pianogonzology: logistics

Sunday, February 26, 2012

Mile high club?. . .

. . . Boeing enters supply chain finance guarantee program. . .

(from Equipment, Logistics Management, Markets, North America, Regulatory, Regulatory/Trade, Risk Management, Services, Suppliers, Supply Chain)

"U.S. aircraft manufacturer Boeing will participate in the U.S. Export-Import Bank’s Supply-Chain Finance Guarantee program, which provides competitively priced working capital financing to suppliers of goods or services to U.S. exporters..."

In other words, the government is going help poor little Boeing to finance the making of millions, no wait, billions of dollars for some (to quote Dylan Ratigan) 'Greedy Bastards'. But there's more.

(from workinglife.org bog by Jonathan Tasini)
"Corporate welfare and the scam on the American people is a daily scandal. And it gets obscured sometimes in the rah-rah competition in the marketplace that we get sucked into by the traditional media. So, here's something to think about: you, the taxpayer, are about to shell our billions of dollars to a corporation that PAYS NOT A DIME IN FEDERAL TAXES. The company is called Boeing.
You've probably read all about it:

In a surprise twist to a long-running saga, the Air Force said on Thursday that it would award a $35 billion contract for aerial fueling tankers to Boeing rather than to a European company that builds Airbus planes... The Air Force said the first phase of the contract would be worth $3.5 billion, and it would cover the construction of the first 18 tankers by 2017. Boeing would build 179 tankers in all for about $35 billion."

The issue is ". . . whether a very profitable corporation that does not pay a fair share in taxes should be even allowed to benefit from billions of dollars in taxpayer money. From the great folks at Citizens for Tax Justice:

Despite reporting nearly $10 billion in domestic pre-tax profits between 2008 and 2010, the Boeing Corporation, which was granted a contract worth as much as $35 billion to build airplanes for the federal government earlier this week, did not pay a dime of U.S. federal corporate income taxes during this three-year period. . . "

Once again the 99% are being 'done' by big business and their 'representatives'.
Gives all new meaning to the term "Mile high club".