NORTH LA DEMOCRATS SELLING OUT CONSTITUENCY

May 29, 2007

In a move that can certainly be seen as a “political set-up”, Louisiana Democrats are poised to spend a huge surplus of ONE-TIME MONEY, nearly $4BILLION, on recurring expenses such as salary increases and new programs, WITHOUT FUTURE FUNDING. This will force the next Governor to either cut funding or raise taxes, neither being popular.
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Failing to spend this money on infrastructure (roads, bridges, etc) will make matters worse for Louisiana and particularly worse for NELA, because it will  serve to further delay a $14BILLION BACKLOG of badly needed and expanding road projects.

 Louisiana Democrats, knowing full well that their proposed budget is ruinous to the next Governor, no matter who it is, are showing that they fully expect to lose the Governor’s Mansion to Bobby Jindal and are willing to do whatever they can to hurt his tenure in office, NO MATTER HOW HARMFUL IT IS TO THE STATE.

While attending the American Legion Memorial Day Celebration in Monroe, LA, State Representative Kay Katz said “the Democrats are spending that money as fast they can get their hands on it and spending it all around New Orleans.” Making matters worse, Representative Katz said, “there’s nothing we (Republicans) can do. We’re out voted.” Representative Mike Walsworth said, “if we hadn’t stopped them from breaking the spending cap, the Democrats would have spent the rest of the money.” Mike went on to say that one of those plundering Democrats actually accused him of wanting to hold that money for Bobby Jindal to spend. Yeah, doing the right thing must have sounded strange to the Democrat pirate.

No, there is little we can do in NELA when the Democrats hold the majority and their traitorous accomplices, sworn to represent their NELA constituency, sellout their neighbors and hometowns to continue a power structure that has kept Northeast Louisiana LAST IN THE COUNTRY.

If not for the leadership of Republicans Mike Walsworth and Kay Katz, the Democrats would have busted the spending cap and spent the remainder of the money in New Orleans, too.

Bobby Jindal has repeatedly pointed out that spending this ONE-TIME MONEY on recurring expenses is wrong and will hurt the State.

The Democrats don’t care.
 

NORDSTROM A SHOE-IN TO EXPAND ITS ONLINE SALES.(Business)

Seattle Post-Intelligencer August 25, 1999 | Virgin, Bill; Cook, John Nordstrom Inc. said yesterday it will spin its catalog and online retailing into a separate subsidiary and bring in venture capital partners to help expand its e-commerce business.

It also plans to launch a second online retailing site specializing in the apparel item on which it built its national reputation – shoes.

Nordstrom.com’s first new online site will be www.nordstromshoes.com, which the company said will eventually offer 20 million pairs of shoes, compared with 200,000 pairs on its current Internet site and 150,000 pairs in its larger stores. The site should be running this fall.

Nordstrom.com also plans to launch separate Web sites to sell apparel, accessories, jewelry and gifts.

To finance this expansion, Nordstrom has enlisted two venture capital partners. Nordstrom has committed $10 million to the new venture and will remain the primary stakeholder in the e-commerce store. Benchmark Capital and Madrona Investment Group will invest $16 million for a minority stake, bringing total investment to $26 million. web site nordstrom coupon code

With investments in eBay, Red Hat Software and Webvan, Menlo Park, Calif.-based Benchmark Capital is one of the top performing venture capital firms in the country. It is making one of its biggest investments in Nordstrom.com, providing $15 million of the $16 million. Seattle-based Madrona, an early investor in Amazon.com, will invest $1 million.

Yesterday’s announcement came after the close of trading on the New York Stock Exchange, where the company’s stock fell 13 cents to $31.63.

The venture capital investment in Nordstrom.com is the latest sign that bricks-and-mortar retailers are looking for help in the new economy. Toys R Us recently brought in Benchmark Capital to assist with its e-commerce initiatives. However, that deal fell apart last week. Other companies such as bookseller Barnes & Noble have spun out their Web properties in hopes of keeping up with competitors. Nordstrom.com also could sell stock as a way of raising capital to finance expansion, said Dan Nordstrom, chief executive officer of the online venture and co-president of Nordstrom Inc.

Nordstrom’s moves also reflect a realization that while there’s still time to stake out territory on the e-commerce frontier, there’s not a great deal of time before a lot of settlers show up, and the traditional methods of prospecting won’t work.

Nordstrom said the separate subsidiary was set up specifically to operate on Internet time and develop “a culture of speed and aggressive competitive zeal.” He said Benchmark was recruited for its insights not only on electronic commerce but on developing a corporate culture “just as dynamic and hard-driven as a Silicon Valley start-up.” “Everyone in Seattle knows that in any given category of retailing on the Internet, there’s a very short period of time for someone to come out with the right offer at the right time and lock up the market,” Nordstrom said.

Nordstrom figures its opportunity to lock up a market is in shoes. “A first-mover really hasn’t appeared in the footwear category,” he said.

Selling shoes by the Internet would seem to be tougher than objects like books, given the highly inconsistent nature of shoe sizing. But Nordstrom believes its experience in selling shoes and the reputation it has built with customers, including its return policies, will give it advantages not available to a start-up retailer.

The big question facing any Internet retailer is: Can you make any money at it? Nordstrom said he believes his company can, although that’s not the primary aim now. Building Web sites and drawing customers to them is. site nordstrom coupon code

“Today is the lowest-cost moment to acquire customers,” he said. “Costs will rise and barriers will go up. It’s important to get out and aggressively invest now.” Nordstrom made its first major investment in an Internet company last October. The retailer took a 47 percent stake in Streamline, a Boston Internet grocery store. Unlike Bellevue-based HomeGrocer.com, Streamline builds password protected shelving and refrigeration storage units into its customers’ garages so deliveries can be made while individuals are not at home. In the future, that could provide an easy mechanism for Nordstrom to deliver its products to customers. At this time the service is available only in the Boston area.

Nordstrom, which operates 100 stores, said Internet (www.nordstrom.com) and catalog sales currently represent 10 percent of total sales. “We believe the ratio will change for the next 10 years,” he said, with Internet sales becoming more significant than catalog retailing.

P-I reporter Bill Virgin can be reached at 206-448-8319 or billvirgin@seattle-pi.com Virgin, Bill; Cook, John


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