Wednesday, July 8, 2009

Cops threaten to boycott Peyton family business

"How a police boycott of Gate would hurt the business is uncertain. A veritable empire built by the mayor’s father, Herb Peyton, in the 1960s, Gate has 225 locations in six Southeastern states."

"The company also has a stake in $21 million worth of contracts to fuel the city motor pool, including police cruisers, which officers take home after work."

Reading The Bills

"Earmarks are usually listed in what's called the "report" which accompanies the bill, where the legislative intentions of the Appropriations Committee are spelled out. They are just recommendations, which some argue don't even have the force of law."

"If you think it is time consuming to read a bill, it is much more time consuming to read the report, which can be hundreds and hundreds of pages of explanation."

Green nonsense

"Global temperatures have declined -- extending the current downtrend to 11 years with a particularly rapid decline in 2007-2008," said a draft report written in March by an expert at the Environmental Protection Agency."

Monday, July 6, 2009

Quote of the Day

"We cannot retaliate on indifference by asserting truth, only by casting doubt." (Piscali's Island, 192).

Herr Gesing: "How have you arrived at this confident knowledge of what is lies and what is truth? I envy it." (Piscali's Island, 70).

Sunday, July 5, 2009

Highway deaths at lowest level on record

"The National Highway Traffic Safety Administration said Thursday the number of motorists killed from January through March 2009 declined by 9 percent, to 7,689 motorists, from the same period a year ago. Motor vehicle fatalities continued to fall to levels not seen since records began being kept in 1961."

"An estimated 37,261 motorists died nationwide in 2008, the lowest number since 1961. If this year's trends continue, fewer than 31,000 people will die in 2009. However, motorcycle deaths have increased for the 11th straight year in a row and account for 14 percent of all highway fatalities."

Mississippi's Still Fattest but Alabama Closing In

"In 31 states, more than one in four adults are obese, says a new report from the Trust for America's Health and the Robert Wood Johnson Foundation. And obesity rates among adults rose in 23 states over the past year, and no state experienced a significant decline."

"The report provides one of the first in-depth looks at obese boomers, and its implications are sobering. This first wave of aging boomers will mean a jump of obese Medicare patients that ranges from 5.2 percent in New York to a high of 16.3 percent in Alabama, the report concluded. In Alabama, nearly 39 percent of the oldest boomers are obese."

"Health economists once made the harsh financial calculation that the obese would save money by dying sooner. But more recent research instead suggests that better treatments are keeping them alive nearly as long — but they're much sicker for longer, requiring such costly interventions as knee replacements and diabetes care and dialysis. Medicare spends anywhere from $1,400 to $6,000 more annually on health care for an obese senior than for the non-obese, Levi said."

Sunday, June 28, 2009

Annualized GDP falls 5.5 percent in Q1, corporate profits increase

"The U.S. economy decreased at an annualized rate of 5.5 percent in the first quarter after a 6.3 percent decline in the last quarter of 2008."

"The Bureau of Economic Analysis, which released first quarter gross domestic product figures Thursday, said the improved performance is due to a 1.4 percent increase in real personal consumption."

"The decline in GDP, which measures the output of goods and services produced in the U.S., coincided with a rise in corporate profits, which increased $48.1 billion in the first quarter following a $250.3 billion decrease in the fourth quarter of 2008."

US sending weapons to Somalia

"The US has revealed it is sending weapons and cash to the Somali government to aid its fight against al Shabab."

"The US state department said on Thursday it was "concerned" about whether the government of Sharif Ahmed could be overwhelmed by fighters from the group."

"Washington was hoping to help "repel the onslaught of extremist forces which are intent on ... spoiling efforts to bring peace and stability to Somalia," Ian Kelly, a state department spokesman, said."

EPA: Pollution Cancer Risk Is Falling

"Thirty-six out of 1 million U.S. residents will develop cancer due to breathing toxic air pollution, according to estimates by the Environmental Protection Agency (EPA)."

"The estimate is based on 2002 levels of air pollution from gasoline cars, factories, and other sources. It represents a drop from a 2006 estimate, when the EPA predicted an average of 42 cancer cases per million people based on 1999 air pollution levels."

Peyton: Taxpayers will see need for tax hikes

"For an extra $115 next year, Mayor John Peyton says, the average Jacksonville homeowner would save things like fire stations, libraries, children’s programs and recycling."

"The mayor made his plan for a 1.2 mill property tax increase official Thursday."

"Peyton called his proposed 14 percent property tax rate increase a “marginal revenue play” that he thinks taxpayers will ultimately accept for the good of the city. Jacksonville, he said, has spent years under-investing in everything from parks to police."

“We have ordered up government on the cheap,” he said. “My concern is with further cuts, we make our city not only a lesser place to live but un-competitive as we try to grow this economy.”

"His “Fix it Now” plan also depends on $40 million in spending cuts, most of them coming from freezing wages, furloughing employees, eliminating 100 vacant positions and requiring all workers to contribute to their health-care plan."

"Council President-elect Richard Clark has been staunchly against a tax rate increase, saying the city needed to focus on cutting expenses. He could be persuaded, though, depending on what constituents say during community meetings he’s planning to hold in July."

"Of the $40 million in cuts — which are coming regardless of a tax increase — city employees are hit hardest:

- A salary freeze is expected to save $8 million.
- A 5 percent across-the-board departmental budget cut would save $8.5 million.
- Eliminating 100 vacant positions would free up $5 million in salary and benefit expenses.
- Targeting $10 million in savings from furloughs and a renegotiated union worker health plan."

Tuesday, June 23, 2009

Obama condemns 'unjust' Iran

"Obama said the international community was "appalled and outraged" by what he said were the "threats, beatings, and imprisonments" of demonstrators."

"I have made it clear that the United States respects the sovereignty of the Islamic Republic of Iran, and is not interfering in Iran's affairs,'' he said during a news conference at the White House on Tuesday."

"But we must also bear witness to the courage and dignity of the Iranian people, and to a remarkable opening within Iranian society. And we deplore violence against innocent civilians anywhere that it takes place.''

"At least 19 people have been killed in post-election clashes across Iran between protesters and riot police and paramilitaries."

Number of mass layoffs in U.S. ties record

"The number of mass layoffs by U.S. employers rose last month to tie a record set in March, according to government data released on Tuesday that suggested the labor market has yet to stabilize."

"The Labor Department said the number of mass layoff actions -- defined as job cuts involving at least 50 people from a single employer -- increased to 2,933 in May from 2,712 in April, resulting in the loss of 312,880 jobs."

"It was the largest loss of jobs connected to mass layoffs on records dating to 1995."

"The economy has lost six million jobs since the recession began in December 2007. Economists polled by Reuters expect the economy shed a further 368,000 jobs in June."

Waiting isn't ER patients' top issue

"The study was done by Press Ganey, a consultant for more than 10,000 health care facilities (more than 40% of the USA's hospitals). For the fifth straight year, customer satisfaction showed a slight increase, to 83.7% from 83.1% in 2007."

"The bad news in the report: The average time spent for each visit to an emergency room is 4 hours and 3 minutes, a two-minute decline from 2007. Lengthy stays also were highlighted in April by the Government Accountability Office, which found some waits for emergent patients — those who should see a doctor in one to 14 minutes — were more than twice as long as they should be."

Florida’s unemployment rate hits 10.2%

"The seasonally adjusted rate for May is 10.2 percent. That translates to 943,000 unemployed out of a labor force of 9.2 million, according to the Florida Agency for Workforce Innovation."

"Nationwide, the unemployment rate is 9.4 percent."

"The state’s unemployment rate is up 4.4 percentage points from the same period a year ago. The last time the rate was higher was October 1975, when it was 11 percent."

"The unemployment rate in the Jacksonville metropolitan statistical area was 9.7 percent, up from 9.3 percent in April and 5.2 percent a year ago. The rate in Duval County was 10.2 percent, up from 9.8 percent in April and 5.4 percent a year earlier."

Thursday, June 18, 2009

Crist inks Fla. drug tracking, double-dipping laws

"Florida will set up an electronic tracking system for prescriptions by the end of 2010 in a bid to crack down on "doctor shopping" by addicts and drug dealers under a bill signed into law Thursday by Gov. Charlie Crist."

