Showing posts with label Business. Show all posts
Showing posts with label Business. Show all posts

Wednesday, November 07, 2007

New Community Debt after Election

Well we have had our day at the polls and for the most part the sheeple have spoken... Below is a list of every bond proposal that was on a ballot in the greater Houston area that passed.

State Level
PROPOSITION 2 Allows the issuing of $500 million in general obligation bonds
PROPOSITION 4 $1 billion in bonds
PROPOSITION 15 authorizes issuance of up to $3 billion in bonds
PROPOSITION 16 general obligation bonds $250 million

Harris County
Bond Prop. 1 ($190 million, roads)
Bond Prop. 2 ($95 million, parks)
Bond Prop. 4 ($80 million, forensic center)
Bond Prop. 5 ($70 million, family law center)
Bond Prop. 6 ($250 million, Port of Houston)

Houston
Bond Prop. 1 ($36.85 million: streets, sidewalks, drainage)
Bond Prop. 2 ($22.995 million: public safety, emergency medical service, police, fire
buildings)
Bond Prop. 3 ($10.94 million: parks and rec facilities, aquatics facilities, and beautification)
Bond Prop. 4 ($7.17 million for East Baker Road extension)
Bond Prop. 5 ($2.525 million for Texas Avenue area improvements)
Bond Prop. 6 ($2.02 million for drainage improvements)

Houston ISD
Bond issue ($805 million)

Seabrook
Bond issue ($2.5 million for park)

Southside Place
Bond Prop. 1 ($4.5 million city hall)
Bond Prop. 2 ($1.3 million for Park Assn. clubhouse)

Spring Branch ISD
Bond issue ($597 million to rebuild 12 elementary schools)

Cypress-Fairbanks ISD
Bond issue ($806.8 million)

Brazoria County

Angleton ISD
Bond Prop. 1 ($98.6 million for land)
Bond Prop. 2 ($40.15 million for new football stadium and field house)
Bond Prop. 3 ($1.59 million for renovations, improvements)

Brazosport College
Bond issue ($70 million: classrooms,facilities)

Columbia-Brazoria ISD
Bond Prop. 1 ($12.8 million for renovations at Wild Peach Elem.)
Bond Prop. 2 ($3 million for renovations at Columbia High School)

Fort Bend
Fort Bend ISD
Bond issue ($428 million)

Chambers
CountyMont Belvieu
Bond issue ($11 million, roads, sewer, water)

East Chambers ISD
Bond Prop. 1 ($6 million for renovations, new classrooms)
Bond Prop. 2 ($3.5 million to build a new gym to replace existing unairconditioned facility)

Galveston County
Dickinson ISD
Bond issue ($107.5 million)
Friendswood ISD
Bond Prop. 1 ($91.1 million for a new junior high school campus, other campus upgrades)
Bond Prop. 2 ($1.8 million for football stadium upgrades, including the addition of 3,000 seats) Bond Prop. 3 ($6.5 million for a swimming facility)

Texas City ISD
Bond Prop. 1 ($109.7 million for new Texas City High School, Levi Fry Middle School and Kohfeldt Elementary; other improvements)
Bond Prop. 2 ($4.75 million technology improvements)
Bond Prop. 3 ($4.25 million for football stadium renovations, other athletic facilities)
Bond Prop. 4 ($3.8 million for renovation to the technology education support center and maintenance storage and shops)

Liberty County
Dayton
Prop. 1 ($11.9 million for library, community center, street improvements)
Prop. 2 ($795,000 for street, drainage improvements on Lover's Lane and South Cleveland)
Prop. 3 ($1.2 million for utility improvements at Lover's Lane and South Cleveland)


The Grand total of the bonds that were approved is $8,752,535,000.00, Yes that is eight BILLION Dollars. Now take that out over 30 years and with an interest rate of 5.25% and you are looking at nearly 22 Billion when all interest is included. The sad thing is the state just certified a budget with an 8 Million dollar surplus, and here we are looking at payments in the area of 750 Million a year on this obligation alone....

I know the answer to this, but do these people realize that this money will be coming out of their paychecks and mortgage payments in the form of property and sales taxes...

Tuesday, June 26, 2007

Headlines I have collected

Ex-Marine, 72, Teaches Pickpocket a Lesson
New Jersey mutt wins ugliest dog crown in California
Judge rejects $54 million lawsuit over lost pair of pants
Millionaire, 84, died fleeing Harris probate court
Disney to scrap lucrative direct-to-DVD animated sequels
Is Earmark Disclosure a True Measure of Transparency? Actually the question is do we actually have a conservative or at least honest democrat?
Embattled Duke Rape Case Prosecutor Mike Nifong Could Get Jail Time
Senate Votes to Increase Fuel Economy Standards in Cars, SUVs
Sens. Hillary Clinton, Barbara Boxer Dispute Conversation About Reining in Conservative Talk Radio So who do you believe, a moderate/conservative republican or two flaming liberals
Prince William Turns 25, Gains Part of Diana's Inheritance Now the question is will he be king instead of his father, and who will he marry....
Bush Administration Opposes Making Immigration Bill Easier on Employers
Vatican Reverses Annulment of Ex-Rep. Joseph Kennedy's First Marriage
Computer Hacking Plagues Department of Homeland Security
County rescinds Westpark Tollway fee hike
Plan for new taxes on oil companies stalls
N.H. Town Hopes to End Standoff Between Police and Couple Barricaded in Home Since January
FOHacker Claims to Have Posted 'Harry Potter' Plot on Internet
Police Say Washington Baby Died After Mom Taped Pacifier in Infant's Mouth
The perils of carving a path to the Taliban's front door
Fireworks sales likely to blast off
Duke prosecutor testifies; ex-lacrosse player weeps

