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Bbc, Olusosun And Nigerian Middle Class Hypocrisy - Politics (9) - Nairaland

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Re: Bbc, Olusosun And Nigerian Middle Class Hypocrisy by paddylo1(m): 10:36pm On Apr 19, 2010
paddylo you are still clinging on to this falsehood that capitalism elevates the living standards of the poor - why dont you hear from the horse's mouth what capitalism did to working people in indonesia - here is a documentary created by indonesian workers narrating their experiences at the hands of capitalism perhaps you could learn something :

http://freedocumentaries.org/teatro2.php?filmID=95&lan=en

^^
Yawn, Most Indonesians are happy with their countrys place in world history. .
They are a member of the G-20, and have international respect,

There is solid manufacturing, with continueing GDP growth
Unemployment rate is only 7.8%, see link, http://www.tradingeconomics.com/Economics/Unemployment-Rate.aspx?Symbol=IDR

again i will take these figures for Nigeria anyday. .
Imagine Nigeria as a member of the G-20, and unemployment rate @8%.

I dont believe in slogans or ideology, i believe in doing what will bring results
PPl like u claim to love the poor,
but u dont realize the socialist policies u seek will keep them poor for life
Re: Bbc, Olusosun And Nigerian Middle Class Hypocrisy by paddylo1(m): 10:40pm On Apr 19, 2010
Also note that indonesia has over 220million ppl,

They have terrain worse than we have in the Niger Delta. . .

It consists of over 13,000 islands,
Its a tough country to begin with

just like Nigeria is tough, but they have gotten it right. . .
Re: Bbc, Olusosun And Nigerian Middle Class Hypocrisy by Gamine(f): 10:44pm On Apr 19, 2010
I don't see how anyone can put faith in Nigeria's facts and figures.
But i am certain, 'Capitalism' is the way forward. Socialism can never work out.
Re: Bbc, Olusosun And Nigerian Middle Class Hypocrisy by cap28: 10:51pm On Apr 19, 2010
paddy_lo:

^^
Yawn, Most Indonesians are happy with their countrys place in world history. .
They are a member of the G-20, and have international respect,

There is solid manufacturing, with continueing GDP growth
Unemployment rate is only 7.8%, see link, http://www.tradingeconomics.com/Economics/Unemployment-Rate.aspx?Symbol=IDR

again i will take these figures for Nigeria anyday. .
Imagine Nigeria as a member of the G-20, and unemployment rate @8%.

I dont believe in slogans or ideology, i believe in doing what will bring results
PPl like u claim to love the poor,
but u dont realize the socialist policies u seek will keep them poor for life


what place in world history? - where are you getting your figures from?  70 million people in that country STILL live below the poverty line, many are condemned to a life of  indentured slavery how does that translate as an improvement on what they had before, oh i get it, before,  they owned their own farms and lived off the land but now the land has been appropriated by multinationals, they are forced to move to overcrowded slums like ajegunle where they then eke out a living on 72pence a day working in sweat shops for multinationals - can you please explain to me how this is an improvement - its baffles me how you can continue to regurgitate this bilge when even leading american academics see it for what it is:

http://www.informationclearinghouse.info/article11635.htm
Re: Bbc, Olusosun And Nigerian Middle Class Hypocrisy by paddylo1(m): 10:53pm On Apr 19, 2010
[size=16pt]This is Jarkarta Indonesia[/size]
[img]http://zencigar.files./2008/08/indonesia_map_500.jpg[/img]








SEE MORE IN LINK BELOW, IT ACTUALLY REMINDS ME OF LAGOS, AND THE WAY LAGOS IS GOING IT WILL GET THERE IN 5YRS OR LESS

http://www.skyscrapercity.com/showthread.php?t=917134
Re: Bbc, Olusosun And Nigerian Middle Class Hypocrisy by paddylo1(m): 11:00pm On Apr 19, 2010
what place in world history? - where are you getting your figures from? 70 million people in that country STILL live below the poverty line

Pulled another statistic from your a.s.s?

Here are 3 different articles on indonesian poverty. . .
It clearly puts it at around 13%, which is about 32million ppl out of a 226million total,

Also u should know that most G-20 member countries,are doing ok in terms of poverty reduction
That is probably why Nigeria is not a member yet


1.http://sigitarinto.com/2009/03/03/indonesia-poverty-rate-in-2009-estimated-to-drop-by-19-to-135/

2. http://povertynewsblog..com/2009/07/indonesias-poverty-rate-falls.html

3.http://www.economist.com/world/asia/displaystory.cfm?story_id=7925064
Re: Bbc, Olusosun And Nigerian Middle Class Hypocrisy by cap28: 11:11pm On Apr 19, 2010
paddy_lo:

Pulled another statistic from your a.s.s?

