From NJB Magazine:
NJ Unemployment Claims Rise 8.8% Amid Broader Implications
Unemployment continues to mount in the Garden State, with 28,063 new claims filed for the week ending July 25, marking an 8.8% increase when compared to the week prior to that, according to the New Jersey Department of Labor and Workforce Development (LWD).
The cumulative total of unemployment claims filed in New Jersey since March 15 is now 1,441,936, out of an entire statewide nonfarm workforce of approximately 4.2 million.
At least some of these 1.44 million individuals have returned to work since initially filing for benefits. Meanwhile, the United States Bureau of Labor Statistics reported on July 17 that for the month of June, New Jersey had an unemployment rate of 16.6%.
Some experts are concerned that as unemployment continues to rise, demand for goods and services may decrease, potentially further imperiling the economy and potentially creating even more unemployment.
Food banks have additionally seen a spike in demand, with Gov. Phil Murphy this month directing $20 million in federal CARES Act funding towards these entities (in two phases) for the remainder of 2020.
Feeding America projects a 56% increase in New Jersey’s food insecurity rate in the coming months as a result of the coronavirus pandemic, and The Community Food Bank of New Jersey’s President and CEO Carlos M. Rodriguez said at a July 9 event that this translates into 432,000 state residents.
First.
UI will go down next week with the $600 CARES ending.
UI will go down next week with the $600 CARES ending.
More riots will ensue, I’m certain, as the pudgy muppets meander about, blaming white guys for their self-inflicted misery.
Pumps: From yesterday. Only a one minute search, yet there are lots more. Confirms what I said about you looking, after I noted Libs post on the topic. It was never a question of pro or con regarding WFH. It was your hatred of it, because it may affect your property value. You refuse to acknowledge that. Now we both can give it a rest.
Interesting book review published today touching on “hero worship” in a republic:
“It flourished initially in response to the development of print technologies, and the radical Enlightenment’s belief that governments should be founded not on the divine right of kings, but on the principles of secularism and popular sovereignty. It then proliferated with the overthrow of monarchies and the founding of republics, the escalation of warfare on a titanic scale, as well as the cultivation of romantic sensibilities, which encouraged citizens to embrace powerful emotions about their leaders – feelings of admiration, devotion and even love. Unimpressed by the idolatry he witnessed in early American political culture, John Adams railed against the “superstitious veneration” of his compatriots for George Washington.”
https://www.the-tls.co.uk/articles/men-on-horseback-david-bell-review-sudhir-hazareesingh/
Another good quote:
“the qualities we associate with democratic leadership, such as sobriety, simplicity, self-control and abnegation, were precisely those that were idealized in the first generation of charismatic leaders.”
3b,
It’s called being informed. Reading equals knowledge. See how that works.
3b,
Do you not understand that LIB hates me more than you? That’s why he takes that position.
*Than you hate me
Let it play out like my other calls. This is going to take a few years, but I promise you, when the virus is gone most people won’t be working from home.
Would you question Apple? That’s the ultimate evidence of why WFH will not become the norm. You are telling me they wasted billions building an optimum work environment with their new headquarters? You want to bet against Apple? Go ahead…
9:52 Apple has risen and fallen quiet a few times.
They screw over their customers by bricking perfectly
good units with onerous s/w updates. Bet against apple?
Sure why not. They go down again just watch. Just another big consumer
products behemoth.
Quiet=quite btw
WFH FOREVA
https://twitter.com/gregkellyusa/status/1289349895271272449/photo/1
Pumps : There you go again as Ronnie said back in the day! You give me Apple , I give you Facebook, Google. Let’s just stop it , you refuse to acknowledge WFH scares the crap out of you, because of the negative impact to your house price. You are selfish. That’s it, you are selfish, and would not give a damn about WFH, as you are a school teacher. So as I said let’s leave it there. I know it’s the truth, and so do you and so does everyone else on this board.
I think the alpha wife, that floats his lifestyle, works for Vornado. That scares him more..
After trump bans TikTok what will pumps do with all his new free time?
Is that where teachers go to stalk their students?
3b/bystander,
Put your money where your mouth is. Sell, get a wfh job, and go move to the rural area. If not, stfu already. You guys are the biggest proponents of it, so act on it. Get out of here. Bye. If the biggest proponents aren’t acting on it, what makes me believe everyone else will? I don’t feel like moving, and I’m sure lots of people in the same boat.
If they all move out of the city and drop the price, I’m moving in. Less congested nyc, let’s go!
But for some reason, I doubt that will happen long term.
12:32 you laugh but the profession is full of pedos.
“I’m in my forties but I look like I’m in my twenties…” Sept. 29, 2019
Images of child sex abuse have reached a crisis point on the internet, spreading at unprecedented rates in part because tech platforms and law enforcement agencies have failed to keep pace with the problem. But less is understood about the issue underlying it all: What drives people to sexually abuse children?
Science in recent years has begun to provide some answers. One thing most pedophiles have in common: They discover, usually as teenagers, that their sexual preferences have not matured like everyone else’s. Most get stuck on the same-age boys or girls who first attracted them at the start of puberty, though some retain interest in far younger children.
Bystander: Well that would certainly explain his unnatural hatred and selfishness regarding WFH.
I’ll be 40 next month. I look like I’m 32 in the face. But I’m about 30% gray. Apparently, if I go full gray, I can get a side gig modeling in magazines as a healthy 60 year old.
You should ban Tik Tok. That app is responsible for at least a 10 pt drop in IQ among kids.
Libturd,
Any thoughts on the storm making its way up the coast? Or is it too early
You mean the one over Florida now?
From what I read, it’s just not a strong one. It’s sort of refusing to spin based on the locations of the highs and lows around it even though the ocean is extremely warm at this point. I’m predicting we just get a tropically warm rain storm from it (mid Tuesday) with no significant wind and erosion issues. Worst case scenario is 4-6″ rains, but I’m guessing we will be looking at 3″ at best since this suckers gonna really track quickly right up the coast. If it somehow stays over the ocean instead of going inland over the Outer Banks, then things get a little bit more interesting from a wind potential standpoint, but the tracking speed (not wind speed) is very very quick at this point limiting rain.
Keep in mind, the first hurricane/snowstorm of every season gets excessively hyped. It’s really annoying, but there’s a reason those TV meteorologists got their jobs. The really good ones are back in the lab. Don Sutherland is the best if you want to follow a level-headed tweeter.
Gen Z is struggling to be productive working from home
https://apple.news/ACmNU-5VYRhCn6rPJfFzaew
Pumps Give it a rest. I have the complete answer now on why you hate WFH. Let it be and leave WFH to us; you concentrate on being a teacher.
When are you moving? Why are you holding an asset you claim is doomed? You said you own, correct? So why are you still holding? You constantly complain that people are buying an overpriced asset in north heresy, so why are you still holding?
3b says:
August 1, 2020 at 5:39 pm
Pumps Give it a rest. I have the complete answer now on why you hate WFH. Let it be and leave WFH to us; you concentrate on being a teacher.
Speaking of WFH, someone backed out of my brother’s rental in Cape May so I guess I’ll work from there this week. This WFH thing is never going to work. He also gave us the first week in September so after we return from the Outer Banks where we got an absolute steal of a deal for beachfront (boards to the ocean) the last week in August (local kids are back at school), we’ll quarantine in Cape May. WFH sucks. If it were not for its existence, I would have to take the first two weeks off in September by law. This will never last.
