Archive for the 'capitalism' Category




Hhaing The Yu, 29, in rain falling on the ruins of his home, in a township outside Yangon, Myanmar.

This is not about politics; it is about saving people’s lives. There is absolutely no more time to lose.

United Nations Secretary General Ban Ki-moon, pressing the military junta in Myanmar to accept international assistance as hundreds of thousands of its citizens reel from the effects of a devastating cyclone earlier this month; May 14.
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Jane Harman, who represents California’s 36th District, may be the wealthiest member of Congress. She may also be running second as the member of Congress who has seen the greatest accretion of net worth since attaining her House seat in 1994.

According to an analysis by the Sunlight Foundation called Fortune 535, Rep. Harman’s net worth in 2006 may have been $409,426,887, up from $241,334,326 in 2000. (Sunlight bills itself as “a catalyst to create greater political transparency and to foster more openness and accountability in government.”)

The site allows inspection of each member of Congress in terms of net worth. Tabs lead to “Wealthiest,” “Greatest Change,” “Started with $0 or less,” and “Ended 2006 with $0 or less.”

It’s great fun. But Fortune 535’s worth is not its revelation of congressional wealth; rather, it demonstrates the weaknesses in the Ethics in Government Act of 1978 that requires financial disclosures by members of Congress. That’s why “may” is the operative word regarding Rep. Harman’s wealth.
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If our profits are taxed, that means we’ll have less capital to invest in new production.

John Hofmeister, president of Shell U.S., to CNNMoney.com; May 6.

These companies are spending a very small amount of their operating cash flow on exploration. They are spending the majority of their funds buying back stock.

— Amy Myers Jaffe, a fellow in energy studies at the James A. Baker III Institute for Public Policy, discussing results of her just-finished a two-year study looking at oil companies and how they spend their money; May 6.
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Long ago, in the beginning, a newspaper developed a Web site. Hundreds followed that lead. Now, one newspaper has only a Web site. In the end, what will there be? And what will be the consequences for readers?

A Wisconsin daily newspaper, whose readers have been increasingly shedding it, has now shed a significant expense — newsprint. The Capital Times of Madison, whose circulation has fallen from more than 40,000 to 18,000, said “-30-” to its printing press. It has become an online information enterprise around the Madison.com portal.

The 90-year-old newspaper — one of two serving Madison under a joint operating agreement — will only publish a tabloid-sized edition twice per week carrying some news, opinion and a weekly arts, entertainment and culture section. It will be distributed in its home-delivered partner paper, the Wisconsin State Journal.

It’s a dicey move, but critics like me have said for years that the Web-only newspaper will see its day come (which does not mean we have argued that online-only is a good idea). So what does this end-of-print mean for Madison and beyond?
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In case you missed it, Trent Reznor yesterday released the new Nine Inch Nails CD, The Slip, as a free download. I’ve only had time to listen to it once, and that was while I was working. So I’ll let you know what I think once I’ve been able to give it a few minutes of real attention. In any case, it’s free NIN, and what’s not to love about that.

Industry watcher and pundit extraordinaire Bob Lefsetz predictably has some thoughts about the release. I’m a big Lefsetz fan, mainly because of his relentless assaults on music industry greed and stupidity, and if you’re somebody who’s disgusted, dismayed or confused by how bad the music biz has gotten in recent years, you need to be a Lefsetz Letter subscriber. Full Story »


My congressman sent me his May 2008 newsletter today via e-mail to explain to me why gasoline prices are so high and what he’s doing about it. His analysis is unimpressive.

According to the newsletter and its link to his Web site, Rep. John R. “Randy” Kuhl (R-N.Y.) says:

Why are gas prices so high?

The high price of gasoline results from the cost of crude oil, the world demand and supply for oil, our limited refining capacity, and taxes. [emphasis added]

But what didn’t make his list?
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I think blogs are dedicated to cruelty, they’re dedicated to dishonesty, they’re dedicated to speed.

— Buzz Bissinger, author of “Friday Night Lights” and other bestsellers, castigating blogs on HBO’s “Costas Now”; May 1.

It’s one of the bigger Cadillacs. I’ve got a desk in it. It’s like an airplane. … I want them to feel that they are somebody and their congressman is somebody. And when they say, ‘This is nice,’ it feels good.

— Rep. Charles Rangell, chairman of the House Ways and Means Committee, describing the 17-foot-long, 300-horsepower, 2004 Cadillac DeVille he leases for for $777.54 a month; House rules permit members to lease any vehicle at taxpayer expense; May 1.
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It’s often difficult to get the attention of my students. But when I told them that it’s possible that a few of them would see the year 2100, and that most of their children surely would, they stopped furtively texting under their desks and began paying attention.

When I was born just after World War II, I told them, the population of the United States was about 141 million; of the world, about 2.7 billion. Now, 62 years later, Americans tip the scale at about 303 million; the world’s population has grown to about 6.6 billion.

A little extrapolation of U.S. Census data, I told them, shows the American population hitting 518 million at mid-century and 758 million in 2100. The world’s population is likely to grow to 14 billion at century’s end. Imagine what that world — their world — would be like, I challenged them.

