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National Heritage Foundation Files for Bankruptcy in Virginia
National Heritage Foundation Files for Bankruptcy in Virginia
January 27, 2009 No Comments
National Heritage Foundation, Inc., which describes itself as “the nation’s leading independent donor-advised fund,” has filed a voluntary chapter 11 bankruptcy petition in the United States Bankruptcy Court for the Eastern District of Virginia. In its audited financial statements, the company reported assets of approximately $232 million and liabilities of approximately $23.6 million as of December 31, 2007 (the most recent financial statements available). The company is represented by Patton Boggs LLP.
For many years Mr. Kudlow served as chief economist for a number of Wall Street firms. He was a member of the Bush-Cheney Transition Advisory Committee. During President Reagan’s first term, Mr. Kudlow was the associate director for economics and planning, Office of Management and Budget, Executive Office of the President, where he was engaged in the development of the administration’s economic and budget policy.
He is a trusted advisor to many of our nation’s top decision-makers in Washington and has testified as an expert witness on economic matters before several congressional committees. He has also presented testimony at several Republican Governors Conferences.
“Instead of nationalizing the banking system, or making our big financial institutions wards of the state, or interfering with real estate markets through foreclosure bailouts, or expanding any other aspects of Bailout Nation, let’s have some pro-growth tax policies.” – from Kudlow website – his position (same old cut taxes to the rich and the corporations song.)
** my note –
Whenever Republicans open their bag of solutions, there is nothing but calls for their favored businesses and industries, many of which we have subsidized, to have reduced taxes, reduced taxes, tax cuts, tax cuts and reduced taxes for their fellow elite on capital gains. Same old song, same old desire to put huge risk portfolios on separate accounting ledgers, and not count them as the debt and obligations they represent. Off-balance sheet accounting, what a joke. And we’re supposed to let them make up values.
I almost forgot the other part of the same old tired Republican / big business song which is to not require them to make time for employees to eat lunch or dinner, not require businesses to make rest breaks for employees, not require them to pay overtime when they work employees past any level of sanity and to not be required to provide safe work environments, nor non-polluted environments where employees must work.
Aren’t these the same kinds of business people that gave world civilizations the sweat shops with women and children working 18 hours a day in dangerous factories that caught fire and burned them all alive? That is not what we need again in the United States, they’ve done enough damage to last many lifetimes doing things that way already.
Then, of course there is the one other part of that same tired chorus that defends business and industry from the legal and ethical demands of not polluting every natural resource around them and not releasing polluted sources into the surrounding environment where people must live and work, breath, drink the water and survive. Republicans don’t want businesses to adhere to any standards and want no regulations for anything except the small and startup businesses created by the regular citizenry.
Why are businesses unconscionable – aren’t they made up of people that care about the world in which they live?
– cricketdiane, 01-28-09
Also noticed this –
MINNEAPOLIS, Jan. 27 (UPI) — U.S. researchers say they’ve found mercury in samples of high fructose corn syrup and more than a dozen products containing the sweetener.
A study published in the journal Environmental Health found mercury in nearly 50 percent of tested samples of high fructose corn syrup. A separate study by the Institute for Agriculture and Trade Policy found mercury in nearly one-third of 55 popular food and beverage products where the sweetener is the first- or second-highest labeled ingredient, the institute said in a news release Monday.
Researchers said the corn syrup was likely contaminated with mercury through a caustic soda often used to separate corn starch from the corn kernel. “The use of mercury cells to produce caustic soda can contaminate caustic soda, and ultimately (the corn syrup), with mercury,” the report said.
** my note –
When I was growing up in California, the air hung like thick brown goo across the city of Los Angeles. On many days, we were told not to go outside, not to walk, not to engage in sports and to basically, not breath the air as if that were at all possible. In the years from the late 1960’s until now, instead of solving the problems of polluting industries, they’ve simply moved them to less regulated states and countries or found ways to put off adhering to the regulations on the books.
The automakers, as well as other industries continue to insist on doing as they damn well please despite the fact that when they destroy the natural resource quality around them, it is permanently and pervasively destructive. For every car, truck, gasoline engine driven vehicle in America, there is a continuing depletion of air quality and production of exotic and toxic chemical combinations being induced into the air, rain, soil and run-off into the surrounding landscape.
Whenever pressed to do something about it – the carmakers and other industries say it will be another ten years before they can do that. It is always ten more years away from doing whatever will make it better. And, now having wasted the last thirty years without doing what needed to be done about any of it, these industries, their lobbies and their politicians are still saying it will be ten years before getting really underway with it.
I read the same stories about water quality concerns and renewed put off dates about it in the Rome, GA newspapers three years ago that had been in the papers and had been fought over, thirty years ago and still today it is probably the same or nearly as bad as ever. At every turn, businesses would rather be allowed to do as they see fit without any willingness to make that fit with what benefits everyone and keeps everyone safe from the activities of the business or industry required by their doing business.
Now, on any July day and many days throughout the year, the same brown goo hanging thick in the air can be found across Carrollton, GA. and on many days in Atlanta the air quality is so dangerous from vehicle and industry emissions that people are told to restrict their activities. California hasn’t changed for the better, they simply added more places across America with industrial and vehicle pollutants in the high concentrations known to be serious risk to the population enduring it.
And – as if that isn’t enough, in recent years it has been common to hear it described as, “California – the land of poverty.” Apparently allowing businesses to do any damn thing they wanted as they saw fit didn’t serve to provide prosperity and opportunity, either.
– cricketdiane, 01-28-09, USA