It is no secret a company must be able to compete in order to survive. If it can compete with competitors it will live to see another day. If it cannot compete for any reason, it will not survive.
It is a popular idea in circles, unions pitting employees against corporations . Employees want their cake and to eat it too. The company wants the same cake and is equally hungry.
If the company and employees come to an agreement somewhere in the middle where they each get a piece, both are satisfied and the focus can remain on staying competitive.
Unions however, make it difficult for a company to stay focused on being competitive. The Unions who are devoting so much to protecting their members are biting the hands feeding them. Biting so deep, it brings the company to their knees.
United Air, Union Reach Agreement, Associated Press, May 31, 2005; United Airlines and the machinists union came to a verbal agreement. United asked the union for the second time in 2 ½ years to take reductions in pay and benefits. The Union fought hard against this, however
“Like the machinists, the mechanics' union had authorized a strike if the vote had failed…. But the union's leadership told them a "No" vote this time could produce worse terms than the ones negotiated… but knew they ran the risk of putting United out of business with a vote rejection and strike.”
United has been on the verge of being sold in pieces to payoff the creditors for those 2 ½ years. International Association of Machinists and Aerospace Workers have known this all along. Yet they continued to push until the last possible minute.
The Union is doing their members a disservice. A union members believes there job is secure as long as the union has the power of forced negotiation with the airline. If my employer was going through similar financial difficulties as United, I would have been looking for a new job some time during the last 2 ½ years. When questions of solvency arise, each of the baggage handlers and customer service agents who would be effected by a company meltdown should begin looking out for their own welfare. This should mean looking for plan B, a new job. The same goes for investors in United Airlines. If I had money invested in United right now, I would get out and cut my losses. A company bordering bankruptcy has problems to deal with, but not with my money. Free markets allow freedom of choice. Take your skill and money from the risky United and into more stable Southwest (no unions).
The union membership has this false sense of security their jobs will be there tomorrow. Therefore many of them do not look for new work. If United falls, the Union can pull a Pontius Pilate and wash their hands of the cause of the bankruptcy. They can enrage their employees into believing it was wholly the industries fault and the union was just looking out for the general welfare of the worker.
New airlines without unions such as Southwest are doing well because they can make quicker decisions. Their enterprise is fluid. They can stay competitive. The old guard of airlines, United, US Air.. will go the way of the Dodo-Eastern Airlines with their top heavy organizations.
If United does fall, all those union workers may be brainwashed into anger at corporate fat cats. They must not realize poor people do not employee other people. I thank fat-cat business owners for every time they post an open position. Organized labor does not share my opinion.
Tuesday, May 31, 2005
Wednesday, May 25, 2005
The Burgeoning Welfare Industry
The Associated Press reported on Wednesday, May 25, about the Fitch Ratings company lowering the credit rating for GM to a 'junk' status.
This decision will likely make it more expensive for GM to borrow money. This will effect the competitiveness of the automaker.
Fitch Raings cites reasons for their decision;
1) Soaring health care costs
2) Higher gas prices
3) Loss of market share to Asian competitors.
B Craig Huton of Gimme Credit cites a a more general causation;
Inability for GM to negotiate concessions with the UAW to reduce "structural costs"
These "structural costs" may be comprehensive, including the soaring health care costs Fitch Ratings had suggested, however I believe it goes deeper then this. The UAW negotiates more then health benefits. Pension, wages, number of workers at each plant are also negotiated by the UAW.
Through higher then market driven wages for the union employees, the UAW itself could be seeding the destruction of GM, Ford, Chrysler and other American companies employing thousands of American and overseas workers.
This may seem to be an extreme synopsis for the future of American Auto Manufacturers, however the possiblity is real.
Popular are the products of the 'Big Three' (I own a Ford), however it is apparent their popularity is waning. Competition is changing things. This is good for customers of all automobiles. It is only bad for GM, Ford, and Chrysler in the short term. If they respond to the competition with 1) increased quality of products, 2) lower relative costs, 3) reduction in their own expenses (increasing profitability) 4) continual adapting of marketing, they will be more competitiv. This will be good for the three in the long run.
The UAW has a key role in this issue. The unions have the ability to make or brake American car manufacturers. Historically the UAW has chosen short term gains for the worker over long term solvency of the companies to which their members work. Bad choice. If a company falls flat, the members are out of work.
I remember talking to my uncle about his work at the Ford plant on the South East side of Indianapolis just West of Loop 465. He described the work in more detail, but the work itself is not as significant as the resulting backlash received from fellow union members when finishing his job early. He was told to slow down in fear of making the other union workers look bad. If he completed his alotment of work early, he was made to sit idle at his station. He was not allowed to do any more work. This was in the 1980's.
An example of mismanagement is told well by Dr. Jim Windle, a Professor in the College of Technology at Purdue University. I asked him for an example of the GM/UAW problem consistent with the theme. Doc Windle responded, "They [General Motors] have always had too many people and too much capacity. In addition, neither their people nor their plants have been flexible enough to produce to customer demands...The Fairfax, Kansas plant was rebuilt at the cost of one-billion dollars to produce 200,000 Pontiac Grand Ams per year. They [GM] could only sell 100,000 per year. Unfortunately, the plant was not flexible enough to produce any other model. They just cannot get it right!"
These mistakes in capacity, driven in part by UAW negotiating, has contributed directly to todays credit rating problems for GM. When one consideres millions of automobiles being produced by our automakers, even $10 of cost per unit due to decreased effeciency in the plant will mean an incredible amount of lost revenue and reduction in competitiveness. In the example above, half the capacity was needed at the Fairfax plant. For argument only, if capital costs were overspent by $500 million, these costs would have to be absorbed by the price tag of each Grand Am, or by other GM products. Additional costs would be the salaries of additional employees the UAW required of GM to staff the plant. Health care costs for the additional workers, HR costs, even the retooling/re-engineering of the plant itself to accomodate additional union workers.
Anyone say what I am seeing?
The Fairfax currently builds Malibu and Malibu Max for Chevrolet. The plant is scheduled to begin production of the Saturn AURA in 2006. "GM is reportedly investing $200 million to expand the plant to build the AURA. An additional 300 workers are expected to be needed to help build the new Saturn," according to PlantSaturnFans.com 'AURA Concept Unveiled to Workers at GM's Fairfax' , February 26, 2005.
How many of these workers will be sitting idle with an hour left in their shift?
MoreThanCorn sees the history of union decisions. After a company hires more union workers then necessary at a tremendous salary, these same workers will go on strike when the company has to make changes in order to stay profitable. The auto industry is becoming a welfare industry. The ones to suffer would first be the union workers when they lose their jobs because the plant closes. The long run benefactors will be the competitive market. It would have shed an old dinosaur who cannot adapt to the changing weather.
