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Cray’s profit eaten up by goodwill charge.

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Published in the Seattle Times Tuesday, February 10, 2009: “Cray’s profit eaten up by goodwill charge.”

“A major goodwill impairment charge kept Cray from being profitable in 2008.
The Seattle supercomputer maker reported today that Revenue for the fourth quarter increased 171 percent to $155.4 million, thanks to acceptance of a major new supercomputer by Oak Ridge National Laboratory. For the year, revenue increased 51.9 percent to a record $282.9 million.
The acceptance was worth about $100 million, and the company had expected it would lead to profitability for the year.”

“However, that was before it took a $54.5 million noncash goodwill write-down in the fourth quarter. The company now shows no goodwill on its Balance Sheet. A spokesman for Cray could not immediately be reached to explain the charge.”

No damn wonder the spokesperson was rendered mute!

The article goes on to explain that Goodwill is carried as an intangible asset on a company’s Balance Sheet, and usually represents the amount paid in an acquisition over the acquired company’s book value. Companies are required to periodically compare that value being carried as an asset in the Balance Sheet to the fair value of the asset, and write-down any deficits.

Okay, as far as it goes.

However, nowhere in my experience have I found it required that the write off be to the Income Statement, where it appears as an expense, reducing taxable income!

Obviously, if the books are to remain in balance then every credit requires a debit, and vice versa. This entry would require a credit (reduction) to an asset: Goodwill – and need to be offset by a debit somewhere else in the books. Since a debit to the Income Statement represents an expense and reduces taxable income, let me suggest a more appropriate entry.

The company has overestimated the value of an acquisition. It had to be booked as an asset at its actual value, with the amount of the overpayment booked as an additional intangible asset: Goodwill.

Now, the chickens have come home to roost, and the company is required to adjust the asset list to its actual tangible values.

The appropriate entry, in my humble opinion, would have been a debit (reduction) in the Shareholders’ Equity.

Pay taxes on your profits. Keep the results of your financial games in the Equity section of the Balance Sheet, where they belong.

The final phase before the emergence of the North American Union

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The coming collapse of our nation is no accident.

 

What is about to befall us is no accident.  The planning that has gone into the destruction of not only our economy, but our sovereignty as a nation has been carefully staged to make it appear almost accidental and will presented as the only way out.

 

The Security & Prosperity Partnership that erodes our sovereignty is not an accident and neither is the intent to merge the US, Canada and Mexico into one big corporately controlled region which recognizes neither sovereignty nor national identity.

 

To facilitate this coup, successive congresses have ceded their authority not only to the executive, but also to government agencies created for the sole purpose of implementing various aspects of this coup intended to dismantle individual pieces of the plan.  Then over the last eight years, our economy was intentionally brought to the edge of ruin;  an edge that will never see us returned to our former state.

 

The bailout bills, stimulus bills are all focused on maintaining the same institutions and agencies that have created the crisis.  All the admonishments we have been subjected to regarding globalization, free markets, free trade, capitalism and how necessary these things were to a thriving economy have shown themselves to be nothing more than the tools for destroying one economy after another while a select few benefited enormously at everyone else’s expense.  Again, this was no accident.

 

If any one of the arguments for the unmitigated greed that has taken place were actually true……why didn’t we, in a free capitalist, free market, free trading, no interference in corporate business……let these businesses go down just like we are letting homeowners and workers?  Just like we are allowing small businesses and enterprises to?

 

While we bail out one corrupt sector after another not one of those concerned politicians offered up the idea of borrowing a trillion dollars to bail out main street.  That would be unconscionable…that would be socialism! Or worse…communism!  But we have no problem with fascism.  We castigate homeowners who overextended themselves, but reward predatory lenders, mismanaged investment companies, banks and insurance companies.  We reward international corporations with multi-billion dollar subsidies and tax credits and breaks while they post billions in corporate profits and then we take part in the social disparaging of those who are on welfare. 

 

We are throwing what will amount to trillions of dollars into the coffers of businesses and individuals who should have been hung publicly for the damage they have done to our nation, but who were instead rewarded for their greed.  And, to add insult to injury….they expect us to finance this debt.  But I have these questions:

 

Why are these companies who got these funds not held liable for repaying them?  If throwing this money into them will make them profitable again….why can’t they repay these loans from their profits rather than taxpayers? 

 

Not one of those individuals who created this supposed crisis has had to give up anything….not assets, homes, cars, yachts, jets….nothing. 

 

On the other hand……how many of you got to keep your home, cars, or anything else you had when you realized you had hit bottom?  Did anyone offer to bail you out?  To borrow money and hold your neighbors responsible for paying it back?

 

Our government as a whole has acted not to protect us, but instead aligned itself with those who they believe will substantially reward them for their efforts.

 

In order for the North American Union to replace the sovereign United States, we had to be destroyed….otherwise we would never accept the conversion.  We have to lose our jobs, our homes, and soon our access to food.  We have to be humbled, made submissive and threatened with our very existence.  We have to have everything we have known, everything we believed in; even our freedom taken from us to make us quietly accept the conversion from free sovereign nation to one of corporate controlled region.

