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marmar
marmar's Journal
marmar's Journal
May 2, 2013
NEWARK, N.J. (AP) — Two airplanes taxiing while preparing for takeoff at Newark Liberty International Airport clipped each other, leaving one of the planes with a portion of its left wing ripped away.
No one was injured when the planes touched around 7:30 p.m. Wednesday at one of the nation's busiest airports, Federal Aviation Administration officials said. A Scandinavian Airlines plane's left wing clipped the tail of a United Airlines plane while they were on a taxiway. Photos and video from the scene showed a significant portion of the left wing jaggedly torn off.
Scandinavian Airlines Flight 908, bound for Oslo, Norway, was directly behind ExpressJet Flight 4226, destined for Nashville, Tenn., on the taxiway and was turning right to get onto another taxiway when its wing clipped the ExpressJet plane's tail, officials said.
The ExpressJet plane was towed back to the gate, and the Scandinavian Airlines plane taxied back to the gate, where passengers disembarked, New York's WNBC-TV reported. ...................(more)
The complete piece is at: http://news.yahoo.com/2-airplanes-off-clip-nj-airport-022128494.html
Two taxiing planes clip each other at Newark Airport
NEWARK, N.J. (AP) — Two airplanes taxiing while preparing for takeoff at Newark Liberty International Airport clipped each other, leaving one of the planes with a portion of its left wing ripped away.
No one was injured when the planes touched around 7:30 p.m. Wednesday at one of the nation's busiest airports, Federal Aviation Administration officials said. A Scandinavian Airlines plane's left wing clipped the tail of a United Airlines plane while they were on a taxiway. Photos and video from the scene showed a significant portion of the left wing jaggedly torn off.
Scandinavian Airlines Flight 908, bound for Oslo, Norway, was directly behind ExpressJet Flight 4226, destined for Nashville, Tenn., on the taxiway and was turning right to get onto another taxiway when its wing clipped the ExpressJet plane's tail, officials said.
The ExpressJet plane was towed back to the gate, and the Scandinavian Airlines plane taxied back to the gate, where passengers disembarked, New York's WNBC-TV reported. ...................(more)
The complete piece is at: http://news.yahoo.com/2-airplanes-off-clip-nj-airport-022128494.html
May 2, 2013
A Story for May Day: The Fed, Apple, and Trickle-Down Economics
Wednesday, May 1, 2013
The Fed’s policy of keeping interest rates near zero is another form of trickle-down economics.
For evidence, look no further than Apple’s decision to borrow a whopping $17 billion and turn it over to its investors in the form of dividends and stock buy-backs.
Apple is already sitting on $145 billion. But with interest rates so low, it’s cheaper to borrow. This also lets Apple avoid U.S. taxes on its cash horde socked away overseas where taxes are lower.
Other big companies are doing much the same on a smaller scale. ...................(more)
The complete piece is at: http://robertreich.org/post/49368810890
Robert Reich: The Fed, Apple, and Trickle-Down Economics
A Story for May Day: The Fed, Apple, and Trickle-Down Economics
Wednesday, May 1, 2013
The Fed’s policy of keeping interest rates near zero is another form of trickle-down economics.
For evidence, look no further than Apple’s decision to borrow a whopping $17 billion and turn it over to its investors in the form of dividends and stock buy-backs.
Apple is already sitting on $145 billion. But with interest rates so low, it’s cheaper to borrow. This also lets Apple avoid U.S. taxes on its cash horde socked away overseas where taxes are lower.
Other big companies are doing much the same on a smaller scale. ...................(more)
The complete piece is at: http://robertreich.org/post/49368810890
May 2, 2013
Top economist Jeffrey Sachs says Wall Street is full of 'crooks' and hasn't changed since the financial crash
The IMF adviser also blamed 'a docile president, a docile White House and a docile regulatory system'
Monday 29 April 2013
(Independent UK) In a cutting attack on America's financial hub, one of the world's most respected economists has said Wall St is full of "crooks" and hasn't reformed its "pathological" culture since the financial crash.
Professor Jeffrey Sachs told a high-powered audience at the Philadelphia Federal Reserve earlier this month that the lack of reform was down to “a docile president, a docile White House and a docile regulatory system that absolutely can’t find its voice.”
