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Barack Obama Re-Elected President

President Obama defeated Republican Mitt Romney in the 2012 presidential election.

President Barack Obama and Vice-President Joe Biden were re-elected Tuesday night, defeating Republican challenger Mitt Romney and his vice-presidential running mate Rep. Paul Ryan.

NBC News called the presidential election for Obama around 11:15 EST. The president sent a message on Twitter at 10:14 saying simply, "This happened because of you. Thank you."

The Obama campaign won the most expensive presidential race ever, with both parties raising about $2.6 billion. The race was filled with negative campaigning on both sides, from President Obama attacking Romney’s business experience with Bain Capital to Romney lambasting Obama’s handling of the economy.

The race tightened during the final months of the campaign, with gaffes and surges from both candidates. After a weak performance after the Republican Convention, Romney surged following Obama’s listless performance after the first presidential debate. Nevertheless, the president cemented a lead in battleground states heading into Tuesday’s election.

In his concession speech from Boston, Romney wished Obama well.

"This is a time of great challenges for America, and I pray that the president will be successful in guiding our nation," he said.

MZ December 12, 2012 at 10:21 PM
Sorry to hear about your situation John. I do have a question for you. What is your solution? What would you do to solve the problem?
MZ December 12, 2012 at 10:25 PM
What would you do if you we're CEO of John Deere? Pay three times the wages for the same skill set, or move the company to a place that has a better climate, the same pool of skilled labor, and is more business friendly? What would you do if you we're Boeing? Why are the workers in Oregon more important than those in SC? Shouldn't Boeing do what they need to do to stay globally competitive?
Murphy-Solon December 12, 2012 at 10:32 PM
Excuse me MZ, but I must say that is a bunch of bunk. Corporations are keeping the largest share of revenue since 1943 while employees are receiving the smallest share of corporate revenue since 1929. This disparity in wealth distribution lead to the Great Depression. To suggest that people that are not happy with the current situation are demanding guaranteed outcomes is just bunk, clear and simple.
MZ December 12, 2012 at 10:52 PM
What is the solution? If granted Czar powers over the economy, what fixes would you put in place? What are people demanding? What does OWS want? What does Obama mean by spreading the wealth around? The single point I remember from the Obama campaign ( besides free birth control) was raising taxes on the rich. When a reporter pointed out to Obama that his policy would fund the government for around 8 days (or something like that), he said it was about fairness. Help me understand, I'm clearly a little slow.
MZ December 12, 2012 at 11:10 PM
What is a fare wage? You would pay everyone the same hourly rate regardless of skill, experience, talent, innovative ideas, etc... Let me guess, you don't run a business do you?
MZ December 12, 2012 at 11:14 PM
Profit sharing can be a great way to secure the best talent. Other ways are stock options, bonuses, etc... It depends on the company and the type of talent they need. If you operate a car wash, profit sharing for those washing the cars might not make sense. If your company relies on the very best to make a profit, and could not make a profit with out the best people, you would be more likely to share the profits, give stock options, big bonuses, or other benefits. It is all about bringing value and providing a skill, connections, or innovation that the company needs. If you can do that, you can name your price. If you can be easily replaced, you don't have much bargaining power.
Murphy-Solon December 12, 2012 at 11:16 PM
The basic truth as I see it is that the middle class has always been the economic engine in this country. If you accept the premise of a diminished middle class then you must also accept the long term proposition of a stagnant economy. This reality didn't just arrive on America's shores, it was masked by the Internet and real estate bubbles but it now lies bare for all to see. And if the net effect of stagnant wages aren't bad enough, consider this; we have benefited from the economic activity of retiree's in the past but now that companies have shed their pension obligations and the average Baby Boomers 401k is woefully underfunded, the accumulative affect of stagnant wages and a needy retiree class can prove to be economically devastating. I'm not suggesting that you're slow MZ Hammer, you got game.
lyn December 13, 2012 at 12:11 AM
Lori- Based on what you say, then a worker with one year experience should make the same as someone with 30 years experience if both give 100%? I would think variables like work force talent, experience and also the cost of living for different areas would need to be considered. Also, local unions in different states work out their own contracts. To say everyone should make the same across the country is too general a statement that can't be applied fairly, even for the worker.
Murphy-Solon December 13, 2012 at 01:32 AM
Ladies, turn on AMC for the Sandy Relief Concert. Bruce, Pink Floyd, Stones and many others.
MZ December 13, 2012 at 02:17 AM
