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Last Night’s Action: At Least The Nets Won
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Extra, Extra: When It Rains It Pours
photograph by the amazing tom andrews via the laist featured photos consolidate on flickr
Terence Corcoran on Barack’s big ideas for restoring confidence
When US President Barack Obama announced a Cialis $500,000 limit on high-level executive pay at firms receiving government assistance, Western Standard associate editor Terrence Watson didn’t think it sounded like such a wise plan:
Can you say “unintended consequences”? Chasing skilled executives away from companies that are already in trouble seems like a GREAT idea.
Terence Corcoran, editor of the Financial Post, agrees:
A Washington-led campaign, spearheaded by the President himself, to impose populist controls on the compensation of executives at all public companies, not just bankers, is about to take hold. Canadian bankers are already covering their tracks, with self-inflicted compensation reductions. “It’s only the beginning of a long-term effort Compra Viagra,” Mr. Obama said.
Great populist strategy, but like all government price controls, the $500,000 Obama compensation plan for bankers is guaranteed to produce a rash of destructive consequences.
If the big idea in executive compensation is that the incentives were all wrong, what exactly is the incentive impact of forcing executives to work for less than they can somewhere else? The greatest risk is that the very banks the government is trying to save will face an exodus of talent just when they need talent most.
University of Chicago compensation expert Steven Kaplan, in an interview yesterday, called the plan “ill-advised” and “very dangerous.” He predicts a “mass exodus” over time as employees leave in search of higher cash compensation elsewhere. …
At AIG, the insurance company, there is evidence that executives at healthy branches of the company, now under de facto government control, are fleeing for other, healthy insurance firms. “You will see over time a huge exodus from the companies that take money from the government.”
At banks such as Bank of America, executives of healthy parts of the company will have many options. “Strange as it sounds,” said Prof. Kaplan, “$500,000 is way below what they can get elsewhere.” Another complication is the internal corporate inequities that will emerge if the top 30 executives are frozen at $500,000, while others in lower levels earn more. …
No wonder investors have yet to regain confidence in the U.S. financial system and the stock market.
Barney Frank, the influential chairman of the House Financial Services Committee, said yesterday that “Congress will consider extending the $500,000 salary cap to executives of all financial institutions and perhaps to all U.S. companies.”
If this salary cap is really “only the beginning,” and Obama will continue the bailouts and seriously consider applying these sorts of major structural changes to the entire economy, the time has come to think seriously about what economist and historian Robert Higgs calls “regime uncertainty,” which “pertains above all to a pervasive uncertainty about the property-rights regime ? about what private owners can reliably expect the government to do in its actions that affect private owners’ ability to control the use of their property, to reap the income it yields, and to transfer it to others on voluntarily acceptable terms.”
Because, as Higgs meticulously documents, businessmen and investors in the 1930s didn’t know what sorts of significant changes might be sprung upon them at any time — and because those changes could undermine the free-enterprise-based economic system and threaten the safety of their capital, investments predictably dried up, resulting in a lengthening and deepening of the Great Depression.
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‘EVE Online’ Betrayal Costs Trillions In Fake Money
EVE Online had its biggest mutiny in history. ShackNews has reported:
“in what may be the most pregnant case of in-play espionage in history, one of the largest guild of players in ccp’s spaceship mmo eve online, join of brothers (bob), was reservation disbanded today when a bob commandant defected to the somethingawful-derived goonfleet. in a parable that one eve online could engender, goonfleet intelligence agency (gsa) leader the mittani and his league of spies managed to ‘encourage’ a band of brothers director to turn coat, transferring trillions of bob’s in-game isk currency to the goons before nullifying bob’s control over all of its patch.”
This all sounds really impressive and I understand that it’s a huge deal for the EVE Online community. Admittedly, my feelings on the matter are of the “so?” variety. To me, it seems like a guy was being a jerk, ditched his friends, and ruined the game for his “pals”.
What do you guys think of the incident? Is it the major gaming catastrophe that some are making it out to be? Or was the BoB traitor just a tool that screwed over his friends?
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Gypsy Eyes Records Calls it Quits
it’s a unfortunate day for the d.c. music scene. homegrown designation gypsy eyes records sent an email to its artists thursday morning announcing they are closing up shop for good. hello all,
We are writing this to let you know that after much thought and exploration of all available options, we have decided that it is time to shutter Gypsy Eyes. It was a very hard decision, but our only option at this time.