 

We are on the verge of collapse and life as we have known it is about to change radically.  At some point, when enough of us are hungry, homeless and without hope the political corporate monster that we have allowed the government to morph into will show itself.  Those who speak for this monster will start out by saying, ….”We have to act quickly to protect the American people…..at this point I would suggest you make the decision whether to try to run or to stand up and fight for what is rightfully yours.

 

© 2009 Marti Oakley

 

 

 

The Baltic Dry Index and Empty Store Shelves

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What is the Baltic Dry Index, and what does it mean to the economy? Here is a good definition from Wikinvest.com:

The BDI is one of the purest leading indicators of economic activity. It measures the demand to move raw materials and precursors to production, as well as the supply of ships available to move this cargo. Consumer spending and other economic indicators are backward looking, meaning they examine what has already occurred. The BDI offers a real time glimpse at global raw material and infrastructure demand. Unlike stock and commodities markets, the Baltic Dry Index is totally devoid of speculative players. The trading is limited only to the member companies, and the only relevant parties securing contracts are those who have actual cargo to move and those who have the ships to move it.

This is a pretty important indicator, since it is forward-looking. In other words, companies plan what they will need, and book the ships to deliver the purchased goods. If they do not have anything to produce, they do not book the ships.

Take a look at the following video and judge for yourselves if we should be concerned. I don’t know about you, but I will be stocking up on as many things as I can. Here are some suggestions:

1. Start growing some food and learn how to can and dry it. It is not difficult. If a dummy like me can do it, you can too! I dry veggies by laying them on a rack on my counter under the ceiling fan.

2. Start collecting extras of things that you use every day. If you normally buy one toothbrush, get two or three – and don’t forget the toilet paper!

3. Get some good rodent-proof containers and store extra grain, flour, dried fruits and veggies, jerky, and other foodstuffs.

This list is by no means comprehensive, and is only meant to get the ball rolling. Make a list of things you use a lot of and stock up! If the Baltic Dry Index, or BDI, is our best economic indicator, then we are in for hard times ahead! Here is the video from The Green Dragon:

Barb 

Vodpod videos no longer available.

Exposing Wisconsin’s civil rights and criminal abuse against its farmers

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Article Linkhttp://www.opednews.com/articles/Exposing-Wisconsin-s-civil-by-Linn-Cohen-Cole-090207-584.html

 

I have written here before about Mr. Paul Griepentrogwww.opednews.com/articles/In-Wisconsin–The-bell-t-by-Linn-Cohen-Cole-090130-138.html and posted a letter www.opednews.com/articles/Pre-inauguration-reality–by-Linn-Cohen-Cole-090119-205.html and an article he wrote himself.www.opednews.com/articles/A-farmer-and-NAIS-by-Paul-Martin-Griepe-090128-243.html

 

Bush’s USDA promoted NAIS (Premises ID goes along with it) as voluntary though in most states, farmers are led to believe it is mandatory and many means have been used to force them on involuntarily.   Bush suddenly made it mandatory in the last few months before he left.

 

NAIS is one of the Bush regulations receiving an extended (60 day) comment period) by the USDA, though comments have no force.  Monsanto helped write it, Vilsack heads the USDA and is a Monsanto crony and Vilsack has been pushing it strongly.

 

Farm groups have sued the USDA to halt it entirely. www.opednews.com/articles/Legal-Defense-Fund-Files-S-by-Farm-to-Consumer-L-080715-264.html

 

All that said, the DATCP in Wisconsin has itself made NAIS mandatory, making the state a darling of the corporations pushing it. Though the Amish who have very clear and fundamental religious precepts forbidding them from such identification and numbering, Mr. Emmanuel Miller has already been charged by the state for not registering, and Mr. Griepentrog who been donating his time to help him, working “pro se” (doing the legal work himself though he is not a lawyer), is being threatened now.  

 

What is happening to Mr. Griepentrog reflects Wisconsin’s DATCP methods of ramming farmers as fast as possible and by any means – even terrorizing and illegal – onto Premises ID.  In mild terms, this could be called regulatory abuse.  In legal terms, there are issues here of violations of civil rights, of anti-trust issues, and of criminal conspiracy.

 

Below is my letter to Rodney J. Nilsestuen, the head of the DATCP in Wisconsin.  I encourage all of you who read it to write Mr. Nilsestuen yourselves.  His address and email are included.  The last thing the corporations or their corrupted government agencies want is national attention to the harm they are doing and your contact will let them know that we across the country now have Paul Griepentrog’s back, as well as that of the Amish and all the farmers in Wisconsin.  

 

You can write to Governor Nilsestuen at this address:

 

Rodney J. Nilsestuen
Secretary of Agriculture Trade and Consumer Protection
P.O. Box 8911
Madison, WI 53708-8911

rod.nilsestuen@wisconsin.gov 

NAIS Threatens Access to Organic, Local and Sustainable Food

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rev-13-17_s2

http://www.naturalnews.com/025569.html

What is NAIS ~~How Do We Protect Ourselves?