Wednesday, February 14, 2007

Mayor seeks council OK on Houston WiFi plan

Mayor seeks council OK on Houston WiFi plan

Ok, more ways our Mayor is looking to make us a "world class city"
After announcing Tuesday that Internet service provider EarthLink has been selected to build the city's wireless network, Mayor Bill White wasted no time moving toward the next step — City Council approval.
The contract, which calls for EarthLink to invest nearly $60 million to build a network that would span Houston's 600 square miles, already is on the Thursday agenda of a council committee
So here we go looking to spend $60 Million dollars that could have been allocated to Police or Fire protection. Or maybe if it is actually Earthlink that is spending the money and not coming out of the pockets of Houstonians.

"Houstonians can look forward to a future in which we have better technology to create better jobs for our citizens, attract jobs for the future to our city, bridge the digital divide that will lift people up educationally in our community, to put us at the forefront of leadership in this nation," White said.
Another of the "World Class City arguments" It looks like they are going to use that bit of fluff until it is old and limp.

Richard Lewis, the city's information technology director who helped broker the agreement with EarthLink, is scheduled to give more details to the Transportation, Infrastructure and Aviation Committee Thursday.
Committee chairman Michael Berry said he expects the council to approve the contract, partly because White was personally involved in vendor selection.
Now I wonder what is Mr. Lewis going to gain out of this proposed contract, maybe a nice comfy position with Earthlink when he leaves the City IT department? And when did Councilman Berry become the yes man for Mayor White?

The service likely would not be available in enclave cities, White said.
"We haven't made contracts for, or committed assets in, and we wouldn't specify a service level for an incorporated area within the city," he said. "I assume that other incorporated areas in and around Houston will be looking at WiFi technology in the future."
So this means that there will be dead spots in the coverage area. Glad to know this up front.

Aside from gaining council approval, the project faces other challenges, Berryman said. The company hopes to lease the rooftops on various buildings to mount equipment. White is helping get property owners on board, offering a lease
price of up to $1,200 per month.
EarthLink has completed or is building municipal networks in several cities, but none nearly as large as Houston. In
Philadelphia, where the company expects to cover 135 square miles, it got solid reviews from Greg Goldman, CEO of Wireless Philadelphia, the nonprofit that has partnered with EarthLink for the build-out.

I wonder if this is really going to work, or not. I guess time will tell. My question is will enough people use it to make it a viable asset for Earthlink.

Tuesday, January 30, 2007

Headlines for Today

7 Large Tunnels Beneath U.S.-Mexican Border Raising Security Concerns

London Prison Changes Direction of Toilets in Respect to Islamic Law
The Wealthy Far More Likely to Be Audited on Their Taxes

Cops Taser Student Running Naked Through High School Cafeteria

Microsoft Releases Windows Vista to Masses

12-Year-Old Boy Becomes 14-Year-Old Girl, World's Youngest Sex Change Patient

Gaza Cease-Fire Between Hamas, Fatah Holding

Official: Siberian Girl Paid Teens $570 to Kill Parents

Saudi Official: We're Working With Lebanon to Calm Crisis in Iraq, Lebanon

WWII Vet, 84, Wins $254 Million Lottery Jackpot

Bonds passes physical, gets one-year deal from Giants

Super Bowl comes home

Hall of Famer Singletary to interview for Dallas job

If he returns, Clemens says it won't be full season

Greatest hits, in the palm of your hand

For Better or for Worse creator slowing down, not retiring | Chron.com - Houston Chronicle