Here are 3 different articles on indonesian poverty. . .
It clearly puts it at around 13%, which is about 32million ppl out of a 226million total,

Also u should know that most G-20 member countries,are doing ok in terms of poverty reduction
That is probably why Nigeria is not a member yet


1.http://sigitarinto.com/2009/03/03/indonesia-poverty-rate-in-2009-estimated-to-drop-by-19-to-135/

2. http://povertynewsblog..com/2009/07/indonesias-poverty-rate-falls.html

3.http://www.economist.com/world/asia/displaystory.cfm?story_id=7925064

that figure is a heavily massaged figure - try reading the article in the economist - actually here is an excerpt from that article:

WHEN two scavengers died last week under a landslide at Jakarta's main rubbish dump, the extensive television coverage that resulted provided a too-rare glimpse into the plight of some of Indonesia's poorest people. And their ranks are swelling. After declining for six years the number of poor people has increased sharply. Some 39m, 18% of the population of 220m, are now officially poor, according to data just released by the government's statistics bureau, 4m more than in 2005.

AFP
Almost one in fiveThat the poverty level has stopped falling is no surprise. A 126% increase in fuel prices last October catapulted inflation to 18%, while wages increased only marginally. The number of poor Indonesians would have soared even more, to 51m according to the statistics office, if the government had not given cash handouts to some 76m people to cushion the effects of the fuel-price increase (which eliminated a costly subsidy). But activists are questioning the data. They argue that the figures fail to give the full alarming picture.


http://www.economist.com/world/asia/displaystory.cfm?story_id=7925064
Re: Bbc, Olusosun And Nigerian Middle Class Hypocrisy by paddylo1(m): 11:17pm On Apr 19, 2010
^^

I know, that article came out in 2006, and i read it, point is poverty is about 13% today,
and if the Govt gives cash payouts to poorer ppl, then its a good thing(i thought u were a socialist,u should be happy )

I really dont know what your agenda is on this topic,
Indonesia is a success story,Its a democracy,
If the people were unhappy they would take to the streets like they are doing in Thailand right now

Asians dont play when it comes to protests,
Re: Bbc, Olusosun And Nigerian Middle Class Hypocrisy by paddylo1(m): 11:29pm On Apr 19, 2010
G-20 Membership Countries,
Note u cant Just wake up one morning and become a member of the G-20, that is why Afghanistan is not on the list

1.Argentina
2.Australia
3.Brazil
4.Canada
5.China
6.France
7.Germany
8.India

[size=16pt]9.Indonesia[/size]
10.Italy
11.Japan
12.Mexico
13.Russia
14.Saudi Arabia
15.South Africa
16.Republic of Korea
17.Turkey
18.United Kingdom
19.United States of America
20.EU

http://www.g20.org/about_what_is_g20.aspx
Re: Bbc, Olusosun And Nigerian Middle Class Hypocrisy by cap28: 11:32pm On Apr 19, 2010
paddy_lo:

^^

I know, that article came out in 2006, and i read it, point is poverty is about 13% today,
and if the Govt gives cash payouts to poorer ppl, then its a good thing(i thought u were a socialist,u should be happy )

I really dont know what your agenda is on this topic,
Indonesia is a success story,Its a democracy,
If the people were unhappy they would take to the streets like they are doing in Thailand right now

Asians dont play when it comes to protests,


you really dont get it do you?  the govt gave one off cash handouts to the people which created an artificial reduction in the overall figures, does that not indicate to you that your glorious capitalist system is not working.

if indonesia is a success story then that would mean that nigeria is also a success story but you seem to measure sucess in a completely different way from everyone else, my idea of success is people havign the opportunity to feed themselves and provide for their families on a decent wage, whats your idea?
Re: Bbc, Olusosun And Nigerian Middle Class Hypocrisy by cap28: 11:39pm On Apr 19, 2010
now lets for the sake of argument even agree that the number of poor stands at a "mere" 32 million - do you think that is acceptable in an economy which according to you serves as a model of the capitalist system to the rest of the "developing" world.

i dont understand why you are posting pictures of downtown jakarta, what does that prove?  why dont  you post pictures of affordable housing, schools and health care facilities for the working people there ?  

