Our Conure at 26 mos., "whats up", okay, thank you! :)
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Quite a chart! :)
Very good! lol!
Eric S. Langan
Chief Executive Officer
Rick?s Cabaret International Inc.
The proxy statement for Rick?s Cabaret International Inc. uses the new SEC executive compensation rules.
In 2007, Eric S. Langan raked in $469,250 in total compensation according to the SEC. According to the AFL-CIO's calculation method*, this CEO raked in $450,125 in total 2007 compensation.
Rick’s Cabaret International, Inc. Reports First Quarter Revenues of $17.3 Million with Net of $790,832
Rick’s Cabaret International, Inc. (NASDAQ: RICK), the nation’s premier operator of upscale gentlemen’s clubs, reported consolidated total revenues of $17,311,171 for its first quarter ending December 31, 2008, compared to $10,954,338 for the same period in the previous year, an increase of 58 percent. The company had net income of $790,832 for the period or eight cents per diluted share, compared with $1,783,272 or 24 cents per share in the previous year.
The higher revenues were primarily attributable to increases of $6,360,179 from the company’s new clubs in Miami, Dallas, Philadelphia and Las Vegas as well as its new media division. Total revenues for same-location-same-period of club operations were essentially flat at $8,767,438, compared with $8,772,902 a year earlier, which the company attributes primarily to decreased customer traffic and spending related to the recession.
The company attributed the drop in earnings to a number of factors, including operating losses exceeding $1.9 million from some of its nightclubs, plus other factors including higher taxes, debt service, the cost of rebranding its Philadelphia nightclub, and an impairment taken in connection with the valuation of a nightclub in San Antonio, Texas.
Tootsie’s Cabaret, the giant gentlemen’s club owned by publicly traded Rick’s Cabaret International, Inc. (NASDAQ: RICK), celebrates its third anniversary in the community of Miami Gardens with a three-day event featuring adult stars, $3 drinks, a $3 cover charge ‘til 10 pm, then games and prizes ‘til 6 am daily.
Stunning blonde actress Jessica Linn will host the parties January 22nd, 23rd and 24th at Tootsie’s, a 61,000 square foot club featuring all-nude cabaret dancing, full liquor service, sports bar, private party suites and a first class restaurant. Located at 150 NW 183rd Street, it has become the gentlemen’s club of choice for locals and visitors to South Florida. Conveniently reached from I-95, Florida’s Turnpike and U.S. Rt. 441, it features indoor and valet parking for 1,500 cars.
“Tootsie’s without question ranks among the premier gentlemen’s clubs in the country and we are throwing this party to make sure our guests know how much we appreciate their help in making it one of the best,” says Ed Anakar, Director of Operations for Rick’s Cabaret.
In addition to special performances by Ms. Linn and the Girls of Tootsie’s, the party will include interactive games and prizes. Details are available at tootsiescabaret.com/, by text to 47643 then type “3years,” or by phoning the club at 305-651-5822.
Rick’s Cabaret International, Inc. acquired Tootsie’s Cabaret in late 2007 and since then has steadily expanded the club’s VIP services and upgraded the entertainment experience, making it a significant contributor to the company’s success.
Rick’s Cabaret International, Inc. Reports $16.94 Million in Nightclub Sales for Its First Quarter, Vs. $10.88 Million a Ye...
Rick’s Cabaret International, Inc. (NASDAQ: RICK), the premier chain of upscale gentlemen’s clubs, said its nightclub sales in its first quarter ending December 31, 2008 were $16,942,864 versus $10,774,293 for the same period a year earlier, a 57 percent improvement.
Sales for clubs it has operated for more than one year were $8,767,191 for the quarter, essentially level with the $8,772,902 reported in the same period a year ago.
“Despite strong sales at Rick’s Cabaret in New York City our overall same location sales were flat compared with last year and our margins are being squeezed, so we believe our first quarter earnings will fall below our earlier expectations,” said Eric Langan, President and CEO of the company. “We have begun to make operating changes in the clubs that are not meeting expectations and this is already having an impact. For example, we have converted our Philadelphia location to a Club Onyx and have seen an immediate improvement there. We will re-brand our Rick’s Cabaret in Dallas as an all-nude XTC Cabaret later this week and we expect a quick and positive impact. Our primary focus at this time is improving revenues and margins, and if we determine that certain clubs do not have the potential for improvement we will sell them or shut them.” About Rick’s Cabaret: Rick’s Cabaret International, Inc. (NASDAQ: RICK) operates upscale adult nightclubs serving primarily businessmen and professionals that offer live adult entertainment, restaurant and bar operations. The company owns, operates or licenses adult nightclubs in New York City, Miami, Philadelphia, Las Vegas, New Orleans, Charlotte, Dallas, Houston, Minneapolis and other cities under the names "Rick's Cabaret," "XTC," “Club Onyx” and “Tootsie’s Cabaret”. Sexual contact is not permitted at these locations. Rick's Cabaret also owns the adult Internet membership Web site, couplestouch.com; a network of online adult auction sites under the flagship URL naughtybids.com; ED Publications, the national trade magazine and convention for the adult nightclub industry; and Storerotica, the national trade magazine and convention for the adult product and intimate apparel industries." Rick’s Cabaret common stock is traded on the NASDAQ Global Market under the symbol RICK. For further information contact ir@ricks.com.
It could very well be that Israel may fall in the future. Muslims hate Jews, and we already know that they don't love the West either. I can understand many of their reasons why they hate us, their reasons for hating Israel is because they are Jews, and they want Israel so they make it a Muslim State, but none of them, no matter what they represent can come to our shores and kill civilians, 911 was the second biggest attack since Pearl Harbor, then expect the US to turn the other cheek.
Under the Bush Admin they did, thru misguided influences such as Cheney or old man Bush, and thus blamed Saddam, and Iraq, when this should have been taken to the real perpetrators in Afghanistan, and kept the fight there.
It surprised me to hear Bush make this statement during the end of his Presidency, that one of his regrets was in fact the statement of getting Bin Laden, "Dead or Alive". We have thousands of men and women who have given their all for his blunder, and will never know life again, and this is one of his regrets?.
This man has to be as sick as Reagan was, who was already in some stage of his disease while serving as President. But it wasn't this that made him a bad President, it was the damage he did to so many American lives. The USSR would have collapsed anyway, but we can see that they have the upperhand now, and making a comeback, steering Russia back to the way of the Czar's, and to some extent has a strong hold on its neighboring countries, even Europe because of its natural gas supplies, and oil.