"Crist also signed a new law making it more difficult for elected officials and high-ranking public employees to "double dip" by collecting a salary and a pension at the same time. Another measure he signed would give law enforcement officers suspected of wrongdoing the opportunity to review evidence and witness statements before they are questioned."

"Pharmacies will be required to tell the state within 15 days who received a drug and what was prescribed. Pain clinics also will be required to register with the state and submit to annual inspections."

"The double-dipping measure (SB 479) will require officials to stay in retirement for six months, instead of only one under existing law, before going back to work in the same or another sate or local government job."

First Coast Schools Making the Grade

"Duval County Schools got a lot of good news today when the state grades were released. Compared to last year, more schools got an A or B, and fewer got a D or F."

"There are 148 public schools in the county, and 101 of them scored A or B, more than two-thirds. Last year, the number was 85."

"In 2008, 26 schools scored a D or F; this year, the number is down to 19."

Florida tent city offers hope to homeless

"Pinellas Hope was welcomed by St. Petersburg. Mayor Rick Baker said the city contributed $250,000 to the camp last year and city crews helped clear the land.

"Lopez said it costs $2.6 million a year to run the camp with about half coming from donations of food and other items."

"Florida, where unemployment has soared as the recession put out of work thousands of people employed on construction sites during the housing boom, has nearly 50,000 homeless, according to the alliance. Nearly 6,500 of those are in the Tampa area."

Was Iran's election rigged? Here's what is known so far.

"In the biggest presidential election turnout in the history of the Islamic Republic, some 85 percent of Iran's electorate went to the polls last Friday and gave incumbent Mahmoud Ahmadinejad a landslide victory."

"Or did they?"

"Defeated challenger Mir Hossein Mousavi claims that the official result of 62.6 percent for Mr. Ahmadinejad and just 33.7 percent for him was a "dangerous charade," and has called for a new election. His newspaper, Kalameh Sabz, reported that more than 10 million votes were missing personal identification numbers that made the votes untraceable. He also says some polling stations closed prematurely, preventing some voters from casting ballots. "

"Results from 39.2 million handwritten ballots came much more swiftly than in previous votes, emerging within hours. Detailed election data typically released has not been made public."

"Iran's Supreme Leader sanctioned Ahmadinejad's victory after a day, instead of the customary three. "

"Earlier polls appeared to indicate a stronger showing for Ahmadinejad, who – though under fire for poor economic performance, a surge of inflation, and unemployment – had made 60 visits to Iran's provinces handing out cash and development projects."

"The final "official" figures, however, gave Ahmadinejad 24.5 million votes, and Mousavi 13.2 million. That result was a shock for many Iranians and analysts."


Cameras a no-no at Duval schools

"Duval County public school students won't be able to use still or video cameras on campus next school year without permission under a new Code of Student Conduct approved unanimously by the School Board. "

"Under the new policy, students can't use cameras on school property or at a school-sponsored event until they have permission from a school official or are using it as a part of a class assignment under the supervision of a teacher. "

"Also, students will be able to use cameras, so long as the use is not disruptive or illegal, after school hours at events on school grounds that are open to the general public."

DCF: Underage drinking costs Florida $3B a year

"A state agency says traffic accidents, crimes and medical costs incurred by underage drinkers are costing Florida more than $3 billion a year."

"A study released Tuesday by the Florida Department of Children and Families shows violent crime committed by minors while drinking costs about $316 million. Alcohol-related traffic crashes by minors costs about $642.7 million."

"According to the study, the number of Florida minors who reported drinking in the past 30 days was higher than the national average at 37 percent, compared to 29 percent."

Sunday, June 14, 2009

Paying for Health Care Reform

"The President is committed to undertaking reform that is completely paid for and deficit neutral over the next decade. That is why he put forward in his FY 2010 Budget an historic $635 billion down payment on reform. Roughly half of this amount comes from revenue proposals, including limiting the value of itemized deductions for families making over a quarter-million dollars a year to the rates they were during the Reagan years, and about half comes from savings from Medicare and Medicaid."

"Since making this proposal, the Administration has worked with Congress on other ways to offset fully the cost of health care reform through additional savings and revenues. To that end, the Administration is detailing today savings proposals that will contribute another $313 billion over 10 years to paying for health care reform, bringing the total scoreable offsets put forward by the Administration to nearly $950 billion over 10 years. Together, this would extend the solvency of Medicare’s Hospital Insurance Trust Fund by seven years to about 2024, and reduce beneficiary premiums for physician and outpatient services by about $43 billion over the next 10 years. The Administration hopes these suggestions will help Congress as it continues to draft legislation, and remains open to any other proposals to pay for reform that Congress may put forward."

Senators held stock in bailed-out banks

"Senators who oversee the $700 billion Wall Street rescue package held stocks in many of the banks bailed out towards the end of last year, according to financial disclosure reports released Friday."

"According to the reports detailing senators’ finances in 2008, nearly half of the members of the Senate Banking Committee had holdings in financial institutions that have taken funds from the Troubled Asset Relief Program (TARP). The panel has jurisdiction over the bailout fund and other relief efforts directed by federal regulators to save the nation’s financial system."

"For example, Sen. Tim Johnson (D-S.D.), a Banking panel member, has assets in several banks that have taken bailout funds. Along with Goldman Sachs, the senator has several assets in Bank of America funds, worth at least $115,00. Bank of America has received $45 billion in government funds. "

"Another Democrat invested in bailed-out institutions is Sen. Chuck Schumer (N.Y.). Schumer has assets valued between $15,001 and $50,000 in Morgan Stanley and $1,001 to $15,000 in Citibank, according to his financial disclosure report. Morgan Stanley received $10 billion in TARP money while Citigroup was given $25 billion from the program. Schumer's assets in the two banks were savings accounts, however, not stock."

Household Wealth in U.S. Decreased by $1.3 Trillion (Update1)

"U.S. household wealth fell in the first quarter by $1.3 trillion, extending the biggest slump on record, as home and stock prices dropped."

"Net worth for households and non-profit groups decreased to $50.4 trillion, the lowest level since 2004, from $51.7 trillion in the fourth quarter, according to the Federal Reserve’s Flow of Funds report today. The government began keeping quarterly records in 1952."

Thursday, June 11, 2009

Survey: Venture capitalists shift strategy, go global

"More than half of the venture capitalists surveyed in the 2009 Global Venture Capital Survey conducted by Deloitte Touche Tohmatsu and the National Venture Capital Association said they would invest in fewer companies in the near future, while 13 percent of the more than 700 worldwide respondents said they would increase the number of companies in which they plan to invest."

"And venture capitalists agree that investments are more likely to increase in countries outside of the U.S. than domestically in the next three years. Half of the venture capitalists surveyed said investment will increase in Asia (excluding India); 43 percent named India; 36 percent selected South America; 25 percent said Europe and the United Kingdom; and just 17 percent said investment would increase in North America."

"Fifty-two percent of all venture capitalists surveyed said they already invest outside their home countries."

JCCI Study: Jacksonville's Finances 'In Crisis'

"The study reports the city has debt obligations of almost $3 billion dollars and the problems have been made worse by the national recession."

"The study found the city isn't setting aside enough money every year for maintenance and construction and is not able to adequately take care of its assets."

"And the biggest threat to the city's financial health is the underfunded pension plans owed to fire and police and other city workers. The city now owes the funds $1 billion."

Taxpayers Have $80.3B Invested in Detroit

"The taxpayers’ investment in the U.S. auto industry rose to $80.3 billion, after the U.S. Treasury provided a new $30.1 billion bankruptcy loan to General Motors (GMGMQ: undefined, undefined, undefined%) on Wednesday, two days after GM filed for bankruptcy, a new Treasury report said."

"The funding amounts, through 15 transactions since December, total more than 10% of the $700 billion in bailout money Congress approved for the Troubled Asset Relief Program, or TARP, in October, when it was expected to help stabilize mainly banks."

Monday, June 8, 2009

Soak the Rich, Lose the Rich

"Updating some research from Richard Vedder of Ohio University, we found that from 1998 to 2007, more than 1,100 people every day including Sundays and holidays moved from the nine highest income-tax states such as California, New Jersey, New York and Ohio and relocated mostly to the nine tax-haven states with no income tax, including Florida, Nevada, New Hampshire and Texas. We also found that over these same years the no-income tax states created 89% more jobs and had 32% faster personal income growth than their high-tax counterparts."