i cant understand why you are such an advocate of such right wing ideologies, what stake do you have in a system which is set up to benefit the very few and screw the majority?  i doubt that you are a member of the elite group whose economic policies you vigorously defend and therefore im puzzled as to your outlook.
Re: Bbc, Olusosun And Nigerian Middle Class Hypocrisy by paddylo1(m): 11:53pm On Apr 19, 2010
now lets for the sake of argument even agree that the number of poor stands at a "mere" 32 million - do you think that is acceptable in an economy which according to you serves as a model of the capitalist system to the rest of the "developing" world.

i dont understand why you are posting pictures of downtown jakarta, what does that prove?  why dont  you post pictures of affordable housing, schools and health care facilities for the working people there ? 

i cant understand why you are such an advocate of such right wing ideologies, what stake do you have in a system which is set up to benefit the very few and screw the majority?  i doubt that you are a member of the elite group whose economic policies you vigorously defend and therefore im puzzled as to your outlook.

If u prorate that 13% figure to Nigeria u would get 19million poor people,
Instead of the perhaps 70 million we have today in Nigeria

What u should be talikng about is the trend of of poverty
Is it going up or down?, Clearly Indonesia is doing a good Job in reducing Poverty while Nigeria is still struggling

Then there is Unemployment,
Indonesia has managed to Provide employment for 90% of its Populace,
Unemployment is less than 10%, whearas in Nigeria its close to 50%

Again it is clear that the overwhelming majority of Indonesians are Free and happy with their capitalist system
This is not an elite or ideology matter, cause every nation has its elites, even north korea and cuba,
Its a matter of which system gives the poor a better chance to improve their lot
Re: Bbc, Olusosun And Nigerian Middle Class Hypocrisy by Nobody: 7:38am On Apr 20, 2010
Wait dude. Dubai is more beautiful than Anywhere in Indonesia. But recently what happened to the debts? Greece thrown into a state of anarchy, does that make sense to you? Dubai is in huge debt is facing a great recession which the rest of the world is about to pull out of. Do you know what happens to the poor population in Dubai? Sorry you haven't been there apart from what you see on google Imagges. I have been there and won't even argue with you. Dude you have no clue my friend. Debt and deregulation has thrown greece into a state of emergency. Entire EU trying to help. You are clueless not even naive just plain clueless lo.
Re: Bbc, Olusosun And Nigerian Middle Class Hypocrisy by sulad82i(m): 1:44pm On Apr 20, 2010
Like I said before . this thread is Paddy lo vs, other.
and also
paddy lo is all over the place picking points that sometimes doesnt align with the point he's tryna make. I dont know if you ever think of it that capitalism is modern slavery. The rich guy doesn't have to force you, the law protects him just like the big country can use small ones to make ends meet for their population.
Re: Bbc, Olusosun And Nigerian Middle Class Hypocrisy by paitoy: 4:03pm On Apr 20, 2010
cry,think that's true,there is clear cut boundary between the haves and have nots.though Nigeria is blessed.rich vegetation but it's disregarded.GOD help us.
Re: Bbc, Olusosun And Nigerian Middle Class Hypocrisy by bawomolo(m): 4:04pm On Apr 20, 2010
4Play

why are you posting obscure facts like power supply? The measure of improvement is clearly the increased generator fumes people breathe in - how can you avoid that in your posts?

abi o, why isn't 4play talking about our homemade power supply. cheesy
Re: Bbc, Olusosun And Nigerian Middle Class Hypocrisy by Kobojunkie: 4:13pm On Apr 20, 2010
sulad82i:

Like I said before . this thread is Paddy lo vs, other.
and also
paddy lo is all over the place picking points that sometimes doesnt align with the point he's tryna make. I dont know if you ever think of it that capitalism is modern slavery. The rich guy doesn't have to force you, the law protects him just like the big country can use small ones to make ends meet for their population.

Capitalism is NOT modern slavery – Western governments are continually trying to find ways to regulate it to the benefit of their people. I am definitely not, for what @Paddy_lo is proposing here because I doubt he has really studied most of the countries he continues to mention closer than in an economics class or something similar. In most of these countries mentioned by @paddy_lo, capitalisms is akin to slavery, what the governments in these states allow for their own people, and that is not what we ought to be calling for.

