Gutted by Government
Shikha Dalmia, Reason Foundation senior analyst, and Goldwater Institute president Darcy Olsen, on how government contributed to Detroit’s downfall.
Monday, July 29, 2013
BANK OF CYPRUS DEPOSITORS LOSE 47.5 PCT OF SAVINGS
News from The Associated Press:
"Depositors at bailed-out Cyprus' largest bank will lose 47.5 percent of their savings exceeding 100,000 euros ($132,000), the government said Monday.
The figure comes four months after Cyprus agreed on a 23 billion-euro ($30.5 billion) rescue package with its euro partners and the International Monetary Fund. "
"Depositors at bailed-out Cyprus' largest bank will lose 47.5 percent of their savings exceeding 100,000 euros ($132,000), the government said Monday.
The figure comes four months after Cyprus agreed on a 23 billion-euro ($30.5 billion) rescue package with its euro partners and the International Monetary Fund. "
What Will the End of Moore’s Law Mean for Consumers? Not Much
What Will the End of Moore’s Law Mean for Consumers? Not Much | Xconomy:
"Moore’s Law was never a real physical law, of course, but merely a prediction, first ventured by Intel co-founder Gordon Moore back in 1965. It says that the number of transistors that chipmakers can squeeze into a microprocessor will double every 18 to 24 months, without adding to the device’s size or cost.
The prediction held true for about 40 years, but now manufacturers are falling behind. Between 2009 and 2012, Intel improved the performance of its CPUs by only 10 or 20 percent per year—way behind the 60-percent-per-year gains needed to keep pace with Moore’s original forecast."
"Moore’s Law was never a real physical law, of course, but merely a prediction, first ventured by Intel co-founder Gordon Moore back in 1965. It says that the number of transistors that chipmakers can squeeze into a microprocessor will double every 18 to 24 months, without adding to the device’s size or cost.
The prediction held true for about 40 years, but now manufacturers are falling behind. Between 2009 and 2012, Intel improved the performance of its CPUs by only 10 or 20 percent per year—way behind the 60-percent-per-year gains needed to keep pace with Moore’s original forecast."
Fast-food workers to strike for higher wages this week in Detroit, Flint
Fast-food workers to strike for higher wages this week in Detroit, Flint | Crain's Detroit Business:
"Thousands of fast-food workers from restaurants such as McDonald's Corp. and Wendy's Co. will walk off the job beginning today, calling for $15-an-hour pay."
"Thousands of fast-food workers from restaurants such as McDonald's Corp. and Wendy's Co. will walk off the job beginning today, calling for $15-an-hour pay."
City of Chicago’s cash cushion plummets, debt triples, arrests drop, water use rises
City of Chicago’s cash cushion plummets, debt triples, arrests drop, water use rises - Chicago Sun-Times:
"Last week, Moody’s Investors ordered an unprecedented triple-drop in the city’s bond rating, citing Chicago’s “very large and growing” pension liabilities, “significant” debt service payments, “unrelenting public safety demands” and historic reluctance to raise local taxes that has continued under Emanuel."
"Last week, Moody’s Investors ordered an unprecedented triple-drop in the city’s bond rating, citing Chicago’s “very large and growing” pension liabilities, “significant” debt service payments, “unrelenting public safety demands” and historic reluctance to raise local taxes that has continued under Emanuel."
Detroit Looks to Health Law to Ease Costs
Detroit Looks to Health Law to Ease Costs - NYTimes.com:
"As Detroit enters the federal bankruptcy process, the city is proposing a controversial plan for paring some of the $5.7 billion it owes in retiree health costs: pushing many of those too young to qualify for Medicare out of city-run coverage and into the new insurance markets that will soon be operating under the Obama health care law."
"As Detroit enters the federal bankruptcy process, the city is proposing a controversial plan for paring some of the $5.7 billion it owes in retiree health costs: pushing many of those too young to qualify for Medicare out of city-run coverage and into the new insurance markets that will soon be operating under the Obama health care law."
Metro Detroiters suing Elmers for promoting Krazy Glue as good for wood
Metro Detroiters suing Elmers for promoting Krazy Glue as good for wood | Detroit Free Press | freep.com:
"Talk about coming unglued.
Two frustrated consumers are suing the makers of Instant Krazy Glue in Detroit federal court, claiming they got duped into thinking the sticky stuff that can supposedly hold a man in a hardhat to a beam in midair would bond wood."
"Talk about coming unglued.
Two frustrated consumers are suing the makers of Instant Krazy Glue in Detroit federal court, claiming they got duped into thinking the sticky stuff that can supposedly hold a man in a hardhat to a beam in midair would bond wood."
