Monday, June 17, 2013
How duct tape patched up the world – and why we're still sticking with it
How duct tape patched up the world – and why we're still sticking with it - Cosmic Log:
"Is there anything duct tape can't do?
Well ... yes.
"What's ironic about duct tape is that it's really not the best product for sealing duct work," Malmer said."
"Is there anything duct tape can't do?
Well ... yes.
"What's ironic about duct tape is that it's really not the best product for sealing duct work," Malmer said."
Failte First Family: the Obamas touch down in Ireland
Failte First Family: the Obamas touch down in Ireland - Independent.ie:
"It is understood a total of 30 rooms in the five-star, 265-bedroom hotel, have been booked for the visit of Mrs Obama and her entou- rage."
"It is understood a total of 30 rooms in the five-star, 265-bedroom hotel, have been booked for the visit of Mrs Obama and her entou- rage."
MI Senate OKs changes to fireworks law
MI Senate OKs changes to fireworks law | WOOD TV8:
"Legislation approved 37-0 Wednesday by the Senate would let local governments regulate fireworks use during nighttime hours on national holidays and the day before and after.
The House is expected to send the bill to Gov. Rick Snyder in time for the July Fourth holiday. "
"Legislation approved 37-0 Wednesday by the Senate would let local governments regulate fireworks use during nighttime hours on national holidays and the day before and after.
The House is expected to send the bill to Gov. Rick Snyder in time for the July Fourth holiday. "
Detroit recovery plan threatens underpinnings of muni market
Detroit recovery plan threatens underpinnings of muni market | Crain's Detroit Business:
"Orr proposed a deal last week that included skipping a $39.7 million payment on pension-obligation debt.
The city is also set to default on unsecured unlimited-tax and limited-tax general-obligation bonds as it grapples with $17 billion in liabilities to avoid a record bankruptcy.
......It definitely sets a precedent, and there's definitely going to be a penalty going forward for the city and the state," said Dan Solender, director of munis at Lord Abbett & Co. in Jersey City, New Jersey.
The company oversees $19.5 billion of local debt.
Detroit, where officials struggle to provide public safety and even street lighting, joins California cities Stockton and San Bernardino in trying to stick bondholders with a loss.
With about 700,000 residents, it's the most-populous city in at least 35 years to default on debt."
"Orr proposed a deal last week that included skipping a $39.7 million payment on pension-obligation debt.
The city is also set to default on unsecured unlimited-tax and limited-tax general-obligation bonds as it grapples with $17 billion in liabilities to avoid a record bankruptcy.
......It definitely sets a precedent, and there's definitely going to be a penalty going forward for the city and the state," said Dan Solender, director of munis at Lord Abbett & Co. in Jersey City, New Jersey.
The company oversees $19.5 billion of local debt.
Detroit, where officials struggle to provide public safety and even street lighting, joins California cities Stockton and San Bernardino in trying to stick bondholders with a loss.
With about 700,000 residents, it's the most-populous city in at least 35 years to default on debt."
Heartwell expresses 'deep disappointment and anger' over Benteler's Grand Rapids plant-closing decision | MLive.com
Heartwell expresses 'deep disappointment and anger' over Benteler's Grand Rapids plant-closing decision | MLive.com:
"In Grand Rapids, the announcement was disappointing because the city helped Benteler to establish a Renaissance Zone that eliminated state and local property taxes for the factory for 10 years and then, handed out four tax abatements which halved the company’s taxes on new equipment.
Last October, the city approved two property tax abatements for $7.3 million worth of new equipment that was to be installed over the following two years.
Benteler requested a 12-year property tax abatement for a new “hot form line” and “laser cutting cell” and a five-year abatement for “weld cells” that will be used on its contracts with Ford and Nissan.
The most recent abatements have been partially granted, according to city Economic Development Director Kara Wood."
"In Grand Rapids, the announcement was disappointing because the city helped Benteler to establish a Renaissance Zone that eliminated state and local property taxes for the factory for 10 years and then, handed out four tax abatements which halved the company’s taxes on new equipment.
Last October, the city approved two property tax abatements for $7.3 million worth of new equipment that was to be installed over the following two years.
Benteler requested a 12-year property tax abatement for a new “hot form line” and “laser cutting cell” and a five-year abatement for “weld cells” that will be used on its contracts with Ford and Nissan.