I recently heard that the flower industry in Kenya produces about 20% of consumption in Europe, outpacing Israel, and asia in the last decade. Well, a closer look reveals that a majority of the workers work 46-hour workweeks, and are paid a pound a day, majority with no benefits. Is this really the good life?

http://www.learningafrica.org.uk/downloads/casestudy_flowers.pdf

@Paddy_lo's fixation on all things highrise and flashy is not that of developed countries at all. Look at Wilmington DE where most all financial companies are headquartered in the US, you will find that a mild city compared to Chicago, or even NY next door.
Re: Bbc, Olusosun And Nigerian Middle Class Hypocrisy by Pennywise(m): 5:32pm On Apr 20, 2010
Paddy Lo, you have done a terrific job. Your understanding of these issues no doubt is quite profound. If there is another economist in the house I have not seen him yet.

It is agreed that Nigeria has a lot of extremely poor people that could constitute threat to social security and stability and questions have been raised abt the morality of having so much poverty in the midst of plenty. What is in contention is the desirable economic model that can best provide for these poor in a sustainable manner.

Those who are advocating socialism (I spit) seem to be blind to the fact that the last vestiges of this abnormal, unnatural and inherently corrupt economic model is in final retreat everywhere it was practiced in the world. If it has not worked for other countries why do some think it will in Nigeria where the leaders are mindlessly corrupt.

Some have complained about unfair labour practices in capitalism, but at least there is a job where there was none. Shouldnt we get there first and see how we can address that rather maintaining a system that keeps us running around in a circle?
Re: Bbc, Olusosun And Nigerian Middle Class Hypocrisy by paddylo1(m): 7:06pm On Apr 20, 2010
@Paddy_lo's fixation on all things highrise and flashy is not that of developed countries at all. Look at Wilmington DE where most all financial companies are headquartered in the US, you will find that a mild city compared to Chicago, or even NY next door.

Companies registering in wilmington DE is primarily a tax and Favorable laws issue,

That is Delaware, makes it very easy for companies to register there
and gives them favorable tax and legal laws and so on. . .

Note the companies dont have to be headquartered there, just register and renew the licensec every yr
The registration its a sort of business on its own and brings tax revenues to delaware
Re: Bbc, Olusosun And Nigerian Middle Class Hypocrisy by odumorun: 12:19am On Apr 21, 2010
BUT HAS SOCIALISM REALY FAILED WHEN,


Has socialism really died when Gordon Brown and Barrack Obama recently injected more public money into the economy in 7 months than the Communists managed in 7 decades? When the Governor of the Central bank in England prints more money than Robert Mugabe does in Zimbabwe. They print money to save the economy in the west its called ‘Quantitative easing’ and the paddy lo’s of this world say amen, when it is carried out in a third world co country they deride it as  ‘economic madness'.

As I explained in my last post which Paddy Lo carefully ignored, Capitalism survives permanently on a life support system called public intervention. The same public intervention it mercilessly pillories when it is extended in support of the poor. Without the recent international financial intervention led by Gordon Brown nationalising failing banks and feeding unprecedented amounts of public funds into collapsing finance houses and banks, the advanced economies of the west would have gone under.

It was not the invisible hand of the market that rescued liberal capitalism, it was the ‘dead hand of Government’ to use a popular slur of the right when the state intervenes in support of the powerless. When the state spends in support of the wealthy, it is celebrated as afar sighted economics

Just this night the private airlines in Europe have demanded a Government subvention to take care of the losses they suffered due to the volcanic eruption induced flight cancellation across Europe. Surely only single mums are supposed to do that Last year Ford; the thrusting Lion of American capitalism grovelled for and received a huge injection of public cash from the US Government as did the car industry across the Western world to stave off melt down. What happened to the magic of the market, the unerring invisible hand?



PADDY LO’S HALF TRUTHS ON INDONESIA

Paddy Lo has written a lot on Indonesia. However like most of the Asian tiger economies, state regulation plays a dominant role in breast feeding this particular capitalist economy. What paddy lo did not mention was that 164 of the biggest enterprises in Indonesia are owned by the government, neither did he mention that in Indonesia the Government controls the price of food, electricity and fuel. This is not the free wheeling capitalism paddy asserts has made Indonesia rich. In reality all the major Asian economies are hugely regulated unlike Nigeria which is totally unregulated as it operates an extreme form of gangster Wild West capitalism that has brought the country to its knees.