Muskegon Heights seeks $65K to polish Mona Lake Park renovation, fix baseball field
Muskegon Heights seeks $65K to polish Mona Lake Park renovation, fix baseball field | MLive.com:
"Muskegon Heights City Planning and Zoning Administrator Brenda Moore said the extra money is needed to touch up a variety of things at the park, including a baseball field mistakenly built with an adult-size infield and a kiddie-size outfield.
........The city is in the process of wrapping up the second part of the park's renovation, funded by $700,000 in grant money from a variety of sources, including the Michigan Cities of Promise, the Michigan Natural Resources Trust Fund and the U.S. Land and Water Management Fund. "
"Muskegon Heights City Planning and Zoning Administrator Brenda Moore said the extra money is needed to touch up a variety of things at the park, including a baseball field mistakenly built with an adult-size infield and a kiddie-size outfield.
........The city is in the process of wrapping up the second part of the park's renovation, funded by $700,000 in grant money from a variety of sources, including the Michigan Cities of Promise, the Michigan Natural Resources Trust Fund and the U.S. Land and Water Management Fund. "
Woonsocket hopes supplemental tax will be end of deficits
Woonsocket hopes supplemental tax will be end of deficits | Breaking News | providencejournal.com
"The supplemental tax will raise $2.5 million from multifamily residential real estate and motor vehicles, and the money will be used to balance the 2012-13 budget, which ended June 30.
That assessment is also built into the 2013-14 tax rate, along with a 4-percent tax increase and a cut in the homestead exemption, which means the average homeowner in the city will see a 23-percent increase in his or her tax bill."
"The supplemental tax will raise $2.5 million from multifamily residential real estate and motor vehicles, and the money will be used to balance the 2012-13 budget, which ended June 30.
That assessment is also built into the 2013-14 tax rate, along with a 4-percent tax increase and a cut in the homestead exemption, which means the average homeowner in the city will see a 23-percent increase in his or her tax bill."
Sunday, July 28, 2013
Police: Assault, Robbery Investigated as Hate Bias
Police: Assault, Robbery Investigated as Hate Bias | NBC4 Washington:
"Police said a man, 28, from Bethesda, Md., was attacked in the 1700 block of Euclid Street, Northwest, in Adams Morgan.
The victim said he was approached by three black males who kicked and punched him to the ground.
According the victim, one of the attackers yelled, “This is for Trayvon,” during the assault. "
"Police said a man, 28, from Bethesda, Md., was attacked in the 1700 block of Euclid Street, Northwest, in Adams Morgan.
The victim said he was approached by three black males who kicked and punched him to the ground.
According the victim, one of the attackers yelled, “This is for Trayvon,” during the assault. "
Dominican Republic scammers sell welfare food bought in NYC and shipped in barrels
EXCLUSIVE: Dominican Republic scammers sell welfare food bought in NYC and shipped in barrels - NYPOST.com:
"Food-stamp fraud in New York has turned into foreign aid — to black-market profiteers in the Dominican Republic."
"Food-stamp fraud in New York has turned into foreign aid — to black-market profiteers in the Dominican Republic."
Obama: "I don't need to consult White House lawyers because I know a lot more about the Constitution than the Republicans." |
Obama: "I don't need to consult White House lawyers because I know a lot more about the Constitution than the Republicans."
In an interview after his speech Wednesday in Galesburg, Illinois, President Obama was asked if he consulted White House lawyers before unilaterally delaying the employer mandate in Obamacare. Since Congress, in the Affordable Care Act, specified that the mandate is go to into effect at the start of next year, reporters from the New York Times asked if the president investigated whether he had the legal authority to put it off without going through Congress.
Obama didn’t exactly answer the question. But judging from what he said, his answer was: No, I didn’t consult White House lawyers because I know a lot more about the Constitution than the Republicans who are complaining about it. And besides, they don’t think I’m legitimately the president, anyway.
“People questioned your legal and constitutional authority to do that unilaterally — to delay the employer mandate,” asked the Times’ Jackie Calmes. “Did you consult with your lawyer?”“Jackie, if you heard me on stage today, what I said was that I will seize any opportunity I can find to work with Congress to strengthen the middle class, improve their prospects, improve their security,” Obama began.
“No, but specifically — ” Calmes interjected.
“But where Congress is unwilling to act,” Obama continued, “I will take whatever administrative steps that I can in order to do right by the American people.”
At that point, Obama explained that if Congress doesn’t like what he’s done, then lawmakers can try to do something about it. “I’m not concerned about their opinions,” the president said. “Very few of them, by the way, are lawyers, much less constitutional lawyers.” And some Republicans “think I usurp my authority by having the gall to win the presidency.”