"They're wrong, and New Hampshire is our favorite illustration. The Live Free or Die State has no income or sales tax, yet it has high-quality schools and excellent public services. Students in New Hampshire public schools achieve the fourth-highest test scores in the nation -- even though the state spends about $1,000 a year less per resident on state and local government than the average state and, incredibly, $5,000 less per person than New York. And on the other side of the ledger, California in 2007 had the highest-paid classroom teachers in the nation, and yet the Golden State had the second-lowest test scores."

Wednesday, June 3, 2009

FEMA deadline burdens Katrina victims

"Nearly 4,000 Hurricane Katrina victims are being evicted from FEMA trailers this weekend."

"If you do not immediately surrender possession and move out of the unit by May 30, 2009, FEMA will initiate legal action to gain possession of the housing unit," reads the May 1 note sent to thousands of residents living in the Cavalier model trailers along the Gulf Coast."

"However, after FEMA was contacted by The Washington Times with questions about the evictions, the agency released a statement Friday that suggested not everyone will be put out on the street."

Geithner tells China its dollar assets are safe

"China is the biggest foreign owner of U.S. Treasury bonds. U.S. data shows that it held $768 billion in Treasuries as of March, but some analysts believe China's total U.S. dollar-denominated investments could be twice as high."

Lawmakers Bill Taxpayers For TVs, Cameras, Lexus

"Florida Rep. Alcee Hastings spent $24,730 in taxpayer money last year to lease a 2008 luxury Lexus hybrid sedan. Ohio Rep. Michael Turner expensed a $1,435 digital camera. Eni Faleomavaega, the House delegate from American Samoa, bought two 46-inch Sony TVs."

"The expenditures were legal, properly accounted for and drawn from allowances the U.S. government grants to lawmakers. Equipment purchased with office expense accounts must be returned to the House or the federal General Services Administration when a lawmaker leaves office."

"The records show that some lawmakers spent heavily in the final months of the year to draw down allowances before the end of December -- a time when U.S. households were paring their budgets and lawmakers were criticizing Detroit auto executives for taking private aircraft to Washington to plead their case for taxpayer funding."

"House members get a government expense allowance of $1.3 million to $1.9 million a year. Senators get $2.9 million to $4.5 million. The disparity is based on several factors, with lawmakers whose home states are far from Washington, for example, typically receiving more to cover their higher travel expenses."

"If lawmakers don't seek reimbursement for all of their allowance money for the year, the remainder doesn't roll over to the next year, but stays with the Treasury. The review showed that the increased year-end spending went not only toward equipment but also to fund year-end "bonuses" to aides. The average House aide earned 17% more in the fourth quarter of the year, when the bonuses were paid, than in previous quarters, according to an earlier Journal analysis. Payments ranged from a few hundred dollars to $14,000."

CRIME IS DOWN

"For the second year in row, the number of violent crimes declined across the country—a total of 2.5 percent during 2008 compared to the previous year—according to our just-released Preliminary Annual Uniform Crime Report."

"And more good news: the number of property crimes decreased nationally as well—1.6 percent—over 2007 levels. In fact, property crime has fallen every year since 2003."
  • "All four of the violent crime offense categories declined nationwide: murder and nonnegligent manslaughter (down 4.4 percent), aggravated assault (down 3.2 percent), forcible rape (down 2.2 percent), and robbery (down 1.1 percent).
  • While violent crimes like murder, forcible rape, and robberies in cities with one million or more residents decreased, cities with less than 10,000 residents reported increases in those same categories (murder up 5.5 percent, forcible rape up 1.4 percent, robbery up 3.9 percent).
  • Nationwide, burglaries were the only property crime to show an increase (up 1.3 percent), while thefts decreased (down 0.6 percent) as did motor vehicle thefts (down a whopping 13.1 percent!).
  • Arson offenses, tracked separately from other property crimes, declined in all four regions of the country—Northeast, South, Midwest, and West. The largest decrease was in the West (down 5.9 percent)."

Thursday, May 28, 2009

Teach For America Applications Soar

"When school starts next fall, Teach for America will send an unprecedented number of college graduates to teach in poor communities across the country; but not as many as the group would like. "

"Teach for America this year chose 4,100 recruits from more than 35,000 applications, an increase over last year's class of 3,700 recruits. While the group has never accepted every applicant, this was the first time it had to turn down people who met all its rigorous criteria."

"The constraint is the economy. Tighter budgets have forced some school districts to cut back on hiring, though overall 500 more spots for Teach for America are available this year. Also, those who give to nonprofits like Teach for America are either holding the line or cutting back on their charitable giving, which pays for training and professional development for the recruits. "

Report Concludes Uninsured Are Costly for All

"Health insurance premiums for an average family are $1,000 a year higher because of costs of health care for the uninsured, a new report finds."

"And private coverage for the average individual costs an extra $370 a year because of the cost-shifting, which happens when someone without medical insurance gets care at an emergency room or elsewhere and then doesn't pay."

"The report found that, in 2008, uninsured people received $116 billion in health care from hospitals, doctors and other providers. The uninsured paid 37 percent of that amount out of their own pockets, and government programs and charities covered another 26 percent."

"That left about $43 billion unpaid, and that sum made its way into premiums charged by private insurance companies to businesses and individuals, the report said."

About 12 percent of U.S. homeowners late paying or foreclosed

"One of eight U.S. households with a mortgage ended the first quarter late on loan payments or in the foreclosure process in a crisis that will persist for at least another year until unemployment peaks, the Mortgage Bankers Association said on Thursday."

"Prime fixed-rate loans comprise 65 percent of the $9.9 trillion in outstanding first mortgages, according to the industry group."

"Foreclosure actions were started on an all-time high 1.37 percent of first mortgages in the quarter, a record increase from 1.08 percent the prior quarter."

Democrats to launch fight on $450B highway bill

"House Democrats are about to launch an ambitious effort to move a $450 billion highway bill to President Obama’s desk by the end of September."

"This year’s bill will be bigger than the 2005 bill, which cost $286 billion and was approved months after Congress hoped it would have gone into effect. Oberstar has said he expects the 2009 bill, which would authorize funding for road and rail projects over six years, will cost about $450 billion."

"During the 2008 presidential campaign, Obama said he would go through legislation line-by-line to target wasteful spending. Administration officials defended the decision to sign the $410 billion omnibus bill by arguing it represented last year’s business. "

"Lawmakers have submitted $136.3 billion in earmarked requests for local projects to this year’s highway bill, though many may not end up in the final product. The 2005 bill included $24 billion in earmarks."

Obama ducks promise to delay bill signings

"It seemed among the easiest of his transparency pledges and is entirely under his control, but President Obama is finagling his promise to post bills on the White House Web site for comment for five days before he signs them."

"Mr. Obama last week signed four bills, each just a day or two after Congress passed and sent it over to him."

"The White House said it posted links from its Web site to Congress' legislative Web site about a week before Mr. Obama signed the measures, but transparency advocates say that doesn't match the president's pledge to give Americans time to comment on the final version he is about to sign."

"He didn't say, 'When there's a bill heading to my desk,' or 'When we're pretty sure a bill will soon be passed.' He said when a bill ends up on his desk - a strong implication that public review would follow the bill arriving at his desk," said Jim Harper, director of information policy studies at the Cato Institute."

Supreme Court rules police can initiate suspect's questioning

"The U.S. Supreme Court ruled on Tuesday that police, under certain circumstances, can initiate an interrogation of a suspect without the defendant's lawyer being present."

"By a 5-4 vote, the conservative majority overruled a 23-year-old Supreme Court decision that barred the police from initiating questioning after a defendant asserted the right to an attorney at an arraignment or similar proceeding."

Sunday, May 24, 2009

Unemployment rate dips in Jacksonville

"Unemployment in Jacksonville dipped slightly to 9.2 percent in April, down from a seasonally adjusted 9.4 percent in March but still double the rate a year ago."

"The numbers were announced Friday by the state’s Agency or Workforce Innovation. Statewide unemployment dipped from a seasonally adjusted 9.8 percent in March to 9.6 percent in April. The rate was 4.9 percent in April 2008."

