Oakland City Auditor Attacks Financial Reporting, CAO Lindheim Insults Auditor

This shows Oakland CAO Dan Lindheim (in photo) can dig his own hole fast.

The Chief Administrative Officer of Oakland, who's days are numbered in the wake of Jean Quan's victory to become Oakland's Mayor-Elect, insulted Oakland City Auditor Courtney Ruby, saying she "clearly shows a lack of understanding of the City's financial system and the reporting of its assets," as reported by the Oakland Tribune.

This blogger, who worked for two of the last three Mayors of Oakland, has seen a ton of examples of hubris, including from myself, but nothing to match what Dan Lindheim wrote about the City Auditor's Report of The Community and Economic Development Agency (CEDA), and by extension, Courtney Ruby herself.  (Here's Dan in my video from his press conference on The Oakland Police.)

Ruby, who beat back an election challenge from Michael Killian, landing 66.93 percent of the vote, wasted no time in presenting her CEDA loan fund audit report to part of the media. (Here's hoping she looks at the Oakland Coliseum next.)

Here's hoping that Ruby gets better at distributing information to all of the media, too. Like many in Oakland City Hall (except Karen Boyd and the Mayor's Office, and the Oakland City Attorney), her staff seems to think people read newspapers a lot. They don't. It's one reason why newspaper ad revenues are consistently falling. Next time Courtney, send a link to the online report to me. Right now, it's not available!

But I digress.

The City Auditor's Report says that CEDA had something like $14 million in loans it issued (which CEDA does to help businesses and homeowners), but had not written off. Ruby claimed this shows that the City's financial reporting system can't be trusted. If that's the case, the City of Oakland really doesn't know what kind of financial shape it's in.

All of that reflects on Dan Lindheim, who's job it is to issues the reports. The naturally prickly Dan responded in a way that was politically stupid, claiming the City Auditor basically doesn't know what she's doing.

 Either Dan has a good new job to go to after the City of Oakland, since Quan's looking for his replacement, or he's independently wealthy. No municipality will touch someone so willing to openly blast the results of an audit with an insult of the auditor.  

Maybe Dan's going to become a blogger?

Stay tuned. Oh, here's the Trib article.

Is Bank Of America In Financial Trouble? #BofA

Is Bank of America in financial trouble? Will Bank of America, tagged #BofA on Twitter, ask for another TARP bailout? Alternet thinks so. This is what that news website reports:

When former Treasury Secretary Hank Paulson was handing out trillions to Wall Street, BofA collected $45 billion from the Troubled Asset Relief Program (TARP) to stabilize its balance sheet. It was spun as a success story -- a rebuke of those who urged the banks be put into receivership -- when the behemoth “paid back” the cash last December. But the bank’s stock price has fallen by more than 40 percent since mid-April, and the value of its outstanding stock is currently at around half of what it should be based on its “book value” -- what the company says its holdings are worth.

“The problem for anyone trying to analyze Bank of America’s $2.3 trillion balance sheet,” wrote Bloomberg columnist Jonathan Weil, “is that it’s largely impenetrable.” Nobody really knows the true values of the assets these companies are holding, which has been the case ever since the collapse. But according to Weil, some of BofA’s financial statements “are so delusional that they invite laughter.”

From this video blogger's standpoint, who's a customer of Bank of America, let's hope they're not in trouble. Besides, they've still got to fix this episode of bad service:



For more on the Alternet claim, read the account here.

Internet Ad Revenue Record: New Media Beats Old Media In Ad Revenue Reports

Continuing a long-term trend, online (or Internet) advertising revenue increased 17 percent in the 3rd Quarter of 2010 when compared to the same period in 2009.  Internet ad revenue set a record in the process hitting $6.4 billion, according to the The Interactive Advertising Bureau.

The The Interactive Advertising Bureau, or IAB, represents "86 percent" of the providers of online (or Internet) advertising. But while that information may appear to have a taint toward "New Media" - the IAB's not reporting what's happening with radio, print, and local ad revenues - the news for "Old Media" is not pretty.

MediaPost reports that while the IAB data is up, traditional, or "Old Media" revenues are "not faring nearly as well."

