Bailout Dies, Sending The Right Message

Yea, for now. In the auto industry’s economic troubles, or rather, the Big 3’s economic troubles, opportunities abound. Resisting the knee-jerk reaction to ‘rescue’ the Big 3 by simply throwing good money after bad, it is time to turn the lemon into lemonade by showing the socialist world how free-market economies recover from setbacks without government intervention. The path toward regaining profitability is through procedures called a Chapter 11 bankruptcy. Companies that can successfully reorganize and restructure will rescue themselves and all the jobs that go with it. And to the survivors go the rewards. Rewards to consumers, auto workers, stockholders, and the companies themselves.

Proponents, including the outgoing and incoming Administrations, of the misnomer of a process called a bailout, are saying that a bailout is necessary in order to avoid a disorderly bankruptcy process. They say this with a straight face, as though a government takeover, a nationalization, auto Czar and all, of the auto industry, including new rules on what kind of cars they have to make, will be an orderly and fiscally responsible action. A responsible action is one that gives the Big 3 a chance to reorganize into a company that can make a profit again. The ‘bailout’ plan is nothing more than a nationalization of a failing business model with taxpayers footing the bill with no end in sight.

Today, the Senate did the right thing by sending the right message to the White House,the Big 3, and the UAW.

link:

Patrick Fitzgerald, Still The Prosecutor's Prosecutor?

Can we be confident that the man who prosecuted the Valerie Plame ‘leak’ incident, U.S. Attorney Patrick Fitzgerald, will get to the bottom of the bribery and racketeering scandal surrounding Illinois Gov. Rod Blagojevich?

Patrick Fitzgerald had the reputation of being non-political and determined to investigate everything. To let the investigation take him where it will. That’s what he said he did in the Plame case (where he never had to answer why nobody was charged with the leak). This sounds good, but look at his record.

Continue reading Patrick Fitzgerald, Still The Prosecutor's Prosecutor?

Could Newspapers Be The Next Bailout?

That newspaper publishers are in tough times is nothing new. Circulation and advertising have been falling for a few years now. And when you consider what percentage of their advertising revenue depended on car dealers, they are seeing their difficulty being compounded.

A snapshot from today’s headlines should tell you how newspapers are going have to be creative, from a purely business standpoint, in order to survive.

The ill-advised bailouts we’ve already seen do not justify yet another one for this industry. Like automakers, this industry needs to change to meet the times as well. But not at taxpayers’ expense.

Some on the left are falling back to another FDR program, focusing on the writers that are finding themselves out in the job market. About 15,000 of them so far. So what kind of make-work program would this ‘Federal Writers Project’ look like you ask?

Right out of the Saul Alinsky and Bill Ayers handbook . . .

Today, there are many dislocated “old media” journalists from newspapers, radio, and television on the street–here I declare my personal interest, as one of them–who could provide a skilled pool to staff a new FWP. But since these journalists represent only a fraction of the larger displaced workforce, it is fair to ask what the public benefit would be of money spent.

This time, the FWP could begin by documenting the ground-level impact of the Great Recession; chronicling the transition to a green economy; or capturing the experiences of the thousands of immigrants who are changing the American complexion. Like the original FWP, the new version would focus in particular on those segments of society largely ignored by commercial and even public media. At the same time, the multimedia fruits of this research would be open-sourced to all media, as well as to academics. As an example, oral history as a discipline has made great strides in the past 70 years, and with the development of video techniques, the forum of the Internet could make these multi-media interviews widely available to schools and scholars, as well as to average Americans.

And how it might work? According to Mark I. Pinsky at The New Republic, it would, naturally, involve colleges and universities, liberals’ home away from home to manage the program.

Administering the new FWP as an individual grant program through community colleges and universities could minimize bureaucracy and overhead. In consultation with the Obama administration–perhaps through the National Endowment for the Humanities–and Congress, guidelines could be established and a small staff assembled in Washington to oversee the projects, in the form of grants, rather than hourly wages. Projects could be pitched locally to colleges, or suggested and posted by them, vetted preliminarily and then approved or rejected by the national staff.

If the Obama administration decided to include the newspaper publishing industry in some kind of bailout, wouldn’t that be a conflict of interest?

link: Write Now

UPDATE: 17:20, This morning Tribune Co. was reported to be considering Chapter 11. They have now filed for Chapter 11 bankruptcy.

