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Carlos Slim, World’s Richest Man, Gets Richer Supplying ‘Obamaphones’ to Poor
FOX News ^ | October 10, 2012 | By Perry Chiaramonte

Posted on 10/10/2012 1:53:02 PM PDT by Oldeconomybuyer

A Mexican telecom mogul who holds the title of world's richest man, and one of President Obama's top donors are both getting even richer from the U.S. government program that supplies so-called "Obamaphones" to the poor.

Carlos Slim, who has an estimated net worth of $70 billion, owns a controlling stake in TracFone, which makes $10 per phone for each device it provides to poor Americans. The company, whose president and CEO is Frederick “F.J.” Pollak, also makes money from extra minutes and data plans it sells to subscribers who get phones and service through the government's Lifeline program. The program, which began in the mid-1980s, has exploded in the past four years after being expanded from supplying landlines to the poor to providing cellular phones.

(Excerpt) Read more at foxnews.com ...


TOPICS: Business/Economy; Mexico; News/Current Events; Politics/Elections
KEYWORDS: cronycapitalism; election2012; failure; obamaphone

1 posted on 10/10/2012 1:53:10 PM PDT by Oldeconomybuyer
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To: Oldeconomybuyer

obama outsourcing at its finest....


2 posted on 10/10/2012 1:53:53 PM PDT by God luvs America (63.5 million pay no income tax and vote for DemoKrats...)
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To: Oldeconomybuyer

just another form of corporate welfare


3 posted on 10/10/2012 1:54:50 PM PDT by GeronL (http://asspos.blogspot.com)
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To: Oldeconomybuyer

Who will stop the madness?


4 posted on 10/10/2012 1:55:46 PM PDT by FES0844
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To: Oldeconomybuyer

I wonder how Carlos launders his Obama contributions?


5 posted on 10/10/2012 1:56:49 PM PDT by palmer (Jim, please bill me 50 cents for this completely useless post)
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To: Oldeconomybuyer

Uncle Charlie didn’t send me a phone. :(


6 posted on 10/10/2012 1:57:06 PM PDT by Tijeras_Slim
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To: FES0844

Well, since the federal government isn’t Constitutionally authorized to do ANYTHING like “obamaphones”,

perhaps a return to Constitutional gov’t would do the trick?

Just thinkin’ out loud.


7 posted on 10/10/2012 1:58:55 PM PDT by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: Oldeconomybuyer


Obama Zombie shrieks about how her Savior is great because he gave her a free phone & "Romney sucks"

Vote Obama in President!
8 posted on 10/10/2012 1:59:07 PM PDT by SeekAndFind
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To: Oldeconomybuyer
FedGov sends firearms south to arm cartels.

Billionaire oligarch sends phones north to buy voter loyalty.

What could go wrong?

9 posted on 10/10/2012 1:59:24 PM PDT by aposiopetic
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To: Oldeconomybuyer

Looks like a win-win for everyone but the taxpayer.


10 posted on 10/10/2012 1:59:36 PM PDT by Raycpa
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To: Oldeconomybuyer

I’m guessing that this Carlos Slim got rich from crony capitalism and corruption. I don’t think Mexico is a model for free market capitalism. Neither is the US anymore. Hopefully starting in January ‘13, that will change.


11 posted on 10/10/2012 2:03:13 PM PDT by lormand (A Government who robs Peter to pay Paul, will always have the support of Paul)
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To: Oldeconomybuyer

Everytime we pay a phone bill Carlos Slim gets fatter.


12 posted on 10/10/2012 2:03:50 PM PDT by Uncle Chip
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To: Oldeconomybuyer

Slim owns monopolies in a country that allows monopolies.

Most other countries don’t allow this, so his wealth cannot be gauged by others.


13 posted on 10/10/2012 2:04:45 PM PDT by stephenjohnbanker (God, family, country, mom, apple pie, the girl next door and a Ford F250 to pull my boat.)
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To: lormand

” I’m guessing that this Carlos Slim got rich from crony capitalism and corruption. I don’t think Mexico is a model for free market capitalism.”

See #13.


14 posted on 10/10/2012 2:06:29 PM PDT by stephenjohnbanker (God, family, country, mom, apple pie, the girl next door and a Ford F250 to pull my boat.)
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To: stephenjohnbanker
It's a shame that our observations are never mentioned when the corrupt media talks about this guy.
15 posted on 10/10/2012 2:11:35 PM PDT by lormand (A Government who robs Peter to pay Paul, will always have the support of Paul)
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To: lormand

Yes, he did get rich through cronyism.

I believe when the Mexican telephone company went private he knew the right people and got involved with the Mexican officials in power at the time.

A friend of mine knows his nephew, went to the wedding paid for by Carlos. It took a couple of days for all the parties, fireworks on the beach, etc.


16 posted on 10/10/2012 2:11:40 PM PDT by Aria ( 2008 wasn't an election - it was a coup d'etat.)
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To: Oldeconomybuyer

BFLR


17 posted on 10/10/2012 2:27:58 PM PDT by rockinqsranch (Dems, Libs, Socialists, call 'em what you will, they ALL have fairies livin' in their trees.)
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To: SeekAndFind

Ewww! WHAT is in her MOUTH?!?!?! It sure isn’t teeth.


18 posted on 10/10/2012 2:35:56 PM PDT by arasina (Communism is EVIL. So there.)
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To: Oldeconomybuyer

Carlos Slim, has to pay the DNC 20%. The Chicago Way.


19 posted on 10/10/2012 2:41:47 PM PDT by hadaclueonce (you are paying 12% more for fuel because of Ethanol. Smile big Corn Lobby,)
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To: Oldeconomybuyer
Is Slim's company supposed to give them away for free?

Do we blame the Supermarket for accepting Food Stamps?
20 posted on 10/10/2012 3:15:05 PM PDT by kenavi (Obama doesn't hate private equity. He wants to be it with our money.)
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To: Oldeconomybuyer

Bump


21 posted on 10/10/2012 3:47:25 PM PDT by lowbridge (Joe Biden: "Look, the Taliban per se is not our enemy.")
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To: Oldeconomybuyer

You guys are nuts. He invests $156,000 in campaign contributions and makes $38 million in phones. I would do that every day.


22 posted on 10/10/2012 4:19:41 PM PDT by gotribe (He's a mack-daddy http://www.youtube.com/watch?v=AV415yit7Zg)
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