Thursday, April 2, 2009

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Bob Franken: Fixing The World's Management Problem Top
Permit me to be the gazllionth person to ask what you would call the ouster at the top of General Motors, and answer, "It's a start." It's a tired but true line to describe what is desperately needed in the failed oligarchial world of finance. Let's face it: What we have on this corporate planet is a management problem. We certainly do in those companies that call themselves "private enterprise" even while they're begging for massive public handouts to correct their disastrous stupid mistakes. That must be why we pay the top guys the big bucks and appoint their fellow club members to set policy and be their government hand maidens. Finally people (translate "voters") are catching on. So here we have these first steps in the right direction by an Obama Administration that realizes that an appearance of "same old same old" won't sell anymore. What has become particularly tiresome is the refrain that only those in power have the skill and experience to undo the mess they've created. What a crock! This country of ours is bulging with highly qualified people who would have not only fresh ideas but who also lack the stain of a career tainted by connections to the current executives and their sycophants. What we have largely in place now is a class of managers who achieved their power mainly because of their ability to network - which is another word for sucking up. They have created a modus operandi that has less to do with properly running an organization than it does with self-perpetuation. In fact, misguided principles enforced by bloated ranks of executives more often than not get in the way of productivity and quality. In the process, those who benefited from this setup have created the myth that they're indispensable. Many times they are not, to put it mildly. Usually, a company's problems start at the top. Then when they consume an organization, the responsible ones save their overpaid jobs by firing the ones who actually do work. They call responses like that "efficiencies". There's a term you hear in the military. The word is "Pogue". It has evolved from the letters "P-O-G" and it stands for "People Other than Grunts". What it describes are the ones who sit in their air-conditioned offices and make life impossible for those who are really doing something. Unfortunately, our armed forces have nothing over the civilian force. All too often, we are being managed to death by an ever-growing cadre of Peter-principled non-essentials whose main function seems to be to procreate. We need a few of them. We can't have corporate anarchy. We need someone to maintain order and set a direction. Unfortunately that direction is all-too-often down. We need to rethink the relationship between employer and employee. Right now, it's an adversarial one, devoid of any sense of teamwork, any loyalty. Each layer, in fact, each individual, is pitted against every other. That's how most organizations have evolved where the best you can hope for is paralysis. It's up to the people who have wormed their ways into positions to run things to take the lead and re-define their roles while they take advantage of the bottled up creativity in the people "under" them. Hopefully, the actions taken by the White House with GM will give them reason to do that, by forcing accountability on them. In that case, the steps taken against auto makers' higher-ups could be the first to address one of our major concerns - a management class that often has too little class.
 
Emma Coleman Jordan: More Smoke and Mirrors for Zombie Banks and their Toxic Assets Top
The Financial Accounting Standards Board (FASB) has once again fallen in the tank for the financial sector. The current crisis is the product of financial obfuscation and distortion of true value and risk in the valuation of mortgage-backed securities. Despite this core problem, FASB has decided that firms that hold mortgage-backed securities should be allowed to value them at a price that has no connection to what the deeply disrupted market would pay today. Instead, these "toxic assets" will be allowed to be valued at a fairytale price based on what they might be worth in an "orderly" market. We haven't seen an orderly market for mortgage-backed securities since August of 2007, when the credit market first froze. All this accounting hocus pocus is deja vue. In the late eighties, during the S and L crisis, accounting tricks like this were used to give banks "regulatory capital", "good will" and other phony substitutes for arms-length bargained prices. This smoke-and-mirrors approach prolongs the crisis. Who will benefit from this attack on transparent accounting and accountability? The taxpayers will certainly lose. Under the recent Treasury proposal to set up a public -private partnered purchase of toxic assets tfrom banks to private ventures through a highly leveraged investment, courtesy of FDIC guarantees and taxpayer funds, the banks must have an incentive to sell the toxic assets. Now, thanks to the FASB rule change. The banks can now merrily pretend that these assets are worth much more than the entire world knows they are worth, and refuse to sell at all, or hold out for gross overpayment with taxpayer subsidized "sales". They can keep the toxic assets on their books, pretending that the assets are backed by pristine, valuable, reliably performing loans, in a well-ordered market. In short, the banks that have barely held on to life with Trouble Asset Relief Fund (TARP) transfusions, will now find new life for their toxic assets, thanks to accounting distortions of reality. They can keep these on their books and pretend that the banks are not truly insolvent, as some surely are. Smoke and mirrors accounting only delays the day of reckoning, and the eventual cost of that reckoning for taxpayers and the global financial system. More on Timothy Geithner
 
Man Cries After Failing To Rob Liquor Store Top
TRENTON, N.J. — Police say a 19-year-old who tried to rob a liquor store sat down and cried after 76-year-old owner locked him in the store. The man was accused of trying to rob Sykes Liquor Store in Trenton Monday night. Police said the owner, who was behind the counter, triggered the lock after the man grabbed a bottle of Hennessy cognac and bolted for the door. The man then allegedly pulled out a handgun and demanded to be released. But the owner said he saw that the gun was a fake, refused to unlock the door and called police. Police said the suspect threw away the gun, slumped to the floor and was crying when officers arrived to arrest him. More on Stupid Criminals
 
Peter Brown: Yoko Ono's "Promise" on World Autism Awareness Day Top
Yoko Ono Lennon is one of my longest and most treasured friends. I was her and John Lennon's best man at their wedding in Gibraltar in 1969 and we've remained close ever since. She literally lives next door. I never cease to be amazed by her prolific output of art, music and creativity and by the fact that much of this talent is dedicated to good and worthy causes. Her latest feat is a fabulous mural called "PROMISE" which is being auctioned off in 67 acrylic puzzle pieces to benefit World Autism Awareness Day (she met John in '67 and, coincidentally, there are an estimated 67 million people around the world with Autism, a neurobiological disorder that steals language and social skills from children.) PROMISE symbolizes the coming together of society around children with autism and the unfinished work of the world in finding a cause and cure for autism. The 7-foot tall mural -- of a beautiful blue sky -- will be unveiled at the United Nations on April 2, which the UN has designated as World Autism Awareness Day in recognition of the spread of the epidemic and the need for early diagnosis and treatment. World Autism Awareness Day (WAAD) was passed unanimously by the UN General Assembly in 2008. Along with AIDS and diabetes, autism is one of only three health issues to be so observed by the UN. In addition to promoting worldwide knowledge of the autism epidemic and the importance of early intervention, WAAD celebrates the unique creative talents and skills of people with autism, and features community events around the world where individuals with autism are celebrated. Please go online to bid on a unique "puzzle piece of art", signed by Yoko, at www.worldautismawarenessday.org . Bids start at $1,000. All proceeds go to Autism Speaks, the world's largest advocacy organization for autism awareness and research. With each winning bid is the promise that when the cure for autism is finally found, all pieces will be reassembled to mark the last World Autism Awareness Day. More on Autism
 
Blythe McGarvie: China Dragon Bites Back Top
With the pre G20 announcement from the White House, it is an excellent sign that President Obama will meet with Premier Hu and work jointly to solve the financial crisis. Our countries are interconnected more than ever. I am in Shanghai and learned just how bad the manufacturing situation is here from business men and women that work in this city and have US multinational company clients in the manufacturing business in China. Two years ago, a new labor law in the PRC was passed and often ignored by US companies. That was not a problem when times were good. However, when business conditions sour, difficulties arise. We see the China dragon bite back. Americans don't like the labor law as it requires all employees, even expatriates, to have a contract. You can not fire Chinese employees or anyone with a contract without paying severance. In addition, many unpaid work hours will come due as employees have started to show they have been tracking time worked and not paid. The Chinese dragon is strong and can force you to pay one month severance for every year the employee worked in addition to other fees and penalties. Most whistle-blowers are Chinese employees who have been fired. It is no longer a nudge, nudge, wink, wink, environment where the Chinese government ignores bad practices. The Chinese government leaders' sole goal is to stay in power. To do that, they must have Chinese workers employed. Manufacturing represents 40% of the Chinese GDP. The PMI statistics for China show that for the last 3 months manufacturing has been contracting. Riots have occurred in the south. If 300 factories closed according to local news, you know that many more have actually closed. The employees are learning their rights and becoming feisty. My message is for those of us who want prosperity for many nations, including for workers facing a difficult and changing US manufacturing situation. China is no longer as easy a place to do business as in the past. Talk to your lawyers to find out the risks and hidden costs of moving manufacturing jobs to China. It may be more expensive than you think. The image of a dragon biting the hand that feeds it (U.S. companies) has never been so visible. Let's hope wise heads prevail when both countries' leaders meet to keep the economy flowing and avoid any destructive laws that have a protectionist effect. More on China
 
