Thomas J. Coyne
BBA, MBA, PH.D.
(FINANCIAL ECONOMIST)
WELCOME TO THE HOME PAGE OF
COYNE & ASSOCIATES, INC.
P. O. BOX 834, BATH, OHIO 44210, USA
tom@coyne-assoc.com
Government has gotten too strong. Government has forgotten right from wrong. Our government lacks dignity, discipline, and ethical behavior. There is no honesty in government, no honor, no integrity and, above all else truthfulness is badly lacking; yet, these are minimum standards of excellence necessary for a nation, its leaders, and its citizenry to foster and support if greatness is to be gained, and maintained. We are wrong to have allowed it! We have entrusted our affairs of state to the wrong people. We have allowed big business, big labor, big government, big churches, plus domestic and foreign monied interests, to buy and pay for life-long professional politicians, ones who work only to better themselves, ones who work only for more personal power and more personal money as they remain in office year after year, decade after decade, corrupting themselves and this once great nation. Many states within the United States (WV) have been run by the same political families and friends for ninety (90) of more years. We must stop it! These life-long professional politicians work only to empower themselves while not working for us. This governmental abuse of power and position runs rampant within our states and throughout our nation - and beyond. I am doing my part to stop it by attempting to take the U.S. Senate seat being vacated by Jay Rockefeller (D. WV) in the election of November 4, 2014: Tom Coyne (L. WV). Help me. Join me: (1) DO NOT reelect any U.S. House of Representatives person having 12 or more years in the House; (2) DO NOT reelect any U.S. Senate person having 12 or more years in the Senate; (3) DO NOT allow government bosses or your church or union or business or other "boss" however defined to continue to ruin this nation by telling you what to think, how to vote and for whom. Do not continue to ruin this country for yourself, your spouse, your children and your grandchildren. Please!
More about the USA's self-proclaimed 'Ruling Class'- in existence through conspiracy of Democrat Party/Republican Party financiers - will be published here shortly; meanwhile, Demand Freedom From Fear; Demand Freedom From Want; Demand Freedom to Speak Your Mind; Demand Freedom to Worship God; Demand Respect For God and God's Name; Practice Personal Responsibility, Integrity and Honesty; Promote Loyalty to Family and Friends. Throughout it all understand this fact: FREEDOM IS NOT FREE!
At Coyne and Associates, Inc.:
- Tom Coyne provides solutions to problems in financial management faced by chief executive officers/chief finance officers (CEO; CFO) in business, labor and/or government. Tom personally provides Individual one-on-one sessions. Confidentiality Agreements are signed as necessary. Tom serves as a highly personal and professional sounding board, the mentor/chief advisory board needed by each high-ranking person.
- Tom Coyne conducts Finance/Economic educational seminars at domestic and/or foreign locations, with precise time and location announced by e-mail to registered participants. Cost: As negotiated. Reservations are made by contacting Tom at P. O. Box 834, Bath, Ohio 44210
- See appointment_of_investment_adviso.htm. Money is managed for people and organizations. - we are recommending the hoarding of cash currently (2/24/2013).
- See
- See MEDIATION BY COYNE AND ASSOCIATES.htm. NOTE: Mediation is less costly and more effective long term than arbitration.
- See: Autobiographical%20Sketch.htm. This item is Tom Coyne's elongated resume.
How we do what we do: Thomas J. Coyne, is
dedicated to dignity, discipline, ethical behavior, honesty, honor, integrity
and, above all else, truthfulness, minimum standards of excellence necessary
for a nation, its leaders, and its citizenry to foster and support if greatness
is to be gained and maintained. No
nation is on top if its leaders are not.
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Market conditions currently (post 11/6/2012 elections) dictate taking your business firm private,
avoiding public financing and refusing to allow government employees who manage
government pensions to vote government held (not owned) common equity proxies and move
American companies to foreign shores. Using government mandated, government employee pension money (common equity), government employees are instructed by elected government persons to pursue the practice of
voting themselves, their families and political allies onto the boards of
directors of various corporations and/or place American business firms under government control (General Motors, Chrysler, CitiGroup, Bear Stearns, etc).
