Monthly Archives: August 2015

Foreclosure letter scam appears in Brick, NJ

The scam letter a Brick homeowner got in the mail recently is enough to send an electric jolt into any homeowner.

 

The Ocean County Prosecutor’s office and Provident Bank are warning New Jersey residents that the letter is a scam.Read more from Asbury Park Press. Click here.

Why I “love” Wells Fargo

by Bo McDonald, YOUR MARKETING CO

Sorry for the misleading title. I don’t love Wells Fargo. Actually, a mortgage that I did through my credit union several years ago was sold off to Wells Fargo and “love” is not even close to the term that I would use to describe my feeling towards them. However I must be in the minority because Wells Fargo Chief Marketing Officer Jamie Moldafsky says “We do know that our customers tend to really love us…”

Is it their great rates or great service? I’m willing to make a bet it’s not. So what is he talking about? “Part of what makes us successful is that we are very omnichannel, and we consciously think about the fact that our customers are going to engage with us across these channels” Moldafsky says. Is your credit union barking up the wrong marketing tree with it’s message? Are you still using outdated language and delivery channels to make a dent in the goal of “reaching out to younger members?”

Read on.

Hillary Clinton Backs Bill That Would Ban ‘Golden Parachutes’ For Wall Street Bankers

Two former Clinton aides at the State Department had received bonuses when they left their bank jobs.

WASHINGTON — Democratic presidential candidate Hillary Clinton announced her support Monday for legislation that would ban “golden parachutes” for private sector employees, like Wall Street bankers, who take jobs with the federal government.

The Financial Services Conflict of Interest Act, which is sponsored in the Senate by Tammy Baldwin (D-Wis.) and in the House by Elijah Cummings (D-Md.), would ban golden parachutes and crack down on other conflicts of interest in government. Progressive groups, who believe that the revolving door between the private sector and the government fosters corruption, had written a letter to Clinton last week asking her to clarify whether she supported the legislation. Sen. Elizabeth Warren (D-Mass.) has called it “a bill any presidential candidate should be able to cheer for.”

Clinton voiced her support for the bill in an op-ed for The Huffington Post co-written with Baldwin. Their blog post argues that government workers with private sector experience are usually an “asset, and not a liability,” but “in some cases it can affect the public trust — for example, if a public servant’s past and future are tied to the financial industry. That’s when people start worrying that the foxes are guarding the hen house.”

Read on.

Interesting but can Ms. Clinton explain to the voters why 90 percent of the top 20 contributors to her are corporations or provide services to corporations?:

2015 0731so 1

By the way, 95 percent of the top 20 contributors to Bernie Sanders are unions. You can read more from Truthout. Click here.

Wal-Mart Cuts Some Workers’ Hours After Pay Raise Boosts Costs

Bloomberg:

Wal-Mart Stores Inc., in the midst of spending $1 billion to raise employees’ wages and give them extra training, has been cutting the number of hours some of them work in a bid to keep costs in check.

Regional executives told store managers at the retailer’s annual holiday planning meeting this month to rein in expenses by cutting worker hours they’ve added beyond those allocated to them based on sales projections.

The request has resulted in some stores trimming hours from their schedules, asking employees to leave shifts early or telling them to take longer lunches, according to more than three dozen employees from around the U.S. The reductions started in the past several weeks, even as many stores enter the busy back-to-school shopping period.

Chief Executive Officer Doug McMillon is trying to balance a desire to improve service — partly through increased spending on his workforce — against investors’ pressure to keep profit growing. Labor costs, which rose after Wal-Mart increased its minimum wage to $9 an hour in April, have weighed on earnings, which missed analysts’ expectations last quarter. At the same time, Wal-Mart is trying to maintain low prices to fend off rivals.

Bernie Sanders: “The business model of Wall Street is fraud.”

Sen. Bernie Sanders’ full State of the Union interview with Jake Tapper.