Michelle Obama's Royal Opera Outfit: Love It Or Lose It? (PHOTOS, POLL) Top
After enjoying a ladies' night at 10 Downing Street on Wednesday, the G-20 wives made a visit to the Royal Opera House in London on Thursday morning. Michelle Obama wore what may be her most controversial outfit yet ( she also caused a controversy the night before when she broke with royal protocol and touched the Queen ): a denim-like skirt with an argyle and sequined sweater. She also recycled her inauguration day Jimmy Choo pumps ( which she's done before ). Take a closer look and then let us know how you feel. PHOTOS: POLL: *Follow Huffington Post Style on Twitter and become a fan of Huffington Post Style on Facebook * More on Michelle Obama Style
 
NCAA, Colleges: Sports Marketing A Big Push Top
The first NCAA basketball tournament wrapped up 70 years ago at Northwestern University's old Patten Gymnasium, with Oregon winning it all. There was no television coverage. The event drew barely 15,000 over 11 days. And it lost money. This one most assuredly will not.
 
Steve Young: Strippers Turn To Anchoring at Fox News to Fight Economic Hardships Top
With the economic downturn, people have been willing to do almost anything to put food on the table, including working at Fox News.. "I was happy stripping at Skanks," said exotic dancer, Trixie McRove, "but when the tips, and customers, started shrinking, I had to look for something else to pay the rent. That's when I heard about Fox News holding a job fair down at Munchies." "We figure that a lot of our demographic - 67 and over white males - frequent these gentleman relief centers,"said one FOX human resources VP. "There's an untapped talent pool at these clubs and we plan to tap it for all it's worth. And then we might even hire them. No...but I'm serious" With Bill O'Reilly making it part of his contract, for the most part, Fox is looking for blondes. "If you don't work at Townhall.com they want you to be blonde," said Trixie McRove. "But I don't know how READ THE REST OF THE HOT, STEAMY, SEXUALY CONTENT HERE. Award-winning TV writer Steve Young is author of "Great Failures of the Extremely Successful" www.greatfailure.com and blogs at the appropriately-named SteveYoungonPolitics.com More on Fox News
 
Jeff Cohen: I.F. Stone's Son on the Izzy Awards, Amy Goodman and Glenn Greenwald Top
This short speech was made by Jeremy Stone at Tuesday's inaugural ceremony of the Izzy Awards for independent media -- named after legendary journalist I.F. "Izzy" Stone. Blogger Glenn Greenwald and Amy Goodman of Democracy Now! shared the award presented by Ithaca College's Park Center for Independent Media , which I head. -Jeff Cohen REMARKS OF JEREMY STONE: When I first heard about an award for people who most "resembled" Izzy, I had high hopes that I might finally win a prize. Unfortunately, the selection committee appears to have been concerned with behavior. Resembling Izzy in behavioral terms does not lead to an easy life. His capacity for thinking independently, and acting on principle, isolated him from just about everyone. In the McCarthy era, because he spoke in defense of Jeffersonian principles, people were afraid to be seen with him. When he supported the rights of Palestinians, Jewish institutions would not invite him to speak. And when the National Press Club refused to serve his black guest lunch, he quit the club, isolating himself from his colleagues. He said he was so happy in his work that he should be "arrested." But the consequence, for him, of speaking truth to power was loneliness. Inevitably, the reward of such a man comes late. I.F. Stone knew this. He said: "I began as a pariah and then was treated as a gadfly. If I live long enough, I will become an institution." And indeed in his lifetime, he moved on to become an icon. Last year, Harvard's Neiman Foundation for Journalism began awarding an annual I.F Stone Medal for Journalistic Independence with a follow-on panel on strengthening this independence. So two decades after his death, he became a fulcrum for journalistic independence. Now, following the I.F. Stone Medal of 2008, comes the Izzy Award of 2009 with different criteria but a common goal. Rest assured that I.F. Stone is rotating in his grave with pleasure over these annual awards. Today's Izzy Award winners do have points of resemblance to I.F. Stone. Glenn Greenwald is a close reader of official documents and a principled critic of the tendency of the Executive Branch to exceed its rightful powers. He has been a fearless critic of government officials and complacent reporters. He has shown a willingness to challenge conventional pieties, including unthinking support for Israeli hardliners. Amy Goodman career also has similarities. She speaks up for the disenfranchised and gives her audience facts they don't hear from the traditional media. She is an investigative journalist and writes often about human rights. Like I. F. Stone and his weekly, she founded a vehicle, "Democracy Now!", that takes no advertising or money from corporations or government, She confronts authority no matter how high. And she has repeatedly shown physical courage, something that I.F. Stone showed in accompanying Jewish refugees of World War II in their illegal and dangerous travel from Europe to Palestine. I.F. Stone once said: "If the Government makes a mistake, the newspapers will find out and the problem may then be fixed. But if freedom of the press were lost, the country would soon go to pieces." What will this crucial freedom of the press amount to in coming years in the face of so much technological change? And how to protect it? The Park Center for Independent Media's answer is to indentify role models by giving them Izzy Awards. It has made a good beginning. In conclusion, I.F. Stone once said that he resembled nothing more than a "great Jewish bullfrog." With this in mind, I congratulate the awardees on two grounds: their prize-winning resemblance to I.F. Stone in behavioral terms and their abysmal failure to resemble him in person. Jeremy Stone is the president of Catalytic Diplomacy. He headed the Federation of American Scientists from 1970 to 2000; his name appeared on Richard Nixon's Enemies List in 1973. He supervises the official www.IFStone.org website and is the elder son of Esther and Izzy Stone.
 
Tea Party Pooper: Rick Santelli Wants Nothing To Do With Protests He Spawned Top
It's been over a month since CNBC's Rick Santelli called for a Chicago "Tea Party" during an impromptu rant against the government "rewarding bad behavior" with bank bailouts and mortgage relief. Now his barely-thought-out words have crystallized into something of an anti-tax, anti-spending movement, with "Tea Party" protests planned across the country for tax day, April 15 . But Santelli and his network want nothing to do with it. The CNBC pundit is "not going and not in any way involved" in the protests, says spokesman Brian Steel. They may feel left out come tax day -- Fox News anchors Neil Cavuto and Sean Hannity have signed on with tea parties in Sacramento and Atlanta, respectively, and Newt Gingrich plans to attend a tea party in New York. Organizers say over 300 different protests will happen across the country. "We have fully confirmed protests in 360 cities," says organizer Eric Odom, who says he is in daily conversation with local organizers and is "very confident that all the protests will happen." At least two of the protests -- the ones featuring Fox personalities -- Odom expects to bring out between five to ten-thousand people from "all walks of life," not just conservatives opposed to the Obama administration's policies. The Huffington Post wants to have citizen journalists at as many of these events as possible. If you think you'd be interested in attending one of the Tea Parties and reporting back to us with dispatches, photos, or video, click here to sign up . We'll contact you shortly with further instructions.
 