Its our govts own undoing for not doing what they were elected to do, and all this was being planned during the Clinton Admin, and we all know where their focus was during his 8 years. If it weren't on bringing him down, it was how much money they could make, or campaign funds to run for re-election, or it was deregulating every aspect of the market, rubbing shoulders with the lobbyist of corporations, and hedging their investments, or their own out of marriage sex affairs, everything and anything accept serving this country and its people for what they were elected to do. The very things that military personal would not be allowed, and thus be held accountable for.
Now look what we've got, what we are witnessing, and what our young people are exposed to from these examples of leadership, and those elected to serve in the most trusted and highest positions in the land............Geitner is another fine example, and Charlie Rengal, then we learn why Daschul had to be turned down, a man who influenced alot of what was going on in Congress, and the list goes on.
I wouldn't be to sure about that. Things have shifted over the last couple years. Turkey appears to be in support of the Hamas, which is the hierarchy of the Hezballah, a rally took place of 200,000 in Instanbul square, large, angry protest filled the cities across the country, a notice scrawled on one of he largest synagogues in the Turkish city of Izmir, "We Will Kill You". Public graffiti screamed messages like "Kill Jews".
This isn't just occurring in Turkey, "but Germany", and England, and this is sweeping across Europe.
For the Palestinians to suggest that Israel give up the Gaza Strip, and half of Jerusalem, is kind like Mexico asking the US today to give up California, New Mexico, Arizona, and Texas. The US will either counter what is going on our border, and put limits on legal immigration from abroad or we will have the kind of problems that are occurring in England today.
Iran has been a known terrorist country for decades, and Obama using tactics to befriend them when Ahmadidajad has made threats against Israel, our one real ally in the ME, and the only democratic society bears concern. Time will tell what all this where all this will eventually lead?.
Russia once stated, that they would conquer the US, take it over, but not thru violence, but internally. We have 2 spies serving life sentences for being double agents, one was of the CIA, and the other was with the FBI, both had access to the most secretive of documents, information the President of the US would have, and were sold to the Kremlin for money. The sensitive information even gave away names and locations of our agents serving abroad, and this caused several of their deaths. The rest of the information not revealed to the public of course revealed submarine locations, and missions, and things of this nature............we are left to guess just how damaging its all been and it stretched for over a period of a couple decades...........
I'm surprised they didn't get the death penalty from a firing squad, and could be the reasoning is to find out just how much more was given away.
Putin is like a mafia Godfather, who supports Iran, and also supports the Castro regime, and Chavez in Venezuala is indicative that they share common interest.
I meant to say, "'IT WILL BE TOUGH BUT THEY WILL TRY TO GET BY WITH SEVERAL MILLION'. Just enough for a few Caribbean getaways, the sails will need to be used on the yachts more often as they cruise to the many islands and beaches. Nah!, the corporate credit cards were issued for such business meetings with clients.
Goldman didn't just receive bailout money to the tune of $20bn, but also benefitted from the fall of Lehman's at $12.1bn, whose Ceo should yet be indicted for fraud, along with Henry Paulson for supporting such and entity as GS is by no means innocent.
http://online.wsj.com/article/SB123819669102361547.html?ru=yahoo&mod=yahoo_hs
Wall Street firm Goldman Sachs Group Inc., which recently accepted government funds to bolster its operations, spent $58 million to buy two top executives out of some of the firm's in-house funds, a regulatory filing Friday showed.
Meanwhile, total compensation for the company's chief executive, chief financial officer and two co-presidents fell 97% to "$9.3 million in fiscal 2008" from $272.8 million a year earlier. The steep decline reflected that the executives got no bonus or stock options in the latest fiscal year.
'IT WILL BE TOUGH BUT THEY WILL TRY TO BUY ON SEVERAL MILLION'.
It falls in line with with being just as corrupted as the rest and maybe even more, who also has a Hedgefund operation offshore in the Caymans, is indicative that these Hedgies are being supported by the taxpayer, directly or indirectly matters little, GS benefits big time from its Hedgefund, and just one of the 14 brokerages who was recently fined for front running, and not their first for having broken SEC regulations, nor Knight Capital, but they continue to operate as if they are honorable institutions.
Whether it was Aig whose division for selling CDS's and operated a HedgeFund on top of their real insurance business, or GS, alot of these bailout funds are being used in conjunction with these units. Nice to know the Govt has involved itself in bailing out Hedgefunds, an Industry that is loaded with derivatives, and according to 2 reports these hedges are between $550 trillion to $700 trillion globably. "What could go wrong", they do have all their bases covered, right"?
If Aig will be dependent on a $440bn+ govt bailout to pay down these CDS bets, the rest of the derivatives market must be sound bets, only the best and the brightest could have contrived them. Like the best of the best who managed Long Term Capital Mgmt had been characterized as the best 2 Gunslingers in the Hedgefund Industry. They wanted to make the kind of name George Soro's made for himself, and were fast, real fast on the draw. When they were outgunned and bleeding and their billionaire clients saw the bankrobbers making off with their loot, they called Sheriff Greenspan to assemble a Posse.
We will probably be bankrupt sooner as later, we are looking to become as England, and many living their today are wearing turbines, as we begin to see more and more of it here, not only do they want the MiddleEast but the West as well, without the Westerner's.
A Pro-Muslim, Spanish speaking State, whose lively hood will be based on the trade of Heroin and Marijuana, and we can't even flee to Mexico, we'll have to go North to Canada, and I hate the cold and snow.
That may be, we won't know till they have one?. What it will do is empower them with the threat of using it. Iran is the real source behind terrorism and who is supporting Hamas. Lets face it, Israel has had no peace since it became a State in 1948. Israel has not been the offender, but the defender of having the right to exist. Hamas is not a legitimate government, but rather a terrorist organization funded by Iran. Turkey is another problem for Israel, they once held a pact, but no longer, they were a hedge against Israel's enemies but are now supporting them, a country Iran would not want to go up against. Israel's counter attack on the Hama's is their excuse for increasingly embracing the Muslim identity, they see them as a legitimate govt when the rest of the world turned its back on the terrorist group. Syria is another country Israel shouldn't trust, and imo would stab a knife in their back given the opportunity.
What they (all) want is the destruction of Israel and every Jew dead and gone. We would have to go back in History, what is now Israel was at one time Israel whose kings were David and Solomon till they were conquered. The reasons for the Jews fleeing to other parts of the world is why they were living in places we know as Germany.
Does not legitimize them as being Palestine, no more than America's Govt legitimate, they made it so, the country was also conquered by genocide.