For Better or for Worse creator slowing down, not retiring

First, the bad news: Lynn Johnston needs a break.
The cartoonist has, after all, written and drawn the popular comic strip For Better or for Worse for 28 years, in sickness and in health, without complaint, while Aaron McGruder (Boondocks), Bill Watterson (Calvin and Hobbes) and others griped, took extended hiatuses and retired.
"What wusses!" she exclaims.
But Johnston turns 60 this year, and she wants to do things in life that are difficult to do while producing 365 comic strips a year.
"I want to travel and study and paint, and I want to spend some time with friends and family," Johnston says.
"We're starting to get to the stage when you go to funerals and that's where you reunite with friends," she continues. "I want to be able to spend time with friends while they're still alive."
The good news, however, is that Johnston isn't retiring. Instead, the strip — which appears in more than 2,000 newspapers, including the Houston Chronicle — will be transformed in September into what Johnston calls "a hybrid" of new and old material.
She will continue to write and draw, but the new material will serve to frame flashbacks consisting primarily of recycled material. These strolls down memory lane also sometimes will contain new material that amplifies, embellishes or completes story lines of old.
For instance, Johnston mentions a character, Deena, who was absent from the strip for a long time without explanation. In her head she knew why Deena disappeared, but she never got around to drawing it. Now she will.
For the most part, however, the continuing saga of the Patterson family will end. Characters will stop aging. Existing story lines will be wrapped up before the change. Think of the new format as a long goodbye.
This creative solution to the problem of cartoonist burnout will lessen Johnston's workload while still making the strip available to readers daily.
"I wanted to retire completely," says Johnston, who has never taken a break from the strip. Her thinking always was, "If Charles Schulz can do it, so can I," she said, referring to the creator of Peanuts, who drew his strip for just short of 50 years, giving it up only weeks before he died Feb. 12, 2000.
"I don't know whether it's my age or that I was raised on hard work," Johnston says, but while other cartoonists complained about oppressive deadlines her feeling was, "You've got a job — do it."
But now she says she'd love to be able, for the first time in almost three decades, to take a two-week vacation without first laboring nights and weekends to finish two weeks' worth of strips in advance.
Contributing to her decision is a neurological disorder — dystonia — that, though mostly in check, causes tremors.
It comes in handy when door-to-door salesmen visit. "I come to the door already shaking my head no," Johnston says with a laugh.
It's not nearly as bad as the tremors Schulz had in his later years that caused him to draw wiggly lines.
"I watched Sparky draw," Johnston says, using Schulz's nickname. "He had to hold his right hand with his left hand to keep it still."
Johnston's condition doesn't affect her drawing. She does, however, use assistants to do the lettering and to ink most of the drawings. Johnston draws everything in pencil and inks the characters but not the backgrounds.
When Johnston told Universal Press Syndicate, the company that distributes the strip to newspapers, that she planned to retire, executives suggested offering reprints to newspapers, similar to what United Feature Syndicate did with Peanuts after Schulz stopped drawing.
"That had never occurred to me," Johnston says. She came up with the idea of updating the material and framing the flashbacks with new work "to keep my hand in," she says.
Before the late 1980s, syndicates routinely hired new cartoonists to continue comic strips after their creators died or retired, but now top-selling creators get to retain ownership of their works. For Better or for Worse can pass to another cartoonist only if Johnston says so.
She tried it. She talked to another cartoonist about taking the reins. The other cartoonist, whom she did not name, demurred, saying that For Better or for Worse was Johnston's baby.
It really is. The Pattersons are based on Johnston's own family. She made the children — only two, Michael and Elizabeth, in the early years — three years younger than her own in hopes of sparing her kids from ridicule, though they still got ragged by their friends.
For Better or for Worse has blazed trails from the beginning. Not only was it the first family-centered strip created by a woman, but its characters also inhabited something like the real world instead of the usual timeless cartoon universe where nobody dies or moves away.
Michael and Elizabeth are adults now, and April, who was born (at home during an ice storm) in 1991, is a teenager.
The characters will stop aging in September because extending two story lines simultaneously would be too complicated. "Then you'd have a comic strip within a strip," Johnston says.
The flashbacks might be triggered by family members looking at photo albums or reminiscing about an incident, she says.
"We really don't know what it's going to look like until we start to do it," Johnston says. To her knowledge, no other cartoonist has done anything like this.
She started the strip 28 years ago with the same exploratory spirit.
Universal approached her about doing the strip after seeing three books of single-panel cartoons she'd done about childbirth. Back then, other comic strips about family life, such as Blondie and Hi and Lois, were done by men. In fact, Cathy, by Cathy Guisewite, was one of the few strips done by a woman. Seeing its success, Universal wanted to see a woman's take on home life.
Not sure how to go about it, Johnston relied on Guisewite for help.
Guisewite told her that she wrote her stories out "like little plays." Johnston took her advice and still follows it.
Initially, she'd intended to do a gag-a-day strip like most of the others on the comics pages. But whenever she'd write a gag, Johnston says, "I just kept saying to myself, 'But then what happened?' " Nor did she intend at first for the characters to age or for Farley, the family's first pet, to die or for Michael to have a friend who was gay. It just worked out that way.
Over the years, Johnston says she's been approached by television and movie producers, and an animated series was briefly based on the strip. But producers tend to want to relocate the family to the American Midwest or make other changes. Johnston, who lives in Toronto, likes what she calls the "uniquely Canadian" feel of the strip and doesn't want the characters changed in major ways.
There also was another problem: Because the characters age and evolve, by the time a movie could be written, shot and released, the script already would be outdated.
She acknowledges, though, that the coming format change, with its flashbacks, would work well on the screen.
She will use the time between now and September to finish existing story lines and provide an ending. "It will be a full family circle, one full generation," she says, noting that Michael, who was a child when the strip started, now has two children, just as his parents did in 1989 when For Better or for Worse began.

Tuesday, January 23, 2007

Bush to set goal of reducing U.S. gasoline use

Bush to set goal of reducing U.S. gasoline use

WASHINGTON (Reuters) -
President George W. Bush will ask Congress on Tuesday to set a goal of reducing American gasoline usage by 20 percent over 10 years, the White House said.
In a preview of his State of the Union speech, White House deputy chief of staff Joel Kaplan said Bush wants to achieve the target through improved vehicle fuel standards and increased production of alternative fuels.
Bush, under pressure from Democrats in control of the Congress for a more muscular policy on confronting global climate change, believes the projected growth in carbon emissions from cars, light trucks and suburban utility vehicles could be stopped in 10 years, Kaplan said.
Bush will ask Congress for the authority to reform and modernize Corporate Average Fuel Economy standards for cars with the goal of reducing projected annual gasoline use by up to 8.5 billion gallons, Kaplan.
Bush will say Congress should not legislate a specific number for a revised fuel economy standard, but instead use a size-based system in order to avoid compromising vehicle safety by building smaller cars, Kaplan said.
Some members of Congress would like to see an increase in the fuel economy standard for passenger cars.
Bush will set a goal of replacing 15 percent of projected gasoline use with alternative
fuels by 2017.