American Airlines Union Goes Viral Against Executives Top
DALLAS — Unions at American Airlines have picketed, worn buttons and rented billboards to protest what they consider unseemly management bonuses. Now they're using an interactive Web site game to skewer their CEO. The Transport Workers Union, which represents mechanics, bag handlers and other ground workers at American, said Thursday it is launching a new campaign to protest stock-based compensation for several hundred management employees later this month. Similar payments in recent years have totaled nearly $300 million. They are expected to be a small fraction of that amount this time though because the stock price of American Airlines parent AMR Corp. _ which lost $2.07 billion last year _ has dropped from $40 in early 2007 to less than $3 last month. In early 2007, Chief Executive Gerard Arpey received a $6.6 million stock bonus as reward for a sharp rise in the company's share price in 2006, but last year his stock bonus fell to $1.7 million as AMR's share price tumbled. The AMR board originally set a target of $2.2 million for Arpey's 2009 stock-based incentive payment. At Wednesday's closing price, the 95,000 units would be worth $320,000 instead. But any payments stick in the craw of rank-and-file employees who are still working for lower wages they accepted in 2003, when the company was near bankruptcy. Negotiations on a new contract are under way with help from a federal mediator. Past union protests have failed to block the payments _ which labor calls bonuses but management calls "variable compensation." This time, TWU is taking out ads on news Web sites that feature an interactive game in which players match four U.S. corporate executives with their pay packages. Arpey has the richest deal, mostly due to stock-based compensation. An official at American's pilots' union recently compared the bonuses to those paid out at AIG, the giant insurer that got billions in federal bailout money. AMR, however, hasn't taken any bailout funds, and Arpey has said he doesn't plan to ask. "I'm not comparing American Airlines to AIG," said James C. Little, international president of the TWU. "Nobody could stop the AIG bonuses, but we have an opportunity for American Airlines management to say, 'Is this the right time to take bonuses?'" Missy Latham, a spokeswoman for Fort Worth-based AMR, the nation's No. 2 airline operator, said the company takes "an extremely disciplined approach" to management pay. "Our plans directly link pay to the company's performance and place a significant amount of management compensation at risk," which is "considered good corporate governance," Latham said. She said American tries to match executive pay with median pay for similar positions in and outside the airline industry. For senior executives, up to 75 percent of their compensation can come from incentives, while the percentage is much lower for other management employees. The payouts are based largely on how AMR's stock performs compared with other airlines over a 3-year period. In the last three years, AMR's stock has fallen farther than that of Continental or Southwest but not as badly as US Airways and about the same as shares of United parent UAL Corp. Latham said the value of this year's stock awards won't be known until they vest later this month, but they are expected to be "significantly below" the targets set by the company's board in 2006. That, she said, "demonstrates the downside of at-risk compensation."
 
A. Siegel: Will-fully Distorting ... despite being publicly corrected Top
Alarms should be going off whenever George Will sets his pen to paper with words "climate change" or "global warming" anywhere near the subject line. In today's Climate Change's Dim Bulbs , Will launches deceptive broadsides at compact fluorescent light bulbs (CFL), using "facts" to pander truthiness and confuse the public discussion on energy issues. In this case, his column pulls mainly from a marginal NY Times article examining the mixed record of CFLs . (Why marginal? In short, because it upfronts shallow problem discussion, perhaps as a teaser, with the substance toward the back end of the piece. A useful piece for those open to looking toward improving the situation, which isn't perfect, and also a useful piece for Luddites like Will.) A small example of 'distortion' flowing from the Times into Will's column: Although supposed to last 10,000 hours and save, the Times says, "as much as" $5.40 a year in electricity costs, some bulbs died within a few hours. Some experts, reports the Times, "blame the government for the quality problems," saying its push to cut the bulbs' prices prompted manufacturers to use inferior components. Have to hand it to Will for his skillful skewing of discussion. So much to dissect in so few words. 1. "Although supposed to last 10,000 hours ..." Well, CFLs are typically branded for 4500-6000 hours, last time I looked across multiple brands' packaging. 10,000 hours as average claim? Not from my experience. 2. "Some bulbs died within a few hours ..." Okay, so 5000 hours is the expected AVERAGE life of the bulb. Some will last 10,000 (and, actually, some (FAR FEWER) will likely last 100,000+ hours). With many technologies, the failure rate is curved, with the highest percentage failures at the very earliest usage points. Faulty manufacture or materials' problems and the bulb might blow when put in the socket. (Of over 150 CFLs that I've tracked, three died within less than 30 minutes. All three were the same bulb type, from two packages totaling six bulbs, from a buy at Walmart. With years of usage, have had 21 total die -- with some of those for reasons outside the bulb, itself. (Water leak shorting a socket.) I am not tracking exact hours / bulb, but it is clear that replacements are occurring far less frequently than was the case with incandescents. 3. "save "as much as" $5.40 a year in electricity costs ..." Let's take a look at the likely basis for such a comment. Two comparisions are in order between incandescent and CFL bulbs. We're going to use a standard of 40 hours per week of lighting usage (a reasonable moderate+ home use, low office use for a bulb) at a cost of 10 cents per kilowatt hour for electricity. A 40 watt incandescent bulb (low level of light) would burn 1.6 kilowatt hours/week or 83.2 per year for a total electricity bill of $8.32. A CFL equivalent would burn 11 watts or 0.44 kwh/week and 22.88 kwh/year for a total electricity cost of $2.29. A difference of $6.03, or more than 10 percent higher than the figure the Times used and Will emphasized. But how many of your bulbs are 40 watt (or 40 watt equivalents)? Let's up the lighting a bit, why don't we? What happens at 100 watts? In this case, the incandescent is 4 kWh/week or 208 per year, which translates to $20.80 on the electricity bill. The 27 watt CFL equivalent is 1.08 kwh/week, 56.6 kWh/year, or $5.62 of electricity payments annually. That is a $15.28 reduction in electricity costs annually -- for just one bulb. So much for "save "as much as" $5.40 a year in electricity costs" be a reasonable statement. 4. Of course, it is all the governments' fault rather than the businesses who have made poor products and have inadequate quality control. Have to wonder whether George Will endorses expanded government inspection to assure that private manufacturers are meeting the government standards. The New York Times article, Do New Bulbs Save Energy if They Don't Work? , is worth reading, even if there are problems with it, as it highlights some real issues and provides some paths for learning lessons to reduce future problems. The rest of Will's piece is simply deceptive and misleading. What a surprise. Surprised that I am surprised ... What is perhaps surprising is that The Washington Post and The Washington Post Writers' Group are again complicit in enabling Will-ful deceit on an issue for which they were so badly burned in February and March during The Will Affair . Despite The Washington Post's editorial board's implicit acknowledgment of error in allowing Will's distortions into their OPED pages by publishing, on facing pages, two pieces shredding Will's distortions on 21 March, Will's column today repeats the deceitful material directly tackled by World Meteorological Organization (WMO) Secretary-General Michel Jarraud in his extensive letter responding to Will's citing the WMO. Will's column today: "[r]educing carbon emissions supposedly will reverse warming, which is allegedly occurring even though, according to statistics published by the World Meteorological Organization [WMO], there has not been a warmer year on record than 1998." From Jarraud's 21 letter : "[i]t is a misinterpretation of the data and of scientific knowledge to point to one year as the warmest on record ... and then to extrapolate that cooler subsequent years invalidate the reality of global warming and its effects." Yet again, despite publishing a letter from the head of the organization that Will is citing stating that this is a misuse of the data, The Washington Post publishes his distortion. Clearly the Washington Post editorial board has not learned a lesson and are not interested in holding George Will to any reasonable journalistic standard. UPDATE: Chris Mooney, author of the other 21 March Washington Post publication tackling Will's Will-ful deceit , has a reaction : Congratulations, Mr. Will-your statement is no longer factually incorrect! However, you still appear to reject statistical reasoning about temperature trends. How else to explain this silly fixation on 1998 being the warmest year? This isolated factoid does not cast any serious doubt on the idea that we're in a warming trend. It's absurd to assume that we'll set a new temperature record each year, and that if we don't, there's nothing to worry about. Carl Zimmer has weighed in with George Will, Now With Misleading Links! There's a lot of dismally wrong coverage of global warming these days. But the way global warming gets treated on the op-ed pages of The Washington Post -particularly by George Will and his enabling editors-is particularly exquisite. For my little Ahab-like obsession with the editorial process there, check out this string of posts . Many other observers have made similar points, so you'd think that somebody over at the Post might have learned something from the experience. Today, we see that they haven't. And, Joe Romm weighs in forcefully with The Washington Post, abandoning any journalistic standards, lets George Will publish a third time global warming lies debunked on its own pages Fool me once, shame on you, fool me twice, shame on me, fool me three times, shame on the media. In a move that calls into question the journalistic integrity of the entire Washington Post editorial staff -- especially editorial page editor, Fred Hiatt, who should be fired -- the newspaper has published a third disinformation-pushing op-ed by George Will ... The bottom line about the Post is that it would appear to have no journalistic standards at all for what it publishes on its editorial page and its letters page ... The Washington Post editorial staff has flunked journalism 101. I repeat, editorial page editor, Fred Hiatt, should be fired. NOTE : Several related discussions on CFL payback periods: Calculating the Financial Benefits of Compact Fluorescent Light bulbs (CFLs): the case of a condo building Making Energy Cents -- From the Home to the Globe More on Climate Change
 
