Illinois lawmakers need to reform pensions - chicagotribune.com
"We have to repair public pension systems in order to preserve them for public employees — of Illinois, of Chicago, of Cook County, of school districts statewide."
Friday, May 27, 2011
The truth behind Chrysler’s fake auto bailout pay back
The truth behind Chrysler’s fake auto bailout pay back Conn Carroll Beltway Confidential Washington Examiner
"But as The Truth About Cars reports, the loan pay back is just another Obama con job:
Back in November of 2009, when GM announced that it would repay its government loans, it didn’t take much investigation to realize that The General was simply shuffling government money from one pocket to the other and that true “payback” was still a ways off. …
And now that our government finds itself “contemplating a runaway deficit and getting rid of its 8 percent of Chrysler’s equity,” would you believe that a similar federal money-shuffle is under way?
Believe it.
American taxpayers have already spent more than $13 billion bailing out Chrysler.
The Obama administration already forgave more than $4 billion of that debt when the company filed for bankruptcy in 2009.
Taxpayers are never getting that money back.
But how is Chrysler now paying off the rest of the $7.6 billion they owe the Treasury Department?"
"But as The Truth About Cars reports, the loan pay back is just another Obama con job:
Back in November of 2009, when GM announced that it would repay its government loans, it didn’t take much investigation to realize that The General was simply shuffling government money from one pocket to the other and that true “payback” was still a ways off. …
And now that our government finds itself “contemplating a runaway deficit and getting rid of its 8 percent of Chrysler’s equity,” would you believe that a similar federal money-shuffle is under way?
Believe it.
American taxpayers have already spent more than $13 billion bailing out Chrysler.
The Obama administration already forgave more than $4 billion of that debt when the company filed for bankruptcy in 2009.
Taxpayers are never getting that money back.
But how is Chrysler now paying off the rest of the $7.6 billion they owe the Treasury Department?"
Fat City |Thank you, Illinois taxpayers, for my cushy life.
Fat City- Thank you, Illinois taxpayers, for my cushy life.
"After 34 years of teaching sociology at the University of Illinois at Chicago, I recently retired at age 64 at 80 percent of my pay for life."
This calculation was based on a salary spiked by summer teaching, and since I no longer pay into the retirement fund, I now receive significantly more than when I “worked.”
But that’s not all:
There’s a generous health insurance plan, a guaranteed 3 percent annual cost of living increase, and a few other perquisites.
Having overinvested in my retirement annuity, I received a fat refund and—when it rains, it pours—another for unused sick leave.
I was also offered the opportunity to teach as an emeritus for three years, receiving $8,000 per course, double the pay for adjuncts, which works out to over $200 an hour.
Another going-away present was summer pay, one ninth of my salary, with no teaching obligation.
I haven’t done the math but I suspect that, given a normal life span, these benefits nearly doubled my salary. And in Illinois these benefits are constitutionally guaranteed, up there with freedom of religion and speech.
Why do I put “worked” in quotation marks? Because my main task as a university professor was self-cultivation: reading and writing about topics that interested me. Maybe this counts as work. But here I am today—like many of my retired colleagues—doing pretty much what I have done since the day I began graduate school, albeit with less intensity.
Before retiring, I carried a teaching load of two courses per semester: six hours of lecture a week.
I usually scheduled classes on Tuesdays and Thursdays:
The rest of the week was mine.
Colleagues who pursued grants taught less, some rarely seeing a classroom.
The gaps this left in the department’s course offerings were filled by adjuncts, hired with little scrutiny and subject to little supervision, and paid little.
Sadly, there is more.
Click the link above to read it all.
"After 34 years of teaching sociology at the University of Illinois at Chicago, I recently retired at age 64 at 80 percent of my pay for life."
This calculation was based on a salary spiked by summer teaching, and since I no longer pay into the retirement fund, I now receive significantly more than when I “worked.”
But that’s not all:
There’s a generous health insurance plan, a guaranteed 3 percent annual cost of living increase, and a few other perquisites.
Having overinvested in my retirement annuity, I received a fat refund and—when it rains, it pours—another for unused sick leave.