How many more years will GM be able to do business with their handicap, the UAW forcing changes in business decisions? The UAW may have great intentions. I just can not imagine any of them being educated in economies of scale.
This decision will likely make it more expensive for GM to borrow money. This will effect the competitiveness of the automaker.
Fitch Raings cites reasons for their decision;
1) Soaring health care costs
2) Higher gas prices
3) Loss of market share to Asian competitors.
B Craig Huton of Gimme Credit cites a a more general causation;
Inability for GM to negotiate concessions with the UAW to reduce "structural costs"
These "structural costs" may be comprehensive, including the soaring health care costs Fitch Ratings had suggested, however I believe it goes deeper then this. The UAW negotiates more then health benefits. Pension, wages, number of workers at each plant are also negotiated by the UAW.
Through higher then market driven wages for the union employees, the UAW itself could be seeding the destruction of GM, Ford, Chrysler and other American companies employing thousands of American and overseas workers.
This may seem to be an extreme synopsis for the future of American Auto Manufacturers, however the possiblity is real.
Popular are the products of the 'Big Three' (I own a Ford), however it is apparent their popularity is waning. Competition is changing things. This is good for customers of all automobiles. It is only bad for GM, Ford, and Chrysler in the short term. If they respond to the competition with 1) increased quality of products, 2) lower relative costs, 3) reduction in their own expenses (increasing profitability) 4) continual adapting of marketing, they will be more competitiv. This will be good for the three in the long run.
The UAW has a key role in this issue. The unions have the ability to make or brake American car manufacturers. Historically the UAW has chosen short term gains for the worker over long term solvency of the companies to which their members work. Bad choice. If a company falls flat, the members are out of work.
I remember talking to my uncle about his work at the Ford plant on the South East side of Indianapolis just West of Loop 465. He described the work in more detail, but the work itself is not as significant as the resulting backlash received from fellow union members when finishing his job early. He was told to slow down in fear of making the other union workers look bad. If he completed his alotment of work early, he was made to sit idle at his station. He was not allowed to do any more work. This was in the 1980's.
An example of mismanagement is told well by Dr. Jim Windle, a Professor in the College of Technology at Purdue University. I asked him for an example of the GM/UAW problem consistent with the theme. Doc Windle responded, "They [General Motors] have always had too many people and too much capacity. In addition, neither their people nor their plants have been flexible enough to produce to customer demands...The Fairfax, Kansas plant was rebuilt at the cost of one-billion dollars to produce 200,000 Pontiac Grand Ams per year. They [GM] could only sell 100,000 per year. Unfortunately, the plant was not flexible enough to produce any other model. They just cannot get it right!"
These mistakes in capacity, driven in part by UAW negotiating, has contributed directly to todays credit rating problems for GM. When one consideres millions of automobiles being produced by our automakers, even $10 of cost per unit due to decreased effeciency in the plant will mean an incredible amount of lost revenue and reduction in competitiveness. In the example above, half the capacity was needed at the Fairfax plant. For argument only, if capital costs were overspent by $500 million, these costs would have to be absorbed by the price tag of each Grand Am, or by other GM products. Additional costs would be the salaries of additional employees the UAW required of GM to staff the plant. Health care costs for the additional workers, HR costs, even the retooling/re-engineering of the plant itself to accomodate additional union workers.
Anyone say what I am seeing?
The Fairfax currently builds Malibu and Malibu Max for Chevrolet. The plant is scheduled to begin production of the Saturn AURA in 2006. "GM is reportedly investing $200 million to expand the plant to build the AURA. An additional 300 workers are expected to be needed to help build the new Saturn," according to PlantSaturnFans.com 'AURA Concept Unveiled to Workers at GM's Fairfax' , February 26, 2005.
How many of these workers will be sitting idle with an hour left in their shift?
MoreThanCorn sees the history of union decisions. After a company hires more union workers then necessary at a tremendous salary, these same workers will go on strike when the company has to make changes in order to stay profitable. The auto industry is becoming a welfare industry. The ones to suffer would first be the union workers when they lose their jobs because the plant closes. The long run benefactors will be the competitive market. It would have shed an old dinosaur who cannot adapt to the changing weather.
How many more years will GM be able to do business with their handicap, the UAW forcing changes in business decisions? The UAW may have great intentions. I just can not imagine any of them being educated in economies of scale.
Tuesday, May 24, 2005
P. Diddy Daddy
CNN reported, the ex-girlfriend of P. Diddy was taking him to court to increase the child support checks from $5k to $21,782. Not per year, per month. The suit claims P. Diddy is not taking care of his son. http://www.cnn.com/2005/SHOWBIZ/Music/05/24/people.diddysupport.ap/index.html
Puff replies to this accusation with... "I do take care of my child to my fullest, that's something that should be rewarded..."
Per the CNN article, P. Diddy also pays child support to his girlfriend, Kim Porter, the mother of his second child, Christian, who went to court seeking more money when they were estranged.
Although P. Diddy claimed Hylton-Brim was driven by "greed," he also said their relationship was good. "I've forgiven her on it, but I'm not going to let up on it."
It appears Puff-The-Magic's problems may have started, not with greed of ex's, but his personal choices. He has two children out of marriage. Yes, it his his choice. However his selfishness will contribute to both of his children having difficulties as they get older.
In the kid's head, "Dad is a superstar, Mom gets pregnant, mom and dad do not love each other, mom wants Dad to pay more because $60k/year just does not cut it anymore. Dad pushes back, mom hires a lawyer, Dad pays $140k/year.
The pressures of growing up are plenty under relatively ideal conditions. A selfish-superstar dad + no marriage vows + greedy mom(s) = child with emotional problems.
Puff replies to this accusation with... "I do take care of my child to my fullest, that's something that should be rewarded..."
Per the CNN article, P. Diddy also pays child support to his girlfriend, Kim Porter, the mother of his second child, Christian, who went to court seeking more money when they were estranged.
Although P. Diddy claimed Hylton-Brim was driven by "greed," he also said their relationship was good. "I've forgiven her on it, but I'm not going to let up on it."
It appears Puff-The-Magic's problems may have started, not with greed of ex's, but his personal choices. He has two children out of marriage. Yes, it his his choice. However his selfishness will contribute to both of his children having difficulties as they get older.
In the kid's head, "Dad is a superstar, Mom gets pregnant, mom and dad do not love each other, mom wants Dad to pay more because $60k/year just does not cut it anymore. Dad pushes back, mom hires a lawyer, Dad pays $140k/year.
The pressures of growing up are plenty under relatively ideal conditions. A selfish-superstar dad + no marriage vows + greedy mom(s) = child with emotional problems.
Saturday, May 21, 2005
Economists Vote on Social Security Private Accounts
The Cato Institute has compiled a list of 450 Economists from Harvard to Ball State University and private practice Economists from the entire nation. All these economists support Social Security Choice as the best way to ensure solvency for the system in the future.
