Headline from the NY Times, 12/20/08
In a single year, a coal-fired electric plant deposited more than 2.2 million pounds of toxic materials in a holding pond that failed last week, flooding 300 acres in East Tennessee, according to a 2007 inventory filed with the Environmental Protection Agency.
My only comment: proof of the fallacy of clean coal.
Tuesday, December 30, 2008
Monday, December 29, 2008
The one true gospel
Gospel means good news. It means life. It means Yeshua. It means the Christ, the anointed one of God.
The one true gospel is the Christ died for our sins according to the scriptures, He was buried and He rose again the third day according to the scriptures. (Luke 24, 1 Cor 15:-16)
The one true gospel is the Christ died for our sins according to the scriptures, He was buried and He rose again the third day according to the scriptures. (Luke 24, 1 Cor 15:-16)
Private company versus a public company and a suggestion
There is a private company owned by an individual or certain number of individuals. There is a public company that consists of publically traded stock. The private company has private ownership. The public company is owned by the public at large. There is a difference between private holding and public holding. Private companies can pretty much do what they want. They are not even bound to publically disclose their financials. A public company must make quarterly statement, announce high level decisions and other events that might impact stock price. They must supply much trustworthy information for public consumption.
All said, a public company is not a money trough for management. A public company is not ca hecking account with an unlimited supply of blank checks for management.
I suggest to make public companies exactly what they are-a public holding. The pay and benefits these companies pay management is ridiculous, unethical and thievery. If the manager wants to make the kind of money these men have become accustom to making, let him start up his own company or get hired by a private company who might be willing to pay him anything he wants. (I doubt it.)
One argument that is always used is these salaries are needed to retain talent. Well after the economic upheaval of the recent months I do not think their talent is worth keeping. I will add a few examples: Enron, Global Crossing, a number of banks, a number of hedge funds, the US auto industry who have given away double digit marketshare for many years, and on and on it goes. What his name the former CEO of Home Depot who took his hundreds of millions of dollars for cutting market cap in half. I would have to start a blog of examplle of these theives who stole money from the public coiffures. They are sure lucky they do not live in communist China, where many of the managers love to do business.
In fact with the dismal success of so many of these talented individuals I think I myslef could do a better job than they. What you don't think I could take a company bankrupt. What you don't think I could cut the marketshare of an industry by 50%. You don't think I could make bad mortgages. You bet I can. And I could make fewer numbers of bad mortgages. Folks, I know one think about banking. There needs to be 5% cash reserves. I would double or triple that to 10 or 15% and make good home loans, and be responsible for my own loans, and make a profit. Oh, by the way, my own credit union, keep 14% cash reserves on hand. I will save another journal entry for what how I could do better than the automotive executives.
All said, a public company is not a money trough for management. A public company is not ca hecking account with an unlimited supply of blank checks for management.
I suggest to make public companies exactly what they are-a public holding. The pay and benefits these companies pay management is ridiculous, unethical and thievery. If the manager wants to make the kind of money these men have become accustom to making, let him start up his own company or get hired by a private company who might be willing to pay him anything he wants. (I doubt it.)
One argument that is always used is these salaries are needed to retain talent. Well after the economic upheaval of the recent months I do not think their talent is worth keeping. I will add a few examples: Enron, Global Crossing, a number of banks, a number of hedge funds, the US auto industry who have given away double digit marketshare for many years, and on and on it goes. What his name the former CEO of Home Depot who took his hundreds of millions of dollars for cutting market cap in half. I would have to start a blog of examplle of these theives who stole money from the public coiffures. They are sure lucky they do not live in communist China, where many of the managers love to do business.
In fact with the dismal success of so many of these talented individuals I think I myslef could do a better job than they. What you don't think I could take a company bankrupt. What you don't think I could cut the marketshare of an industry by 50%. You don't think I could make bad mortgages. You bet I can. And I could make fewer numbers of bad mortgages. Folks, I know one think about banking. There needs to be 5% cash reserves. I would double or triple that to 10 or 15% and make good home loans, and be responsible for my own loans, and make a profit. Oh, by the way, my own credit union, keep 14% cash reserves on hand. I will save another journal entry for what how I could do better than the automotive executives.
Radical tax and infrastructure restructuring
These ideas should have been implemented years ago. Michigan has been in a state of economic catastrophy for a number of years with the migration of manufacturing jobs overseas. Our leadership is failed leadership going back many years (before Governor Grandholm).
1) Eliminate business tax and replace it with realistic service fees. We are in a state of emergency and need to give business all the natural advantage it can have. This would be a net reduction in the cost of doing business in the state, not a shell game like Engler's property tax to sales tax swap.