3rd Quarter newspaper ad revenues are down 3.7 percent.

MediaPost:

...total newspaper ad revenues declined about 3.7% in the last quarter. That follows declines of 9.7% in the first quarter and 5.5% in the second quarter, according to the Newspaper Association of America.

A third-quarter loss would make it the 17th quarter of straight declines for the newspaper business. The industry's decline over the last couple of years has been dramatic: Total revenues of $12.4 billion in the first half of 2010 are down 47.3% from $23.5 billion in the first half of 2006.

MediaPost reports that ad revenue from consumer magazines, newspapers, radio, and local ads from broadcast radio regionally, have recovered from last year, but at gains best described as "lackluster."  Moreover, the trend toward moving ad spending online has only increased.  

Thus, for online and mobile publications, the ad revenue future is very promising.  But this good climate also causes one to ask hard questions, like why is the online publication The Daily Beast losing a reported $10 million a year? (A number Salon's Scott Rosenberg disputes, but doesn't come up with an alternative loss estimate.)  

Stay tuned.

Simpson, Thacher & Bartlett LLP Loses Round in $100 M PrediWave Fraud Case

In the latest chapter of this complicated six-year-old tech industry story this blogger covered on March 22, 2010, the law firm Simpson, Thacher & Bartlett LLP (an 800-employee business litigation firm with offices in New York and Palo Alto, as well as seven other cities worldwide) lost another round in its attempt to "shut up" former PrediWave outside Director Jimmy Li. Li was attempting to investigate PrediWave company documents and conducting an investigation that would reveal the misconduct of Former Tech CEO Jianping “Tony” Qu, once the head of PrediWave Corporation.

Jianping “Tony” Qu was reported to have "taken off" with $100 million in bonuses, leased 30 cars and purchased a whopping 19 homes. Simpson, Thacher & Bartlett was alleged to have been involved in a cover-up of Mr. Qu's actions. Why? That's not known. Here's the timeline of original events, as repeated from this blogger's last post, but adjusted to make the story clearer:

1) Attorneys for Simpson Thacher became aware by December 1, 2004 that Mr. Qu was directing the sale of tens of millions of dollars of memory chips to PrediWave through a shell corporation whose profits were pocketed by Mr. Qu.

2) Simpson Thacher uncovered evidence showing that delivery records and price quotes from a non-existent Chinese company were falsified, while the memory chips themselves were purchased from a tech firm operating only a few miles from PrediWave’s Fremont headquarters.

3) Mr. Qu was paid a $25 million bonus in January 2005 while Simpson Thacher sat on the evidence it had gathered regarding his activities.

4) Attorneys for Simpson Thacher filed a lawsuit in May 2004 preventing two PrediWave directors, one of them PrediWave outside Director Jimmy Li, from reviewing company documents and conducting an investigation that would reveal Mr. Qu’s misconduct.

5) In 2005, Simpson Thacher chose to hire a private investigations firm, not for the purpose of exposing Mr. Qu’s actions, but to determine the probability of the fraud going public. Simpson Thacher never disclosed the results of that investigation to PrediWave’s board of directors, which included PrediWave outside Director Jimmy Li.

6) While serving as PrediWave’s counsel for only little over a year, Simpson Thacher billed over $16 million in legal fees. At the same time, Mr. Qu was receiving approximately $25 million in annual bonuses from a company that had recorded no sales and no profits.

Thus, there are two "bad guys" here: Mr. Qu and Simpson, Thacher & Bartlett LLP. The "good guy" is Jimmy Li, and thank to Justice Patricia Bamattre-Manoukian, of the Sixth District of the California Court of Appeal, the good guy's winning.

This is what the press release reports:

Justice Patricia Bamattre-Manoukian, writing on behalf of the Sixth District of the California Court of Appeal, affirmed the denial of Simpson Thacher’s motion in the malicious prosecution lawsuit brought by former PrediWave outside Director Jimmy Li. This is the latest in a string of adverse rulings against the law firm, which is facing charges of massive fraud leveled by its former client PrediWave. Li’s malicious prosecution lawsuit has been deemed a “related case” to the PrediWave fraud case by the Santa Clara Superior Court, where both cases are proceeding.