It didn't matter what the Native American agreed upon or never agreed upon, the motives behind the Govt were to take every inch of this country, and then force the remainder of these people onto reservations and worthless lands, to make them farmers on rocky soil where nothing would grow, to live under their laws, and their customs, speak their language........"where have we heard this before"?.
What is here developing today is the controversy of what the 1st language should be, Spanish or English, and with 30 million illegals? in this country plus the 60 million of Hispanics who are legal gives them a pretty loud voice, and one that likes to be heard. We are hearing from plenty of the Mexican's now along our borders, and when the Bush Admin chose to turn his nose up at that problem, as many of our elected official are doing today because many are dependent on the Hispanic vote,,,,,,,,,screams to why we need term limits.
Bob Dylan was good,,,,,,,,Positively 4th Street was a favorite on the juke box at the grill across from our high school. Thanks for the play.
Treasury head Geithner unveiling regulatory agenda
Administration proposing overhaul of financial regulation to avoid repeat of banking crisis
Martin Crutsinger, AP Economics Writer
Thursday March 26, 2009, 5:50 am EDT
Buzz up! Print Related:American International Group, Inc.
WASHINGTON (AP) -- The Obama administration is proposing an extensive overhaul of financial regulations in an effort to prevent a repeat of the banking crisis last fall that toppled once-mighty institutions and wiped out trillions of dollars in investor wealth.
AP - U.S. Treasury Secretary Timothy Geithner speaks at the Council on Foreign Relations Wednesday, March 25, 2009, in New ...
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Officials said the administration will seek to regulate the market for credit default swaps and other types of derivatives and require hedge funds to register with the Securities and Exchange Commission.
Treasury Secretary Timothy Geithner was scheduled to outline the proposals in testimony Thursday before the House Financial Services Committee.
Administration officials provided details of the administration's plan before the testimony only on condition of anonymity.
The program the administration was presenting to Congress will also include a recommendation for creation of a systemic risk regulator, possibly at the Federal Reserve, to monitor risks to the entire system.
The plan also includes a measure that Geithner and Federal Reserve Chairman Ben Bernanke discussed before the committee on Tuesday to give the administration expanded powers to take over major nonbank financial institutions, such as insurance companies and hedge funds that were teetering on the brink of collapse.
That power was aimed at preventing a repeat of the problems surrounding insurance giant American International Group Inc., which sparked a furor last week when it was revealed the company had distributed $165 million in bonuses to employees of its financial products group. The unit specialized in trading credit default swaps, the instruments that drove the company to near-collapse last fall.
The administration, pushing Congress to act quickly on its reform agenda, sent Congress a 61-page bill dealing with the expanded powers to seize control of nonbank institutions late Wednesday. The House Financial Services Committee, chaired by Rep. Barney Frank, D-Mass., has indicated it could move on the measure as early as next week.
However, it was unclear how fast the rest of the financial reform agenda might move through Congress. Geithner was providing only a broad outline of the other proposals, with many thorny details remaining to be worked out.
Administration officials promised that the remaining issues would be hammered out in consultation with Congress with the goal of getting legislation approved as quickly as possible.
The administration is proposing that hedge funds and other private pools of capital, including private equity funds and venture capital funds, be required to register with the SEC if their assets exceed a certain size. The threshold amount has yet to be determined, officials said.
The proposal on credit default swaps and other derivatives would require the markets on which they are traded to be regulated for the first time, and for the buying and selling of these instruments to be conducted in ways that will foster greater oversight.
Credit default swaps, which trade in a $60 trillion global market without government oversight, are contracts to insure against the default of financial instruments like bonds and corporate debt. They played a prominent role in the credit crisis that brought the downfall of investment banking giant Lehman Brothers Holdings Inc. last fall and nearly unraveled AIG, forcing the government to provide more than $180 billion in support.
Hedge funds, vast pools of capital holding an estimated $1.5 trillion in assets, operate mostly outside of government supervision. As the market crisis deepened last fall, hedge fund selling was widely cited as one of the reasons for increased volatility that pounded stocks and bonds. Hedge funds also suffered huge losses last year, notably from investments in securities tied to subprime mortgages.
The outline of the regulatory reform was being unveiled a week before President Barack Obama was scheduled to meet for discussions among the Group of 20 major industrialized and developing countries in London to assess what needs to be done to deal with the global financial crisis.
While the administration is pushing other nations to follow the U.S. lead in putting together sizable economic stimulus programs to jump-start global growth, many in Europe are resisting those calls and arguing that the United States needs to do more to toughen financial regulations. They believe the current troubles can be traced to lax regulation in the United States in such key areas as hedge funds and credit default swaps.
Requiring hedge funds to register would open their books to inspection by regulators. The SEC sought that authority several years ago but was stymied by a federal appeals court in 2006.
Hedge funds have grown explosively in recent years while operating secretively. They have lured an increasing number of ordinary investors, pension funds and university endowments -- meaning millions of people now unwittingly invest in hedge funds indirectly.
AP Business Writer Marcy Gordon contributed to this report.
Your opinion is correct. The ones that don't get re-elected will want to go to work for some Wall Street Firm, or become a lobbyist or both, will not want to go to far in doing whats right with whatever new regulations they impose. The real things thats needed to change "Business as usual", we'll probably never see..............."A Den Of Thieves" is to good a label for them........... 1% of the population controls 33% of the total wealth, more than the remaining 90% combined. Today I heard Sherman state that he didn't want to go after corporate compensation accross the board because Capitalisim is good.
This kind of wealth doesn't occur through honest hard work, these people never lift anything heavier than a pen, mouse, or cell phone when calling their Congressmen to support their causes.
They will never give up their Nuclear Program, unless Israel takes it out?
Who will want to be next?..........
Thanks for the article.
We need these businesses, the one business that should be recession proof.
He's explored the in's and out's. No doubt his intent if he were to get any govt money to use it personally but give some kind of appearance of doing something with it, like he did with these worthless claims he got for unranium mining that never was executed, he was to busy enriching himself, and chances are he doesn't hold many of these anymore. Remember righty bringing up the question of where he got those claims?. and so fast. The second symbol he purchased for the American Uranium Mining Company, a textile bankrupted company, he paid for with the money the accreditors got from us, all the while stating that Russell was a holding company but the acquistion was detached from Russell, and he telling investors that if they wanted shares they would have to purchase them, that this was his company, like Russell, investors had zero to say with what he would do or not do, even giving himself a $350k salary that some established senior companies Ceo's don't get............he sold directly into the market for these 3 accreditors, they were never issued any shares from Berman, he then purchased Aurm or whatever it was with that money................this is a violation. In the end in had to cough up the symbol and who knows what ever happened to those "64 or 68 ghostly mining claims". Its all lies, base on lies from a scammer, a con and a thief, and this is all apart of what the SEC has allowed in this sector for years, but it won't continue, the entire country of retail investors are just beginning with the SEC if they don't begin busting scoundrels like him.
