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Showing posts with label cities selling assets. Show all posts
Showing posts with label cities selling assets. Show all posts

Wednesday, June 15, 2011

America for Sale: Is Goldman Sachs Buying Your City?

Image source
Dylan Ratigan
Huffington Post

In Chicago, it's the sale of parking meters to the sovereign wealth fund of Abu Dhabi. In Indiana, it's the sale of the northern toll road to a Spanish and Australian joint venture. In Wisconsin it's public health and food programs, in California it's libraries. It's water treatment plants, schools, toll roads, airports, and power plants. It's Amtrak. There are revolving doors of corrupt politicians, big banks, and rating agencies. There are conflicts of interest. It's bipartisan.

And it's coming to a city near you -- it may already be there. We're talking about the sale of public assets to private investors. You may have heard of one-off deals, but what we'll be exploring with the Huffington Post is the scale and scope of what is a national and organized campaign to shift the way we govern ourselves. In an era of increasingly stretched local and state budgets, privatization of public assets may be so tempting to local politicians that the trend seems unstoppable. Yet, public outrage has stopped and slowed a number of initiatives.

Thursday, December 2, 2010

Economic Hitmen Strike Again: Spain Planning to Privatize Airports

Santiago Perez
Dow Jones Newswires

MADRID -(Dow Jones)- The Spanish government plans to privatize the country's top two airports, as part of a series of measures seeking to jumpstart anemic economic growth, Prime Minister Jose Luis Rodriguez Zapatero said Wednesday.

Zapatero told legislators in Parliament that Madrid's Barajas and Barcelona's El Prat airports will be run by private operators under a licensing, or concession system. Both airports have been recently remodeled and expanded to absorb increased passenger traffic in coming years.

The measures announced by Zapatero seek to foster investment and growth after Spain's timid economic recovery stalled in the third quarter, as government austerity measures, high unemployment and weakening exports weighed on output.

Read Full Article

RELATED ARTICLE:
Citizens of Europe Rage Against the Machine


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Saturday, November 6, 2010

UK's Great Austerity Sell Off of State-Owned Assets Begins

The great austerity auction of state-owned assets has commenced after a pair of Canadian pension funds splashed out £2.1bn to acquire High Speed One, the UK's high-speed rail link.

Photo: PA - Telegraph
Graham Ruddick
Telegraph

The deal means the consortium has won a 30-year concession to run the 68-mile stretch of rail between London and the Channel Tunnel, as well as the stations on the line, St Pancras International, Stratford, Ashford and Ebbsfleet.

Philip Hammond, the Transport Secretary, on Friday called the deal "great news for taxpayers and rail passengers". The £2.1bn price is above analysts' estimates of £1.5bn to £2bn.

High Speed One was put on the block in June and was seen as one of the most attractive assets likely to be sold by the Coalition as it seeks to reduce Britain's national debt of £952bn. Other assets earmarked for potential privatisation are the Dartford Crossing, the Tote, the state's 49pc holding in National Air Traffic Services – to which the Government has appointed Bank of America Merrill Lynch to advise on its strategic options – and Royal Mail.



Under Friday's rail agreement, Ontario Teachers' Pension Plan and Borealis, the infrastructure arm of the Ontario Municipal Employees Retirement System, will receive the track access charges paid by the train operators that use the high-speed line – Eurostar and Southeastern Trains. They will also have the right to sell further access to the track and the stations. High Speed One is generating annual earnings before interest, tax, depreciation and amortisation of £135m.

The Department for Transport played down fears the deal could lead to higher passenger fares through the consortium increasing charges for train operators. The charges on the line are capped by the Secretary of State and the Office of Rail Regulation, which monitors the performance of High Speed One.

Mr Hammond said the consortium's business plan "very clearly" shows the desire for extra services on the line. Deutsche Bahn aims to launch services to Frankfurt and Amsterdam from 2013 that use the track. "It is a big vote of confidence in UK plc and a big vote of market confidence in the future of high speed railway," he added.

Read Full Article

RELATED ARTICLES:
Powerful EU Nations May Reform “Mission Impossible” Treaty in Secret
U.S. Debt Woes Expose Hidden Austerity and Looting of Public Assets




