Business

The Next Round of Companies That Could Go Bankrupt

Via Business Insider: Everyone has been warning this week about imminent bankruptcy for American Airlines and Eastman Kodak.

And they are not the only companies on the verge of financial collapse.

The latest watch list from GovernanceMetrics International names over 100 companies with an elevated financial distress probability and which have experienced high-risk events that increase the likelihood of bankruptcy, reports Business Insider.

Many of the companies on the list are largely unfamiliar to the American  public. However, it is not the name of the company that matters; it is the increasing trend towards bankruptcy (being experienced by familiar and unfamiliar companies alike) that should worry people.

The Next Round of Companies That Could Go BankruptVenoco, Inc. (Oil and Gas Exploration)
Financial distress probability: 3.04 percent
Accounting and governance risk: Aggressive
Market Cap.*: $659,790,000

Venoco shares got a boost at the end of August when CEO Timothy Marquez offered to buy out the company. Days later, however, an investor sued to block the buyout, claiming “Marquez strategically timed the proposed transaction during a period of economic turmoil in which the terms of the proposed transaction could be superficially viewed in a positive light”.

The Next Round of Companies That Could Go BankruptSunPower Corporation (Solar Energy)
Financial distress probability: 3.20 percent
Accounting and governance risk: Aggressive
Market Cap.: $652,210,000

It is not as bad as Solyndra, but SunPower has been getting destroyed with
the rest of the U.S. industry. SunPower sold its 250MW California Valley Solar Ranch to NRG Energy this year. It also just signed a new $275 million revolving credit facility as well as a new $200 million letter of credit facility, according to Reuters.

The Next Round of Companies That Could Go BankruptThe Shaw Group Inc. (Engineering, Construction, Technology)
Financial distress probability: 3.81 percent
Accounting and governance risk: Aggressive
Market Cap.: $1,723,000,000

The energy and construction conglomerate is trading at its 52-week low. Shaw is selling its 20 percent stake in Westinghouse to Toshiba Corporation, which has been seen as a move away from nuclear.

The Next Round of Companies That Could Go BankruptCoreLogic, Inc. (Financial, Property and Consumer information)
Financial distress probability: 4.44 percent
Accounting and governance risk: Very Aggressive
Market Cap.: $1,287,590,000

CoreLogic has put itself up for sale.  At least seven different firms have expressed interest in acquiring the data firm, according to Reuters. It has hired Greenhill to help with the sale as a whole, or as pieces.

The Next Round of Companies That Could Go BankruptDineEquity, Inc. (Restaurant/Hospitality)
Financial distress probability: 5.97 percent
Accounting and governance risk: Aggressive
Market Cap.: $774,990,000

DineEquity owns Applebee’s and IHOP. U.S. chain restaurants have suffered during the recession; many going bankrupt including Friendly’s, Fuddruckers, Sbarro, Perkins & Marie Callender, Charlie Brown’s Steakhouse and Real Mex.
If this trend continues, especially in the case of IHOP, college students nationwide will be forced to find other means of late-night binge eating.

The Next Round of Companies That Could Go BankruptQuad/Graphics, Inc. (Print/Graphics)
Financial distress probability: 6.25 percent
Accounting and governance risk: Aggressive
Market Cap.: $996,400,000

Quad/Graphics has been on a buying spree, picking up competitor World Color Press out of bankruptcy and buying HGI Company in 2010. Since then profit margins have been under pressure and debt is high, according to The Street.

The Next Round of Companies That Could Go BankruptBarnes & Noble, Inc. (Retail)
Financial distress probability: 6.32 percent
Accounting and governance risk: Aggressive
Market Cap.: $716,220,000
4-week price drop: -25.13 percent

Borders went bankrupt earlier this year. Barnes & Noble’s business model is only slightly more viable. It faces new pressure from Amazon after last week’s announcement of the new Kindle Fire and cheaper Kindles.