Major Holders Get Major Holders for:
BREAKDOWN
% of Shares Held by All Insider and 5% Owners: 19%
% of Shares Held by Institutional & Mutual Fund Owners: 80%
% of Float Held by Institutional & Mutual Fund Owners: 100%
Number of Institutions Holding Shares: 85
TOP INSTITUTIONAL HOLDERS
Holder Shares % Out Value* Reported
FRANKLIN RESOURCES, INC 2,322,652 9.07 $9,476,420 31-Dec-08
FMR LLC 2,280,222 8.90 $9,303,305 31-Dec-08
Barclays Global Investors UK Holdings Ltd 1,753,800 6.85 $7,155,504 31-Dec-08
Winslow Management Company 1,674,414 6.54 $6,831,609 31-Dec-08
JUPITER ASSET MANAGEMENT LIMITED 1,135,654 4.43 $4,633,468 31-Dec-08
Bank of New York Mellon Corporation 1,047,240 4.09 $4,272,739 31-Dec-08
DIMENSIONAL FUND ADVISORS INC 849,970 3.32 $3,467,877 31-Dec-08
PRICE (T.ROWE) ASSOCIATES INC 841,875 3.29 $3,434,850 31-Dec-08
Portolan Capital Management, LLC 582,150 2.27 $2,375,172 31-Dec-08
BUCKHEAD CAPITAL MANAGEMENT LLC 2,961,373 11.56 $12,082,401 31-Dec-08
The selloff induced insider buying. "Non open Market"
23-Mar-09 GORMLEY GERALD P
Officer 8,711 Direct Statement of Ownership N/A
17-Mar-09 PETERS GREGORY B
Director 11,000 Direct Acquisition (Non Open Market) at $0.96 per share. $10,560
16-Mar-09 OLIVER BRIAN
Officer 20,000 Direct Acquisition (Non Open Market) at $0.66 per share. $13,200
16-Mar-09 CALLAHAN JAMES F JR
Director 60,000 Direct Acquisition (Non Open Market) at $0.83 per share. $49,800
12-Mar-09 CHAPPLE JOHN F IIII
Director 100,000 Direct Acquisition (Non Open Market) at $0.61 per share. $61,000
12-Mar-09 DUFFY SEAN P
Officer 7,500 Direct Acquisition (Non Open Market) at $0.60 per share. $4,500
11-Mar-09 OLIVER BRIAN
Officer 13,000 Direct Acquisition (Non Open Market) at $0.70 per share. $9,100
9-Mar-09 REIBSANE ERIC J
Officer 1,500 Direct Acquisition (Non Open Market) at $0.70 per share. $1,050
9-Mar-09 HANLEY WILLIAM
Officer 20,000 Direct Acquisition (Non Open Market) at $0.66 per share. $13,200
9-Mar-09 SIMMONS GARY R
Officer 20,000 Direct Acquisition (Non Open Market) at $0.81 per share. $16,200
Casella Waste Systems, Inc. Announces Third Quarter Fiscal Year 2009 Results
Wednesday March 4, 2009, 4:15 pm EST
Buzz up! Print Related:Casella Waste Systems Inc.
RUTLAND, VT--(MARKET WIRE)--Mar 4, 2009 -- Casella Waste Systems, Inc. (NasdaqGS:CWST - News), a regional solid waste, recycling and resource management services company, today reported financial results for the third quarter of its 2009 fiscal year.
Third Quarter Financial Results
For the quarter ended January 31, 2009, the company reported revenues of $121.2 million, down $19.7 million, or 14.0 percent below the same quarter last year. Accounting for 73.6 percent of the decline of overall revenues, recycling revenues were down $14.5 million over the same quarter last year, primarily as the result of lower commodity prices.
Solid waste revenues were down 7.7 percent from the same quarter last year; core pricing was up 2.5 percent (excluding revenue losses from fuel, oil, and environmental fees), and core volumes were down 3.6 percent (excluding revenues losses due to the ramp-down of landfill volumes at the Pine Tree landfill in Hampden, Maine as it approaches the end of life, the planned closure of the Colebrook, NH landfill in early August 2008, and the idling of a C&D processing facility in October 2008).
The company's net loss applicable to common shareholders was ($3.8) million, or ($0.15) per common share, compared to a net loss of ($4.6) million, or ($0.18) per share for the same quarter last year. Reported results for the 2009 quarter include a pre-tax environmental remediation charge of $2.8 million ($0.07 per share after taxes), and reported results for the 2008 quarter include pre-tax management reorganization charges of $1.2 million ($0.03 per share after taxes).
Operating income for the quarter was $1.9 million, down $5.5 million from the same quarter last year. Net cash provided by operating activities in the quarter was $11.4 million, compared to $16.1 million for the same quarter last year. The company's earnings before interest, taxes, depreciation and amortization, environmental remediation charge, and development project charge (EBITDA*) were $21.7 million, down $4.7 million from the same quarter last year. The company's free cash flow* in the quarter was $0.2 million, compared to $0.5 million in the same quarter last year.
Lower year-over-year operating performance was mainly driven by significantly lower commodity pricing, lower shipped commodity volumes, and one-time costs incurred in the recycling business associated with the global commodity market collapse and the commissioning of two new Zero-Sort Recycling(TM) facilities. Other negative factors during the quarter that impacted operating performance include lower hauling and transfer volumes, the ramp-down of landfill volumes at the Pine Tree landfill, and a negative variance from the planned closure of the Colebrook landfill. These factors were partially offset by higher hauling and landfill pricing, the ramp-up of the new landfill gas-to-energy facilities at the Hyland and Clinton landfills, and cost cutting initiatives.
During the third quarter, the recycling operations incurred approximately $4.0 million of one-time costs associated with impacts from the global commodity collapse in November 2008, including temporary commodity warehousing and inventory costs and higher than market revenue shares to municipal partners due to contractual obligations that calculate revenue shares based on lagging average commodity prices; and the upgrade of the Philadelphia and Boston materials recycling facilities to Zero-Sort Recycling(TM).
During the quarter ended January 31, 2009, the company recorded an environmental remediation charge of $2.8 million related to a scrap yard and transfer station owned by the company. The company expects the majority of these funds to be spent in fiscal 2011.