However the Asian tigers have made progress under capitalism. But that is only because in the immediate aftermath of the Second World War, Imperialism faced its gravest threat in Asia, with revolutions breaking out in China, Vietnam, Korea, Indonesia, Malaysia and Burma. At no other location in the world had western power faced such an unprecedented challenge to its power at a moment of unparalled historicasl weakness with the main western countries, weakened by a catastrophic war which had left their countries in ruins and their citizens exhausted tearing the guts out of the old imperial powers, France and Britain Hence the US , the dominant  western power which took over the interest of the old European powes in Asia  was forced to use a carrot and stick approach to stop the overthrow of capitalism across the Asian subcontinent . Bombs were used in Vietnam and Korea, but imperialism was also forced to foster capitalist development in places like Malaysia, Hong Kong, Indonesia, injecting investment and allowing priviliedged access to western markets for their goods,  to prevent the spread of revolution which it knew force alone was powerless to prevent.

Or as Che Guevara told a peasant in Bolivia, ‘why is it that the only places they build schools and hospitals are those where revolutionaries have appeared.

Currently the biggest international economic issue paddy Lo has ignored is the huge success by left wing governments in South America, Lula in Brazil, Morales in Peru and Chavez in Venezuela in reducing poverty and encouraging growth. Peru under the left wing Morales is now the fastest growing country in South America, Brazil was comatose before Lula took power about 9 years ago, now driven by major state interventions in the economy it is surging ahead.

Chavez has even his enemies admit done more to eradicate poverty that all the right wing governments put together in that countries almost 150 year history

IS CAPITALISM THE END OF HISTORY

Capitalism’s strength is its weakness. – The market, as we have seen the market cannot adjust itself, it requires the government to do that. The market itself is a cruel illusion as it is fuelled by measureless consumer credit. In the beginning capitalist credit was extended only to investors through loans and bonds, by the late 20th century however it was being extended to consumers to artificially inflate a market shrunk by the poverty wages capitalism needs to pay its workers to make a profit. Even the sizeable middle class it created in the western world requires this credit to maintain its life style. In the UK alone it is estimated that the debt of the average household is about £11000. Everybody knows it can never be repaid.

As the credit increases so does the risk of it ever being repaid, then when investors panic and call in their funds the house of cards collapses with the rich extending their begging bowls to the state.

In Africa, the west forced down the prices of raw materials in the 1970’s using major price cartels to push down the major products of the poorest countries who could no longer afford to pay the bills for their imports. The obvious solution would clearly be to stop importing and start manufacturing locally. However this would have brought the international economy to a standstill, so once aging credit was extended to the poor countries the same way it is extended to the poor of the rich countries,. The result was an unplayable debt burden, bankruptcy, the IMF and ruin. A national experience now eerily familiar to many households in the west today.

It is true that capitalism can temporarily raise the living standards of large sections of the population, but this can’t be sustained for any length of time as it invariably has to claw back what it has given when it is seized by its recurrent crisis. In Indonesia millions of people who had assumed they were made were ruined when the Asian economises collapsed in 1997. It will happen again.

Capitalism undoubtedly advances and improves the productive forces, however so did the 5 hundred year Trans Atlantic slave trade. Of course we all condemn it now, but then hindsight is a wonderful thing. The slave trade brought about the greatest advance in human productivity by providing the funds for the establishment of modern capitalism. The plantations in the Americas funded the growth of industry al over the west, entire cities, such as Liverpool, Bristol were built from scratch by the trade. But slavery collapsed because like capitalism it destroys the very productive forces it brings to life.

Paddy Lo says that Capitalism has succeeded where socialism has failed. Really? If the longetivity of a social system is what determines its success, then roman slavery with its Coliseums where children were thrown to lions, (the period’s premier league) which lasted 3000 years is a better system than capitalism which has lasted just 300. Such is the logic of that flawed argument
Re: Bbc, Olusosun And Nigerian Middle Class Hypocrisy by Kobojunkie: 12:24am On Apr 21, 2010
paddy_lo:

Companies registering in wilmington DE is primarily a tax and Favorable laws issue,

That is Delaware, makes it very easy for companies to register there
and gives them favorable tax and legal laws and so on. . .

Note the companies dont have to be headquartered there, just register and renew the licensec every yr
The registration its a sort of business on its own and brings tax revenues to delaware


They don't have to be, but many of them are right there in wilmington DE and operate from out there. These are some of the largest in the world and yet you do not find the same trend you see in places like NY, Chicago when it comes to skyscrapers.


