The Republican Party of Luzerne County will offer Notary service to any Republican candidate seeking office this Primary Election.  There will be three opportunities at two different locations to obtain a Notary seal on candidate petitions:
Grotto Pizza
Wyoming Valley Mall
Sunday, March 10, 2013
4:00 – 6:00 PM

Law Office of Jim Haggerty
840 W. Market St.
Kingston
Friday, March 8, 2013
9:30 – 10:30 AM
and
Monday March 11, 2013
9:30 – 10:30 AM

The Luzerne County Republican Party is sponsoring a Presidential Debate Watch Party on Wednesday, October 3, 2012  from 8:00 PM – 11:00 PM.  The Party will be held at Mulligan’s Irish Pub, 41 South Main Street in Wilkes-Barre.

The event is open to the public and admission if free.

Two large screen televisions will broadcast the debate. Pizza will be served and there will be a cash bar.

Please come out to support Rick in his campaign for State House.

What:   Rick Arnold for State Rep. Fundraiser

When:  Wednesday, July 18, 2012

Time:    6:30pm-8:30pm

Where:  Cavanaugh’s, 163 N. Main Street, Mountain Top, PA

Details:  Please help support Rick Arnold in his run for State Representative in the 119th District. 

Suggestion Donation:  $50 per person. 

This includes food and open bar (beer and wine).

With the conclusion of our 6 District Conventions we have scheduled the County Convention for the election of the County Chairman according to the following.

Date:    Sunday, July 15
Time:   2:00pm
Place:   Genetti’s Hotel and Conference Center
              77 East Market Street
              Wilkes-Barre, PA 18701

Committee People must present their Certificate of Election at the County Convention.  A Committee Person may be represented at any convention by proxy.  Proxy holders must be a qualified Republican Elector of the same Ward, Precinct, and District as the Committee Person they represent.  A proxy must also present proper credentials in order to be recognized.  Proper credentials include BOTH the Certificate of Election of the Committee person being represented AND a completed proxy form.  The proxy form is included with this letter of notification.  Proxy holders may be asked to show identification.

Committee members should have received their notification and proxy form by mail.  If you have not yet received your notification letter or proxy form, or If you have any questions or require additional information please contact Scott Henry at Shenry@luzerneGOP.org

Aaron Kaufer to present his economic plan, PA FIRST, the

Program for Achieving Future Investments by Reforming State Taxes

Kingston, Pa. – Aaron Kaufer will present his economic plan, PA FIRST, at the American Legion in Kingston on Tuesday. In these tough economic times, it isn’t enough to simply offer the promise of economic solutions tomorrow for the real problems of today. Aaron has developed a plan to stimulate job growth within our state by establishing targeted tax credits aimed at reforming our state’s taxes, streamlining state government, and eliminating the state deficit all while protecting the most vital services in our commonwealth.

WHO: Kaufer Now Campaign, Aaron Kaufer for State Representative.

WHAT: Announcement of PA FIRST, Aaron’s economic plan for the 120^th District.

WHEN: Tuesday, June 26, 2012, 7 p.m.

WHERE: American Legion Post 395

386 Wyoming Ave.

Kingston, Pa. 18704

Jamie Dimon went to Capitol Hill to explain JP Morgan’s (JPM) announced trading loss of 2 billion dollars. The odds of political grandstanding and vilification of banks? High. Congress’s track record in asking substantive, thoughtful questions at hearings like this? Low.

Imagine if Mr. Dimon were able to turn the tables and ask Congress about its qualifications to be judge and jury of such complex and important banking issues.

Perhaps these are the questions Mr. Dimon (and all of us!) would like to ask them.

“Senator, in very broad terms can you tell me what a derivative actually is?”

“Can you tell me the difference between book value and tangible book value?”

“What does the Tier 1 Capital Ratio tell us and how does that ratio at my bank compare to other financial institutions world-wide? (by now he’s probably thinking “Do these people actually write laws that affect trillions of dollars and millions of jobs”)

“We incurred a 2 billion dollar loss. Can you tell me, rounding to the nearest, oh say 100 billion dollars, how much in total assets we have?” (Answer $2.2 trillion)

“Explain to me, again in broad terms, how do losses flow through to various providers of capital and liquidity? Ok I’ll demonstrate who absorbs losses before depositors or taxpayers do.”*

First Hit? Earnings – we are generating about $18-20 billion per year

Next Hit? Tangible common stock holders – we have $134 billion

Next Hit? Preferred shareholders – we have $8 billion

Next Hit? Subordinated bondholders – we have $22 billion

Next Hit? Senior unsecured bondholder-we have $148 billion

Next Hit? Commercial paper –we have $52 billion

So, that’s a total of $383 billion before depositors or taxpayers are on the hook for any losses. So tell me, how you can characterize our bank as ‘gambling with tax payer dollars’ when tax payer dollars were nowhere near this transaction?