Nine Month Financial Results
For the nine months ended January 31, 2009, the company reported revenues of $436.6 million, down $3.3 million, or 0.8 percent below the same period last year. The company's net income per common share for the nine month period was $0.02, compared to $0.00 per common share for the same period last year. Reported results for the nine months ended January 31, 2009, include a pre-tax environmental remediation charge of $2.8 million ($0.07 per share after taxes), and reported results for the same period last year include pre-tax management reorganization charges of $1.2 million ($0.03 per share after taxes).
Operating income for the nine month period was $33.5 million, down $3.6 million from the same period last year. Net cash provided by operating activities for the nine month period was $50.6 million, down $0.8 million compared to the same period last year. EBITDA was $92.3 million for the nine month period, down $3.9 million from the same period last year. The company's free cash flow for nine months period was $4.6 million, up $5.2 million over the same period last year.
Business Update
"Our team rose to the challenges presented by the rapid collapse of the commodities markets and the decline in the regional economy during an extremely challenging third quarter," John W. Casella, chairman and CEO of Casella Waste Systems, said.
"The global financial collapse combined with a widening worldwide recession caused a significant downturn in commodity pricing from October 2008 through the end of the quarter," Casella said. "And, while the majority of our residential and commercial solid waste business is recession resistant, we saw lower solid waste volumes in more economically sensitive markets."
"We are making intelligent choices during this downturn that I believe will significantly strengthen the company now and in the future," Casella said. "We are 18 months into a comprehensive effort to improve all aspects of our operating structure and daily business practices, and we are successfully implementing programs that reduce cos
Its not over, most of these stocks are gonna be bumpy. There will other opportunities, but your right this was a good entry point. We can see what can happen, and the risk involved in this volatile market.
Remember this:
1. Half of the market is controlled by hedge funds, or 50%. (this can be internal or external engaged primarily in shorting, or both if any hold a position who can control the floor, or its bottom). Shorting is ever prevalent.
2. The other part of this equation is the impact the insiders have on the stock price when they are engaged in selling.
3. The other slice is if and when the company is raising cash for stock and selling at discounted prices to the market.
Retail investors make up about 20/25% of the overall market track the volume. The other unknowns make up the other 25%, watching and getting in after a big sell off like we saw here is the safest entry point............Shorting is destroying a many of a company, until this practice is banned the risk of investing will continue to rise.
Its not just the ban on shorting that the President, and the Congress needs address. New laws regarding the elimination of stock options is the other. Every person directly working for any public company should be salaried, or paid according to the revenues the company generates. None of the owners, or partners should ever receive more than the controlling shares they're issued, which should be preffered B which cannot be converted, and must remain restricted till the company changes hands.
Any common A shares they choose to own should have to be purchased on the open market, the way the rest of us acquire them. If a company, and its employee's cannot make it on the profits the company generates, like any private enterprise they are doing little else than be ever dependent on the market to make their way.
Glty - keep in mind this is not a company, its a symbol, he has no business, nor has he had one, nor will he have one. He never spent anytime in Utah, he sent his brother there on a couple occassions with the geiger counter.
He was attempting to get his hands on some of that money from the DOE, maybe still is, so he could farm them for grant money that wouldn't have to be paid back. A pinksheet proven scam with hundreds of complaints to the SEC and other agencies, and he incredulously claiming that he wants to do something to help with the energy crisis having scammed retail investors for years. I have a feeling the tides on the verge of turning for people like him. Give you an example of what people like him have on their agenda's. They may just find that if they intend to remain public where this road will eventually lead. People involved in these type scams will inventually pay the piper. These agencies, and the SEC for those with public companies like this are gonna find field workers at their locations investigating what they claim they have and are doing, it won't be "business as usual".
Investigators find abuse in small business program
GAO: Undeserving companies collected millions in federal contracts due to poor SBA oversight
http://finance.yahoo.com/news/Investigators-find-abuse-in-apf-14735795.html
Hope Yen, Associated Press Writer
Wednesday March 25, 2009, 12:03 am EDT
Buzz up! Print WASHINGTON (AP) -- Because of lax oversight, undeserving companies collected millions in federal contracts from an $8 billion government program designated for small businesses in poor neighborhoods, congressional investigators charge.
The Small Business Administration repeatedly failed to verify paperwork and conduct audits to weed out sham firms claiming to have main offices in economically distressed areas, the Government Accountability Office said in a report released Wednesday, raising questions about an agency seeking to take a greater role in helping business owners stave off job losses.
The GAO report examined SBA's Historically Underutilized Business Zone, or HUBZone, which was created in 1997 to help thousands of small firms in distressed areas.
In some cases, the business owners freely admitted diverting the lucrative work to large companies or ineligible businesses.
"Dishonest companies see skirting the rules as 'business as usual,'" said Rep. Nydia Velazquez, D-N.Y., who chairs the House Small Business Committee. "This is a program that needs to be shut down."
Responding, the SBA said it was currently "re-engineering the entire HUBZone" process and that it generally agreed with the GAO's recommendations urging stronger checks, unannounced site visits and stiffer enforcement. The SBA is currently headed by an acting administrator while President Barack Obama's choice to lead the agency, venture capitalist Karen Mills, awaits confirmation by the Senate.
To participate in the program, companies affirm that their principal office -- where the greatest number of employees work -- is in a designated HUBZone and that at least 35 percent of the firm's full-time employees live in that area. HUBZone firms also must spend at least 50 percent of a contract's personnel costs on its own employees.
The GAO and SBA inspector general have highlighted problems in the awarding of HUBZone contracts dating back to 2003, with spot checks that found tens of millions of dollars in federal contracts were improperly awarded. However, no systematic review has been conducted to determine what percentage of the roughly "$8 billion" in HUBZone contracts awarded "each year" might be questionable.
In the report, investigators found 19 ineligible firms in Dallas, Huntsville, Ala., San Antonio and San Diego that received nearly $30 million in Pentagon and Housing and Urban Development contracts for environmental consulting, medical support and information technology designated for HUBZone businesses.
In one case, a Jacksonville, Ala., maintenance company touted a suite of offices in their address, which actually belonged to a trailer in a residential park. The sole occupant had nothing to do with the company.
Meanwhile, the head of a Fort Worth, Texas, firm acknowledged she subcontracted 71 to 89 percent of her environmental consulting work to large firms and other businesses, explaining that large firms typically used HUBZone companies as "contract vehicles."
"Our work demonstrates that SBA's fraud controls lack important elements needed to screen and monitor firms," GAO investigators wrote. They said the Fort Worth firm was clearly "undermining the HUBZone program's stated purpose of stimulating small business development in economically distressed areas."