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Tuesday, October 12, 2010

French Workers Threaten General Strike in Response to Austerity

Kurt Nimmo
Infowars.com
October 12, 2010
In France, workers and students may soon revisit May, 1968. French president Nicolas Sarkozy and the French unions are locking horns over pension reforms. “Workers and students are expected to take to the streets in an escalation of industrial action against government plans to raise the official retirement age to 62, with walkouts bringing disruption to France’s transport network, schools and oil refineries,” the Guardian reported on Monday. “The announcement that secondary school and college pupils will join the demonstrations against Sarkozy, whose popularity is at a record low, raises the specter of May 1968, when a series of student strikes led to rioting and nearly brought down the government.”
A demo held at the Paris Bastille on October 2. Can you imagine Americans holding such demonstrations in reaction to the bankster financial crisis?
Not only did the general strike of 1968 nearly bring down the government, it almost brought the French economy to a virtual standstill. Groups involved in the strike were generally Luddite in character — they rejected the technocratic state and consumerism — and embraced a leftist ideology that made the French Communist Party look like part of the establishment. Eleven million French workers, roughly two-thirds of the nation’s workforce, went out on strike and forced president de Gaulle to dissolve the National Assembly and take temporary refuge at an air force base in Germany.
The national strike was betrayed by Confédération Générale du Travail (the General Confederation of Labor), one of five major French confederations of trade unions. During elections in June of 1968, the Gaullist party emerged even stronger than before the strike.
More than 40 years ago, French students revolted against capitalism. They were betrayed by socialist trade unions controlled by the French establishment.
The events of May, 1968, were a response to conflicts between students and authorities at the University of Paris at Nanterre. It was not a reaction to economic conditions like the strike that threatens to paralyze France once again.
The French government wants to raise the retirement age to 62 and impose other measures unacceptable to labor unions and students. Sarkozy’s office says he will not back down on measures he believes will help his re-election for a second term in 2012, according to the Guardian. In Le Parisien newspaper the former Socialist prime minister Michel Rocard said there is a “danger to the country” and Jean-Claude Mailly of the Force Ouvrière (Workers’ Force) union told French radio only a large demonstration will force Sarkozy and the government to back down.
Granted, the French socialists and trade unions primarily want to preserve the bankrupt wealth redistribution system in their country and do not oppose the financial system responsible for the coming austerity measures.
The engineered bankster financial meltdown has forced governments across Europe to ready austerity measures.
In Ireland, a proposed austerity package includes public-sector pay cuts of up to 20%, plus reductions in child benefit, tax rises, and nurses, teachers, and police officers being laid off.
Portugal’s sovereign-debt risk has resulted in the country taking money from the EU’s €750bn (£640bn) fund for stabilizing euro.
Spain has slashed €15bn from spending this year and next to reduce deficit by more than 4% of GDP, resulting in cuts to civil service pay, pensions, investment and child benefits.
In June, strikes hit Germany over budget cuts.
Eastern Europe is a basket case. Hungary relies on the globalist loan sharks (the IMF and World Bank) while things in Latvia are so dire the government has shut down hospitals and schools as a condition of the effort to “service” its debt, in other words dance to the tune of the globalist bankers.
Latvia is the textbook example of the damage banksters are capable of inflicting. In the period of two years, the country went dramatically from boom to bust, from the highest growth rates in the EU to the deepest recession. Not to worry, though. Latvians of hardy stock according to the Guardian: “With memories of Soviet living standards still fresh, however, the public is resilient and Latvia is weathering a crisis on a scale that would have triggered mayhem in western Europe.”
Earlier this month, talk of austerity resulted in a fresh wave of protests from Greece to Bulgaria, Macedonia, and Romania. Greek public sector workers walked out of their jobs protesting against EU and IMF prescribed austerity measures. Civil servants in Greece were the target of the latest demands by the international banksters. “The austerity measures have hit civil servants particularly hard, with wages cut by an average of 15 per cent, in addition to tax hikes and a pension freeze agreed to help restore the country’s finances in return for a 110 billion euro ($154bn) EU/IMF bailout,” Al Jazeera reported.
Bankster imposed austerity measures will come soon to America. “Americans are not taking to the streets only because nobody has told us that is what is being planned,” Ellen Brown wrote in March of this year. “The American people, who are already suffering massive unemployment and cutbacks in government services, will have to sacrifice more and pay the piper more, just as in those debt-strapped countries forced into austerity measures by the IMF.”
Brown correctly identifies the culprits behind the plan to destroy the middle class and reduce America to yet another third world hell-hole — the international bankers. She quotes Carroll Quigley, Bill Clinton’s mentor at Georgetown University:
[T]he powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent private meetings and conferences.
RT reports on the differences between American and European workers and their response to the bankster engineered economic implosion (see video below). America’s leftist labor union movement was long ago decimated and American jobs exported to slave labor gulags in Mexico and then to China.
RT notes the movement in the United States away from socialist solutions to a reawakening of patriot ideals and the demand for a return to constitutional government. Part of this struggle is the effort to dismantle the Federal Reserve and throw out the international bankers. The Europeans now going out in the street want more government, not less, and this will ultimately result in re-run of the economic catastrophe now underway.
“Permit me to issue and control the money of the nation and I care not who makes its laws,” said the prominent European banker Mayer Amsched Rothchild in the eighteenth century. If the banksters continue to influence and control government, the game will inch forward until they realize their world government controlled in a feudalist fashion by the central banks of the world.
Kurt Nimmo edits Infowars.com. He is the author of Another Day in the Empire: Life In Neoconservative America.
RELATED ARTICLES:

Government Prepares To Seize Private Pensions

10 Signs The U.S. is Becoming a Third World Country

The Neoliberal Experiment and Europe's anti-Austerity Strikes: Governments must Lower Wages or Suffer Financial Blackmail

Frightening Charts Show Record Low Revenue, Worst-Ever Austerity Measures For US Cities






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Thursday, October 7, 2010

Frightening Charts Show Record Low Revenue, Worst-Ever Austerity Measures For US Cities

Image: National League of cities
Gus Lubin
Business Insider

Municipal pain is at its worst level on record, according to annual report from the National League of Cities.

Revenue is 3.2% lower than last year, which was already at record lows. It may get worse next year as property taxes decline to reflect fallen property values.

Cutbacks in government spending are also at record levels.

The fiscal bloodshed you hear about in Los Angeles and New York -- not to mention state governments -- is probably taking place in your home town.




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