Web site details state’s travel costs

"Florida’s air travel bill between April 13 and April 30 was nearly $33,000, with the governor and state attorney general racking up the most flight time."

"The information comes from state travel logs that Florida’s Chief Financial Officer Alex Sink announced are now posted on line by the Florida Department of Management Services (DMS)."

Third Grade FCAT Results Released

"The third grade results of the Florida Comprehensive Assessment Test (FCAT) were released today."

"More students are at or above grade-level than the FCAT has ever seen. Looking long-term, the percentage of third graders at grade level or better is up 26% in nine years."

"Overall, 78% of third graders are at or above grade level, a 2% increase over last year. The reading scores slipped from 72% last year to 71% this year."

Wednesday, May 20, 2009

Customers more unhappy with U.S. banks: survey

"Higher fees and a worsening image for U.S. banks have left customers of the nation's biggest lenders more dissatisfied with the service they receive, a J.D. Power and Associates survey shows."

"Only 35 percent of customers polled said they are highly committed to their retail banks, down from 37 percent in 2008 and 41 percent in 2007."

"Rising fees were the main reason that customers switched banks. One in three who changed banks in the last year said they did so because of higher fees, according to the survey, which was released on Tuesday."

"A study late last year by Bankrate.com found that lenders were imposing record high fees on such items as bounced checks and ATM charges, while boosting the minimum deposit amounts needed to avoid monthly fees."

Obama Calls for An Extreme Makeover of Our Culture: Are the Credit Card Companies Listening? [Updated]

"The problem, according to the president: "Too many of us view life only through the lens of immediate self-interest and crass materialism; in which the world is necessarily a zero-sum game. The strong too often dominate the weak, and too many of those with wealth and power find all manner of justification for their own privilege in the face of poverty and injustice."

"And he should definitely send it to the credit card companies, which, faced with customers choking on debt and forced to use their credits cards to pay for essentials like food and medical care, respond by jacking up interest rates and tacking on penalties and fees. Even as credit card defaults reached record levels in April. "

"When banks are charging 30 percent interest rates, they are not making credit available," said Senator Sanders. "They are engaged in loan sharking." Also known as usury. Throughout history, usury has been decried by writers, philosophers, and religious leaders."

JEA Approves Water Rate Increase

"The cost of water and sewer services is going up by about 10% for the average JEA customer. The JEA board of directors approved the hike on Tuesday folowing two years of study."

"Nearly 70% of JEA customers consume 6,000 gallons or less of water each month. For those households the water-sewer bill starting in October will go up slightly more than $5.00 a month."

"The October 1 water and sewer increase is the first of four rate hikes that will have bills go up around 10% each year."

City revenues, and expenses, dropping

"A mid-year budget report for Jacksonville shows revenues have dropped, but so have expenses. Revenues are $15.8 million below expectations. At the same time, city officials have cut spending by $22.4 million."

"The report notes a $10.7 million falloff in sales tax revenue alone, hinting at the overall economic woes city officials expect will continue preying on the coffers into next year. Among expense cuts, the report notes the city should save $14 million in salaries and benefits for a number of open jobs that have not been filled."

Monday, May 18, 2009

The Anatomy of Motive : The FBI's Legendary Mindhunter Explores the Key to Understanding and Catching Violent Criminals

Title: The Anatomy of Motive
Author: John Douglas
Genre: Non-Fiction, Crime

Review: Another Douglas book that is just like his other ones. Read one and you are good to go.

Grade: C

A World Apart: Women, Prison, and Life Behind Bars

Title: A World Apart
Author: Cristina Rathbone
Genre: Non-Fiction, Crime, Prison, Women

Review: Very easy to read story about the women prison system. It makes you think...

Grade: B

The Associate

Title: The Associate
Author: John Grisham
Genre: Fiction, Legal Thriller

Review: Decent Grisham novel. He has been kind of off in his last few books this one included. A quick and worthy read, however.

Grade: C+

Forces of Habit

Title: Forces of Habit
Author: David Courtwright
Genre: Non-Fiction, Drugs, History

Review: A easy read. Short. Interesting argument by a UNF professor in regards to the power of drugs (and their effects on the people and the economy) throughout the world.

Grade: C+

U.S. workers paying more for healthcare: report

"Healthcare costs for Americans who get medical coverage through an employer hit a record $16,771 per family this year, and they are having to pay more themselves, a report released on Monday showed."

"Employers trying to save money in the current recession have forced workers to take on a greater portion of their healthcare costs, according to Milliman Inc., the consulting firm that prepared the report."

"Costs grew by an average of $1,162 per family this year from an average of $15,609 last year, the report said.'

"While employers' contribution to workers' monthly premiums increased by 5.4 percent over the past year, employees' contributions went up 14.7 percent, the third straight year of double-digit increases, the report said."

"Employers still pay the lion's share of healthcare costs, with an average contribution of $9,947 per worker. Employees paid an average of $4,004 in payroll deductions and an additional $2,820 in out-of-pocket expenses, the report found."

Thursday, May 14, 2009

Germany set to suffer record deficit

"The German government will record its biggest post-war budget deficit this year as the economic crisis sends tax revenues plummeting, Peer Steinbrück, finance minister, said on Thursday."

"Mr Steinbrück admitted the federal deficit would exceed €50bn in 2009 and rise to €90bn next year, more than twice the previous record of €40bn set in 1996 as Germany was absorbing the huge cost of its unification. In contrast, the federal deficit last year was only €11.9bn."

CEO base pay plummets 24 percent in last year

"The average base salary of a CEO at a U.S. public company dropped 23.9 percent in the past year to $1.2 million, according to a study."

"The drop is the largest decline in base salaries in the past 12 years, according to the Redmond, Wash.-based ERI Economic Research Institute’s Executive Compensation Index."

"In May 2009, the average base pay was $1.2 million, down from $1.58 million in May 2008. But other parts of an average CEO’s compensation package haven’t fallen nearly as dramatically."

"Bonus and nonequity incentives have risen 1 percent in the past year, as well as other compensations. The average CEO compensation package, which includes bonuses, options, pension and other items, is now $16.65 million annually, down 3.3 percent from $17.21 million a year ago."

Is America about to go broke?

"News reports regularly inform us of the growing federal deficit, projected at a stunning $1.75 trillion for fiscal 2009 and $1.17 trillion for 2010. But regularly reported, less visible government obligations have been growing much faster."

"In the four years from January 2004 to January 2008, the Medicare trustees reported that the unfunded liabilities of Social Security and Medicare grew by a stunning $10.4 trillion. The average annual growth topped $2.5 trillion. "

"In the 2008 trustees' report (.pdf file), the unfunded liabilities of Social Security and Medicare -- promises of future retirement and health care benefits -- total $42.9 trillion. In a few days, we should be able to read the 2009 report. It's a good bet that the unfunded liabilities will show an increase in the new report."

White House memo challenges EPA finding on warming

"An Environmental Protection Agency proposal that could lead to regulating the gases blamed for global warming will prove costly for factories, small businesses and other institutions, according to a White House document."

"The nine-page memo is a compilation of opinions made by a dozen federal agencies and departments during an internal review before the EPA issued a finding in April that greenhouse gases pose dangers to public health and welfare."

"That finding could set in motion for the first time the regulation of six heat-trapping gases from cars and trucks, factories and other sources under the Clean Air Act."

"The document, labeled "Deliberative-Attorney Client Privilege," says that if the EPA proceeds with the regulation of heat-trapping gases, including carbon dioxide, factories, small businesses and institutions would be subject to costly regulation."

"Making the decision to regulate carbon dioxide ... is likely to have serious economic consequences for regulated entities throughout the U.S. economy, including small businesses and small communities," the document says."

Tuesday, May 12, 2009

Most Liberal States Are Least Free

According to ABC, the most overpriced cities in America with "bloated housing prices, lofty living costs and unemployment rates among the highest in the nation" include:

1. LA
2. Chicago
4. New York City.

http://abcnews.go.com/Business/Economy/Story?id=7559867&page=2

"According to a new study released by the Mercatus Center of George Mason University, some of the most liberal U.S. states rank lowest when it comes to personal freedom."

"The freest states are New Hampshire, Colorado, and South Dakota, which together achieve a virtual tie for first place. All three states feature low taxes and government spending -- and middling levels of regulation and paternalism."

