This is a tragic Black Friday. Maybe the whole "black friday" thing should be re-thought.
In New York, a Walmart employee was crushed to death by a crowd that broke down the doors to the store.
And, in an unrelated but equally tragic incident, the hostages that were being held at the Mumbai Chabad House were murdered, along with scores of other innocents. This really hits hard in the Jewish community. Chabad is a charismatic sect of Hassidic Judaism that has as its mission to reach out to Jews all over the world. They set up "Chabad Houses" in cities all over the world, so that Jews that are traveling away from home can find a place to have a kosher meal, study, pray, or just rest. All are welcome, irregardless of affiliation or level of religious observance or knowledge. Killing a Chabad Rabbi and his wife is utterly barbaric, because they are the epitome of kindness and hospitality.
An American art professor and his 13 year old daughter were also killed in one of the hotel attacks. Alan and Naomi Scherr were eating a late dinner together at the Oberoi hotel.
Somehow, the death of innocent people reall puts a damper on my commercial spirit. I don't feel much like shopping at this point, do you?
Friday, November 28, 2008
Thursday, November 27, 2008
Happy Thanksgiving!
To my readers, I wish you a happy Thanksgiving!
I think Thanksgiving is my favorite American holiday of all, because it is just the right mix of spirituality and patriotism, with awesome comfort food thrown in for good measure. Thanksgiving is a day to take a pause and think about the stuff that really matters, and to be grateful to our Creator for what He has given us. It doesn't matter if you believe in Hashem, the Trinity, or Allah; even if you don't believe in a Creator, and don't like roast turkey, hey, you're still welcome at the table. That's what makes America great, and why we should be thankful for her.
Dark days are looming for Detroit. There are going to be layoffs, plant closings, dislocations, bankrupcies, and foreclosures, at a horrible pace. But we have a lot to be thankful for, nonetheless. And we will pull through, eventually.
This is a generous land, full of generous people, blessed with natural wealth, and a tradition of law and liberty. I thank God for it.
I think Thanksgiving is my favorite American holiday of all, because it is just the right mix of spirituality and patriotism, with awesome comfort food thrown in for good measure. Thanksgiving is a day to take a pause and think about the stuff that really matters, and to be grateful to our Creator for what He has given us. It doesn't matter if you believe in Hashem, the Trinity, or Allah; even if you don't believe in a Creator, and don't like roast turkey, hey, you're still welcome at the table. That's what makes America great, and why we should be thankful for her.
Dark days are looming for Detroit. There are going to be layoffs, plant closings, dislocations, bankrupcies, and foreclosures, at a horrible pace. But we have a lot to be thankful for, nonetheless. And we will pull through, eventually.
This is a generous land, full of generous people, blessed with natural wealth, and a tradition of law and liberty. I thank God for it.
Sunday, November 23, 2008
Bailout Debate, Part 2a: More On Corporate Jets
A few data points to consider:
According to the Center for Responsive Politics (http://www.opensecrets.org), in the last several years, Rep. Gary "tin cups" Ackerman (D-NY) has accepted $31,131 in lobbyist funded travel.
Since 2006, Nancy Pelosi has accepted $29,361 in lobbyist funded travel.
From 2005-2006 Harry Reid has accepted $43,879 in lobbyist funded travel.
Nancy Pelosi was given a Boeing 757 so she could fly herself and her retinue from San Francisco to Washington D.C. non-stop, "for security reasons".
Will Speaker Pelosi downsize her plane so she will appear more modest to the taxpayer, who is directly funding her travels? Maybe she could fly commercial?
According to the Center for Responsive Politics (http://www.opensecrets.org), in the last several years, Rep. Gary "tin cups" Ackerman (D-NY) has accepted $31,131 in lobbyist funded travel.
Since 2006, Nancy Pelosi has accepted $29,361 in lobbyist funded travel.
From 2005-2006 Harry Reid has accepted $43,879 in lobbyist funded travel.