The Next Round of Companies That Could Go BankruptCommunity Health Systems (Healthcare)
Financial distress probability: 6.88 percent
Accounting and governance risk: Very Aggressive
Market Cap.: $1,752,400,000

Poorer patients and lower Medicare reimbursements have hurt the hospital sector. Community Health Systems has suffered particularly on deteriorating net income and poor profit margins, according to The Street. The company recently sold two of its hospitals in Oklahoma.

The Next Round of Companies That Could Go BankruptDynegy Inc. (”ancillary services to . . . energy companies”)
Financial distress probability: 10.61 percent
Accounting and governance risk: Aggressive
Market Cap.: $680,740,000

Bondholders who believed they were shortchanged by Dynegy’s restructuring recently sued the company. The restructuring was done to try and “help Dynegy avoid bankruptcy.”

The Next Round of Companies That Could Go BankruptStandard Pacific Corp. (Construction)
Financial distress probability: 13.35 percent
Accounting and governance risk: Very Aggressive
Market Cap.: $493,090,000

Standard Pacific CEO Ken Campbell will step down next year after attempting an aggressive turnaround. The California luxury home builder bought large amounts of land in 2009 and made a number of layoffs and cost cuts. It has been losing money since 2010, as the housing market double dips.

The Next Round of Companies That Could Go BankruptClearwire Corporation (Wireless Communications)
Financial distress probability: 14.93 percent
Accounting and governance risk: Aggressive
Market Cap.: $2,240,700,000

Clearwire’s WiMax 4G network— used by Sprint—is getting edged out by Verizon and AT&T’s LTE 4G networks. The company will be in even more toruble if the AT&T/T-Mobile deal goes through. Furthermore, Clearwire shares declined since the reports of Sprint’s money-losing deal on the iPhone came out, which makes Sprint less likely to by its struggling part.

*Market Cap. is short for “market capitalization.” It is the size of a business equal to its current share price multiplied by shares outstanding.

(H/T Business Insider)

Comments (67)

1 2
  • Bill Rowland
    Posted on October 6, 2011 at 7:05am

    Isn’t it ironic that Obumbler is out wanting his “ jobs” bill passed right now. While he is doing this and appearing on all the MSM “news” shows, the EPA and others are publishing regulations and he is signing executive orders that are destroying more jobs than he is creating?
    His jobs bill has hidden riders, just like Obumblercare, that take more and more of the rights of the individual and the states.

    OMG – Psalm 109:8

    Report Post »  
    • GilmoreDon
      Posted on October 6, 2011 at 10:09am

      Be careful when making reference to Scripture. The context of the referenced verse is that David (a righteous leader) is saying what evil people, ploting against him, are saying.

      Report Post » GilmoreDon  
    • Detroit paperboy
      Posted on October 6, 2011 at 11:15am

      The only job Obama is worried about is his, and for good reason.

      Report Post »  
    • jaylew
      Posted on October 7, 2011 at 12:12am

      I wish there was at least an agreement among us to separate blog postings from biblical scripture and commentary here. I am finding with frequency that folks using their heart of hearts of course…invoking biblical scripture on a routine basis as their sole responses. Although of course biblical knowledge, familiarity with scriptural background, and the peace and understanding that all of that provides so many in a genuine way…the fact is this. if those of you believe that the bible or other similar religious texts are the words of God…then if you simply cite Gods word as your response here….then you are plagiarizing….those are Gods word not yours…and i am more than sure a kind and loving God will allow you for just a moment or two….to write down words of your own…even though they may be completely inspired by His grace and goodness….can we have like less Bible cites by verse and chapter here? This is primarily a web forum on politics and life in America and it even has a special section for topics on faith….but this constant citing of the King James bible as responses of your own…are NOT responses of your own. You are not turning your backs on God by letting him assist you in forming sentences that come from your mind and mouth and not HIS.

      Report Post » jaylew  
  • orionreplay6607
    Posted on October 6, 2011 at 6:02am

    People I work with always complain about Amazon killing book stores. When I pull out my Kindle to read something at lunch, I get further smirks and eye rollage.

