Bain Capital

Does Macy’s Deserve YOUR Business? Hell No!

Macy’s CEO to American People: Drop Dead

As a Thanksgiving treat, Terry Lundgren wants to gut Medicare, Medicaid and Social Security

…Lundgren and a coalition of other big-time CEOs are lobbying Congress to cut Medicare, Medicaid and Social Security benefits so that they can enjoy tax breaks. Obviously, Lundgren did not take Econ 101, which would have demonstrated to him that reaching into the pockets of people will leave them without enough dollars to buy your products. It’s very simple, Mr. Lundgren. Your job and your stores are supported by the spending power of the American consumer. Robbing that consumer by hacking away at hard-earned retirements and healthcare is not going to help your bottom line.

…Such is the spirit of giving in the world of big business. Many Americans are outraged and cutting up their Macy’s cards and signing petitions in protest. You can actually choose among petitions. There’s the Macy’s v. Medicare petition, or if you prefer, there’s also a petition urging Macy’s to end its partnership with the race-baiting Donald Trump. The “Dump Trump” petition has already collected over 650,000 signatures, but Lundgren stands by the loopy real estate mogul .

The Fix the Debt coalition, unsurprisingly, features a heaping helping of fat cat financiers (whose names should be familiar to all of you): More →

Keystone XL: A Pipeline to Higher Oil Prices

  • Midwestern refineries produce more gasoline per barrel than refineries in any other region in the United States. That gasoline is then sold to U.S. consumers.
  • In contrast, refineries on the Gulf Coast of Texas produce as much diesel as possible, much of which is exported internationally.
  • The Keystone XL tar sands pipeline would divert oil from the Midwest to refineries on the Gulf Coast of Texas. By taking oil from Midwestern gasoline refineries to Gulf Coast diesel refineries, Keystone XL will decrease the amount of gasoline available to American consumers.
  • TransCanada, the company sponsoring the pipeline, pitched the pipeline to Canadian regulators as a way of increasing the price of crude in the United States. Right now, Midwestern refineries are buying crude oil at a discount—and a deep discount at that. This allows them to produce products more cheaply than they would otherwise be able to. Building Keystone XL would change that. If TransCanada’s analysis is accurate, under current market conditions, Keystone XL would add $20 to $40 to the cost of a barrel of Canadian crude—increasing the cost of oil in the United States by tens of billions of dollars.

    To read more about the Keystone XL scam, John Boehner’s favorite legislation, considering it was his last holdout bargaining position on the last extension of middle class tax cuts, please click here