I was also offered the opportunity to teach as an emeritus for three years, receiving $8,000 per course, double the pay for adjuncts, which works out to over $200 an hour.
Another going-away present was summer pay, one ninth of my salary, with no teaching obligation.
I haven’t done the math but I suspect that, given a normal life span, these benefits nearly doubled my salary. And in Illinois these benefits are constitutionally guaranteed, up there with freedom of religion and speech.
Why do I put “worked” in quotation marks? Because my main task as a university professor was self-cultivation: reading and writing about topics that interested me. Maybe this counts as work. But here I am today—like many of my retired colleagues—doing pretty much what I have done since the day I began graduate school, albeit with less intensity.
Before retiring, I carried a teaching load of two courses per semester: six hours of lecture a week.
I usually scheduled classes on Tuesdays and Thursdays:
The rest of the week was mine.
Colleagues who pursued grants taught less, some rarely seeing a classroom.
The gaps this left in the department’s course offerings were filled by adjuncts, hired with little scrutiny and subject to little supervision, and paid little.
Sadly, there is more.
Click the link above to read it all.
Shake-up in the works for Detroit Public Library
Wayne County Shake-up in the works for Detroit Public Library The Detroit News
"The Detroit Public Library Commission is moving to oust a top executive who helped lead its troubled $2.3 million South Wing expansion.
Members voted Tuesday to enter into talks to buy out Deputy Director Juliet Machie's contract because an investigation found irregularities related to the expansion's contracts, according to a source with knowledge of the decision.
Machie's contract specifies she can't be fired unless she is paid a year's salary.
Machie, who makes $145,000 a year, helped lead the South Wing expansion project between 2007 and much of 2009.
The project began as a $300,000 furniture update and morphed into a larger renovation ($2.3 million), including new floors, study rooms, lighting and built-in wood-frame bookshelves"
This is how democrats react when all the money is gone!
"The Detroit Public Library Commission is moving to oust a top executive who helped lead its troubled $2.3 million South Wing expansion.
Members voted Tuesday to enter into talks to buy out Deputy Director Juliet Machie's contract because an investigation found irregularities related to the expansion's contracts, according to a source with knowledge of the decision.
Machie's contract specifies she can't be fired unless she is paid a year's salary.
Machie, who makes $145,000 a year, helped lead the South Wing expansion project between 2007 and much of 2009.
The project began as a $300,000 furniture update and morphed into a larger renovation ($2.3 million), including new floors, study rooms, lighting and built-in wood-frame bookshelves"
This is how democrats react when all the money is gone!
Muskegon County board reinstates contribution to Muskegon Heights festival, but at a reduced figure
Muskegon County board reinstates contribution to Muskegon Heights festival, but at a reduced figure MLive.com
"The vote Tuesday was 6-5 with Commissioners Scott Plummer, Rillastine Wilkins, Lew Collins, Ben Cross, Anthony Longmire and Ken Mahoney voting yes.
The no votes came from Commissioners Bob Scolnik, John Snider, Jim Derezinski, Marvin Engle and Alan Jager.
Wilkins, who represents Muskegon Heights on the county board, said the city's festival depends on the county's contribution based on previous years.
“It's kind of sad to cut it off right now when all the plans have gone in for this year's event,” Wilkins said.
Longmire called it “borderline hypocrisy” to deny the Muskegon Heights festival request while granting a contribution to the pageant.
Snider said he believes the accommodations tax should be used for the benefit of the entire county.
“It is not a function of county government to be charitable,” Snider said, adding that he sympathizes for the festival this close to the event.
The county board considered several options during the meeting. Motions were made for different financial amounts, private donations were offered and a suggestion was made that the Community Foundation For Muskegon County should be approached about helping to fund the festival this year."
"The vote Tuesday was 6-5 with Commissioners Scott Plummer, Rillastine Wilkins, Lew Collins, Ben Cross, Anthony Longmire and Ken Mahoney voting yes.
The no votes came from Commissioners Bob Scolnik, John Snider, Jim Derezinski, Marvin Engle and Alan Jager.
Wilkins, who represents Muskegon Heights on the county board, said the city's festival depends on the county's contribution based on previous years.