A report last July found similar problems in the Washington, D.C., area, noting that the SBA conducted few site visits and only asked for evidence supporting a firm's eligibility claims about one-third of the time. Because the SBA was slow to suspend or otherwise punish them, several ineligible firms continued to receive more than $7 million in government contracts.
The GAO report comes as both Obama and his Republican critics are citing small businesses as critical to stimulating growth in the current recession. Obama is freeing up billions of dollars to boost SBA lending to struggling small businesses, although some watchdogs worry it could create wasteful incentives for banks to rush credit out the door.
Velazquez blamed underfunding, program flaws and mismanagement by the Bush administration for HUBZone problems. She is urging that $1.5 million in the 2010 budget be used to give small business participants transitional aid as the program is shut down.
"It is clear from this latest report that the HUBZone program is serving as a breeding ground for waste and fraud," Velazquez said.
Small Business Administration: http://www.sba.gov/
Government Accountability Office: http://www.gao.gov/
Investigators find abuse in small business program
GAO: Undeserving companies collected millions in federal contracts due to poor SBA oversight
http://finance.yahoo.com/news/Investigators-find-abuse-in-apf-14735795.html
Hope Yen, Associated Press Writer
Wednesday March 25, 2009, 12:03 am EDT
Buzz up! Print WASHINGTON (AP) -- Because of lax oversight, undeserving companies collected millions in federal contracts from an $8 billion government program designated for small businesses in poor neighborhoods, congressional investigators charge.
The Small Business Administration repeatedly failed to verify paperwork and conduct audits to weed out sham firms claiming to have main offices in economically distressed areas, the Government Accountability Office said in a report released Wednesday, raising questions about an agency seeking to take a greater role in helping business owners stave off job losses.
The GAO report examined SBA's Historically Underutilized Business Zone, or HUBZone, which was created in 1997 to help thousands of small firms in distressed areas.
In some cases, the business owners freely admitted diverting the lucrative work to large companies or ineligible businesses.
"Dishonest companies see skirting the rules as 'business as usual,'" said Rep. Nydia Velazquez, D-N.Y., who chairs the House Small Business Committee. "This is a program that needs to be shut down."
Responding, the SBA said it was currently "re-engineering the entire HUBZone" process and that it generally agreed with the GAO's recommendations urging stronger checks, unannounced site visits and stiffer enforcement. The SBA is currently headed by an acting administrator while President Barack Obama's choice to lead the agency, venture capitalist Karen Mills, awaits confirmation by the Senate.
To participate in the program, companies affirm that their principal office -- where the greatest number of employees work -- is in a designated HUBZone and that at least 35 percent of the firm's full-time employees live in that area. HUBZone firms also must spend at least 50 percent of a contract's personnel costs on its own employees.
The GAO and SBA inspector general have highlighted problems in the awarding of HUBZone contracts dating back to 2003, with spot checks that found tens of millions of dollars in federal contracts were improperly awarded. However, no systematic review has been conducted to determine what percentage of the roughly "$8 billion" in HUBZone contracts awarded "each year" might be questionable.
In the report, investigators found 19 ineligible firms in Dallas, Huntsville, Ala., San Antonio and San Diego that received nearly $30 million in Pentagon and Housing and Urban Development contracts for environmental consulting, medical support and information technology designated for HUBZone businesses.
In one case, a Jacksonville, Ala., maintenance company touted a suite of offices in their address, which actually belonged to a trailer in a residential park. The sole occupant had nothing to do with the company.
Meanwhile, the head of a Fort Worth, Texas, firm acknowledged she subcontracted 71 to 89 percent of her environmental consulting work to large firms and other businesses, explaining that large firms typically used HUBZone companies as "contract vehicles."
"Our work demonstrates that SBA's fraud controls lack important elements needed to screen and monitor firms," GAO investigators wrote. They said the Fort Worth firm was clearly "undermining the HUBZone program's stated purpose of stimulating small business development in economically distressed areas."
A report last July found similar problems in the Washington, D.C., area, noting that the SBA conducted few site visits and only asked for evidence supporting a firm's eligibility claims about one-third of the time. Because the SBA was slow to suspend or otherwise punish them, several ineligible firms continued to receive more than $7 million in government contracts.
The GAO report comes as both Obama and his Republican critics are citing small businesses as critical to stimulating growth in the current recession. Obama is freeing up billions of dollars to boost SBA lending to struggling small businesses, although some watchdogs worry it could create wasteful incentives for banks to rush credit out the door.
Velazquez blamed underfunding, program flaws and mismanagement by the Bush administration for HUBZone problems. She is urging that $1.5 million in the 2010 budget be used to give small business participants transitional aid as the program is shut down.
"It is clear from this latest report that the HUBZone program is serving as a breeding ground for waste and fraud," Velazquez said.
Small Business Administration: http://www.sba.gov/
Government Accountability Office: http://www.gao.gov/
Cal Dive buys back shares from Helix Energy
http://houston.bizjournals.com/houston/stories/2009/01/26/daily1.html?ana=yfcpc
Cal Dive Reports Fourth Quarter and Year End 2008 Results
Cal Dive International, Inc. (NYSE:DVR) reported 2008 annual net income of $109.5 million, or $1.05 per diluted share compared to $105.6 million and $1.24 per diluted share for the same period of 2007. The increase in net income is primarily due to the profits generated by assets acquired from Horizon Offshore in December 2007. The increase was partially offset by lower vessel utilization as a result of the harsh weather conditions in the Gulf of Mexico that extended into May of 2008.
Cal Dive also reported fourth quarter 2008 net income of $46.1 million, or $.44 per diluted share compared to $26.4 million and $.30 per diluted share for the same period of 2007. The increase in net income is due to the profit contributions from acquired assets and increased demand for inspection and repair work due to the impact of hurricanes Gustav and Ike.
Quinn Hébert, President and Chief Executive Officer of Cal Dive, stated “We finished the year strong with record third and fourth quarter financial results. We had solid utilization across the fleet during good weather months and experienced higher than expected utilization in the fourth quarter as a result of hurricanes Gustav and Ike. While those were positive drivers this year, our biggest success has been the integrated projects we’ve executed utilizing various combinations of construction barges and diving services to meet our customers’ needs on both new construction and salvage projects. The integration of our December 2007 Horizon Offshore acquisition has gone well, as reflected in our financial results.
Looking ahead, based on the macroeconomic drivers for our industry, including reduced global demand for hydrocarbons and lower oil and natural gas prices, we expect 2009 to be a challenging year as our customers reduce capital spending, particularly on new construction projects. At the same time we expect to continue to perform repair and salvage projects on damaged infrastructure following the 2008 hurricanes which will partially offset expected declines in new construction projects. We have a disciplined cost structure at Cal Dive and we are well positioned to operate our business through this cycle just as we have during past market downturns. As we are expecting reduced offshore activity levels in 2009, we will focus on tightly controlling operating costs, conservatively managing our capital dollars and executing offshore projects successfully.”
