequent media blitz. The SEIU coordinates these protests with various professional worker groups and in conjunction with the press to make the biggest possible splash.”

http://lfb.org/today/how-to-fake-a-fast-food-strike/

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Can We Pay a Minimum Wage That Makes Everyone Rich?

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“More people — an increase in the supply of labor — want to work at McDonald’s at a rate of $15 an hour than $7.25. That leads to an influx of workers into the labor force and higher unemployment as new entrants fail to find a job.  The road to a higher-paying job goes through education, training for the jobs of tomorrow, and incentives such as the earned income tax credit, not through the imposition of a floor on wages.  So the next time someone tells you that the U.S. needs to raise the minimum wage to $15 an hour, ask him what’s so special about $15. Why not raise it to $50, or $100, and make everyone rich?”

http://www.bloomberg.com/news/2013-09-04/can-we-pay-a-minimum-wage-that-makes-everyone-rich-.html

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NFL, 4,500 players reach $765 million settlement in concussion lawsuits

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“The NFL has reached a $765 million settlement with more than 4,500 former players who brought suit against the league for brain injuries suffered on the field, according to court documents released on Thursday.  As part of the settlement, the NFL will not be considered liable for these injuries, and it also avoids an admission that the injuries were caused by football.  Retired players suing the league over the issue argued that the NFL knowingly concealed the long-term effects of concussions and head trauma caused by playing the game.”

http://www.rawstory.com/rs/2013/08/29/nfl-4500-players-reach-765-million-settlement-in-lawsuits-that-claim-league-hid-concussion-risks/

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Lawyers’ Heaven: Big Banks’ Legal Bills Total $100 Billion.

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“The six biggest U.S. banks, led by JPMorgan Chase & Co. (JPM) and Bank of America Corp., have piled up $103 billion in legal costs since the financial crisis, more than all dividends paid to shareholders in the past five years. Bank of America, led by Chief Executive Officer Brian T. Moynihan increased its legal costs by $3.3 billion in the first half to a total of $19.1 billion. That’s the amount allotted to lawyers and litigation, as well as for settling claims about shoddy mortgages and foreclosures, according to data compiled by Bloomberg. The sum, equivalent to spending $51 million a day, is enough to erase everything the banks earned for 2012.”

http://teapartyeconomist.com/2013/08/29/lawyers-heaven-big-banks-legal-bills-100-billion/

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