“It's kind of sad to cut it off right now when all the plans have gone in for this year's event,” Wilkins said.
Longmire called it “borderline hypocrisy” to deny the Muskegon Heights festival request while granting a contribution to the pageant.
Snider said he believes the accommodations tax should be used for the benefit of the entire county.
“It is not a function of county government to be charitable,” Snider said, adding that he sympathizes for the festival this close to the event.
The county board considered several options during the meeting. Motions were made for different financial amounts, private donations were offered and a suggestion was made that the Community Foundation For Muskegon County should be approached about helping to fund the festival this year."
Labor-environmental alliance calls for more 'green' chemical manufacturing, jobs
Labor-environmental alliance calls for more 'green' chemical manufacturing, jobs MLive.com
"The Bluegreen Alliance was formed in 2006 mainly between labor unions and environmental groups.
....Worker safety, he said, is a big part of the group's thrust.
So is new employment.
Among the study's more surprising findings is that if 20 percent of current production nationwide were switched from petrochemical-based plastics to bio-based plastics, 104,000 additional jobs would be created in the U.S. economy."
So this is the new alliance that will bring in new jobs, the business hating eco-nuts and the business destroying unions.
And their study "proves" going eco-nutty creates 104,000 new jobs.....producing the same amount of product.
Econo-ignorance is a disease?
"The Bluegreen Alliance was formed in 2006 mainly between labor unions and environmental groups.
....Worker safety, he said, is a big part of the group's thrust.
So is new employment.
Among the study's more surprising findings is that if 20 percent of current production nationwide were switched from petrochemical-based plastics to bio-based plastics, 104,000 additional jobs would be created in the U.S. economy."
So this is the new alliance that will bring in new jobs, the business hating eco-nuts and the business destroying unions.
And their study "proves" going eco-nutty creates 104,000 new jobs.....producing the same amount of product.
Econo-ignorance is a disease?
Stock futures mixed after dim jobs, growth reports
Stock futures mixed after dim jobs, growth reports - FoxNews.com
"The Labor Department said more people applied for unemployment benefits last week, the first increase in three weeks.
The number of people seeking benefits rose by 10,000 to 424,000, more than analysts were expecting."
These guys are always surprised.
Why does anyone ever listen to them?
Oh.....I get it.....
"The Labor Department said more people applied for unemployment benefits last week, the first increase in three weeks.
The number of people seeking benefits rose by 10,000 to 424,000, more than analysts were expecting."
These guys are always surprised.
Why does anyone ever listen to them?
Oh.....I get it.....
Thursday, May 26, 2011
I find toast-botch too painful to mock.
Althouse: I find toast-botch too painful to mock.
"What if you gave a toast and nobody raised their glass with you"
"What if you gave a toast and nobody raised their glass with you"
Stage Doors and Broken Windows
Stage Doors and Broken Windows [Michigan Capitol Confidential]
"The News apparently brought in actors for a roundtable discussion and they expressed “dismay” that Gov. Rick Snyder would actually cap the previously unlimited film subsidies at only $25 million."
We're STILL giving out $25 MILLION?
Meebee that's where this http://www.mlive.com/business/west-michigan/index.ssf/2011/05/muskegon_movie-studios_develop.html
is coming from.
Read the top article to see the destructive nature of these freebies.
"The News apparently brought in actors for a roundtable discussion and they expressed “dismay” that Gov. Rick Snyder would actually cap the previously unlimited film subsidies at only $25 million."
We're STILL giving out $25 MILLION?
Meebee that's where this http://www.mlive.com/business/west-michigan/index.ssf/2011/05/muskegon_movie-studios_develop.html
is coming from.
Read the top article to see the destructive nature of these freebies.
Muskegon County-Board
Muskegon County-Board
Excellent new Facebook site uncovering the disaster that is the Muskegon county commission.
Excellent new Facebook site uncovering the disaster that is the Muskegon county commission.
EPISTEMIC CLOSURE in France. “According to a poll, 57% of the French public and 70% of French Socia…
Instapundit » Blog Archive » EPISTEMIC CLOSURE in France.
