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Company's success was 'curious' to competitors
Houston Chronicle ^ | 4/21/06 | ROBERT CROWE

Posted on 04/21/2006 5:20:33 AM PDT by kinghorse

click here to read article


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To: Rte66

At the rate of 1,187 arrests per day, it would take 25.389205 years to arrest all 11 million illegal aliens now estimated to be in the country.

I predict the next arrest will orccur just prior to the ellection and will net about 500 illegal Mexican souls.

We will all be comforted by this, and we will continue to allow the politicians a pass, because the are "trying" and making "real progress."


21 posted on 04/21/2006 7:00:58 AM PDT by LachlanMinnesota
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To: kinghorse

bookmkPing , and thanks kinghorse


22 posted on 04/21/2006 7:01:07 AM PDT by Dad yer funny
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To: LachlanMinnesota
This is window dressing

Yep, wake me up when one of these executives is in jail. I'm setting my snooze alarm for 2008.

23 posted on 04/21/2006 7:23:28 AM PDT by jiggyboy (Ten percent of poll respondents are either lying or insane)
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To: kinghorse

This is a very complex organizational structure.
"HOUSTON--(BUSINESS WIRE)--March 21, 2006--Reusable Container Company LLC, a subsidiary of IFCO SYSTEMS, announced today that it has completed the purchase of certain assets of the Reusable Plastic Container (RPC) Services Business of CHEP USA. Details of the transaction were not disclosed."
http://uk.us.biz.yahoo.com/bw/060321/20060321005702.html?.v=1
Stupid pubbies. This is a German chartered company, based in the Netherlands, with Swiss and Austrian financing. The little LLC's (Limited Liability Corp's) are untouchable. It cost ICE more in freakin manpower and gasoline than will EVER get recovered in fines. Nobody will be indicted, let alone prosecuted. The American public has been P0WN3D, with the explicit knowledge and support of congress. Someone please prove me wrong with a link showing the names, titles, and specific charges from the indictments.


24 posted on 04/21/2006 7:37:25 AM PDT by ARealMothersSonForever (Political troglodyte with a partisan axe to grind)
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To: LachlanMinnesota

More like 50.778410 years, because it took one year to put *this* sting together. That sort of rules out anything before the 2006 elections, too. Breath-holding will only result in lots of blue people, heh heh.


25 posted on 04/21/2006 7:41:14 AM PDT by Rte66
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To: kinghorse

"Toronto (PRWEB) June 9, 2005 -- Paramount Pallet Inc. (“Paramount”) announced today that it has recently purchased six (6) pallet services facilities located in Alberta, Quebec, Ontario, Manitoba and British Columbia. These facilities were previously the Canadian Pallet Services Division of IFCO Systems N.V. (“IFCO”). The sale was official on June 3, 2005 and terms of the agreement were not disclosed."
http://www.emediawire.com/releases/2005/6/prweb248889.htm


26 posted on 04/21/2006 7:44:27 AM PDT by ARealMothersSonForever (Political troglodyte with a partisan axe to grind)
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To: BinaryBoy

The net proceeds from this offering are estimated to be approximately $177.0
million (after deducting underwriting discounts and other estimated costs). The
proceeds of this offering, together with the proceeds from the high yield debt
offering, will be used primarily to repay a substantial portion of the existing
indebtedness of the IFCO Companies and PalEx, to pay the merger consideration
to PalEx's stockholders, and to fund the other concurrent transactions. IFCO
Systems has summarized below the estimated sources and uses of funds, assuming
that the merger, this offering, the high yield debt offering, the other
concurrent transactions, and the debt repayments had occurred as of October 31,
1999. The actual sources and uses of proceeds will vary from those summarized
below, depending on the actual date of the closing and the exchange rate on
that date.