2) A goal of allowing Michigan residents the opportunity of sometime in their life to actually own their house. Today as it stands even when our houses are paid for, we basically make a house payment to the state until we die.
3) User taxes to replace as much revenue sharing as possible. Number one, tolls for our roads.
4) Revamp of the educational system. Folks, public education is not localized anymore. It is under state and local control by their mandates. District consolidation and realistic benefits need to be implemented as a start. The negotiated benefits of the auto industry cannot be the standard for union workers (MEA, NEA) any more. THE STATE CANNOT AFFORD THESE BENEFITS JUST AS MUCH AS THE AUTO INDUSTRY CANNOT. OH, PLEASE DON'T FORGET THE MANAGEMENT BENEFITS OF THESE INSTITUTIONS-RIDUCULOUS. WE NEED CUTS ACROSS THE BOARD, FROM TOP TO THE BOTTOM. As the Japanese use to do (maybe continue to do) first cut management, second cut management, third cut managment. After management has been cut three times, there will be a period of time where the workers will see management is serious about the survival of the company and be more apt to help.
These are drastic suggestions for drastic times. Incrementalism will be necessary in some cases, but not all. And the alternate is not to do nothing. In the current recession it is not unreasonable to expect a minimum 25% reduction in revenue. I think our goal should be to maximize the number of folks with employment using percentage decrease of pay, lengthening of tenure time (minimum time for maximum pay-make it reasonable as it reflects in other industries) hour reductions, time off without pay, elimination of overtime, true increase of efficiency, versus the entire loss of jobs. These job losses equate to many families with children with loss income. Our leaders have a very serious responsibility. Unfortunately many of them have failed and are largely responsible for the economic predicament we find ourselves in.
1) Eliminate business tax and replace it with realistic service fees. We are in a state of emergency and need to give business all the natural advantage it can have. This would be a net reduction in the cost of doing business in the state, not a shell game like Engler's property tax to sales tax swap.
2) A goal of allowing Michigan residents the opportunity of sometime in their life to actually own their house. Today as it stands even when our houses are paid for, we basically make a house payment to the state until we die.
3) User taxes to replace as much revenue sharing as possible. Number one, tolls for our roads.
4) Revamp of the educational system. Folks, public education is not localized anymore. It is under state and local control by their mandates. District consolidation and realistic benefits need to be implemented as a start. The negotiated benefits of the auto industry cannot be the standard for union workers (MEA, NEA) any more. THE STATE CANNOT AFFORD THESE BENEFITS JUST AS MUCH AS THE AUTO INDUSTRY CANNOT. OH, PLEASE DON'T FORGET THE MANAGEMENT BENEFITS OF THESE INSTITUTIONS-RIDUCULOUS. WE NEED CUTS ACROSS THE BOARD, FROM TOP TO THE BOTTOM. As the Japanese use to do (maybe continue to do) first cut management, second cut management, third cut managment. After management has been cut three times, there will be a period of time where the workers will see management is serious about the survival of the company and be more apt to help.
These are drastic suggestions for drastic times. Incrementalism will be necessary in some cases, but not all. And the alternate is not to do nothing. In the current recession it is not unreasonable to expect a minimum 25% reduction in revenue. I think our goal should be to maximize the number of folks with employment using percentage decrease of pay, lengthening of tenure time (minimum time for maximum pay-make it reasonable as it reflects in other industries) hour reductions, time off without pay, elimination of overtime, true increase of efficiency, versus the entire loss of jobs. These job losses equate to many families with children with loss income. Our leaders have a very serious responsibility. Unfortunately many of them have failed and are largely responsible for the economic predicament we find ourselves in.
Solar Energy in Michigan-Not!
Governor Grandholm has espoused Michigan as the Green Center of America. I would say when it comes to solar energy she is a day late and a dollar short and a few mile off. Toledo, Ohio with its past glass manufacturing history has dozen of solar panel manufacturers already in business right over the border.
Introduction
The purpose of this blog is to communicate my thoughts, interests and perspective on the entire spectrum of life. I call this action of communication "journaliving". I came up with the word because my other thoughts for a name for the blog were already taken and I was forced to get creative. I am not the most creative person. I would prefer to keep my name anonymous, so I will call myself first name "Journal", last name "Living". Now you can call me "Journal", or you can call me "JL" or you can call me "Mr. Living", but you don't have to call me "Living" (like you can call me Ray and you can call me Jay and you can call me RayJay, but you don't have to call me Johnson.)
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