Timken’s ball-bearing production will be moved. It is timely that two new Timken NSK ball-bearing plants in China began production in January, and the Randleman, North Carolina plant failed to unionize in February.
W.R. "Tim" Timken, Chairman of the Board of Timken Company, whose decision it was to close the plants, earned more than $2.6 million last year, and stands to receive $59,000 in new tax breaks from Bush this year.
By contrast, 89% of Ohio residents will receive less than $100 by 2006 from the latest Bush tax cuts.
W.R. Timken was signed in as the Bush-appointed Chairman of the Board of the Securities Investor Protection Corporation on April 22, 2003 (2 days before Bush’s speech at his plant), and is also a long-time Director of Diebold, Inc., manufacturer of the highly controversial electronic voting machines.
A final note: In December 2003, Mr. Timken hosted a $2,000-per-person fundraiser, where he spoke before featured guest Vice President Dick Cheney and an audience of Ohio's wealthiest business and civic leaders. Timken denounced liberal philanthropist Peter Lewis’s multi-million dollar pledge to partially match donations to MoveOn.org’s voter fund campaign as an "attempt to buy democracy."
Meanwhile, the Gannett News Service reported that the Cincinnati, Ohio zip code 45243 ranks second only to New York City's 10021 as the most lucrative fundraising neighborhood for Bush, surpassing wealthy communities in Houston, Dallas and even Beverly Hills.
To verify/research, Google: "Bush +Timken."
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KNOW BUSH FACT #26
I apologize up front for the length of this story. It started with a simple "thanks. . . to the efforts of former Secretary of State James Baker . . . ," said by Bush last week, Monday, May 25, 2004, during his televised speech at the U.S. Army War College.
But why, out of the blue, was he thanking former Secretary of State James Baker?
He continued, ". . .many of Iraq's largest creditors have pledged to forgive or substantially reduce Iraqi debt incurred by the former regime."
Perhaps true. However, in fact, there are many other "efforts of former Secretary of State James Baker" for which Bush might offering thanks, going back many years.
It was James Baker's law firm, Baker & Botts, that wrote the contract for Bush to purchase the Texas Rangers baseball team, paying it off with the funds from his suddenly dumped shares in Harken Oil in 1990.
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