Fruitland Township sues to dissolve or 'fix' White Lake Ambulance Authority
Fruitland Township sues to dissolve or 'fix' White Lake Ambulance Authority | MLive.com:
"On the auditors’ repeated reports of “material weaknesses” in the authority’s financial reporting, Dresen said that with a two-person office it’s difficult to adhere to all standard accounting procedures. "
"On the auditors’ repeated reports of “material weaknesses” in the authority’s financial reporting, Dresen said that with a two-person office it’s difficult to adhere to all standard accounting procedures. "
Detroit vs. Everybody + Colbert = cha-ching day for local T-shirt biz
Detroit vs. Everybody + Colbert = cha-ching day for local T-shirt biz | Crain's Detroit Business:
"I didn't make the attitude 'Detroit v. Everybody' I just diagnosed it.
I was fed up with the negative stereotypes of my city.
And I love this city," he said.
T-shirts at the store cost $29.99; sweats"
"I didn't make the attitude 'Detroit v. Everybody' I just diagnosed it.
I was fed up with the negative stereotypes of my city.
And I love this city," he said.
T-shirts at the store cost $29.99; sweats"
Book Cadillac pays on loan, avoids state default notice
Book Cadillac pays on loan, avoids state default notice | Crain's Detroit Business:
"MSHDA was originally a mezzanine lender in the $180 million financing package for Ferchill to redevelop Book Cadillac.
But it has been the senior lender on the condominium part of the deal since Pittsburgh-based PNC Bank (which acquired senior project lender National City Bank in 2008) and the Lower Woodward Housing Fund maintained by Invest Detroit were both repaid nearly $9 million in combined condo construction loans."
"MSHDA was originally a mezzanine lender in the $180 million financing package for Ferchill to redevelop Book Cadillac.
But it has been the senior lender on the condominium part of the deal since Pittsburgh-based PNC Bank (which acquired senior project lender National City Bank in 2008) and the Lower Woodward Housing Fund maintained by Invest Detroit were both repaid nearly $9 million in combined condo construction loans."
Report: Detroit's 'Eat 'em Up Tigers Guy' killed in hit-and-run
Report: Detroit's 'Eat 'em Up Tigers Guy' killed in hit-and-run | MLive.com:
"He was reportedly with another well-known Detroit street person, known to many a "Dreadlock Mike," who was also killed, Channel 4 reports."
"He was reportedly with another well-known Detroit street person, known to many a "Dreadlock Mike," who was also killed, Channel 4 reports."
President Obama calls the United States and Europe ‘developing countries’ in latest embarrassing gaffe
President Obama calls the United States and Europe ‘developing countries’ in latest embarrassing gaffe – Telegraph Blogs:
"As we’ve seen on a number of previous occasions, Barack Obama clearly struggles with his words when he is without his beloved teleprompter.
He famously claimed to have visited 57 states in his 2008 campaign, and recently was unable to tell the difference between England and Great Britain.
I don’t think any American president, however, has ever referred to the United States, leader of the free world, as a “developing country” before, and nor is Europe a country, as much as the emperors of the European Commission would like the EU to be a superstate."
"As we’ve seen on a number of previous occasions, Barack Obama clearly struggles with his words when he is without his beloved teleprompter.
He famously claimed to have visited 57 states in his 2008 campaign, and recently was unable to tell the difference between England and Great Britain.
I don’t think any American president, however, has ever referred to the United States, leader of the free world, as a “developing country” before, and nor is Europe a country, as much as the emperors of the European Commission would like the EU to be a superstate."
Saturday, July 27, 2013
Outrage as bananas thrown at Italy's first black minister
Outrage as bananas thrown at Italy's first black minister - Telegraph:
"The treatment of Ms Kyenge has thrown a spotlight on the ugly racist currents running through some strands of society in Italy, a country grappling with tensions over rising levels of immigration, particularly from North Africa."
"The treatment of Ms Kyenge has thrown a spotlight on the ugly racist currents running through some strands of society in Italy, a country grappling with tensions over rising levels of immigration, particularly from North Africa."
Lake Michigan Water Trail project begins with inventory of Muskegon-area paddling assets | MLive.com
Lake Michigan Water Trail project begins with inventory of Muskegon-area paddling assets | MLive.com: "WMSRDC has a one-year, $180,000 Michigan Department of Environmental Quality Coastal Zone Management Program grant through the Land Informational Access Association in Traverse City to complete the West Michigan portion of the Lake Michigan Water Trail study.
"
"
How to save a small fortune: Map shows the states that will be dropping sales tax this summer so the price you see on the tag is what you'll actually pay at the register
How to save a small fortune: Map shows the states that will be dropping sales tax this summer so the price you see on the tag is what you'll actually pay at the register | Mail Online:
"Here’s a good way to save some money as tax-free holiday time roles around.
