Obama’s ‘Victory Dance’ on Auto Bailouts Could Hurt Business, Industry Expert Warns CNSnews.com
"Market research indicated that the bailouts were unpopular and had a stigmatizing effect on automakers, added the expert.".....
"The Treasury Department still owns 26.5 percent of GM and 8.6 percent of Chrysler, with poor prospects for earning back its entire investment in both companies."
Saturday, May 28, 2011
Libya Crisis: Obama Gives Moammar Gadhafi Ultimatum
Libya Crisis: Obama Gives Moammar Gadhafi Ultimatum - ABC News
"President Obama told a bipartisan group of members of Congress today that he expects the U.S. would be actively involved in any military action against Libya for 'days, not weeks,' after which he said the U.S. would take more of a supporting role, sources tell ABC News."
In case you forgot....or wondered where all the Code Pink folks went.....
"President Obama told a bipartisan group of members of Congress today that he expects the U.S. would be actively involved in any military action against Libya for 'days, not weeks,' after which he said the U.S. would take more of a supporting role, sources tell ABC News."
In case you forgot....or wondered where all the Code Pink folks went.....
Recount confirms one-vote win in Orchard View school board race
Recount confirms one-vote win in Orchard View school board race MLive.com
Another reminder of the power of just one vote.
Another reminder of the power of just one vote.
Editorial: Will 'Obamalaise' Create Another Downturn?
Editorial: Will 'Obamalaise' Create Another Downturn? - Investors.com
Among the bad news:
• Businesses last month slashed orders for autos and other durable goods by the largest amount in six months.
• Industrial output dropped the most in April for any month since the start of the recovery, indicating the manufacturing sector may be rolling over.
• Jobless claims last week unexpectedly shot up and topped 400,000 for the seventh straight week, signaling that payroll growth remains soft — in fact, the pace of hiring may be slowing.
• April housing starts plunged 11%, confirming the housing industry remains moribund.
• Foreclosures last quarter accounted for 28% of all home sales — the highest share in a year and nearly six times above the normal rate.
• Consumer spending last quarter expanded just 2% after rising at a 4% clip in the fourth quarter.
• Net corporate profits last quarter fell 1% after rising 3% in the fourth quarter, and weaker earnings continue to act as a drag on stocks.
• The overall economy last quarter grew a lower-than-expected 1.8% vs. 3.1% in the fourth, showing gross domestic product growth is braking hard
Among the bad news:
• Businesses last month slashed orders for autos and other durable goods by the largest amount in six months.
• Industrial output dropped the most in April for any month since the start of the recovery, indicating the manufacturing sector may be rolling over.
• Jobless claims last week unexpectedly shot up and topped 400,000 for the seventh straight week, signaling that payroll growth remains soft — in fact, the pace of hiring may be slowing.
• April housing starts plunged 11%, confirming the housing industry remains moribund.
• Foreclosures last quarter accounted for 28% of all home sales — the highest share in a year and nearly six times above the normal rate.
• Consumer spending last quarter expanded just 2% after rising at a 4% clip in the fourth quarter.
• Net corporate profits last quarter fell 1% after rising 3% in the fourth quarter, and weaker earnings continue to act as a drag on stocks.
• The overall economy last quarter grew a lower-than-expected 1.8% vs. 3.1% in the fourth, showing gross domestic product growth is braking hard
Economic Stagnation Explained, at 30,000 Fee
Carter: Economic Stagnation Explained, at 30,000 Feet - Bloomberg:
"The man in the aisle seat is trying to tell me why he refuses to hire anybody.
His business is successful, he says, as the 737 cruises smoothly eastward.
Demand for his product is up. But he still won’t hire.
“Why not?”
“Because I don’t know how much it will cost,” he explains.
“How can I hire new workers today, when I don’t know how much they will cost me tomorrow?”
He’s referring not to wages, but to regulation:
He has no way of telling what new rules will go into effect when.
His business, although it covers several states, operates on low margins.
He can’t afford to take the chance of losing what little profit there is to the next round of regulatory changes. And so he’s hiring nobody until he has some certainty about cost."
"The man in the aisle seat is trying to tell me why he refuses to hire anybody.
His business is successful, he says, as the 737 cruises smoothly eastward.
Demand for his product is up. But he still won’t hire.
“Why not?”
“Because I don’t know how much it will cost,” he explains.
“How can I hire new workers today, when I don’t know how much they will cost me tomorrow?”
He’s referring not to wages, but to regulation:
He has no way of telling what new rules will go into effect when.
His business, although it covers several states, operates on low margins.
