Showing posts with label Economy. Show all posts
Showing posts with label Economy. Show all posts

Wednesday, July 8, 2009

Whisky jobs to move to China and India? Time to boycott Johnnie Walker?

Japanese product.


The American economy has been hurt by nasty and stupid corporations moving jobs to China and India.

Now there is a risk that Scottish whisky produced by the giant Diageo company will soon be bottled not in Scotland but in India and China.

Diageo's Johnnie Walker has been described as being 'mass produced mouthwash'.

Some people are considering a boycott of Johnnie Walker, Bells, White Horse, Smirnoff, Guinness, Harp lager, Baileys, Captain Morgan and other products made by the giant Diageo company.

Diageo plans 'could ruin Scotch whisky'

DIAGEO plans to end Johnnie Walker's historic links with Kilmarnock in Scotland.

MPs from the four main political parties in Scotland have warned that this could be the beginning of a process that will destroy the Scotch whisky industry.

They sent a letter to Diageo's chief executive Paul Walsh demanding that he reverses the decision to close its Kilmarnock plant and a 200-year-old distillery in Glasgow.

These closures would mean the loss of thousands of jobs and billions of pounds from the economy.

American product.

Alan Gray, of Sutherland and Partners in Edinburgh, is one of the UK's top whisky business analysts.

He says: "I think there is a danger that this could develop into something more and that bottling could be moved outside Scotland."

Diageo plans 'could ruin Scotch whisky'

He said that just over 85% of whisky is bottled in Scotland. He warned that Diageo's plans followed similar moves by other major whisky producers.

Scots Whisky is worth just over £3 billion in export sales and even more in the domestic UK market.

Alistair Carmichael, the Liberal Democrat MP for Orkney and Shetland, attacked Diageo's "shabby" treatment of its workers in Kilmarnock.

He warned that Diageo's move could push Scotland's whisky industry into terminal decline, like the steel and coal industries.

Whisky accounts for one in 50 jobs in Scotland.

Angus Robertson, the SNP's Westminster leader, has pointed out that Diageo recently made a profit of £1.6bn.

If Diageo bottles its whisky in China and India it would save huge amounts of money.

Diageo owns 28 of the 100 whisky distilleries in Scotland and controls around one third of the products.

Diageo plans 'could ruin Scotch whisky'



"Many of Scotland's biggest, best and most eminent companies - the House of Fraser, Anderson Strathclyde, The Distillers Company, Arthur Bell, Britoil, British Caledonian, Loganair - have slipped into non-Scottish, usually English, ownership" (George Rosie 1995, The Fletcher Forum)

Diageo controls Guinness and what used to be the Scottish drinks company Distillers

The Guinness share-trading fraud was a famous scandal of the 1980s.

It involved an attempt to manipulate the stock market on a massive scale to inflate the price of Guinness shares and thereby assist a £2.7 billion take-over bid for the Scottish drinks company Distillers.

A top British Jew called Gerald Ronson became known in the UK as one of the 'Guinness Four' for his part in the Guinness share-trading fraud along with Ernest Saunders and business associates Jack Lyons and Anthony Parnes.

Ronson "was convicted in August 1990 of one charge of conspiracy, two of false accounting, and one of theft, and was fined £5 million and given a one-year jail sentence." - Gerald Ronson - Wikipedia, the free encyclopedia

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Key bored warrior: BOYCOTT DIAEGO

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The best Single Malt Scotch Whiskies are made by Bladnoch and by Morrison Bowmore Distillers.

Bladnoch 15 Year Old Sheep Label suggests apricot, citrus fruits, butter toffee, apple, pear, liquorice, melon, raspberry and strawberry.

Equally good is Auchentoshan 3 Wood made by Morrison Bowmore Distillers.

It suggests ripe fruit, spice, nuts, syrup, cinnamon, lemon, butterscotch and oak.

Sunday, July 5, 2009

Goldman Sachs and Bubbles

Goldman Sachs Tower.


Goldman Sachs was founded in 1869 by German Jewish immigrant Marcus Goldman.[2]

In 1882, Goldman's son-in-law Samuel Sachs joined the firm.[3]

On 4 December 1928, Goldman sachs launched the Goldman Sachs Trading Corp. a closed-end fund with characteristics similar to that of a Ponzi scheme.

The fund failed as a result of the Stock Market Crash of 1929.

On 2 July 2009, Matt Taibbi, at Rollingstone.com, told us how how 'Goldman Sachs has engineered every major market manipulation since the Great Depression.'

Matt Taibbi: How GoldmanSachs Seized Washington

Among the points made:

1. Goldman Sachs is the world's most powerful investment bank.

2. 'Goldman Sachs has engineered every major market manipulation since the Great Depression.'

3. There is a two-tiered investment system - one for the insiders, and the other for the ordinary investor who is tricked into to buying investments at soaring prices which the banks know are too high.

4. Think of the profits to be made from selling houses to people who cannot afford them.

5. Think of the money to be made from huge rises in oil prices.

Goldman persuaded pension funds and other large institutional investors to invest in oil futures.

6. Henry Paulson was CEO of Goldman.

Henry Paulson was George Bush's last Treasury secretary.

Henry Paulson was the architect of the bailout, a plan to give trillions of Dollars to a handful of old friends on Wall Street.

Robert Rubin worked for Goldman for 26 years.

Robert Rubin became Bill Clinton's Treasury secretary.

People who worked for Goldman include:

The heads of the Canadian and Italian national banks,

the head of the World Bank,

the head of the New York Stock Exchange,

and the last two heads of the Federal Reserve Bank of New York.

It was Robert Rubin who believed that the American economy and the financial markets were over-regulated and needed to be set free.

7. Former Treasury secretary Paulson decided to let Lehman Brothers — one of Goldman's last real competitors — collapse without intervention.

8. Barack Obama's leading private campaign donor was Goldman Sachs.

Obama's Treasury chief of staff Mark Patterson and CFTC chief Gary Gensler both worked for Goldman.

9. The next bubble is in carbon credits.

The new carbon-credit market is 'a virtual repeat of the commodities-market casino that's been kind to Goldman'.

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