Bush visit highlights Timken boom, criticism (military contracts)

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http://www.cleveland.com/politics/plaindealer/index.ssf?/base/news/1098437813276130.xml

Republicans call it smart business. Democrats call it "Bush-style capitalism."

After executives of the Canton-based Timken Co. backed President Bush's election in 2000, the Republican president signed tax cuts, executed trade policies and began a military up- grade that has been good for Timken and its executives though, critics say, not as good for the workers in Canton, where three Timken plants might close.

Under Bush, who will visit Canton today to campaign, Timken has seen a 176 percent jump in its military contracts to more than $45 million compared with the last four years of the Clinton administration, a Plain Dealer review of government awards shows. Though not widely known in Ohio as a military contractor, Timken makes parts for the Apache attack helicopter, the CH-47 helicopter and the F-16 fighter jet, among other aircraft.

The Pentagon gave more than 60 percent of the weapons systems contracts to Timken without competition, according to a separate analysis by the nonpartisan Center for Public Integrity.

edit: Much more - a very long article worth the time.

[farmbo]

1. After Timken's layoffs, its a safe bet the work will be outsourced.

http://www.newsnet5.com/news/3310895/detail.html

Such a deal: Fat, no-bid defense contracts, and no pesky domestic employees to hold down their corporate profits.

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2. And no corporate taxes

Did you catch this paragraph?

Timken, with $3.8 billion in sales, also has saved millions under Bush's tax cuts. A study by Citizens for Tax Justice and the Institution on Taxation and Economic Policy says Timken paid no federal income taxes last year and in 2001. It will get more breaks under the corporate tax bill awaiting Bush's signature.

[gulfcoastliberal]

3. Timkin is on gov't welfare! Union busting is what they are doing!!

Check this out:

"Timken is benefiting from tax breaks and from contracts at the same time they're moving jobs away from America," said Kathy Roeder, a spokeswoman for John Kerry's presidential campaign. "That concept is out of whack."

snip

"These guys preach self-reliance, but they're on the public dole," he said. "Timken plays by the rules that the Bush administration has given them."

snip

But Jason Furman, Kerry's economic policy adviser, said, "It's not free markets, it's government subsidies for his corporate friends."

W.R. Timken was overseas and not available for an interview, a company spokeswoman said.

-- Probably in China greasing the wheels for his new slave factory.

What scumbags, getting all that free taxpayer money and tax refunds and even more tax refunds coming up but their "employee costs at those plants are too high".

This is obvious union-busting. They are putting the pressure on union leaders to give up benefits and wages. The union should file a federal grievance, if that is even still possible.

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4. W.R. "Timmy" Timken is a top level fund raiser for Bush

and also on the board of directors at Diebold. He and his cronies are stealing our future. I help finance their transportation system and employee benefits, they get more tax breaks.

[Jose Diablo]

7. Any question about who's money is being used to build

the overseas plants that are displacing workers here.

Why it is our tax money. So much for the capitalists providing the capital.

[starroute]

5. Timkin has all sorts of Bush/Republican connections

"Chairman W.R. 'Tim' Timken Jr. has long been involved in Republican Party politics on both the state and national levels. He has been a major donor and fund-raiser, having been host to Bush at a private luncheon during the 2000 presidential campaign. Fewer than 100 people attended the exclusive event at Timken's Tudor mansion, deep in exclusive Hills and Dales village."

http://www.kentucky.com/mld/beaconjournal/5687358.htm


"WASHINGTON, D.C. - April 22, 2003 - William R. Timken, Jr., of Canton, Ohio, Thomas W. Grant, of New York City, New York, and Noe Hinojosa, Jr., of Dallas, Texas were confirmed by the U.S. Senate on April 8, 2003, to serve as the newest directors of the Securities Investor Protection Corporation (SIPC), which maintains a special reserve fund authorized by Congress to help investors at failed brokerage firms. On April 10, 2003, President George W. Bush signed the appointments, clearing the way for Timken to assume his responsibilities as the new chairman of the SIPC board of directors.

"William R. Timken, Jr., said: 'As the incoming chair of the Securities Investor Protection Corporation, I look forward to overseeing its important mission of instilling confidence and fairness in the U.S. capital marketplace. My intention as chairman will be to work with our board and the SIPC associates to continue to fulfill the objectives of the Securities Investor Protection Act of 1970.' "

http://www.sipc.org/media/release22apr03.cfm


Timken is on the Board of Overseers of the Hoover Institution, a right-wing think tank in which Richard Mellon Scaife has been deeply involved and which has numerous ties to the Bush administration.

http://www-hoover.stanford.edu/main/boardovr.html


Timken is also on the board of directors of Diebold.

http://cronus.com/electionfraud/

[UpInArms]

6. the corporate whores should be stripped of all of their possessions

anbe be put in the streets to live out their miserable lives.

11:19am 10/22/04 BUSH SIGNS CORPORATE TAX BILL

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8. Yep, no taxes for Timken next year

I wish we could get some lovely drag queens to go to a rally and parade as corporate welfare queens.

[saracat]

9. Oh yes there will be, when Kerry rolls back their freebies!