Friday, January 19, 2007

Open Letter to Texas Senator Kyle Janek

After the first day of the Texas Senate and seeing the change in rules offered up by Senator Patrick shot down, I decided to compose a letter to my state senator and express my feelings toward his vote and the "business as usual" attitude that is in Austin. I would encourage everyone who has a Republican Senator to do the same, and always remember to be polite in your message. Also I would encourage everyone to send Senator Patrick a note thanking him for standing up for majority rule in the senate.
Links to the senators is below.

Senator Janek,

As a taxpayer, homeowner, and resident of both Texas and your district, I would like to know why you voted against the changes in the rules of the Senate that Senator Patrick brought forth on the first day of the legislative session. This includes the elimination of the blocker rule which requires 21 senators to approve that a bill comes up for debate and vote. Your decision to not support this change has done nothing to encourage the citizens of the state that the Senate is nothing more than a good ole boys club where nothing gets done. It also makes it look like you have forgotten all of the work that both Senator Patrick did in supporting your election but have forgotten that you are a public servant whose job in Austin is to serve District 17. I hope you realize that by not eliminating that rule you and your fellow Republican Senators have effectively undermined the power of the majority that you and you r fellow Republicans have in the senate and does everything to empower the MINORITY. That is not how our government was designed, nor should it be that way in the year 2007. I am becoming even more disappointed with the current group of Republicans in legislative positions every day, and actions or lack of action like this have me questioning weather yourself and the others that I have voted for to represent MY interests in Austin as well as Washington are either woefully corrupt, or simply on an overwhelming power trip that they do not care. I am watching the actions of both the Senate and House as well as Gov Perry and Lt Gov. Dewhurst to see where my support both financially and vote wise will be going in the future.
I would appreciate a response to my comments if possible and would be more
than happy to even visit with you about my concerns when you are in Katy
area.

Thank you,

Bill Weldon


Texas Senate

Katy superintendent discloses cancer, surgery and retirement

Here is the story, basically an attempt to make a quiet exit.

Katy .superintendent discloses cancer, surgery

Katy school Superintendent Leonard Merrell, who announced his retirement Wednesday, is being treated for prostate cancer and has recently undergone surgery, a school district spokesman said Thursday.
In a statement Merrell wrote to school trustees, he did not give any reason for ending a 12-year tenure during which he oversaw improved student performance and led the district through a period of explosive growth.
He also encountered some difficult times. Merrell's sharpest critics, members of a school watchdog group, often accused him of being out of touch with the district's needs.
Merrell's secretary, B.J. Alvarez, said the superintendent was in meetings Thursday and was unavailable to return calls.
In an interview with the Chronicle in March, Merrell said he had no plans to retire. "As long as I'm healthy and I enjoy the work, I'll keep doing it. If I ever get to the point that I don't enjoy it anymore, that will be the time to leave, because then it wouldn't be fair to the district," he said.
Merrell, 62, was hired in 1995 as he beat out a national slate of candidates. He told trustees Wednesday night he will retire June 30 when his contract expires, after serving 39 years in education.
"I'm disappointed and surprised but I understand that at some point in time a person has to make personal decisions," said Bill Moore, the district's chief financial officer.
School board president Judith Snyder said the board would use a national search firm to help select Merrell's replacement for the district, which has about 6,200 employees and an annual budget of $435.2 million for 2006-07.
"It is the intention of the board to complete the search and have Dr. Merrell's replacement before his retirement in June to provide a seamless transition," Snyder said.
Garland "Scooter" McMeans, the assistant superintendent for support services, said he is excited for Merrell but extremely disappointed for the district. Katy, a school district that grew from about 25,000 to more than 50,000 pupils during Merrell's reign, regained its Texas Education Agency "recognized" status in 2006, making it one of the largest districts in the state to earn the second highest ranking the agency designates.
Four bond elections passed from 1996 to 2006, totaling nearly $1.13 billion to fund new technology, renovation and repair work, and 20 new schools. Merrell also oversaw the construction of a multipurpose center named the Leonard E. Merrell Center, which also became a source of contention for the watchdog group.
The $23.5 million center was was funded through a tax increment reinvestment zone established by the city of Katy, Fort Bend County and Katy ISD in 1999.
In a 2005 interview with the Chronicle, Merrell said he was "humbled by, and very appreciative of, this honor. It came as a complete surprise and never at any time did I ever expect that the board would choose to name the facility after me."
But under the constant scrutiny of a school watchdog group, Merrell also had to deal with a number of controversies. One criticism was that district officials were harsh in enforcing applying zero tolerance discipline policies and did not use common sense. An e-mail controversy that resulted in several employees being disciplined for using school computers to discuss a school board election brought complaints from critics from within and outside of the district.
Fred Hink, a member of the Katy Citizen Watchdogs, criticized Merrell on Thursday as a "reactionary leader who never looked at the true business of running the school district."
Chris Cottrell,co-founder of the watchdog group, said the district is ready for new leadership.
But Anne Hodge, Katy Area Chamber of Commerce president and chief executive officer, praised Merrell's leadership. "I think he's been a coalition builder and one who understands the importance of developing strategic teams to address the problems in the community," Hodge said.
Lance LaCour, Katy Area Economic Development Council executive director, said Merrell's announcement came as a "somewhat of a shock." "It's probably going to be some big shoes to fill," LaCour said.


