jobs

Dear Senator Clinton: (0 / 0)

Hi.

My name is Leslie Hubbard.

I live in NC, near the Research Triangle park. I lost my telecom job in 2002 because of NAFTA. So did all my coworkers. It's almost 2008. I still don't make what I made in 2002. With all due respect, Senator, I can't for the life of me figure out what you find so funny about that ... numbers, charts and Ross Perot be damned.

It's pretty clear that you don't really understand the reality of OUR economy in the post-NAFTA world. God bless your husband, but clearly he don't get it neither. Y'all don't get or you've forgotten what it's like to not have enough to eat, to not have even a dollar to your name when the last cup of rice is gone and the small garden in the yard is playing out in the early weeks of fall.

It seems there's a lot of people that think the one reason the Philip Morris plant in Concord is closing is because people smoke less. I think that's BS.

It's a dark day for the economy here in Cabarrus County.

The parent of the Philip Morris cigarette companies (Altria) said Tuesday it will close a Concord manufacturing plant that employs 2,500 people off U.S. 29 as it moves cigarette production for non-U.S. markets to Europe.

Rep Sue Myrick (R-NC) decided to pull her account from Bank of America since BOA's new credit card was illegal immigrant friendly. In hopes of scoring political points, Myrick said she would move her funds to Wachovia Bank, based out of Charlotte NC. Patriotic, right? Not so fast Sue - your new bank is sending thousands of NC jobs to India. This is not likely to win the hearts and minds of your constituents who wind up jobless. The jobless still get to vote, and so do their friends.

Ten eastern NC counties lost population from 2005 to 2006, continuing an alarming trend. Of the counties that lost population, a dozen had fewer people than in 2000. Ten of the 12 are in Eastern North Carolina.

Lost industry and jobs in those areas has fueled the migration of people away from these areas and efforts to draw new businesses to the region has not helped as expected even after the state spent millions of dollars to attract new companies and jobs.

The N&O report paints a gloomy picture for that part of the state. "We keep hoping things are going to get better, but it hasn't happened," said Claudia Cahoon, a Hyde County native who works nights at Hyde Correctional Center and runs a struggling seafood business during the day. "You've got to love it to stay here."

The article further states that "eastern North Carolina leaders say the biggest challenges lie ahead for counties that are too far from the coast to attract tourists and retirees and too far from urban centers to attract commuters. Without the textile plants and small tobacco farms that once fueled their economies, some say, there are few prospects for growth."

According to a study by the N.C. Budget & Tax Center in a March 21, 2007, article by Jonathan Cox at the N&O, the method NC uses to estimate benefits to be gained from large give-aways to lure business to NC is flawed. This means lawmakers making key decisions to give away future income and tax benefits to companies in exchange for building in NC are based on misleading information that does not accurately predict the benefits of the deals.

"Instead of pumping millions of dollars into state coffers, some economic development deals might actually be costing revenue and hurting taxpayers, according to the study by the N.C. Budget & Tax Center, a non-profit group that advocates for the poor."

Read the complete article...

News and Observer
March 2q1, 2007
Jonathan B. Cox, Staff Writer

Report challenges N.C.'s incentives formula

State officials overestimate the benefits gained from companies that get rich incentives to expand in North Carolina, a report says.

Instead of pumping millions of dollars into state coffers, some economic development deals might actually be costing revenue and hurting taxpayers, according to the study by the N.C. Budget & Tax Center, a non-profit group that advocates for the poor.

WACHOVIA BANK CORP - Riches for CEO, Unemployment for workers -

Wachovia CEO gets $18 Million March 10, 2007. CHARLOTTE - The chairman and chief executive of Wachovia Corp., Ken Thompson, received compensation that the company valued at nearly $18.4 million in 2006, according to a regulatory filing yesterday.
http://www.journalnow.com/servlet/Satellite?pagename=WSJ%2FMGArticle%2FWSJ_BasicArticle&c=MGArticle&cid=1173350135956&path=!business&s=1037645507703

AND, SOON TO OUTSOURCE NORTH CAROLINA PROCESSING JOBS TO INDIA

Businessweek JANUARY 30, 2006

Wachovia will have outsourced 500 to 1,000 jobs, with plans to move an additional 3,000 or so by the end of 2007. ..Most, but not all, of those jobs are going to India....