“According to a poll, 57% of the French public and 70% of French Socialists believe that Dominique Strauss-Kahn (DSK) was the victim of a set-up (I couldn’t find a gender split on the numbers).
The French have an admirably long history of political intrigue.
Yet, it seems a bit rich for Socialists to overwhelmingly take the side of the wealthy powerful politician with a history of sexual abuse allegations against what appear to be quite credible allegations of a poor Guinean refugee.”
Actually I’d say it’s fairly typical.
The more they talk about equality, the more they implement aristocracy.
Posted by Glenn Reynolds at 10:27 am"
“According to a poll, 57% of the French public and 70% of French Socialists believe that Dominique Strauss-Kahn (DSK) was the victim of a set-up (I couldn’t find a gender split on the numbers).
The French have an admirably long history of political intrigue.
Yet, it seems a bit rich for Socialists to overwhelmingly take the side of the wealthy powerful politician with a history of sexual abuse allegations against what appear to be quite credible allegations of a poor Guinean refugee.”
Actually I’d say it’s fairly typical.
The more they talk about equality, the more they implement aristocracy.
Posted by Glenn Reynolds at 10:27 am"
Racism to blame for Obama's problems, key Democrat says
Racism to blame for Obama's problems, key Democrat says McClatchy
"House Assistant Democratic Leader Jim Clyburn, the highest-ranking African-American in Congress, on Wednesday blamed most of President Barack Obama's political problems on racism."
Many republicans and independents voted for Obama.
Obama is the victim of racism because he's President.
Ergo: republicans and independents are racist.
Right?
"House Assistant Democratic Leader Jim Clyburn, the highest-ranking African-American in Congress, on Wednesday blamed most of President Barack Obama's political problems on racism."
Many republicans and independents voted for Obama.
Obama is the victim of racism because he's President.
Ergo: republicans and independents are racist.
Right?
Oil Industry Profit Margin Ranks #114 out 215
CARPE DIEM: Oil Industry Profit Margin Ranks #114 out 215
"As the table below shows, the Integrated Oil and Gas industry made an average profit of 6.2 cents per dollar of sales, which ranks #114 out of 215 industries by profit margin, and puts oil companies right in the middle of industries by profitability.
If the Senate Finance Committee wants to investigate 'excessive' or 'windfall' profits, they might consider going after some of the other industries that have benefited from higher commodity prices and achieved much higher profit margins than oil (at 6.2%), like silver (44.7%), copper (24%), gold (21%), and industrial metals (21%) and lumber (17.7%)."
"As the table below shows, the Integrated Oil and Gas industry made an average profit of 6.2 cents per dollar of sales, which ranks #114 out of 215 industries by profit margin, and puts oil companies right in the middle of industries by profitability.
If the Senate Finance Committee wants to investigate 'excessive' or 'windfall' profits, they might consider going after some of the other industries that have benefited from higher commodity prices and achieved much higher profit margins than oil (at 6.2%), like silver (44.7%), copper (24%), gold (21%), and industrial metals (21%) and lumber (17.7%)."
Why solar energy panel company is cutting jobs in Greenville, opening plant in Canada
Why solar energy panel company is cutting jobs in Greenville, opening plant in Canada MLive.com
"This week, the company celebrated the opening of a $12 million plant in Canada that will be subsidized by the government."
"This week, the company celebrated the opening of a $12 million plant in Canada that will be subsidized by the government."
Wednesday, May 25, 2011
EPA Administrator Confirms: No fracking water contamination
EPA Administrator Confirms: No fracking water contamination « Hot Air
"At a U.S. House Oversight Committee hearing yesterday, President Barack Obama’s EPA administrator, Lisa Jackson, admitted the environmental risk of hydraulic fracturing is practically nonexistent.
“I’m not aware of any proven case where the fracking process itself has affected water, although there are investigations ongoing,” she said."
"At a U.S. House Oversight Committee hearing yesterday, President Barack Obama’s EPA administrator, Lisa Jackson, admitted the environmental risk of hydraulic fracturing is practically nonexistent.
“I’m not aware of any proven case where the fracking process itself has affected water, although there are investigations ongoing,” she said."