Milton Friedman is one of the economists on the list who supports private accounts.
Read the article; http://www.socialsecurity.org/press/releases/05-11-05r.html
Milton Friedman is one of the economists on the list who supports private accounts.
Read the article; http://www.socialsecurity.org/press/releases/05-11-05r.html
Friday, May 20, 2005
First Successful Opposition Rally in Cuba!
Per an article posted by the Associated Press today,
HAVANA — With shouts of "Freedom" and the singing of the Cuban national anthem, more than 200 people on Friday opened a rare opposition assembly in communist Cuba, uninterrupted by authorities...
...Martha Beatriz Roque (search), the meeting's lead organizer and a former political prisoner who attempted a similar gathering nine years ago, called it "a point of departure" for future work.
"There will be a before and after for May 20 in Cuba," Roque said, claiming it was the first such gathering in Fidel Castro's (search) 46 years of communist rule. "This is a triumph for all the opposition."
"This is a really nice surprise," said the veteran activist Vladimiro Roca. "My predictions were not realized. I didn't think the government would allow it to happen."
Seated in rows of plastic chairs bought with donations from exile groups, the delegates cheered as organizers played an audiotaped message from President Bush;
"I have a message to those assembling today to protest in Cuba: As you struggled for the freedom of your country, the American people stand with you," Bush said in his traditional May 20 speech recognizing Cuban Independence Day. "Viva Bush" or "Long Live Bush," some delegates shouted in contrast with cries heard earlier in the meeting of "Abajo Fidel" or "Down with Fidel."
HAVANA — With shouts of "Freedom" and the singing of the Cuban national anthem, more than 200 people on Friday opened a rare opposition assembly in communist Cuba, uninterrupted by authorities...
...Martha Beatriz Roque (search), the meeting's lead organizer and a former political prisoner who attempted a similar gathering nine years ago, called it "a point of departure" for future work.
"There will be a before and after for May 20 in Cuba," Roque said, claiming it was the first such gathering in Fidel Castro's (search) 46 years of communist rule. "This is a triumph for all the opposition."
"This is a really nice surprise," said the veteran activist Vladimiro Roca. "My predictions were not realized. I didn't think the government would allow it to happen."
Seated in rows of plastic chairs bought with donations from exile groups, the delegates cheered as organizers played an audiotaped message from President Bush;
"I have a message to those assembling today to protest in Cuba: As you struggled for the freedom of your country, the American people stand with you," Bush said in his traditional May 20 speech recognizing Cuban Independence Day. "Viva Bush" or "Long Live Bush," some delegates shouted in contrast with cries heard earlier in the meeting of "Abajo Fidel" or "Down with Fidel."
Thursday, May 19, 2005
Your own investigation into Ward Churchill
Ward Churchill, the Professor of Ethnic Studies at the University of Colorado at Boulder, claims to be a member of an Indiana tribe. Mr Churchill may have been building a career, using as one pillar, his Indian ancestry.
It is reported the keetoowah Indiana Tribe gave Ward Churchill an “associate membership” prior to 1996 when the associate memberships were revoked due to “abuse” according to the tribe. President Bill Clinton has an associate membership to the Keetoowah tribe and may be just as Indian as Ward Churchill.
It would be interesting to know what other individuals interviewed for the Assistant Professorship position Mr Churchill was granted in 1990. At some point, those who hired him as professor made a judgement about Mr. Churchill and the others interviewing and decided Mr. Churchill was more qualified, or possibly represented something the university wanted at the time. Having an Indian professor sure looked nice for the university. Who was passed up for this post in favor of Ward Churchill? I hope these people come forward soon.
Ward Churchill Exploits Indians
By David YeagleyFrontPageMagazine.com February 28, 2005
(excerpts)
“…Ironically, today, the Cherokee Nation has no blood quantum requirements for membership. To be recognized as a member, one proves genetic relations with someone who was in fact enrolled during the 1899-1906 census. That is the sole requirement. This is why there are so many “white” people who are members of the Cherokee Nation today, and why many real Indians are not. It was all about law and land.
Interestingly, Ward Churchill never sought membership in the Cherokee Nation. Though he claims his mother was Cherokee, she apparently wasn’t on the 1899-1906 rolls. The Keetoowah Band of Cherokee however, a separate and federally recognized group (as of 1950), offered Churchill a chance to make good his claim. Although their membership requirement was enrollment on the 1949 lists, which Churchill and family apparently weren’t, the Keetoowah were issuing “honorary” tribal membership cards in the 1990’s, and Churchill got his then, the same year Bill Clinton got one. John Ross, chief at the time, later decided the program was inadvisable, and in 1996, all such memberships were revoked, and the records were destroyed. This, according to Keetoowah tribal employee Marilyn Craig, is the state of affairs.”
Churchill's membership in tribe honorary only
By Stuart Steers,Rocky Mountain News February 4, 2005
“The former chairman of the Keetoowah band of Cherokee Indians says University of Colorado professor Ward Churchill was given an honorary membership that required no proof of Cherokee heritage.
John Ross led the tribe for several years in the 1990s. He says the Keetoowah established an "associate member" program to recognize friends of the tribe.
"If somebody helped out in a certain way, to honor them they'd give them an associate membership," Ross said Thursday. "There were 300 or 400 associate members."
Former President Clinton also was given an honorary membership in the tribe.
Ward Churchill Information;
Everything known about Ward Churchill to date seems to be at Answers.com
http://www.answers.com/topic/ward-churchill
It is reported the keetoowah Indiana Tribe gave Ward Churchill an “associate membership” prior to 1996 when the associate memberships were revoked due to “abuse” according to the tribe. President Bill Clinton has an associate membership to the Keetoowah tribe and may be just as Indian as Ward Churchill.
It would be interesting to know what other individuals interviewed for the Assistant Professorship position Mr Churchill was granted in 1990. At some point, those who hired him as professor made a judgement about Mr. Churchill and the others interviewing and decided Mr. Churchill was more qualified, or possibly represented something the university wanted at the time. Having an Indian professor sure looked nice for the university. Who was passed up for this post in favor of Ward Churchill? I hope these people come forward soon.
Ward Churchill Exploits Indians
By David YeagleyFrontPageMagazine.com February 28, 2005
(excerpts)
“…Ironically, today, the Cherokee Nation has no blood quantum requirements for membership. To be recognized as a member, one proves genetic relations with someone who was in fact enrolled during the 1899-1906 census. That is the sole requirement. This is why there are so many “white” people who are members of the Cherokee Nation today, and why many real Indians are not. It was all about law and land.
