Posted October 27, 2012 | comments 2 Comments

Letter to the Editor: Vulture capitalism hits Winchester area hard


The Winchester area has been especially hard hit by the vulture capitalism of Mitt Romney-type hedge funds and Paul Ryan-type Ayn Rand economics. Witness the closing of Federal-Mogul, General Electric, and American Woodmark plants in the area. Even the automotive parts plant in Strasburg is threatened.

The Wall Street brokerage banks care little about the impact of their decisions on ordinary American workers, their families and communities. They are concerned only with higher profits, and fighting off government regulation for the public interest. They make millions in campaign contributions to any politician regardless of party or principle so long as they are given a free hand to plunder the nation's resources, environment, climate and workers. Their patriotism is nil and non-existent. If they can get cheap labor through lower wages, they do not care how many Americans are put out of work or to which country they move their jobs to. Their plan is to privatize profits and socialize costs. They pocket the profits for themselves and push the cost of unemployment on the government. They pay little or no taxes by setting up off-shore sham corporate offices and laundering their money through tax- haven countries with weak government structures.

If you or your family or your friends have been affected by closing of Federal-Mogul, General Electric or American Woodmark plants here in the Winchester area, it is in your interest to vote for President Obama, Tim Kaine, and Kristin Cabral. If you would be adversely affected by the closing of the automotive parts plant in Strasburg, you should vote for Obama, Kaine and Cabral.

Obama saved the American automobile industry. Romney said, "Let Detroit go bankrupt." Obama has saved manufacturing jobs in America. Romney made his fortune "harvesting companies" by taking them into bankruptcy, liquidating the companies, putting workers out of work and causing them to lose their pensions.

Warren D. Golightly, Winchester

2 Comments | Leave a comment

    Don't know where you are getting your info from, but I don't think Romney had anything to do with GE losing, they just weren't equipped to make the new light bulbs, so they took the work to another plant. As far as IAC is concerned, they are doing very well now, working alot of overtime and just got a new door panel job from Ford, so I don't beleive they are in danger of closing at this time.

    Actually, Mr. Golightly, Mollie is absolutely correct re GE. The incident that is responsible for the GE closing is a bill passed by the 110th Congress on December 18, 2007 and President GWBush, signed it into law on December 19, 2007 in response to his "Twenty in Ten*" challenge...

    *In December 2007, President Bush signed the Energy Independence and Security Act (EISA) of 2007, which responded to his "Twenty in Ten" challenge in the State of the Union Address...

    General Electric has closed its last major factory making incandescent light bulbs in the United States, a victim of a 2007 law banning sale of the light bulbs by 2014. GE could retrofit its Winchester plant to produce CFLs, but GE CFLs would be 50 percent more expensive than bulbs made in China with the benefit of cheap labor. Realizing it could not compete with such a cost disadvantage, GE is closing down its Winchester factory.
    (wiki and others)

    VAdvantages of CFLs

    High Efficiency. CFLs use 20% to 33% less electricity than incandescent bulbs.

    Long Life. With no filament to burn out, florescent lights tend to last 8 to 15 times longer than incandescent bulbs. Their up-front price is higher, but by using less electricity and helping you avoid changing bulbs, you’ll end up spending less over the life of the bulb with a CFL.

    Safety. CFLs are even safer than incandescent bulbs, since lower temperature means a decreased risk of home fire.


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