He can’t afford to take the chance of losing what little profit there is to the next round of regulatory changes. And so he’s hiring nobody until he has some certainty about cost."
How Michigan's bond rating stacks up
Lsj - How Michigan's bond rating stacks up
"Here's a look at how states rate with Standard and Poor's:
—AAA: Delaware, Florida, Georgia, Indiana, Iowa, Maryland, Minnesota, Missouri, Nebraska, North Carolina, Utah, Virginia, Wyoming.
—AA+ (double A plus): Alaska, Idaho, Kansas, New Mexico, North Dakota, Ohio, Oklahoma, Oregon, South Carolina, South Dakota, Tennessee, Texas, Vermont, Washington state.
—AA: Alabama, Arkansas, Colorado, Connecticut, Hawaii, Louisiana, Maine, Massachusetts, Mississippi, Montana, Nevada, New Hampshire, New York, Pennsylvania, Rhode Island, West Virginia, Wisconsin.
—AA- (double A minus): MICHIGAN, Arizona, Kentucky, New Jersey.
—A+ (A plus): Illinois.
—A- (A minus): California."
Just for fun, try guessing which are red states and which are blue.
(hint: red states seem to be at the top of the page)
"Here's a look at how states rate with Standard and Poor's:
—AAA: Delaware, Florida, Georgia, Indiana, Iowa, Maryland, Minnesota, Missouri, Nebraska, North Carolina, Utah, Virginia, Wyoming.
—AA+ (double A plus): Alaska, Idaho, Kansas, New Mexico, North Dakota, Ohio, Oklahoma, Oregon, South Carolina, South Dakota, Tennessee, Texas, Vermont, Washington state.
—AA: Alabama, Arkansas, Colorado, Connecticut, Hawaii, Louisiana, Maine, Massachusetts, Mississippi, Montana, Nevada, New Hampshire, New York, Pennsylvania, Rhode Island, West Virginia, Wisconsin.
—AA- (double A minus): MICHIGAN, Arizona, Kentucky, New Jersey.
—A+ (A plus): Illinois.
—A- (A minus): California."
Just for fun, try guessing which are red states and which are blue.
(hint: red states seem to be at the top of the page)
Friday, May 27, 2011
DC Schoolchildren forced to eat raw onions for snacks
theblogprof: DC Schoolchildren forced to eat raw onions for snacks
"For the umpteenth time, the days when your kids learned math, reading and writing in public schools is all but over, replaced with a government-run one where students heads are filled with environmental and nutritional propaganda.
There had never been anything wrong with cookies and milk.
Yet in the DC government school system, the worst in the nation right behind Detroit Public Schools, the focus is on forcing kids to eat what they don't want to"
"For the umpteenth time, the days when your kids learned math, reading and writing in public schools is all but over, replaced with a government-run one where students heads are filled with environmental and nutritional propaganda.
There had never been anything wrong with cookies and milk.
Yet in the DC government school system, the worst in the nation right behind Detroit Public Schools, the focus is on forcing kids to eat what they don't want to"
General Motors Will Never Repay Taxpayers - Reason Magazine
General Motors Will Never Repay Taxpayers - Reason Magazine
"This means that, outside of miracle, taxpayers will lose anywhere from $13 to $19 billion on their principal and another $15 billion on taxes for a grand total of up to $28 to $34 billion* in losses.
And that’s just for GM. Chrysler is whole different—and equally sordid—story.
Even Treasury Secretary Timothy Geithner acknowledged last month: “We’re going to lose money in the auto industry.”"
"This means that, outside of miracle, taxpayers will lose anywhere from $13 to $19 billion on their principal and another $15 billion on taxes for a grand total of up to $28 to $34 billion* in losses.
And that’s just for GM. Chrysler is whole different—and equally sordid—story.
Even Treasury Secretary Timothy Geithner acknowledged last month: “We’re going to lose money in the auto industry.”"
Dark Skies Ahead
Dark Skies Ahead NetRight Daily
"Specifically, the biggest driver of new spending has been “the rise of the welfare state”.
As Woodhill notes, “‘Payments to Individuals’ (both direct and via grants to State and local governments) exploded from 3.6 percent of GDP to 12.7 percent of GDP.”"
"Specifically, the biggest driver of new spending has been “the rise of the welfare state”.
As Woodhill notes, “‘Payments to Individuals’ (both direct and via grants to State and local governments) exploded from 3.6 percent of GDP to 12.7 percent of GDP.”"
Illinois lawmakers need to reform pensions
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."
"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."
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"
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