On 10/18/2011 11:23 AM, Steven L. wrote:


"George" wrote in message
:

On 10/18/2011 9:28 AM, RickH wrote:
On Oct 18, 3:57 am, wrote:
"Lowe's Cos Inc is closing 20 of its U.S. locations and eliminating
nearly
2,000 jobs, and the home improvement retailer is slashing its
store-opening
plans to improve profitability."


http://news.yahoo.com/lowes-closes-s...-plan-12372159...

The stores being closed are located in:

Los Banos, CA
Biddeford, ME
Old Bridge, NJ
Westminster, CA
Ellsworth, ME
Batavia, NY
Denver, CO
Ionia, MI
N. Kingstown, RI
Aurora, IL
Rogers, MN
Emporia, VA
Oswego, IL
Claremont, NH
S. Tacoma, WA
Chalmette, LA
Hooksett, NH
Brown Deer, WI
Haverhill, MA
Manchester, NH

"Right sizing" the company to make it nimble. Something GM should
have done. Something the banks should have done, Something the
financial services companies should have done, Something the
insurance companies should have done. Clearing the brush is a good
thing.

Why would any business do that under our "capitalist" system? It
absolutely makes no sense to be prudent when there is only upside and no
downside. If you are a bank and you over expand and make bad decisions
and run the bank onto the rocks you just call up the government and say
"poor widdle me..." If you are a brokerage and make bad decisions and
have huge gambling losses you call up the government and say "poor
widdle me..." And you even get to keep your $10 million bonus(and get a
bigger one next year) for the great work you did.

Rush Limbagh capitalism with only upside is sure a great thing...

Rush Limbaugh and other hard-right conservatives were very much opposed
to those bailouts. They said let the banks fail.

If you remember the Congressional debate over the TARP bailouts of the
banks, the only ones opposed to TARP were hard-right Republicans and
hard-Left Democrats.

Who was in favor of those bailouts: A coalition of "centrist"
Republicans like McCain and "centrist" Democrats like Harry Reid.


-- Steven L.

The angst was mostly about gm since that was an obvious windfall for the
unions. Maybe you forgot the "too big to fail" spin campaign that told
us that all upside and no downside was a good thing for banks?