Saturday, December 27, 2008
What is the world coming to? Mexican lawmakers demand probe of beauty pagents
Friday, December 19, 2008
The hits just keep on coming...Minnesota recount slashes Coleman's 300+ vote lead to just 2 votes
Wall Street Journal's Auto Bailout factsheet
Here's what the Automakers MUST do:
Binding Terms and Conditions: The binding terms and conditions established by the Treasury will mirror those that were voted favorably by a majority of both Houses of Congress, including:
Firms must provide warrants for non-voting stock.
Firms must accept limits on executive compensation and eliminate perks such as corporate jets.
Debt owed to the government would be senior to other debts, to the extent permitted by law.
Firms must allow the government to examine their books and records.
Firms must report and the government has the power to block any large transactions (> $100 M).
Firms must comply with applicable Federal fuel efficiency and emissions requirements.
Firms must not issue new dividends while they owe government debt.
Here are the "targets" (read: stuff that sounds like a good idea, but the UAW wouldn't agree to it in the Senate version of the bailout, so you don't have to do it if you don't feel like it as long as you can come up with a good excuse, but we're trying to not look like total sell outs, so we're putting it into the verbiage):
Targets: The terms and conditions established by Treasury will include additional targets that were the subject of Congressional negotiations but did not come to a vote, including:
Reduce debts by 2/3 via a debt for equity exchange.
Make one-half of VEBA payments in the form of stock.
Eliminate the jobs bank.
Work rules that are competitive with transplant auto manufacturers by 12/31/09.
Wages that are competitive with those of transplant auto manufacturers by 12/31/09.
These terms and conditions would be non-binding in the sense that negotiations can deviate from the quantitative targets above, providing that the firm reports the reasons for these deviations and makes the business case to achieve long-term viability in spite of the deviations.
Spender-In-Chief defies the wishes of the taxpayers. US automakers lose their best chance to become competitive and profitable
-No reorganization
-No mandated end to paying UAW workers to sit and play cards
-No mandated deadline as to when UAW and executive concessions must take effect
-No oversight as to the use of the $13+ billion in taxpayer funds
-No built-in incentive to become leaner, sharper and smarter
-No guarantee that this won't all happen again just months from now - with (future) American taxpayers being $13 billion poorer
Thanks, George. I'm sure you would have done the same for any of us if we were hurting. Oh, wait. We are.
Thursday, December 18, 2008
Pope Benedict on Christmas during tough economic times
VATICAN CITY - The world economic crisis might mean fewer Christmas
presents, but Pope Benedict XVI says that tough times can give back simplicity
and solidarity to holiday celebrations. Benedict has expressed hope that the
financial crisis will help people focus on the spiritual meaning of Christmas,
when Christians worldwide mark the birth of Jesus.
Benedict says the crisis can help people to rediscover what he calls "the warmth, simplicity, friendship and solidarity" contained in authentic Christmas values.
The pope reflected on economic suffering during his traditional Wednesday audience with pilgrims and tourists at the Vatican.
Minnesota Canvassing Board could finish this week. Legal challenges are expected
One has to wonder, how did they determine who's challenged ballots would be evaluated first? Did they go though Franken's challenges first so they would know how many votes they would need to produce in order to swipe the seat? Hmmmm.
Tuesday, December 16, 2008
Minneapolis Star Tribune: Canvassing Board sorts through challenged ballots
How did the first 15-20 minutes go?
Of the first five challenges, the panel rejected three, restoring votes
that had originally gone to Coleman. It upheld two challenges, one adding a vote
to Franken and the other taking one away from Coleman.
Now they move on to the remaining 995 or so challenged ballots. It is now officially ugly.
Monday, December 15, 2008
Minnesota update: Coleman seeks delay of recount until rules are established
Undoubtedly, Al Franken, the alleged comedian, will break out the tired Democrat tactic of accusing Coleman of trying to "disenfranchise" Minnesota voters. Has it gotten ugly yet?
http://briefingroom.thehill.com/2008/12/15/coleman-asks-court-to-halt-recount-until-process-clear/
How can we really rev up the economy with the rest of that bailout money? A two-month complete federal tax holiday
Texas Representative Louie Gohmert has proposed legislation in which American workers will pay no federal personal income tax or FICA withholdings for January and February. According to Rep. Gohmert, this is a way to take the remaining $350 billion of the bailout package and put it in the hands of consumers.
