Skip to comments.Views from the Northwest: JOBS Act legislation designed to speed up startups [BO Heard in March]
Posted on 04/07/2012 9:22:57 AM PDT by SoFloFreeper
So I guess it sorta-kinda will mean more jobs. If anyone had any money TO invest in new business.
Here is the kicker, though...the great leader, Dear Golfer Obama, "admits he first learned about the proposal in early March..."
Which means this little bit of legislation WASN'T EVEN THE DEAR GOLFER'S IDEA! He just found out about it, and globbed on as a "supporter".
We are told by the media how SMART Obama is, what a GREAT thinker he is, and that he is a CONSTITUTIONAL LAWYER. Garbage.
So the next time a friend of yours says "Obama signed the JOBS Act!", you can tell them what it is.
Think of HHS Secretary Kathleen Sebelius writing the Health Care legislation, after the bill was passed...
From the article;
Payne suggests. Just give it a couple of years and Congress will be asking the SEC how they ever let this happen!
As I understand, this bill erases the myriad of rules put into place after the Enron debacle.
Transparency was to be the rule of the day-—not Obama erases transparency!!!
It addresses companies who wish to ‘go public’ who have less than 200 stockholders.
As a life-long bookkeeper, particularly for small business owners, I can state clearly that this is a load of crap.
I have done bookkeerping for a number of literally ONE man companies. I still do books for 2 clients- one I have done for over 40 years, the other about 37 years. Both of these CORPORATIONS are totally owned by the person or family which owns them. They both are ONE man payrolls. IF they ever need a helper for a day or so, they hire someone from Labor Ready.
They would NEVER even think about ‘going public’ and giving up family control over that which they built up over the years. One company was incorporated April 1, 1948!!!!! One in the mid-50’s, now run by the sons of the fathers.
Other companies I did books for include: 3 different engine builders with machine shops-—a shop which tested cylinder heads for flow & magnafluxed for cracks-—a man who was a crankshaft grinder-—2 brothers who owned a number of buildings they rented out-—a geologist who was considered an expert in his field & often was used in court testimony-—a husband/wife pair who sold all kinds of garden supplements & gravel/rocks/etc for landscaping-—a husband/wife who owned a horse boarding stable with over 100 horses there-—a man who ran a roofing company——a motorcycle mechanic who did custom work-—a man who did advertising in the automotive world-—a man who did all kinds of revisions to cylinder heads & other automotive machine work in a large shop. He had only 4 or 5 employees. These are typical SMALL businesses!!!
They require qualified, EXPERIENCED employees & they are NEVER going to ‘expand’ & sell stock to outsiders!!!!!! NEVER!!
NONE-—I repeat—NONE of these persons would EVER think about selling ANY stock in their own company-—not EVER—not for ANY amount of money!!!!!