"New York is the least overall free by a considerable margin, followed by New Jersey, Rhode Island, California, and Maryland. "

http://www.newsmax.com/insidecover/free_states_study/2009/05/06/211385.html?utm_medium=RSS

Annual Checkup for Social Security and Medicare

"A year ago, the trustees projected that the Social Security trust fund would start paying out more in benefits than it collects in taxes in 2017 and that the trust fund would be depleted in 2041."

"For the Medicare trust fund, which pays for hospital care, the situation was more urgent. It was projected to start paying more in benefits than it collects in taxes within a year, and the trustees forecast that it would be depleted by 2019."

"Fewer people working means less being paid into the trust funds for Social Security and Medicare. The Congressional Budget Office recently projected that Social Security will collect just $3 billion more in 2010 than it will pay out in benefits. A year ago, the CBO had projected that Social Security would have a much higher $86 billion cash surplus for the 2010 budget year, which begins Oct. 1. The difference in the two estimates is the result of the recession."

Home sales up in Jacksonville and statewide

"Existing single-family home sales were up 7 percent in Jacksonville during the first quarter 2009, and the statewide numbers were even better. Condominium sales in Jacksonville dropped 9 percent, according to the Florida Association of Realtors."

Sunday, May 10, 2009

Taxis and buses face automatic speed limiting

"Thousands of taxis, buses and council vehicles could be fitted with devices that prevent them from exceeding the speed limit."

"The technology — known as Intelligent Speed Adaptation (ISA) — is being tested by Transport for London in a trial starting this summer on all roads inside the M25."

"Drivers of vehicles with ISA will be able to select an option that prevents them from accelerating over the limit. The vehicle will also automatically slow down if the driver fails to reduce his speed when he passes a sign marking a lower limit."

"The device uses satellite tracking and a digital road map to detect the local speed limit."

Congress Plans Incentives for Healthy Habits

"In its effort to overhaul health care, Congress is planning to give employers sweeping new authority to reward employees for healthy behavior, including better diet, more exercise, weight loss and smoking cessation."

"Congress is seriously considering proposals to provide tax credits or other subsidies to employers who offer wellness programs that meet federal criteria. In addition, lawmakers said they would make it easier for employers to use financial rewards or penalties to promote healthy behavior among employees."

"Under Mr. Harkin’s proposal, employers could obtain tax credits for programs that offer periodic screenings for health problems and counseling to help employees adopt healthier lifestyles. Programs could focus on tobacco use, obesity, physical fitness, nutrition and depression, he said."

Teaching Americans to Read and Write

"About 30 million people -- 14 percent of the US population 16 and older -- have trouble with basic reading and writing. Correlating factors that were explored in a new government report include poverty, ethnicity, native language background, and disabilities."

"Of these 30 million people, 7 million are considered "nonliterate" in English because their reading abilities are so low. When shown the label for an over-the-counter drug, for instance, many in this subgroup cannot read the word "adult" or a sentence explaining what to do in the event of an overdose."

Leaders Push for Police Presence at Block Parties

"In light of the recent violence at a block party, city leaders, MAD DADS and church leaders have proposed a change to a city ordinance requiring off-duty officers to be present at these large gatherings. "

"Private residents must already obtain a permit to have a block party but this revision would make them financially responsible for the police presence. "

"We feel this is necessary to provide sufficient security, to control the unexpected amount of attendees including children, the elderly and families," said Donald Foy, president of MAD DADS. "

"According to the Jacksonville Sheriff's Office, the price for an officer can vary depending on the function. But all events with alcohol are required to have two officers or more depending on the number of people in attendance. Standard rates are $28 per hour for an officer."

Beautiful Boy

Title: Beautiful Boy: A Father's Journey Through His Son's Addiction
Author: David Sheff
Genre: Non-Fiction, Memoir, Drugs

Review: Excellent book and memoir. Sheff writes about his son's addiction with meth (and the irony that he had his own addiction with his son's "treatment"). Short and easy to read. I highly recommend this book for anyone who has or knows someone with an addiction (this should apply to everyone whether you think so or not).

Grade: A

Knockemstiff

Title: Knockemstiff
Author: Donald Ray Pollock
Genre: Drama

Review: Decent book. Short and easy to read. It lacks any climax or story though. It was just a handful of different stories about a small town.

Grade: C

The Tales of Beedle the Bard

Title: The Tales of Beedle the Bard
Author: J.K. Rowling
Genre: Fiction, Magic, Science Fiction

Review: Very short book that includes a few short stories from the Harry Potter world. I have read a few in the series and this is nothing compared to the actual Harry Potter stories. I would suggest to not read it. Some of the stories do not even make any sense.

Grade: D+

The Telephone Gambit

Title: The Telephone Gambit: Chasing Alexander Graham Bell's Secret
Author: Seth Shulman
Genre: Non-fiction/Science

Review: Shulman argues that Bell was not the first to invent the phone but rather a man named Elisha Grey. Decent book although the book is too long. He repeats his argument and the handful of evidence to support it at least 12 times. Could have been a very small book (although it is only 200 pages).

Grade: B-

City of Thieves

Title: City of Thieves
Author: David Benioff
Genre: Drama/War

Review: Pretty good book about a soldier in World War II and his search for a dozen eggs. Short and well worth the time.

Grade: B

Thursday, May 7, 2009

N.Y. doctor offers flat-rate care for uninsured

"A New York doctor is offering flat-rate health care for the uninsured for $79 a month, but he has run afoul of state insurance regulations in a case that challenges the established norms of the U.S. health system."

"Dr. John Muney, president of AMG Medical Group, said he started the program in September after noticing that many of his patients were losing their jobs, and therefore, their health insurance coverage."

"About 500 people have registered for Muney's $79-a-month plan, accounting for 15 percent of patients at the practice, which has offices in each of New York's five boroughs."

"The monthly $79 fee -- roughly equivalent to the price of a Starbucks coffee a day -- covers unlimited preventive visits and onsite medical services such as minor surgery, physical therapy, lab work and gynecological care."

"So far the program has not turned a profit, but Muney said he estimates that it could be profitable with 4,000 patients. In the meantime, he said, his motive is to give something back and provide a model of how healthcare can be more efficient."

"Our healthcare system lends itself to abuse, fraud and waste," he said, adding that bypassing insurers saved on administrative costs, which he said were about 25 percent of the price of care. "With this model, we're bypassing all that."

"Muney said he received initial complaints from state insurance authorities in November. "The law says you can do preventive checkups unlimited, but if they come for sick visits you have to charge your overhead costs," he told Reuters."

"In February he received a letter instructing him that he must charge that minimum cost, which he calculates at $33 a visit -- a price he says will deter people from signing up."


Where Have All the Doctors Gone?

"But the rate of that growth is expected to shrink considerably over the next decade as the number of retirees increases."

"At the same time, consumer demand for medical services is expected to increase. Again, blame the baby boomers: While the total population is expected to increase by 18 percent over the next 10 years, the population over the age of 65 will expand by 54 percent. Since older people require more health care, we'll need more doctors to handle the same number of patients."

"Ironically, just a little more than a decade ago, there was a doctor surplus. In 1996, a committee of the Institute of Medicine warned that the United States had a surfeit of doctors caused by foreign-trained physicians coming here to work and recommended freezing med-school class sizes and limiting first-year residency positions. A year later, Slate ran an article on an alternative strategy for reducing the number of doctors approved by the federal Health Care Financing Administration. Under the Graduate Medical Education Demonstration Project, 41 teaching hospitals received $400 million in exchange for not training between 20 percent and 25 percent of the medical residents they would otherwise have trained over the next six years."

Monday, May 4, 2009

Obama Takes Aim At Tax Havens, Loopholes

"President Barack Obama vowed Monday to "detect and pursue" U.S tax evaders and go after their offshore tax shelters. "

"In announcing a series of steps aimed at overhauling the U.S. tax code, Mr. Obama complained that existing law makes it possible to "pay lower taxes if you create a job in Bangalore, India, than if you create one in Buffalo, New York."

"The president said he wants to prevent U.S. companies from deferring tax payments by keeping profits in foreign countries rather than recording them at home and called for more transparency in bank accounts that Americans hold in notorious tax havens like the Cayman Islands."