I love the idea, and I am not the only one. This proposal is gaining support. Newt Gingrich, Congressman Mike Pence and recently a small business advocacy group, the National Federation of Independent Businesses have endorsed it.
Will this proposal get anywhere? Well, it seems like a great idea that would actually work, so probably not, but it will be interesting to see what happens.
The Minnesota recount enters the next phase tomorrow. Is this seat being Blagojeviched?
Power Line, a Minnesota-based blog written by attorneys who have been warily following the recount process, printed this update. Though Coleman holds a 200 vote lead at this point, they seem to suggest Franken seems to be getting the procedural breaks. I've said it all along. This is going to get ugly.
Here's the Power Line piece:
http://www.powerlineblog.com/archives/2008/12/022308.php
Friday, December 12, 2008
Here's what defeated the auto bailout: the Corker auto bailout amendment. The UAW would not agree to it
Sen. Bob Corker (R-Tennessee) has proposed an amendment to auto bailout legislation. Here is the text of the Corker auto bailout amendment.
The Corker Amendment requires the following in order to receive bailout financing:
-Reduce unsecured debt by 2/3 (does not include pensions and employee benefit obligations)
-Reduce compensation, including wages and benefits, to the average per person per hour of Nissan, Toyota, and Honda
-Ensure parity of work rules with those of Nissan, Toyota, and Honda
-At least 1/2 of payments to VEBA account must be in the form of stock, not cash
-Suspends continued payments to UAW Jobs Bank recipients
Thursday, December 11, 2008
FBI affidavit: Blago was offered $500,000-$1,000,000 by emissaries for Candidate # 5
According to the FBI affidavit in the case, emissaries for Senate Candidate 5 offered Blagojevich up to $1m for the Senate seat.
Describing the offer in an October 31 conversation recorded by the FBI, Blagojevich said: "We were approached 'pay to play'. That you know, he'd raise me 500 grand. An emissary came. Then the other guy would raise a million, if I made him [Senate Candidate 5] a senator."
Wednesday, December 10, 2008
Break out the popcorn. This Governor Blago saga is becoming increasingly entertaining
Representative Jessie Jackson, Jr. admits to being "Candidate number 5" (yes, break out the Lou Bega parodies) who was reported to be willing to raise $500,000 for Blago's campaign war chest:
http://www.breitbart.com/article.php?id=D9502QS83&show_article=1
Deputy Governor Bob Greenlee, who is rumored to be "Candidate number 4" has resigned for unknown reasons (probably just wants to spend more time with the family):
http://www.breitbart.com/article.php?id=D9501J480&show_article=1
It's gonna be fun to watch.
Tuesday, December 9, 2008
ABC's Brian Ross: Recap of the Blago corruption arrest
Senate seat for sale? Illinois Governor Blago taken into custody
Feds: Blagojevich saw Obama's vacated job as a "valuable thing"
DECEMBER 9--The criminal complaint filed today against Illinois Governor Rod Blagojevich contains a remarkable section detailing the Democratic politician's alleged attempt to cash in on his ability to fill the U.S. Senate seat vacated by President-elect Barack Obama.
Heritage Foundation: Don't tax the masses to pay lofty wages for the few
UAW spokespeople have roundly condemned the estimate of labor costs in
excess of $70 per current worker hour. They assert these figures include the
cost of current retiree pension and health benefits. They have done so, however,
without marshalling evidence to support their case.
The Detroit automakers
explain in their SEC filings that their benefit expenses are for current
workers, not former employees. This is because they follow generally accepted
accounting principles in preparing these estimates. If the figures did include
current retiree benefits, the average hourly amount would be much higher than
they actually report. UAW employees earn far more than most Americans do.
Congress should not tax all Americans to bailout the Detroit automakers in order
to preserve high earnings for a few.
Monday, December 8, 2008
One less (alleged) crook in Congress. Joseph Cao defeats indicted Dem incumbent in LA
Friday, December 5, 2008
Minneapolis Star-Tribune: Recounting is done-now on to the challenged ballots
Focus now moves to the nearly 6,700 challenged ballots as they are scrutinized beginning December 16.
http://www.startribune.com/politics/state/35607614.html?elr=KArksLckD8EQDUoaEyqyP4O:DW3ckUiD3aPc:_Yyc:aULPQL7PQLanchO7DiUs
"Terrorist-like" figurine causes outrage. Legos are a toy of peace!