Wilmington has become a national financial center for the credit card industry, largely due to regulations enacted by former Governor Pierre S. du Pont, IV in 1981. The Financial Center Development Act of 1981, among other things, eliminated the usury laws enacted by most states, thereby removing the cap on interest rates that banks may legally charge customers. Many major credit card issuers, including Bank of America (formerly MBNA Corporation), Chase Card Services (part of JPMorgan Chase & Co., formerly Bank One/First USA), and Barclays Bank of Delaware (formerly Juniper Bank), are headquartered in Wilmington. The Dutch banking giant ING Groep N.V. headquartered its U.S. internet banking unit, ING Direct, in Wilmington. The United Kingdom's HSBC has their American operations headquartered in Wilmington. Wilmington Trust is headquartered in Wilmington at Rodney Square. Barclays and ING Direct have very large and prominent locations located along the waterfront of the Christina River. In 1988, the Delaware legislature enacted a law which required a would-be acquirer to capture 85 percent of a Delaware chartered corporation’s stock in a single transaction or wait three years before proceeding. This law strengthened Delaware's position as a safe haven for corporate charters during an especially turbulent time filled with hostile takeovers.

Wilmington's other notable industries include insurance (American Life Insurance Company [ALICO], Blue Cross and Blue Shield of Delaware), retail banking (including the Delaware headquarters of: Wilmington Trust, PNC Bank, Wachovia Bank, JPMorgan Chase, HSBC, Citizens Bank, Wilmington Savings Fund Society, and Artisans' Bank), and legal services. A General Motors plant was closed in 2009.[38] Delaware's only two remaining homegrown 2006 Fortune 1000 companies, E.I. du Pont de Nemours and Company and Hercules, both have their global headquarters in downtown Wilmington. This is two less than previous years due to the acquisition of MBNA by Bank of America, and Conectiv through Pepco Holding's subsidiary, Delmarva Power. In addition, the city is the corporate domicile of more than 50% of the publicly traded companies in the United States, and over 60% of the Fortune 500.

http://en.wikipedia.org/wiki/Wilmington,_Delaware
Re: Bbc, Olusosun And Nigerian Middle Class Hypocrisy by paddylo1(m): 12:41am On Apr 21, 2010
They don't have to be, but many of them are right there in wilmington DE and operate from out there. These are some of the largest in the world and yet you do not find the same trend you see in places like NY, Chicago when it comes to skyscrapers.

This statement above is not true. . . . .
Here is why companys incorporate in Delaware. . .


Why do so many companies incorporate in Delaware?

Businesses choose Delaware not for one single reason, but because we provide a complete package of incorporations services. The Delaware General Corporation Law is the most advanced and flexible business formation statute in the nation. The Delaware Court of Chancery is a unique 215 year old business court that has written most of the modern U.S. corporation case law. Delaware's State Government is business-friendly and accessible. Our Division of Corporation is a model state-of-the-art efficiency and our staff provides prompt, friendly and professional service to clients, attorneys, registered agents and others. These factors have all contributed to making Delaware a premier legal home to companies around the world.
Do I have to live in Delaware to have a Delaware corporation?
No. Delaware law requires every corporation to have and maintain a Registered Agent in the State who may be either an individual resident, a domestic corporation, or a foreign corporation authorized to transact business in Delaware whose business office is identical with the corporation's registered office.
http://corp.delaware.gov/faqs.shtml

Basically like i told u, Delaware is like the Corporate Affairs Commision in Abuja, People go there to Incorporate Businesses cause its easy,and because they have a long history of doing it
and they move on after that

Cities with 5 or more FORTUNE 500 headquarters, From CNN Money, http://money.cnn.com/magazines/fortune/fortune500/2009/cities/

city State Number of Fortune 500 companies
New York NY 43
Houston TX 27
Dallas TX 14
Atlanta GA 9
Chicago IL 9
Minneapolis MN 9
San Francisco CA 7
St. Louis MO 7
Charlotte NC 6
Los Angeles CA 6
Philadelphia PA 6
Pittsburgh PA 6
Cincinnati OH 5
Columbus OH 5
Englewood CO 5
Milwaukee WI 5
Richmond VA 5
San Antonio TX 5

PS, Stop arguing about something u know nothing about, No major american company is Headquartered in Delaware
I have been to Wilmington,delaware, Its a small town, with lots of poverty, nothing happening there

