Monthly Archives: March 2011

Corporate Taxes and General Electric

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Now, we see this story about GE, yes, that General Electric, America’s largest corporation.
What do you mean, GE?
Well, GE is tight in  bed with Obama.
Why would GE do that?
GE, like many corporations is completely amoral.  GE is essentially a mercenary and sees an economic advantage.  GE supports Cap and Trade, i.e. higher taxes for you and me.  They manufacture wind turbines.  And since the Obama administration is strongly against fossil fuels and in favor of “green” energy, GE wants to capitalize on that situation.  And Jeffrey Immelt, GE Chairman has recently been appointed to the President’s new panel on job creation.  Maybe he means job creation for GE employees.
Back to the NY Times  story::  even though GE earned $14.2 billion in 2010 ($5.1 billion of which came from the US) in profits GE paid No, Zero, Zip , Nada taxes.  In fact, GE “received” $3.2 billion in tax credits
So, if GE gets its way be prepared for higher taxes – for you, but not for GE.

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Damaging a Home in Foreclosure Might Become a Felony

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We have seen numerous stories where homeowners facing foreclosure have removed appliances, fixtures and even the copper plumbing and wiring before they finally leave the house.

I suspect that these actions are for two basic reasons: one is simple economics.  They believe they may recoup some of their losses.  The second reason is revenge.  They believe the bank damaged them and they in turn want to damage the bank.

No matter what the reason, the cost of correcting the damage is immense.

Nevada Assemblyman Peter Goicoechea introduced a bill that would make the willful damaging of a property in foreclosure a felony.

According to the bill, anyone who occupies a home, including the borrower or even a tenant, can be charged with a felony if they damage the property while in the foreclosure process. Authorities would have to prove the vandal had personal knowledge of the pending foreclosure or any judicial proceeding.

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Home Prices Continue to Drop in Reno/Sparks

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The Median price for homes in the Reno/Sparks area is now $5000 below 2009.

The RGJ reports that Reno home prices continue to fall. Buyers are sensitive to price (is that a surprise?). Both home prices and the number of homes sold were lower than last year.

Incline Village was the exception with the sale of 36 condos.

I try to link to any story, but I was not able to find this on line. This story appeared in the Sunday print edition. The RGJ seems to want to have some of its content “Only In Print.” Are they ashamed of their product?

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