Interestingly, Ward Churchill never sought membership in the Cherokee Nation. Though he claims his mother was Cherokee, she apparently wasn’t on the 1899-1906 rolls. The Keetoowah Band of Cherokee however, a separate and federally recognized group (as of 1950), offered Churchill a chance to make good his claim. Although their membership requirement was enrollment on the 1949 lists, which Churchill and family apparently weren’t, the Keetoowah were issuing “honorary” tribal membership cards in the 1990’s, and Churchill got his then, the same year Bill Clinton got one. John Ross, chief at the time, later decided the program was inadvisable, and in 1996, all such memberships were revoked, and the records were destroyed. This, according to Keetoowah tribal employee Marilyn Craig, is the state of affairs.”
Churchill's membership in tribe honorary only
By Stuart Steers,Rocky Mountain News February 4, 2005
“The former chairman of the Keetoowah band of Cherokee Indians says University of Colorado professor Ward Churchill was given an honorary membership that required no proof of Cherokee heritage.
John Ross led the tribe for several years in the 1990s. He says the Keetoowah established an "associate member" program to recognize friends of the tribe.
"If somebody helped out in a certain way, to honor them they'd give them an associate membership," Ross said Thursday. "There were 300 or 400 associate members."
Former President Clinton also was given an honorary membership in the tribe.
Ward Churchill Information;
Everything known about Ward Churchill to date seems to be at Answers.com
http://www.answers.com/topic/ward-churchill
Tuesday, May 17, 2005
Ward Churchill Investigation
Ward Churchill, University of Colorado, Boulder professor who had compared 9/11 victims to Nazis calling them "Little Eichmann's" in an essay, is being investigating for charges of plagiarism and charges of fraudulent Indian geneological claims.
Read;
http://news.yahoo.com/s/ap/20050517/ap_on_re_us/embattled_professor
The article quotes Churchill's attorney, David Lane (segment of article);
In his response to the plagiarism allegations, Lane said Churchill in one instance simply took articles written by other people and put them together for a chapter of one book, which Churchill did not take credit for.
"His name does not appear as the author of the piece. He was asked to edit it, and he did. He checked for typos, punctuation, grammar, those type of things. He never claims himself as the author," Lane said. "That is not plagiarism."
I would like to see the articles or chapters for myself. From what I remember in college, if we used 4 or more consecutive words from another work and used it as our own, it could be considered a plagarized piece. This may just be a plagarism rule Purdue University laid down for our research papers and homework. However I believe the true definition of plagarism goes much further. It is not just the words used, but the thoughts and ideas of someone else you are trying to pass off as your own.
There is some grey area in this and the committee at CU investigating this has some proving to do for charges to Professor Churchill.
MoreThanCorn is of the opinion, if an article is written with the thoughts of someone else included, they must be cited and given credit on the same page or within the same work. The credit must be very deliberate. Simply leaving out the names from which ideas are gathered and collaging the ideas into one work would be plagiarism by default.
There is another copyright issue in which Professor Churchill is involved;
Read;
http://news4colorado.com/topstories/local_story_055200531.html and also view the CBS4 Denver investigation and report on video. Impressive research by Journalist Raj Chohan.
Paintings Mr Churchill sold as his own are mirror images of deceased artist Thomas E. Mails.
Read the articles and keep your eyes/ears open, when you have enough evidence to confirm or refute, decide for yourself.
Read;
http://news.yahoo.com/s/ap/20050517/ap_on_re_us/embattled_professor
The article quotes Churchill's attorney, David Lane (segment of article);
In his response to the plagiarism allegations, Lane said Churchill in one instance simply took articles written by other people and put them together for a chapter of one book, which Churchill did not take credit for.
"His name does not appear as the author of the piece. He was asked to edit it, and he did. He checked for typos, punctuation, grammar, those type of things. He never claims himself as the author," Lane said. "That is not plagiarism."
I would like to see the articles or chapters for myself. From what I remember in college, if we used 4 or more consecutive words from another work and used it as our own, it could be considered a plagarized piece. This may just be a plagarism rule Purdue University laid down for our research papers and homework. However I believe the true definition of plagarism goes much further. It is not just the words used, but the thoughts and ideas of someone else you are trying to pass off as your own.
There is some grey area in this and the committee at CU investigating this has some proving to do for charges to Professor Churchill.
MoreThanCorn is of the opinion, if an article is written with the thoughts of someone else included, they must be cited and given credit on the same page or within the same work. The credit must be very deliberate. Simply leaving out the names from which ideas are gathered and collaging the ideas into one work would be plagiarism by default.
There is another copyright issue in which Professor Churchill is involved;
Read;
http://news4colorado.com/topstories/local_story_055200531.html and also view the CBS4 Denver investigation and report on video. Impressive research by Journalist Raj Chohan.
Paintings Mr Churchill sold as his own are mirror images of deceased artist Thomas E. Mails.
Read the articles and keep your eyes/ears open, when you have enough evidence to confirm or refute, decide for yourself.
Monday, May 16, 2005
Shameful Newsweek, Allegations on Koran Desecration
The recent Newsweek article quoted a nameless yet “knowledgeable U.S. government source” accusing interrogators for flushing a Koran down the toilet. The article has been a catalyst for demonstrations throughout the Middle East. In some demonstrations-turn riot, a dozen or more people have died and many more injured.
The writers, Michael Isikoff and John Barry did not substantiate the claims of their article by any other source.
While Newsweek should not be held to responsible the deaths and injuries at demonstrations, they should be held to responsible for gross negligence for their journalistic mistakes. Both Michael Isikoff and John Barry should be terminated and their ability to work in Journalism should be stripped. They wrote a biased article with no proof of their allegations. They work for a formerly respected publication. The two writers have brought discredit to Newsweek.
Newsweek has apologized for the mistakes. A little late.
A less obvious note to be made; Muslims took the desecration of the Koran very serious and were enraged by this article. While the actions of a few causing violence is pathetic, the anger of many is justified. Why should they not believe a media outlet from the United States, accusing the United States of desecrating the Koran. Those responsible for the violence should be held accountable like those in charge at Newsweek and the two writers.
I am impressed how Muslims are upset by even the possibility the Koran was disrespected. If the Bible was flushed down a toilet by some in this nation, the media may send shouts of praise through their columns and call it “exercising the right to free speech.”
The old media giants are giving the public more reason each day to let them go the way of the Dodo.
The writers, Michael Isikoff and John Barry did not substantiate the claims of their article by any other source.
While Newsweek should not be held to responsible the deaths and injuries at demonstrations, they should be held to responsible for gross negligence for their journalistic mistakes. Both Michael Isikoff and John Barry should be terminated and their ability to work in Journalism should be stripped. They wrote a biased article with no proof of their allegations. They work for a formerly respected publication. The two writers have brought discredit to Newsweek.
Newsweek has apologized for the mistakes. A little late.
A less obvious note to be made; Muslims took the desecration of the Koran very serious and were enraged by this article. While the actions of a few causing violence is pathetic, the anger of many is justified. Why should they not believe a media outlet from the United States, accusing the United States of desecrating the Koran. Those responsible for the violence should be held accountable like those in charge at Newsweek and the two writers.