A REPORT FROM inside the Higher Education Bubble.
Instapundit » Blog Archive » A REPORT FROM inside the Higher Education Bubble. “Perhaps most troubling to me, as an adjunct hist…: "UPDATE: A reader emails:
I’ve been following your Higher Education Bubble posts with some interest.
I happen to work for a Midwest based company that specializes in outsourcing plant maintenance.
It’s a growth industry because so many of current manufacturing maintenance employees are in the late 50’s, and there is a great dearth of qualified folks to replace them.
We recruit heavily from the military because it’s one of the last best places that produce motivated, experienced, and qualified technicians.
That kid with a French Lit. degree flipping burgers would have done better to have gone to tech school, community college or the Big Green Machine and learned how to maintain electrical or hydraulic equipment.
They’d be earning 40-50K within a year or two and they most certainly wouldn’t have a problem finding a job.
I’m not overly worried… the Market will provide.
I just know that when my son comes of age, unless he’s going into IT or engineering, it’s the local community college or the military for his education."
I’ve been following your Higher Education Bubble posts with some interest.
I happen to work for a Midwest based company that specializes in outsourcing plant maintenance.
It’s a growth industry because so many of current manufacturing maintenance employees are in the late 50’s, and there is a great dearth of qualified folks to replace them.
We recruit heavily from the military because it’s one of the last best places that produce motivated, experienced, and qualified technicians.
That kid with a French Lit. degree flipping burgers would have done better to have gone to tech school, community college or the Big Green Machine and learned how to maintain electrical or hydraulic equipment.
They’d be earning 40-50K within a year or two and they most certainly wouldn’t have a problem finding a job.
I’m not overly worried… the Market will provide.
I just know that when my son comes of age, unless he’s going into IT or engineering, it’s the local community college or the military for his education."
‘My House Was Placed in a Union!’
‘My House Was Placed in a Union!’ [Michigan Capitol Confidential]
"An estimated $8 million in union dues per year are taken from these two groups and handed over to state government employee unions run by the United Auto Workers, AFSCME and the Service Employees International Union."
"An estimated $8 million in union dues per year are taken from these two groups and handed over to state government employee unions run by the United Auto Workers, AFSCME and the Service Employees International Union."
Run, Paul Ryan, Run
Run, Paul Ryan, Run - Jonah Goldberg - National Review Online
"If Ryan ran, he would probably drive the other candidates farther away from his own plan while forcing them to come up with serious alternatives of their own.
Many think that if he got the nomination, he would clean Obama’s clock in the debates."
"If Ryan ran, he would probably drive the other candidates farther away from his own plan while forcing them to come up with serious alternatives of their own.
Many think that if he got the nomination, he would clean Obama’s clock in the debates."
Obama botches toast to the queen
Good news: Obama botches toast to the queen « Hot Air
"This is why he doesn’t get invited to weddings, guys."
"This is why he doesn’t get invited to weddings, guys."
"The tanned Duchess of Cambridge blew Michelle Obama out of the water."
Althouse: "The tanned Duchess of Cambridge blew Michelle Obama out of the water."
"'The tanned Duchess of Cambridge blew Michelle Obama out of the water.'
Insane Daily Mail headline.
It's supposed to relate to the fashion:
For their first meeting yesterday, Kate wore a simple but stylish £175 bandage dress in fashionable ‘nude’ from Reiss, one of the few truly British fashion brands left on the planet....
Michelle Obama, on the other hand, looked like a little girl in a too short pink bolero (I hate boleros – and only six-year-olds should wear pink!) that my fashion spies tell me is not even vintage, it’s just old."
Ouch.
Fashionable nude and impossible pink... apparently."
"'The tanned Duchess of Cambridge blew Michelle Obama out of the water.'
Insane Daily Mail headline.
It's supposed to relate to the fashion:
For their first meeting yesterday, Kate wore a simple but stylish £175 bandage dress in fashionable ‘nude’ from Reiss, one of the few truly British fashion brands left on the planet....