- RISKY BUSINESS. Investment in any publicly traded company is highly uncertain currently because the chief executive officer (CEO) of every publicly traded business in the USA may be replaced at any time. No union, no stockholder, no court, no government agency can prevent it as proxy voting is the assumed prerogative of the government stock holder, the commercial bank Trust Officer, the investment bank stock broker, not the employee stock owner, not the person taking 100% of the financial risk, not the person who does not get to decide which shares of equity to purchase (government pension plan managers make all buy, sell, hold decisions and vote all equity proxies)! When the new CEO of GM was appointed he boasted publicly of how he knew nothing at all about autos and the auto industry. This new government-appointed General Motors CEO was part and parcel of the socialist, planned, intentional destruction of the domestic American economy. In a democracy the majority does not rule; it never has. The best organized minority rules, always! Operating through government mandated pension plans for all government employees at the federal, state and local level, government has become a minority stock holder in every publicly-traded corporation/business.
- Government controls all meaningful corporate/business decisions - such as price and output determinations, and in what country other than the USA it will locate manufacturing; worse yet, government has formerly private corporations supporting anti-gun, anti-bullying (anti-homosexual), anti-profit, anti-tax cuts, anti-growth, anti-employment methods, plus pro-abortion, pro-illegal alien amnesty, pro-open borders schemes, in part, with a successful Propaganda Press campaign causing and encouraging the population-at-large to believe private enterprise supports a socialist government agenda. Each company in the USA operates to one extent or another under direction of government appointed persons serving on each company's Board of Directors. Socialist business policies and ruination of the USA is the goal and the result. Government does deceitful, deceptive and dishonest things through government mandated and government controlled pension operations, through unnecessary and costly license demands, through issuance or denial of government contracts- all of which must be supported by business and selected households if renewal of licensure and contracts are not to be denied in the future. Additionally, and importantly persons granted contracts and granted licenses, shall vote to retain/reelect Congressmen/Senators who support control by license or control by contract thereby making it impossible for anyone but sitting "Ruling Class" members of Congress (U.S. House and U.S. Senate) to gain and retain public office. This latter practice makes a total sham of democracy in the USA!
- With government managed pension plans and/or privately managed plans relying almost solely on this, that or the other mutual fund, each employee incurs all financial risk within
his/her retirement plan. to include the risk of stock prices rising or
falling and/or dividends being paid or not, but government employees or mutual fund managers, to include commercial bank and investment bank managed money, wrongly,
assume ownership control of each employee’s investment by wrongly voting common
equity proxies for themselves and in favor of their political friends. This
process is called fascism (socialism) and exists currently in the USA! Government employees in government mandated pension plans may not know what a
proxy vote is and they may know nothing of the value of their proxies and how their proxies are
voted by persons other than themselves, the owners. The proxy vote is THE most important part of an equity purchase. Our educational system has
failed to teach even this most basic of economics/finance truisms. Trust in Coyne alleviates this very serious problem!
- Tom is recommending the holding of cash for the duration of the current financial disaster. Collapse of financial markets since 2008, ruination of our real estate market, ruination of our bond market and our stock market has changed each market from being a risky investment to being an uncertain one; worse yet, contrary to Securities and Exchange Commission Rules and Regulations, the holders of common stock, not the owners of common stock continue to vote the stock proxies. Stock indices are high currently and stock traders stand to get rich, but each publicly-traded firm on any governmental whim may be totally government-controlled. The CEO (Chief Executive Officer) of every publicly traded firm remains subject to immediate replacement by his/her Board of Directors if (when) government pension plans decide to vote him/her out of office by voting equity proxies held by government pension plans against him/her as happened with General Motors, Chrysler, Bear Stearns, CitiGroup and others. The result: A fascist society in America - government control of formerly privately owned businesses. Common equity proxies are the most important element in stock ownership to every investor.