I am impressed how Muslims are upset by even the possibility the Koran was disrespected. If the Bible was flushed down a toilet by some in this nation, the media may send shouts of praise through their columns and call it “exercising the right to free speech.”
The old media giants are giving the public more reason each day to let them go the way of the Dodo.
Friday, May 13, 2005
Reluctance to learn English, Handicap for Success
My employment includes many out bound and in bound phone conversations to and from customers for explanations, negotiations and problem solving.
I speak to 30-40 customers per day. Working in he state of Arizona I speak with about 10% Spanish speaking customers. When I get a Spanish speaking customer on the phone they will typically ask immediately for an interpreter for help. Generally I will attempt to discuss there issues with them in English and feel out how much they understand and their level of English competency.
About half the callers can converse in English well enough, their concerns are resolved promptly. With the remaining callers, an interpreter is needed to even handle the simplest conversation.
In general there is reluctance by the Spanish speaking population to converse in English whether they have the English speaking background or not. Even with some of those who speak English very well, their knee jerk reaction when calling is to ask for an interpreter. I understand in their situations they may feel more “comfortable” speaking in their native language.
In one instance, I was able to recruit a family member for interpreting in order resolve some problems for a customer. The conversation with the three of us was going well until the customer became frustrated and grabbed the phone from his family member and said in broken English, “If no Spanish, no more talk.” The customer hung up the phone.
MoreThanCorn feels this is a great concern for the futures of these Americans or non-Americans hoping to earn a living and improve their family’s lives. Whether it is a comfort issue or directly refusing to speak English, the careers and opportunities of many are stifled by the inability to communicate in our English.
Who is going to hire a Spanish only speaking employee? Farmers, Day-Laborers, Construction crews, Landscaping companies. These are all good jobs and many of them pay the employees well. However being paid $10/hour for the rest of your life is not acceptable. These folks are handicapping their “American Dream” by not learning English in earnest. These individuals and their families will not have improved lives until a bread-winner of the house is an English speaking individual and gets an education.
Often times the children of our customers know English very well. They will interpret for the parents. These children are probably being educated in our schools and English/Spanish speaking comes naturally when they hear both languages when they are at school or home. There is great potential in this observation.
Even if the “old dogs can not be taught new tricks”, their children will be fluent English speakers. The younger generations of these families will contribute to an upswing socio-economically as they are their peers find higher paying (often requiring higher education and skill sets) positions. This may seem oversimplified, but why complicate a simple subject with irrelevant detail?
I anticipate a boom in Hispanic middle class in the next 20-30 years, so long as young Hispanic-America are encouraged in this direction. Those Spanish speaking families who are new to the country or who refuse to adapt to American culture will be naturally handicapped for success. They will eventually be marginalized by their language barrier with employers and others. Those who do change, on average, will be successful. The bell curve of success for Hispanic Americans has the potential to move ever right and further positive.
Smart immigrants learn English. Who would hire a Spanish & English speaking, educated applicant? Smart employers.
I speak to 30-40 customers per day. Working in he state of Arizona I speak with about 10% Spanish speaking customers. When I get a Spanish speaking customer on the phone they will typically ask immediately for an interpreter for help. Generally I will attempt to discuss there issues with them in English and feel out how much they understand and their level of English competency.
About half the callers can converse in English well enough, their concerns are resolved promptly. With the remaining callers, an interpreter is needed to even handle the simplest conversation.
In general there is reluctance by the Spanish speaking population to converse in English whether they have the English speaking background or not. Even with some of those who speak English very well, their knee jerk reaction when calling is to ask for an interpreter. I understand in their situations they may feel more “comfortable” speaking in their native language.
In one instance, I was able to recruit a family member for interpreting in order resolve some problems for a customer. The conversation with the three of us was going well until the customer became frustrated and grabbed the phone from his family member and said in broken English, “If no Spanish, no more talk.” The customer hung up the phone.
MoreThanCorn feels this is a great concern for the futures of these Americans or non-Americans hoping to earn a living and improve their family’s lives. Whether it is a comfort issue or directly refusing to speak English, the careers and opportunities of many are stifled by the inability to communicate in our English.
Who is going to hire a Spanish only speaking employee? Farmers, Day-Laborers, Construction crews, Landscaping companies. These are all good jobs and many of them pay the employees well. However being paid $10/hour for the rest of your life is not acceptable. These folks are handicapping their “American Dream” by not learning English in earnest. These individuals and their families will not have improved lives until a bread-winner of the house is an English speaking individual and gets an education.
Often times the children of our customers know English very well. They will interpret for the parents. These children are probably being educated in our schools and English/Spanish speaking comes naturally when they hear both languages when they are at school or home. There is great potential in this observation.
Even if the “old dogs can not be taught new tricks”, their children will be fluent English speakers. The younger generations of these families will contribute to an upswing socio-economically as they are their peers find higher paying (often requiring higher education and skill sets) positions. This may seem oversimplified, but why complicate a simple subject with irrelevant detail?
I anticipate a boom in Hispanic middle class in the next 20-30 years, so long as young Hispanic-America are encouraged in this direction. Those Spanish speaking families who are new to the country or who refuse to adapt to American culture will be naturally handicapped for success. They will eventually be marginalized by their language barrier with employers and others. Those who do change, on average, will be successful. The bell curve of success for Hispanic Americans has the potential to move ever right and further positive.
Smart immigrants learn English. Who would hire a Spanish & English speaking, educated applicant? Smart employers.
Thursday, May 12, 2005
Commuting Commentary
Tuesday evening I commuted home from work on Valley Metro, the Phoenix bus system. Typically I have a book or magazine open, reading some and gauking out the window. The buses are a little loud when up to street speed and not much more quiet even when at idle at a stop light, but one can hear conversations in and around their half of the bus.
In the back half of the bus I sat a row in front of a young high school aged girl. As the Route 24 bus moved south on 24th St there is a section of road just to the West of Phoenix Sky Harbor Airport. The road makes wide sweaping S curves before heading straight again under the I-10 overpass.
As the bus entered the S curve we were at about a 40-45mph clip, which is normal for the area. Typically the driver on this route will let off the gas and probably dip just below 40mph to negoitate the S-curve. This evening though, the driver did not slow up a bit, but kept the bus driving in the 45mph range. A little roller coaster effect was felt and the G's on the body were similar to those when the bus comes to a rapid stop at a freshly changed intersection light.
Yes, I wanted the driver to slow down a bit, however I had faith the driver has probably driven this route 6 times already in the day and possibly 30-40 times per week. The young lady behind me was not so confident in the driver's skill. She too wanted him to slow down. She announced to the back half of the bus, "He better slow down." I turned my head around and responded to her with agreement, "I hope he does, at least a little."