Michelle Obama, on the other hand, looked like a little girl in a too short pink bolero (I hate boleros – and only six-year-olds should wear pink!) that my fashion spies tell me is not even vintage, it’s just old."
Ouch.
Fashionable nude and impossible pink... apparently."
Tuesday, May 24, 2011
Aspen begins battle against plastic bottles
Aspen begins battle against plastic bottles - KDVR
"It was launched after a council member visited the Caribbean and was shocked by the amount of discarded plastic bottles floating in the ocean."
Do these eco-nuts realize that steel bottles must be washed...with WATER and evil dish soap?
"It was launched after a council member visited the Caribbean and was shocked by the amount of discarded plastic bottles floating in the ocean."
Do these eco-nuts realize that steel bottles must be washed...with WATER and evil dish soap?
AARP's ObamaCare Endgame Revealed
American Thinker: AARP's ObamaCare Endgame Revealed
"Non-Medigap insurers, not exempted from ObamaCare's rate reviews, must justify rate increases.
In effect, the HHS exemption gives AARP the ability to generate profits not achievable by non-exempted competitors"
"Non-Medigap insurers, not exempted from ObamaCare's rate reviews, must justify rate increases.
In effect, the HHS exemption gives AARP the ability to generate profits not achievable by non-exempted competitors"
Tea Party Doctor Issues Obamacare Debate Challenge
Tea Party Doctor Issues Obamacare Debate Challenge - Big Government
"If you were stuck reading just the mainstream media, you would probably have no idea that there is a growing movement among doctors to oppose President Barack Obama’s health care plan.
Dr. Adam Dorin, who practices medicine in southern California, has helped co-found an offshoot of the Tea Party known as The Doctors National TEA Party"
"If you were stuck reading just the mainstream media, you would probably have no idea that there is a growing movement among doctors to oppose President Barack Obama’s health care plan.
Dr. Adam Dorin, who practices medicine in southern California, has helped co-found an offshoot of the Tea Party known as The Doctors National TEA Party"
Step Increases: The Big Teacher Raises That Don’t Make the News
Step Increases: The Big Teacher Raises That Don’t Make the News [Michigan Capitol Confidential]
"Yet, Mattawan teachers who have 13 years of service or less are still set to receive step increases of more than 5 percent for this year and the next two.
Van Beek said 65 percent of Mattawan’s teachers have 11 years or less experience."
Add the platimun health care and COL increases.
It all adds up to bankruptcy for school systems and taxpayers.
"Yet, Mattawan teachers who have 13 years of service or less are still set to receive step increases of more than 5 percent for this year and the next two.
Van Beek said 65 percent of Mattawan’s teachers have 11 years or less experience."
Add the platimun health care and COL increases.
It all adds up to bankruptcy for school systems and taxpayers.
Controversial Spring Lake community C3Exchange to sell its building, asking $1.9 million
Controversial Spring Lake community C3Exchange to sell its building, asking $1.9 million MLive.com
"C3Exchange generated controversy last June by changing its name from Christ Community Church and removing the cross on its building."
OK.
You're a Christian church...but you remove Christ from your church.....and you remove the Cross from your church......and you wonder why your members have removed you from their lives.
"C3Exchange generated controversy last June by changing its name from Christ Community Church and removing the cross on its building."
OK.
You're a Christian church...but you remove Christ from your church.....and you remove the Cross from your church......and you wonder why your members have removed you from their lives.
Monday, May 23, 2011
Pile of debt would stretch beyond stratosphere
Pile of debt would stretch beyond stratosphere Reuters
"* The U.S. government borrows more than $40,000 per second.
That's more than the cost of a year's tuition, room and board at many universities.
'That usually gets their attention,' Doug Holtz-Eakin, who was chief White House economist under President George W. Bush, said in an email.
'I have two kids, so every 10 seconds, the feds borrow more than I paid lifetime.'"
"* The U.S. government borrows more than $40,000 per second.
That's more than the cost of a year's tuition, room and board at many universities.
'That usually gets their attention,' Doug Holtz-Eakin, who was chief White House economist under President George W. Bush, said in an email.
'I have two kids, so every 10 seconds, the feds borrow more than I paid lifetime.'"
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