But I was too optimistic. In a report to be released today, a Virginia Tech professor estimates that between 2100 and 2120 the population of the United States will reach one billion people.
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You get used to listening to that Alvin and the Chipmunks voice.

— New York state Gov. David Paterson, who is legally blind, on the special tape recorder he uses to listen to long articles or books played “at speeds so fast, it is difficult for others to comprehend”; April 21.

We shouldn’t have to give employers complete control over our private life so they can save a few dollars on medical care.

— Lewis Maltby, president of the National Workrights Institute, which advocates for employee privacy, on a report that Whirlpool Inc. “suspended 39 workers who signed insurance paperwork claiming they don’t use tobacco and then were seen smoking or chewing tobacco on company property”; April 23.
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In the first quarter a year ago, The New York Times Co. made $23.9 million in profit. This week, the company reported a loss of $335,000. That’s about the worst quarter-to-quarter loss the company — and the news biz — has ever seen.

In a story by The Times‘ Richard Pérez-Peña, president and CEO Janet L. Robinson said “it was ‘a challenging quarter, one that showed the effects of a weaker economy,’ compounded by ‘a marketplace that has been reconfigured technologically, economically and geographically.’”

That’s Robinson-speak for “Holy crap! We’re screwed!”
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In a garbage dump in Haiti, people scavenge for food.

They look at me and say, ‘Papa, I’m hungry,’ and I have to look away. It’s humiliating and it makes you angry.

— Saint Louis Meriska of Port-Au-Prince, Haiti, whose “children ate two spoonfuls of rice apiece as their only meal recently and then went without any food the following day”; food prices in Haiti have spiked 45 percent since 2006; April 18.
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Give me one last dance
We’ll slide down the surface of things

You’re the real thing
Yeah the real thing
You’re the real thing
Even better than the real thing

I figured out a long time ago, even before I began encountering grad-level feminist critiques, that our media’s stylized construction and portrayal of female beauty was problematic. It’s bad enough that unattractive people don’t appear in movies, on TV or in magazines unless the narrative expressly requires someone unattractive, and sometimes even that isn’t enough. I mean, the star of Ugly Betty isn’t really ugly.

But it goes beyond this. Full Story »


Has the financial tipping point of life vs. death finally arrived? Do you now need to be financially healthy (meaning rich) to ease suffering from or survive diseases such as multiple sclerosis, rheumatoid arthritis, hemophilia, hepatitis C and some cancers (such as metastatic breast cancer)?

The lead story in the print edition of today’s New York Times reports this chilling fact:

Health insurance companies are rapidly adopting a new pricing system for very expensive drugs, asking patients to pay hundreds and even thousands of dollars for prescriptions for medications that may save their lives or slow the progress of serious diseases.

With the new pricing system, insurers abandoned the traditional arrangement that has patients pay a fixed amount, like $10, $20 or $30 for a prescription, no matter what the drug’s actual cost. Instead, they are charging patients a percentage of the cost of certain high-priced drugs, usually 20 to 33 percent, which can amount to thousands of dollars a month.

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static-tv.jpg Is the answer to the above question “No?”

Well, that’s part of the problem–millions of Americans are in the same boat, and they are equally unaware of the situation

The basic gist is this: On February 17, 2009, “over-the-air” (OTA) broadcast television stations that use analog signals (which you pick up through the familiar “rabbit-ear” antennae) are switching to digital signals, which means that unless you have a strong enough antenna set and a special set-top converter box, your television will not be able to pick up the new signals. The government’s official DTV site gives a concise description of the whole event.

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This is actually a boost to remind people that we can produce this kind of journalism at any time. We’re going to have a large enough newsroom to continue to produce this kind of quality journalism.

— Leonard Downie Jr., editor of The Washington Post, winner of six Pulitzer Prizes for 2008; The Post’s front-page story by media critic Howard Kurtz did not mention the paper has endured three rounds of staff cuts since 2003, but the AP’s story did; April 7; emphasis added.

I can only confirm that the route is dynamic.

— Nathan Ballard, a San Francisco city spokesman, as, said The New York Times, “The precise route remained in flux on Tuesday as the torch extravaganza threatened to become more civic migraine than celebration in the face of potential protests by those upset with China’s human rights record and recent crackdown in Tibet”; April 9.
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It’s the new conventional wisdom: The news biz is dying. Declining circulation. Abandonment by advertisers. Falling revenues. Cuts in staffing to reduce costs. The news biz needs a new business model, the critical harpies proclaim.

But what should a new business model for an industry whose principal product is journalism look like?

It would have to recognize several new — and old — realities.

Any new business model must generate profit.

There’s no way around this. Journalism is best sustained within a for-profit frame. A company that engages in newspaper journalism as a product is not supported by government (unlike public television) nor should it be. The same holds for commercial broadcast journalism as well. To provide news, the company must make a profit to attract investors and secure the resources to collect, report and transmit that news. A non-profit model cannot immediately match the breadth and depth of news reporting that a healthy democracy of more than 300 million citizens requires.
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