Now for my take on things. As much as I liked Dr. Merrell as a person, and I have met him on several occasions. His leadership skills left a lot to be desired. Look at the people who are praising him, and what they are saying, "coalition builder", "big shoes to fill". I am sorry but that is hardly a ringing endorsement of a man who has overseen one of the fastest growing school districts in the State and in the nation as well. Look at his record.

  • 1.13 BILLION in debt over 10 years
  • a multi purpose facility that only seats about 5ooo people funded by a TIRZ that has cost those that set it up millions...
  • lack of common sense with regard to zero tolerance policy
  • a district that has doubled in size but the quality of education has dropped.
  • 6,200 employees and an annual budget of $435.2 million
  • e-mail controversy that resulted in several employees being disciplined for using school computers to discuss a school board election

and then look at what the critics have said...
"reactionary leader who never looked at the true business of running the school district."
district is ready for new leadership.

Over all here is what I see. Dr. Merrell was a good man who was not prepared to run a district that was sitting on a population time bomb, like KISD was in 1996. He failed to be the aggressive leader that a fast growing district needs. He allowed land owners to take advantage of the districts fast growth and suck nearly 35 Million out of the district for land needed for schools. The districts growth planning group was horribly under informed, and the company that was doing the growth analysis was about 3 to 5 years behind in knowing what properties were being developed. He encouraged enormous pleasure palace campuses to be designed, and was the first superintendent to have a bond election fail, nearly had a second one fail. Dr. Merrell is a good person who did the best he could for the district, but the scope of the job far outdistanced the man, and I really thing that if he was not undergoing treatment for prostrate cancer, he would have resigned anyway this summer. His health just gives him a way to step aside with out having to worry about people questioning why he is leaving now after he fought so hard to get passed, but if only by the narrowest of margins.

Friday, January 12, 2007

My first news and Headlines of the new year

Sorry it has taken so long to drop another of these out there, but I have been really busy at work and home. Hope to get back on to a more regular schedule here this week.


Air Force Staff Sergeant Relieved of Duties After Posing Nude in Playboy Had to start with this news article

Michelle Manhart's my space page

U.S. Embassy in Athens hit by terror attack it was only a matter of time

North Korea Seeks Giant Rabbits for Meat Production to Alleviate Food Shortage Kill the wabbit.....

Five Iranians Seized by U.S. Troops in Iraq Remain in Custody do you see any reason to be nice to Iran with things like this happening?

Where Parents Favor Baby Boys to Girls, China to Have 15M More Men Than Women in 20 Years

Texas Republican Congressman Ron Paul Files Paperwork for 2008 Presidential Bid Maybe we can get some honest debate in the next election cycle

Democrats Choose Denver for 2008 Presidential Convention Most liberal town East of the Rockies and West of the Appalachains

Investors Sue to Block Former Home Depot CEO's $210 Million Severance Package If only we could sue professional sports teams for outrageous contracts.

Casino Mogul Wynn Sues Insurance Company After He Pokes $54M Hole in Picasso Painting Why should his clumsy act come out of our pockets

Will David Beckham Spark a Star Ad War in the U.S.? Who cares...

14 Carter Center Advisers Resign Over Former President Jimmy Carter's Book and this is important because...

Rare Turtle Turns Up in Thailand After Two Decades Where are the enviromentalist and their party

California State Panel Votes to Restrict Navy Use of Sonar This makes no sense

Texas High School Teacher Charged Under 'Peeping-Tom' Law for Videotaping Girls Wrestling look it is a Drama Perv... Sad...

Tuesday, November 28, 2006

Sen. Biden Blames Illegal Immigration on Mexico's 'Corrupt System'

Sen. Biden Blames Illegal Immigration on Mexico's 'Corrupt System' Does this sound like someone who is trying to capture the middle ground, or at lease move away from the liberal left? It sure sounds like something that a conservative candidate would say, but in putting the wheels to the road.. What will be done with regards to this issue. We can only wait and see.

