While insulting President Bush by throwing shoes at him was a poor choice by an Iraqi journalist - where's the impartiality? - this journalist seems to have gotten a real lesson in democracy, at least the kind we've exported there.
Muntazer al-Zaidi, the journalist who was fit enough to throw shoes a couple days ago, now has a broken arm and broken ribs, according to this news story.
Goes to show what a couple days in detention, in our newest democratic offshoot, can do for you.
Whatever kind of beliefs we are exporting, this is notmyusa.
Tuesday, December 16, 2008
In the arena of sports ...
The Arena Football League plans to cancel its 2009 season, according to a published report.
Executives and owners of the league's 16 teams say they need time to work on the league's economic model.
I've never been to an arena football game. There are too many other entertainment options.
Unfortunately for many sports team owners, the poor economy is going to have them looking for new economic models, ones that don't involve overpaying for overhyped and underachieving athletes. Ones that don't involve sticking it to longtime fans by charging exorbitant fees just to retain tickets you've had for years. Probably even ones that don't rely on ripping out regular seats in order to install fancy suites - a fair amount of which will likely go unoccupied if this economic malaise sticks around.
Oh, and it probably means a new economic model for municipalities and states that built stadiums for wealthy team owners, extended generous tax rebates or any other range of foolishness ... all to keep their city on the map. Because what would we be without professional sports? Well, with or without them, we'll be paying off the debts for a long time.
I come at this as a long-suffering fan of the woeful Kansas City Royals and Chiefs clubs. Hey, at least I don't have to worry about King Carl Peterson after this season, since he resigned. His sole goal had been to keep the team profitable by keeping the seats packed. And he was very successful nearly two decades into his five-year plan to take the Chiefs to the Super Bowl. In the end, it turns out you can't be an arrogant GM, mistreat your players and fans, and expect to stay on top. Especially when you can't field a playoff contender.
Is there a lesson for politicians and Wall Street in this?
As long as they retain their comfy suites, probably not.
Executives and owners of the league's 16 teams say they need time to work on the league's economic model.
I've never been to an arena football game. There are too many other entertainment options.
Unfortunately for many sports team owners, the poor economy is going to have them looking for new economic models, ones that don't involve overpaying for overhyped and underachieving athletes. Ones that don't involve sticking it to longtime fans by charging exorbitant fees just to retain tickets you've had for years. Probably even ones that don't rely on ripping out regular seats in order to install fancy suites - a fair amount of which will likely go unoccupied if this economic malaise sticks around.
Oh, and it probably means a new economic model for municipalities and states that built stadiums for wealthy team owners, extended generous tax rebates or any other range of foolishness ... all to keep their city on the map. Because what would we be without professional sports? Well, with or without them, we'll be paying off the debts for a long time.
I come at this as a long-suffering fan of the woeful Kansas City Royals and Chiefs clubs. Hey, at least I don't have to worry about King Carl Peterson after this season, since he resigned. His sole goal had been to keep the team profitable by keeping the seats packed. And he was very successful nearly two decades into his five-year plan to take the Chiefs to the Super Bowl. In the end, it turns out you can't be an arrogant GM, mistreat your players and fans, and expect to stay on top. Especially when you can't field a playoff contender.
Is there a lesson for politicians and Wall Street in this?
As long as they retain their comfy suites, probably not.
Oh, oh, Obama - Cheney likes what you're doing
Vice president Dick Cheney told ABC News that he likes the choices President-elect Barack Obama is making in his defense and security teams.
Yikes.
Yikes.
The new cost of living
303,824,640 - Population of the U.S.A., as estimated in July 2008 by the CIA World Factbook.
$700 billion - Estimated cost of the financial bailout
$2,303.96 - cost per capita to pay for this mess.
Notmyusa
$700 billion - Estimated cost of the financial bailout
$2,303.96 - cost per capita to pay for this mess.
Notmyusa
What about me and you?
A federal judge wants to protect the elite millionaire investors who were duped by Bernard Madoff's ponzi scheme. See the story here.
U.S. District Judge Louis L. Stanton is ordering bilked investors to apply for relief through a government reserve fund set up to help investors at failed brokerage firms. The judge signed the order upon request of the Securities Investor Protection Corporation (SIPC).
According to the article, "Congress created the SIPC in 1970 to protect investors when a brokerage firm fails and cash and securities are missing from accounts. Funds can be used to satisfy the remaining claims of each customer up to a maximum of $500,000. The figure includes a maximum of up to $100,000 on claims for cash."
As much as $50 billion in richie's trust funds may be at stake, according to reports. One part of me says I shouldn't be so harshly stereotypical, because apparently plenty of pension funds and university endowments were compromised.
But in the end it came down to money managers who didn't practice due diligence, who thought they deserved a 10+% return on their investment, without a sound answer as to how that return was coming back to them. That's greed.
Meanwhile, over the course of several months, ordinary Americans' 401Ks and other investments have tanked to the tune of 40-50% or more. I wonder if any judge will stand up and say that you and I deserve protection for our lost investments? If this whole mess causes my life investments to fall to zero, or practically zero, is there a SIPC for me? The simple answer: not in this USA.
U.S. District Judge Louis L. Stanton is ordering bilked investors to apply for relief through a government reserve fund set up to help investors at failed brokerage firms. The judge signed the order upon request of the Securities Investor Protection Corporation (SIPC).
According to the article, "Congress created the SIPC in 1970 to protect investors when a brokerage firm fails and cash and securities are missing from accounts. Funds can be used to satisfy the remaining claims of each customer up to a maximum of $500,000. The figure includes a maximum of up to $100,000 on claims for cash."
As much as $50 billion in richie's trust funds may be at stake, according to reports. One part of me says I shouldn't be so harshly stereotypical, because apparently plenty of pension funds and university endowments were compromised.
But in the end it came down to money managers who didn't practice due diligence, who thought they deserved a 10+% return on their investment, without a sound answer as to how that return was coming back to them. That's greed.
Meanwhile, over the course of several months, ordinary Americans' 401Ks and other investments have tanked to the tune of 40-50% or more. I wonder if any judge will stand up and say that you and I deserve protection for our lost investments? If this whole mess causes my life investments to fall to zero, or practically zero, is there a SIPC for me? The simple answer: not in this USA.
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