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EACH SENATOR (UNITED STATES OF AMERICA) MUST QUICKLY ADDRESS AND RESOLVE THE FOLLOWING ISSUES:
(1) Education, The Number One Problem in America: We spend and have spent many hundreds of billions of dollars on education; yet, our children do not measure-up to national and/or international standards. They cannot read, cannot write, and cannot count. When a person does not read and does not write s/he does not count! Every child in America has a right to count! We have paid to insure that right, but our money spent on education represents a major misallocation of resources, failing to produce expected/promised results. Worse yet, In Ohio, for example, the County Treasurer(s)/Fiscal Agent(s) ignores each of four rulings by the Ohio Supreme Court declaring current taxation of real estate for use in public school education unconstitutional. Government 'officials' (our employees) thereby: (A) show disrespect in the extreme for our Supreme Court; and, (B) Government 'officials' by self-exempting themselves from Supreme Court rulings tell 'common folks' that 'commoners' alone are required to abide by Court rulings. Government 'officials' who exceed the power and position of their office(s) in this manner are guilty of criminal offenses, by definition, and must resign or get impeached and be jailed; yet, Government-employed persons who self-exempt themselves from illegal behavior are allowed to continue in elected and appointed office. Northeast Ohio Cuyahoga County Commissioner Jimmy Dirmora is harshly confined (federal prison, West Virginia) for far less serious violations of trust than County Fiscal Agent(s) collection of real estate taxes in violation of Ohio Supreme Court rulings!
(2) An Amendment to the U.S. Constitution must be passed as follows: "No government or governmental unit shall impose a tax of any sort on the primary residential property of any citizen in the United States of America." Once a family pays his/her mortgage s/he owns the property outright! Privately owned residential houses DO NOT belong to government to tax as government sees fit! Currently ALL homeowners who live a normal lifespan pay more to government in real estate taxes than they paid for their houses.
(3) Massive financial grants in the hundreds of billions of dollars annually go from the United States of America to foreign governments. This kind of payment is a financial disaster and MUST be curtailed, eliminated entirely in many if not most instances. The hundreds of billions of dollars we grant and/or loan to Iraq, Iran, Israel, Libya, Saudi Arabia, Ireland, Germany, France and numerous nations MUST stop! Money saved by taking charge of our international grants, gifts and "loans" must be reallocated. Military forces and money spent to maintain our troops in Europe and Japan and Korea and elsewhere must be brought home and reallocated within our fifty states (50, not 57). We must take care of ourselves before we attempt to care for others throughout the world.
(4) A stock market index of 14,000+ is unsustainable. Recent growth in equity indexes is caused by two related events: (1) death of the bond market and related disastrous taxpayer financed bailout in connection with General Motors feigned bankruptcy which denied interest and principal bond payments to GM bondholders; and, (2) government employee pension fund(s) concentration on and therefore demand for equity purchases for the purpose of having government employees vote proxies in favor of selected government membership(s) on various Boards of Directors, thereby assuring business support of socialist government programs by seemingly privately owned publicly traded firms. This later practice is deceitful, deceptive and dishonest and known as "fascism;" yet, it worked well for more than a decade of turmoil for Benito Mussolini and Adolph Hitler, costing in excess of sixty million (60,000,000) innocent lives."NAZI" translated means "National Socialism." Hitler/Mussolini lost the battles but won the war?
(5) Abortion. Sixty million innocent lives are estimated to have been lost during World War II, mostly in Europe and the Far East. Innocent lives in greater number are being lost today in the USA. The largest percentage of children killed today are American Blacks. Unborn children are dying daily in the USA, eliminated by abortion. See fiftieths. Click here to learn of 55,000,000-60,0000,000 abortion deaths in the United States of America, 1973-2012. Planned Parenthood bought and paid for most of them with money provided by the USA's federal government.