COLUMBIA, S.C. — Sen. Joe Biden, the Senate Foreign Relations
Committee's incoming chairman, wants to get tough with Mexico, calling it an
"erstwhile democracy" with a "corrupt system" responsible for illegal
immigration and drug problems in the U.S.
Biden, D-Del., was in Columbia on Monday in his first postelection trip to
this first-in-the-South presidential primary state as he continues to line up
support for his presidential bid.
During a question-and-answer session before more than 230 Columbia Rotary Club members, Biden was asked about immigration problems.
Biden, who favors tightening the U.S.-Mexico border with fences, said immigration is driven by money in low-wage Mexico.
"Mexico is a country that is an erstwhile democracy where they have the greatest disparity of wealth," Biden said. "It is one of the wealthiest countries in the hemisphere and because of a corrupt system that exists in Mexico, there is the 1 percent of the population at the top, a very small middle class and the rest is abject
poverty."
Unless the political dynamics change in Mexico and U.S. employers who hire illegal immigrants are punished, illegal immigration won't stop. "All the rest is window dressing," he said.
An even bigger problem are illegal drugs "coming up through corrupt Mexico," he said. "People are driving across that border with tons, tons — hear me — tons of everything from byproducts for methamphetamines, to cocaine, to heroine."
Covering a variety of topics, Biden kept most of the crowd in their seats for an hour — twice as long as scheduled.
"I warn all of you, all of you making more than a million bucks — I hope you all are — I'm taking away your tax cut," Biden said. "I'm not joking."
The extra revenue would generate $75 billion a year and pay for a backlog in national security and local law enforcement programs, Biden said.
Biden's appeal for bipartisanship captured Bruce Rippeteau, a former Rotary president who says he's in the Genghis Khan wing of the Republican Party.
He "was saying some important things in a nonpolitical way," Rippeteau said.
"I want to compliment him about what he didn't say," Wilson said. "He never one time mentioned weapons of mass destruction."
Biden will lead the Foreign Relations panel because Republicans around the nation lost seats in the Nov. 7 elections. That tide didn't reach Republican-dominated South Carolina, where the GOP maintained its four U.S. House seats and Democrats kept their two.

Monday, November 27, 2006

Headlines and Comments for Today

Airline merger may not take off

As green energy grows, so do the jobs

Texans bomb off Broadway against Jets

Astros pick up slugger, pitcher

Elton John leaves stage, returns to tell fans he vomited

Indiana Jones-style adventure, 2 comedies bow this week

The Librarian- Return to King Solomons Mine

Schools still big issue at Capitol

Schools still big issue at Capitol, that is the headline of the article in the City-State section of the Chronicle. It does not surprise me that this is coming back up since it was a major issue in the governor's race. What will be interesting is how things are handled, so in the meantime let us take a look at this story and see if there is meaningful context or simply more political smoke being blown up our collective skirts.


AUSTIN — State legislators will consider getting rid of the TAKS test when they return to a regular legislative session in a few weeks. And some warn they must increase funding for new schools to head off another finance lawsuit.

Just because lawmakers passed major education bills last spring doesn't mean an easy agenda lies ahead when they return to the Capitol on Jan. 9.

"You never stop discussing education. It's got to be every session, and it's got to be major — every session," Senate Education Chair Florence Shapiro, R-Plano, said.

Public education directly affects more than 4.5 million Texas students,
their parents and about 600,000 teachers and staff.

It all depends upon what is done, and if it makes things easier for TEACHERS TO TEACH, and not have to worry about some joke of a test, that is anywhere from 1 to 3 years below the grade of those being tested.
Shapiro is among those who believe the Texas Assessment of Knowledge and Skills
test "has worn out its welcome," particularly for high school and middle school grades. She will push for "end-of-course" exams for the upper grades.

She also wants to review the state's assessment process and minimum standards for student performance. Currently, schools earn "acceptable" status with a 25 percent passing rating.

"Nobody believes that 25 percent passing is acceptable," Shapiro said. "We've got to change that and make (school grades) meaningful and not something to snicker at because that's what we're doing right now."
Here are some good ideas, however as along as there is no separation of skill level, then both the upper and lower level students will be getting the short end of the stick.
It took lawmakers three special sessions to reform the state's property tax system for funding public education, motivated by a Texas Supreme Court deadline for doing so.

But lawmakers did not address funding inequities for school facilities. Continuing failure to do so will trigger another lawsuit, said Sen. Leticia Van de Putte, D-San Antonio, a member of the Senate Education Committee.

Funding for new schools and renovation of older buildings is a problem facing districts both in property-poor areas and busting-at-the-seams suburbs.

"We may not get to the tipping point of doing a massive new school facilities finance
program, but we know, sooner or later, someone's going to take us to court on that," she said.

She also wants the state, along with districts, to be more efficient in the planning of new schools. It doesn't make sense, for example, to hire 500 architects for 500 schools, she said.

"Why can't a school district have a template and save money on architects, on design, on construction practices?" she asked.

Lawmakers last year passed legislation pushing students to take an extra year of science, which will require schools to add laboratories, Shapiro said. The state did not provide funding.

Several billion dollars are needed for school buildings across Texas, but no one seems to know the exact cost, she said.

"We don't project out what our needs are. We just go a year at a time, and that is
absolutely nuts," said Shapiro.
The problem with projections is if the data that they are based upon is flawed then the projections will be flawed as well.
Rep. Harold Dutton, a longtime member of the House Public Education Committee,
is not optimistic lawmakers will significantly improve education.

"We'll probably talk about facility funds, but when you talk about facility funding, you're talking about money, and who's going to put more money into public education?" the Houston Democrat said.

Dutton, who is starting his 12th House term, contends the state's public education system "is simply not working for the masses of students out there, particularly those of color. I don't know how to say it any louder or clearer."
Well the race card has been laid out there. How about the fact that the upper 10% of the student body in Texas is being taught at a level about 2 to 3 years behind where they actually can perform. The idea that teaching to a single common level, and test is the biggest disservice that can be placed upon all students, but there are not enough people who have realized that to get rid of it, and start to go back to the old days when students were placed in classes with piers who had the same skill set and ability.
Some folks want lawmakers to review a provision in last year's school funding bill requiring districts to get voter approval for any effective tax increase exceeding 4 cents per $100 property valuation.
And who are these people? I would bet that these are the same board members that are now limited by this legislation and are going to make hard decisions, like if the district can afford a $80 Million sports facility.
Lawmakers probably won't make major changes to the school finance bill
they just approved last spring
, said Rep. Rob Eissler, R-The Woodlands,
a member of the House Public Education Committee. But he agrees with Shapiro
that end-of-course exams should replace the TAKS test.