Pumps: You admit you hate WFH, because it will negatively impact your house price and your wife’s industry. But of course you won’t. Nevertheless, I will answer your question, it’s because I don’t care. It will be worth whatever it is worth. A decline in house prices is just what this area needs with WFH, it will be a cleansing process, and long term make this area more competitive and affordable. High housing costs are not a positive, and they don’t stimulate an economy. And now I am finished discussing WFH with you. It’s here, it’s staying, accept it and move on.
Lib/3b,
WFH really depends on what work situation was like before virus. Our building was built green and new back in 2007. It is great really with huge patio space, modern cafeteria, coffee bar, general store etc…but since 2008 crisis, it has become ghost town. It is 1/4 full at most. No one works on huge open trading floor…really weird. The coffee bar was closed, they outsourced cafeteria to lame Fooda vendor. My bank crammed every into a room when they consolidated to single floor in 2019. It is no way fire safe. There are six of us jammed in 6×10 area. I sit 1 foot from my boss literally. I have no interest in going back there. It was inhumane. I have been able to get more work done on my house than previous 5 years. Trees, new bluestone walkway, new lighting..long live WFH.
Bystander: That sounds like BONY.
For many WFH is about maintaining a career.
Lots of fields may get clobbered. Fingers crossed it’s not yours.
I did field sakes in the mid nineties from a home office.
Liked slipping away for some golf occasionally.”Subterfuge” is key w/ WFH.
Sakes=sales
We are approaching the coffin corner. Hang in there.
If you guys could see my Indian office. What’s amazing about it is that somehow it’s not THAT noisy. I’m not sure if it’s cultural or Indian business culture, but it’s basically a whole floor of a building in an office park. Three quarters of the floor is open space with row after row of long tables that span half the width of the entire floor, then there’s a center aisle and then another long table. It’s looks like the world’s largest computer lab, thinking back to my college days. In New York, this space would house maybe 150 people tops. In Chennai, it houses about 500. Everyone facing forward, with no space for any personal belongings nor file cabinets. At the end of each row there is a recycle bin for paper and a garbage bin for used tissues. There is nothing else to throw out. Everyone has a wired headset, a CPU/monitor, mouse and keyboard. That’s it. The last quarter of the office is the cafeteria, minimal expense to eat there btw, and the men and women’s bathrooms, with the spray hose. Everyone and I mean everyone washes their hands after using the bathroom and before and after eating. Cultural for sure. There is a dining hall in the basement of the building with pizza hut, Starbucks, a Panera type place and an indian snack bar with vege burgers and katti role kind of stuff. But it’s all kind of pricey for them, though still dirt cheap to me.
When Covid hit here, they immediately planned for WFH which is tricky as most don’t have computers at home. So they allowed the employees to take their office rigs (or IT delivered them as many took the bus) and attach to company provided cellular hotspots. Productivity lost was 20% at the start, which has lowered now to between 5 and 10% mainly due to drop in network speeds. The company couldn’t be happier. BTW, nearly our entire IT team except for site support has been WFH for nearly the last five years in the US.
Phoenix? You fly?
Took lessons a while back. Loved it. Hope to try again in the future. Sometimes other things get in the way and so it ended up on the back burner. Expensive hobby, however.
If I hit the lottery…
8:27 I can smell the vindaloo from here :)
The office of Vice President Mike Pence used political pressure to get former Missouri governor Eric Greitens reinstated into the Navy despite those in command stating they wanted nothing to do with the scandal-plagued former SEAL, the Kansas City Star reported Saturday.
The Star obtained 850 pages of documents through a Freedom of Information Act (FOIA) request which showed top brass at the Navy were extremely concerned with Greitens’ history, which included a 2018 felony charge of sexual misconduct and another felony charge for computer tampering. Though both charges were eventually dropped, Greitens, who won Missouri’s gubernatorial race as an unlikely outsider candidate in 2016, was forced to resign from office.
I mean look at his Twitter performance, wanting to “FREE AMERICA NOW”, in a country that has 4% of the global population yet 28% of global deaths.
Look at the origins of Tesla, he did not found it and later when the two founders of Tesla reached out for investment Tesla provided some capital. When the two founders in Musk’s eyes didn’t give him enough “credit” in the company (even though all he did was invest, which is common for investors to actually be left anonymous or in the dark) he demanded the car designers of the roadster to make changes to it that would set the company back and in particular he grew a hatred to Martin Eberhard, one of the original founders.
When the company started looking for a new CEO the entire board basically went behind Martin’s back and promoted Elon Musk to CEO, as soon as he became CEO he immediately fired Martin.
The company then continued to grow and the picture became that Elon Musk was the founder behind Tesla and these two were purposely not reported by the media and Tesla (hence why even today very few people know), Martin sued because he wasn’t getting the right credits he deserved in his eyes, and then Elon sued back with the much more power he had knowing Martin would be destroyed, Martin then eventually gave up and accepted what had happened.
Not only that, Tesla have been investigated for purposely not reporting workplace accidents to make the company look better than it is; however that’s still happening so I’m not going to make a conclusion.
You see, this shit doesn’t get reported and the power the media have to form people’s opinion on someone is extraordinary, and Elon’s meme persona he puts on really seems to be effective as well at mainting a positive reputation, with a fanbase that is actually quite obsessive which further work to boost his reputation.
Don’t confuse incredible talent and giftedness with his personality, he could be doing great things for humanity absolutely. It’s just that the guy that’s doing it is a dick, big difference.
WSJ Editorial
OPINION REVIEW & OUTLOOK
Obama’s Filibuster Swipe
He frames it as racist. That will end debate among Democrats.
By The Editorial Board
Anticipating a November romp, prominent Democrats have been dropping hints that they’d scrap the filibuster for legislation if they win the Senate. Would they really make such a polarizing move? Any doubt was eliminated Thursday when President Obama, speaking at the funeral for Congressman and civil-rights leader John Lewis, described the filibuster as a “Jim Crow relic” that should be eliminated if it gets in the way of Democratic voting legislation or admitting Washington, D.C., and Puerto Rico as states.
By requiring 60 votes, the filibuster gives Senators in the minority a say in legislation and differentiates the upper chamber from the more partisan House of Representatives. Segregationists did use the filibuster to block civil-rights legislation in the 1950s, though that also meant that when strong legislation finally passed in the 1960s it was backed by durable majorities. In 2017 most Senate Democrats signed a letter supporting the filibuster because “we are steadfastly committed to ensuring that this great American institution continues to serve as the world’s greatest deliberative body.”
Republicans kept the legislative filibuster intact when Democrats were a minority. But in a Democratic-controlled Senate, expect institutional arguments to wilt under the racism charge Mr. Obama previewed. The logic goes like this: Adding states to the U.S.—or, say, packing the courts—is expected to increase Democratic political power. Republicans are the modern-day obstacle to liberal policies, and therefore by definition the opponents of civil rights. Therefore, supporting the filibuster perpetuates the legacy of Jim Crow.
With Mr. Obama’s blessing this will become conventional wisdom among liberal intellectuals, and woe betide a Democrat who disagrees. Centrist Democrats won’t survive primaries if they support the filibuster, and our guess is that even West Virginia’s Joe Manchin, who last week pushed back against the anti-filibuster drive, won’t stand in the way if he is the decisive 50th vote.
The filibuster is not embedded in the Constitution, and a majority can lawfully eliminate it. But voters should be aware of what they are getting when they pull the lever for Democratic Senate candidates—a legislature that may be unconstrained by institutional norms that have checked both parties for decades. The door to radicalism is getting busted wide open, and Americans of both parties may not like what comes out the other side.
I don’t agree with the degree of this opinion piece; I find it rather alarmist. However, it is definitely interesting and spoken from a person who appears well versed in the subject matter.
OPINION
The Captive Mind and America’s Resegregation
Idol smashing and cancel culture are part of a broad ideological project to dominate society.