If any of you want, we have copies of your albums that we will give you back, you are, effective immediately, free from any contractual obligations to Gypsy Eyes. The albums are currently at Nick’s studio, please let us know if you want the product back and when you can come and get them. If you do not want them, please let us know that as well.
We are really sorry this didn’t work out. You guys are all incredibly talented, we love the music, and we hope this has not been a bad experience for you.
Any questions, we are free to talk.
Thanks for everything.
Kalani, Josh, NickGypsy Eyes was founded in 2006 by friends Kalani Tifford, Josh Read and Nick Pimentel achat levitra, with the stated goal of filling the “void between pop radio and DIY indie music.” Since then the label had provided a home to a large cast of local musicians, including John Bustine, Brandon Butler, Vandaveer, Shortstack, Mikal Evans and The cialis online Portugal Apes. The City Paper’s Aaron Leitko recently penned a cover story focused on the label and its struggle to make money. In light of the news that they’ve folded, this quote from Tifford from that story is pretty heartbreaking: “The point is to give people a career doing music—doing what they love,” Tifford says. “I believe that we’re on that path, and it’s only a matter of time.”
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KP makes headlines again
No question what the talking point is at the end of the first day of the series - it’s KP again!
No doubt there will be the same split in opinion we witnessed when he tried to hit Paul Harris for six at Edgbaston to reach his hundred, and hit a catch down long-on’s throat. On that occasion former players were fiercely critical while a healthy number of cricket fans were happy to rejoice in his innings.
Well, it has happened again and although Pietersen tried to shrug it off by saying that it is the way he plays, the thunderous look on his face as he stormed off the field before the catch had even been taken said it all.
The fact is that he has now missed out on two Test centuries which, with just a little circumspection, he would have achieved and that must hurt.
The “that’s the way I play” line didn’t really hold water in this case either because until that over, he had been the model of circumspection and discipline. Even the great Viv Richards - as aggressive a batsman as there ever has been - was lost for words.
If that shot lacked tactical nous, Chris Gayle’s performance in the field in the final session was utterly bizarre.
Having dominated much of the day with Benn, the left-arm spinner, bowling 33 overs on the trot, he then set no fewer than three men on the hook for Andrew Flintoff, and two short mid-wickets!
It really was impossible to work out what the West Indian captain was thinking, and rather than battling under pressure, Flintoff - who had also been the model of patience - and Prior were able to negotiate the final half an hour with ease.
The first instance of a player referral in a match involving England occurred during the afternoon when Gayle asked for an lbw decision against Paul Collingwood to be looked at by the third umpire.
The whole process took two-and-a-half minutes when, in fact, it should have taken a lot less.
The first replay down the pitch showed us that the ball had struck Collingwood outside the off-stump - although not by much - but for some reason Darryl Harper took a long time relaying the information to Rudi Koertzen in the middle. Hopefully more practice will speed everything up a bit.
It is difficult to gauge what a good score is on this pitch.
Very slow, the amount of buy cialis online early spin has taken everyone by surprise to the extent that both teams might regret not playing a second spinner.
Certainly a large first innings would give cheap levitra England a huge advantage, and they would consider 350 to be a good start.
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Bruce Springsteen to perform at Bonnaroo
usa today’s cindy clark here with some bonnaroo story: bruce springsteen and the e street band, phish, the beastie boys and nine inch nails will perform at the bonnaroo music and arts festival this year, june 11-14. the manchester, tenn.-based…
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Obama breaks promise
Book Reviews: The House of Wisdom; Science & Islam
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Superbowl halftime entertainment
Jennifer Hudson sings at Super Bowl
Jennifer hudson star spangled banner
Jennifer Hudson sings the national anthem at today’s Super Bowl in Tampa. This is the first public appearance for the 2006 Oscar winner (”Dreamgirls”) since her mother, Darnell Donerson, brother Jason Hudson, and nephew Julian King were murdered in their Chicago home Oct. 28. Expect Jennifer Hudson’s performance to equal the emotional one delivered by Whitney Houston back in 1991 when the Super Bowl was played (also in Tampa) against the backdrop of the start of the first Gulf War. Houston’s performance of “The Star Spangled Banner” was released as a single and reached the top 20 on Billboard.
Another Oscar winner ? Bruce Springsteen ? will be performing during the half-time show today. Bruce Springsteen won his Oscar in 1993 for the song “Streets of Philadelphia” from the film “Philadelphia.” He was nominated two years later for the title song of “Dead Man Walking” but lost to “Colors of the Wind” from “Pocahontas.” Bruce Springsteen was snubbed this year for his Golden Globe-winning title track for “The Wrestler.”
