Looks like Greenfield will get the room occupancy excise tax increase anyway, since the Mayor failed to inform the City Council as to why he vetoed their approval of the increase and its now to late to overturn the decision. The Recorder reports he hasn't asked the council to reverse themselves either.
So I guess Greenfield is now semi-business friendly.
Saturday, August 29, 2009
Wednesday, August 26, 2009
Good For Hadley.
Hadley town meeting quickly and decisively accepted the optional excise taxes. Now lets see how many businesses flee to Greenfield where the Mayor is taking a "pro-business" stand and rejecting the revenue. Doubtless there will be traffic backed up on the I-91 exits as diners flock to the culinary center Greenfield will become.
By October 1, virtually no one will remember which towns have the excises and which don't, although the prospects of someone setting up a web site to remind us remain high. Overall, there seems to be less opposition to the room occupancy excise than the meals, probably because of the notion that folks from elsewhere stay at hotels. Neither tax will amount to much in terms of consumer demand and for many communities won't raise a significant amount of revenue or cover the loss in state aid. A band-aid solution to the whole issue of local revenues and sustainability.
Spare me the "anti-business" argument. The real local barriers to entry for businesses lie in overly zealous zoning and land use regulations, painfully slow and complicated permitting, and inadequate infrastructure.
As for the obligatory New Hampshire comparison, you can live free or die but pay an 8% meals tax and a 9% occupancy tax.
By October 1, virtually no one will remember which towns have the excises and which don't, although the prospects of someone setting up a web site to remind us remain high. Overall, there seems to be less opposition to the room occupancy excise than the meals, probably because of the notion that folks from elsewhere stay at hotels. Neither tax will amount to much in terms of consumer demand and for many communities won't raise a significant amount of revenue or cover the loss in state aid. A band-aid solution to the whole issue of local revenues and sustainability.
Spare me the "anti-business" argument. The real local barriers to entry for businesses lie in overly zealous zoning and land use regulations, painfully slow and complicated permitting, and inadequate infrastructure.
As for the obligatory New Hampshire comparison, you can live free or die but pay an 8% meals tax and a 9% occupancy tax.
Ted Kennedy
I forget which state Democratic convention it was. I was a delegate, made my way into the Boston Garden and spotted Ted Kennedy, standing alone. I went up, introduced myself, thanked him for his work. Then I told him how, as a kid, I was inspired by his brother Bob's campaign for the senate in New York and getting the chance to see him in person. Senator Kennedy took my hand with both of his and said "You're so kind to remember my brother like that." A tear ran down his cheek.
Now its my turn to shed a tear.
Now its my turn to shed a tear.
Tuesday, August 25, 2009
Friday, August 21, 2009
When analogies go bad.
Nazis are big these days, given the "town hells" and what passes for trenchant political commentary there and elsewhere. Barney Frank's putdown of a hitlerizer has become viral but ThinkProgress offers this clip of a misguided soul yelling "Heil Hitler" at an Israeli commenting on Israel's health care system.
I'll now make the obligatory reference to Goodwin's Law and note that the woman (who supposedly was wearing a JDF tshirt), like her kindred spirit haranguing Barny have automatically lost the debate over health care, if they ever intended to engage in one. There's some irony in noting that the person who originally pointed out the "Reductio ad Hitlerum" fallacy was Leo Strauss, intellectual godfather to the neocons.
I'll now make the obligatory reference to Goodwin's Law and note that the woman (who supposedly was wearing a JDF tshirt), like her kindred spirit haranguing Barny have automatically lost the debate over health care, if they ever intended to engage in one. There's some irony in noting that the person who originally pointed out the "Reductio ad Hitlerum" fallacy was Leo Strauss, intellectual godfather to the neocons.
Wednesday, August 19, 2009
DDoSing Obama
Gotta hand it to spammers. If you're mad as hell at the Obama administration, some spammers are conveniently making available software that they claim will let you launch a denial of service attack against Obama's website. Of course, it installs malware on the teabagger/birther/death panelist's machine.
Here's the kicker: you're promised money if you download the software and are advised to return to the site for updates if your antivirus software interferes with the program. I guess that if one is gullible enough to believe that the Prez was born in Kenya and faked his birth here or actually has plans for killing off grandma, then one will take advantage of this offer.
h/t to CNET and Proofpoint for the reports.
Here's the kicker: you're promised money if you download the software and are advised to return to the site for updates if your antivirus software interferes with the program. I guess that if one is gullible enough to believe that the Prez was born in Kenya and faked his birth here or actually has plans for killing off grandma, then one will take advantage of this offer.
h/t to CNET and Proofpoint for the reports.