What Obama's Change Is Like

From Barney Frank whining that Obama needs to start being President six weeks before his inauguration, to one campaign promise after another going by the wayside, to the CHANGE that Barack Obama will bring to Washington, here is what it looks like so far.

Overall, the people Obama is relying on to build his administration have represented unions; energy, environmental groups, insurance, and drug companies; Wal-Mart; the National Association for the Advancement of Colored People; and the lobbying arm of the Washington-based Center for American Progress. The center is a think tank headed by John Podesta, former chief of staff to Bill Clinton and now co-chairman of Obama’s transition.

Had he told us the change he had in mind was to let lobbyists and special interests set up an administration for him, the election might have turned out differently.

What we have and what we are seeing, is what you get when you have a President-elect with no experience on the national stage other than running to be one.

link: AP IMPACT: Donors, lobbyists help Obama get ready

Martha Stewart Does Cheesesteak A-B Test

Much more than a food critic, but no doubt a food expert in one sense or another, Martha Stewart is ambushed into a cheesesteak A-B test of cheesesteaks from Pat’s and Geno’s in Philly. The video makes it look like an ambush.


Too bad it was such a limited sample. I could suggest a ‘C’ to that comparison, but I would be totally prejudiced by suggesting one from Philly’s.

It's Over

Well, whatever it was that cause The Lunch Counter to not load for the last 24 hours has gone. My apologies to those who tried and got a 500 error. Sometimes I think that Network Solutions has issues with WordPress. At any rate, things seem to be back to normal now. Catch up now and see the stocking stuffers offered by Planned Parenthood and William Jefferson (D-LA) losing his re-election to his Loisiana District 2 seat the House.

Rep. William Jefferson (D-LA) Ousted

Republican Anh 'Joseph' Cao waves as he holds his daughter Betsy Cao, 4, with his wife Kate Hieu Hoang, right, at his victory party after defeating Rep. William Jefferson, D-La. (AP Photo/Alex Brandon)

After losing his re-election bid in Louisiana’s 2nd district with a 50-47 percent result, indicted Democrat William (dollar bill) Jefferson did not concede his loss to the Republican challenger Anh “Joseph” Cao, the first Vietnamese-American in Congress.  Instead, he blamed the voters for not turning out.

‘I think people just ran out of gas a bit,’ he said. ‘People today flat didn’t come out in large numbers.’

Speaking to Jefferson’s bribery and racketeering charges, one Democrat voter who voted for Jefferson highlighted one of our key principles of the justice system afforded to Democrats who get into trouble with the law.

‘People are innocent until proven guilty,’ said Faye Leggins, 54, an educator and Democrat who moved back to the city six months ago.

The voters of Louisiana let Speaker Nancy Pelosi (D-CA) off the hook by doing what she should have done years ago. Of course, if Jefferson were a Republican, we wouldn’t be talking about this 552 days after an indictment.

link: Louisiana voters oust indicted Rep. Jefferson

Stocking Stuffers From Planned Parenthood

Oh the sign of the times. ‘Takes the worry out of being close.’ That was the sales pitch for an underarm deodorant in the 60’s, Ban. Things have changed a little since then. Now, Planned Parenthood has a gift giving idea designed for women only.

Hello, I’m Jane, I think I’m pregnant. This just is not be acceptable for the captain of the cheerleaders, so I want to use my abortion gift certificate. Thank you very much.

The 2008 version of the slogan is now, ‘Planned Parenthood, it takes the worry, and responsibility, out of being close.’

In this video, Rush Limbaugh comments on this sign of the times in a way that only Rush can.

link: Planned Parenthood offering gift certificates

NewsBustedTV

Topics in this edition include

  • UN gets into action after terrorist attacks in India
  • Barack Obama comments on the situation
  • Obama criticized for creating “office of the president-elect”
  • In November, not a single U.S. casualty in Iraq
  • Jessica Alba to play a math genius in a movie
  • Paris Hilton and Paul “Pee-wee Herman” Reubens team up

NewsBusted is a comedy webcast about the news of the day, uploaded every Tuesday and every Friday. If you like the show, be sure to tell your friends and family!