By Andrew A. Michta
July 31, 2020 3:01 pm ET
Czesław Miłosz, a future Nobel Prize-winning poet who had just defected from Poland, began work in 1951 on a book called “The Captive Mind.” Even as Stalinist totalitarianism tightened its grip on Eastern Europe, many Western European intellectuals lauded the brave new world of Soviet communism as a model for overcoming “bourgeois forces,” which in their view had caused World War II. Living in Paris, Miłosz wrote his book, which was published in 1953, to warn the West of what happens to the human mind and soul in a totalitarian system.
Miłosz knew from experience, having lived through the Communist takeover, how totalitarianism strips men and women of their liberty, transforming them into “affirmative cogs” in service of the state and obliterating what had taken centuries of Western political development to achieve. Totalitarianism not only enslaved people physically but crippled their spirit. It did so by replacing ordinary human language, in which words signify things in the outside world, with ideologically sanctioned language, in which words signify the dominant party’s ever-changing ideas of what is and is not true.
Since the death of George Floyd in Minneapolis, nationwide protests, which quickly turned to riots, have been hijacked by the neo-Marxist left, morphing into an all-out assault on American cities and institutions. This assault is underpinned by an audacious attempt to rewrite history that turns specific past events into weapons not only to overpower political opponents but also to recast all of American history as a litany of racial transgressions.
The radicals have turned race into a lens through which to view the country’s history, and not simply because they are obsessed with race. They have done so because it allows them to identify and separate those groups that deserve affirmation, in their view, and those that do not. What is taking place is the resegregation of America, the endpoint of which will be the rejection of everything the civil-rights movement stood for.
What is driving the radical protesters and rioters—who are enabled and manipulated by the “digital intelligentsia” in the press and an expanding segment of the political and business classes—is contempt for the freedom of anyone who fails to comport with their image of a just society. In authoritarian systems those in power seek to proscribe certain forms of political speech and social activity. Totalitarians claim unconditional authority to reach deep into each person’s conscience. They prescribe an interpretation of the world and dictate the language with which citizens are permitted to express that interpretation. Authoritarian regimes leave largely untouched the private civic sphere of human activity; totalitarians destroy traditional value systems and reorder the culture. That is why they are harder to overthrow.
The ill-named progressivism that has inspired shrill demands to dismantle police forces and destroy statues is only a small manifestation of a massive project aimed at the re-education of the American population. The goal of this project is to negate the story of the American republic and replace it with a tale anchored exclusively in race categories and narratives of oppression. The nature of this exercise, with its sledgehammer rhetoric that obliterates complexities in favor of one-dimensional “correct” interpretations, is as close to Marxist agitprop as one can get.
Why do American elites, who might be expected to favor preserving the nation that has elevated them, support the effort to dismantle it?
Their thinking seems to be that the radicals destroying monuments and issuing wh0lesale
denunciations of America’s past are wreaking destruction on ordinary Americans and their history, not on the elites and their ideology. Today’s elites as a rule do not believe they have any obligation to serve the public, only to rule it, and so they express little or no disapproval of college students toppling statues on federal land or looters raiding supermarkets. To criticize them would open elites to the charges of “populism” and “racism.”
Yet the elites are playing a dangerous game. Such “canceling”—of historical and living figures alike—increasingly mirrors what happened under communism in the Soviet bloc, where the accusation of being out of step with the party was enough to end one’s career and nullify one’s reputation.
This is about more than statues and history. Those who control the symbols of political discourse can dominate the culture and control the collective consciousness. If you doubt this, ask yourself why there has been so little backlash from ordinary, nonelite Americans. Our sense of self has been progressively deconstructed. We feel in our bones the wrongness of the violence being visited on the nation but lack the language to speak against it.
The resegregation of American society is fundamentally undemocratic and un-American. It envisions a social hierarchy based on DNA. It is also incompatible with individual freedom and constitutional government. Hence the drive to overhaul the U.S. Constitution, rewrite textbooks, and restructure museums by race and sex quotas.
Democracy cannot survive in a society in which winners and losers are adjudicated arbitrarily according to criteria beyond individual control. Any society built around the principle of skin color will become a caste system in which accident, not merit, will allocate value and benefit. Civil society will be buried once and for all.
The current radical trends carry the seeds of violence unseen in the U.S. since the Civil War. The activists ascendant in American cities insist on the dominance of their ideological precepts, brooking no alternative. Such absolutism forces Americans away from the realm of political compromise into one of unrelenting axiology, with one side claiming a monopoly on virtue and decency while the other is expected to accept its status as perpetually evil, and thus assume a permanent penitent stance for all its real and imagined misdeeds across history.
Only when the state creates a space for an unbiased debate over history can a discussion truly take place unhindered by ideology and dogma. Only then can a society move toward a consensus on a shared understanding of its past and how its collective memory should be shaped. The U.S. is roiled by spasms of violence and intolerance today because government at all levels—public education systems, states that allow universities to promulgate speech codes and “safe spaces,” court decisions that define constitutionally protected speech as, in effect, everything but political speech—has abdicated its duty to protect the public space. Children are rampaging through the cities because the adults have left the room.
America is in the throes of a destructive ideological experiment, subjected to a sweeping and increasingly state-sanctioned reordering of its collective memory, with the increasingly totalitarian left given free rein to dominate public discourse. Miłosz, who died in 2004, would see an American mind bloated by a steady diet of identity politics and group grievance served up by ideologues in schools nationwide. These ideologues have nearly succeeded in remaking our politics and culture; they are reinforced by a media in thrall to groupthink, by credentialed bureaucrats, and by politicians shaped in the monochrome factories of intellectual uniformity that are America’s institutions of higher learning.
American society is faced with a stark binary choice. Either we push back against the unrelenting assault of the neo-Marxist narrative, or we yield to the totalitarian impulse now in full view in our politics. It is no longer enough to wait for the next election, or to pin our hopes on a “silent majority” that will eventually stop the madness. There may be no such majority. If there is, its members may no longer be able to articulate what they see unfolding around them. It is hard to call things by their proper names in a society whose elites insist on calling looters and arsonists “protesters,” national monuments “symbols of racism,” and the victims of looting and arson the beneficiaries of “white privilege.” The challenge is massive, but it starts with the simple act of calling things by their proper names.
Mr. Michta is dean of the College of International and Security Studies at the George C. Marshall European Center for Security Studies in Garmisch-Partenkirchen, Germany.
The word wh0lesale threw that whole thing into the netherworld.
Polarization seems to be the norm now.
That and purity tests and cancel culture.
We love to watch the “mighty” fall.
Bill Maher did a good show last night
on this very topic. Say what you will about
Maher but he has a strong libertarian streak.
Stu: I guess he’s fallen and he can’t get up.
https://www.google.com/amp/s/popculture.com/celebrity/amp/news/wilford-brimley-the-thing-cocoon-star-dead-85/
Look at the origins of Tesla, he did not found it and later when the two founders of Tesla reached out for investment Tesla provided some capital. When the two founders in Musk’s eyes didn’t give him enough “credit” in the company (even though all he did was invest, which is common for investors to actually be left anonymous or in the dark) he demanded the car designers of the roadster to make changes to it that would set the company back and in particular he grew a hatred to Martin Eberhard, one of the original founders.
This is a pretty biased revision of history. Musk was the 4th employee of Tesla, and pretty much funded the entire startup (something like 6 of the 7 million of the initial series A), as well as being majority investor in the next two funding rounds. Prior to this there was no company, there was an idea. The fact that a proven entrepreneur would invest something like $70 million of their own money in a startup and expect to have no involvement is absurd. Eberhard didn’t want to be the CEO (as he was shitty at it), he wanted to be the chief engineer, and was already in the process of stepping down as they searched for a new CEO. Eberhard might have been a brilliant ideas guy, but he had no idea how to run a company, and it showed. At one point Musk invested *all* of his liquid capital to keep the company afloat, Eberhard invested $75,000 of his own money.