    I can recall when Border’s was Public Enemy #1 for killing Mom and Pop bookstores. When a Border’s opened its doors, it was produced a frenzy like Walmart does today. Then Barnes & Noble would open a similar store in a nearby community. Meanwhile, Amazon always sold books online. The Borders and B&N would duke it out with each other, destroying the Mom and Pop bookstore landscape like the aftermath of a nuclear war.

    So, now Borders is gone. B&N is next. Now people bemoan these losses and in lunchtime conversations, it is Amazon who is Public Enemy #1. People just want to place blame with someone other than the closing store themselves. Obviously that store is the victim.

    Long live Amazon. Books online as always and the Kindle was only a specialty niche when it first came out. Now it’s taking off like a rocket. People like 24/7 availability of titles. I know I do. My town has no bookstores at all. Not one. Nearest store is an hour away. Kindle is my way of having the latest titles without driving 2 hours.

    Report Post » orionreplay6607  
    • orionreplay6607
      Posted on October 6, 2011 at 6:04am

      And I have to edit my post. That nearest store an hour away was a Borders… now I’m not sure where I would go for a brick and mortar store. Have to rethink my argument.

      Report Post » orionreplay6607  
    • compressed
      Posted on October 6, 2011 at 10:16am

      Actually with Borders and B&N gone, this may be the return of the mom & pops. They have much less overhead and there still needs to be an outlet for physical books. People do like that if in less numbers than a decade ago.

      Report Post »  
  • GERATMO
    Posted on October 6, 2011 at 6:00am

    I used to work for Shaw 3 years ago when bussiness started to decline. We built piping for nuclear and oil refineries but as soon as Obama took over, those industries started their decline.

    Report Post » GERATMO  
  • blue_sky
    Posted on October 6, 2011 at 4:37am

    Let’s check, who was for the last bail outs to monopolies (youtube records of interviews available)
    Bush
    Obama
    Perry
    Romney
    Cain
    ===============
    Status Quo politicians, more of the same.

    Report Post »  
    • NativeOutlander
      Posted on October 6, 2011 at 9:57am

      You might want to remove Herman Cain from this list. I have listened to Mr. Cain on the radio here in Atlanta from his first day on WSB. He was not for the bail outs. He ranted against them as the Government was and is trying again to pick winners and losers. Herman is a free market man. This makes no sense.

      Report Post »  
    • pdh42
      Posted on October 6, 2011 at 6:46pm

      Blue-sky do not let the facts get in the way of your story…. Besides most people will not back check you to find that you are wrong about Herman Cain…. Unfortunately they will believe what you wrote….

      Report Post »  
  • The_Almighty_Creestof
    Posted on October 6, 2011 at 12:45am

    Barnes & Noble would do better if they would just open their darn doors! I get off work at 9AM and often head over to their store in town…always forgetting that they don’t open until 10AM!

    Think I’m going to hang around until 10AM when I can head home and order what I want from Amazon and make my breakfast…all before 10AM?

    I used to love going there and browsing things I had not thought of buying (and often buying some of them) …I did not even mind paying a little more, because I did not have to wait for delivery.

    It’s odd…BestBuy does not open until real late…Wendy’s does not open here until 10AM or 10:30AM…don’t they want sales?

    Report Post »  
    • WeeDontNeedNoSteeeenkinBadges
      Posted on October 6, 2011 at 5:26am

      Fortunately, businesses like Best Buy and Barnes & Noble support homosexual causes and donate money, your money in their profits, to pollute America with perversion. Good riddance to them.
      (You see? There are silver linings in dark clouds.)

      Report Post » WeeDontNeedNoSteeeenkinBadges  
  • COFemale
    Posted on October 6, 2011 at 12:23am

    So when all of America goes belly up, where does that leave all the people on welfare? Who are they going to get to bail them out. All the rich people will be gone, all the middle income people will be gone. The Democrats think the poor is poor now, what until they really screw up America. Oops! that didn’t go as planned.

    Report Post » COFemale  
    • Elena2010
      Posted on October 6, 2011 at 12:46am

      They will attack your pantry demanding food.