Nancy Pelosi was given a Boeing 757 so she could fly herself and her retinue from San Francisco to Washington D.C. non-stop, "for security reasons".
Will Speaker Pelosi downsize her plane so she will appear more modest to the taxpayer, who is directly funding her travels? Maybe she could fly commercial?
Wednesday, November 19, 2008
The New Mazda 3: Happy Happy Happy
I have always been a fan of the Mazda3, which is a spunky little car that doesn't make you feel like you are an underachiever for driving a compact car.
But when I saw the face of the new design, blech.
From this angle, it looks good:
Image courtesy of Edmunds
But from this angle:
Image courtesy of Autoblog
But when I saw the face of the new design, blech.
From this angle, it looks good:
Image courtesy of Edmunds
Image courtesy of AutoblogIt just looks so damn happy. To me, "zoom zoom" should have a touch of mean, not a huge toothless smile flying down the road. In a way, it reminds of me some Japanese anime critter. Just make the side mirrors into big flowing ears.
For contrast, here is the old one, not quite as happy:
Image courtesy of Edmunds
For contrast, here is the old one, not quite as happy:
Image courtesy of EdmundsBailout Debate, Part 4: Alternatives
Cheap loans are not the only way to aid the domestic auto industry, there are some other policies that might be a big help in the longer term, and insure the success of the short term loans. Here are a few:
1) Encourage demand. Congress could offer tax credits for people who buy a new vehicle (it could be only for fuel efficient vehicles, to pacify the Democrats). Congress could make interest on new vehicle loans tax deductible.
2) Limit supply. If we placed import tariffs on certain foreign manufacturers who are determined to be unfairly supported by their governments, or whose governments don't allow free entry to U.S. made cars (Hyundai/Kia, for example), we could help domestic car sales. Or, perhaps, import tariffs on car makers who do not meet CAFE standards (BMW). Ronald Reagan is credited with saving Harley Davidson by slapping a 45% import tax on foreign made motorcycles.
3) Buy vehicles directly. The federal government could go on a buying spree, and replace most of its fleet of official vehicles with new ones. It could also give grants to the states to do the same. Consider all of the cars and trucks that the military, police, and other agencies must have.
4) Ensure availability of car loans. The government could take steps to require banks who have accepted TARP funds, and who are in the car loan business, to write car loans to people who have jobs and reasonable credit scores.
1) Encourage demand. Congress could offer tax credits for people who buy a new vehicle (it could be only for fuel efficient vehicles, to pacify the Democrats). Congress could make interest on new vehicle loans tax deductible.
2) Limit supply. If we placed import tariffs on certain foreign manufacturers who are determined to be unfairly supported by their governments, or whose governments don't allow free entry to U.S. made cars (Hyundai/Kia, for example), we could help domestic car sales. Or, perhaps, import tariffs on car makers who do not meet CAFE standards (BMW). Ronald Reagan is credited with saving Harley Davidson by slapping a 45% import tax on foreign made motorcycles.
3) Buy vehicles directly. The federal government could go on a buying spree, and replace most of its fleet of official vehicles with new ones. It could also give grants to the states to do the same. Consider all of the cars and trucks that the military, police, and other agencies must have.
4) Ensure availability of car loans. The government could take steps to require banks who have accepted TARP funds, and who are in the car loan business, to write car loans to people who have jobs and reasonable credit scores.
Bailout Debate, Part 3: Motivations
I think that some of the motivations behind the mostly Republican anti-bailout and mostly Democrat pro-bailout positions are not the ones commonly being discussed.
The Democrats want to loan the Detroit 3 in part because they owe the UAW big for the recent election victories. If the Detroit 3 slide into Chapter 11, the UAW will be hurt very badly, as an oganization. The Democrats, and Obama in particular, have a goal of making unions stronger (card check). Says Newt Gingrich:
The House Democrats have written loan legislatio which has strings attached (you can read it here), which require the Detroit 3 to make "greener" cars:
The Republicans don't want to loan the money outright, but instead keep demanding that the Democrats re-write the already passed (and previously commented on by me) Advanced Technology Vehicle Manfacturers Assistance Plan to remove the environmental requirements, and spend the money as aid right away. This is because they want to jam the environmental lobby, I suspect.