Sachs, from Colombia University, has twice been named one of Time magazine’s 100 Most Influential People in the World, and is an adviser to the World Bank and IMF.
“What has been revealed, in my view, is prima facie criminal behavior,” he said.
“It’s financial fraud on a very large extent. There’s also a tremendous amount of insider trading - you can even watch when you are living in New York how that works.” ...........................(more)
The complete piece is at: http://www.independent.co.uk/news/world/americas/top-economist-jeffrey-sachs-says-wall-street-is-full-of-crooks-and-hasnt-changed-since-the-financial-crash-8594779.html
Jeffrey Sachs: Wall Street is full of 'crooks' and hasn't changed since the financial crash
Top economist Jeffrey Sachs says Wall Street is full of 'crooks' and hasn't changed since the financial crash
The IMF adviser also blamed 'a docile president, a docile White House and a docile regulatory system'
Monday 29 April 2013
(Independent UK) In a cutting attack on America's financial hub, one of the world's most respected economists has said Wall St is full of "crooks" and hasn't reformed its "pathological" culture since the financial crash.
Professor Jeffrey Sachs told a high-powered audience at the Philadelphia Federal Reserve earlier this month that the lack of reform was down to “a docile president, a docile White House and a docile regulatory system that absolutely can’t find its voice.”
Sachs, from Colombia University, has twice been named one of Time magazine’s 100 Most Influential People in the World, and is an adviser to the World Bank and IMF.
“What has been revealed, in my view, is prima facie criminal behavior,” he said.
“It’s financial fraud on a very large extent. There’s also a tremendous amount of insider trading - you can even watch when you are living in New York how that works.” ...........................(more)
The complete piece is at: http://www.independent.co.uk/news/world/americas/top-economist-jeffrey-sachs-says-wall-street-is-full-of-crooks-and-hasnt-changed-since-the-financial-crash-8594779.html
May 2, 2013
The economics of enough
from the Guardian UK:
The economics of enough
Dan O'Neill: It's time to abandon the pursuit of growth in wealthy nations and consider a new strategy – to improve quality of life without expanding consumption
It's been over five years since the global financial crisis began, and yet we are still no closer to ending it. George Akerlof, a Nobel Prize–winning economist, has provided a good analogy for the uncertainty facing economists. "It's as if a cat has climbed this huge tree—the cat of course is the crisis. My view is 'Oh my God, the cat's going to fall and I don't know what to do'." Nor is he alone in this uncertainty. The IMF's chief economist, Olivier Blanchard, warns: "We don't have a sense of our final destination."
The economics profession has lost its moorings. The traditional cure to our economic ills has always been growth. But now, despite the best efforts of all concerned, the UK economy refuses to grow. The economic tools that have been applied – lower interest rates, quantitative easing, and strict austerity – are failing. GDP in the UK is now 2% lower than when the crisis began.
In our new book, Enough Is Enough: Building a Sustainable Economy in a World of Finite Resources, Rob Dietz and I argue that it's time to abandon the pursuit of growth in wealthy nations and consider a new strategy – an economy of enough. Suppose that instead of chasing after more stuff, more jobs, more consumption, and more income, we aimed for enough stuff, enough jobs, enough consumption and enough income.
Abandoning the pursuit of growth may seem like a radical idea, but there's a strong case to be made for it. Economic growth is causing a number of global environmental problems, ranging from climate change to biodiversity loss. At the same time, economic growth is no longer improving people's lives in wealthy nations like the UK. To continue to pursue growth for growth's sake is simply irresponsible. ...................(more)
The complete piece is at: http://www.guardian.co.uk/business/economics-blog/2013/may/01/economics-of-enough
May 2, 2013
About two dozen constituents of Sen. Marco Rubio (R-Fla.) gathered on Wednesday to voice their discontent with his support for immigration reform, accusing him of selling out his tea party supporters.
"He was the tea party darling. Until he went to D.C. and played us," Christine Timmon, a tea party supporter, told local NBC affiliate WPTV outside the St. Lucie County Lincoln Day Dinner, a Republican fundraising event Rubio was attending.
