I would like to applaud Andy Duncan for his well-crafted Feb. 3 reader commentary on the coal subsidies (“Do coal companies need taxpayer subsidies?).
His comments reflect a keen understanding of important financial and numerical issues that every citizen of this country should develop as well as all ability to frame critical questions that are at the center of an honest and collaborative democratic process.
There are two other issues that I would like to introduce into the conversation.
The first focuses on how corporations actually measure their own performance internally. It Is not uncommon for corporate representatives to state to the public that their company makes only a few cents oil for each dollar of sales.
Although that public statement is likely to be true, it evades the issue of how corporations truly measure their own performance and that generally is cash flow return on net assets.
Cash flow is net income after taxes plus depreciation and any other non-cash expense items in the income statement such as unfunded pension expenses.
Typically, cash flow return on net assets will exceed 10 percent and frequently more than 15 percent, a return on their investment that most of us would like to get on our own money. The Maryland coal companies are welcome to share with us their cash flow return oil net asset figures.
The second issue focuses on what I see as the hypocrisy of the Maryland coal companies lobbying hard for the subsidies while at the same time, under the mantra of a "free market," joining with their coal brethren from other coal states to do all in their power to stifle federal and/or state legislation to require coal companies to bear the full cost of their operations by repairing environmental damage caused by mountain top removal and the resulting reduction of air, watershed, soil, and wildlife quality as well as the health costs to employees, their families, and the surrounding public.
The common factor between the two is self-interest and greed unchecked by full accountability and responsibility. Said another way, it demonstrates all absence of ethics.
Instead of the state giving the coal companies subsidies, we as citizens should be asking the state to require coal companies to provide subsidies back to the state that reflect the true costs of their operations from all environmental and health perspective.
If the coal companies cannot survive by reflecting the true costs of their operation in their performance, then let their "free market" weed them out. The same should apply to the other energy companies as well, particularly nuclear power.
Let the subsidies the state is currently giving to the coal companies go toward the education budget deficits we have here in Western Maryland and develop the skills exemplified by Andy Duncan so that we have citizens who are capable to engaging knowledgeably, competently, and critically in the conversations that impact their lives and are characteristic of a true democracy.
Thomas F. Hawk
Cumberland
Letters
If they can’t survive without help, let market weed them out
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Isn’t the writter suggesting it really is a matter of choice?
The debate over homosexual marriage in the letters in this newspaper is very revealing. One writer claimed that, “denying these marriages is a form of minority discrimination.”
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Adults can help keep children from suffering burn injuries
I am writing concerning your article in the Feb. 6 Times-News concerning National Burns Awareness Week “National Burn Awareness Week prompts safety tips,” Page 1B).
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Story contained false information about snakes
I read the AP article written Feb 5. regarding the proposed exotic animal regulations in our great state (“W.Va. moves to tighten laws for wild animal owners,” Page 1B).
I must say I am disappointed to say the least at the irresponsible journalism that took place as to print downright lies. -
It would cost nothing to let these students ride the bus
Let me share with you how our Allegany County school system operates.
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Not in the Bible, but the Communist Manifesto
President Obama has hit a new low. By promoting his reasoning for hiking taxes on the rich at the National Prayer Breakfast, he diminished the seriousness of his proposals and manipulated Jesus’ teachings for his own political purposes. How pathetic.
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Landlords, tenants, city all responsible for smoke alarms Landlords, tenants, city all responsible for smoke alarms Landlords, tenants, city all responsible for smoke alarms
Are rental inspections being done?Is the landlord responsible for smoke detectors?
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Argument for same-sex marriage is superficial
I am writing in response to a letter by Ian Stafford entitled, “Equal standards on marriage should be applied to everyone” (Feb. 3 Times-News).
The first thing I noticed about the article is the title. It appeared to be a Gov. O’Malley talking point repeated by his supporter to reframe the issue and promote his radical agenda. -
Some of city’s rail crossings in need of repair or replacement
As I was crossing the rail crossing today at Valley Street and Henderson Avenue, I felt like I was riding a horse-drawn buckboard.
It took several minutes for my kidneys and stomach to right themselves back into a normal position. -
WMHS Home Hospice seeks to increase outreach to veterans
The Western Maryland Health System Home Hospice Services is seeking to increase the outreach to local veterans as part of the “We Honor Veterans” campaign.
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Other reports say to beware of fracking
Scott Cline writes that fears being voiced in the Times-News about hydraulic fracturing are long on fiction and short on facts, then proceeds to explain why fracking is so safe (“Unfounded fears about shale gas obscure facts,” Jan. 25 Times-News.
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Isn’t the writter suggesting it really is a matter of choice?
