This one is from the New York Times:
The Bob Baker Marionette Theater’s shows, employing an eclectic selection of Mr. Baker’s 3,000 handmade puppets prancing about a shoebox-size theater perpetually decked out in gold garlands, are a staple of a Los Angeleno childhood. It is the cultural equivalent of the annual march by the nation’s third graders to the neighborhood firehouse.
But the struggling California economy and some bad business decisions by Mr. Baker have left the Bob Baker marionettes in a deep financial ditch, and Mr. Baker, a rather unheralded Hollywood legend, with an uncertain future. “We have all kinds of problems that have come up recently,” Mr. Baker said. “But we’re not going to close. We’re going to fight this out to the very bitter end.”
Over the last few months Mr. Baker, 84, has fallen $30,000 behind on his mortgage and lost a rent-paying tenant, while his two major sources of revenue have dried up. First, the public schools have reduced financing for field trips. And second, some of his lower-income parents, he said, unemployed and swimming in debt, are unable to come up with the $15-per-ticket admission.
Forget the Medicaid payments. Bail out my puppets!
Tuesday, December 2, 2008
Tuesday, November 25, 2008
Gimme My Bailout -- Turkey!
Ok, it's an old image, and even an older story. But they've both become traditions. So:
Yes, this turkey needs a bailout. Lucky for him (or her), we've got the official announcement from the White House
"President George W. Bush offers an official pardon to May, the 2007 Thanksgiving Turkey, during festivities Tuesday, Nov. 20, 2007, in the Rose Garden of the White House. In pardoning May, and the alternate, Flower, the President said, "May they live the rest of their lives in blissful gobbling. And may all Americans enjoy a holiday full of love and peace. God bless you all." White House photo by Chris Greenburg
Yes, this turkey needs a bailout. Lucky for him (or her), we've got the official announcement from the White House
"President George W. Bush offers an official pardon to May, the 2007 Thanksgiving Turkey, during festivities Tuesday, Nov. 20, 2007, in the Rose Garden of the White House. In pardoning May, and the alternate, Flower, the President said, "May they live the rest of their lives in blissful gobbling. And may all Americans enjoy a holiday full of love and peace. God bless you all." White House photo by Chris Greenburg
Gimme My Bailout -- Public Universities!
Let us say here, for the record,
if there's anything more meaningless than a bailout promise from the federal government, it's a non-binding resolution passed by the California Legislature. This is bound to solve all our problems...
For Immediate Release Contact: Alice Sunshine, 510.384.1967
November 25, 2008 Lisa Cohen, 310.395.2544
MEDIA ADVISORY
Assemblymember Anthony Portantino to Call on U.S. Government to Rescue Embattled Public Colleges and Universities
-- Higher Education Committee Chair to Introduce a Resolution to the CA State Assembly Next Week Calling for A "New Deal for a New Millennium for Higher Education" --
WHO:
Assemblymember Anthony Portantino, chair state Assembly Higher Education Committee
Dr. Lillian Taiz, President, California Faculty Association/ History Professor, Cal State L.A.
California State University faculty and students
WHAT:
A resolution calling on the U.S. government to come to the rescue of the nation’s embattled public colleges and universities, especially here in California, will be introduced in the California state Assembly on Monday, December 1 by a group of state Assemblymembers led by Anthony Portantino, chair of the Assembly Higher Education Committee.
WHEN:
Monday, December 1 at 11am
WHERE:
Reporters can cover the news conference in person or on the phone:
BY PHONE AT (866) 812-0403 (Ask for “New Deal for Higher Education”)
IN PERSON AT State Capitol, Room 127
For more information, contact Alice Sunshine at 510.384.1967 or Lisa Cohen at 310.395.2544.
if there's anything more meaningless than a bailout promise from the federal government, it's a non-binding resolution passed by the California Legislature. This is bound to solve all our problems...
For Immediate Release Contact: Alice Sunshine, 510.384.1967
November 25, 2008 Lisa Cohen, 310.395.2544
MEDIA ADVISORY
Assemblymember Anthony Portantino to Call on U.S. Government to Rescue Embattled Public Colleges and Universities
-- Higher Education Committee Chair to Introduce a Resolution to the CA State Assembly Next Week Calling for A "New Deal for a New Millennium for Higher Education" --
WHO:
Assemblymember Anthony Portantino, chair state Assembly Higher Education Committee
Dr. Lillian Taiz, President, California Faculty Association/ History Professor, Cal State L.A.
California State University faculty and students
WHAT:
A resolution calling on the U.S. government to come to the rescue of the nation’s embattled public colleges and universities, especially here in California, will be introduced in the California state Assembly on Monday, December 1 by a group of state Assemblymembers led by Anthony Portantino, chair of the Assembly Higher Education Committee.
WHEN:
Monday, December 1 at 11am
WHERE:
Reporters can cover the news conference in person or on the phone:
BY PHONE AT (866) 812-0403 (Ask for “New Deal for Higher Education”)
IN PERSON AT State Capitol, Room 127
For more information, contact Alice Sunshine at 510.384.1967 or Lisa Cohen at 310.395.2544.
Gimme My Bailout -- The UK!
Hey, wanna buy a nice little island or two in the North Atlantic? We know where you can get em for a song. Britain, it appears is on the brink.
The Bank of England's drastic rate cuts are a necessary but not sufficient stimulus. Monetary policy is failing to get traction because the credit system has broken down.
We face the risk of a rapid downward spiral if we misjudge the threat at this dangerous moment, as we sit poised on the tipping point. Besides, the whole world is now resorting to fiscal stimulus in unison under IMF prodding. Sticking together is imperative. If countries reflate in isolation, they can and will be singled out and punished. That is the lesson of 1931.
