Wednesday, January 28, 2009

Some Democrats Among Stimulus Skeptics - Why?

More at washingtonpost.com: “President Obama, who promoted the $825 billion package at the Capitol yesterday, says the proposal serves two functions -- creating jobs and stimulating the economy in the short term, and laying the groundwork for overhauls in energy, health care and infrastructure that would be felt for decades. But some administration supporters say that while they appreciate Obama's intent, the two goals are competing with each other, and that the package could end up missing both targets.

In testimony before the House Budget Committee yesterday, Alice M. Rivlin, who was President Bill Clinton's budget director, suggested splitting the plan, implementing its immediate stimulus components now and taking more time to plan the longer-term transformative spending to make sure it is done right.”

-- What I don't get is why some Dems are waisting time in doing something to solve this problem. It's almost as if some officials are afraid to 1) take action because it 2) may work, making Obama 3) even more popular. I don't think it's just the GOP who has jealously regarding President Obama. Meanwhile the economy continues to tank.

Tuesday, January 27, 2009

ABC News: High-Flying Citigroup Grounds Plans for $50M Jet

More at ABC: “The high-flying execs at Citigroup caved under pressure from President Obama and decided today to abandon plans for a luxurious new $50 million corporate jet from France.

The bank used TARP funds to purchase a new corporate jet for executives.
The decision came 24 hours after the banking giant, which was rescued by a $45 billion taxpayer lifeline, defended buying the state-of-the-art Dassault Falcon 7X -- one of nine to be flying in U.S. skies -- as a smart business deal.

The jet, the epitome of corporate prestige and privilege, can carry 12 passengers in elegant comfort.

ABC News has learned that on Monday officials of the Obama administration called Citigroup about the company's new $50 million corporate jet and told execs to "fix it."”

-- Thank God for Obama! That $50 million could be used for a plan to extend emergency credit to small businesses in selected cities. Wow, the desire to waste money among those who have it. Fortunately, we have a President who's putting a stop to this.

Oakland State of The City Dellums Speech Highlights

Oakland Mayor Ron Dellums gave a great 2009 State of The City Address but it was twice interrupted by Oaklanders concerned about the matter of police brutality in the wake of the murder of Oscar Grant by BART Police Officer Johannes Mehserle two weeks ago. The Mayor responded to them well. Later, I talked with new At-Large Councilmember Rebecca Kaplan and Brother Keith Muhammed on their views of Dellums' speech.

Monday, January 26, 2009

Pfizer, Caterpillar and Home Depot Layoff 40,000 Today

More at Huff Post: “WASHINGTON — The recession is killing jobs at an alarming pace, with tens of thousands of new layoffs announced Monday by some of the biggest names in American business _ Pfizer, Caterpillar and Home Depot.

More pink slips, pay freezes and other hits are expected to slam workers in the months ahead as companies desperately look for ways to survive.

"We're just seeing the tip of the iceberg _ the big firms," said Rebecca Braeu, economist at John Hancock Financial Services. "There's certainly other firms beneath them that will lay off workers as quickly or even quicker."

Looking ahead, economists predicted a net loss of at least 2 million jobs _ possibly more _ this year even if President Barack Obama's $825 billion package of increased government spending and tax cuts is enacted. Last year, the economy lost a net 2.6 million jobs, the most since 1945, though the labor force has grown significantly since then.

The unemployment rate, now at a 16-year high of 7.2 percent, could hit 10 percent or higher later this year or early next year, under some analysts' projections.”

-- And how many people do we need to have jobless before we call this a Depression?

"Crude" Movie Lies - The Movie "Crude" Forgets About Ecuador

There's a new movie out called "Crude" which is a kind of documentary about the Ecuadorian oil spill problem. The trouble is, it forgets about how Petroecuador shirked its responsibility in maintaining the oil production facilities left behind after the transfer from Chevron / Texaco in 1998. I explained that in this video:



And now, there's a new website outlining the lies of "Crude" and called "Crude Movie Lies".

Raw Video: Blagojevich Prepares for PR Blitz - Associated Press

AssociatedPress - Illinois Governor Rod Blagojevich is in New York City this morning for a public relations blitz. He will appear on several morning talk shows. His impeachment trial also starts today in the Illinois capital. (Jan. 26)

The Underground Chinese Hip-hop Movement

TheNewYorkTimes - Underground Chinese Hip-hop, which is growing in popularity amongst students and working class Chinese, is a profitless, and often subversive, activity for its practitioners.