Cal Dive Awarded Pemex Contract
Date : 03/05/2009 @ 8:30AM
Source : Business Wire
Stock : Cal Dive International, Inc. (DVR)
Quote : 6.74 -0.04 (-0.59%) @ 2:42PM
Cal Dive Awarded Pemex Contract
Cal Dive International, Inc. (NYSE:DVR) announced today that it has been awarded a contract by Pemex Exploración y Producción for the installation of 13.9 kilometers of 20 inch subsea pipeline located in the Litoral Tabasco Field in 30 meters of water. The lump sum contract will generate total revenue of approximately $58 million and involve 114 total utilization days, utilizing two of the Company’s key assets, including a pipelay barge and a derrick barge. The offshore construction is expected to commence in May 2009.
Cal Dive International, Inc., headquartered in Houston, Texas, is a marine contractor that provides an integrated offshore construction solution to its customers, including manned diving, pipelay and pipe burial, platform installation and platform salvage services to the offshore oil and natural gas industry on the Gulf of Mexico OCS, Northeastern U.S., Latin America, Southeast Asia, Australia, the Middle East, India and the Mediterranean, with a fleet of 31 vessels, including 21 surface and saturation diving support vessels and 10 construction barges.
History
1975 Commenced operations in the Gulf of Mexico
1980 Acquired International Oilfield Divers in Morgan City, LA, our first acquisition in the Gulf of Mexico market
1981 Acquired J&J Marine Diving in Houston, TX
1984 Completed a major conversion of the Cal Diver I, introducing the first DSV dedicated for use in the Gulf of Mexico
1986 Began providing subsea construction, maintenance and inspection work on a qualified turnkey basis, enabling clients to better control project costs
1989 Launched shallow water salvage business with the Cal Dive Barge I
1994 Acquired first DP DSV, the Witch Queen, improving the Company's ability to operate in winter months and work in deeper water
1996 Acquired and enhanced a DP semi-submersible, the Uncle John, the first semi submersible MSV dedicated for use in the Gulf Of Mexico
1997 Acquired Aquatica Inc. (previously known as Acadiana Divers) in Lafayette, Louisiana to expand the Company's call out diving support capabilities
2001 Acquired the DP DSV Mystic Viking
Acquired the DP DSV Eclipse
Acquired Professional Divers of New Orleans, adding a 4 point surface DSV and three utility boats
2005 Acquired six DSVs and a portable saturation diving system from Torch Offshore, Inc. Acquired all of the diving and shallow water pipelay business of Acergy USA Inc. operating in the Gulf of Mexico and Trinidad, including nine vessels and one portable saturation diving system
2006 Acquired the business of Singapore-based Fraser Diving International Ltd. and its six portable saturation diving systems and 15 surface diving systems operating primarily in Southeast Asia and the Middle East
2007 Acquired Horizon Offshore and 6 pipelay and pipe burial barges, 1 dedicated pipe burial barge, 1 combination derrick and pipelay barge, 2 derrick barges and 1 Advanced Burial Plow.
Copyright 2007 by Caldive | Privacy Statement
This isn't a gamble, this is throwing good money away. Chief this guy is nothing more than a racketeer. 4k in volume and $1200 is about as thinly traded as it comes. Buy in and ya can't get out, and then Bermans MM will come in and dump and get your money........To many plays to give money to a proven scoundrel.
I believe this is just what the US is looking for. Not an affordable car for the moment whose manufacturer will increase the price over time, like we saw with the Saturn, and others, but a sustainable priced vehicle that will really become the peoples car. I car like this that will cost $3k to $3.5k to get around the city, and if it can reach a speed of 150mph:))) I mean 50mph so it could be driven on the interstate for short distances even better, not a precedent but it would lessen stop and go within a 10 mile range........if the vehicle can last 3 to 4 years, get recylcled, buy another in a similar price range it would be a hit.........this would truly then be the peoples car. A new car every 4 years would work, the cost would be a thousand dollars a year........better than leasing, better than buying an overpriced vehicle that losses 2,3 to $5k when the title gets the first owner, or driven off the lot.
A European variant will be launched by 2011, and the company is also looking at the U.S., as the current economic situation has made low-cost cars even more attractive, Tata said.
"This was never conceived as the cheapest car, but as providing transport to those people who never owned a car."
"Driven mainly by the change in demand that we see elsewhere in the world, we suddenly felt we had a product that could be of considerable interest as a low-cost product in western Europe, eastern Europe, the UK and even the U.S.," Tata said.
RDG he's all we got right now, and he is gonna make mistakes, but lets hope he is in for the right reasons. If he doesn't clean up Washington or at least make an attempt to, and execute his plans whatever they may be for Wall Street, we will be doomed from having failed policies.
This is a catastrophe no?..........we all know whats caused it.
Its hard to comprehend that there are over $600 trillion in derivatives attached to the markets but its true, and maybe more, no one really knows. This stuff was all going on before Obama hit the stage, but its up to him with the use of Congress to make lasting changes, and the correct ones.
I heard a fellow say on a news program today, on Cnn I think?, that when this all blows over Wall Street will make even more money................better than before!
Really?.......if this were the case we have no hope for any improvement at all, it will be business as usual.
If Obama is gonna do any good he has to change policies and many of them and in a big big way.
I'm not the smartest guy in the world, I don't have a degree from Harvard, or studied business and law, but he has, and he is in a position to understand the basics.
1.Short selling destroys the market and companies. Needs to be eliminated and banned and not leaving it open to amendments. Make it a felony for securities violations.
2. Eliminate and Ban stock options which destroys investors capital and damages the company they are suppose to be stewards of. The salaries the Ceo receives, the board, the key execs, and employee's have to be paid from the earnings the company generates, like any private company.
These 2 things that have worked their way into the market is pure insanity, and its nothing more than corruption.
Those caught up in kickbacks should have their license and registrations revoked, hefty fines, and jail and be ordered for the recouperation of those funds. No exceptions!
If they can't run a company and make it profitable they are in the wrong business, have the wrong product or products, or business.
This isn't a market of charity nor should it be legislated like one.......the problems begin here, and work their way to Wall Street and on to the Caymans to the real pirates of the Caribbean, a racket that operates a market within the market.