What's not explained is why  Simpson, Thacher & Bartlett, once a client of the now bankrupt PrediWave, would "sit on" the evidence against Mr. Qu, unless they were in on the "take" themselves.    In working to thwart investigation of the actions of Mr. Qu, Simpson, Thacher have worked to destroy the career and the reputation of Jimmy Li, and have failed, only throwing dirt on its own reputation in the process.

Stay tuned.

Eva Longoria and Tony Parker: Divorce Papers Filed After Cheating Scandal

Eva Longoria filed for divorce yesterday from her husband of 7 years, Tony Parker. The divorce is the result of Tony Parker getting caught with hundreds of text messages from a mutual friend of the couple. They haven't released who the other woman is but it's rumored that she is the wife of one of Tony Parker's teammates.

A representative of Eva Longoria denied the rumors that the couple was getting a divorce, but Eva Longoria filed the necessary paperwork the following day, Wednesday, November 16th. Eva Longoria cited, "irreconcilable differences" as her reason for seeking a divorce with NBA star Tony Parker.  The divorce papers also stated that the star of "Desperate Housewives" will be seeking spousal support from Tony Parker.  Whether or not this will happen though is unknown because the couple has a pre-nuptial agreement.

Longoria confirmed the impending divorce on her twitter account where she stated that "It is with great sadness that after 7 years together, Tony and I have decided to divorce. We love each other deeply and pray for each other’s happiness." 

This statement indicates that the decision was mutual.  "Tony and I have decided to divorce," yet many sources claim that Tony Parker is desperate to get Eva back.  This is of course all rumors, but given the fact that Eva Longoria is one of the most attractive human beings on the planet I'm betting that the rumors are true.  Why someone wouldn't do anything they could to keep Eva Longoria is beyond me.  Then again, why anyone would cheat on her in the first place is beyond me as well.  Whether or not the decision is mutual is inconsequential.  Many sources have reported that Eva Longoria is inconsolably heart broken over the betrayal.  A friend of hers reported that "Once the trust was gone. the marriage was over."

The silver lining in this whole situation?  Eva Longoria is soon to be single boys!  All kidding aside though it's tough when couples split up and hopefully they make it through the troubled times ahead.

John Bobst
www.theforceofnature.net
www.doyouseewhatyouget.com

John Bobst

Ryan Reynolds Sexiest Man Alive? Who Cares! Green Lantern And Scarlett!

Today is Ryan Reynolds day. The actor's scoring a rare double PR hit, being named People Magazine's Sexiest Man Alive, and starring as Hal Jordan in The Green Lantern Movie Trailer. But really, this blogger doesn't care about Ryan Reynolds's as "Sexiest Man Alive" because, given the Old Spice Commercial spoof from a few months ago that I was in, Ryan's met his match.

But Ryan Reynolds is definitely kick-ass in The Green Lantern Trailer. He plays a combination of the Top Gun fun loving white frat guy type and the person he transforms into: one of the Guardians of the Universe.

Here's the trailer:



Other than The Green Lantern, Ryan Reynolds is notable for being married to Iron Man II star Scarlett Johansson. This was an incredibly played role. OK, it wasn't a heavy part, but Scarlett stole every scene she was in. Here's a review of her work by Reelz Channel:



Ryan Reynolds, today's your day. Enjoy!

Ryan Reynolds Sexiest Man Alive? Who Cares! Scarlett Johansson All Day!

The Internet's buzzing because Ryan Reynolds, who plays Air Force Pilot Hal Jordan, who becomes "The Green Lantern", in The Green Lantern, was named People Magazine's Sexiest Man Alive.

 This blogger says "who cares" because the one person we're really interested in, happens to be the woman he's currently married to: Scarlett Johansson.

What this blogger give props to Ryan Reynolds for is a kick-ass portrail of Hal Jordan, in an equally kick ass trailer for The Green Lantern. And if you haven't seen the trailer, here it is:



Other than that, and being married to Scarlett Johansson, who was amazing as "The Black Widow" in Iron Man II, what do we give Ryan Reynolds props for? Ok. Being cool.