Thursday, December 4, 2008
Minnesota recount ends tomorrow. Will Franken accept the outcome with grace?
http://corner.nationalreview.com/post/?q=NTY0MjgwYmVlZjE3YzMzZDFlMTAzMDk0ZmIyOTI4OWQ=
The mandatory recount has proceeded by hand throughout Minnesota on a precinct-by-precinct basis in a mostly orderly fashion for the past three weeks, with results reported each day to the Minnesota Secretary of State’s office. The recount will come to an end tomorrow, with some 6,000 challenged ballots – roughly half challenged by each side — to be considered by the five-member canvassing board called under state law to preside over the recount.
According to news organizations comparing the reported recount results to the originally certified tally, as of last night Coleman’s margin over Franken had expanded to 316 votes (excluding the approximately 6,000 challenged ballots).
...Franken isn’t talking or acting like a winner. As I wrote on Power Line this week, I conclude that Franken anticipates losing the recount. Franken has already resorted to litigation over rejected absentee ballots and threatened further litigation over the rejection of certain absentee ballots. He has met with Senate Majority Leader Harry Reid on the subject and won Reid’s expression of concern implicitly raising the threat that the Senate Democratic majority may overturn the result reached in Minnesota if the rejected absentee ballots in issue aren’t counted. Al Franken hasn’t been funny in a very long time, but that is really unfunny.
Wednesday, December 3, 2008
Politico: Jeb considering 2010 Senate run
Younger (and considerably more conservative) Bush brother, Jeb Bush, is considering running for the Florida Senate seat being vacated by Republican Mel Martinez. Martinez announced earlier this week that he would not be seeking reelection when his term is up in 2010.
Jeb, of course, is the former Governor of Florida and still enjoys considerable popularity throughout the state.
Saxby saves the Senate. No Dem super-majority in the upper chamber
Tuesday, December 2, 2008
Top 10 clues your cruise ship has been taken over by pirates
Top 10 clues your cruise ship has been taken over by pirates.
10. Isaac the Bartender begins wearing a puffy shirt behind the bar.
9. Formal dinner at the Captain’s table is black eye patch only.
8. For days after the cruise is over you can’t get that “Yo ho yo ho, a pirate’s life for me” song out of your head.
7. Optional on-shore excursions include rummaging, pillaging and setting fire to port buildings.
6. The room service menu includes cannonballs and gun powder.
5. Morning step aerobics is held on a dead man’s chest.
4. Snorkeling activities begin every afternoon at the plank.
3. The on board beauty salon offers five different styles of dreadlocks and beard braiding.
2. Strawberry margaritas are served with mini Jolly Roger flags instead of paper umbrellas.
1. You begin developing parrot-shaped tan lines on your shoulder.
Big 3 automakers return. UAW "considers" reopening contracts
http://detnews.com/apps/pbcs.dll/article?AID=/20081202/AUTO01/812020357
The Bloated 3 return to Congress with hats and business plans in hand seeking more than the $25 billion in tax dollars they were awarded this fall. In the spirit of generosity and cooperation, the UAW offers to "consider reopening contracts." Unconfirmed reports claim the existence of a double secret union meeting in which they will consider what they call "givebacks" or "concessions." How gracious. According to the Detroit News:
A person familiar with one automaker's plan said a variety of topics are being
explored. Key issues include reopening the contract, eliminating the
controversial jobs bank that still pays workers even when they are laid off, and
how much and how quickly the automakers will contribute to a trust fund to be
run by the UAW that will take over responsibility for retiree health care
beginning in 2010. The health care trust was a key part of the landmark
contracts negotiated last year.
Unless you're aboard a pirate-commandeered cruise ship, you've heard the latest pro-auto bailout argument: "This is just a loan. It will all be paid back. Remember when Chrysler did it?" Well, here's this tidbit, again from the Detroit News:
All three companies' plans will disclose how much cash they have on hand and how much they need in the short term to survive. Chrysler said it had burned
through $5 billion in the first nine months of the year, and was down to $6.1 billion as of Sept. 30. GM lost more than $20 billion in the first nine months
of the year and burned through $6.9 billion in the third quarter. Ford ran
through $7.7 billion in the third quarter.
With that kind of financial track record, would you be granted a loan from your neighborhood bank branch?
Monday, December 1, 2008
Palin campaigns for Chambliss in GA runoff
Rumormill bombshell: Senator Slick Willie from the great state of New York?
Rumors are fun -- especially political rumors. Here's a new one gaining some strength: Senator Bill Clinton.