It just goes to show that our Govt is one mixed up beauracracy, who may have outlived its usefulness which began in the 60's, and we now have a govt inside the govt, and neither serve the American people.............how can someone who is living here illegally give birth to a legal baby with US status?, I don't see how its possible and the laws need to be amended.
Its kinda like living out of wedlock, and giving birth to baby and giving it a legal name...........not possible, not reality, its only on paper, the mother can claim anyone to be the real father, but the problems intensify when our govt gives legal status to a child who may even have been born out of wedlock and born in the back of truck loaded with illegals should not give that baby legal status, its nuts.
Just drive the car across the US border Jose, he will then be a US citizen:)))
Which citizens are being neglected timely care?
Me!!:)))
The reason I gotta go now, I gotta go find some.
March 04, 2009 2:31 PM
NY regulators frown on doctor's flat-fee system
Dr. John Muney is negotiating with state insurance regulators to maintain the system he arranged with patients who pay $79 a month for unlimited office visits.
http://www.crainsnewyork.com/article/20090304/FREE/903049985
If Obama can remain steadfast, and shows us he can clean up the corruption in Congress, and Wall Street, and bring some integrity into our Govt he will have a louder voice.
This is why so many hate the US and this type of Capitalism, its evil greed, money appears to be the only thing important in Americans way of life doesn't matter who gets hurt along the way. Wall Street gives an obstructed view of America, this isn't the way many Americans live, some do have normal lives. There are more important things, money is something needed to build a life.
Honor and Integrity can go a long long way, something Bush and family or his cabinet never had, and how he got elected for a second term, the nation did not want to change horses in midstream with a War going on, something the American people should never bite into. This was his and Cheney's war in Iraq, not the American people, but we still have to support our troops they aren't calling the shots, nor were they during Vietnam. Obama was right about Afghanistan, this was where our war was at, we already devasted the Iraqis once, and old man Bush decided to leave it there at their border, not what Shwartzkauf or Storm'n Norm'n wanted, the wanted Saddam but it was Bush's call not his.............Instead of taking this to Bin Ladens doorstep we took it to Saddam's based on lies, and its hear that we learn of his real insanity.
$8k for carrying a knife in the UK, should be imposed here, only up it to $10k, some gangs are carrying macheties, and the fine imposed should be $20k, and release from jail should be dependent on when the fine is paid in full...........3 police officers were killed with an assault rifle in Calif, I believe it happened yesterday...............its a crazy world, and one crazy country bent on violence. If our policticians in Washington, our States, and Cities were not so reckless in trying to curb the ills of the world, as opposed to our own backyards, doing all the right things having made it safer for our citizens, and visitors over the last 95 years it would have made a tremendous impact. Instead we got into Wars other than WW11 that weren't justified, and today we are paying the price.............and for what?.
Our young people watch and listen to all this stuff in Washington, Wall Street, and here its hard to seperate the two, and the corruption in these public corporations. I like Spitzer, and someone as smart as he sure let his dumb side ruin him, like Edwards............and this is what their learning about, not what is making this a great country, and that we have honorable people serving in Congress or on the benches of the US Supreme Court, or withing the Federal Reserve or the Treasury, or with our Banks, and Lending Institutions, and why getting a good education matters when they can learn all this on the streets or within a prison.
What they are being taught is that honor and integrity, means nothing, and has no place in the real world if they want to make it big. Everything and anything can be heard on TV or the news media. Like Aig employee's getting million dollar bonuses for sinking a corporation thru fraud, and then getting rewarding by the taxpayer for doing it.
They grow up believing in nothing because evolution teaches that we are our own god, and everything goes as long as they get caught..........It takes strong parents who are making lots of time for them to teach them otherwise and that there is a better way............The very same things needed in every other country in the world. Everyone can do better and live a better life given a fair opportunity to do the right things. We cannot come to the rescue everytime something occurs in the world, there are other countries who should be doing their fair share, who don't. China doesn't involve itself, nor does Japan, and many others.
So many of a countries ills can be caused by corrupted govts who are overbearing on the rest of the population to do right when they are breaking laws, look at Geitner, Daschul, and others who don't pay their taxes, but if it were you and me that owed as much, our accounts would be frozen, fines would be levied, and maybe a stint in jail, only after the IRS takes what they want, and even our tax returns would be conviscated, our elected officials have proven that serving corruption and getting rich doing it and all they can get away with, is the better way, club initiation once elected makes the new person one of them, the very same people time and again want the next highest seat, like we all witnessed during this last election, and the country suffers for it, our States, and cities.
Further, I think we attacked a country, Iraq for Israel. The WAR HAWK neocons, cheney , wolfowitz, rumsfeld ..there is a long list of names, so I will just leave it at - ETC. were in total power at that time and it was their orgiastic dream from Bush seniors time to destroy Iraq - and in george 'bush' .. they found the perfect dupe .
yes , yes ... 'perhaps' oil was also a factor, imo a smaller factor, attacking Iraq fulfilled the neocons vision of destroying their old, longtime friend ... Iraq . They had the plans the actual blueprint for achieving it from Pappy's time .. He had the good sense to tell them to 'buzz off ' .. but than the town idiot came to power ............and you know the rest of that story ..............
Interesting, but I believe it was to get a stronghold into that country for oil. McCain admitted to it, by slip of the tongue, or just wanting to tell the truth. It opened alot of doors Steph, like the Carlisle Group, Haliburton, and who only knows how many contractors?. I guess you've heard about the shady electrical work done by one US company that has caused a dozen deaths when soldiers were showering?........but the company admitted they did nothing wrong.............well then they should be made to take a few showers in the same places.
When Govt money is involved, and there is literally no oversight of this money, as we are all to familiar with, remember the $1500 toilet seats, and $500 trash baskets being billed to the govt, and $200 penny screws several years ago. NY projects if I remember?
When contractors can get into areas like this, then charge the govt outrageous sums of money for this type of work, or products, and unless there is oversight, or follow up or proper inspectors, and inspections, they may never know the difference. I don't know the entire story, but I remember it was in the news that Haliburton had charged the govt some untold amount of money for food to the troops they never delivered on..............these kind of stories are endless. But when your buddies are in the White House who have given these unbidded contracts to them, all goes. Bush used his position to further enrich himself, his family, and circle of friends,
and Cheney for years to enrich himself and his circle of mis-fit friends. When he isn't doing this he's going hunting with them.:)
In summary the idea of getting Saddam out would be a means of gaining some control over the ME oil, and the govt plans to remain in that country, and now that we have a stronghold and an Embassy looks like we are gonna be there for the next 100 years.
The Federal Reserve is Bankrupt
http://www.globalresearch.ca/index.php?context=viewArticle&code=CHA20090310&articleId=12648