Ryan Reynolds came to Comic Con and recited The Green Lantern oath for a nine-year old boy. Here's the video:



Then, Reynolds gave him an autographed photo backstage.

That is why Ryan Reynolds is cool. Sexiest man alive? Who cares.

Ryan Reynolds: Green Lantern Movie Trailer

After a ton of excitement generated by his Comic Con debut as "The Green Lantern" it's out, the Ryan Reynolds: Green Lantern Movie Trailer.

It features Ryan Reynolds as Hal Jordan and quickly takes us from his career as an Air Force pilot, to how "the ring found" him, to his struggles with fear and being a Green Lantern.

The Ryan Reynolds: Green Lantern Movie Trailer reveals a film that is, in a way, in the style of another movie that is to be released in January: The Green Hornet.

The similarities are in how Ryan Reynolds and Seth Rogen's characters present the "fun-loving, wise-cracking, every-young-white college-educated frat guy" take. This is vastly different from comic-book-to-film movies like The Dark Night, Spider-Man, The Hulk, and the Iron Man series, where Tony Stark is a billionaire playboy along the lines of Oracle's Founder and CEO Larry Ellison.

What's the reason for this? It may have something to do with the fact that Spider-Man, The Hulk, and Iron Man are Marvel Comics characters, with production approaches that are a bit more controlled and thus truer to how the characters were in the comics. Thus, the DC Comics are, perhaps, less "controlled" and thus more reflective of the ideas of the production houses that aren't managed by DC commics.

This is speculation. Stay tuned for a follow-up. Meanwhile, enjoy the Ryan Reynolds: Green Lantern Movie Trailer.

Dancing With The Stars Bristol Palin Catalyst For Nutcase Gun Rampage

According to TMZ.com, a Wisconsin man named Steven Cowan became so enraged over Dancing With The Stars Bristol Palin's dancing Monday night, he got his gun and shot his television, before turning the weapon toward, of all people, his wife.

The obviously nutcase Steven Cowan told police that Palin's dancing awful and she was on the show only because of her famous mother, Sarah Palin. Cowan's wife fled their home to escape her husband's wild rantings while brandishing a gun. His behavior caused police to bring in the local SWAT team. (Let's hope his wife files for divorce after this story.)

Palin's Dancing Upsets Many

Bristol Palin's appearance on Dancing With The Stars has caused a massive uproar, which has become worse sense the famous teen mom beat Brandy in voting to determine which celebrity remains on the show; Brandy lost.

The result, and Dancing With The Stars' producer Conrad Green's statement that the TV show producers did not analyze voting patterns, caused bloggers to ask if the voting system could be and was rigged for Bristol Palin to win.

Cowan Charged With Reckless Endangerment

Mr. Cowan was charged with "reckless endangerment," a charge that could land him in jail for up to 10 years, if he's convicted.

Meanwhile, Bristol Palin has another PR problem. She and her younger sister Willow have been branded as "homophobic" after gay slurs were written by Willow toward a school mate, using Facebook.

More at TMZ.com.

Bristol Palin Beats Brandi On Dancing With The Stars? Voting Rigged?

The unbelievable happened Tuesday night, causing my Mom to say she would never watch Dancing With The Stars again. Ever.

The Kansas City Star said that Bristol Palin's fans ruined the show.

Bristol Palin, daughter of Sarah Palin, beat Brandi, which is another way of saying that Brandi was picked for elimination over Bristol Palin. It was all in the voting.

Voting not monitored by Dancing With The Stars producers.

Did Tea Party Movement assholes team up pick Palin over Brandi to make a statement? That's what many bloggers are speculating.  Why?

Because Palin's dancing was so bad at points,

This is what Death By 1000 Papercuts wrote:

We looked at several Tea Party forums and did find evidence of individuals in the comment section of one Sarah Palin site who bragged they’d voted multiple times for Bristol including one individual who boasted they’d voted for Bristol ’55 times’. Even so, were there literally ‘millions’ of Sarah Palin fans who racked up cell phone and text message bills to vote for Bristol? We doubt it as there were only a few individuals who admitted they’d voted multiple times for Bristol.