Rubio and seven other senators in the bipartisan "gang of eight" introduced legislation last month that would ramp up border security and employer enforcement, but also provide a path to citizenship for undocumented immigrants and streamline the legal immigration process. Although a majority of Americans supports the basic elements of that plan, many Republicans don't, and Rubio has spent significant time over the past several months trying to assure conservatives the bill doesn't amount to "amnesty."
He and other senators are back in their home states this week during a congressional recess, but Rubio is continuing his attempt to reassure conservatives from there. Rubio said in an interview with Politico that he will not support the inclusion of Democratic-supported LGBT benefits in the immigration bill, and even told conservative radio host Mike Gallagher this week that he doesn't think the "gang of eight" legislation as written can pass the Republican-led House. ............(more)
The complete piece is at: http://www.huffingtonpost.com/2013/05/02/marco-rubio-protest-immigration_n_3200480.html
Teabaggers turn on Marco Rubio over immigration
About two dozen constituents of Sen. Marco Rubio (R-Fla.) gathered on Wednesday to voice their discontent with his support for immigration reform, accusing him of selling out his tea party supporters.
"He was the tea party darling. Until he went to D.C. and played us," Christine Timmon, a tea party supporter, told local NBC affiliate WPTV outside the St. Lucie County Lincoln Day Dinner, a Republican fundraising event Rubio was attending.
Rubio and seven other senators in the bipartisan "gang of eight" introduced legislation last month that would ramp up border security and employer enforcement, but also provide a path to citizenship for undocumented immigrants and streamline the legal immigration process. Although a majority of Americans supports the basic elements of that plan, many Republicans don't, and Rubio has spent significant time over the past several months trying to assure conservatives the bill doesn't amount to "amnesty."
He and other senators are back in their home states this week during a congressional recess, but Rubio is continuing his attempt to reassure conservatives from there. Rubio said in an interview with Politico that he will not support the inclusion of Democratic-supported LGBT benefits in the immigration bill, and even told conservative radio host Mike Gallagher this week that he doesn't think the "gang of eight" legislation as written can pass the Republican-led House. ............(more)
The complete piece is at: http://www.huffingtonpost.com/2013/05/02/marco-rubio-protest-immigration_n_3200480.html
May 2, 2013
Published on May 2, 2013
Millions took to the streets to take part in May 1 demonstrations around the globe. From union rallies to protests and clashes with police, the International Labor Day events drew attention to the issues of austerity, unemployment and workers rights. READ MORE: http://on.rt.com/uvup14
Worldwide Worker Woes: May Day clashes in Germany, Spain, Colombia, Chile
Published on May 2, 2013
Millions took to the streets to take part in May 1 demonstrations around the globe. From union rallies to protests and clashes with police, the International Labor Day events drew attention to the issues of austerity, unemployment and workers rights. READ MORE: http://on.rt.com/uvup14
May 2, 2013
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Published on May 2, 2013
Many US government officials are calling for tougher national security measures, in the wake of the deadly Boston bombings. But more than a decade of multi-billion-dollar surveillance, at the expense of civil liberties, has failed to prevent terror at home. Experts say Washington's security strategy has already cost far more than it's worth.
Big Bro Broken: Lavish surveillance shattered by Boston bombings
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Published on May 2, 2013
Many US government officials are calling for tougher national security measures, in the wake of the deadly Boston bombings. But more than a decade of multi-billion-dollar surveillance, at the expense of civil liberties, has failed to prevent terror at home. Experts say Washington's security strategy has already cost far more than it's worth.
May 2, 2013
Listen: http://rdwolff.com/content/economic-update-crisisindividual-lives
Economic updates of airline delays, minimum wages for tipped workers, global military spending, and profit-driven Bangladesh building collapse. Interview with Barbara Garson on new book, Down the Up Escalator. Comments on new coop restaurant, unemployment office blues, and risks of deflation.
Professor Richard Wolff's Economic Update: Crisis/Individual Lives (audio link)
Listen: http://rdwolff.com/content/economic-update-crisisindividual-lives
Economic updates of airline delays, minimum wages for tipped workers, global military spending, and profit-driven Bangladesh building collapse. Interview with Barbara Garson on new book, Down the Up Escalator. Comments on new coop restaurant, unemployment office blues, and risks of deflation.