Fill up your gas tank and follow the map.
Slate put together a ‘Tax-Free Road Map’ that shows sixteen states to shop tax-free for particular items in August."
"Here’s a good way to save some money as tax-free holiday time roles around.
Fill up your gas tank and follow the map.
Slate put together a ‘Tax-Free Road Map’ that shows sixteen states to shop tax-free for particular items in August."
Is education nationalization falling apart?
Is education nationalization falling apart? - EAGnews.org powered by Education Action Group Foundation, Inc.:
"Ironically, it is perhaps because Common Core supporters have devoted huge amounts of their time and resources to denying that Washington had a major role in advancing the Core–a role they quietly called for–that may have caused them to miss the cracking in the tripod’s testing leg.
Or perhaps they knew, because most states wouldn’t do so on their own, that they would need Washington to force states to adopt uniform tests, while understanding that openly stating that necessity would prove toxic to their cause.
They knew that Americans, largely, do not want overt federal control over what their schools teach and how their kids are tested.
So they continued to downplay the need to establish any sort of governing structure to keep their tripod together, lest simple logic make clear to the public that only Washington could accomplish what the standardizers need.
In other words, the need to stay hush-hush about the federal role–in order to protect national standardization–ultimately may be what kills it."
"Ironically, it is perhaps because Common Core supporters have devoted huge amounts of their time and resources to denying that Washington had a major role in advancing the Core–a role they quietly called for–that may have caused them to miss the cracking in the tripod’s testing leg.
Or perhaps they knew, because most states wouldn’t do so on their own, that they would need Washington to force states to adopt uniform tests, while understanding that openly stating that necessity would prove toxic to their cause.
They knew that Americans, largely, do not want overt federal control over what their schools teach and how their kids are tested.
So they continued to downplay the need to establish any sort of governing structure to keep their tripod together, lest simple logic make clear to the public that only Washington could accomplish what the standardizers need.
In other words, the need to stay hush-hush about the federal role–in order to protect national standardization–ultimately may be what kills it."
Unions Cry Crocodile Tears on Municipal Pensions
Unions Cry Crocodile Tears on Municipal Pensions [Michigan Capitol Confidential]:
"These defined-benefit pension systems were a contributor to the mountain of liabilities that finally drove the city of Detroit to seek federal bankruptcy protection last week.
Across the country, they are widely perceived as ocean liners racing toward clearly visible icebergs, with few of the policymakers at the helm doing anything meaningful to reduce speed or change course."
"These defined-benefit pension systems were a contributor to the mountain of liabilities that finally drove the city of Detroit to seek federal bankruptcy protection last week.
Across the country, they are widely perceived as ocean liners racing toward clearly visible icebergs, with few of the policymakers at the helm doing anything meaningful to reduce speed or change course."
THEY KEEP DOING THIS STUFF: ABC’s Misleading Edit of Juror B29.
Instapundit » Blog Archive » THEY KEEP DOING THIS STUFF: ABC’s Misleading Edit of Juror B29
THEY KEEP DOING THIS STUFF: ABC’s Misleading Edit of Juror B29.
It’s like you can’t trust journalists to report the news rather than manufacture it.
Yesterday Breitbart News noted the ABC interview with Juror B29. The big news was that Maddy–her last name was never used to protect her privacy–had told Robin Roberts “George Zimmerman got away with murder.” And indeed if you watch the Nightline edit of the interview she does seem to say that without hesitation or reservation.
However, William Saletan at Slate points out that the unedited interview seems to show something different. Maddy actually hesitates twice when answering Roberts’ question which contains the statement “George Zimmerman got away with murder.” As Saletan points out “she looks as though she’s trying to reconcile the sentiment that’s been quoted to her—that Zimmerman ‘got away with murder’—with her own perspective. So she repeats the quote and adds words of her own, to convey what she thinks: that there’s a justice higher than the law, which Zimmerman will have to face ”
I agree with Saletan’s take on this. Maddy appears to be offering a response to a statement that was presented to her. You can see Maddy’s unedited response in the clip below (Scroll in about 2 minutes). . . . NBC is still being sued by George Zimmerman for the misleading edit of the 911 call which made him appear racist. ABC seems to be similarly misleading viewers about what juror Maddy said and meant in an effort to generate headlines.
It’s like you can’t trust journalists to report the news rather than manufacture it.
Friday, July 26, 2013
'Carlos Danger ' rising business superstar
'Carlos Danger ' rising business superstar- MSN Money: "Spirit Airlines seized upon the name for a special promotion offering $24 off its Mexico vacation packages. The airline's new ad shows a superhero hot dog with the name holding a cell phone."
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