But this is not to excuse the Brown Government for the total hash it has made of the British economy. It presided over a rise in household debt to 165pc of personal income. How could the regulators possibly think this was in the interests of British society? What economic doctrine justifies such stupidity? Why were 120pc mortgages ever allowed? Indeed, why were 100pc mortgages ever allowed? Debt is as dangerous as heroin."
And hardly as fun...
The Bank of England's drastic rate cuts are a necessary but not sufficient stimulus. Monetary policy is failing to get traction because the credit system has broken down.
We face the risk of a rapid downward spiral if we misjudge the threat at this dangerous moment, as we sit poised on the tipping point. Besides, the whole world is now resorting to fiscal stimulus in unison under IMF prodding. Sticking together is imperative. If countries reflate in isolation, they can and will be singled out and punished. That is the lesson of 1931.
But this is not to excuse the Brown Government for the total hash it has made of the British economy. It presided over a rise in household debt to 165pc of personal income. How could the regulators possibly think this was in the interests of British society? What economic doctrine justifies such stupidity? Why were 120pc mortgages ever allowed? Indeed, why were 100pc mortgages ever allowed? Debt is as dangerous as heroin."
And hardly as fun...
Gimme My Bailout - The Credit Card Industry
OK, so the Treasury Dept. no longer wants to go into the real estate business and buy bad loans. Now, they want to bail out the folks that give lines of credit to anyone with a pulse, and loan money to us at 25 percent interest? Really?
"Paulson also announced that Treasury no longer plans to buy troubled mortgage-related assets from private banks – a move which the secretary admitted had been the original intent of the bailout.
“We asked for $700 billion to purchase troubled assets from financial institutions,” he said.
However, due to what Paulson described as a “considerably” more troubled financial market, Treasury has abandoned that goal.
“We are not planning to purchase illiquid mortgage assets,” he said.
Does this guy have any clue what he's doing?
"Paulson also announced that Treasury no longer plans to buy troubled mortgage-related assets from private banks – a move which the secretary admitted had been the original intent of the bailout.
“We asked for $700 billion to purchase troubled assets from financial institutions,” he said.
However, due to what Paulson described as a “considerably” more troubled financial market, Treasury has abandoned that goal.
“We are not planning to purchase illiquid mortgage assets,” he said.
Does this guy have any clue what he's doing?
Monday, November 24, 2008
Gimme My Bailout -- The Media Industry
It ain't just newspapers that need help. Here's the latest casulaty list from paidcontent.org.
Of course, not to be outdone, the MSM has some continuing problems of their own as this memo indicates, courtesy of no less a chronicler of the slow death of my industry that Jim Romenesco:
To: The newsroom staff
From: Ken Paulson and John Hillkirk
The current economic crisis has taken its toll on businesses nationwide, including USA TODAY. This will mean a cut in our 2009 budget, including the elimination of about 20 positions in early December.
We wish this wasn't necessary, but we're facing unprecedented economic challenges and we have to cut spending.
We'll have our regular monthly staff meeting Monday at 5 p.m. EST and will discuss this development and answer any questions you may have, but here are the basics: Those whose jobs are eliminated will receive severance consisting of 1 week of pay for each completed year of service, with a minimum of 2 weeks and a maximum of 26 weeks of severance.
If you'd like to volunteer for severance, please notify Lillian Perez in Human Resources by close of business on Dec. 1, using the attached form. Volunteers will receive the same compensation package. Any staff member may volunteer and will be considered for the severance, but there may be some limits based on overall newsroom needs.
The job eliminations - including those of volunteers - are expected to take place in early December, although under some circumstances, staff members may stay a few more weeks.
This is a difficult close to what has been an extraordinary year for this newsroom, including outstanding coverage of the presidential race, the Olympics and the stunning decline on Wall Street.
We'll talk about all of this on Monday. In the meantime, please feel free to drop by or send an e-mail with any questions.
Of course, not to be outdone, the MSM has some continuing problems of their own as this memo indicates, courtesy of no less a chronicler of the slow death of my industry that Jim Romenesco:
To: The newsroom staff
From: Ken Paulson and John Hillkirk
The current economic crisis has taken its toll on businesses nationwide, including USA TODAY. This will mean a cut in our 2009 budget, including the elimination of about 20 positions in early December.
We wish this wasn't necessary, but we're facing unprecedented economic challenges and we have to cut spending.
We'll have our regular monthly staff meeting Monday at 5 p.m. EST and will discuss this development and answer any questions you may have, but here are the basics: Those whose jobs are eliminated will receive severance consisting of 1 week of pay for each completed year of service, with a minimum of 2 weeks and a maximum of 26 weeks of severance.
If you'd like to volunteer for severance, please notify Lillian Perez in Human Resources by close of business on Dec. 1, using the attached form. Volunteers will receive the same compensation package. Any staff member may volunteer and will be considered for the severance, but there may be some limits based on overall newsroom needs.
The job eliminations - including those of volunteers - are expected to take place in early December, although under some circumstances, staff members may stay a few more weeks.
This is a difficult close to what has been an extraordinary year for this newsroom, including outstanding coverage of the presidential race, the Olympics and the stunning decline on Wall Street.
We'll talk about all of this on Monday. In the meantime, please feel free to drop by or send an e-mail with any questions.
Gimme My Bailout -- The BCS
Ugh. What a mess... If only I cared about college football. Maybe when U.C. Santa Cruz is in a BCS conference...
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