I don't wish for a small middle class. I want everyone to do as well as their God given talents will carry them. Be bold, take calculated risks, and make the most of the short time we have. This still can be the land of opportunity, but there is fierce competition globally. We can no longer take advantage of 1/3 of the planet being decimated after WWII and having no choice to but buy from us. The third world is becoming more and more competitive as the days pass. We can long for the good old times all we want, but they are gone. We can strive to be better, or we can slink into becoming the "new" old world and head the way of Europe. Again, if the solutions to our problems don't lie within each of us. If it is not up to each individual to do the best for them and their family, then what is the solution?
Murphy-Solon December 13, 2012 at 02:19 AM
Germany would beg to differ with you.
MZ December 13, 2012 at 02:30 AM
Oregon and SC don't have e same cost of living. All workers are not equal, there are high performers and under performers. If you take away people's incentive to do better and be rewarded, the overall performance suffers. This is an observable fact. It can be seen in school, sports, and business. Yes i do indeed know of profit sharing and don't believe it is socialist at all assuming a firm does it on their own. Profit sharing can be a great way to attract and retain the best talent available. Stock options, performance bonuses and other perks such as 9-80 can also assist it getting and keeping the best talent. If specialized skills are needed, or if those skills are in high demand, profit sharing can make all the difference in the world to a firm's success. If the firm is forced into profit sharing, then yes it would be socialist. Further, if a law was passed that all corporations must profit share what do you think would happen? How would McDonalds address this? What would happen to the cost of the goods and services a firm offers? We all need to realize that the key to success in this global economy is developing specialized skills, making oneself valuable to an employer and separating oneself from the rest of the pack. It is no different then when you choose a product or service. You buy based on quality, cost, or uniqueness of the offering. If you want high performance, you pay more. If you are ok with a throw away, you can pay less.
MZ December 13, 2012 at 02:32 AM
What do you ink would happen if every corporation in the US was forced to give a 10% raise to each and every employee?
MZ December 13, 2012 at 02:33 AM
About?
Murphy-Solon December 13, 2012 at 02:34 AM
No one is talking about forcing corporations to do anything. Henry Ford was smart enough to pay his employees generously because he knew they would then be able to buy his cars. That there is long term planning.
Murphy-Solon December 13, 2012 at 02:38 AM
Germany is very similar to us with unions and high pay yet they've fared much better than us in the global economy. The government and the corporations didn't cut and run at the sight of cheap foreign labor. Now they prop up the entire Euro zone with their economic resilience.
John McMillan December 13, 2012 at 03:31 AM
Geez...as usual, MZ, your mean-spirited sarcasm is neither appreciated nor appropriate. I have never believed in guaranteed equal outcomes for all, just equal opportunity to achieve the best possible outcome for each person, using his own unique abilities and talents, within an environment that encourages individual growth. You want my solution to the problem? Well, my vote in the last election was the first step.
John McMillan December 13, 2012 at 03:35 AM
Wow...I can't wait till you start that blog! Your words consistently astonish me. Well said, once again! You get it!!
Phyllis Stager December 13, 2012 at 12:06 PM
Wow......I sure missed a lot of good stuff yesterday after I left my computer. At any rate...I do not suggest that a corporation/business has no responsibility to contribute taxes community. The corps/businesses which come to our state get tax breaks, but they still pay taxes. The State sees the positive economic fall out for the communities when a company offers jobs, upswing in commerce and yes, taxes. Its not just oil that made Texas the 15th largest economy in the world...its a way of thinking.
Phyllis Stager December 13, 2012 at 12:14 PM
Murphy...are you gonnna start that blog? All of us are waiting! Our group John, Lori, Lyn, and MZ...I love them. You need to get it going! Its so good to see how others who differ from one's own thinking...think. Its a whole lot better than slinging invectives!
Murphy-Solon December 13, 2012 at 01:06 PM
Yes Phyllis, I'm going to blog an opinion. I got tied up reading Doris Kearns Goodwin's book 'Team of Rivals'. This is the book about Lincoln that Speilberg based his movie on. I wanted to read it before I go to see the movie (always thinking about stimulating the economy). It's a long book but an excellent book. I know I've got to get cracking on the blog.
MZ December 13, 2012 at 01:12 PM
John, you are misreading me, there was no sarcasm intended at all. As for the mean spirited comment, go re-read your previous comment where you told anybody that disagreed with you to get over it and stop whining. You then proceed to call another poster and anybody who agrees with him "scary and sad." I haven't resorted to name calling and don't intend to. You then say that you are tired of being "called names." Again, at what point did I call you names? Relax. You are right, I don't know you, you don't know me. If we don't know each other, and I have no impact on your life, why would anything I write on this site matter to you in the least? You also said that "No American who labors for 40 hours a week or more should be in or near poverty level." I would counter and say that it certainly depends on what they are doing with those 40 hours. Not all work is equal my friend. As far as your vote in the last election, what do you think Obama will accomplish that will make things better? Please enlighten me.