The most recent abatements have been partially granted, according to city Economic Development Director Kara Wood."
Grand Rapids eyes plan to sell all tax-foreclosed properties to land bank before county auction
Grand Rapids eyes plan to sell all tax-foreclosed properties to land bank before county auction | MLive.com
"City officials are proposing that 163 tax-foreclosed properties be signed over to the Kent County Land Bank Authority rather go to a county auction where private investors can bid on them."
"City officials are proposing that 163 tax-foreclosed properties be signed over to the Kent County Land Bank Authority rather go to a county auction where private investors can bid on them."
How Michigan's budget impacts you
How Michigan's budget impacts you | Lansing State Journal | lansingstatejournal.com:
"If you have a 4-year-old, he or she might be eligible for publicly funded preschool under an effort to give 16,000 more disadvantaged kids the chance to be better prepared for K-12 schooling.
The income cutoff is roughly $39,000 for a parent with one child, $59,000 for a family of four — with slots first going to the poorest children."
"If you have a 4-year-old, he or she might be eligible for publicly funded preschool under an effort to give 16,000 more disadvantaged kids the chance to be better prepared for K-12 schooling.
The income cutoff is roughly $39,000 for a parent with one child, $59,000 for a family of four — with slots first going to the poorest children."
Sunday, June 16, 2013
Concepts and implications of altruism bias and pathological altruism
Concepts and implications of altruism bias and
pathological altruism
pathological altruism
Distrust of Government Is What It's All About
Distrust of Government Is What It's All About | RealClearPolitics:
"President Obama, whose deeply held faith in government is unwavering, unintentionally provided that moment of clarity last week. In attempting to dismiss concerns about the NSA disclosures, he said,
"If people can't trust not only the executive branch but also don't trust Congress and don't trust federal judges to make sure that we're abiding by the Constitution with due process and rule of law, then we're going to have some problems here."
We have a problem.
Just 30 percent of voters nationwide have that much trust in government officials when it comes to these surveillance efforts.
Only 24 percent now are confident that the federal government does the right thing most of the time."
"President Obama, whose deeply held faith in government is unwavering, unintentionally provided that moment of clarity last week. In attempting to dismiss concerns about the NSA disclosures, he said,
"If people can't trust not only the executive branch but also don't trust Congress and don't trust federal judges to make sure that we're abiding by the Constitution with due process and rule of law, then we're going to have some problems here."
We have a problem.
Just 30 percent of voters nationwide have that much trust in government officials when it comes to these surveillance efforts.
Only 24 percent now are confident that the federal government does the right thing most of the time."
Detroit Chapter 9 bankruptcy: Answers to key questions
Chapter 9 bankruptcy: Answers to key questions | Detroit Free Press | freep.com:
"Can union contracts be abandoned?
Yes. In fact, Chapter 9 bankruptcy makes it easier to slash labor deals than in Chapter 11 corporate bankruptcy.
Can city retirees lose their pensions?
Probably not completely. But there’s a chance that their monthly pension payments could be reduced. Orr is pursuing “significant” cuts to pensions. This will invite legal challenges.
Can city retirees lose health care insurance?
Yes. Or benefits could be reduced. Orr wants to shift retirees to the federal government’s new health care exchanges or to Medicare.
What happens to general obligation bondholders?
They can expect a fraction in return for their original investments. In most cases, bond insurers incur these losses."
"Can union contracts be abandoned?
Yes. In fact, Chapter 9 bankruptcy makes it easier to slash labor deals than in Chapter 11 corporate bankruptcy.
Can city retirees lose their pensions?
Probably not completely. But there’s a chance that their monthly pension payments could be reduced. Orr is pursuing “significant” cuts to pensions. This will invite legal challenges.
Can city retirees lose health care insurance?
Yes. Or benefits could be reduced. Orr wants to shift retirees to the federal government’s new health care exchanges or to Medicare.
What happens to general obligation bondholders?
They can expect a fraction in return for their original investments. In most cases, bond insurers incur these losses."
8th Grader Suspended Over NRA T-Shirt Could Get Jail Time
8th Grader Suspended Over NRA T-Shirt Could Get Jail Time"In April Breitbart News reported that West Virginia 8th grader Jared Marcum was suspended for refusing to take off an NRA t-shirt he wore to school.