      Report Post » Elena2010  
    • pamela kay
      Posted on October 6, 2011 at 5:59am

      This is what puzzles me. Do the people on welfare and the people that belong to the unions really think that they will be taken care of? Do the college students protesting think their tuitions will be free or that grants will be possible? Will the illegals continue getting their free ride? NO, we will all be in the same boat without life-jackets.

      Report Post » pamela kay  
    • pjgroff61
      Posted on October 6, 2011 at 8:39pm

      “Elena2010
      Posted on October 6, 2011 at 12:46am
      They will attack your pantry demanding food.”

      Great, let them try, I keep a large supply of precious metal just for such purposes. Oh I forgot to mention that the precious metal is Lead. Available in .223 doses, just made for those moments when large crowds drop over unannounced. ;-)

      Report Post » pjgroff61  
  • BrokenHearted
    Posted on October 6, 2011 at 12:11am

    Keep in mind Obama is just a puppet…he is being told what to do by the powers that be. As for those that live here that want to see it all fall apart, they have no idea what hard life is all about, what a surprise they are in store for. Most of which have little to no common sense and will starve very fast. But first they will cry for their mommies. Grow up youth of America and use what little intelligence you have and make things better not worse.

    Report Post » BrokenHearted  
  • therapist
    Posted on October 5, 2011 at 11:48pm

    Some of this is the free market. Applebees food sucks, small portions, high prices, lousy food. B&N expensive, limited selection compared to Amazon, just the market. The others…don’t know.

    Report Post »  
    • simply one voice
      Posted on October 6, 2011 at 12:41am

      I‘m sure you’ll come up with some negatives about them all, if need be. Nothing about Obama, though or, the economic devastation of our country’s treasury of the working class that has been stolen and squandered.

      Report Post » simply one voice  
    • lodgerat
      Posted on October 7, 2011 at 5:33am

      Last time at Applebee’s the wife and got food poisoning from the salad. We were sick for 4 days. I can hardly wait to go back….NOT

      Report Post » lodgerat  
  • dtsiouts
    Posted on October 5, 2011 at 11:16pm

    Well that is what free markets are all about. Now if these companies can get the Administration convinced of their value to the economy and society in general, they can probably all get bailed out. Government Motors, GM, Government restaurant, GR, Government Books, GB. I could go on. The serious side of this is, that in a good way, the strong and competitive survive, the weak ones fade and a new store, industry, or market eventually comes into the picture. I can say that I wish the economy was better so that these kinds of strains and potential failures were not so prevalent. Living under capitalism can be a double edged sword. It again indicates how poorly the public trust is being administered by the government at this particular time. All things pass. November 2012 is very close thankfully.

    Report Post »  
  • DallyWama
    Posted on October 5, 2011 at 11:06pm

    @GlennRock

    You are right. But if they think the new “system” will benefit them, they are sadly mistaken. Just ask the Germans what the new “system” brought them. To be sure: It will be bliss at first, but after the monetary system stabilizes it will be pure squalor.

    Report Post »  
  • rdietz7
    Posted on October 5, 2011 at 11:01pm

    Thats cool I patron none of these over priced companies

    Report Post » rdietz7  
  • glennrocks
    Posted on October 5, 2011 at 10:23pm

    The young people want the country to fail. They like Obama because he will cause the failure, hence a new system will be put in place. They think this will be a better fairer system. We can thank the college Professors who brainwashed the students. We can thank parents for raising kids with a huge sense of entitlement.

    Report Post »  
  • RightPolitically
    Posted on October 5, 2011 at 10:04pm

    Obama’s finest hour of destruction is upon U.S.

    Report Post » RightPolitically  
    • Anamah
      Posted on October 5, 2011 at 10:51pm

      Obama is the star now but the truth is all Democratic Party has been coopted by Soros Marxists revolutionaries to dismantle the exceptional American system. Progressives in both parties allow the government to grow and crush little by little the public power over the private sector which is the key to create wealthiness and productivity. Democrats do not understand freedom and creativity. They are strangling the ability to prosper.

      Report Post »  
  • RightPolitically
    Posted on October 5, 2011 at 10:03pm

    Hey Blaze, get your act together. Just wrote a rather good comment here and just before hitting the posting button, the page decides to refresh all on its own……….and all is LOST. Damn it, I’m upset by this!