Was the ability to vote for Bristol more than once an ABC glitch? We don’t think so as we watched the entire season of the show and we can’t recall ABC warning viewers they could call or text only one ‘vote’. If individuals could vote more than once for Bristol there was ability of viewers to vote more than once for Jennifer Grey, Kyle Massey, and Brandy.

The problem is that Bristol Palin has earned lower dance scores than Brandi, yet stays on. It's a problem so large, the show's producers have made statements to calm the crowd. This is what Dancing With The Stars Producer Conrad Green told EW's Popwatch:

A little bit of a deep breath needs to be taken. If you look at the judges scores alone, undoubtedly, Brandy has been a better dancer throughout the competition. But the gap between her and Bristol has closed. One thing that people aren’t really taking into account [when it comes to Palin] is that a lot of viewers vote for improvement. Bristol has made a huge improvement. While she is obviously behind still in terms of technical ability, she’s that much closer than she ever was before.

There is a popularity contest element to it, but really we let the audience vote so they can put their spin on the results. Their spin could come from any number of sources. We don’t do research into how and why people vote. It might be because they like their teeth, they might come from the same state, it might be because they have always been a fan of their mother, it might be because they always liked their music. There are a million reasons people can vote. But we think its an important correction within the system. We get celebrities from all kinds of backgrounds and some people have got a lot more dance experience than others.

Don't do research into why people vote?

Is Green kidding?

In other words, the vote could be gamed, and the Dancing With The Stars
minders would never know it.

That's not good for the show or for America. It's certainly not good for Brandi.

Oakland News: Rash Of Assault Crimes At Adams Point

If you live in the Adams Point area of Oakland and walk at night, don't walk alone. There has been a rash of crimes in the area of late. For example, according to the Adams Point Yahoo Message Board, there were not one, but five muggings along Euclid Avenue.

All of the muggings were thought to have been done by a group of three black men, but that's not certain. Here are some of the notifications of what happened:

Monday, November 15th:

Hi neighbors,

My neighbor, a 20-year old Asian youth was just held up at gunpoint in
front of his house. The 2 African American men chased him and were
spotted by 4 concerned neighbors (alerted by his yelling) before they
ran up to their get-away car - a 4 door blue or black sedan with a
driver and sped away.

According to the police who arrived in minutes - this was their FIFTH
mugging within the hour between Lakeshore and the Laurel.

They followed my neighbor home and mugged him as he got out of his car.

They are currently on the loose and people should be very concerned and
lock your doors (as one of these robberies with the same motive in the
past week was a home invasion).

If you see anything looking like our suspects, please call the police
asap - as they are basically chasing these guys around town.

It's not clear if the person or persons who responsible were eventually nabbed by the CHP, but the overall point of this is to get to know people. A number of female members at Gold's Gym, as one example, walk alone and for long distances. There's also the Sidebar Restaurant, just down the street. Walk with someone from the gym or Sidebar, anyone. (As I write this, I'm in Georgia, so it's not about me. Seriously.)

We have a problem in the neighborhood where a black person like myself doesn't get robbed, but whites are a bigger target. Racism? Yep.

One way to combat this if you walk alone and insist on doing so, is to hold your head up and walk without fear. As silly as this sounds, it's really effective. Part of the issue is the expectation that something bad will happen. Take that out of your head.

But the best thing is to just not walk alone.

PGA Golfer Erica Blasberg Death - Dr. Thomas Hess Should Talk

Erica Blasberg. For some reason, this blogger thinks is spiritual, her name keeps coming back. Blasberg is the 25-year old PGA female golfer who died in her home about eight months ago outside of Las Vegas, Nevada.

 Reports were that she committed suicide, but her parents don't believe that. The last person she was seen with is a guy named Dr. Thomas Hess.

In August, after an investigation that took four months to complete, Nevada law enforcement arrested Dr. Thomas Hess.

 He posted bail, but in the process gave them little to go by and took a suicide note and meds from her place. In short, Hess's not talking much, which means he knows something.

And, again, what did the suicide note that Hess removed from her home read?  A question till not answered.

Stay tuned.