Diane Francis: G20 thugs attack financial injustice Top
Hooded hooligans scarred the G20 gathering in London's streets today and underscored the need for leaders to crack down on the type of reckless capitalism that has brought the world to its knees. This mayhem is a harbinger of trouble to come in every country in the world and a threat to G20 leaders to not only impose justice on misbehavior but prevent it in future. Not only are the world's citizens upset, and damaged, by what's happened but there's a threat to the social contract itself in the world's capitalist democracies. I'm not condoning street violence but it will be helpful if political leaders understand that economic ruination by others -- whether a foreclosure in Detroit or a laid off worker in Cincinnati, Delhi or Bristol -- is also a violent act. It damages victims, not only financially but psychologically and socially. Their hardship is even less bearable given the evidence that the world's crisis was due to the exploitation by ruthless or criminal players who gamed the system for their own benefit. This crisis has not been a failure of capitalism, as some of these protesters believe. But it is a failure of the financial system and of globalization because there was a regulatory and police vacuum in the international space that led to the collapse. That's why Sarkozy insistence on immediate global policing is not just grandstanding. It's absolutely essential in order to impose the rule of law on global capital markets, as is the case with trading, but which has been missing. The protester is vandalizing the Royal Bank of Scotland which was nationalized in Britain after years of reckless and negligent behavior. Its Chair was recently forced out of his position but left with a pension of US$1 million a year -- another example where taxpayers of modest means are left holding the bag and the culprits escape and profit from their misdeeds. Obscene payouts to AIG, Wall Street and banking officials have resulted in violence in the United States and elsewhere too and this will grow until all of those responsible are stripped of their ill-gotten gains, go to jail or both. On balance, these dramatic demonstrators are an unfortunate and necessary step toward global governance and their efforts will help bring about some justice in the global economy and international finance. More on Financial Crisis
 
MJ Rosenberg: Depressed About Israel? Don't Be. It's A Thousand Times Better Than Its Appalling Government Top
It's like this. If the only page you read in the newspaper is the obituary section, it's going to appear to you that people are sure dying a lot. That same metric applies to news about Israel. If you confine your reading to news about the Gaza war, the continuing blockade, and the rise of Avigdor Lieberman, it is pretty easy to give up on the whole place. Of course, we do not measure our own country solely by the nature of our politics. If we did--if we judged the United States based on the policies we engaged in over the past eight years and especially by the Iraq war--we would have to conclude that we are one sorry nation. But, of course, we don't judge America that way. We live here and we know that America is more than the sum total of its politics, politicians, and policies. The same goes for Israel. The forty-two year occupation is horrendous, but Israel is about more than the occupation. As for its people, one can argue that they are responsible for the occupation, but no more than the average American is responsible for the Iraq horrors. Democracy or no democracy, neither individuals nor nations as a whole can be fairly judged strictly on the basis of actions taken by their governments (even if they elected those governments). That is why it is not legitimate to kill or starve innocent Palestinians in Gaza on the grounds that "they voted for Hamas." That is easy to forget when one is dealing with a foreign country. The news we tend to hear about them largely centers on governmental policies. But, because we don't live there, these are not offset by the personal experiences of day-to-day living, as is the case with one's own country. I'm lucky. I know Israel well, having traveled there regularly since my teenage years. After dozens of visits of varying lengths, I know the Israel behind the headlines. And I know that the real Israel is its own saving grace. Unfortunately, many of Israel's advocates in this country do not make any effort to present the real Israel. They are too busy selling Israel's policies in the West Bank, Gaza, and Jerusalem, or hounding presidential appointees who do not march in lockstep behind those policies. Even on campus, pro-Israel kids are trained to defend policies that are often indefensible and that will never ever fly on an American college campus (or anywhere other than amongst the Israeli right's amen choir here). And that is why young people, including an ever growing number of young Jews, are turned off by Israel. For them, Israel is no more, and no less, than the sum total of its policies. That is why if I were running Israel's "hasbara" (public relations) efforts on campus or among people under forty, I'd use the slogan, "Israel, Yes: Occupation, No." Unfortunately, that approach will never be adopted because most of the people involved in selling Israel care more about promoting Israel's policies than the country itself. They are engaged in a political battle designed to promote the policies of the government of Israel, not Israel. And, even more, their power to influence Middle East policies here. They tend to be indifferent to the extraordinary happenstance of living at a time when there is a thriving Jewish country in which some seven million people speak a language that was dead for two millennia. They don't know much about its history; they don't know much about its geography. They are people who do not enjoy eating an ice cream on the promenade along the beach in Tel Aviv nearly as much as pressuring some Congressman to oppose humanitarian aid for Palestinians and any dealings with Iran. You will even see this approach on those quasi-official tours of Israel (including the trips for kids) that focus heavily on Jerusalem and very little, if at all, on Israel's largest city, Tel Aviv. Yes, I know that Jerusalem is Israel's capital and spiritual center. But it is the secular liberal beach town of Tel Aviv that shows Israel's most appealing face. Jerusalem is black and white. Jews here. Arabs there. Secular here. Religious there. Jews don't go to East Jerusalem, Arabs don't go to West Jerusalem. Two cities divided by impenetrable invisible walls. The tension in the air is palpable (except in the lovely upscale Jewish neighborhoods). Tel Aviv, in all its rich color, is what Zionism is all about. It is a Jewish city (built in the twentieth century by and for Jews) adjacent to the wonderful, ancient Arab, and now mixed, town of Jaffa. It abuts the Mediterranean and is a place one goes to escape the Arab-Israeli conflict, unlike Jerusalem that is at the heart of it. Jerusalem--with its beautiful vistas built long after Jews left for the Diaspora--would be a gorgeous and fascinating city even if the Jews had never returned to Palestine after 1,900 years. Tel Aviv exists because they did return. With its beaches, bars, art galleries, theaters, high-fashion, and the liveliest "outest" gay scene east of San Francisco, T-A is often criticized as a "bubble" because it provides the illusion that it is possible to escape the Israeli-Palestinian conflict while in the heart of Israel. It is an illusion, but a good one--and the very opposite of the ugly and hopeless reality offered by extremists on both sides. I understand the contradiction here. I am saying that the best place in Israel is an all-Jewish city rather than a binational city like Jerusalem. But that is, in fact, what I believe. There is nothing wrong (and plenty right) about a Jewish city, just as there is nothing wrong (and plenty right) about a Jewish country (which the twentieth century taught us is essential to Jewish survival). But that equation does not apply much, if at all, beyond the Green Line. The settlements and outposts in the West Bank --"legal" and "illegal"--are essential only to prevent Palestinians from having their own national home. That is the prime purpose of the enterprise. As for Jerusalem, which is now divided by walls of hate, it will only become one city when it is shared with the Palestinians. That is why the two-state solution is critical. Unfortunately, its condition is also critical, which means that Israel's is too. It does not take a genius to know that time works against Israel. If, God forbid, the land is not divided, it is Israel that will lose (perhaps everything) while the Arabs (the overwhelming majority in the region and, within a few years, the majority in Israel) will win. They can simply wait the Israelis out and watch the incredible Zionist enterprise disappear. Without the two-state solution soon, the one-state solution is unstoppable. Those of us determined to prevent that from happening, who fight against the policies of the status quo, are the ones entitled to claim the proud label "pro-Israel." Those others, the political apparatchiks, should find themselves a new one, like maybe "political player on Israel issues" because "pro-Israel" most decidedly does not apply. Being pro-Israel means caring about Israel, even loving it. It does not mean using it as an excuse for power brokering and suppressing dissident voices. Israel is more than its most strident supporters here seem to understand. If they understood how much more, they might be less cavalier about advancing policies that jeopardize its prospects for survival. To read more: go to www.israelpolicyforum.org More on Israel
 
Obama Addresses G-20: Watch Live Top
After meeting individually with leaders from Saudi Arabia, India and South Korea, and collectively with other leaders at the G-20 London summit today, President Obama is set to hold a 12:45 p.m. EST/5:45 p.m GMT press conference. We'll have the White House live feed here: [WATCH:] More on G-20 Summit
 
Medical Marijuana Vote Put Off Until Late April Top
It looks like a bill to legalize medicinal cannabis is on hold after state senators asked for several amendments to the bill. More on Health
 
Record Credit Card Charge-offs Top
NEW YORK -- Credit card write-downs soared to record levels in February, representing an all-time high in the 20-year history of the Moody's Credit Card Index, as job losses mounted, the rating agency said Wednesday. Credit card charge-offs, the write-down of uncollectable debt, advanced decisively to 8.82% in February, marking the sixth consecutive month of increases. The level, is more than 300 basis points higher than a year ago.
 