Monday, August 17, 2009
A complete unknown, with no direction home, just like a rolling stone
Bob Dylan got picked up by the police in Long Branch, NJ. Long Branch was one of those blue collar, working class, diverse Jersey towns that happen to be by the sea. With the real estate boom, developers came in and gentrified a stretch of the town near the ocean. Board walk, restaurants, high rise condos, and the like. Just beyond that lies a collection of smallish single family housing, not in the best upkeep, small city lots and home nonetheless. Dylan went wandering in that neighborhood and got stopped. The Globe has the story here, the Baltimore Sun opines here.
"Watch for plain clothes" doesn't quite fit since he was picked up by a uniform. Look out kid, something you did.
"Watch for plain clothes" doesn't quite fit since he was picked up by a uniform. Look out kid, something you did.
Saturday, August 15, 2009
The Real McCoy
The Bulletin publishes an editorial cartoon by Glen McCoy (no link) thereby affirming the opinion of those who feel its primary purposes are fish wrap or birdcage liner. Since its impossible to unsubscribe from a free newspaper, expect surplus copies to pile up.
Why run the cartoon? Perhaps the editor was trying to remind us of the alternative universe beyond reality or maybe the brain becomes fevered after practicing too many "hot squats" while running a hair dryer. Just sayin'.
Why run the cartoon? Perhaps the editor was trying to remind us of the alternative universe beyond reality or maybe the brain becomes fevered after practicing too many "hot squats" while running a hair dryer. Just sayin'.
Monday, August 10, 2009
More enlightened corporate leadership
Both the NY Times and the Financial Times are reporting that the Federal judge hearing the proposed settlement between the SEC and Bank of America is unhappy. It seems Judge Rakoff has issues with the amount of the settlement ($33 million vs $5.8 billion paid out in bonuses -- undoubtedly to retain the highly skilled) and the fact that BA neither admits or denies the charges.
My favorite line, which was edited out of the later story in the Times, has the BA attorney telling the judge that neither BA boss Lewis and now former Merill CEO Thain didn't know what was in the document they were signing, which was negotiated by their lawyers.
It was Judge Rakoff who refused the SEC/Worldcom settlement in 2003. You may recall that then Worldcom CEO Bernie Ebbers defended himself by saying he didn't know what was going on, it was his staff's fault.
My favorite line, which was edited out of the later story in the Times, has the BA attorney telling the judge that neither BA boss Lewis and now former Merill CEO Thain didn't know what was in the document they were signing, which was negotiated by their lawyers.
It was Judge Rakoff who refused the SEC/Worldcom settlement in 2003. You may recall that then Worldcom CEO Bernie Ebbers defended himself by saying he didn't know what was going on, it was his staff's fault.
Yes, this merits a bonus.
The Financial Times reports that US banks are on track to collect $38.5 billion in overdraft fees this year with those least able to pay being most likely to be hit. This is double from nine years ago. (Example: Bank of America charges $35 for a $6 overdraft and charges can build to $350 per day).
Of course they do this because of the risk involved in not knowing their customers, so says the attorney for the American Bankers Association. Of course, with higher risk comes the need for higher compensation.
The Need To Be Compensated seems to be a recurring theme. We all need adequate compensation, just seems some folks are more needy than others, like those risk taking bankers and brokers who live by their wits, in the jungles of capitalism, reading the Art Of War.
Of course they do this because of the risk involved in not knowing their customers, so says the attorney for the American Bankers Association. Of course, with higher risk comes the need for higher compensation.
The Need To Be Compensated seems to be a recurring theme. We all need adequate compensation, just seems some folks are more needy than others, like those risk taking bankers and brokers who live by their wits, in the jungles of capitalism, reading the Art Of War.
Sunday, August 9, 2009
It's Your Money....
Dean Baker takes on the argument that we gotta pay them bankers to keep the talent, this time the WaPo version:
If the Post had solicited the views of a populist, or an economist, they might have told readers that much of what the banks earn comes directly at the expense of consumers and businesses. For example, suppose that Goldman Sachs' large trading profits last quarter came in part from oil trades. This would mean that it managed to buy oil or oil derivatives on the way up, preventing oil companies from getting as much profit as they otherwise would have received. This is money that they could have used in developing new energy sources, as the oil companies so often tell us. Alternatively, if the run-up was purely speculative, Goldman's successful traders caused consumers to pay more money for gas and home heating oil than otherwise would have been the case. There would be a similar story if Goldman made its money on the way down, with the trader pulling way money that would have otherwise gone to consumers or producers.
The public has no obvious interest in subsidizing traders to speculate in financial markets. If the speculators win, then the loans that Goldman and the others receive will be repaid, but this repayment will only be a portion of the higher prices paid by consumers and lower profits earned by producers as a result of Goldman's speculation.
Moving beyond the world of speculation, it is not clear that the marginal contribution of the individual bank executives involved in the more mundane tasks of running a bank can run into the millions or tens of millions of dollars a year.
Subscribe to:
Posts (Atom)