 

Monday, February 09, 2009

 by: Barbara Minton, Natural Health Editor(NaturalNews)

 

At first glance, many readers of Natural News will think the National Animal Identification System (NAIS) is nothing that concerns them because they eat only plant based foods. However, NAIS is only one part of a much bigger issue. The implementation of NAIS directly threatens the ability of everyone to eat locally grown, organic, and sustainable foods, including fruits and vegetables. NAIS is the first step in the final round of the takeover and regulation of all agricultural products, including plant based foods and supplements. Once NAIS is implemented it will be easy for growers of all agricultural products to be pushed around, intimidated and finally taken over by big agribusiness and its best friend, the government. NAIS is the next step in the destruction of the freedom to eat as we choose and enhance our health with supplements.

If you are opposed to the loss of liberty and the expansion of government tyranny that NAIS represents, your help is urgently needed to block the next step in its implementation. Comments must be received at the USDA by March 16, 2009. Specific information and a link to sample comments appear at the end of this article.

Article also incudes:

NAIS hands over production of food to factory farms

What is NAIS?

NAIS will result in a decrease in food safety

Costs are high and benefits are low with NAIS

It is critical that the USDA and Congress hear from the millions of people who will be adversely affected by the NAIS program. This includes animal owners, consumers who care about locally produced, organic, and sustainable foods, taxpayers who object to wasteful government programs and expanding government bureaucracy, advocates for a safe food system, and anyone who wishes to continue to have access to nourishing food and supplements.

Step 1: Submit comments to the USDA online or by mail. The comments must be received at the USDA by March 16, 2009.

Submit comments online at:
http://www.regulations.gov/fdmpubli…
Click on the yellow balloon under “add comments”.

Or mail two copies of your comments to USDA:
Docket No. APHIS-2007-0096
Regulatory Analysis and Development, PPD, APHIS
Station 3A-03.8
4700 River Road Unit 118

Clearly state that your comments refer to Docket No. APHIS-2007-0096.

Here is a link to downloadable sample comments:
http://farmandranchfreedom.org/cont… Click on the sample comments link

STEP 2: Send a copy of your comments to your Congressman and Senators.

You can find who represents you, and their contact information, at www.congress.org

Sources: WWW.naisSTINKS.com research.

Farm and Ranch Freedom Allance http://farmandranchfreedom.org/content/

www.nonais.com

Stop the National Animal Identification System http://sovereignty.net/library/libr…

 

 

Lives Have Been Destroyed by the Federal Government

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http://informationclearinghouse.info/article21963.htm

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The Growing Army of Angry Men

By Mark R. Crovelli

February 10, 2009 “Lew Rockwell” — – One of the hardest things to deal with in the current economic depression is the disgusting hypocrisy of the U.S. congress, the new president, and the members of the Federal Reserve System. It is one thing to be told, as we all are, that we must hand over fat wads of our hard-earned money to these warmongering and thieving snakes or face jail terms, but one feels a whole new level of revulsion when these people make statements to the effect that they, and they alone, are in a position to “save the economy” by “creating jobs.” These statements are made by people who have done virtually everything in their power to destroy the American economy over the last few decades, but who have now proclaimed themselves to be our saviors. Only the most naïve and unlearned among us could possibly be falling for the idea that a bunch of self-serving politicians, bureaucrats and bankers are going to “save” us from problems they have caused.

 

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Capitalism’s Self-inflicted Apocalypse

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http://informationclearinghouse.info/article21957.htm

ich41

By Michael Parenti

February 10, 2009 “Information Clearinghouse” — After the overthrow of communist governments in Eastern Europe, capitalism was paraded as the indomitable system that brings prosperity and democracy, the system that would prevail unto the end of history.

The present economic crisis, however, has convinced even some prominent free-marketeers that something is gravely amiss. Truth be told, capitalism has yet to come to terms with several historical forces that cause it endless trouble: democracy, prosperity, and capitalism itself, the very entities that capitalist rulers claim to be fostering.

Plutocracy vs. Democracy

Let us consider democracy first. In the United States we hear that capitalism is wedded to democracy, hence the phrase, “capitalist democracies.” In fact, throughout our history there has been a largely antagonistic relationship between democracy and capital concentration. Some eighty years ago Supreme Court Justice Louis Brandeis commented, “We can have democracy in this country, or we can have great wealth concentrated in the hands of a few, but we can’t have both.” Moneyed interests have been opponents not proponents of democracy.

The Constitution itself was fashioned by affluent gentlemen who gathered in Philadelphia in 1787 to repeatedly warn of the baneful and dangerous leveling effects of democracy. The document they cobbled together was far from democratic, being shackled with checks, vetoes, and requirements for artificial super majorities, a system designed to blunt the impact of popular demands.

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