Mysteries From The News

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Last One To Know Dept: Is it true that when the top execs went to Washington this week to beg for free money for their suffering sad companies, each one flew in his own private jet?

Quiz:  1. Why was this not a good idea?  2. Why doesn’t this surprise me?

No Sympathy for GM, Ford, Chrysler

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3 thoughts on “Mysteries From The News

  1. I’ve heard that the roundtrip tab for each of the three jets was around $20,000. Unlike you, I am constantly surprised by the astounding lack of perception corporations routinely display.

    Another example: During the past few weeks, the California State University system has been warning that the economic situation and resultant budgetary shortfalls might force them to severely limit new admissions, while raising the fees of students who are already enrolled. Then they did exactly that.

    So what?

    Well, a few days after announcing the admission rollback, the regents approved significant raises for more than a dozen senior administrators. The largest raise was…19%.

    And yet one more example: The investment banking firm Goldman Sachs, which received a $9.8 billion public funds bailout in the not-too-distant past, recently held a party in San Francisco for some of their well-heeled clients. The formerly beleagured company rented the newly-refurbished California Academy of Science in Golden Gate Park ($30,000)and brought in a little something for the guests to nibble on while enjoying a beverage or two of their choice ($50,000). Various incidentals brought the tab up to between $90-$100,000 according to numerous Bay Area news sources.

    Well, as F. Scott Fitzgerald wrote: “The bailed out are different than you and me.”

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  2. This isn’t surprising. The audacity of some of these execs will be their downfall. The conservative business men are as appalled by their greed as the liberal among us. The time may have come to let them crash and burn rather than bail them, or else they have to be required to play by the rules the rest of us live by. They have controlled and called shots long enough, they and the oil oligarchy. Maybe now, finally, something will change? Time for alternative fuels may have arrived, pressing these greedheads into submission the only way possible, through their wallets.

    As an aside, I have wondered why a country like Germany is able to utilize solar energy to a great extent and we here, especially in the desert southwest with 300+ days of glaring sunlight a year, still don’t see it as feasable?

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  3. I think the cynics among us (fie, cynics!) would say we will never have ‘energy independence’ as long as there is a barrel of oil left in the ground. Why German oil corporations don’t take the same approach is worth reading up on. Why is the German government less influenced by Big Oil?

    I see that Obama’s transition team is loaded up with ex-lobbyists after he flat out promised he would never have a lobbyist or ex-lobbyist in his employ. That’s a hint about how we do it in the good old USA.

    On the plus side, the president of Washington’s state university system had just taken a voluntary reduction in salary of $100 grand a year. Says he’s going to have to make a lot of cuts and feels he has to lead the way.

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