Chi, interesting WSJ editorial, definitely shows a certain mindset. But respectfully the almost histeric paranoia in that editorial is palpable. As is the author’s lack of self-awareness:
“Any society built around the principle of skin color will become a caste system in which accident, not merit, will allocate value and benefit. Civil society will be buried once and for all.”
Does he understand that quotes like this actually undermine his own argument? Remember this one:
“I have a dream that my children will be judged not by the color of their skin but by the content of their character”. That dream lives on.
I wish the WSJ would focus on promoting reasonable, acceptable, positive reform instead. It would certainly show a more balanced perspective. When they point at no particular issue with the status quo at all, no possible improvement whatsoever, that shows some potential bias no?
“The resegregation of America”? Really? This is borderline Breitbart material. Good to see it for perspective though.
Bend over, here come the new taxes…
Murphy enacts new tax on insurance companies to expand health coverage for middle-class families
Gov. Phil Murphy signed a law Friday that imposes a 2.5% tax on health insurance companies that will help pay the premiums for people who rely the marketplace created by the Affordable Care Act to shop for coverage.
Both houses of the state Legislature approved the bill (A4389) Thursday, giving the state ample time to prepare for the ACA open enrollment period that begins Nov. 1.
…
The Department of Banking and Insurance would levy a 2.5% tax on insurance companies based on the amount of money collected in premiums. The proceeds — estimated at about $200 million — would be deposited into the Health Insurance Affordability Fund and used to subsidize the cost of insurance for people who earn no more than four times the federal poverty level. A single person earning a maximum of $50,040 and a family of three earning $86,880 would qualify.
An estimated $77 million of the tax money collected will bolster the state’s existing reinsurance program to cover high cost claims and lower premium costs in the individual market.
“This bill will help to ensure that people are able to afford health insurance during this critical time when a global disease is not only threatening their health, but their financial security in unimaginable ways,” said Joseph Vitale (D-Middlesex) one of the bill’s prime sponsors.
We have to help our amazing, valued, dedicated Police men and women to to their best work by removing unnecessary work from their plate. Look at this example from Kentucky where a town saved money and reduce 911 calls by deploying social workers:
https://www.wave3.com/2020/07/28/kentucky-town-hires-social-workers-instead-more-officers-results-are-surprising/
After four years on the job, Pompilio said there has been a significant drop in repeat 911 calls with approximately 15 percent fewer people going to jail.
Now retired, former Alexandria Police Department chief Mike Ward said the results were immediate both for people in need and taxpayers.
Well, what do you expect when the economy tanks. They are always going to take from the winning side to subsidize the losing side.
grim says:
August 2, 2020 at 7:25 am
Bend over, here come the new taxes…
Other option is to stick a finger to the losers and watch anarchy prevail.
You can only eliminate so many jobs before you tank the entire ship. Esp in America, we are used to a certain quality of life. This country couldn’t survive on a third world standard of living, it would rebel way before that ever happens.
What comes next?
You’ve been freed
Do you know how hard it is to lead?
You’re on your own
Awesome. Wow
Do you have a clue what happens now?
Oceans rise
Empires fall
It’s much harder when it’s all your call
All alone, across the sea
When your people say they hate you, don’t
Come crawling back to me
Folks,
WFH is not here for ever.. but I bet 30% of staff will be WFH for ever, rest will need to go back.. Sooner than later..
NY will come back at some point in time. For god’s sake it’s NewYork….
Suburban homes are now valued more.. Will stay that way..
Commuter towns are even more valued I guess.. because it gives them best of both worlds.
Pumps was right and probably right now.. He acts strange but by luck or what, made the right calls..
Da da da dat da dat da da da
Da ya da
Da da dat
Da da ya da…
You’re on your own…
Ignore the pumpkin and raise your IQ by 20 points. Just straight fact analysis.
https://theanalysis.news/interviews/liberal-elites-will-create-conditions-for-another-trump-thomas-frank-3-3/
Phoenix,
When MS Flight 2020 in the next few weeks, I’m going to put together a Sim setup for myself and my kids.
I’m pushing my kids towards Aviation. Those that want to fly can fly. Those that want to pump gas, can pump gas on the tarmac.
Homebuyer,
It’s their ego. They think I’m an idiot. It’s also because I’m a teacher, and they have no respect for teachers. They all thought they were the man with the housing crash call, which was a great call. They doubled down on the gloom and have been wrong ever since.
I come along with amazing call after amazing call. I was wrong with one, nhmd, and they eat me alive for it. They even killed me on PLUG, but over time that has doubled in price. So they ignore all these impressive calls, but bash me for the one mistake I made in 7 years of calls on this blog. They then accuse me of bringing no value to the blog.
For example, 3b thinks I’m making this WFH call based on selfish reasons ( major reach). For God’s sake, it’s a major topic right now. God forbid I take a strong anti position on it when someone like 3b is calling for the end of the city and going to work. Does he understand how stupid that sounds? Will some of the workforce WFH, sure, but majority won’t.
Look at home offices. How long did that trend last? When it first came out, offices were supposed to be done, sure. They realized, yea, you could save money with a home office, but how professional does that look? And you should never mix your home with business. It don’t mix. A home should be an environment that separates work from play. It’s too stressful over time to work, play, and sleep in the same environment. It takes a toll on you after years. You will be overly stressed.
Homebuyer: We know who you are.
Grim,
Can you ask your farming friends whats up with Veg at the moment? A good example is that Jersey corn does not seem to be at the same quality level you usually see at this year. I can only think that the seasonal workers did not come north this year for planting and harvest.
And on Cue our pops pumps, notice the use of for God Sakes in both posts.
FM,
Sounds like fun. Can get pretty elaborate in some of those setups
Less violent then other video games kids are playing today.
I like it because it’s technical and variable.
Enjoy.
Fab,
Jersey Corn is only in its early stages right now. If you want phenomenal corn, you have to get it from South Jersey. Probably be different in a week. I buy mine right now from a farm in Hammonton that sells at the Trenton farmers market. It was amazing. The stand down the road from me is selling it but its not good yet. I suspect in a week or two it will be better.
My take on it was the abnormally cold spring slowed things down. I post all my produce pictures on facebook yearly so I can compare. It took me an additional two weeks to get tomatoes and cucumbers, despite me being way ahead on plant growth by April using a greenhouse. The extreme hot dry weather we have now has everything playing catch up.
Here we go again, matching up words and assuming it’s me.
You really think I’m writing a post under another handle to support my position? Really? Your pea brain can’t comprehend that someone who reads this blog calls it like they see it?
3b says:
August 2, 2020 at 9:26 am
And on Cue our pops pumps, notice the use of for God Sakes in both posts.
Can you sing that without spitting?
Phoenix says:
August 2, 2020 at 8:48 am
What comes next?
You’ve been freed
Do you know how hard it is to lead?
You’re on your own
Awesome. Wow
Do you have a clue what happens now?
Oceans rise
Empires fall
It’s much harder when it’s all your call
All alone, across the sea
When your people say they hate you, don’t
Come crawling back to me
Hell I wish I could sing that at all.
Seemed also like those founding fathers may have been a bit more honorable than the current batch of cretins that infest our government today.
Pumps You have done it before and were caught, and on more than one occasion. Home and pumps same poster.
