Tag Archives: Bank of America

Many same investors in Sabal Trail and Dakota Access Pipeline

DAPL and Sabal Trail are more intertwined than we thought. But first, who are the institutional investors in the three Sabal Trail partners? Three Banks NASDAQ makes this easy to discover, and the answer is in the first table below: among banks State Street and Bank of America stand out.

Let’s not forget Williams Company, of the Transco Hillabee Expansion Project from which Sabal Trail wants to get its fracked methane; see the second table, which State Street clearly wins, and there’s Goldman Sachs.

We learned this week that Enbridge of the Dakota Access Pipeline (DAPL) opposed by the Standing Rock Sioux in North Dakota: that Enbridge is buying Spectra Energy of Sabal Trail.

But there’s more! Last year Williams was bought by Energy Transfer Equity, which is the main backer of DAPL.

Update 2016-09-26: Actually, Energy Transfer backed out of buying Williams Co..

See the third table, which shows banks bought into at least five of the partner entities: Bank of America and Morgan Stanley.

Opponents of Sabal Trail are not just fighting the same industry as DAPL: they’re fighting many of the same companies and the same investors.

Investors in Sabal Trail partners (Spectra Energy, NextEra Energy, Duke Energy)

Continue reading

Banks as slumlord renters reducing property values

Lou Raguse write for WIVB.com 4 April 2013, Cheektowaga picks fight with big banks,

CHEEKTOWAGA, N.Y. (WIVB)—Neighbors in Cheektowaga say empty houses are ruining the value of their neighborhoods and bringing in unwanted guests.

Residents want to know why these properties, seized by banking giants, have been left to crumble. The town board says they have serious issues with the homeowners.

“In normal life, you would call them slumlords,” says Town Board Member Charlie Markel.

Those so-called “slumlords” are big banks like Bank of America and Chase. Markel says in too many cases, a homeowner falls behind on a mortgage and the bank begins to foreclose. But then, it stops short. He says the bank continues paying property tax but allows the homes to fall into disrepair, never allowing them back on the market for sale, or to be auctioned.

Let’s remember what last year’s study of America’s richest and poorest cities found about the Valdosta MSA:

Despite these positives, 14.4 percent of housing units were vacant last year [2011], higher than the national vacancy rate of 13.1 percent.

I wonder how big national and multinational banks are serving our area? And with a vacancy rate that high, and housing prices still dropping, why are we building more houses?


First ALEC, now Heartland Institute: losing sponsors

Heartland Institute, one of only two organizations to field a speaker for continuing Plant Vogtle delays and cost overruns at this week's GA PSC hearing, has been dropped by every pharmaceutical company. When you're down to Heartland Institute and renewable-energy-opposing and astroturf-funding super-lobby group ALEC, itself rapidly losing members (so bad even Bank of America has dumped ALEC); and when your public hearing speakers are 40 to 1 against continuing with Southern Company and Georgia Power's nuclear boondoggle, maybe it's time to end it.

Brad Johnson wrote for thinkprogress 19 December 2012, Heeding Public Outrage, Pfizer Drops Climate Denial And Tobacco Front Group Heartland Institute,

The pharmaceutical giant Pfizer (PFE) has confirmed that it will no longer support the Heartland Institute, a political advocacy group that questions the science of climate change and tobacco smoking. Forecast the Facts, which is leading the campaign calling on corporations to drop Heartland, was informed of the decision by Pfizer's Corporate Secretary Matthew Lepore. Pfizer was a major donor to Heartland, giving $45,000 in 2012 alone.

Pfizer's decision means that there are no longer any pharmaceutical companies known to support the Heartland Institute.

Pfizer's last contribution to Heartland was in 2012. Pfizer's decision follows a groundswell of public outrage over the corporate support for the Heartland Institute's toxic behavior, including a billboard campaign that equated believers in climate change with serial killers such as the Unabomber. Over 150,000 people have signed petitions to corporate leaders to drop Heartland. Pfizer is the 21st company to end its support for Joseph Bast's organization, joining its competitors Amgen (AMGN), Eli Lilly (LLY), Bayer (BAYRY), and GlaxoSmithKline (GSK), as well as major companies like General Motors (GM), State Farm, and PepsiCo (PEP).

That’s the best you’ve got for support, PSC, and you’re pretending continuing to let Southern Company and Georgia Power run up a bill of $billions is in the best interests of the people of Georgia?


Occupy movement inspires Valdosta —VSU Spectator

The VSU Spectator posted the most detailed traditional news media report of Occupy Valdosta, along with an excellently edited video. Desiree Thompson wrote 20 October 2011, Occupy movement inspires Valdosta,
According to Occupy Valdosta’s mission statement, the group exercises their right to “peacefully assemble, to nonviolently occupy public space, to create an open process to address the problems they face, and to generate solutions accessible to everyone.”

In an attempt to raise revenue, Bank of America Corp. plans to charge customers at the beginning of next year with a $5 fee every month they use their debit cards outside of withdrawing from the Bank of America ATM.

Protestors demanded an answer from the bank downtown, but employees refused to comment.

Here’s the Spectator video:

Occupy movement inspires Valdosta —VSU Spectator
We are the 99%,
Marching to Occupy Valdosta, Occupy Valdosta,
Valdosta, Lowndes County, Georgia, 14 October 2011.
Videos by Gretchen Quarterman for LAKE, the Lowndes Area Knowledge Exchange.

Extensive quotes from students: Continue reading

Marching for rights —Mario Bartoletti @ MLK Monument Occupy Valdosta

Mario Bartoletti stood up at the Martin Luther King Jr. Monument in Valdosta and said to Occupy Valdosta:
I’m just shy of 79 and I’ve been out here marching all the way today, and I’ll tell you why.
When I was your age, we were marching for civil rights. We made it. Now we’re marching for another kind of rights, and I guarantee we’re going to make it! I want you to promise, when you’re my age, you’re going to be leading a demonstration for those who march for those kinds of rights.

Here’s the video:

Marching for rights —Mario Bartoletti @ MLK Monument Occupy Valdosta
We are the 99%,
Marching to Occupy Valdosta, Occupy Valdosta,
Valdosta, Lowndes County, Georgia, 14 October 2011.
Videos by Gretchen Quarterman for LAKE, the Lowndes Area Knowledge Exchange.


Marching to Occupy Valdosta 14 October 2011

Will someone pick up that sign? As you can see in the playlist, why yes, someone did!

More than 100 people (estimates ranged from 110 to 150) went Marching to Occupy Valdosta.

Tony Daniels and Freddie Richardson carry the Occupy Valdosta banner

They marched more than three miles from Drexel Park to Bank of America, where they noted BoA got bailed out and we got left out and recommended withdrawing your money. Then to MLK Park, where many people spoke on a variety of subjects ranging from stand together, to make the Industrial Authority be accounted, to vote No on School Consolidation on November 8th, to if MLK was alive he would be here today, to marching for rights for a lifetime, to no private prison, to tax the rich, and and of course come back here (MLK Park) tomorrow (Sat 15 Oct) at 11AM! Then to the VDT (where the Assistant Managing Editor was surprised by a cheer) and the Chamber (where the President didn’t care for a thesaurus lesson); more on all those stops later.

Marching to Occupy Valdosta, 14 October 2011:
Drexel Park, Bank of America, MLK Park, VDT, Chamber of Commerce.
Videos by Gretchen Quarterman and John S. Quarterman
for LAKE, the Lowndes Area Knowledge Exchange.

Videos are still uploading, so check back later. I’ll also blog more about specific events along the way.