"The president, who hammered on this issue during his long campaign for the White House, said at a White House event that his plan would generate $210 billion in new taxes over 10 years and "make it easier" for companies to create jobs at home. Over a decade, $210 billion would make a modest dent in a federal deficit expected to swell to $1.2 trillion in 2010. "

"Under the plan, companies would not be able to write off domestic expenses for generating profits abroad. The goal is to reduce the incentive for U.S. companies to base all or part of their operations in other countries. "

The Rust Belt: A forgotten housing crisis

"While most attention has focused on the wave of foreclosures sweeping mostly middle-class, suburban Sunbelt neighborhoods from California to Florida, the nation's emptiest neighborhoods have remained concentrated in the same place for nearly a generation: the mostly minority, poor, urban neighborhoods of the American Rust Belt."

"An analysis by The Associated Press, based on data collected by the U.S. Postal Service and the Housing and Urban Development Department, shows the emptiest neighborhoods are clustered in places hit hard during the recession of the 1980s — cities such as Flint, Mich.; Columbus, Ohio; Buffalo, N.Y.; and Indianapolis."

"In some sections of certain areas like Cincinnati's Over-the-Rhine neighborhood, roughly two of every three homes are vacant or used by squatters. The area is more than 70 percent black and poor, with unemployment often around 50 percent. It's a place where simmering resentment and frustration boiled up into three days of rioting in 2001 after police fatally shot a young, unarmed black man fleeing arrest on traffic warrants."

"In Buffalo, there are as many as 10,000 vacant, abandoned homes. Suburban sprawl, an aging population and manufacturing losses have left the city with a population under 300,000 — about half what it was during the 1950s."

House Democrats unveil $94.2 billion wartime spending bill

"House Democrats unveiled a $94.2 billion wartime spending bill Monday which adds $9.3 billion to White House requests but also reflects serious doubts about the long-term viability of President Barack Obama’s military commitments to Afghanistan and its neighbor Pakistan. "

Get ready for more taxes, less service from $65B Florida budget deal

"A few days late and a little worn out, Florida legislators finally reached an accord Monday on how to balance the proposed $65 billion state budget that touches every life in the nation's fourth most-populous state."

"The budget raises an historic amount of taxes, fees and licenses -- about $2 billion worth -- on smokers, drivers, property owners, sportsmen, university students and sportsmen."

"Pumped with $5 billion in federal bailout cash, the budget provides a small boost in per-student spending for K-12 schools, and trims a wide array of Medicaid reimbursements to doctors and hospitals and applied a 2 percent reduction to the salaries of state workers earning more than $45,000 yearly."

Sunday, May 3, 2009

Book Review: Sail

Title: Sail
Author: James Patterson
Genre: Mystery

Review: Horrible book. I have constantly promised myself that I will no longer read Patterson novels, however, the quickness by which I can read his novels make it hard to turn them down. I wish I would have though; I didn't even finish it.

Do not read this book!

Grade: F

Book Review: Indignation

Title: Indignation
Author: Philip Roth
Genre: Drama

Review: A good story. It is incredibly short and can be read in only a few hours.


Grade: B+

Book Review: The Spellman Files

Title: The Spellman Files
Author: Lisa Lutz
Genre: Mystery, Comedy

Review: This is a hilarious book. It is both entertaining and engrossing. I couldn't put it down. It is a comedy/crime novel about a family of private investigators and the life they live.


A must read!

Grade: A

(For all book reviews: the above link will guide you to the synopsis of the actual book. My only job is to tell you, in the least amount of words, whether it is worth reading or not).

Taxpayers to get rude surprise

"Millions of Americans enjoying their small windfall from President Barack Obama's "Making Work Pay" tax credit are in for an unpleasant surprise next spring. "

"The government is going to want some of that money back."

"The tax credit is supposed to provide up to $400 to individuals and $800 to married couples as part of the massive economic recovery package enacted in February. Most workers started receiving the credit through small increases in their paychecks in the past month."

"The credit pays workers 6.2 percent of their earned income, up to a maximum of $400 for individuals and $800 for married couples who file jointly. Individuals making more $95,000 and couples making more than $190,000 are ineligible."

"But new tax withholding tables issued by the IRS could cause millions of taxpayers to get hundreds of dollars more than they are entitled to under the credit, money that will have to be repaid at tax time."

"A single worker with two jobs making $20,000 a year at each job will get a $400 boost in take-home pay at each of them, for a total of $800. That worker, however, is eligible for a maximum credit of $400, so the remaining $400 will have to be paid back at tax time -- either through a smaller refund or a payment to the IRS."

Thursday, April 30, 2009

Jacksonville Air Quality: F

"The American Lung Association has given Duval County an "F" grade in air quality."

"Breaking it down, the city scores an "F" in both the number of high ozone days and in particle pollution."

"The worst air quality? It's Los Angeles. By comparison, the ozone data for Los Angeles indicates a weighted average of 96.5. A failing grade is anything over a 3.3. Jacksonville rates a 7.0."

School Cut By 45 Minutes For Thousands of Local Students

"The Duval County School Board reduced the amount of time middle and high school students will spend at school next year."

"In a 5-2 vote, the board voted to reduce the school day by 45 minutes."

"The district says it will save $13 million dollars, but 200 positions will be cut. Students will have three 90-minute classes and one 45-minute class."

Teach for (Some of) America

"If you've spent time on university campuses lately, you probably know the answer. Teach for America -- the privately funded program that sends college grads into America's poorest school districts for two years -- received 35,000 applications this year, up 42% from 2008. More than 11% of Ivy League seniors applied, including 35% of African-American seniors at Harvard. Teach for America has been gaining applicants since it was founded in 1990, but its popularity has exploded this year amid a tight job market."

"So poor urban and rural school districts must be rejoicing, right? Hardly. Union and bureaucratic opposition is so strong that Teach for America is allotted a mere 3,800 teaching slots nationwide, or a little more than one in 10 of this year's applicants. Districts place a cap on the number of Teach for America teachers they will accept, typically between 10% and 30% of new hires. In the Washington area, that number is about 25% to 30%, but in Chicago, former home of Secretary of Education Arne Duncan, it is an embarrassing 10%."

"This is a tragic lost opportunity. Teach for America picks up the $20,000 tab for the recruitment and training of each teacher, which saves public money. More important, the program feeds high-energy, high-IQ talent into a teaching profession that desperately needs it. Unions claim the recent grads lack the proper experience and commitment to a teaching career. But the Urban Institute has studied the program and found that "TFA status more than offsets any experience effects. Disadvantaged secondary students would be better off with TFA teachers, especially in math and science, than with fully licensed in-field teachers with three or more years of experience."

Sunday, April 26, 2009

Obama Calls for an End to 'Abusive' Credit Card Lending

"Surrounded by some of the country's top credit card company executives, President Obama today called for an end to "unfair rate increases," "abusive fees" and "confusing terms and conditions" facing American consumers."

"I think there has to be strong and reliable protections for consumers -- protections that ban unfair rate increases and forbid abusive fees and penalties," Obama said. "The days of anytime, any-reason rate hikes and late fee traps have to end."

"In addition to limits on rate increases and late-term penalties, the president called for companies to disclose the terms and conditions of credit cards "in plain language" and "in plain sight." "No more fine print, no more confusing terms and conditions. We want clarity and transparency from here on out," he said."

"He also proposed that each card issuer might issue "a plain vanilla, easy-to-understand" credit card "that the average user can feel comfortable with." There should also be more accountability for card issuers, he said. Those who break the law, Obama said, "will feel the full weight of the law.""

House votes to increase Fla. graduation standards

"High school graduation standards would be tightened under a bill that's cleared the Florida House."

"The measure (HB 1293) passed Thursday on a 75-42 party line vote with Republicans for and Democrats against."

"It would increase math and science requirements and the score needed on the Florida Comprehensive Assessment Test, or FCAT, to get a standard diploma."

Council members balk at Peyton's landfill deal

"In its initial vote on Mayor John Peyton’s Trail Ridge landfill proposal, Jacksonville’s City Council recommended to itself Thursday that the controversial plan be withdrawn."