And it will probably take "some intensive study" before lawmakers change funding formulas for transportation, bilingual education and low-income students, said
Eissler, who spent 18 years on the Conroe Independent School Board before moving to the Legislature
.
This is the voice of a career education beurocracy advocate. Take what is says with a grain of salt, anyone who spends 18 yrs on a school district board either is blind to the issues or simply is unwilling to make hard decisions.

Eissler expects less rancorous debate over public education and other issues because House Republicans lost six seats last year, reducing their majority to 81-69.

"I think the voters aren't real enamored of very strong partisanship. They want to see results more than they want to see fights," he said.
That is the one thing in this article that is 100% true. Discussion about issues and working to provide a solution is what we want. If they cannot come to a workable solution then they need to get the hell out of the way

Thursday, November 16, 2006

Citigroup-led group wins China bank bid, Readers Digest is sold

US Bank leads purchase of Chinese bank group, the move is labeled controversial.


BEIJING — An investment group led by Citigroup Inc., the biggest U.S.
financial institution, has won a yearlong bidding war by overseas suitors with a
$3.1 billion offer for a stake in China's Guangdong Development Bank, a
Citigroup official said Thursday.
Guangdong Development Bank named the
Citigroup consortium the preferred bidder to buy the stake and operate the
mid-sized lender, said Robert Morse, chief executive of Citigroup Corporate
Investment banking for Asia.
A consortium led by the U.S. banking giant will
pay $3.1 billion for an 85.6 percent stake in Guangdong Development Bank,
according to a statement issued at a signing ceremony in Guangzhou, the capital
of Guangdong province.
Citigroup itself will have a 20 percent share of the
bank, which is owned by the provincial government, the statement said. This
complies with a 25 percent cap on foreign ownership in the banking
sector.
Its partners in the bidding group include several Chinese
companies.
Citigroup had been competing with a consortium led by Societe
Generale SA of France for control of the 500-branch bank.
The group now has
to apply with the China Banking Regulatory Commission for permission to have a
new shareholder.
As Beijing gradually opens the banking industry to foreign
competition, Chinese banks have sought out international lenders as strategic
investors to draw in both money and management skills.
Bidding for the
Guangdong bank had been unusually heated because a takeover would offer a rare
opportunity for a foreign investor to win management control of a mid-size
Chinese bank. But the idea of a foreign-led consortium taking majority control
of a Chinese bank is controversial.


Then the second part of the headline, with another company going private.

NEW YORK — Magazine publisher Reader's Digest Association Inc. said Thursday it
has agreed to be bought for about $1.61 billion in cash by an investment group
led by private equity firm Ripplewood Holdings LLC.
Ripplewood offered $17
for each share. Based on the almost 95 million shares the company had
outstanding as of Sept. 30, that puts the amount being offered at $1.61 billion.
The offer represents a premium of 10 percent over the stock's closing price
Wednesday of $15.51.
The private equity group will also assume Reader's
Digest's debt. In its filing with regulators for the quarter ended Sept. 30, the
company said long-term debt totaled $776.3 million.
Reader's Digest,
publisher of the eponymous general interest magazine, has been spending heavily
in an attempt to boost the circulation of the Reader's Digest magazine, as well
as the successful launch of the "Everyday with Rachel Ray" magazine and other
new offerings.
The company said it expects the sale to close in the first
quarter of 2007, subject to shareholder approval and other customary conditions.
Reader's Digest was advised by Goldman Sachs and Michael R. Lynch.
The
Ripplewood-led investment group includes J. Rothschild Group, GoldenTree Asset
Management, GSO Capital Partners, Merrill Lynch Capital Corp. and Magnetar
Capital.

US Airways Makes $8 Billion Bid to Acquire Delta Airlines

Well if this goes down, it could be the first in a series of mergers, the question would be who would be joining with whom. The only thing I do know is that if it goes to far, airline ticket prices could get way out of reach, because there are so few choices. On the other hand Southwest and Jet Blue and the other low cost carriers will probably grow because of it. We can only wait and see.


ATLANTA — US Airways Group Inc. (LCC) said Wednesday it has made an $8 billion cash and stock bid for Delta Air Lines Inc. in a deal that would create one of the world's largest carriers. The move came despite Delta's repeated statements it isn't interested in a merger.

The offer to buy Delta once the Atlanta-based airline emerges from bankruptcy protection by the middle of 2007 would give Delta's unsecured creditors $4 billion in cash and 78.5 million shares of US Airways stock.

As it stands now, Delta's common shares are likely to end up worthless when it exits bankruptcy. In most bankruptcy cases, the debtholders usually end up with new shares of the company.

Doug Parker, chief executive of Tempe, Ariz.-based US Airways, said in a telephone interview that he is aware of the comments made by Delta's management in recent months, but he believes this is a fair offer and that ultimately Delta's creditors will see that.

"Delta is in bankruptcy and bankruptcy is a very open process," Parker said. "The process is designed so that the creditors get the highest possible value for their clients. Given that process, what we have done is gone public with an alternative to a standalone plan."

