Makefile Help

I've been learning to program/debug via command prompt instructions and I'm now trying to set up a project structure where my source files are included in a /lib directory, and I dump my object files into an /obj directory.  I've modified my makefile to reflect this, however after doing a couple test runs ('make -n'), the only command that gets executed is the first one in the file (cmd to build make.o).  However if I type out the commands manually I can successfully generate an .elf file which is uploaded to my Launchpad.  Could somebody please take a look at my makefile?    For reference, I'm just using a template 'Blink the LEDs' example where I create a header/souce file combination for the delay() function.

For Reference, my laptop is a Lenovo T520 running 64-bit Lubuntu 13.04