Michelle Obama Hugs Queen Elizabeth, Stirs Controversy (PHOTO, POLL) Top
*Scroll down for photo and poll* Much is being made of Michelle Obama and Queen Elizabeth's embrace. As the First Lady and Queen chatted at the G-20 reception at Buckingham Palace on Wednesday night, the Queen touched her hand to Michelle Obama's back, and the gesture was then returned (though reports vary as to who started). Royal etiquette dictates that the Queen not be touched unless she reaches out first. But did the Queen like it? The Daily Mail offers this eyewitness account: 'There was a bit of a bottleneck as all of the leaders filed out so the Queen started chatting to Michelle Obama. She appeared to look up at her and make a comment about how tall she was. 'As she did, she put her arm around Mrs Obama and rested her gloved hand on the small of her back.' Almost simultaneously, Mrs Obama put her arm around the Queen's shoulders rather more firmly. 'The pair then looked at their feet and appeared to be discussing their shoes. 'The Queen then dropped her arm and, a few seconds later, Michelle did the same. The entire exchange lasted around eight to ten seconds but was absolutely extraordinary.' No-one - including the ladies-in-waiting standing nearby - could believe their eyes. In 57 years, the Queen has never been seen to make that kind of gesture and it is certainly against all protocol to touch her. 'But she didn't seem to mind a bit and was smiling and joking throughout,' the eyewitness said. PHOTO: Time.com offers this explanation: Another defense for Michelle Obama, of course, is that she is not a subject of the Queen. (Australians, despite referendums attempting to turn themselves into a republic, still recognize the Queen as their head of state.) The First Lady of the United States is not required to curtsey before her or any other crowned head. In any case, the touch lasted just a second or two, and the Queen did not seem particularly perturbed -- though she appeared slightly surprised as she drew away. What do you think of this gesture? Michelle Obama is well-known for her hugs. See a slideshow of them here. More on Michelle Obama Style
 
Keira Knightley Beaten In Domestic Violence Ad (VIDEO) Top
Keira Knightley reteamed with her "Atonement" and "Pride & Prejudice" director Joe Wright, this time for an ad. The actress filmed a spot about the dangers of domestic violence, in which she gets beaten by a fictional boyfriend who believes she is having an affair. The ad, seen below, begins with Knightley leaving a film set and arriving home to find her angry accusatory man. She then gets brutally attacked. Keira said : 'I wanted to take part in this advert for Women's Aid because while domestic violence exists in every section of society we rarely hear about it." The ad debuts on April 6 in the UK. WATCH: More on Video
 
Michelle Obama Favored More Than Barack: Poll Top
Stop the presses. First Lady Michelle Obama now appears to have a higher favorability rating than her husband. More on Barack Obama
 
Betsy Perry: A Digi-Dud Does DigiGirlz Day At Microsoft And Loves It! Top
Microsoft for dummies? That's me and you can bet this dummy dragged her Roger Vivier patent leather shoes very reluctantly over to spend a day with 75 high school girls — all of whom got a get- out-of-school-free card to learn about the tech field and why they should consider it in their future. Of course I was the oldest in the class and quite possibly my future is behind me but nonetheless with the economy teaching us to be flexible I may need Microsoft to hire me...and that, my friends, would be the end of the company. How bad could spending the day with smart seniors be when I zeroed in on the Dunkin' Donuts boxes with their rainbow assortment of chocolate sprinkled and oozing banana crème carbo supply and Rachael Ray approved coffee — I am so not a Starbucks kind of gal. On those two facts alone, I knew Microsoft was my kind of office (I had a clue as to what was ahead when I was technically unable to open the coffee container and had to be assisted by one of the kids). It was obvious the Microsoft attending staff knew a baby boomer was present and they coddled me much as I would with an elderly relative. In truth, where tech stuff is involved, I am dud level; my ears shut down, I start to giggle and memories of my high school years at the Brearley School drift back where I was not exactly a stellar student — as I recall my fourth grade math teacher told me her poodle could count better than me. This is year three of the Microsoft New York office inviting girls in to learn that geek is good and that you don't have to go into programming to work in technology. What amazed me was learning they hire people to test the toys — playing Xbox all day and getting a paycheck?? In truth, I was kind of into the programming part since it's way cool. We got to see the new Microsoft toys like the $15,000 Surface which looks like a coffee table loaded with deliciously programmed software you work by touching; the Surface ripples like water (get it) and can be programmed for corporations or hospitals or individuals (I see a new Neiman Marcus must-have gift coming up once Gordon Gecko is released from jail and greed is good again). I got to ask what the word "Cloud" meant so I can throw that term around - but just don't press me because the depth of my knowledge is really best used at cocktail parties. I kind of flunked Windows Vista Movie Making and picture album class but raised my hand to tell Tobey the teacher how much I loved the Microsoft television commercial with the 4 year old downloading pictures of her fish, Dorothy. Effective advertising I'd say although Tobey was probably wondering why my question was relevant to our class project. We had a mobile phone class and learned about smart phones and how the defense department loads them with medical information for soldiers in the field and it was breathtaking — it's so all about the phone going forward! Landlines beware. I was absolutely filled with enthusiasm as I headed into my final class about online security and safety but skipped out when I realized no predator would want me anymore and I've been taught to not put anything in an email you don't want either haunting you in cyberspace or being read by your boyfriend's wife — the last part is my personal reason for being cautious. So what did I learn in DigiGirlz school today? I learned in another life, I could be a good girl geek, but, that truly the best way for me to have Microsoft in my future is to buy the stock — ticker symbol MSFT. So with my smart phone I speed dialed my broker. More on Microsoft
 
Sharif Criticizes Obama's Regional Strategy Top
Nawaz Sharif, the Pakistani opposition leader and former prime minister, on Wednesday criticised the new US strategy for Afghanistan and Pakistan, telling the FT that it was only slightly different from the disastrous one pursued by George W. Bush. More on Barack Obama
 