    Report Post » RightPolitically  
    • nomodimcrats
      Posted on October 5, 2011 at 10:25pm

      shut up

      Report Post »  
    • stephenmarkovich
      Posted on October 6, 2011 at 4:13am

      Always copy yoiur work because you may want to say the same thing on a different but similar site(s).

      Report Post »  
    • Hiswill
      Posted on October 6, 2011 at 10:53am

      It happens to all of us at one time or another. I always write my stuff in Word before copying to the blaze.

      Report Post » Hiswill  
  • SandyfromChesterfield
    Posted on October 5, 2011 at 9:56pm

    That makes me sad to hear that Barnes & Noble is on the list.

    Report Post »  
  • Sirfoldallot
    Posted on October 5, 2011 at 9:50pm

    Take care of ur self , love 1′s & fiends. HOLD ON !!!!!!

    Report Post » Sirfoldallot  
  • Hickory
    Posted on October 5, 2011 at 9:32pm

    Obama killed my company.

    Report Post » Hickory  
    • TSUNAMI-22
      Posted on October 5, 2011 at 9:44pm

      Obama will probably sink the world if left unchecked.

      Report Post »  
    • Robert Hawk
      Posted on October 5, 2011 at 9:50pm

      Sorry to hear about that. His economic polity put a serious dent in our company as well. We lost a lot of good folks due to Mr Obam as policies

      Report Post » Robert Hawk  
  • Dustyluv
    Posted on October 5, 2011 at 9:25pm

    Time to cut the control of a Government that wrecks business. Communism and Marxism kill jobs and put companies like this out of business. We the People need to stand up and keep our money. They cant put us all in prison. Businesses need to stop paying their taxes and stop withholding peoples money out of their paycheck. Damn the torpedoes…they cannot survive without OUR money!!

    Trouble is…who has the balls to go Gault first? I am off the grid as far as paying income taxes becuase my money is made. I dont spend money because I dont want to pay sales taxes. I have gone as far Gault as i can. They can come get my house for taxes in a few years I suppose. Screw them! I will not fund a corrupt Government. Yes they get the gas tax from me and the taxes for produced foods. yes they get all the hidden taxes from me, thats all……That could end if the businesses would stop handing it over…

    Our country does not have an income problem, we have a spending problem!!!!!!!!!!!!!!!!!!!!!! Time to cut the cord. Go Gault!!!

    Report Post »  
    • KrishnaDas
      Posted on October 5, 2011 at 10:47pm

      Dustyluv: small correction – Galt :) But I get the point and have often wondered that if people were to rebel in unison, then a difference could be made. I think that taxes that come out every paycheck, if people had to pay them at the end of the year, people would think differently about raising taxes.

      Report Post »  
    • Cat
      Posted on October 6, 2011 at 7:14am

      Mr. Cain is proposing a change in the way taxes are paid, not spent.
      Be careful with this one.

      If you look at your personal income tax rate now, it’s close to 9%, maybe a little higher.
      If you own a company, as I do, the company does not pay taxes, it’s not supposed to.
      All wealth transfers to the personal wealth of the employees.
      Yes, the company does pay taxes on the property the building sits on but it does not pay an income tax.
      The firm’s profits are divided in several forms.
      To start with, it’s set up as a cooperative with profit sharing.
      Before the end of the fiscal year, bonuses are paid, benefits are modified and whatever has to be done to force the double ledger to reflect dollars in equals dollars out.

      Yes, there are other write-offs, but Mr. Cain says there will be no write-offs under his plan
      So, the firm will pass all profit to the members of the cooperative in the form of profit sharing.
      The government will then make a guaranteed 9% on the companies profit through the employees personal income, which increases, but only if the company does well.

      Next, Mr. Cain plans to impose a 9% national sales tax on goods and services.
      EVERTHING will go up in price.
      We do NOT have a VAT tax now.
      The feds have been wanting a VAT for a LONG time.
      This is their way of getting one, on top of the income tax.

      Your state will also have a blast with Mr. Cain’s plan, and your money.