Phyllis Stager December 13, 2012 at 01:13 PM
I like that approach...read the book first. I try to do that too! We will just have to wait, I guess!
MZ December 13, 2012 at 01:28 PM
Murph, the tides are changing in Germany as well. From the NY Times http://www.nytimes.com/2005/10/26/business/worldbusiness/26labor.html?pagewanted=all&_r=0 My take is that much of what is made in Germany are higher end niche products that require the consumer to pay a premium. Those willing to pay that premium still exist, but the competition is growing. Much like how the Japanese originally entered the auto market with low end "throw away" vehicles and eventually entered the high end and captured market share, so are the Koreans. There is no way to avoid the competitiveness of the Global Market place. Germany is already feeling the impact and will more so in the future. You can get away with paying the highest hourly rate in the world so long as the world considers you products to be the best, or a status symbol, and there are enough people willing to pay for them. If your perceived quality goes down, or your competitors quality increases you have issues. If your brand goes out of favor for any reason you have issues. If the quantity of people willing to pay the premium for your brand decreases you have issues. If any combination of these things occurs in parallel, you have big problems.
MZ December 13, 2012 at 01:28 PM
Murph, the tides are changing in Germany as well. From the NY Times http://www.nytimes.com/2005/10/26/business/worldbusiness/26labor.html?pagewanted=all&_r=0 My take is that much of what is made in Germany are higher end niche products that require the consumer to pay a premium. Those willing to pay that premium still exist, but the competition is growing. Much like how the Japanese originally entered the auto market with low end "throw away" vehicles and eventually entered the high end and captured market share, so are the Koreans. There is no way to avoid the competitiveness of the Global Market place. Germany is already feeling the impact and will more so in the future. You can get away with paying the highest hourly rate in the world so long as the world considers you products to be the best, or a status symbol, and there are enough people willing to pay for them. If your perceived quality goes down, or your competitors quality increases you have issues. If your brand goes out of favor for any reason you have issues. If the quantity of people willing to pay the premium for your brand decreases you have issues. If any combination of these things occurs in parallel, you have big problems.
MZ December 13, 2012 at 01:29 PM
<cointinued> As the perceived gap between BMW/Audi/Mercedes and the competition tightens (as it is right now), or the gap between Seimens and GE, or Fanuc, or Asian copies tightens, German companies will continue to battle their labor unions, will increasingly look to outsource, and will need to in order to survive. There is no escaping this reality while maintaining current levels of production. They could choose to become even more niche, raise prices, and compete more and more at the very high end, but the market for that won’t support the current employment levels. If they did that, they could pay the reduced number of employees even more than they do currently and survive as a much smaller firm (think Rolex/Ferrari/etc…).
Phyllis Stager December 13, 2012 at 02:55 PM
Murph, California has the highest sales tax rate in the US, the 8th highest corporate income tax, tied w/ NY for the highest gasoline tax rate in the US, and is the only state which taxes carbon emissions. California accounts for 12% of the US population but 33% of Americans that receive assistance for needy families. Their Teachers are paid the highest in the nation but California students rank 48th in Math and 49th in reading. In 2011 58,000 people moved from California to Texas. California has missed the boat. Their high taxes and well paid teachers did nothing to improve the educational level for their state. Talk about degrading circumstances, obviously government 'taxing' does not avert degradation.
Murphy-Solon December 13, 2012 at 03:56 PM
I'm not a defender of California, Phyllis. They have a referendum system that seems to be out of control. I've always found California to be a mystery. Their Real Estate prices have always been so much more expensive than the rest of the nation (excluding N.Y). I haven't read enough about California to give an honest assessment. Thank you MZ for that excellent article on the German labor market. I don't doubt that the whole of industrialized nations are scrambling to adjust to the reality of a cheaper global labor market. I have an excellent article on the behavior of German companies operating in the U.S. that I wish to share but I'm still struggling to figure out how to post a link to the patch using my iPad. I'm following a couple of iPad discussion groups to resolve this issue.
Murphy-Solon December 13, 2012 at 04:32 PM
http://www.huffingtonpost.com/2012/08/06/most-profitable-corporations-tax-rate_n_1746817.html?utm_hp_ref=email_share This is a test, this is only a test. This is a great article about corporate tax rates Phyllis. I hope this link works.
Murphy-Solon December 13, 2012 at 04:39 PM
MZ, your article on Germany was very instructive, Thank you. I believe this link below also makes a point. P.S. Now that I've figured out how to post a link, you're all in trouble now. LOL http://www.germany.info/Vertretung/usa/en/__pr/P__Wash/2012/01/31-vocational-pr.html

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