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December 2012
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Archive for December 9, 2012

Republican View: Obama Didn’t Win

Nope. Looks like that win Obama claims may be up to dispute. Seems he actually came in second to last in the presidential race. Even their man, Mitt Romney, came in a close second.

For 2013: No More Romney
I hope that there is one promise I can keep. I don’t want to write the name of the lyingest bastard ever to run for president even once more.

ALEC: Let’s Put The Pressure On
ALEC just had their winter meeting in Washington. We need to put pressure on those in the Iowa legislature who show feality to ALEC and not to Iowa. I believe we can start at the top with Gov. Branstad and SoS Matt (on the job training) Schultz.

Bain Dumping Clear Channel?
One of the worst things to come out of the Clinton presidency was the Telecommunications Act of 1996. This was the final nail in the structure of that media consolidation was built on. Clear Channel was able to take on more than 1200 radio stations at the height of their consolidation. But new media and bad management caused Clear Channel to shed some of their losers a few years back. Eventually, Bain Capital (yep the Vultures) bought CC trying to work their “magic.” Friday Clear Channel/Bain went through a huge layoff. My guess is this is yet another stop gap measure on their way to bankruptcy. Keep an eye out, there may be some cheap radio properties available next year.

Limbaugh Gets Some Credit
In the demise of Clear Channel, I believe Limbaugh gets some credit. Limbaugh actually works for CC subsidiary Premiere Networks. His loss of advertising has been one of the biggest reasons that CC is in huge trouble. Limbaugh is still getting his huge salary of an estimated $38 million per year. Maybe he should do what he tells unions to do and take a pay cut.

Speaking Of Demises
Not that these companies are going out of business, but restaurant chains that publically bucked the coming of Obamacare seem to be paying a price for their obstinance. Darden Restaurants (Red Lobster, Olive Garden) has apparently lost a chunk of business. It also looks like Papa John’s Pizza took a huge hit in the reputation column, also. Gee whiz, filthy rich owners, is it that hard to treat your employees decently? It never hurts to vote with your dollars.

Speaking of Treating Employees Well
Walmart and its subsidiary Sam’s Club, is notorious for its low wages and employees being forced to use Medicaid for its health care and food stamps to afford to eat. On the other end of the employer spectrum is Costco, which pays its employees well, offers a good health care plan and retirement. These contrasting styles of management have been studied over and over. In every instance I have seen, Costco kicks Sam’s Club to the curb. I am sure this is true in nearly every instance where the focus is on employee costs. When will American employers learn?

 December 7th

As I write this it is Dec. 7. This is of course a day that has much baggage. Most important is the 71st anniversary of the Japanese attacks on Pearl Harbor. This is of course the final straw that pulled the US into World War 2. December 7th is also the launch date of Apollo 17 in 1972. This eventually became the final trip to the moon for America. Seems to me that without grand goals, America seems to have lost its way. As many others have said, we need an Apollo program type effort to restore America’s infrastructure to prepare for the future and to face the threat of climate change which will be the toughest foe man has ever faced.

Sunday Funday: Elizabeth Warren Is On The Banking Committee Edition

So let’s see what your banking IQ is. Bet you Elizabeth’s is about a zillion. See if you can concentrate over the weeping and gnashing of banker’s teeth in the background.

1) By assets, what is the largest bak in the world?
a) Industrial and Coomercial Bank of China
b) Royal Bank Of Scotland
c) Bank Of America
d) Deutsche Bank

2) The United States has ________ of the top ten banks in the world?
a) 5
b) 7
c) 2
d) 1

3) The estimated assets for the world’s largest bank is approximately
a) $2.75 trillion
b) $10 trillion
c) $800 billion
d) $500 billion

4) the largest bank in the US is
a) Bank of America
b) Citigroup
c) JP Morgan Chase
d) Wells Fargo

5) In 1995 the “Big Six” banks held assets that equal to what percentage of the GDP?
a) 8%
b) 17%
c) 33%
d) 48%

6) Today the “Big Six’ hold assets equal to what percentage of the GDP?
a) 25%
b) 40%
c) 60%
d) 80%

7) Does the United States have a central Bank?
a) yes
b) no

8) Recently, what Senator forced an audit of the federal Reserve?
a) Rand Paul
b) Bernie Sanders
c) Mitch McConnell
d) John Kerry

9) During that audit, the Fed was found to have how much in secret loans lent to various world institutions?
a) $16 Trillion
b) $27 Trillion
c) $1 Trillion
d) $800 Billion

10) The Federal Reserve was chartered in what year?
a) 1933
b) 1941
c) 1917
d) 1913

OK – this looks like a subject we can get into a little more later on. Nothing like thinking of money on a Sunday morning.
Here we go with some answers:

1) d) Deutsche Bank

2) c) 2 – JP Morgan Chase and Bank of America

3) a) $2.75 trillion

4) c) Jp Morgan Chase

5) b) 17%

6) c) 60%

7) a) yes – the Federal Reserve (some may have thought Andrew Jackson ended that – he did for a while)

8) b) Bernie Sanders

9) a) $16 trillion

10) d) 1913