and by the way, your point has no bearings whatsoever on my arguments on Capitalism or on Indonesia
so even though what u argue is not true, I dont know why u brought it up. . .
Re: Bbc, Olusosun And Nigerian Middle Class Hypocrisy by Kobojunkie: 12:55am On Apr 21, 2010
Dude, I live fulltime in Wilmington DE, currently in another city for work. Everyone here knows why Companies choose to incorporate in DE OR NV. However, anyone who lives here in Wilmington know what big finanicial companies are here.  Your argument was that financial companies are found mostly in skyscraper cities and I explained that Wilmington has the presence of many of the same but yet no skyscrapers. Wilmington is a small town? Stop arguing blindly!!
Re: Bbc, Olusosun And Nigerian Middle Class Hypocrisy by paddylo1(m): 1:01am On Apr 21, 2010
Wilmington has become a national financial center for the credit card industry, largely due to regulations enacted by former Governor Pierre S. du Pont, IV in 1981. The Financial Center Development Act of 1981, among other things, eliminated the usury laws enacted by most states, thereby removing the cap on interest rates that banks may legally charge customers. Many major credit card issuers, including Bank of America (formerly MBNA Corporation), Chase Card Services (part of JPMorgan Chase & Co., formerly Bank One/First USA), and Barclays Bank of Delaware (formerly Juniper Bank), are headquartered in Wilmington. The Dutch banking giant ING Groep N.V. headquartered its U.S. internet banking unit, ING Direct, in Wilmington. The United Kingdom's HSBC has their American operations headquartered in Wilmington. Wilmington Trust is headquartered in Wilmington at Rodney Square. Barclays and ING Direct have very large and prominent locations located along the waterfront of the Christina River. In 1988, the Delaware legislature enacted a law which required a would-be acquirer to capture 85 percent of a Delaware chartered corporation’s stock in a single transaction or wait three years before proceeding. This law strengthened Delaware's position as a safe haven for corporate charters during an especially turbulent time filled with hostile takeovers.

Wilmington's other notable industries include insurance (American Life Insurance Company [ALICO], Blue Cross and Blue Shield of Delaware), retail banking (including the Delaware headquarters of: Wilmington Trust, PNC Bank, Wachovia Bank, JPMorgan Chase, HSBC, Citizens Bank, Wilmington Savings Fund Society, and Artisans' Bank), and legal services. A General Motors plant was closed in 2009.[38] Delaware's only two remaining homegrown 2006 Fortune 1000 companies, E.I. du Pont de Nemours and Company and Hercules, both have their global headquarters in downtown Wilmington. This is two less than previous years due to the acquisition of MBNA by Bank of America, and Conectiv through Pepco Holding's subsidiary, Delmarva Power. In addition, the city is the corporate domicile of more than 50% of the publicly traded companies in the United States, and over 60% of the Fortune 500.


Lol, Let me Break it down For u, cause u dont know am familiar with the Financial services Industry. . . .

1. Bank of America. . . HeadQuarters is in Charlotte North Carolina
2. JP Morgan. . . . . . . .HeadQuarters is in New York City
3. HSBC, and ING are foreign Banks, which probably have a presence in delaware,but that doesnt mean anything
4. PNC, Headquartered in Pittsburgh Pennsylvania
5. Wachovia was Headquarted in Charlotte, before being bought by Wells Fargo of Sanfrancisco
6. Citizens Bank is a subsidiary of some International bank,
7. General Motors is HQ in Detroit

Basically these things u list are local Branches of the Big banks, again like i said Delaware has good laws that protect capitalists, thats why Companies register there
if anything u are making my point for me,
For example delawares easy credit card laws,made lots of Financial services firms incorporate there
togethere with OMAHA Nebraska in the west
Re: Bbc, Olusosun And Nigerian Middle Class Hypocrisy by Kobojunkie: 1:04am On Apr 21, 2010
I think you may need to put your ego aside for a minute so you can read that post from the wiki page well!!! I know it is too easy to figure you know it all and so no one else, not even those who live and work for any of the financial companies mentioned on your list can know more than you do.
Re: Bbc, Olusosun And Nigerian Middle Class Hypocrisy by paddylo1(m): 1:09am On Apr 21, 2010
Dude, I live fulltime in Wilmington DE, currently in another city for work. Everyone here knows why Companies choose to incorporate in DE OR NV. However, anyone who lives here in Wilmington know what big finanicial companies are here.  Your argument was that financial companies are found mostly in skyscraper cities and I explained that Wilmington has the presence of many of the same but yet no skyscrapers. Wilmington is a small town? Stop arguing blindly!!

Can u actually show me exactly where and when i said Financial companies are found mostly in skyscraper cities?

I never said that,
Everyone in the USA, knows that the downtown area of any major city has most of the big banks present there
big deal, no-one is argueing that with u. . .

U just decided to bring up delaware, without making much sense, so what if delaware has no skyscrapers
Its still very capitalist in nature. . . .It still gives lax laws to big corporations, so whats your point exactly?
Re: Bbc, Olusosun And Nigerian Middle Class Hypocrisy by paddylo1(m): 1:15am On Apr 21, 2010
I think you may need to put your ego aside for a minute so you can read that post from the wiki page well!!! I know it is too easy to figure you know it all and so no one else, not even those who live and work for any of the financial companies mentioned on your list can know more than you do.