I was talking to a friend of mine this morning in the building trades. They are getting concerned, overtime/ time and a half is gone. Concerned that all the building going on in Manhattan, will not resume due to WFH. He was already concerned prior to pandemic as he thought there was a glut, but as long as it was going on he was happy to take all the work.
https://www.nj.com/coronavirus/2020/08/should-nj-start-a-border-war-and-grab-income-taxes-paid-by-nyc-employees-now-working-at-home-in-jersey.html
Well done article on little known but important fact: NJ residents pay billions of income tax to Albany. Let’s see if Murphy fights this.
Cuomo now on the record that he fears the WFH situation will play out very badly for the state of NY financial future. He said as much in a call with reporters this morning.
So now the cat is out of the bag.
NY will not go down without a fight. This is a clear signal to firms with a NYC presence. The state and city is weak. They are signaling that they will negotiate.
If the city wishes for the millions of commuters to come back to NYC, they will have to bend over and take if from the private sector. Tax breaks at a minimum.
I don’t pretend to know how this plays out. But the state and more importantly, the city, knows there is no future with WFH. The city will not go down without a fight.
Maybe New York needed this, to bring back the grit and fight that it’s known for.
No matter what, I don’t bet against NYC. It’s in a class of its own when it comes to international cities.
“The city will not go down without a fight.”
Did he expect anything else when he shut it down? Of course it’s going to hurt your financial future.
Put it this way, if the nyc economy would end, mine as well move to another country. No way our country can replace this economy. It made and redistributed a massive amount of capital in our economy. It’s mind blowing, and if we lose that, this country is over.
homeboken says:
August 2, 2020 at 11:43 am
Cuomo now on the record that he fears the WFH situation will play out very badly for the state of NY financial future. He said as much in a call with reporters this morning.
Starting the day with some “Sasquatch”
Dang I love cailifirnya. I love NYC too.
But often the ‘fantasy’ of an NYC life is better
than the reality. Gotta make $100k each to live there with
Any semblance of a life.
Homeboken And commercial real estate is going to take a big hit; there was already massive over building in Manhattan prior to the pandemic. NYC prices will come down to be competitive, and that includes house prices close to the city. Long term it will be healthy. High house prices do not stimulate the economy.
Phoenix,
The basic controls are relatively cheap, as are flat screen TVs. It all comes down to how much you want to dump into CPU/GPU. 4K and VR will push that up there. The new version looks amazing.
https://www.youtube.com/watch?v=AEkNQVWkgpc
See peeps who can live cheaply in the Mideast will now compete with the unsustainable East and west.? Wait and see. Time will tell. My guess is that this crises will reset housing – rent crises? Landlords BQ….exodus ?
Ex-burbs are an option but really for the well healed.
House cata corner To me goes for $900k in one day. Owner
Is heading …. to Idaho. Second family in two blocks to do so.
The other family was originally from Jersey. But Idaho?
Ex They won’t necessarily go that far, some will, but others won’t. Just going 50 to 75 miles away will make the difference between 20 to 25 miles away.
“ Long term it will be healthy. High house prices do not stimulate the economy.”
You can’t be this naive? Do you understand why the FED tried its hardest to save the housing market in 2008? Do you understand that real estate is the single biggest wealth generator for American families? Do you understand the destruction that comes from a 20% drop in real estate?
Essex,
Coasts will always be the top locations. There is no changing that. It’s the most productive and desirable real estate in America.
Cuomo now on the record that he fears the WFH situation will play out very badly for the state of NY financial future. He said as much in a call with reporters this morning.
The public sector will have to lay off en-mass. Oh well, it’s about time bloated salaries and do-nothing jobs are terminated.
Bloat is a result of empire building. That won’t stop.
As long as someone’s auntie knows someone’s kid you’ll get lifers in the gubmint.
It’s that simple. Enforce nepotism laws? Lose 1/3 of the bloat.
“Do you understand the destruction that comes from a 20% drop in real estate?”
I don’t, please explain it to me.
or not, cause I really don’t care.
Or maybe it would be a good thing, as parasites like you would buy as much as you can when it drops 20 percent and brag about the family of your students you evicted from their house and how you explained to them they needed to learn this like you did, from the school of hard knocks.
Sorry for the long sentence..
“The basic controls are relatively cheap”
Good controls are really expensive. But yeah, you can buy cheap enough fun stuff.
I’d rather my kid learn this than all of that violent crap online.
Let me know what you choose when you do.
A 20 percent drop in an over inflated asset will be cleansing. The Fed should have let it fall to its true value. That’s how a capitalist system works. And you claim you are a rick ribbed capitalist!
Ignore the pumpkin, highly recommend the following read,
https://wolfstreet.com/2020/07/30/nobody-knows-how-to-ever-get-out-of-this-mess-2/
Murphy is too stupid to claw money back from NYC in lost commuter taxes. He doesn’t know that game. He only knows debt instruments. Seriously. It’s all banks with him. Wonder why?
Politics aside, do any of you find Tesla’s attractive from an appearance standpoint? I think they are pretty pedestrian if not fugly. Not Prius fugly, but more like HHR fugly. Even their logo looks a bit like a diagram of a woman’s private parts. At least their subsidy is gone. Will be interesting to see how many people are willing to pay between 40K and 85K (when you factor in taxes) to drive a fugly car that requires you to wait 30 minutes to provide a charge that will get you 200 to 300 miles of range. Originally, I thought Prius owners were dumb, but that super fugly car actually proved pretty damn reliable and cheap, especially considering the tax breaks. I was wrong there. I must be wrong on Tesla’s value I guess, because the next generation seems really sold on climate change and are willing to pay double or triple for what I think is kind of a POS car.
Speaking of value, I am almost completely out of this market. I am honestly 20% growth stocks now. I always position my portfolio based on what I think are the odds of the bull market continuing and tend to sacrifice the opportunity to make gains ahead of the risk of my portfolio losing value, especially after nice runs. This strategy has served me incredibly well both in the casin0 as well as in the stock market. I put about 20% of my portfolio into Amazon at 1700 and about 10% into Adobe at the same time and the rest of my portfolio was in VUG and cash this year. I’m up nearly 30%. I haven’t done the exact math, but I know I’m close enough to that gift horse that I’ll hold onto it until the coast looks more clear. Now that I’m done praising myself like a multiple aliased simpleton school teacher from Wayne (if that’s what he really is), I will briefly describe why I think the market is about to stall or perhaps collapse.
We are halfway through earnings season and the earnings aren’t nearly as bad as expected? Why? Well because we printed 3 trillion dollars in one quarter. Even so, the GDP dropped nearly 10%. Fitch has even put a future negative downgrade on our credit rating. Had it not been for giant tech which obviously did well in a lock down, we would have sunk already. So that’s the backdrop. What does the future entail? Well we really can’t cut interest rates any further. And we can’t borrow another 3 trillion. Yet the states are all going to be woefully short come budget time and the FED really can’t afford to bail out every state. So they will have to significantly cut public workforces. Do we honestly think THAT is going to happen? Throw in our complete and utter mishandling of Covid and the fact that we have hardly started paying for it. And at some point, landlords are going to evict their non-rent paying tenants (and there are a lot of them) or they’ll default themselves, which will be even uglier. Then there is this election thingy coming up, and the markets already up 20% on a year with Covid. These aren’t headwinds. This is an insurmountable wall. And of course there’s this.
“More reliable is the market’s influence on election outcomes. To wit: When the S&P 500 has risen in the three months before an election, the incumbent party generally has gone on to win the White House; when it has fallen, the incumbent party has generally lost. Since 1928, this trend has been broken just three times—an 87% success rate—and it hasn’t missed since 1980.