(6) Second Amendment RIGHTS. Alleged "gun control" efforts by government persons is nothing more than additional efforts at "people control." Guns do not and have never killed people: People kill people! Al Gore cited Ruling Class plans: "We shall control everything that moves." Our Ruling Class, the Democrat Party and the Republican Party have joined hands and attempt to turn our Constitution of the United States of America, the greatest document ever reduced to writing, into nothingness. Our Ruling Class is allowing the United Nations to assume 'rights' granted only to Congress and only by our Constitution. Members of Congress are responsible only to We the People! We are in deep trouble and in this current struggle to be free again we need educated and dedicated Black Americans in particular to understand the magnitude of what the Ruling Class is doing to them, and to all persons of color and to whites. Meanwhile, our borders are NOT secure. Why not?
(7)Income Tax. Our multi-thousand page "tax code" must be rescinded, scrapped. In its place we must institute a tax law that says a flat percent of total receipts of every person shall be paid to run the government. This tax rate might be one percent (1%) or ten percent (10%) or some other percent BUT IT MUST (no exemptions) be paid by everyone: all households and businesses to include currently tax exempt firms/organizations; however, no citizen of the USA aged 80 or beyond and who has lived and worked in this country for most of his/her life shall pay any income tax whatsoever. S/he has paid and done enough! Short term EVERYONE ELSE MUST PAY INCOME TAX! Long term the USA can return to its roots, its history of about 175 years during which time NO income taxes were paid by any citizen.
(8) Health Care. Senator Ted Kennedy (D), Massachusetts, led the fight against creation of new medical schools. We NEED, WANT and DESIRE additional medial schools. Each person capable of being a physician (M.D.) and desirous of being a physician (M.D.) should be a physician! Supply and demand determines price and quantity of every service. When the supply of physicians increases to a level appropriate for demand for physicians, the price (cost) incurred per physician will seek and obtain equilibrium automatically. Interference by government into individual and personal medical decisions by federal, state or local 'officials' is harmful to medical care of quality. As with attempted gun control, the ObamaCare scam is designed only to control people! ObamaCare has nothing to do with improved health care. ObamaCare must not be allowed to succeed. Creation of new medical schools is the solution to health care costs in the long run; allowance for legal immigration of existing physicians (Cuba?) is the short run solution. It is really that simple; yet, government could play a useful role in medical care by limiting frivolous legal action(s).
(9) Language/Immigration. American ENGLISH must be declared the "official" language of the United States of America; after all, immigrants to this country MUST be able to communicate. Communication between and among citizens is vitally important.
(10) Monetary Policy/The Federal Reserve System. Americans have no idea how the economy works because they are taught nothing of our economy in school; thus, the Federal Reserve System can announce and, perhaps, be believed by an economic/finance deprived citizenship, wrongly, of course, that current policy of holding interest rates at or near zero and continuing to do so until unemployment reaches 6.5 percent is helpful to the aggregate economy. Nonsense! The interest rate is an incorrect variable to consider at this time. Concentration on the interest rate is outright wrong! The current Fed policy of pursuing and artificially enforcing low interest rate allows administrative appointed personnel to hide the real problem: the marginal efficiency of capital! Ben Bernanke claims employment will increase because of low interest rates when, in fact, aggregate employment NEVER increases solely because of a decrease in interest rates. If interest rates are 10% for example but the marginal efficiency of capital is 20%, businesses would fully support an interest rate of 10%! One of two things: (1) Bernanke knows and understands the marginal efficiency of capital quite well but chooses to ignore it, or (2) Bernanke has no clue concerning the marginal efficiency of capital. In either event current Fed policy under his direction is contributing mightily to the demise of the domestic American economy. We need at once a new Chairman of the Federal Reserve System! Our economy is a disaster and is being grossly mismanaged - and with the worst yet to come. Without Senate action concerning our Federal Reserve System it is difficult to judge the magnitude of our upcoming recession. We MUST control our monetary policy and our fiscal policy. Neither is being controlled currently.