The Democrats want the original $25 Billion ATVMAP left in place, and another $25 Billion carved out of the TARP funds. So, sort of unmentioned in all of this, is that the Democrats are really advocating for $50 Billion in low-cost loans--$25 Billion now, and $25 Billion later.
Some Republicans and conservative commentators are saying that Chapter 11 protection is a smarter choice for the Detroit 3, so they can shed their legacy obligations. What this really means is, "let's stick it to the UAW".
The Democrats want to loan the Detroit 3 in part because they owe the UAW big for the recent election victories. If the Detroit 3 slide into Chapter 11, the UAW will be hurt very badly, as an oganization. The Democrats, and Obama in particular, have a goal of making unions stronger (card check). Says Newt Gingrich:
To reward the unions that helped produce its electoral victory, the newly empowered Democratic Congress is proposing that American taxpayers pony up $25 billion to bail out the Detroit Three automakers, Ford, GM and Chrysler.
The House Democrats have written loan legislatio which has strings attached (you can read it here), which require the Detroit 3 to make "greener" cars:
‘‘(1) achievement of the fuel efficiency require10The House legislation also bans excessive executive compensation and "golden parachutes", which is more populist pandering and soak-the-rich, as usual.
ments and commencement of domestic advanced
technology vehicle manufacturing as authorized in
the Energy Independence and Security Act of 2007;
The Republicans don't want to loan the money outright, but instead keep demanding that the Democrats re-write the already passed (and previously commented on by me) Advanced Technology Vehicle Manfacturers Assistance Plan to remove the environmental requirements, and spend the money as aid right away. This is because they want to jam the environmental lobby, I suspect.
The Democrats want the original $25 Billion ATVMAP left in place, and another $25 Billion carved out of the TARP funds. So, sort of unmentioned in all of this, is that the Democrats are really advocating for $50 Billion in low-cost loans--$25 Billion now, and $25 Billion later.
Some Republicans and conservative commentators are saying that Chapter 11 protection is a smarter choice for the Detroit 3, so they can shed their legacy obligations. What this really means is, "let's stick it to the UAW".
Bailout Debate, Part 2: Corporate Jets, SO WHAT?
Several of the Representatives brought up the fact that, gasp, CEOs of big companies fly in corporate jets.
Rep Ackerman (D-NY):
How many of the congressmen have accepted free rides in the "private jets" of lobbyists? How many have used taxypayer funded military transport?
And what about this private jet here, the Obama express?
Hitting the CEOs for flying corporate planes is nothing more than grandstanding and class warfare.
That being said, apparently the CEOs don't have anyone with half a brain working for them in PR--surely, some in the business could have predicted that the press and Congress would jump on them if they showed their high status.
Rep Ackerman (D-NY):
"There's a delicious irony in seeing private luxury jets flying into D.C. and people coming off of them with tin cups in their hand. It's almost like seeing guys show up in the soup kitchen in high hat and tuxedo...Couldn’t you all have downgraded to first-class or at least jet-pooled together?"Look, these guys are payed like $5000/hr. I can see how it would be silly to have them waste time going through security pat-downs at Detroit Metro. You want them kept busy.
How many of the congressmen have accepted free rides in the "private jets" of lobbyists? How many have used taxypayer funded military transport?
And what about this private jet here, the Obama express?
Hitting the CEOs for flying corporate planes is nothing more than grandstanding and class warfare.
That being said, apparently the CEOs don't have anyone with half a brain working for them in PR--surely, some in the business could have predicted that the press and Congress would jump on them if they showed their high status.
Subscribe to:
Comments (Atom)