Andrew Winston: Rising Transparency -- One Way to Avoid Massive Market Failure Top
Last week, Hernando de Soto (the insightful Peruvian economist and author of The Mystery of Capital) wrote one of better pieces I've seen about the financial meltdown and all these "toxic assets." In the Wall Street Journal , De Soto made the compelling case that "the real problem is not the bad loans, but the debasement of the paper they are printed on." The $50 trillion in bad paper, he says, is far more than the $1 trillion in subprime mortgages that supposedly started all of this. To put the magnitude of the derivative financial creations in perspective, de Soto describes simply the scale of all assets in the world: $100 trillion of tangible goods (land, buildings), $170 trillion of semiliquid asssets (mortgages, stocks), and $1 quadrillion of new derivatives (mortgage-backed securities, collateralized debt obligations, and so on). Let me repeat that. One quad-rill-ion -- as in one thousand trillion. First, I've never heard anyone use figures like that outside of my 5-year-old making jokes about wanting infinity or googol more minutes to play a favorite game before bedtime. Ok, shocking numbers aside, de Soto outlines six prescriptions to avoid this kind of market failure in the future. In short, the answer is making sure "property" is not some financial figment, but something definable and trackable, something we can guarantee the value and legitimacy of. The first two guidelines he provides are why I'm writing about this. First, he says, "all documents and the assets and transactions they represent or are derived from must be recorded in publicly accessible registries." Second, "the law has to take into account the 'externalities' or side effects of all financial transactions..." This sounds an awful lot like themes of sustainability and business. Internalize the externalities and get much more knowledgeable and open about your impacts. I couldn't agree more. The solution de Soto recommends hinges on a renewed commitment to transparency so there's no "back-room" financial market that regulators and, more importantly, investors can't see. Transparency is one of the driving forces keeping the green and sustainability waves moving (it's a theme I touch on in my new book, Green Recovery, coming out this summer, so I'll return to this topic over the coming months). I believe that we're rapidly entering an era of radical openness, driven both by regulation -- see the EPAs recent announcement that it plans to "ask" 13,000 facilities in the United States to share data on carbon emissions -- and the rising demands of employees and customers, particularly the younger ones. The new level of transparency will make any of us old enough to remember a world before MTV uncomfortable. But the Facebook and MySpace generation will have no problem with it -- in fact, they'll be expecting it. A renewed transparency drive may be partly fueled by the latest emotional issue of the day -- executive pay and bonuses. I don't really believe in government-mandated 90% tax brackets for bonuses, no matter how repugnant the payments may seem. But I do think the government can set standards for openness. Let's list everyone who got bonuses at these firms and how much they made. Let the court of public opinion (and that of peers and co-workers) be the judge. I'm going to make a seemingly unlikely prediction: companies will increasingly reveal all salaries and bonuses (far beyond sharing the pay to a few top executives as required by the SEC). The most responsible companies already do this to some extent -- Seventh Generation has a public commitment to keeping the CEOs salary below 14 times the lowest salary. The biggest companies will, painfully, follow suit (about sharing, not about the 14x multiple) over the coming years as it becomes clear that the more open they are, the more trustworthy they'll be. Imagine what openness about salaries and bonuses might do for some other thorny issues, such as equal pay for women and minorities. Wal-Mart is facing a highly publicized class action suit about its treatment of women. Will complete openness about pay generate more of these kinds of claims, or help companies avoid these problems? I have no idea, but I certainly hope it's the latter since the transparency is coming, like it or not. How do you prepare for this new open world? It's not easy, but some of those old grandmotherly maxims seem to gain some force: don't say anything about anyone that you wouldn't be comfortable with that person hearing...or don't do anything you wouldn't want on the cover of the paper...or the standard Golden Rule certainly comes to mind. No doubt there will be some real challenges in handling increased transparency, but my hopeful view is that it will drive more ethical, sustainable behavior. In this view, those who can't meet the standard will struggle. But those companies that are proud of their operations will be fine talking about what's in their products, how products are made, how much energy they use, how much they pay people, who else is involved in the production, and what their executives receive in compensation. They will also attract and retain the best people who trust their employers. And they will build a more loyal base of customers that feel the authenticity. Sorry for all the unbridled optimism in such a pessimistic time, but maybe it's time to look on the bright side of some of these massive changes in the works. This post first appeared at Harvard Business Online . Andrew Winston helps companies use environmental thinking to grow and prosper. He is co-author of the best-seller Green to Gold , writes a monthly e-letter Eco-Advantage Strategies , and regularly blogs on green business.
 
TV Stations Reject Ad That Sounds Like 911 Call Top
Local TV ad sales may be plunging in Chicago and nationwide, but some TV ad departments still are refusing to air certain ads. Executives with K&G Fashion Superstores and the chain's ad agency Devito-Verdi/New York were taken aback when their 911-inspired television commercial was roundly rejected by both ABC-owned WLS-Channel 7 and Tribune Broadcasting-owned WGN-Channel 9.
 
G20Voice: Simon Berry Live From G-20: Bob Geldof On Condoms, The Pope And ColaLife Gel (VIDEO) Top
Cross-posted from ColaLife.org Thanks to Nick Booth’s ( podnosh ) journalistic instincts I was able to get in front of Bob Geldof and, rather nervously, explain the ColaLife campaign to him. He got it and had some interesting observations. It is clear we share a similar view on the Pope’s recent comments on condoms. See the original post with Nick’s commentary here . This what happened immediately after my conversation. I got in just in time. After the conversation with Bob Geldof, I was interviewed by the Associated Press...who know’s where that will end up. [WATCH:] Simon Berry talks to Bob Geldof about Colalife.org, condoms and the Pope from Podnosh on Vimeo . More on The Pope
 
New Ballpark Food: White Sox Getting A Wine Bar Top
And wine by the glass at the Cell? Believe it; a wine bar (actually a free-standing cart) on the lower level, along the first-base line, will dispense wines by the glass for $7.50 and $9.50. More on Food
 
Cantor: Dems "Overreacting" To The Economic Crisis Top
GOP Whip Eric Cantor thinks his party can retake the House in next year's midterm elections -- and accused Democrats of "overreacting" to the economic crisis by embarking on a federal spending spree. The Virginia Republican, speaking to reporters at the Christian Science Monitor breakfast Thursday morning, praised Rush Limbaugh for his "ideas" and for avoiding the Democratic error of "overreacting, as they often will, to crisis."
 
Obama Works To Oppose European Efforts To Create Cross-Border Regulatory Authorities Top
Britain predicted on Thursday that world leaders would bridge their differences on steps to recover from the deepest global economic downturn since World War II, as President Obama and his counterparts from more than 20 industrial and developing countries began a day of talks here. Prime Minister Gordon Brown, who greeted Mr. Obama and the other leaders in a seemingly endless cavalcade of motorcades, said the Group of 20 had agreed to tough language against protectionism, including a pledge to "name and shame" countries that erect trade barriers. More on Timothy Geithner
 
Obama G-20 Thursday Schedule Top
The following is President Obama's Thursday G-20 Summit schedule , according to the White House: - 3 a.m. ET/8:00 a.m. local time: Meets with leaders of South Korea - 3:30 a.m. ET/8:30 a.m. local time: Attends G-20 leaders breakfast - 4:50 a.m. ET/9:50 a.m. local time: Attends G-20 opening plenary session - 8:25 a.m. ET/1:25 p.m. local time: Attends G-20 leaders lunch - 9:30 a.m. ET/2:30 p.m. local time: Attends G-20 afternoon plenary session - 10:45 a.m ET/3:45 p.m. local time: Meets with leaders of Saudi Arabia - 11:30 a.m. ET/4:30 p.m. local time: Meets with leaders of India - 12:45 p.m. ET/5:45 p.m. local time: Holds a news conference More on G-20 Summit
 
City Building Backup Emergency Call Center At O'Hare Airport Top
Amid cloak-and-dagger secrecy, the Daley administration is building a backup 911 center at O'Hare Airport to handle emergency calls if a terrorist attack or natural disaster damages Chicago's primary facility in the West Loop, City Hall sources said Wednesday. More on Terrorism
 
Progressive Ideas Network: Education by Inches? Top
With all of President Obama's lofty rhetoric on education, surprisingly few innovative policies have materialized. While he recognizes that "a good education is no longer just a pathway to opportunity -- it is a prerequisite," his policies haven't yet matched his words. We know--Obama knows--that the rest of the world is passing ahead of us in education and competitiveness. The current education strategies limit our progress, but rather than leaping forward we continue to slowly plod, keeping our heads down and ignoring the length of the journey and the speed of our competitors. To catch up, to ensure a quality higher education for every aspiring student, we must look towards the horizon and start accelerating. Obama did prioritize education in his 2010 budget and stimulus package, more than doubling the size of the education department's budget and making Arnie Duncan one of the most powerful Education Secretaries in history. Though much of the $100 billion in stimulus education money will go to K-12 programs, Obama's plan will significantly invest in existing federal higher education programs. Their three-pronged approach to confronting disparities in higher education and college costs deserves praise for its simplicity and short-term impact. Expanding the Pell Grant program by $17 billion over the next four years addresses a clear need and increases college opportunities without increasing federal bureaucracy. Investing $200 million in Federal Work Study programs (FWS) empowers students to take responsibility for their education while not saddling them with pernicious post-college debt. And the HOPE tax credit, expansion of 529 savings plans, increased job training programs and other education investments provide much needed money and direction to existing government initiatives. But we can't just slowly push our programs and agencies in the right direction. We need bolder, bigger action; the times demand it. Our future and the social, economic and cultural health of our nation depend on an educated populace. We have a moral imperative and an economic necessity to ensure that our higher education system is accessible to all and competitive across the world. And current plans don't move us far enough in that direction. Our solutions must match the scale of our problems. The skyrocketing cost of college tuition has not only put increasing strain on current middle class families, but has threatened to make higher education a luxury accessible only to the rich. Our generation will be confronted with some of the most daunting challenges of the past century--from a two-theater war, to a global energy crisis to a worldwide recession. We will be competing for jobs with not just our neighbors down the street or graduates from across the country, but with applicants from around the world. We need the skills and knowledge to confront these challenges--and that requires not only bigger thinking but action on a grand scale. As we highlight in Thinking Big , a new book by the Progressive Ideas Network, this country needs to start i nvesting in its future with significant outlays for innovative education programs, including teacher training, school construction and technology overhauls. Right now we're inching forward. That's no way to win a race. -David Carlson and Nate Loewentheil, The Roosevelt Institution David Carlson serves as Roosevelt's Education Policy Director and Nate Loewentheil serves as Executive Director: www.rooseveltinstitution.org.
 