"Meeting as a “committee of the whole,” council members voted 11-7 against allowing the city to extend its contract with Waste Management. At least two of those seven voted against the measure because they wanted more discussion, not necessarily because they supported the mayor’s plan."

"Peyton wants the council to waive procurement rules and allowed Waste Management to continue operating the landfill for the next 35 years or so, a deal worth an estimated $750 million. The recommendation for withdrawal will go before the full council for a final vote at Tuesday’s regularly scheduled meeting."

"How they voted
The Jacksonville City Council members, meeting as a “committee of the whole,” voted 11-7 Thursday to recommend to itself the withdrawal of the mayor’s proposal giving Waste Management a contract extension worth an estimated $750 million over the next 35 years. Here is how each member voted:"

Yes
Bill Bishop
Richard Clark
Michael Corrigan
Daniel Davis
Ronnie Fussell
Johnny Gaffney
Art Graham
Kevin Hyde
Glorious Johnson
Denise Lee
Jack Webb

No
Reggie Brown
John Crescimbeni
Ray Holt
Warren Jones
Stephen Joost
Don Redman
Clay Yarborough

Not present
Art Shad

You can run red lights, but you can't hide from cameras

"Cameras that automatically take pictures of motorists running red lights soon could be installed at intersections all over Florida."

"The Senate Ways and Means Committee on Tuesday passed a red-light camera bill (SB 2004) similar to one that received House committee approval Monday (HB 439)."

"If the chambers agree on a final version of the two bills, drivers caught on film would be fined $150 but would not have points assessed on their licenses, theoretically allowing them to avoid higher insurance bills."

"The big difference between the House and Senate bills is where money collected from the fines will go. Both versions would return $90 to the city or county where the cameras are mounted."

"The Senate bill directs $40 to general revenues — which can be spent on any state program — and $20 to hospital trauma centers; the House would send $30 to the state transportation trust fund — for roads and transit projects — and $30 to trauma centers."

Banned Techniques Yielded ‘High Value Information,’ Memo Says

"President Obama’s national intelligence director told colleagues in a private memo last week that the harsh interrogation techniques banned by the White House did produce significant information that helped the nation in its struggle with terrorists."

“High value information came from interrogations in which those methods were used and provided a deeper understanding of the al Qa’ida organization that was attacking this country,” Adm. Dennis C. Blair, the intelligence director, wrote in a memo to his staff last Thursday. "

Sunday, April 19, 2009

Mortgage industry changes throw new hurdles in borrowers' way

"Mortgage rates and house prices are down -- which sounds great for buyers and refinancers. But mortgage industry underwriting and appraisal changes taking effect this month are putting new hurdles in the way of borrowers and loan officers."

"Take Fannie Mae's and Freddie Mac's add-on fees for loans purchased after April 1. In some cases, applicants are being hit with extra fees of 3% to 5% because of the type of property they want to buy or refinance, their credit scores or the size of their down payment."

"Some major lenders who sell loans to Fannie and Freddie are going further -- tightening underwriting rules beyond what either corporation requires. For example, as of April 6, Wells Fargo, one of the country's largest mortgage originators, imposed a new minimum FICO credit score of 720 -- up from the previous 620 -- on all conventional loans purchased through its wholesale system that have less than a 20% down payment. It also began requiring a total debt-to-income ratio maximum of 41% -- down from the previous 45%."

"Fannie Mae now has a mandatory fee of three-quarters of a percentage point on all condominium loans, no matter how high the applicant's credit score. For a once-popular interest-only condo loan with a 20% down payment and a borrower credit score of 690, Fannie imposes the following ratcheted sequence of add-ons: one-quarter of a percentage point as an "adverse market" fee; 1.5% for the below-optimal credit score; three-quarters of a percentage point for the interest-only payment feature; and the same because the property is a condo. The total comes to 3.25% extra, which can be paid upfront or rolled into the loan."

"On top of these extra fees, borrowers are now starting to get hit with two sets of cost-raising appraisal rule changes. Fannie and Freddie have begun requiring all appraisers to complete an extra "market condition" report that includes detailed statistical analyses of local sales and pricing trends -- above and beyond the regular appraisal data. Many appraisers are charging an extra $45 to $50 for the time required to complete the form. Home buyers and refinancers can expect to pay the higher fees."

"On top of that, beginning May 1, Fannie and Freddie are refusing to fund loans with appraisals that do not follow a set of new rules known as the Home Valuation Code of Conduct. Among the procedural changes: Mortgage brokers no longer can order appraisals directly, but instead must allow lenders or investors to use third-party "appraisal management companies" to assign the job to appraisers in their networks."

"How does that affect the consumer? Consider the notification one Connecticut brokerage firm recently received from a major lending partner: Starting April 15, all good faith estimates provided to applicants must indicate a flat $455 charge for appraisals arranged through the appraisal management company. The broker previously charged $325. Consumers will now have to pay the appraisal fee upfront -- before any inspection or valuation is completed -- using a credit card, debit card or electronic fund transfer."

62 Trillion Spam E-mails = ?

"According to a report released this week by computer security company McAfee, spammers last year generated a whopping 62 trillion junk e-mails."

"What does that mean in terms of energy?"

"Instead of sending messages asking for money or marketing Viagra, the electricity used sending the e-mails could have powered 2.4 million homes for a year or driven a car around the planet 1.6 times, according to the report. "

"Spam-related emissions for all e-mail users around the world in 2008 totaled 17 million metric tons of CO2, according to ICF International, the consulting firm that partnered with McAfee on the study. That's .2 percent of the total global emissions."

Tuesday, April 14, 2009

Decline in blacks in prison for drug crimes reverses 25-year trend

"For the first time in a quarter century, the number of African-Americans incarcerated for drug offenses in state prisons has declined more than 20 percent while the number of white imprisoned drug offenders has increased more than 40 percent."

"The decline took place over a six year period from 1999 to 2005 and reflects fundamental changes in the so-called "war on drugs" – how it's targeted and prosecuted – as well as the waning of the crack epidemic in predominantly minority urban areas and the increase in methamphetamine abuse in largely white rural neighborhoods. "

"According to the study, the number of blacks in state prisons on drug-related charges dropped from 144,700 in 1991 to 113,500 in 2005. The number of white drug-offenders in prison increased during the same time from 50,700 to 72,300."

"The majority of incarcerated drug offenders have been African-American – despite the fact that drug abuse rates are fairly equal across ethnic and racial lines – and that fed a widespread perception that law enforcement efforts were racially biased."

Florida Studies Reveal Huge Increase in Cost of Illegal Immigration and Widespread Voter Dissatisfaction

"A separate FAIR study, the Costs of Illegal Immigration to Floridians found that providing education and health care to illegal aliens and their families, and incarcerating criminal illegal aliens, costs state taxpayers more than $3.8 billion annually, more than double the costs measured in 2005."

"The Costs of Illegal Immigration to Floridians found that taxpayers spend:"

"-- $3.4 billion a year to educate illegal immigrant children and the U.S. born children of illegal immigrants. -- $290 million a year on unreimbursed health care for illegal aliens. -- $90 million a year to incarcerate criminal illegal aliens."

CNSNews.com Green Stimulus Money Costs More Jobs Than It Creates, Study Shows

"Every “green job” created with government money in Spain over the last eight years came at the cost of 2.2 regular jobs, and only one in 10 of the newly created green jobs became a permanent job, says a new study released this month. The study draws parallels with the green jobs programs of the Obama administration. "

"Spain’s experience (cited by President Obama as a model) reveals with high confidence, by two different methods, that the U.S. should expect a loss of at least 2.2 jobs on average, or about 9 jobs lost for every 4 created, to which we have to add those jobs that non-subsidized investments with the same resources would have created,” wrote Calzada in his report: Study of the Effects on Employment of Public Aid to Renewable Energy Sources."

Obama relaxes travel restrictions to Cuba

"President Barack Obama on Monday took a big step towards relaxing sanctions on Cuba, lifting all travel and remittance restrictions on Cuban-Americans and permitting US telecoms companies to offer services directly to the island."

"The end of the restrictions, which Mr Obama promised during his campaign, means Cuban-Americans will be able to travel to the island state when they like, as opposed to once a year, and send as much money as they want to relatives, as opposed to $75 a month. Mr Obama also said he would permit Cuban-Americans to pay for US-provided telecoms services to relatives living in Cuba."