Bank of America, Loan Officers Settle Payroll Stub Dispute

Courthouse News:

SAN FRANCISCO (CN) – A federal judge approved the settlement of a class action that claimed Bank of America didn’t give its loan officers accurate wage statements.
A group of loan officers sued Bank of America in 2010, claiming the bank gave them inaccurate wage statements in violation of California law.
While U.S. District Judge Jon Tigar gave preliminary approval to the settlement in late 2014, at a fairness hearing earlier this year he critiqued the parties’ proposed plan for providing notice to the class. The parties have since cleared that hurdle, Tigar said.
“The parties have shown that the class administrator has fulfilled the notice plan by correctly preparing the class list, mailing notice to class members via first class mail, and performing address traces to re-mail the notice to class members whose mail was returned undeliverable,” he wrote in a 21-page order.
He added: “Plaintiffs acknowledge that, if the settlement is not approved, they will encounter significant obstacles in establishing their claims, given the uncertainties surrounding class certification and their ability to prove defendant’s intent to violate the California Labor Code, which is required to obtain large penalties under the code.”

Here is the court document. Click here.

How General Electric breaks the Law in India

Wow, I didn’t know that. My posting about Cuomo’s GE deal was retweeted by Semma Sapra. Here is Semma’s profile:

Seema Sapra

@SeemaSapraLaw

Lawyer-petitioner-witness in whistle-blower corruption petition against General Electric Company & Railways in Delhi High Court.

What I didn’t know is that how GE is breaking the law in India! Thanks Semma for sharing:

FCPA alert- General Electric paid bribes to Indian public officials using third party contractor – Aartech Consultants India Private Limited

Saturday, August 15, 2015

General Electric Company has since the last 10 years been trying to secure a multi-billion USD contract from the Indian Rail Ministry to sell diesel locomotives.

In June and July 2010, Seema Sapra an attorney in India working then as in-house legal counsel for General Electric in India and advising the GE Transportation team in its efforts to bid for Indian Rail contracts including the tenders for the proposed diesel locomotive factory at Marhowra and the proposed electric locomotive factory at Madhepura was asked to review and approve the renewal of a third party contractor/ consultant contract between General Electric and an Indian privately held company called Aartech Consultants Private Limited.

As the in-house attorney for General Electric, Seema Sapra came across certain red flags concerning this entity Aartech Consultants and its contract with General Electric. She therefore recorded her view in writing that these red flags needed to be addressed and reviewed before entering into a renewal of the contract between General Electric and Aartech Consultants and she at that time refused to approve the renewal of this contract.
The lawyer, Seema Sapra was viciously targeted during her time in General Electric as she became an obstacle to corruption by General Electric executives and a threat to them. Baffled by why she was being targeted, she resigned from her position but then decided to stay back in order to raise compliance concerns formally to General Electric Company. In an attempt to silence her and cover up her concerns, her contract was suddenly terminated without cause during the initial stages of her making written complaints to the GE Ombudsman and General Counsel and during an ongoing and incomplete compliance investigation.

FCPA obstruction of justice by & cover-up alert – Fraud on General Electric Company, Delhi High Court & Government of India by GE lawyers

Complaint made to US SEC against General Electric Company on15 August 2015 – TCR – Reference Number: TCR1439646785831

In-house counsel and lawyers for General Electric Company substituted a fake representative/ signatory in a corruption legal case in India as part of an obstruction of justice conspiracy and in the process violated General Electric Company’s own Board Resolution on who can represent the Company in Court. The Question is will the United States’ SEC, the Department of Justice, and the FBI allow General Electric Company lawyers to violate the Company’s own board resolution with impunity in India?

Former General Electric in-house counsel Seema Sapra filed a legal proceeding in the Delhi High Court (Writ Petition Civil No. 1280 of 2012) against General Electric Company and two Indian subsidiaries (GE India Industrial Private Limited and GE Global Sourcing India Private Limited).

The Delhi High Court issued notice in this matter to General Electric Company, GE India Industrial Private Limited and GE Global Sourcing India Private Limited on 7 March 2012. A copy of the Delhi High Court order dated 7 March 2012 can be viewed on the Delhi High Court website at http://delhihighcourt.nic.in/dhcqrydisp_o.asp?pn=49717&yr=2012

Read on.

And from Seema’s latest tweet on August 31 and on her blog, she stated that she being poisoned because of blowing the whistle on GE. Click here to read.