Delta spokeswoman Thonnia Lee seemed surprised by the announcement Wednesday morning and said she could not yet comment on it in detail. But she said Delta has consistently said that it plans "to emerge from bankruptcy as an independent airline."

Delta's chief, Gerald Grinstein, said as recently as last month that he had received "feelers" from UAL Corp.'s (UAUA) United Airlines about a possible merger 18 months ago, but that he quickly rejected them. He reiterated at the time that Delta has no plans for a merger.

US Airways also had been reported to be interested in Delta months ago, and it released letters Wednesday showing its previous communications with Delta.

Parker said a US Airways-Delta combination would have about 85,000 employees. He said he would anticipate flying with 10 percent fewer planes, but that doesn't mean job cuts.

"The plan is not predicated on any job cuts," Parker said.

Parker did not say why US Airways was moving now, but he did say the airline believes its offer is a good one.

"We expect it would prevail over any other bid if there were any," Parker said.

US Airways said it has received a financing commitment from Citigroup Inc. (C) to provide $7.2 billion in new financing for the deal.

This funding would be used to refinance Delta's debtor-in-possession credit facility, refinance US Airways' existing senior secured facility with GE Capital, and provide the funding for the $4 billion cash portion of US Airways' offer. All other allowed secured debt and administrative claims would be assumed or paid in full.

US Airways said the offer is a 25 percent premium over the current trading price of Delta's pre-petition unsecured claims as of Tuesday, and a 40 percent premium over the average trading price for Delta unsecured claims over the last 30 days.

If the deal is completed, the airline would operate under the Delta name and serve more than 350 destinations across five continents. Parker said he has not decided where the merged company would be based.

According to letters filed with the Securities and Exchange Commission, Parker originally had a conversation with Grinstein about a combination of the two airlines in the spring and followed up with a letter to Grinstein on Sept. 29.

In a letter to Parker dated Oct. 17, Grinstein said he and Delta's board "believe it would not be productive to engage in the type of exploratory discussions that you proposed at the time."

US Airways, which was created after US Air emerged from bankruptcy and was acquired by America West last year, said the deal is expected to generate $1.65 billion in annual savings from optimization of the airlines' complementary networks and combining facilities in overlap airports.

The deal would reduce unprofitable flying and improve the mix of traffic, US Airways said. The company's statement did not specify which airports would be affected.

Radio Giant Clear Channel to Be Taken Private for $18.7 Billion

This is an interesting story, which begs a couple of questions. First considering the fact that the company you see today is a direct result of the FCC changes in regulations regarding media ownership, as well as the fact that they are going private. What does that say about the Bush Administrations leadership of the FCC. Second who is going to profit from this the most?

SAN ANTONIO — Clear Channel Communications Inc. (CCU), the nation's biggest radio station owner, said Thursday it has agreed to be acquired for about $18.7 billion by an investment group.
Clear Channel owns or operates 1,150 radio stations and is the largest operator of radio stations in the country.
It also owns a majority of Clear Channel Outdoor, the mammoth outdoor-advertising segment that dominates the business of billboard and bus-stop ads and sets the pricing rates within the industry.
The transaction would be one of the biggest deals in which a company has been taken private, and showcases that vast sums that buyout groups have recently been able to assemble to acquire public companies.
Clear Channel said the deal calls for a group led by the investment firms Thomas H. Lee Partners LP and Bain Capital Partners LLC to pay $37.60 in cash for each share of Clear Channel common stock. That is a 10.2 percent premium over its closing price on Wednesday.
Its shares climbed $1.89, or 5.5 percent, to $36.01 in premarket trading.
The buyers are also assuming about $8 billion in debt in the deal.
Clear Channel announced in late October that its board of directors was evaluating "strategic alternatives to enhance shareholder value."
Analysts had said taking the company private could push shares toward a price of $37 to $40 each.
Clear Channel said the company's board of directors "with the interested directors recused," unanimously approved the agreement and is recommending shareholder approval. Lowry Mays is the company's chairman of the board and his two sons, Mark and Randall, are CEO and chief financial officer, respectively.
People familiar with the matter had expected at least two bids to be submitted as the deadline for offers passed earlier this week. Another bid had been expected from Providence Equity Partners, the Blackstone Group and Kohlberg Kravis Roberts & Co.
In a separate announcement Thursday, Clear Channel said it plans to sell 448 of its radio stations, all located outside the top 100 media markets in the U.S., and its 42-station television group.
The deal would rank behind KKR's 1988 buyout of RJR Nabisco Inc., which still is the biggest going-private deal ever at $25.1 billion. It would also trail two other deals announced earlier this year. Those included the $21.8 billion buyout of airport development company BAA PLC and the $21.2 billion buyout of hospital company HCA Inc. (HCA)

Wednesday, June 07, 2006

Somewhere to start

Well I have to start somewhere so I'll comment on one of the latest press releases from a local company, and their latest press release.

Continental Orders More Planes

I'll give kudos where the belong with regards to this release. Continental has things going in the right direction and is approaching business the way any company that is facing great uncertantity in it's operating expenses. For the longest time the airline industry in general had a horrible business model. But now (unfortunately) due to extrememly inflated fuel prices, you are seeing which companies are able to adapt and manage their expenses best.

So the first Texas Common Sence Bravo award goes to Continental Airlines for showing the others how it needs to be done.