Upon her awareness I recognized the concern she felt, apparently she had the green light (pun intended) to unload more of her thoughts on the driving habits of the Metro employee. "I don't want to get hurt. He better slow the 'f-bomb' down... If we get in a wreck I am going to sue this bus, this town, for a million dollars... I'll be rich."
What started as a mutually concerned dialogue between to complete strangers, quickly fell apart into a annoying monologue as I spun back around in my seat and stopped acknowledging she was in the seat behind me. The girl finally stopped talking. Either she got tired of hearing herself complain or maybe she looked around to see no one was paying any attention to her.
The above clip was an observation made. It was not surprising but it was disheartening to hear the first reaction of someone in this situation (age irrelevant), is the programmed, "sue".
In the back half of the bus I sat a row in front of a young high school aged girl. As the Route 24 bus moved south on 24th St there is a section of road just to the West of Phoenix Sky Harbor Airport. The road makes wide sweaping S curves before heading straight again under the I-10 overpass.
As the bus entered the S curve we were at about a 40-45mph clip, which is normal for the area. Typically the driver on this route will let off the gas and probably dip just below 40mph to negoitate the S-curve. This evening though, the driver did not slow up a bit, but kept the bus driving in the 45mph range. A little roller coaster effect was felt and the G's on the body were similar to those when the bus comes to a rapid stop at a freshly changed intersection light.
Yes, I wanted the driver to slow down a bit, however I had faith the driver has probably driven this route 6 times already in the day and possibly 30-40 times per week. The young lady behind me was not so confident in the driver's skill. She too wanted him to slow down. She announced to the back half of the bus, "He better slow down." I turned my head around and responded to her with agreement, "I hope he does, at least a little."
Upon her awareness I recognized the concern she felt, apparently she had the green light (pun intended) to unload more of her thoughts on the driving habits of the Metro employee. "I don't want to get hurt. He better slow the 'f-bomb' down... If we get in a wreck I am going to sue this bus, this town, for a million dollars... I'll be rich."
What started as a mutually concerned dialogue between to complete strangers, quickly fell apart into a annoying monologue as I spun back around in my seat and stopped acknowledging she was in the seat behind me. The girl finally stopped talking. Either she got tired of hearing herself complain or maybe she looked around to see no one was paying any attention to her.
The above clip was an observation made. It was not surprising but it was disheartening to hear the first reaction of someone in this situation (age irrelevant), is the programmed, "sue".
Wednesday, May 11, 2005
Journalist vs Journalist, Economic Boycott in AZ
For all readers viewing from outside the state of Arizona; The Arizona Republic and the Scottsdale Republic are both under the Arizona Republic banner. The Scottsdale Republic is just an additional section added to the Arizona Republic for Scottsdale residents.
It appears the Hispanic boycott was a failure in the eyes of the Arizona Republic and a success to the Scottsdale Republic.
Read the AZ Republic article; http://www.azcentral.com/arizonarepublic/local/articles/0511latinoboycott11.html
“Valley Hispanic boycott called a success”
“The articles starts with, “Organizers…say the day was a success... Hispanics gave up lunching out or shopping in support of the boycott.
The boycott was a response to… measures pending… that propose restrictions on undocumented immigrants.
‘It couldn;t have gone any better. It was more than I expected,’ said organizer Elias Bermudez.”
Then read the Scottsdale Republic article;
http://www.azcentral.com/community/scottsdale/articles/0511sr-boycott11Z8.html
“1-day Latino boycott appears to have failed”
“Representatives of golf courses, hotels and construction companies said their Hispanic workers turned up as usual.
‘They told me they needed the money,’ said Bob Hicks, whose company supplies concrete workers to builders.
“nothing that indicates an impact from the boycott.”
Ann Lane, public relations director at the Hyatt Regency Scottsdale Resort ‘suffered none of the effects…’ and added, ‘We understand where they were coming from.”
Again, these two articles are printed today and are in the same newspaper, just different sections. It looks like the results of the boycott are simply in the eyes of the be-writer.
MoreThanCorn feels the people in discussion are “illegal aliens” not “undocumented immigrants.” The author of the article, Yvette Armendariz is obviously sympathetic to the boycott due to her articles context. I think her credibility to be fair and objective are trumped by her comments and word usage.
It is possible Carol Sowers of the AZ Republic article is sympathetic to business or “white folk” however I do not see this in how she wrote her article.
It looks like Baja Fresh in downtown Phoenix was closed for the day due to not enough workers behind the counter. If this is a success event then I will be running for Governor next cycle.
It appears the Hispanic boycott was a failure in the eyes of the Arizona Republic and a success to the Scottsdale Republic.
Read the AZ Republic article; http://www.azcentral.com/arizonarepublic/local/articles/0511latinoboycott11.html
“Valley Hispanic boycott called a success”
“The articles starts with, “Organizers…say the day was a success... Hispanics gave up lunching out or shopping in support of the boycott.
The boycott was a response to… measures pending… that propose restrictions on undocumented immigrants.
‘It couldn;t have gone any better. It was more than I expected,’ said organizer Elias Bermudez.”
Then read the Scottsdale Republic article;
http://www.azcentral.com/community/scottsdale/articles/0511sr-boycott11Z8.html
“1-day Latino boycott appears to have failed”
“Representatives of golf courses, hotels and construction companies said their Hispanic workers turned up as usual.
‘They told me they needed the money,’ said Bob Hicks, whose company supplies concrete workers to builders.
“nothing that indicates an impact from the boycott.”
Ann Lane, public relations director at the Hyatt Regency Scottsdale Resort ‘suffered none of the effects…’ and added, ‘We understand where they were coming from.”
Again, these two articles are printed today and are in the same newspaper, just different sections. It looks like the results of the boycott are simply in the eyes of the be-writer.
MoreThanCorn feels the people in discussion are “illegal aliens” not “undocumented immigrants.” The author of the article, Yvette Armendariz is obviously sympathetic to the boycott due to her articles context. I think her credibility to be fair and objective are trumped by her comments and word usage.
It is possible Carol Sowers of the AZ Republic article is sympathetic to business or “white folk” however I do not see this in how she wrote her article.
It looks like Baja Fresh in downtown Phoenix was closed for the day due to not enough workers behind the counter. If this is a success event then I will be running for Governor next cycle.
Hispanic Boycott in Valley
There was some hype the last few days regarding an economic boycott by valley hispanics. The boycott organizers instructed hispanics on May 10, 05 to not work, not shop and come and protest. There were a few demonstrations in the valley and the local papers like the East Valley Tribune are reporting there were some workers who did not go to work yesterday.
These organizers are in a leadership position for these illegal/legal immigrants. A leader telling his supporters to not go and work? Not shop?