Though the Oscars are referred to as the Super Bowl of entertainment, the real one has a surprising (and long-running) connection to the awards fest. Jennifer Hudson will not be the first Oscar winner to sing at the Super Bowl. Back in 1999, Cher ? the 1987 best actress winner for “Moonstruck” ? performed the national anthem. The following year, Phil Collins appeared in the half-time show just weeks before winning an Oscar for the song “You’ll Be in My Heart” from “Tarzan.” In 2005, Paul McCartney performed at the half-time show. He, along with the other three Beatles ? George Harrison, John Lennon and Ringo Starr ? won the 1970 original song score Oscar for “Let It Be.” And Prince, the 1984 song score winner for “Purple Rain,” performed in the 2007 half-time show acheter cialis.
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KB Chats: Canucks Practice Scrap, Celebrity Hockey Advice and Edge’s New Ride
It’s Friday and that means we’re talking sports on messenger.
Jason says:so, this mitchell-raymond dust-up in practice is getting quite a bit of attentionMike says:ya, you gotta love mitchell’s response to the losing streak: beat up the smallest player on the ice Jason says:willie also knocked mason’s cafeteria tray over at lunchMike says:they found wellwood two hours later…he was hiding under some risers in the gymJason says:interesting quote from raymond about the slump: “I’ve never gone through anything like this in my hockey career”Mike says:not sure that says much coming from a 24-year-oldJason says:other things raymond has never been through in his hockey career: 100 games in the nhlMike says:i like how shane o’brien threw himself into the mix as wellJason says:i know…even in practice he’s a penalty magnetMike says:roberto luongo was quoted as saying he “loved” the altercationJason says:“dance, puppets,” he added, rubbing his hands together
Mike says:hey, how do you know you’re mired in a long losing streak?Jason says:i’ll bite…when?Mike says:when one of the papers gets so desperate for new material that they ask local celebrities/politicians for their advice on how to fix the teamJason says:ya, the sun must’ve got richard’s answering machine…next logical call was to singer/songwriter tal bachmanMike says:his advice includes “live off your father’s success”Jason says:actually, he thinks that “fixing the team in the short term will require, at the least, benching [Mats] Sundin”Mike says:granted, tal bachman was the guy responsible for thisJason says:awful song…i hope BTO kicked randy out of the band when they heard that songMike says:“look…your kid is embarrassing”
Mike says:nice to see michael buble took time away from the coconut lounge to chime in as wellJason says:just in case the middle-aged housewives of vancouver were concerned about the canucksMike says:i heard they had to clean up his answer a bit…at first it was just the lyrics to “quando quando”Jason says:he also referred to alain vigneault as a “groovy cat”Mike says:i dunno, maybe he’s right…maybe the canucks just need a little more “cha cha cha”Jason says:moving right along, liberal mla mike de jong doesn’t like what he sees from the vancouver power play: “I think they’ve got Carole James coaching the special teams”Mike says:the power play is frumpyJason says:that has to be the low point for ryan walter…being compared to carole jamesMike says:carole james gets her pantsuits at mooresJason says:ya, the hungry spirit is tired of the rich getting richer while ordinary british columbians struggle to pay the bills
Mike says:the best part is, later on, they actually get carole james’ thoughtsJason says:here’s her advice: “I think they should give them some time and I think they’ll turn it around. They’ve got a few months to do that. “Mike says:carole james: not quite grasping the nhl playoff race…or maybe she just thinks it’s unfair to ordinary nhl teamsJason says:she should’ve gone with her standard vitriol….refer to mike gillis as “mr. general manager” and ask why he “continually keeps vancouver canucks fans in the dark”Mike says: bruce allen’s advice: “They have totally lost their confidence. They are playing scared. Fire Alain Vigneault immediately.”Jason says:“hire bob rock!”Jason says:interesting take from murray wrightman, manager of operations, city of vancouver: “I’d have a lot of locker room talks with them and maybe do something totally different for a day and a half”Mike says:“for example, why not volunteer to …
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Pakistan cops hold 3 allegedly trained by India spy agency
police officers pronounce they have arrested three men allegedly trained by india’s case power to carry out attacks inside pakistan.
Mars Rover Team Diagnosing Unexpected Behavior
pasadena ca (jpl) jan 29, 2009 - the team operating nasa’s mars research vagabond spirit plans diagnostic tests this week after spirit did not report some of its weekend activities, including a request to determine its orientation after an incomplete make.
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