Lol, wiki page?, am giving u the FACTS u telling me bout a wiki page. . . .

Ok heres a job for u. . .go to Yahoo Finance, http://finance.yahoo.com/q/pr?s=JPM
type in these Stock symbols,

1. BAC
2. JPM
3. PNC
4. WFC
5. GM

click on company profile, to take u to these companies websites and learn more about them. . .
Re: Bbc, Olusosun And Nigerian Middle Class Hypocrisy by paddylo1(m): 1:24am On Apr 21, 2010
In addition, the city is the corporate domicile of more than 50% of the publicly traded companies in the United States, and over 60% of the Fortune 500.

Ps, one more thing. . . .This statement from your so called wiki link is Factually innacurate, and totally mis-leading

Delaware has only 1 Fortune 500 company Headquartered in it, pls see link again, http://money.cnn.com/magazines/fortune/fortune500/2009/cities/

Yes half the Fortune 500 may register or incorporate in the city, but no one stays
Its just paperwork, as i said before,its like going to Abuja to register a company with CAC,

Re: Bbc, Olusosun And Nigerian Middle Class Hypocrisy by paddylo1(m): 1:30am On Apr 21, 2010
@odumorun

"Democracy is the worst form of government on earth except for all the rest." - Winston Churchill.

Same thing u can apply to Capitalism. . . sure its not perfect,but the alternatives are woeful and only lead to mass starvation,dictatorship and death
Because whether u like to admit it or not Socialism usually goes hand in hand with dictatorships and oppression,
Re: Bbc, Olusosun And Nigerian Middle Class Hypocrisy by Nobody: 7:54am On Apr 21, 2010
Dude you know nothing about how the world works. Just let it go. You are one hell of a mediocre analyst. I hope you are around my age so as we grow things will become clearer to you. You are pulling things off websites all day and night. Don't you think it's time to chill and have a beer or call your girl up? Hopefully you won't be talking to her about stuffs like you've been saying all day. Leave it alone. You are wrong admit it. See things from another point of view. And to the guys calling capitalism a liberal thing, you guys are just clueless as the person you guys are accusing. Capitalism is not a system of government neither is it a political principle. Paddy lo has successfully diverted the thread to one that proves the point of the poster even though he doesn't know that's what he is doing. What we have in Nigeria today is extreme capitalism and it has been that way since when? Some older folks shed lights that. Is Nigeria working? That's what capitalism does to you!!! Capitalism doesn't work anywhere in the world simple. Just let go off your ego and stop giving bad sites with wrong information more indexing by posting their links up on here.
Re: Bbc, Olusosun And Nigerian Middle Class Hypocrisy by dustydee: 9:25am On Apr 21, 2010
some intellectual debate going on here, good sign.
Re: Bbc, Olusosun And Nigerian Middle Class Hypocrisy by pcicero(m): 1:33pm On Apr 21, 2010
An intellectually stimulating post and comments. Although Paddy Lo seems to be a bit out of touch with the reality here in Naija. Those statistics aren't that reliable.
For the folks bashing the Western media for negative press on Nigeria, i think it's because of the expectations they share with us for our [i]dear[/i] country.
As a Nigerian who has spent all his life in this country, i am referring to more than three decades, i understand the anger and resentments expressed towards our pitiable level of development.
For all his faults, OBJ actually made some marks in the areas of economic development until Yar Adua started reversing both the good and the bad without alternatives.
That we have been so backward is not because of our meagre 50 years of existence as a nation even when almost all our political handlers have heard of the phrase "quantum leap". Rather, it is because we choose to copy the wrong things.

Having made appreciable recoveries from the recession in the West, Pres. Obama and Prime Minister Gordon Brown are looking for measures to make live better for their people. But the things that our own leaders think of during the periods of economic bouyancy are to increasing their allowances, increasing their fleet of cars,building new quarters, marrying more wives (lol), sharing the loot etc. without thinking of improving the healthcare delivery system, providing affordable housing for the teeming populace, fixing our roads and giving adequate attention to the educational sector.

It is unfortunate that a community in Lagos has to be the epicenter of that documentary in spite of Governor Fashola's numerous achievements. But it is also a reminder that more needs to be done and that development is a continuous job.

That is the very lesson i have taken from all these discussions.

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