KISSES! Kate Moss, Jennifer Lopez & More Party In New York (PHOTOS) Top
Kate Moss, Jennifer Lopez, Marc Anthony, Anna Wintour, Marc Jacobs, Rosario Dawson and more turned out at a dinner Wednesday night at New York's Balthazar restaurant to celebrate the flagship store opening of Topshop in the US. Moss designs an absurdly popular collection for the fashion-forward, budget-friendly store. PHOTOS: More on Photo Galleries
 
Steve Clemons: Lurking Defense Secretary Provides Adult Supervision and Stabilizes Obama National Security Team Top
Defense Secretary Robert Gates , much less visible than any other personalities on the Obama national security team roster, is playing the role of "steady hand" on the President's team. Gates has demonstrated this by keeping his own profile down while his national security colleagues, Secretary of State Hillary Clinton and Vice President Joe Biden in particular, chase the spotlight to a greater degree and seemingly crave visibility and credit for various moves and shifts that the Obama administration has made. The way they are playing their roles is natural. Gates hangs back in contrast, advising, lurking -- and laying the groundwork for change with Russia, China, even perhaps Iran. Gates has momentarily come out of the shadows and made two key statements that are particularly important and show him to be a steadying influence and stabilizer on the Obama team. First, he has pushed back against military command requests for more troops and a larger "military footprint" in Afghanistan. General David Petraeus made clear in testimony yesterday that commanders were seeking 10,000 more troops than those already requested by President Obama -- but Gates is publicly expressing his discomfort with this course and thinks that the current troop levels committed and new strategy needed to be field tested before considering pouring more combat forces into the Afghanistan-Pakistan equation. Secondly, as Demetri Sevastopulo has just written in an important Financial Times piece , Gates is pushing newly sworn in Prime Minister Benjamin Netanyahu back on Iran. In a report by the Atlantic Monthly 's Jeffrey Goldberg, Netanyahu bluntly stated that Israel would take care of Iran if the United States did not. Gates, in the Sevastopulo interview, essentially knocks Netanyahu back by suggesting that he thinks we are not close to any "red line" action against Iran. Joint Chiefs of Staff Commander Michael Mullen has similarly emphasized that the Middle East is already unstable enough at the moment -- and more instability would not be welcome. Demetri Sevastopulo writes : Robert Gates, US defence secretary, has said Israel is unlikely to attack Iran this year to prevent Tehran from developing a nuclear weapon. In an interview with the Financial Times, Mr Gates said there was still enough time to persuade Iran to abandon what is widely perceived to be a nuclear weapons programme. Mr Gates said he does not expect Israel - which believes the US estimate for when Iran could develop a nuclear weapon is too sanguine - to take military action this year. "I guess I would say I would be surprised...if they did act this year," said Mr Gates. As he was sworn in as the new Israeli prime minister this week, Benjamin Netanyahu warned that the greatest danger to Israel was Iran's attempt to develop nuclear weapons. But asked whether Iran would cross a nuclear "red line" this year, Mr Gates said: "I don't know, I would guess probably not". "I think we have more time than that. How much more time I don't know," said Mr Gates. "It is a year, two years, three years. It is somewhere in that window." Israel raised the spectre of war last year by conducting a large scale military exercise that some experts saw as a practice run for an attack on Iran. Admiral Mike Mullen, the chairman of the US joint chiefs, later delivered an unusual public warning following a visit to Israel, saying "this is a very unstable part of the world, and I don't need it to be more unstable". From what we know at this moment, Robert Gates deserves credit on a number of fronts. These include de-colonizing the intelligence bureaucracy that Donald Rumsfeld aggrandized around the Department of Defense that then undermined much of the intelligence reform that was part of establishing a new Directorate of National Intelligence. Gates has also been an impressive lead proponent in trying to lessen -- on a relative basis -- the military dimensions of America's response to international security problems and has called for far greater resources for our diplomatic efforts, aid efforts, at overall State Department resources. Like Vice President Biden, Gates seems cautious about advocating much larger US troop deployments and a bigger "military footprint" than already exist in Afghanistan -- and now he is making himself the personal "offset" for Netanyahu's strident commentary about Iran. Gates is setting an example in how to manage the complex challenges facing the Obama team that others would be wise to follow. He seems focused on strategy and generating the outcomes America needs -- and seems reluctant to support reckless deployments of power abroad, which was more characteristic of the last President he served, and thinks that the real bridge-building and strategic shifts America needs will combine behind the scenes type work like he is doing followed by the photo-ops that he leaves to his administration comrades. Obama would be smart to encourage similar steadiness -- and to a certain degree, selflessness, among those executing his policies. National Economic Adviser Lawrence Summers comes to mind as someone who should sign up for lessons from the lurking but constructive Defense Secretary. -- Steve Clemons directs the American Strategy Program at the New America Foundation and writes the popular political blog , The Washington Note More on Afghanistan
 
Somali Terrorists Rap In English To Attract Recruits Top
A propaganda video by Islamic extremists in Somalia features appeals to foreign recruits from an "American" fighter along with English rapping and songs, a US monitoring group said Tuesday. More on Somalia
 
New Jobless Claims At 669,000, Highest In More Than 26 Years Top
WASHINGTON — The number of people filing new jobless claims jumped unexpectedly last week, while those continuing to receive benefits hit a 10th straight record-high. Both figures show the labor market remains weak and is unlikely to recover anytime soon. The Labor Department said Thursday that initial claims for unemployment insurance rose to a seasonally adjusted 669,000 from the previous week's revised figure of 657,000. That total was above analysts' expectations and the highest in more than 26 years, though the work force has grown by about half since then. The tally of laid-off workers claiming benefits for more than a week rose 161,000 to 5.73 million, setting a record for the 10th straight week. That also was above analysts' expectations and indicates that unemployed workers are having difficulty finding new jobs. The continuing claims data lag the initial claims by one week. An additional 1.5 million people received benefits under an extended unemployment compensation program approved by Congress last year. That's as of March 14, the latest data available. As a proportion of the work force, the number of people on the jobless benefit rolls is the highest since May 1983. The four-week moving average of jobless claims, which smooths out weekly volatility, rose to 656,750, the highest since October 1982, when the economy was emerging from a steep recession. Employers are eliminating jobs and taking other cost-cutting measures to deal with sharp reductions in consumer and business spending. The current recession, now in its 17th month, is the longest since World War II. The jobless claims data come a day before the department is expected to issue another dismal monthly employment report. Economists forecast that report will show employers cut 654,000 jobs in March, while the unemployment rate increased to 8.5 percent from 8.1 percent. Companies cut their payrolls by 651,000 jobs in February, a record third straight month of job losses above 600,000. A private survey Wednesday said businesses cut 742,000 jobs in March. Employment at medium- and small-sized companies fell the sharpest _ by a combined 614,000. The rest of the job cuts came from big firms _ those with 500 or more workers_ according to the report from Automatic Data Processing Inc. and Macroeconomic Advisers LLC. More job losses were announced this week. 3M Co., the maker of Scotch tape, Post-It Notes and other products, said Tuesday it's cutting another 1,200 jobs, or 1.5 percent of its work force, because of the global economic slump. Fewer than half the jobs will be in the U.S., but include hundreds in its home state of Minnesota. The 1,200 figure includes cuts made earlier in the first quarter. Elsewhere, healthcare products distributor Cardinal Health Inc. said it would lay off 1,300 employees, or about 3 percent of its work force, and semiconductor equipment maker KLA-Tencor Corp. said it will cut about 600 jobs, or 10 percent of its employees. Among the states, California reported the biggest increase in new claims for the week ending March 21 with a jump of more than 6,700, which it attributed to layoffs in the construction and service industries. The next largest increases were in Missouri, Kansas, Oklahoma and Iowa, according to the Labor Department data. The biggest drop was in Texas, which had 4,822 fewer claims as the trade, service, manufacturing and transportation industries cut fewer jobs. New York, Tennessee, Illinois and Virginia had the next largest declines. The Federal Reserve has cut a key benchmark interest rate to nearly zero in an effort to jump-start lending and embarked on a series of radical programs to inject billions of dollars into the financial system. The Obama administration's $787 billion stimulus package, approved by Congress in February, is trying to counter the recession by providing money for public works projects, extending unemployment benefits and helping states avoid budget cuts.
 