May 2, 2013
Listen: http://rdwolff.com/content/economic-update-crisisindividual-lives
Economic updates of airline delays, minimum wages for tipped workers, global military spending, and profit-driven Bangladesh building collapse. Interview with Barbara Garson on new book, Down the Up Escalator. Comments on new coop restaurant, unemployment office blues, and risks of deflation.
Professor Richard Wolff's Economic Update: Crisis/Individual Lives (audio link)
Listen: http://rdwolff.com/content/economic-update-crisisindividual-lives
Economic updates of airline delays, minimum wages for tipped workers, global military spending, and profit-driven Bangladesh building collapse. Interview with Barbara Garson on new book, Down the Up Escalator. Comments on new coop restaurant, unemployment office blues, and risks of deflation.
May 2, 2013
from In These Times:
A Cronkite Moment for the War on Terror
Tom Brokaw states the glaring truth about the Boston bombings.
BY David Sirota
In 2008, the hysterical backlash to the above comment by Barack Obama's minister became a high-profile example of one of the most insidious rules in American politics: You are not allowed to honestly discuss the Central Intelligence Agency's concept of “blowback” without putting yourself at risk of being deemed a traitor to country.
Now, five years later, with America having killed thousands of Muslim civilians in its drone strikes and wars, that rule is thankfully being challenged—and not by someone who is so easily smeared. Instead, the apostate is one of this epoch's most revered journalists—and because of that, we will see whether this country is mature enough to face one of its biggest national security quandaries.
This is the news from Tom Brokaw's appearance on “Meet the Press” last Sunday. Discussing revelations that the bombing suspects may be connected to Muslim fundamentalism, he said:
As one of the establishment's most venerated voices, Brokaw is not prone to radical statements. But in a nation that often avoids acknowledging its own role in intensifying cycles of violence, it is unfortunately considered radical to do what the NBC News veteran did and mention that our violent attacks abroad increase the chance of retributive attacks at home. .....................(more)
The complete piece is at: http://inthesetimes.com/article/14922/a_cronkite_moment_for_the_drone_age
David Sirota: A Cronkite Moment for the War on Terror
from In These Times:
A Cronkite Moment for the War on Terror
Tom Brokaw states the glaring truth about the Boston bombings.
BY David Sirota
“The stuff we have done overseas is now brought back into our own front yards. America's chickens are coming home to roost.”—Reverend Jeremiah Wright
In 2008, the hysterical backlash to the above comment by Barack Obama's minister became a high-profile example of one of the most insidious rules in American politics: You are not allowed to honestly discuss the Central Intelligence Agency's concept of “blowback” without putting yourself at risk of being deemed a traitor to country.
Now, five years later, with America having killed thousands of Muslim civilians in its drone strikes and wars, that rule is thankfully being challenged—and not by someone who is so easily smeared. Instead, the apostate is one of this epoch's most revered journalists—and because of that, we will see whether this country is mature enough to face one of its biggest national security quandaries.
This is the news from Tom Brokaw's appearance on “Meet the Press” last Sunday. Discussing revelations that the bombing suspects may be connected to Muslim fundamentalism, he said:
We have got to look at the roots of all of this because it exists across the whole (Asian) subcontinent and the Islamic world around the world. I think we also have to examine (America's) use of drones (because) there are a lot of civilians who are innocently killed in a drone attack in Pakistan, in Afghanistan and in Iraq. And I can tell you having spent a lot of time over there, young people will come up to me on the streets and say, ‘We love America, but if you harm one hair on the head of my sister, I will fight you forever.’ And there is this enormous rage against what they see in that part of the world as a presumptuousness of the United States.
As one of the establishment's most venerated voices, Brokaw is not prone to radical statements. But in a nation that often avoids acknowledging its own role in intensifying cycles of violence, it is unfortunately considered radical to do what the NBC News veteran did and mention that our violent attacks abroad increase the chance of retributive attacks at home. .....................(more)
The complete piece is at: http://inthesetimes.com/article/14922/a_cronkite_moment_for_the_drone_age
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