Archive for 2009

THE OBAMA JOBS GAP: “Even Democrats are beginning to question the integrity of the Obama administration’s economic claims.”

GENDER INEQUITY? “Julia Isaacs of the Brookings Institution calculates that, between 1974 and 2004, median wages for men in their 30s, adjusted for inflation, fell by 12% from $40,000 to $35,000, at a time when median female wages were rising.”

BILL STUNTZ ON G.M. AND THE RAILROADS:

Allegedly friendly governments offer their business patrons a killing embrace – do this or that, and we’ll give you more money or land or trade protection than you could possibly ask. The subsidies are so generous, responsible corporate managers will do pretty much anything to get them. Over time, the corporations acquire more and more skill at pleasing the relevant government officials – and lose the ability to please their customers. The railroads laid track and built stations in places where the demand for transport could not match the supply; today’s GM is striving to build “green” cars that consumers may not buy. Insolvency is the inevitable consequence of such business decisions. So it was a century ago with railroads; so it is today with America’s auto companies. Perhaps the banks are next . . .

Uh oh. (Via Bainbridge).

A.P.: Obama repackages stimulus plans with old promises. “President Barack Obama assured the nation his recovery plan was on track Monday, scrambling to calm Americans unnerved by unemployment rates still persistently rising nearly four months after he signed the biggest economic stimulus in history. . . . Neither the acceleration nor the jobs goal are new. Both represent a White House repackaging of promises and projects to blunt criticism that the effects haven’t been worth the historic price tag. And the job estimate is so murky, it can never be verified. The economy has shed 1.6 million jobs since the stimulus measure was signed in February, far overshadowing White House announcements estimating the effort has saved 150,000 jobs. Public opinion of Obama’s handling of the economy has declined along with the jobs data.”

HEATH SHULER UPDATE: TVA INSPECTOR GENERAL cites appearance of preferential treatment in Shuler case. “TVA’s Inspector General said actions by agency employees and U.S. Rep. Heath Shuler, D-N.C., created the appearance of preferential treatment in a transaction involving water access rights. The conclusions were part of a report that was issued today by the IG, and that focused on TVA’s maintain and gain program, which allows landowners to gain water-access rights in one location by trading rights they own somewhere else on a reservoir.”

SO HOW’S THAT BAILOUT GOING? Just 42% of GM Owners Likely to Buy GM Again. “Only 42% of those who currently own a General Motors car are even somewhat likely to buy a GM product for their next car. That figure includes just 30% who are Very Likely to do so. The latest Rasmussen Reports national telephone survey shows that 43% of current GM owners are not likely to buy another GM car, while 16% are not sure.”

LOOKING AFTER WORKERS, OR THEIR OWN MANAGEMENT? Almost half of top unions have underfunded pension plans. “Eight of the largest unions have underfunded plans, according to the most recent 5500 reports, including the Service Employees International Union (SEIU), the United Food and Commercial Workers (UFCW), the International Brotherhood of Electrical Workers, the Laborers International Union of Northern America, the International Association of Machinists, the United Brotherhood of Carpenters, the International Union of Operating Engineers, and the National Plumbers Union. The average union pension has resources to cover only 62 percent of what is owed to participants, according to the Pension Benefit Guarantee Corporation (PBGC). Less than one in every 160 workers is covered by a union pension with required assets.”

CAPTAIN BILL WHITTLE: The Dowd Conundrum.

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UPDATE: Reader J.W. Patterson writes: “Bill Whittle has an amazing talent for knowing just where to put the knife when he wants to cut through the bullshit.” Yes, he does. And he looks damn good in a Starfleet uniform, too.

TECHNOLOGY REVIEW: Making Fat Disappear. “Can burning excess fat be as easy as exhaling? That’s the finding of a provocative new study by researchers at the University of California, Los Angeles (UCLA), who transplanted a fat-burning pathway used by bacteria and plants into mice. The genetic alterations enabled the animals to convert fat into carbon dioxide and remain lean while eating the equivalent of a fast-food diet.”