Sunday, April 12, 2009

HUD's Dollar Homes falls short of mission

"Congress launched the program in 1998 to clear the Department of Housing and Urban Development's books of foreclosures and provide affordable housing. Local governments would buy the homes for $1, fix them up and resell them at a discount to poor families, who would get a chance to put down roots in the community."

"At least that's how it was supposed to work. A Times investigation has found that the Dollar Homes program has helped housing contractors and investors, but there is no evidence that it has provided any lasting benefit to people like the Ptaceks. The findings offer a cautionary tale as the Obama administration works to craft similar efforts to help communities ravaged by the housing slump."

"More than 2,300 homes have been sold by HUD for $1 each nationwide, with 326 in California. Nearly half of the homes in California were bought by companies or individuals who typically resold them at a much higher price. Only 15% were sold to nonprofit housing groups such as Habitat for Humanity, records show."

Obama requests $83.4 billion more for war spending

"President Obama is seeking an additional $83.4 billion for military operations in Iraq and Afghanistan, a request that will drive the cost of the two wars to nearly $1 trillion since 2001."

"The budget request, to cover operations for the remainder of 2009, comes on top of $67.2 billion approved last fall as a down payment for the year. However, the annual total, about $150 billion, is lower than the amount spent in 2008, after the conclusion of the U.S. troop "surge" in Iraq."

"The $83.4-billion request includes $75.8 billion for military operations. An additional $7.1 billion will go to diplomatic efforts and foreign aid, including $1.6 billion for Afghanistan, $1.4 billion for Pakistan and $700 million for Iraq."

"In February, the Obama administration estimated that it would need $75.5 billion. The extra money will be used in part for $400 million to increase security on the U.S.-Mexico border. The proposal also includes an additional $3.6 billion for Afghanistan's forces and $400 million to help fund counterinsurgency efforts in Pakistan."

Laid-off U.S. workers finding new jobs, less pay

"Half of U.S. workers laid off in the past year who were questioned in a survey released on Wednesday reported finding new jobs, but often with less pay and in a different field."

"The survey of 807 adults who lost full-time jobs in the past year showed that 49 percent had found new jobs but of those, 49 percent now earn less money."

"Of those with new jobs, 38 percent said they are now employed in a different field, the survey found. Eight percent reported finding part-time work."

Study Buoys Mortgage Modification

"Cutting financially troubled borrowers' monthly mortgage payments by more than 10% reduces the chances that they will fall behind again after their loan is modified, a study found."

"While modifications that result in lower payments are increasing, nearly half of all loan workouts still result in the same or higher payments, the study found."

"The report comes as a weak economy and falling home prices are creating problems for a number of borrowers, including many who previously had good credit. The biggest percentage jump in troubled loans was for prime mortgages, with 2.4% of these loans more than 60 days past due at the end of the fourth quarter, up from 1.1% at the end of the first quarter. The portion of subprime loans that were more than 60 days past due climbed to 16% from 11% during this same period. Overall, more than one in 10 loans were 60 days past due, the report found."

"Some borrowers fall behind again because of job loss or other problems, but whether or not the borrower gets payment relief also appears to play a role in the outcome. The redefault rate was just 26% after nine months when monthly payments were cut by more than 10%, compared with about 50% when the payment increased or remained the same."

"Servicers have stepped up their efforts to modify loans and reduce borrowers' payments in response to pressure to reduce foreclosures. The percentage of modifications that reduced loan payments by more than 10% increased to 37% in the fourth quarter from 26% in the third quarter. Still, roughly one in four borrowers saw their payments increase after their loan was modified."

"Mortgage servicers have been more successful modifying loans that are held on their own books than those that are owned by mortgage investors. Nearly half of investor loans were at least 60 days delinquent nine months after they were modified compared with about 30% of loans that are held in bank portfolios. Servicers said they have more flexibility to rework loan terms for mortgages they own than for those held by investors."

Tuesday, April 7, 2009

Sex offender sentenced to 70 years

"A youthful-looking sex offender who posed as a 12-year-old boy to enroll in several Arizona schools was sentenced to more than 70 years in prison Tuesday."

"Neil Havens Rodreick II pleaded guilty last year to seven criminal charges. Most involved child pornography but two stemmed from the charade he pulled off for two years."

"Authorities didn't find any victims of sexual abuse at the schools Rodreick attended, but they found an extensive collection of child pornography at his home."

"Rodreick originally faced 28 counts, but pleaded guilty to only a quarter of them: four counts of sexual exploitation of a minor stemming from the pornography, and one count each of failure to register as a sex offender, fraud and simple assault. The assault charge involved an allegation that he grabbed a girl's buttocks at a school in Prescott Valley with the intent to injure, insult or provoke."

Fewer Bus Stops Part of School Transportation Changes

"More students in Duval County could be walking to school or seeing their parents give them a ride to a school so they can catch a magnet bus."

"The Duval County School Board is rethinking its transportation plan to save money in tight times. Several changes are being considered that would add up to nearly $5 million in savings to taxpayers."

"One proposal up for debate would cut some bus stops for students who attend magnet schools. This plan would have magnet students picked from their neighborhood school and then bused to their magnet school."

"Another transportation change would increase the distance from school where transportation is provided. At present, students are not afforded a bus ride if they live closer than 1.5 miles from their school. That distance could be increased to 2 miles, which is the state standard."

Sunday, April 5, 2009

$1T hit to pensions could cost taxpayers, workers

"Pensions need $270 billion in additional contributions over the next four years, and more than $100 billion annually for two decades hence, according to the Center for Retirement Research at Boston College."

"But as bad as the budget picture looks, it is dwarfed by the size of the gaps in states' pensions, which have collectively lost at least $1 trillion as financial markets swooned over the past year. Public pensions cover about 14 million state and local employees and paid out almost $163 billion to seven million retirees in 2006-2007, according to the Census Bureau."

1 in 5 Medicare patients readmitted within month

"One in five Medicare patients ends up back in the hospital within a month of discharge, a large study found, and that practice costs billions of dollars a year."

"The findings suggest patients aren't told enough about how to take care of themselves and stay healthy before they go home, the researchers said. A few simple things — like making a doctor's appointment for departing patients — can help, they said."

"The study found that a surprising half of the non-surgery patients who returned within a month hadn't even seen a doctor between hospital stays."

"About 10% of all readmissions were probably planned, such as putting in a stent, the researchers said. They estimated that unplanned return visits accounted for $17.4 billion of the $102.6 billion that Medicare paid hospitals in 2004."

9 Texans made nearly 2,700 ER visits

"Just nine people accounted for nearly 2,700 of the emergency room visits in the Austin area during the past six years at a cost of $3 million to taxpayers and others, according to a report."

"The patients went to hospital emergency rooms 2,678 times from 2003 through 2008, said the report from the non-profit Integrated Care Collaboration, a group of health care providers who care for low-income and uninsured patients."

GOP proposes big tax cuts, spending curbs

"Despite spending reductions, the plan projects permanent deficits exceeding $500 billion into the future, fueled largely by big tax cuts."

"The GOP plan would offer a dramatically simplified tax code in which couples would have the option of a 10 percent rate on the first $100,000 of income, with a 25 percent rate thereafter, with the first $25,000 of income exempt from taxation. Single filers could get a $12,500 exemption and a 10 percent rate on income up to $50,000."

"Taxpayers could also opt to remain in the current system. On Medicare, workers under the age of 55 would enroll in private plans and receive premium subsidies equal to the average Medicare benefit when they retire. Benefits would not be changed for people in the program or people 55 or older."

Florida to receive $168M to go green

"Florida will receive $168 million in federal stimulus money to pay for projects that reduce energy use, greenhouse gas emissions and improve energy efficiency."

"The money is being made available through the Energy Efficiency and Conservation Block Grant (EECBG) program, which was signed into law in 2007. However, the program was not funded until the American Recovery and Reinvestment Act of 2009 was signed into law."

"The money will be allocated through grants to 17 counties ($74 million), 69 cities ($64 million), two tribal governments ($243,000) and the governor’s Energy Office ($30 million)."

"In addition, the Energy Office will distribute $18 million in sub-grants – 60 percent of its federal allocation to smaller cities and counties that are ineligible for direct formula grants."