“How much does the US government lose in a day?” (Apparently 2 billion dollars, as per Senator Jim DeMint jpwww.mcclatchydc.com/2012/06/13/v-print/152263/jpmorgans-jamie-dimon-takes-responsibility.html)

“Can I, along with the American tax payers, see YOUR TRADING RECORDS, particularly during 2008 when you were one of a handful of individuals on the planet who knew the true conditions at the banks while you were simultaneously drafting legislation that directly affected them?”

“So, you want my bank to make loans, but then you tell me not to take any risk, which is it?”

“How much in cash taxes did JP Morgan pay last year? You can round to the nearest half a billion.” ($8.1 billion and it will be much higher this year.)

“How many people does JP Morgan employ?” (239,00 most of them high paying positions, right here in the US)

“What was the cumulative amount in taxes OUR EMPLOYEES paid last year?”

“Many lament ‘we need more manufacturing jobs in the US.’ But Senator, don’t you think that high paying white collar jobs like the ones my company offers is something worthy of your children’s aspirations?”

“If you were going through what I’m going through right now, do you think you’d be more likely or less likely to hire more people?”

“Thanks for your time. Now I’ve got a bank to run, one that pays a lot in taxes. Last time I checked the US Treasury needed the money.”

Yes, the trading loss of $2 billion is perceived as black eye for JP Morgan’s and Jamie Dimon’s reputation. Even Mr. Dimon admitted risk controls over the trades in question were lacking.

Overall JP Morgan has been very successful on many fronts. It has successfully rebuilt capital ratios, integrated acquisitions, and is generating healthy earnings again.

But the demonizing of Wall Street is overdone. Yes, there were many mistakes made by banks during the financial meltdown. Yet we need to move past vilification of large banks and realize there is major culpability among all players of our very vast, complicated and diverse financial ecosystem all of whom benefited greatly from the credit boom. Profligate government spenders were drunk on the tax dollars thinking it growth would go on forever. Their constituents of course had no problem accepting these huge transfer payments. Aren’t these 2 groups culpable?

Of course, let’s not forget the individual home owners and condo flippers who bought more house than they could afford. Who funded these loans? The depositors! And who ultimately backs the depositors? The US tax payers. Why don’t we equally vilify and label those bad actors who got a free ride as ‘gamblers with tax payer money? Where is the outrage there?

Banks made mistakes. So did a lot of groups. That is why the arguments levied against them have been: egregiously one-sided, grossly oversimplified, often lacking a basis in financial reality, and mostly unproductive. The financial services industry is one of the great economic engines of this nation, one that generates hundreds of billions in taxes and creates millions of high paying jobs. To tear it down for political expediency is in no one’s best interest.

Gerry Mihalick, CFA is a portfolio manager at Berkshire Asset Management, LLC located in Wilkes-Barre, PA. Please send your own comments or views to Gerry at gmihalick@berkshiream.com 570 825 2600

*Source, JP Morgan Financials,investor.shareholder.com/jpmorganchase/sec.cfm Baseline, estimates

Disclosure: I am long JPM.

Additional disclosure: Long JPM, financial related companies.

Follow me on Twitter

http://twitter.com/gmihalickberkam

The Wilkes-Barre Victory Campaign Office is Up and Running!!

The office is located on South Main St. in Wilkes-Barre

in the store front of the Provincial Towers Building

This office will be one of the main areas of Republican Volunteer activity in NEPA!!

The work done from this office will help to make sure that Pennsylvania goes Republican in the Presidential election this fall and that Barack Obama is a one term Proposition!!

We can use your help in making this office a comfortable and effective place to get work done.

While the space is beautiful and in a great location we can use donations to make it more accomodating to Volunteers.

If you are able to spare any of the following items (or anything you think might be helpful in the office) please contact Cody Harbaugh at (570)899-0181

Tables – Chairs

Microwave – Mini Fridge

Garbage cans – Coffee Maker

Extension Cords

Office Supplies

All donations will be returned promptly

following the election in November

Contact:

Cody Harbaugh

(570) 899-0181

CHarbaugh@pagop.org

THANK YOU!!!

 For immediate release.

Contact: Terry Casey

(570)855-3392

WILKES BARRE, PA – The election of Steven Smith to the Republican Committee of Luzerne County (LCRC) has received media coverage in the last few days.  We are grateful to the Anti-Defamation League and other media outlets for bringing to our attention the racially charged and disturbing background of this man from Pittston.  We unequivocally denounce Mr. Smith and his abhorrent views and would like to make it clear that in no way do his personal views reflect the views of the Republican Party.

Mr. Smith was elected as one of two Republican Committeemen from Pittston City Ward 4.  He was elected with only one write-in vote – a vote that was most likely his own.  The other two write-in votes cast in this ward went to Mr. George Carmean, a long-time committee member of the LCRC. 

Pennsylvania State election code allows any registered Republican or Democrat to write their name in to become a member of the County Committee.  The Bylaws of the Luzerne County Republican Committee indicate that the only qualification for election to the County Committee be that one has been a registered Republican for the two years preceding their election.  There is no other eligibility requirement in this regard.  Also, there is no express provision in the bylaws of the LCRC that would authorize the Executive Committee or the District Committee to “expel” a member of the Committee for his or her “beliefs.”  