So, what can we learn from all this? While some clear patterns between market performance and presidential elections have emerged, past performance is no guarantee of future results. ”
So if the market climbs significantly further north, I’ll sell off my last 20%.
What we are witnessing is a complete disconnect of the market from reality. Throw in the fact that all of these near record overvalued megatechs are going to collapse the moment a vaccine is announced and I’m pretty confident that we are looking down the barrel of a shotgun.
I wonder if Chi will tell you something different. I am open to being ripped apart. Actually, I’d prefer it.
Wow. If you thought I was negative, that WolfStreet article might have you slitting your wrists.
Only a true dufus would argue that the great exit from NYC will simultaneously push up NJ homes prices to insane levels but also have no impact on NYC real estate or overall city economy.
Great point, Bystander. You are one of smartest posters on this site.
Bystander is a genius and hung like a horse, I hear. I am completely objective and not a false handle, I swear.
Lib: What’s the connection between the vaccine and the tech stocks?
Bystander is lying.
3b,
All IMHO, of course, but they have all nearly doubled their PEs on the back of Covid. Do you really think Amazon is going to do as well once Covid is over. Same with Alphabet, Facebook, Netflix, etc? Then there are all of the gig economy stocks that are exploding since lots of people are avoiding doing things themselves that they pay someone else to get infected to do. Heck, Zoom will be the easiest short there ever was if you could time the week the vaccine is released. Then there’s Fastly, Shopify, etc. All are going to get hammered, not so much because people will completely stop using them, but they won’t be worth their nearly overvalued current prices.
Hope this answered your questions.
Go luck at the PEs of some these companies. Even Amazon. It’s getting back into ludicrous zone.
I hope the courts block Murphy and the dems from borrowing 10 billion to plug revenue holes from shutting down the economy. The dems have the audacity to ignore the state constitution’s voter approval of new debt and go at it alone. I’m going to laugh if the courts block it and force governor a$$hole to make massive budget cuts instead.
https://www.nj.com/coronavirus/2020/07/nj-supreme-court-to-decide-if-state-can-legally-borrow-99b-to-offset-losses.html
True, more of a donkey.
Lib: Right in front of my face and I missed it! I think you are right on that.
Wolf certainly nailed it !
Lib,
Actually the Tesla logo looks more like an IUD. At least it’s a hell of a lot safer.
https://uhs.umich.edu/contraception-iud
It will be interesting to see if the court approves the borrowing, what the rationale will be.
They will approve it and their rationale will not matter as the real reason for approving it is to make sure they rub the backs of their fellow public sector workers. It is for this same reason that public sector unions should be illegal. If things are so bad for a public worker, then they can quit and find a job in the private sector. Let the market determine their remuneration. And don’t give me that sh1t about the best and the brightest. Nearly the entire public payroll besides teachers, is made up of friends and family. It’s really a complete joke. But the crumbs are so nice.
Lib: I agree, but they have to give an explanation.
That’s easy. Pandemic is an exception. Don’t forget the bath beads Phil.
It’s clearly unconstitutional. Won’t matter. You can bet on it.
Actually, given DeBlasios policies, it appears the city will go down without a fight
Brt: And I don’t think he cares.
WSJ OPINION
Dawn of the Woke
Joe McCarthy was a B-movie monster. Today’s cancel culture is more like a zombie apocalypse.
By Lance Morrow
I was a Senate page boy for a couple of summers in the early Eisenhower years. Joe McCarthy was in full cry. I would ride in the Senate elevator with him sometimes or sit near him in the toy monorail subway car that runs between the Capitol and the Senate Office Building. He had black smudges under his eyes and a hearty Elks Club way with the tourists he encountered in the halls of the Capitol. He wore rumpled dark-blue suits and gravy-catcher ties, and from time to time he would emit a mirthless chuckle (heh heh heh). If you got close, he gave off a whiff of last night’s whiskey.
Years later, that smell—stale, heavy—merged in my mind with the moral odor of McCarthyism, a sour American memory. Saint Thérèse de Lisieux, the Carmelite known as “The Little Flower,” was said to have emitted a strong scent of roses at her death—“the odor of sanctity.” Joe McCarthy produced the opposite effect.
So does the cancel culture, which is the 21st century’s equivalent of McCarthy’s marauding. The country’s myriad cancelers emit the odor not of sanctity but of sanctimony, and of something more ominous: the whiff of a society decomposing.
What’s happening on the American left—with surreal rapidity, like the fall of France in 1940—is sinister. Wokeness and the cancel culture represent not idealism but virtue gone clinically insane. Look up the word hysteria: “a psychological disorder whose symptoms include . . . shallow, volatile emotions, and overdramatic or attention-seeking behavior.”
The indignant woke, who imagine themselves to be righteously awake and laying the foundations for a more just and humane world, ought to pause—to draw back for a moment, and consider the possibility that they are, as it were, fast asleep, caught up in strange, agitated dreams: that they have become a mass joined in a cult of self-righteousness, moral vanity and privilege. One of these days, they will have to be deprogrammed and led back to the real world. Woke institutions will need to be fumigated.
The woke are especially obsessed with two areas—s5x and race. In their dream, nature’s basic working arrangement—sex, male and female, the business of procreation that ensures the survival of the species—dissolves in a frolicsome alphabet soup of identities; human meaning works itself out not in the mind, not in thought or art, but in the territory that lies south of the navel, in restless gen1tal experiments. Men become women on their own say-so, and may bear children, if they choose: Death to the one who denies it! Even pronouns have become narcissistically discretionary.
As for race: In the eyes of the woke—and in most media accounts—this summer’s eruptions (protests, demonstrations, riots, precinct-house occupations, and the “summer of love” in Seattle’s “occupied protest”) have been “overwhelmingly peaceful.” It’s not really true, but the woke are addicted to the meme of their own harmlessness, and so they will it into truth. Destruction, in fact, has been extensive—and inexcusable. Those hardest hit have been residents and shopkeepers in black and other minority neighborhoods that are left in the wreckage after those who did the damage—among them many white anarchists and antifa people—have gone back to their parents’ basements.
Michael Tracey, a journalist from Jersey City, N.J., returned from a monthlong tour of cities around the country, inspecting the damage. He reported, in an article on the website UnHerd: “From large metro areas like Chicago and Minneapolis/St. Paul, to small and mid-sized cities like Fort Wayne, Indiana and Green Bay, Wisconsin, the number of boarded up, damaged or destroyed buildings I have personally observed—commercial, civic, and residential—is staggering. Keeping exact count is impossible.”
McCarthyism and the cancel culture—which is the military wing of wokeness—are most alike in their power to conjure fear. It was fear that kept McCarthy up and running for several years, and it is fear—of losing a job, losing an assistant professorship, losing one’s good name, one’s friends, fear of saying the wrong thing and bringing down ruin on one’s head, fear not to sign a party-line faculty petition—that fortifies and sustains the cancelers.
What can be done? The gravest casualty of the 1960s was adult authority, which vanished from the land around the time of 1968’s Tet Offensive. Ronald Reagan provided an apparition of authority for a while, but then Bill Clinton, frisking with an intern, restored the adolescent model. The best remedy for the cancel culture would be resistance by strong adult leaders—university presidents, newspaper publishers, heads of corporations and so on—capable of standing up to Twitter. But the odds are against such a miracle. The woke, like hyenas, hunt in packs, and those in authority are craven.
In time, McCarthyism burned itself out. The senator—censured by his colleagues in 1954—withdrew into alcoholism and died three years later. Wokeness will prove harder to kill than McCarthyism. McCarthy was a B-movie monster. Wokeness is a zombie apocalypse.