      Report Post » Cat  
    • Andreaweingarten
      Posted on October 7, 2011 at 5:10pm

      Cat – Guess what? Drug dealers, hookers and other tax evaders (ie. Tim Geithner) will get to contribute 9%!!! Not to mention, foreigners who go to Disneyland (still NO sales tax on amusement parks in Ca.) This is GREAT!

      Report Post »  
  • libertytreecaretaker
    Posted on October 5, 2011 at 9:09pm

    Obama can’t fundumentally transform this country until he completely destroys it! He told everyone that during his last campaign.

    Report Post »  
    • commonsenseguy
      Posted on October 5, 2011 at 9:18pm

      and he and his communist buddies have done everything they said they would, and not one media outlet has or will cover the story,and even if they would, they would not tell the truth,and unfortunately, obama will continue to push even harder to force his and george soros new world order or communism order until 2012, after that we either vote him out or we are doomed.

      Report Post »  
  • tifosa
    Posted on October 5, 2011 at 9:07pm

    Well, since “companies are people,” and y’all agreed with Cain that people are responsible for their own unemployment…’nuff said.

    Report Post » tifosa  
    • TomFerrari
      Posted on October 5, 2011 at 9:21pm

      Yes, companies ARE responsible for their own demise.
      Over-extending, and not retaining adequate cash reserves are two problems.
      Signing labor contracts that are unsustainable is an even larger problem.
      But, by and large, the absolute largest problem, is government intervention in the free market that is capitalism.
      At least these won’t be “too big to fail” – er, unless obama or his buddies own part of them or make money off of them… Clearwire and Sunpower come to mind – no idea why.

      Report Post » TomFerrari  
    • FEMALL
      Posted on October 5, 2011 at 9:50pm

      Look Tinkerbell-fosa: Energy and Housing. If you haven’t figured out your employer has a dwindling ROI and you might be better off in the food or used tire business then you are responsible for your own unemployment. There are no guarantees except death and taxes.

      Report Post » FEMALL  
  • marhee9
    Posted on October 5, 2011 at 9:05pm

    This should really please those protesting on Wall Street. I would suggest that those morons should read Atlas Shrugged, but at the end of the day they wouldn’t understand it anyway. They won’t understand until the free ride is over. http://www.youtube.com/watch?v=NVBEevXrITc

    Report Post »  
    • Puddle Duck
      Posted on October 5, 2011 at 9:39pm

      The free ride is almost at an end…then the real screaming will start…….this downturn has been skillfully exploited by the Democrats in order to stack the deck against the free market system….what they did not count on was the fact that most of us have unmasked these key players, some of which were swept out of office in the last 2 years with the vast majority of those still arrogant enough to run in the coming elections to be relgated to the dust bin of history forever linked to the shame of trying to destroy the greatest nation,system that earth has ever known. There are enough patriots left to turn this all around although the problems faced are twice as ;arge as those faced by Reagan in 1981. That being said the country with the right leadership , courageous lawmakers, and renewed commitment to REAL free market capitalism can turn this mess around in remarkable speed. It’s time we rolled up our collective sleeves and get down to business.

      2012 is the first step in turning this all around. It’s not too late.

      Report Post » Puddle Duck  
    • yiska8
      Posted on October 5, 2011 at 10:02pm

      Read it. Got it. Loved it. These useful idiots are weak minded and easily controlled and manipulated. They do not have an attention span for more than 10 seconds at a time to figure out what topping they want on their Starbucks, let alone 1500 pages of Rand. They are the Takers and they are proud of it. Galt’s Gulch is the place to be when it all comes down because of this President and his mindless army of worthless zombies. I suggest everyone who is still rational to find their own Gulch and be ready to build anew when the dust settles. The hardest thing to do is to walk away and let them destroy what has been accomplished, but it may come to that in order to start over and prosper greater than before. It was hard for Dagny Taggart and it will probably be hard for us to imagine doing the same in our day and time. Rand was right on the mark. Almost prophetic.