The Luzerne County Republican Committee does not endorse or represent any of the hateful views of Mr. Smith, nor did any of the voters in Pittston City or Luzerne County.  The efforts of the Pennsylvania Democratic Party and its affiliated media organizations to portray anything otherwise are incredibly disingenuous, shameful, and insulting to all residents of Luzerne County.  Their efforts, however, are indicative of the underhandedness in which they are willing to engage to advance their hypocrisy and political aims.

Mr. Smith elected himself to the LCRC with one vote. For media outlets like “Think Progress” or others to suggest that the people of Pittston, let alone the voters of Luzerne County, support this man in any significant number is shameful and insulting to all of the residents of Pittston and Northeast Pennsylvania, Democrat or Republican.  In an ill-researched post on ThinkProgress.org, Adam Peck wrote that, “Smith is also an active member of local Tea Party groups, a network that he used to gain support for his bid for the committee seat.”  This claim is blatantly false.  Smith has been banned from the NEPA Tea Party Facebook page and has not been welcome at their meetings.  Peck’s suggestion that Smith used the Tea Party network to gain support for his committee election would be laughable if this were not such a serious accusation.  This “story” is indicative of the underhanded, self-serving tactics used by the Pennsylvania Democratic Party and a happily complicit media, and illustrates the deep hypocrisy and lies they are willing to engage in for the basest political purposes.

The Republican Party has a long and proud history of supporting and promoting Civil Rights for all Americans and any racially intolerant views are unequivocally not welcome in the County, State or National Republican Parties.  The nation’s first abolitionists were Republicans, no one fought harder for the abolition of slavery than Republican President Abraham Lincoln, The first African-American to run for President was Republican Frederick Douglas, The Civil Rights Act of 1964 would not have been passed without the support of Republican Senators from the Northeast, Martin Luther King Jr. Day was made a National Holiday by Republican President Ronald Reagan.  The issue at this time, however, is not the Civil Rights credentials of the Republican Party. The issue at this time is the hypocrisy of the Pennsylvania Democratic Party.

We sincerely regret the efforts of the Pennsylvania Democratic Party to create a political football out of an issue that both Democrats and Republicans should be anxiously ready to agree upon. In fact, the Luzerne County Democratic Party has joined with the LCRC to denounce Mr. Smith and his involvement, stating that, “Steve Smith obviously does not represent the Luzerne County Republican Party in any way, shape, or form.” We applaud the efforts of the Luzerne County Democratic Committee to join us in not only denouncing Mr. Smith, but to return political discourse to focusing on key issues at hand, like creating jobs and fixing our economy.  We encourage the Pennsylvania Democratic Party to do the same.

The remaining 5 District Conventions have been scheduled and all of the newly elected Committee People have been notified.  The Luzerne County Republican Convention has not yet been scheduled, but will take place after the conclusion of the last District Convention.  The last District Convention will be held on Tuesday, June 12 – the County Convention will take place at some point after this date. To make sure there is no confusion as to the schedule of District Conventions the complete schedule of remaining District Convnentions can be found below, and on our Calendar Page – http://luzernegop.org/calendar

Reminder:  The date for the County Convention has not yet been scheduled but will be held at some point after the 4^th District Convention.  All Committee Members will receive appropriate notification of the County Convention.

The Obama Campaign has already set up a Headquarters on S. Main St. in Wilkes-Barre where they will coordinate their campaign in NEPA.  They are organizing their volunteers and their grassroots machine is on the move right here in our hometown.

The time has come for all of us to do everything we can to make sure that Barack Obama is not re-elected this November.  For three and half years now we have heard that this election will be the most important and influential election of our lifetimes.  We all know that this election will decide the course our country takes for generations.  We will either return The United States of America to a responsible path based on limited government or allow Obama to continue spending us into oblivion until we are in a position far worse than Greece.

To make sure we do everything we can to defeat Barack Obama here at home we are beginning our Grassroots operation RIGHT NOW and we need your help to get the job done.

If you want to make sure that Barack Obama is not re-elected six months from now, and if you want to be a part of the most historic election our country has ever known, please get in touch with us and VOLUNTEER!!

We are holding phone banks THIS WEEK Wednesday and Thursday from 5:oopm-8:30pm to recruit as many volunteers as we can for the campaign this summer and fall.  The phone bank will be held at our Headquarters in Dallas – 1108 Memorial Highway – Dallas, PA 18612

If you want to make sure Barack Obama is defeated this November, and are able to spare some time this Wednesday or Thursday, or if you know someone who wants to be a part of the election, please get in touch with us at:

LCGOP@luzerneGOP.org

or

(570)266-2241

or sign up to volunteer on our website:

http://luzernegop.org/get-involved

We are all going to have to work together to make sure Obama is a one term proposition. Thank You!!