Wednesday, May 03, 2006
y i gotta pay
To start off with, I just want to say that if you want to make some loot, a person needs to get an office on K street in DC and start to lobbying. Not lobbying for anyone but rather for big business like defense contractors. This past Tuesday, the U.S. Senate voted to support a plan proffered by members of the Senate from Mississippi to give Northrop Grumman $200 - 500 million for hurricane-related losses that its insurers are unwilling to pay. Gruman owns the Ingalls Shipyard in Pascagoula, which was severly damaged during last years hurricane season. This support will be provided over and before support supposedly for hurricane relief funding.
In essence, US taxpayers wil have to foot the bill for losses that should be borne by insurers of the huge defense contractor the way i see it and stand by the little man and woman.
Thanks to Folks the Likes of Trent Lott and Bob Helm, a former Senate Budget Committee staff member and Pentagon appointee, it seems that the interest of Northrop is more important than the thousands of people still waiting to rebuild their homes and lives in the devistated region of the gulf. So what if the NG shipyard had huge costs not covered by insurance due to Hurricane Katrina, that is no reason to place a huge defense contractor ahead of the other Hurricane victims. The Seneate is not vgoting to help them with the problems they are having with thier insurance companies so why do they care so much about NG?
Northrop Grumman is a defense contractor that specializes in building ships for the Navy, managed will get this loot to cover what congress defines as “disruption costs” due to Hurricane Katrina. The concern is that Northrop Grumman's insurance company will cover these very costs.
I wish congress would bail me out of my losses at the ticket of $500 million in so-called ‘emergency’ bailout loot on my pockets behalf. Add that to the fact`that Northrop Grumman has had a 25% increase in its stock price since Katrina, what the congess is saying is that governement is supposed to cover a company's business costs for contracting delays and still have to pay for the products that they have ordered from them - stupid.
This is just another mindless reflection of fiscal foolishness that appears to say that defense shipbuilders are more important than the true Hurricane Katrina sufferers.