      Report Post » yiska8  
    • watchdog1
      Posted on October 6, 2011 at 3:20am

      Wow, great point made by Don Smith…..these people on the left who say these things are evil and it will catch up to them, just be patient children.

      Report Post »  
  • Stoic one
    Posted on October 5, 2011 at 8:57pm

    Hmn…. too much government intervention for too long, perhaps?

    Report Post » Stoic one  
    • CatB
      Posted on October 5, 2011 at 9:04pm

      Watch Obama run right out and “invest” American TAXPAYER money in these losing companies .. or has he already?

      TEA!

      Report Post »  
  • Zcat
    Posted on October 5, 2011 at 8:56pm

    CBO: Obama jobs bill would add $175B in new spending

    Operation Destroy America.

    Congressional budget examiners have projected President Obama’s jobs bill will increase spending by $175 billion over 10 years.

    That’s less than the White House’s $447 billion price tag, but the nonpartisan Congressional Budget Office did not include the major tax cuts in Obama’s proposal when it offered its score.

    The figures released by CBO on Wednesday represent a preliminary estimate of the increased stimulus spending in President Obama’s jobs proposal. CBO and the Joint Committee on Taxation are still working out the comprehensive cost of the bill, which would include Obama’s tax proposals.

    Obama has proposed that the measure be paid for by a number of tax hikes on the rich and on businesses, but Senate Democrats plan to go in a different direction.

    Senate Democrats on Wednesday said they would revise the president’s bill in order to change the way it is paid for. Instead of increasing taxes on the upper-middle class, people earning above $250,000 a year, the Senate bill proposed a 5 percent surcharge on millionaires.

    The biggest-ticket spending item in the Obama plan is an effort to expand high-speed wireless access. That would cost $121 billion over 10 years. Immediate transportation spending would cost $49 billion and extending unemployment benefits would cost some $44 billion. Some reduced spending is found in the wireless program, a reduction of $15 bil

    Report Post »  
    • commonsenseguy
      Posted on October 5, 2011 at 9:14pm

      and everyone { not everyone,just some } will get free internet and free cable,it is a right, i hope you really don’t believe any of the things you just posted, we don’t have 10 years, and besides when was the last time anyone every honored any thing that they aid the would even 1 year later,all smoke and mirrors, never trust the government remember,the cbo also said that obama care would not add to the deficit and it would only cost a little bit, but now look, the truth has come out and holy crap, i can’t even count that high, so really you don’t believe this crap sandwich do ya????

      Report Post »  
  • Callisto
    Posted on October 5, 2011 at 8:54pm

    Not IHOP. Please God not IHOP.

    Report Post » Callisto  
    • Zoe
      Posted on October 5, 2011 at 9:09pm

      Where’s everyone going to go to duke it out?

      Report Post » Zoe  
  • Zcat
    Posted on October 5, 2011 at 8:53pm

    CBO: Obama jobs bill would add $175B in new spending

    Operation Destroy America.

    (The Hill) — Congressional budget examiners have projected President Obama’s jobs bill will increase spending by $175 billion over 10 years.

    That’s less than the White House’s $447 billion price tag, but the nonpartisan Congressional Budget Office did not include the major tax cuts in Obama’s proposal when it offered its score.

    The figures released by CBO on Wednesday represent a preliminary estimate of the increased stimulus spending in President Obama’s jobs proposal. CBO and the Joint Committee on Taxation are still working out the comprehensive cost of the bill, which would include Obama’s tax proposals.

    Obama has proposed that the measure be paid for by a number of tax hikes on the rich and on businesses, but Senate Democrats plan to go in a different direction.

    Senate Democrats on Wednesday said they would revise the president’s bill in order to change the way it is paid for. Instead of increasing taxes on the upper-middle class, people earning above $250,000 a year, the Senate bill proposed a 5 percent surcharge on millionaires.

    The biggest-ticket spending item in the Obama plan is an effort to expand high-speed wireless access. That would cost $121 billion over 10 years. Immediate transportation spending would cost $49 billion and extending unemployment benefits would cost some $44 billion. Some reduced spending is found in the wireless program, a red

    Report Post »  
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