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1 posted on 04/06/2013 12:11:13 AM PDT by 2ndDivisionVet
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To: 2ndDivisionVet

And the Obama recovery just keeps chuggin’ along.


2 posted on 04/06/2013 12:17:56 AM PDT by Bob
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To: 2ndDivisionVet

The author really makes you work to get the real story. Warnaco apparently overstated its earnings, probably to raise the stock price so the CEO and others could get bonuses. (Generally, that’s why.) The SEC made a company that was not as profitable as it claimed pay a fine. (That’s what “settlement” means with the SEC.) So, a company that was already on the ropes got a knockout blow from the SEC. That’s why the jobs are going away. Then, the mayor of Milford says, “I with they’d have come to us first…” Meaning, we know taxes hurt this company and we’d have let up some on sucking them dry so the people who vote for me will have jobs. But what Warnaco really did was sell their only real asset, its brand. The acquiring company didn’t need any of Warnaco’s more expensive assets like manufacturing as PVH probably makes everything with (essentially) slave labor in China.


4 posted on 04/06/2013 4:14:17 AM PDT by Gen.Blather
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To: 2ndDivisionVet
Unexpected
5 posted on 04/06/2013 4:57:56 AM PDT by tomkat
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