G-20 Group Photo: Spot Who Is Missing Top
Canada's CBC News reports that the traditional photo of the G-20 leaders had to be retaken after one world leader failed to show up. [Canadian Primer Minister]Harper met with his officials following the first working session in London on Thursday morning when the picture -- dubbed the family photo -- was scheduled to be taken. Officials said the prime minister was getting a quick briefing on changes to the communiqué that is expected to be released by the G20 at the end of the summit. But the BBC has a different story. They say Harper was using the restroom during the shot. The Globe and Mail says a second "family photo" has been taken. While the group assembled for the second time, a smiling U.S. President Barack Obama sidled over to shake the wayward PM's hand. Redo: More on G-20 Summit
 
Child Knows More About Home Weatherization Than You Do Top
If this kid can remember all of the reasons to weatherize a house -- and how to do it -- so can you. Check out this video from the Sierra Club. More on Green Living
 
Bill O'Reilly Book On Obama Due In 2010 Top
Bill O'Reilly, celebrating his 100th consecutive month as cable news' top-rated host with a media blitz, told New York Post columnist (and News Corp cousin) Cindy Adams about his next book — and it's about President Obama. "My next book, out the latter part of 2010, is on Obama," he said. "He's becoming a historical figure not because he's black, but because his liberal agenda is taking the country in a direction we've never been before." O'Reilly recently boasted , "Obama is sending my ratings through the roof." His latest book, A Bold Fresh Piece of Humanity , has been on the New York Times bestsellers list for 23 weeks, where it currently ranks 8th . More on Bill O'Reilly
 
White People Problems (VIDEO) Top
Zach Selwyn and Eli Braden, the guys who brought you Joaquin Phoenix's best rap song , are back with a vengeance. They are so deeply upset that Trader Joe's is out of arugula and that John Mayer canceled his latest show. They have "white people problems." This video is kind of the rap version StuffWhitePeopleLike.com . Awesome. WATCH: White People Problems Atom.com: Funny Videos | Atom Originals | Sing-Alongs More on Funny Videos
 
Geithner's Toxic Assets Plan Full Of Loopholes Top
It has been a little less than two weeks since Treasury Secretary Timothy F. Geithner unveiled the details of his project to restore banks to financial health. But analysts say hedge funds and investment banks are already looking for ways to exploit the complex web of auctions, public-private partnerships, and government guarantees proposed by Treasury to cleanse banks' books of toxic assets. "It's a highly gameable system," says H. Peyton Young, an Oxford University economist and a senior fellow at the Brookings Institution in Washington. "It's very difficult to write rules that are going to prevent self-dealing behavior." More on Timothy Geithner
 
Shelly Palmer: X-Men Origins: Wolverine Leaks, Is This A Good Thing?: MediaBytes with Shelly Palmer April 2, 2009 Top
A month before its scheduled premier, a work print of X-Men Origins: Wolverine has leaked to the Internet . While Fox claims the leak is a "rough cut without FX, music, and may contain an April Fool's virus," many torrent users, who think it's a "pretty decent" version, seem to be holding off on viewing the film until it is in theaters, or are watching the rough cut in anticipation of "how awesome" the CGI effects will be once post-production is complete. Most certainly a snafu on Fox's end, the leak begs the question: is this a serious screw up or just good viral marketing? Former AOL CEO Jonathan Miller has been named the Head of Digital Media Businesses for News Corp . Miller, who ran AOL from 2002-2006, will oversee MySpace, IGN Entertainment and News Corps share of Hulu. Upon appointing Miller, News Corp CEO Rupert Murdoch said "Our focus moving forward is twofold: to enable our digital businesses to flourish as individual entities and to bolster the digital strategies of our core media properties by treating them as central to, and not separate from, the enterprise." After months of negotiations, The Weinstein Company and NBCU have finally reached an agreement over Project Runway , which will air on the Lifetime Network. The first five seasons of the successful fashion oriented show aired on Bravo!, an NBCU network, before The Weinstein Company signed a five-year deal with Lifetime and NBCU filed a violation of contract rights lawsuit. The disagreement has been settled out of court, with Harvey Weinstein saying "I want to personally congratulate Jeff Zucker and NBCU on their success in the litigation and thank Jeff for resolving this in a professional manner." CBS Sports announced that they will once again stream the Masters over the Internet . Masters Live will include coverage of "Amen Corner", as well as "15 & 16 live", and a Masters Extra channel, which will cover the course one-hour prior to network broadcast. In addition to being available on Masters.com and CBSSports.com, Tiger Wood's first major since his knee surgery will also be available as a free iPhone app. The Department of Justice is set to exonerate Senator Ted Stevens on seven counts of making false statements . Stevens, who at 85 lost his bid for re-election amidst scandal, will walk free after the DoJ deemed the prosecutions mishandled witnesses and withheld evidence. Unfortunately, Stevens was not charged with making false statements about the Internet, which he called "a series of tubes." Shelly Palmer is a consultant and the host of MediaBytes a daily show featuring news you can use about technology, media & entertainment. He is Managing Director of Advanced Media Ventures Group LLC and the author of Television Disrupted: The Transition from Network to Networked TV (2008, York House Press). Shelly is also President of the National Academy of Television Arts & Sciences, NY (the organization that bestows the coveted Emmy® Awards ). You can join the MediaBytes mailing list here . Shelly can be reached at shelly@palmer.net . More on iPhone
 
Gates Foundation, Viacom Partner For "Message Placement" On TV Shows Top
Now the Gates Foundation is set to expand its involvement and spend more money on influencing popular culture through a deal with Viacom, the parent company of MTV and its sister networks VH1, Nickelodeon and BET. It could be called "message placement": the social or philanthropic corollary to product placement deals in which marketers pay to feature products in shows and movies. Instead of selling Coca-Cola or G.M. cars, they promote education and healthy living. Last week in New York Mr. Gates met with Philippe P. Dauman, the chief executive of Viacom, to go over a long-in-the-works initiative that would give Mr. Gates's philanthropic organization something any nonprofit would cherish: an enormous megaphone. The new partnership, titled Get Schooled, involves consultation between Gates Foundation experts and executives at all Viacom networks that make programming decisions. Their goal is to weave education-theme story lines into existing shows or to create new shows centered on education. More on Bill Gates
 
Krugman Wants Anyone Making More Than 75K In Jail: Morning Joe Panelists Top
What, exactly, is it about Paul Krugman that gets the blood boiling for so many pundits? The Nobel Prize winning economist was the object of derision on Thursday morning, with panelists of MSNBC's "Morning Joe" wondering aloud if he was a crazed anti-capitalist demanding that anyone making a profit be thrown behind bars. First came Jim Cramer. "I think Goldman is a great firm," said the CNBC host, still fighting the perception of being a Wall Street apologist. "The good guys are in charge. [Lloyd] Blankfein is a fabulous guy. Do people want him in jail? Does Paul Krugman want him in jail? Where do they want these guys?" He would be outdone only by Mike Barnicle, who chimed in at that point: "Paul Krugman wants anyone who makes over $75,000 a year in jail." Right. It would take Time Magazine's Rick Stengel, after declaring that, "all the guys I went to college with" worked for Goldman -- to actually suggest why someone might not be completely enamored with the firm. "They are all retired now," Stengel said of his friends, "they were retired five years ago. It's like that old joke, I'm glad I got it out while I can, because there's a lot of people -- and I'm not saying these guys did -- took advantage of the lack of regulations, they accumulated their pile, they got away and as the French say, money doesn't have any odor. They're gone. They're happy. They're fine." More on Morning Joe
 

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