Amount



(in thousands)
Sources of Funds:
Senior subordinated notes(1)................................... $ 210,360
Proceeds from this offering(2)................................. 193,700


Total........................................................ $ 404,060


Uses of Funds:
Cash payment to PalEx stockholders(3).......................... $ 73,796
Repayment of PalEx debt and related party loans(4)............. 143,012
Repayment of IFCO Companies debt(5)............................ 75,350
Purchase remaining interest in IFCO U.S. and repayment of
debt(6)....................................................... 29,400
Payment to GE Capital(7)....................................... 23,095
Payment for participating rights and redeemable participating
rights(8)..................................................... 5,348
Fees and expenses(9)........................................... 36,692
Available proceeds to be used primarily for future working
capital and capital expenditure needs......................... 17,367


Total........................................................ $ 404,060


The fat has already been ridden off of this pig. It will be very interesting to see the names associated with the BoD in the US. Those names will be coming soon.
http://access.edgar-online.com/ipo/textSection.asp?cikid=71578&fnid=3256&IPO=1&sec=pr&coname=IFCO+SYSTEMS+NV&ticker=


27 posted on 04/21/2006 7:52:07 AM PDT by ARealMothersSonForever (Political troglodyte with a partisan axe to grind)
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To: Rte66
they said after the arrests, all of them went home.

I don't know about the executives. As far as the illegals arrested, the information I've found so far is about the arrests in Houston and New York.

April 20, 2006 - Dozens of illegal immigrants arrested, released in hours [Houston]
www.freerepublic.com/focus/f-news/1618305/posts

April 20, 2006 - IFCO worker speaks out after arrest [ICE Raid - New York]
www.freerepublic.com/focus/f-news/1618485/posts
As far as what happens next, the men said they're required to appear in a Buffalo courtroom in a few weeks.

28 posted on 04/21/2006 7:54:41 AM PDT by DumpsterDiver
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To: HiJinx

ping


29 posted on 04/21/2006 7:56:16 AM PDT by DumpsterDiver
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To: DumpsterDiver

Three new members elected to the Board of Directors of IFCO
Systems N.V.
Amsterdam, December 29, 2003 – The Extraordinary General Meeting of IFCO
Systems N.V. accepted today the resignation of the former Directors C, Mr. Jeremy
Brade, Mr. Antonius C.M. Heijmen and Mr. Richard J. Moon from the board under full
discharge with effect from December 29, 2003.
Mr. Michael Phillips, Mr. Ralf Gruss and Dr. Philipp Gusinde were elected as the new
Directors C to the Board of Directors of IFCO Systems N.V., effective immediately.
The Extraordinary General Meeting of IFCO Systems N.V. also adopted the 2002
Annual Accounts (the “Dutch 2002 Annual Accounts”) and discharged the members
of the Board of Directors for the fulfilment of their duties during the financial year
2002.
http://www.ifco-us.com/news/IFCO_IR_031229_Press_ThreeNewMembersElectedToTheBoardOfDirectorsOfIfcoSystemsNV_en.pdf


30 posted on 04/21/2006 8:00:46 AM PDT by ARealMothersSonForever (Political troglodyte with a partisan axe to grind)
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To: blu

"A typical worker might make $9 to $14 an hour, Brindley added. Though IFCO officials could not be reached for comment Thursday , the family of one Houston employee, an illegal immigrant, said he was making about 25 to 35 cents per pallet"

I'm sure you would do this job, if offered. However, as an employer, your $9-14 an hour in salary costs me $18-28 in order to provide you with benefits, pay social security taxes and retirement benefits, just to start. Let's not even consider just how much it costs just to convince the gov't that I'm in compliance with all the legal mumbo-jumbo (which in effect, makes me as employer an agent of the state -- reporting your income to the government, for example) that comes with employing you.

I don't want to see companies remain profitable or competetive by hiring illegal labor, but something also needs to be done with the crushing costs of benefits and such. There also needs to be a change of attitude in the American worker; there are no "jobs Americans won't do", only "jobs Americans wont do because they don't come with dental and a 401(k)".

The issue is not the pay scale; the issue is the benefits and the compliance costs.


31 posted on 04/21/2006 8:05:31 AM PDT by Wombat101 (Islam: Turning everything it touches to Shi'ite since 632 AD...)
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To: ARealMothersSonForever
Three new members elected to the Board of Directors of IFCO

I'm not sure I get the point of your post. Was it for informational purposes, or am I missing something?

32 posted on 04/21/2006 8:07:10 AM PDT by DumpsterDiver
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To: SwinneySwitch; HiJinx

ping


33 posted on 04/21/2006 8:08:24 AM PDT by Calpernia (Breederville.com)
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To: kinghorse

http://www.freerepublic.com/focus/f-news/1617489/posts?page=186#186

Excerpt:

ICE agents arrest seven managers of nationwide pallet company and 1,187 of the firm's illegal alien employees in 26 states
Roughly 53 percent of the firm's employees during 2005 had invalid / mismatched Social Security numbers


WASHINGTON, D.C. -- Homeland Security Secretary Michael Chertoff; Julie L. Myers, Assistant Secretary for U.S. Immigration and Customs Enforcement (ICE); and Glenn T. Suddaby, United States Attorney for the Northern District of New York, today announced the results of a nationwide worksite enforcement operation targeting IFCO Systems North America, Inc. ("IFCO"), the largest pallet services company in the United States headquartered in Houston, Texas.