The John Maynard Keynes Investment Multiplier. How a Current Tax Cut of $1.00 Results in a Change in Income of $4.00: Employment, Output and Income increase because of 'The Investment Multiplier'! Basic Facts:
- Gross National Product, GNP, is the summation of four components: Personal Consumption Expenditures; Gross Private Domestic Investment; Government Purchases of Goods and Services; and, Net Exports
- The impact on GNP is almost identical when Government spends as when Private Business invests;
- Private Investment comes from savings and while Government Spending could and should come from government savings government does not save. Government taxes and/or prints the money it wants! Regardless,
- Actual savings ALWAYS equals actual investment.
- Disposable Personal Income (DPI) results from employment, regardless of whether one works in private business or is on a government payroll.
- From DPI one can do only one of two things – spend money on goods and/or services or save money.
- If on average one spends ninety percent of what one earns (90%) s/he can save only 10% of his/her earnings.
- When 10% of DPI is saved; 10% of DPI is invested - always..
- With 10% of DPI invested employment, output and income (GNP) remains virtually unchanged for the aggregate economy. The economy does not change.
- Consumers tend to save a larger percent of any unexpected CHANGE in income than whatever they normally, on average, save.
- If government reduces taxes unexpectedly by $1.00 aggregate spending increases by $4.00 assuming, for example, consumers only consume 75% of this change in DPI; the balance, 25%, is saved. This change in savings is called ‘marginal propensity to save’ (MPS) by British economist John Maynard Keynes. (The change in consumption Keynes calls ‘marginal propensity to consume’). The Keynesian Investment Multiplier results.
- The Keynesian Investment Multiplier is calculated by taking the reciprocal of MPS.
- The reciprocal of any number is 1 divided by that number.
- 1.00 divided by 0.25 = 4.
- Income increases by $4.00 for every $1.00 of changed income due to this unexpected tax reduction.
- With $4.00 of new consumer spending employment, output and additional income results for the aggregate economy. GNP expands! New jobs are created. The number of new jobs is a function of the magnitude of the reduction, the change in taxation.
- New Investment and new employment becomes possible and are caused by the tax cut.
- It is really that simple; thus, if government reduces taxes by, say, $3 trillion, GNP would rise by $12 trillion in this example!
- Does this Investment Multiplier always work? Yes, which is precisely why stimulation of a dormant economy always results whenever and wherever taxes are reduced.
- What if government simply increased taxes and likewise spent the new money? Would an improved result occur? Would it be the same? No, because the new taxes would reduce DPI. Reduced Personal Consumption Expenditures would result and a broad-based recession/depression would be on its way. Always? Yes, always!
- The USA existed nicely for well over 100 years with NO income taxes; a legitimate USA could and should return to our tradition of no income taxes!
Books: The following books by Professor
Thomas J. Coyne, Ph.D., are available at www.amazon.com:
(1) The Coyne Report: October, 2011
(Revere Local Government Schools), General Readership, new, (ISBN:
9-781470-006433), 2012;
(2) License to Lie, fiction, new, (ISBN: 0-9633192-2-1), 2000;
(3) How to Take Charge of Yourself, Your Money, Your Government, college,
non-fiction, new, (ISBN: 0-9633182-1-3), 1999;
(4) Readings in Managerial Economics, Editions 1 through 5, (MBA), college, new, (ISBN:
0-9633192-0-5).
(5) Available through www.eBay.com and similar book outlets is Tom’s: Managerial Economics: Analysis and Cases, Fifth Edition, hard back (680 pages),college, used, (ISBN: 0-256-02698-X, 1984.
Biography: Financial economist Thomas Joseph Coyne is a native of Wheeling, West Virginia, a graduate of Central Catholic High School.
Thomas Joseph Coyne earned his Doctor of Philosophy (Ph.D.)
degree at Case Western Reserve University (Economics/Finance), his Master of
Business Administration degree (MBA) from Kent State University
(Management/Finance), his Bachelor of Business Administration degree (BBA) from
Marshall University (Accounting/Economics).