And details now indicate the 8th grader could face a $500 fine and up to a year in jail for obstruction charges.
Fox News reports that on June 13 Marcum appeared before a judge "and was officially charged with obstructing an officer."
Moreover, the judge has allowed "the prosecution to move forward" with its case against Marcum.
Logan City Police officer James Adkins says that Marcum refused to quit talking when asked to remove the shirt.
The officer said this hindered his ability to do his job.
Marcum's father remains confident and stands by his son: "Me, I'm more of a fighter and so is Jared and eventually we're going to get through this.
I don't think it should have ever gone this far."
Marcum has to appear in court again on July 11 if his attorney can't get the charges dismissed before then. "
Superintendent: Muskegon school staff could face 7 percent pay cut, 70 job losses
Superintendent: Muskegon school staff could face 7 percent pay cut, 70 job losses | MLive.com:
"The district recently informed the state it will have a negative budget balance at the end of this year. Originally estimated at $2.6 million, the deficit at the end of this fiscal year is now expected to be between $2 million and $2.1 million, according to Superintendent Jon Felske."
"The district recently informed the state it will have a negative budget balance at the end of this year. Originally estimated at $2.6 million, the deficit at the end of this fiscal year is now expected to be between $2 million and $2.1 million, according to Superintendent Jon Felske."
Buena Vista Township Clerk Gloria Platko attends first board meeting since racial slur recording was released, says her life was destroyed
Buena Vista Township Clerk Gloria Platko attends first board meeting since racial slur recording was released, says her life was destroyed | MLive.com:
"Platko, who has been asked by numerous groups and citizens to step down from her position, said after the meeting,
”I’m here. That’s what the citizens put me here for. I’m not resigning and I’m not backing down.”
"Platko, who has been asked by numerous groups and citizens to step down from her position, said after the meeting,
”I’m here. That’s what the citizens put me here for. I’m not resigning and I’m not backing down.”
Emergency Manager: Detroit to Default on $2.5B Debt
Emergency Manager: Detroit to Default on $2.5B Debt:
"Kevyn Orr said Friday that Detroit is asking creditors to take about 10 cents on the dollar of what they're owed. Underfunded pension claims will get less."
"Kevyn Orr said Friday that Detroit is asking creditors to take about 10 cents on the dollar of what they're owed. Underfunded pension claims will get less."
White House Eyes $5.5 Billion Tax Hike on Airline Industry
White House Eyes $5.5 Billion Tax Hike on Airline Industry | Heartlander Magazine:
"The Obama administration is pushing for new taxes on the airline industry that would amount to an estimated hike of $14 per flight.
But that’s only a drop in the bucket of what the White House proposes, said one industry insider.
“Altogether, the White House budget proposal would increase taxes on airline customers and airlines by a whopping 29 percent, adding another $5.5 billion to their $19 billion annual tax burden,” said Vaughn Jennings, managing director for government and regulatory communications for Airlines for America."
"The Obama administration is pushing for new taxes on the airline industry that would amount to an estimated hike of $14 per flight.
But that’s only a drop in the bucket of what the White House proposes, said one industry insider.
“Altogether, the White House budget proposal would increase taxes on airline customers and airlines by a whopping 29 percent, adding another $5.5 billion to their $19 billion annual tax burden,” said Vaughn Jennings, managing director for government and regulatory communications for Airlines for America."
Chrysler completely freezes pension plan for salaried employees
Chrysler completely freezes pension plan for salaried employees | Crain's Detroit Business:
"Chrysler described the pension freeze as “consistent with industry trends.”
Last year, for example, General Motors Co. announced a complete freeze of pension plans offered to salaried employees.
Chrysler’s pension plans are significantly underfunded.
That includes those covering hourly employees, who are not affected by the freeze.
At the end of 2012, the automaker’s pension plans had $26 billion in assets and $34.8 billion in liabilities, according to the company’s 2012 Form 10-K report."
"Chrysler described the pension freeze as “consistent with industry trends.”
Last year, for example, General Motors Co. announced a complete freeze of pension plans offered to salaried employees.
Chrysler’s pension plans are significantly underfunded.
That includes those covering hourly employees, who are not affected by the freeze.
At the end of 2012, the automaker’s pension plans had $26 billion in assets and $34.8 billion in liabilities, according to the company’s 2012 Form 10-K report."
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