Yesterday, ICE agents arrested seven current and former manages of IFCO pursuant to criminal complaints issued in the Northern District of New York. All these individuals are charged with conspiring to transport, harbor, and encourage and induce illegal aliens to reside in the United States for commercial advantage and private financial gain, in violation of Title 8, USC Section 1324 (a). The conspiracy charge carries a penalty of up to 10 years in prison and a fine of up to $250,000 for each alien with respect to whom the violation takes place. Two other IFCO employees were arrested on criminal charges relating to fraudulent documents.

In addition to the criminal arrests, ICE agents yesterday conducted "consent" searches or executed criminal search warrants at more than 40 IFCO plants and related locations in 26 states that resulted in the apprehension of approximately 1,187 illegal alien IFCO employees. Three of the criminal search warrants were executed at residences in Guilderland, NY, where IFCO was allegedly housing illegal alien employees.




More on Pallets:


http://www.freerepublic.com/focus/f-news/1614760/posts
ICE and CBP team up to seize 70 kilos of cocaine with a street value of more than $1 million

There were pictures at that thread of coccaine being hidden within pallets; but ICE just upgraded their site and I don't know where they moved the pictures to yet.


34 posted on 04/21/2006 8:10:43 AM PDT by Calpernia (Breederville.com)
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To: Cindy

bump


35 posted on 04/21/2006 8:10:58 AM PDT by Calpernia (Breederville.com)
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To: spintreebob
Those poor immigrant workers oppressed by capitalism are so oppressed that they are able to buy large homes in my middle class suburb.

Capitalism?

Is everyone else able to buy large homes in your middle class suburb because they don't pay taxes AND they get free medical care too?

36 posted on 04/21/2006 8:11:53 AM PDT by lewislynn (Fairtax = lies, hope, wishful thinking, conjecture and lies. (no it's not a mistake)
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To: ARealMothersSonForever

Ice Ice baby. We didn't have enough bureaucracy not enforcing laws on the books so we added another layer. Perfect. Was this created so the border patrol guys wouldn't loose face with the immigres they reluctantly have to grab.


37 posted on 04/21/2006 8:14:35 AM PDT by kinghorse
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To: Calpernia

Wonderful lesson here. When you pooh pooh one law, people very quickly cotton to the idea that you aren't much interested in other laws either.


38 posted on 04/21/2006 8:17:22 AM PDT by kinghorse
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To: jiggyboy

Here is a list of the Directors. They are all citizens of the UK. Good luck with all that.
Each director of Apax Europe Managers is a citizen of the United
Kingdom.

NAME TITLE PRINCIPAL OCCUPATION
---- -----




Ronald Mourad Cohen Director Chairman of Apax Europe Managers and Apax Partners
Holdings Ltd., a company organized under the laws of
England and its subsidiaries (the "Apax Group")
Paul Adrian Barlow Beecroft Director Director of Apax Europe Managers and the Apax Group
Peter David Englander Director Director of Apax Europe Managers and the Apax Group
Clive Richard Sherling Director Director of Apax Europe Managers and the Apax Group
John Phillips McMonigall Director Director of Apax Europe Managers and the Apax Group
Stephen Nathaniel Green Director Director of Apax Europe Managers and the Apax Group
Paul Fitzsimons Director Director of Apax Europe Managers and the Apax Group
Richard Charles Wilson Director Director of Apax Europe Managers and the Apax Group
David James Fitzgerald Director Director of Apax Europe Managers and the Apax Group
Stephen Grabiner Director Director of Apax Europe Managers and the Apax Group
http://www.secinfo.com/dsvRm.25sf.htm#1stPage


39 posted on 04/21/2006 8:17:36 AM PDT by ARealMothersSonForever (Political troglodyte with a partisan axe to grind)
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Furthermore it's easier to keep the illicit business on the down low when your employees are all law breakers to begin with. And don't speak Ingles.


40 posted on 04/21/2006 8:19:25 AM PDT by kinghorse
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