He completed his postgraduate work at the
As a full-time undergraduate student at Marshall University,
Dr. Coyne worked full-time as a brakeman on the Baltimore & Ohio Railroad,
graduating in three years time. He
worked full time as industrial credit manager for The B. F. Goodrich Company
while a graduate student at
Professor Coyne spent the bulk of his professional career teaching graduate and undergraduate courses (MBA) as a tenured full professor of finance and/or business economics at fully accredited (AACSB) universities. He has traveled extensively throughout Russia and Eastern Europe to include Latvia, Croatia, Western Europe, and the United States, lecturing and presenting papers in finance and economics. He has negotiated countless multi-million dollar contracts for scores of American Boards of Education, has created and served as executive director of several foundations in the United States and Europe. Coyne grew financial and real assets for one group from only eleven dollars to $6.0 million before leaving.
Tom has been an active member in his church, in church institutions, and has published at least ten books or monographs, plus about one hundred peer-reviewed articles to be found in many academic & professional journals. His Arbitration Awards are published. Many written contributions have appeared in newspapers and online. Coyne is an arbitrator and mediator, serving from the lists of the Federal Mediation and Conciliation Service. He completed the Indianapolis Mini-Marathon for Cancer Research (2002, 2003, 2004, 2005 & 2006), and had a weekly one hour 50,000 watt call-in talk radio show broadcast simultaneously in Cleveland, and Youngstown, Ohio. Tom is an honorably discharged U.S. Army combat infantry veteran, having served with L Company, 180th Infantry Regiment, 45th Infantry Division, Sandbag Castle, Korea, receiving the Korean Service Medal with 2 Bronze Service Stars, the United Nations Service Medal, the National Defense Service Medal, the Combat Infantry Badge (CIB), the Good Conduct Medal, a Letter of Appreciation signed by Kim Dae-jung, President of the Republic of Korea, and The President Syugman Rhee Memorial Association 60th Anniversary Korean War 1950-2010 Medallion.
Tom sought the U.S. Senate seat Ohio (I) being vacated by Howard Metzenbaum, 1994. (Howard Taft (R), Ohio Secretary of State denied Coyne placement the Coyne name on the ballot claiming inability to read 11,000 (approximately) properly prepared signed and printed petition signatures).
Tom sought the Office of Governor of West Virginia (I), 2004. Joseph A. Manchin (D), WV Secretary of State
refused to provide Coyne with appropriate petition forms subsequent to which in
Wheeling Federal District Judge Frederick P. Stamp, Jr. declared from his bench
WV violated previous Federal District Court orders requiring WV to provide
proper petition forms, that WV should have provided Coyne with proper petition
forms, but in his untimely written Award Stamp reversed himself and found in
favor of WV. U.S. Supreme Court Chief
Justice William Hubbs Rehnquist was at his residence outside Washington, D.C.
studying Coyne’s appeal of the Judge Stamp “award” the night Rehnquist
died subsequent to which Tom heard nothing further concerning his appeal.
Thomas Joseph Coyne, Ph.D., was formerly married to Patricia Anne Smith, R.N., of Huntington and together they proudly raised their five children, all of whom are college-educated and married. They are: Kathleen Anne Bergh (University of Akron), Karen Patricia Volpe (The Ohio State University), Kevin Thomas Coyne (The Ohio State University), Kenneth Joseph Coyne (University of Akron), and Thomas Joseph Coyne, III (John Carroll University), respectively. In addition, Tom and Pat have twelve grandchildren.
Professor Coyne maintains a home in Bath, Ohio, USA.
(2) A
29th Amendment to the U.S. Constitution should read: “No
government or governmental unit shall impose a tax of any sort on the primary
residential property of any citizen in the USA.” (T. Coyne,
(3) A
30th Amendment to the U.S. Constitution should read: “No
vote of the people is valid if it consists of less than fifty percent of those
persons eligible to vote.” (T.
Coyne,
(4) A
31st Amendment to the U. S. Constitution should read: “There
shall be no taxation without representation.”
(T. Coyne,