Mr. Morrow is a senior fellow at the Ethics and Public Policy Center.
OPINION
How Chinese Officials Hijacked My Company
A joint venture applied to Beijing for patents on 510 of my designs, without notifying or crediting me.
By Steve Saleen
President Trump said last month that talks for a phase 2 trade agreement with China were on the back burner. If they resume, it is more important than ever that any deal protect American companies and their intellectual property from theft by China. My experience doing business in China shows the lengths to which the Chinese government will go to steal American intellectual property.
My story began in 2016, when I entered a joint venture with the government of Rugao, a city in Jiangsu province with a population of 1.4 million. Rugao needed expertise to start an automotive manufacturing company that would create jobs.
I would bring experience, design, engineering and related technologies developed over my 40-year career in the automotive industry building race cars and high-performance street cars. My contributions to the deal were valued at $800 million, and I would maintain a majority stake in the new company along with my American partners. Rugao would bring $500 million in capital and $600 million in subsidized loans over three years to fund manufacturing sites and operations, and receive a minority stake.
The deal was a sham. It was a trap designed to secure my intellectual property, then use intimidation tactics and lies to nullify the agreement and seize control.
The first few years of the venture, named Jiangsu Saleen Automotive Technologies, were relatively smooth. I contributed three well-designed, well-engineered vehicles, hired staff, set up supply chains and launched marketing. The Rugao government contributed some of the promised capital, but nowhere near the amount needed to get operations up and running at scale.
I would later find out that while I was busy fulfilling my end of the bargain, the joint venture applied for 510 Chinese patents for my designs, technologies, trade secrets and engineering developments. Most of the patent filings didn’t even list me as the inventor. With many of these Chinese patents approved, Rugao was ready to take over the joint venture and steal the intellectual property.
Rugao is now claiming the initial valuation of my contributions was based on false information. But the city government itself requested, verified and accepted the valuation, picking at the outset three separate firms to conduct independent appraisals. The government never contested any of what these reviews found. In the past three months, Rugao has demanded the valuation companies say their findings were based on false information.
You could ask Grace Yin Xu about this—if you could find her. Grace is a Chinese national who serves as the director of corporate affairs for Jiangsu Saleen. In the early stages of the deal Grace was a liaison between the joint venture and the valuation firms. Chinese law enforcement recently instructed Grace to say that my business partner provided false information and embezzled money. She refused to lie. She entered a government building in Rugao on the morning of June 22 and hasn’t been heard from since.
Rugao law enforcement also detained Frank Sterzer, our vice president of manufacturing, for intimidation on June 29. Frank, a German citizen, was released after six hours with no explanation for the detention after he managed to contact the German Embassy using a cellphone the police forgot to confiscate.
Though my colleagues refused to lie, the government has convinced one of the three evaluation firms to do so. The Shanghai Wanlong Asset Appraisal Co. issued a public statement denying it performed a valuation report at all, and the government used that statement to declare the reports were fabricated. The government has also levied bogus embezzlement charges against my partners and me over money used to fund vehicle development—payments the government knew about and approved before they were made.
China’s aggressive theft of intellectual property is well documented. In a 2019 survey of the CNBC Global CFO Council, 1 in 5 North American corporations said China had stolen their intellectual property within the past year. By one estimate this stealing costs the American economy $600 billion annually.
China can no longer go unchecked. The U.S.-China trade deal must include protections for American companies and consumers, who ultimately will pay the price for Beijing’s theft. The Trump administration should have the power to deny access to U.S. consumer and capital markets to foreign entities found to be directly benefiting from the theft of American intellectual property.
The U.S. should also deny thieves access to banking systems and require the Securities and Exchange Commission to judge whether a company’s use of stolen intellectual property is a material condition that should be publicly reported. In addition to blocking such goods from the U.S. market, Congress should pass legislation to block banks, investment companies and other financial institutions and stock exchanges from using asset valuation reports prepared by any Chinese asset valuation firms. These reports are easily manipulated by the Chinese government.
Such measures may not be enough to protect my 40 years of work and the brand I have built. But it isn’t too late for other American entrepreneurs whose livelihoods are at stake. Congress, and the Trump administration should send a clear message to China: If you want to be in the race, play by the rules.
Mr. Saleen is a retired race car driver and founder of Saleen Inc.
OPINION
How Chinese Officials Hijacked My Company
A joint venture applied to Beijing for patents on 510 of my designs, without notifying or crediting me.
By Steve Saleen
President Trump said last month that talks for a phase 2 trade agreement with China were on the back burner. If they resume, it is more important than ever that any deal protect American companies and their intellectual property from theft by China. My experience doing business in China shows the lengths to which the Chinese government will go to steal American intellectual property.
My story began in 2016, when I entered a joint venture with the government of Rugao, a city in Jiangsu province with a population of 1.4 million. Rugao needed expertise to start an automotive manufacturing company that would create jobs.
I would bring experience, design, engineering and related technologies developed over my 40-year career in the automotive industry building race cars and high-performance street cars. My contributions to the deal were valued at $800 million, and I would maintain a majority stake in the new company along with my American partners. Rugao would bring $500 million in capital and $600 million in subsidized loans over three years to fund manufacturing sites and operations, and receive a minority stake.
The deal was a sham. It was a trap designed to secure my intellectual property, then use intimidation tactics and lies to nullify the agreement and seize control.
The first few years of the venture, named Jiangsu Saleen Automotive Technologies, were relatively smooth. I contributed three well-designed, well-engineered vehicles, hired staff, set up supply chains and launched marketing. The Rugao government contributed some of the promised capital, but nowhere near the amount needed to get operations up and running at scale.
I would later find out that while I was busy fulfilling my end of the bargain, the joint venture applied for 510 Chinese patents for my designs, technologies, trade secrets and engineering developments. Most of the patent filings didn’t even list me as the inventor. With many of these Chinese patents approved, Rugao was ready to take over the joint venture and steal the intellectual property.
Rugao is now claiming the initial valuation of my contributions was based on false information. But the city government itself requested, verified and accepted the valuation, picking at the outset three separate firms to conduct independent appraisals. The government never contested any of what these reviews found. In the past three months, Rugao has demanded the valuation companies say their findings were based on false information.
You could ask Grace Yin Xu about this—if you could find her. Grace is a Chinese national who serves as the director of corporate affairs for Jiangsu Saleen. In the early stages of the deal Grace was a liaison between the joint venture and the valuation firms. Chinese law enforcement recently instructed Grace to say that my business partner provided false information and embezzled money. She refused to lie. She entered a government building in Rugao on the morning of June 22 and hasn’t been heard from since.
Rugao law enforcement also detained Frank Sterzer, our vice president of manufacturing, for intimidation on June 29. Frank, a German citizen, was released after six hours with no explanation for the detention after he managed to contact the German Embassy using a cellphone the police forgot to confiscate.
Rugao law enforcement also detained Frank Sterzer, our vice president of manufacturing, for intimidation on June 29. Frank, a German citizen, was released after six hours with no explanation for the detention after he managed to contact the German Embassy using a cellphone the police forgot to c0nf1scate.
Though my colleagues refused to lie, the government has convinced one of the three evaluation firms to do so. The Shanghai Wanlong Asset Appraisal Co. issued a public statement denying it performed a valuation report at all, and the government used that statement to declare the reports were fabricated. The government has also levied bogus embezzlement charges against my partners and me over money used to fund vehicle development—payments the government knew about and approved before they were made.
China’s aggressive theft of intellectual property is well documented. In a 2019 survey of the CNBC Global CFO Council, 1 in 5 North American corporations said China had stolen their intellectual property within the past year. By one estimate this stealing costs the American economy $600 billion annually.