Firstly, any shopping for groceries and other necessities if not done on May 10, 2005, these same protestors will just catch up with shopping on the 11th or 12th. They still have to eat. Any shopping they would have done on any other items will also simply be purchased at a later time or a substitute will be purchased. Therefore these family's spending requirements and habits will not change, but the amount of money in their pocket book will change. A hispanic family, just like any other family, will continue to incur daily costs whether money is earned or not.
There is also a reasonable possibility there were employers yesterday you will not keep a protestor on their payroll due to not showing up to work. I would not blame the employer for making a decision like this. If the worker is able bodied and healthy, they have a responsibility to be at work. Some of the protestors may have lost their jobs yesterday. Probably to another immigrant waiting in line for work.
If they were looking to gain sympathy for their cause, they did not find any here. Better cut this post short...need to get ready for work.
These organizers are in a leadership position for these illegal/legal immigrants. A leader telling his supporters to not go and work? Not shop?
Firstly, any shopping for groceries and other necessities if not done on May 10, 2005, these same protestors will just catch up with shopping on the 11th or 12th. They still have to eat. Any shopping they would have done on any other items will also simply be purchased at a later time or a substitute will be purchased. Therefore these family's spending requirements and habits will not change, but the amount of money in their pocket book will change. A hispanic family, just like any other family, will continue to incur daily costs whether money is earned or not.
There is also a reasonable possibility there were employers yesterday you will not keep a protestor on their payroll due to not showing up to work. I would not blame the employer for making a decision like this. If the worker is able bodied and healthy, they have a responsibility to be at work. Some of the protestors may have lost their jobs yesterday. Probably to another immigrant waiting in line for work.
If they were looking to gain sympathy for their cause, they did not find any here. Better cut this post short...need to get ready for work.
Wednesday, May 04, 2005
Zarqawi to Bin Laden, "What were we supposed to accomplish?"
If authentic, the letter released yesterday supposedly intended to reach Zarqawi, the Al-Queada leader of Iraqi terrorism, may show weakening morale of terrorists and sub-par leadership in their ranks.
Yesterday, Charles Krauthammer who is a Washington Post Columnist and Fox News Analyst said something which is critical to understanding the “stage” in which Iraq is in currently.
He first reminisced of the nay-sayers who announced the invasion would not be successful, then Saddam could not be found, democracy cannot be fostered in the Middle East, elections would never be held, a parliament could never be established.Mr. Krauthammer went onto point to the self-proclaimed role of the terrorists has been a decidedly anti-American crusade, justifying their cause by attempting to remove the US by use of terror. This argument may have been hard to disprove until recently when the terrorists are mainly targeting Iraqi citizens, Iraqi police stations and recruits, Mosques and on and on….
Yet another conclusion could be drawn from Mr Krauthammer’s analysis. It is possible terrorists are losing credibility amongst their own. While already a minority, those who consider themselves part of this crusade may be questioning the legitimacy of the cause. As was suggested by Mr. Krauthammer, the terrorists announcing their intentions, however their actions do not follow suit. If the terrorists hold true to their voiced intentions, then as the US role is declining in the region so would the suicide car bombings. However in place of one US soldier not killed we are seeing 10 Iraqi policeman and citizens killed.
Yesterday, Charles Krauthammer who is a Washington Post Columnist and Fox News Analyst said something which is critical to understanding the “stage” in which Iraq is in currently.
He first reminisced of the nay-sayers who announced the invasion would not be successful, then Saddam could not be found, democracy cannot be fostered in the Middle East, elections would never be held, a parliament could never be established.Mr. Krauthammer went onto point to the self-proclaimed role of the terrorists has been a decidedly anti-American crusade, justifying their cause by attempting to remove the US by use of terror. This argument may have been hard to disprove until recently when the terrorists are mainly targeting Iraqi citizens, Iraqi police stations and recruits, Mosques and on and on….
Yet another conclusion could be drawn from Mr Krauthammer’s analysis. It is possible terrorists are losing credibility amongst their own. While already a minority, those who consider themselves part of this crusade may be questioning the legitimacy of the cause. As was suggested by Mr. Krauthammer, the terrorists announcing their intentions, however their actions do not follow suit. If the terrorists hold true to their voiced intentions, then as the US role is declining in the region so would the suicide car bombings. However in place of one US soldier not killed we are seeing 10 Iraqi policeman and citizens killed.
Pole; Iraq War Not Worth It
After glancing at the title of an article on MSNBC I hesitated before continuing to the article. I had to do a double take of the date it was posted. It was posted May 4, 2005 by Reuters @ 7:27am ET.
“Poll: Most Americans Say Iraq War Not Worth It”
This article seemed a little dated due to changes in Iraq…Democratic Elections, Parliament, steady hand-over of security from US troops to trained Iraqi forces. The article reminded me of negative portrayals (correct or incorrect) of the war in 2003 and 2004. The article had a picture of a US soldier protecting a recent car bomb site. MSNBC seems to be preaching more doom and gloom. The poll question(s) were not included in the article therefore I question their wording and intention. But I will comment on the possibility more Americans actually feel this war was not worth it.Here is a scenario where I would agree with the Poll. The war is not worth it;
1) In 1988, when Saddam Hussein supposedly gassed Kurds in Iraq where in just one, of a reported 40 gas attacks, 5000 people were killed. It has been found the Kurds actually died after gorging themselves on mustard seeds, not mustard gas.2) The tens of thousands buried in mass graves inside Iraq were actually taking part in a Jim Jones style mass suicide. Instead of Kool-Aid as the choice of death, they chose AK-47s as they dressed in their Sunday best.
In 1990 just before the first Gulf War, it has recently been reported the Kuwaitis had invited the Iraqi soldiers into the country for a festival. When the soldiers were well within the borders, the Kuwaitis began raping and killing the Iraqi soldiers and their own people just to blame it on Iraq so the US would get involved. The Kuwaitis had so much money from the oil industry, they decided to set fire to their oil wells to see how long it would take to put them out.
Of the many, multi-million dollar palaces Saddam supposedly had built with oil money which could have gone to his people, it has been discovered one of the palaces was divided up and housed the Baghdad Chamber of Commerce, the Iraqi Red Cross, and a couple non-for profits. A second was a shelter housing 2000 abused women. A third was a Band-Aid factory.Saddam never got the memo from the UN with the laundry list of rules he broke. Did someone confirm the receiving fax number?
In 2003 the US and allies invaded Iraq and were thwarted by the Republican Guard, Medina and the farmers with rocks and sticks. Casualties of our troops were very high similar to those on D-Day when thousands of troops per hour were killed. The Coalition forces were tossed from Baghdad like a salad.
Finally the Iraqi court trying Saddam in the near future clears him of all charges and the country of Iraq appoints Mr. Hussein as Director of the Iraqi Civil Rights Commission.I would then have to agree our American soldiers died in vain. But I would still have to convince a few thousand military families and a the relatives of the 200,000 or so Iraqis murdered by the regime over 30 years. Maybe I will leave this difficult job to Reuters.
