Thursday, September 22, 2011

Obama's Jobs Policies - #3267 - CEO: How the Government is Costing My Company Jobs - Greta Van Susteren - Fox (2) The CEO Who Got Fined For Hiring Too Many People - Human Events (3) Income Slides to 1996 Levels - WSJ (4) EPA's War on Jobs Comes to Kentucky - Hot Air (5) Well Known Businesses Are Starting to Look Shaky - The Blaze (6) Consumers Paid More for Range of Items in August - Yahoo Finance (7) Mortgage Default Warnings Surged in August - Yahoo Finance





CEO: How the Government is Costing My Company Jobs - Greta Van Susteren - Fox. This is an amazing story, almost impossible to believe the government could penalize him for wanting to create jobs.  See below for additional information on this story.

The CEO Who Got Fined for Hiring Too Many People - Human Events - Peter Schiff, the CEO of Euro Pacific Capital, testified before the House Subcommittee on Regulatory Affairs, Stimulus Oversight, and Government Spending on September 13. He was there to speak on the subject of job creation, but Schiff also knows a few things about how the government can destroy jobs. In his remarks before the subcommittee, which he also published in full at Forbes, he explained how he was fined for hiring too many people:  Regulations have substantially increased the costs and risks associated with job creation. Employers are subjected to all sorts of onerous regulations, taxes, and legal liability. The act of becoming an employer should be made as easy as possible. Instead we have made it more difficult. In fact, among small business owners, limiting the number of employees is generally a goal. This is not a consequence of the market, but of a rational desire on the part of business owners to limit their cost and legal liabilities. They would prefer to hire workers, but these added burdens make it preferable to seek out alternatives.  In my own business, securities regulations have prohibited me from hiring brokers for more than three years. I was even fined fifteen thousand dollar expressly for hiring too many brokers in 2008. In the process I incurred more than $500,000 in legal bills to mitigate a more severe regulatory outcome as a result of hiring too many workers. I have also been prohibited from opening up additional offices. I had a major expansion plan that would have resulted in my creating hundreds of additional jobs. Regulations have forced me to put those jobs on hold.  Read more........


Other Economic News:
Income Slides to 1996 Levels - Wall Street Journal - The income of the typical American family—long the envy of much of the world—has dropped for the third year in a row and is now roughly where it was in 1996 when adjusted for inflation.  Read more.......
EPA's War on Jobs - Hot Air - There’s one problem with the LG&E story: they aren’t doing this on their own schedule. They’re being forced into it prematurely to meet new EPA regulations, and it’s going to come with a hefty price tag.  Read more.......
Well Known Businesses Are Starting to Look Shaky - The Blaze - ......24/7 Wall St. has compiled a list of companies that are in deep trouble. The list is based on share prices, layoffs, analysts’ reports about their futures of these firms, and the extent to which they have missed Wall Street predictions about earnings-per-share. Read more, see list ......
Consumers Paid more for Range of Items in August - Yahoo Finance - Consumers paid more for a range of goods and services last month, pushing up inflation and squeezing Americans' purchasing power.  The Consumer Price Index rose 0.4 percent in August after jumping 0.5 percent in July. The core index, which excludes volatile food and energy prices, rose 0.2 percent.  Read more.......
Mortgage Default Warnings Surged in August - Yahoo Finance - Banks have stepped up their actions against homeowners who have fallen behind on their mortgage payments, setting the stage for a fresh wave of foreclosures.  The number of U.S. homes that received an initial default notice -- the first step in the foreclosure process -- jumped 33 percent in August from July, foreclosure listing firm RealtyTrac Inc. said Thursday.  Read more.......

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