“Poll: Most Americans Say Iraq War Not Worth It”
This article seemed a little dated due to changes in Iraq…Democratic Elections, Parliament, steady hand-over of security from US troops to trained Iraqi forces. The article reminded me of negative portrayals (correct or incorrect) of the war in 2003 and 2004. The article had a picture of a US soldier protecting a recent car bomb site. MSNBC seems to be preaching more doom and gloom. The poll question(s) were not included in the article therefore I question their wording and intention. But I will comment on the possibility more Americans actually feel this war was not worth it.Here is a scenario where I would agree with the Poll. The war is not worth it;
1) In 1988, when Saddam Hussein supposedly gassed Kurds in Iraq where in just one, of a reported 40 gas attacks, 5000 people were killed. It has been found the Kurds actually died after gorging themselves on mustard seeds, not mustard gas.2) The tens of thousands buried in mass graves inside Iraq were actually taking part in a Jim Jones style mass suicide. Instead of Kool-Aid as the choice of death, they chose AK-47s as they dressed in their Sunday best.
In 1990 just before the first Gulf War, it has recently been reported the Kuwaitis had invited the Iraqi soldiers into the country for a festival. When the soldiers were well within the borders, the Kuwaitis began raping and killing the Iraqi soldiers and their own people just to blame it on Iraq so the US would get involved. The Kuwaitis had so much money from the oil industry, they decided to set fire to their oil wells to see how long it would take to put them out.
Of the many, multi-million dollar palaces Saddam supposedly had built with oil money which could have gone to his people, it has been discovered one of the palaces was divided up and housed the Baghdad Chamber of Commerce, the Iraqi Red Cross, and a couple non-for profits. A second was a shelter housing 2000 abused women. A third was a Band-Aid factory.Saddam never got the memo from the UN with the laundry list of rules he broke. Did someone confirm the receiving fax number?
In 2003 the US and allies invaded Iraq and were thwarted by the Republican Guard, Medina and the farmers with rocks and sticks. Casualties of our troops were very high similar to those on D-Day when thousands of troops per hour were killed. The Coalition forces were tossed from Baghdad like a salad.
Finally the Iraqi court trying Saddam in the near future clears him of all charges and the country of Iraq appoints Mr. Hussein as Director of the Iraqi Civil Rights Commission.I would then have to agree our American soldiers died in vain. But I would still have to convince a few thousand military families and a the relatives of the 200,000 or so Iraqis murdered by the regime over 30 years. Maybe I will leave this difficult job to Reuters.
Tuesday, May 03, 2005
State of Congruence w/Heritage Foundation
As an addition to the MoreThenCorn post on March 6, 2005, "To Salvage Power, Syria Bends". MoreThenCorn felt the Syrian pullout from Lebanon was just too easy. Something just did not add up from aloof. The Damascus pull out of "forces", as Mr. Brookes suggests, may have remnants of Syria left to continue infecting Lebanese progress. He suggests the US and France should go to the UN and ask they step up to the plate to insure Syria is not creating it's own definition for pullout of forces.
Read the article by Peter Brookes of The Heritage Foundation, "Syria's Spy Lie"; http://www.heritage.org/Press/Commentary/ed050205a.cfm
Read the article by Peter Brookes of The Heritage Foundation, "Syria's Spy Lie"; http://www.heritage.org/Press/Commentary/ed050205a.cfm
Monday, May 02, 2005
The Self-fullfilled Prophecy of Economic News
Last week the The East Valley Tribune (Phoenix Suburbs) found it necessary to post as the top story of the day when the Dow dropped 122 points. As I read the paper in the morning in Tempe, AZ the NYSE had been open for 3 hours already and the market was already on a major rebound and to gain more then it had lost.
Fox News business headlines for Monday 05/02/05;-Oil Prices Fall Below $50-Manufacturing Activity, Hiring Slow in April-Construction Spending Hits Record High-Tyson Profit Falls on Trade Bans, Mad Cow-Morgan Stanley Board Backs CEO; Sharles Fall-Fed Expected to Raise Rates by Quarter-Point-Humana Profit Surges on Medicare Members-Avon Profit Up but Outlook Disappoints-Chevron Texaco Profit Surges-Archer Daniels Midland Profit Disappoints-Proctor & Gamble Profits Up, Outlook Hiked.
The bottom line here is no need to get ourselves in an uproar. For most of us, making investment decisions based on day to day headlines from any media outlet is silly. Newspapers and news services are not economists, they do not understand trends, they are journalists. They may interview economists or trend researchers however, in the interview the journalists may lack understanding of macroeconomics. They see one company faltering or one sector of the economy surging and it is an instant story, headline news.
I watch financial shows occasionally. Neil Cavuto from Fox News seems to have the ability to get the brightest and best in market experts. Commonly he may have 3-4 guests from the top brass of financial institutions. As often as not, all the guests will have conflicting viewpoints. They will each have plausible and believable arguments why the economy is preparing for a surge, preparing for a bust or preparing moderate growth (I think these experts like to say "lackluster"). While I enjoy the Cavuto, "Your World" and I do seem to learn each time I watch, I typically leave the show with more questions then answers.
I am not sure what one should take from this post.... For answers to investment or the market, "When in doubt, turn off the news."
Fox News business headlines for Monday 05/02/05;-Oil Prices Fall Below $50-Manufacturing Activity, Hiring Slow in April-Construction Spending Hits Record High-Tyson Profit Falls on Trade Bans, Mad Cow-Morgan Stanley Board Backs CEO; Sharles Fall-Fed Expected to Raise Rates by Quarter-Point-Humana Profit Surges on Medicare Members-Avon Profit Up but Outlook Disappoints-Chevron Texaco Profit Surges-Archer Daniels Midland Profit Disappoints-Proctor & Gamble Profits Up, Outlook Hiked.
The bottom line here is no need to get ourselves in an uproar. For most of us, making investment decisions based on day to day headlines from any media outlet is silly. Newspapers and news services are not economists, they do not understand trends, they are journalists. They may interview economists or trend researchers however, in the interview the journalists may lack understanding of macroeconomics. They see one company faltering or one sector of the economy surging and it is an instant story, headline news.
I watch financial shows occasionally. Neil Cavuto from Fox News seems to have the ability to get the brightest and best in market experts. Commonly he may have 3-4 guests from the top brass of financial institutions. As often as not, all the guests will have conflicting viewpoints. They will each have plausible and believable arguments why the economy is preparing for a surge, preparing for a bust or preparing moderate growth (I think these experts like to say "lackluster"). While I enjoy the Cavuto, "Your World" and I do seem to learn each time I watch, I typically leave the show with more questions then answers.
I am not sure what one should take from this post.... For answers to investment or the market, "When in doubt, turn off the news."
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