China can no longer go unchecked. The U.S.-China trade deal must include protections for American companies and consumers, who ultimately will pay the price for Beijing’s theft. The Trump administration should have the power to deny access to U.S. consumer and capital markets to foreign entities found to be directly benefiting from the theft of American intellectual property.
The U.S. should also deny thieves access to banking systems and require the Securities and Exchange Commission to judge whether a company’s use of stolen intellectual property is a material condition that should be publicly reported. In addition to blocking such goods from the U.S. market, Congress should pass legislation to block banks, investment companies and other financial institutions and stock exchanges from using asset valuation reports prepared by any Chinese asset valuation firms. These reports are easily manipulated by the Chinese government.
Such measures may not be enough to protect my 40 years of work and the brand I have built. But it isn’t too late for other American entrepreneurs whose livelihoods are at stake. Congress, and the Trump administration should send a clear message to China: If you want to be in the race, play by the rules.
Mr. Saleen is a retired race car driver and founder of Saleen Inc.
Rugao law enforcement also detained Frank Sterzer, our vice president of manufacturing, for intimidation on June 29. Frank, a German citizen, was released after six hours with no explanation for the detention after he managed to contact the German Embassy using a cellphone the police forgot to c0nf1scate.
Rugao law enf^rcement also detained Frank Sterzer, our vice president of manufacturing, for int!midation on June 29. Frank, a German citizen, was released after six hours with no explanation for the det5ntion after he managed to contact the German Embassy using a cellphone the police forgot to c0nf1sc^te.
Though my colleagues refused to lie, the government has convinced one of the three evaluation firms to do so. The Shanghai Wanlong Asset Appraisal Co. issued a public statement denying it performed a valuation report at all, and the government used that statement to declare the reports were fabricated. The government has also levied bogus embezzlement charges against my partners and me over money used to fund vehicle development—payments the government knew about and approved before they were made.
China’s aggressive theft of intellectual property is well documented. In a 2019 survey of the CNBC Global CFO Council, 1 in 5 North American corporations said China had stolen their intellectual property within the past year. By one estimate this stealing costs the American economy $600 billion annually.
China can no longer go unchecked. The U.S.-China trade deal must include protections for American companies and consumers, who ultimately will pay the price for Beijing’s theft. The Trump administration should have the power to deny access to U.S. consumer and capital markets to foreign entities found to be directly benefiting from the theft of American intellectual property.
The U.S. should also deny thieves access to banking systems and require the Securities and Exchange Commission to judge whether a company’s use of stolen intellectual property is a material condition that should be publicly reported. In addition to blocking such goods from the U.S. market, Congress should pass legislation to block banks, investment companies and other financial institutions and stock exchanges from using asset valuation reports prepared by any Chinese asset valuation firms. These reports are easily manipulated by the Chinese government.
Such measures may not be enough to protect my 40 years of work and the brand I have built. But it isn’t too late for other American entrepreneurs whose livelihoods are at stake. Congress, and the Trump administration should send a clear message to China: If you want to be in the race, play by the rules.
Mr. Saleen is a retired race car driver and founder of Saleen Inc.
Libturd says:
August 2, 2020 at 3:10 pm
Had it not been for giant tech which obviously did well in a lock down, we would have sunk already. So that’s the backdrop.
> I would argue (I hate to put out such a linear position) that it is a finite pie and the money was going to end up somewhere….. in this particular case, it has pooled in certain stocks that appear on their face to be well positioned for the current environment.
Throw in our complete and utter mishandling of Covid and the fact that we have hardly started paying for it.
> I agree. However, consider this sound bite from one of the most credible sources.
https://www.cbsnews.com/news/transcript-scott-gottlieb-discusses-coronavirus-on-face-the-nation-august-2-2020/
“I mean, part of what makes us great as a nation is our aversion to regulation and our individualism and the fact that we give so much control to local governments. But in the setting of a national pandemic, where you want more central top-down policymaking to try to keep this at bay across the entire United States and more of a uniform fashion, the things that make us great and make us dynamic as an economy work against us in this kind of a setting.”
So if the market climbs significantly further north, I’ll sell off my last 20%.
What we are witnessing is a complete disconnect of the market from reality. Throw in the fact that all of these near record overvalued megatechs are going to collapse the moment a vaccine is announced and I’m pretty confident that we are looking down the barrel of a shotgun.
I wonder if Chi will tell you something different. I am open to being ripped apart. Actually, I’d prefer it.
> I disagree, and only due to laziness cannot I not give you an exact answer. The setup for August 2020 is most analogous to February 2000-ish….. I would be focused more here…… as long as the fire hose is on, put on the Depends and keep going…..
https://money.cnn.com/2000/05/16/economy/fomc/
Chi,
What is your point?
The little creep deserves everything he got, including the chinese cavity search.
You want to be a greedy creep and sleep with the commies, don’t complain when your kidneys, right arm and private parts have been chopped off.
It’s the one thing Trump has gotten right.
Frankly, I hope all of them get ripped off. I want to see the day the CCP tell Apple they own nothing in China.
Big Deal: agreed
Man….. rough day….. neighbor cleaned out their house and gave me a bottle of Chivas…… I started at 12 and am down to the last half-cup….. some left over cold french fries, and some fish oil tabs and water…..that’s it for the Sunday nutrition…. I’m stylin’
Chivas,
Saved my day. Was in the Delaware bay years ago got wacked by a dozen jellyfish.
Stuff was like gold.
I’ll bet that Iphone circuitry could make quite a good guidance system for a missile.
Chiväs.
Just wanna say.
https://youtu.be/wP7kPYXBmyw
As if you needed another reason to avoid the establishment politicians forever-.
We have a former, and still living president, that has been logged into passenger manifests on Epstein’s plane 26 times and has been identified by two eyewitnesses to have been on pedo rape island. Somehow, this is not the front page story of every newspaper in the country.
Sick system we have elected for ourselves.
7:44 I’m shocked!! (Said no one)
Clutches pearls. We’ve got a pandemic,
Raging riots, record unemployment.
Yeah Epstein was murdered.
Chi,
Sounds like the Chinese used the intellectual property of American lawyers to seize Saleen’s patents.
They are as good as Americans at this now-locking you up in court.
Wonder if they put in the contracts a Force Majeure clause. Our current president uses that one in his contracts.
Now that the Feds have stood down, Portland is back to Peaceful Protests.
https://twitter.com/AhmedBaba_/status/1289940971489124354
Lib,
I would split Amazon out of that calculation. They are now pulling just under half their their business from AWS. That is only going to grow.
Retail and discretionary spending can drive retail and the likes of Apple, but AWS and its corporate spending is only going to grow. OpEX vs CapEX drives a lot of bottom lines.
Ex:
Here is the perfect LA soundtrack for the 80’s before the hair bands took over….
https://www.youtube.com/watch?v=cwhrQT9ID34&list=RDEM0rDHcvchc9NWBizKmH45ZA&index=23
from Bloomberg in the last hour – Lord & Taylor filed for Bankruptcy.
Fab,
I still own a little of my Amazon essentially for that reason. Though I think people still go out shopping more when this pandemic ends hurting Amazon in the short run. I don’t know of a single company priced to perfection that didn’t eventually have a terrible quarter due to their overvaluation no matter how forward looking.
As for the so-called riots, of course they were going to die down when the FEDs left. But that is not an alpha dog option.
Essex, loved Silverchair. Check out Screaming Trees if you haven’t already. Here’s a great band I bet you forgot about.
https://youtu.be/9YRRQaOnXWg
Chi, always appreciate your advice. Though, I’m gonna risk a lesser gain this time, especially comparing this to the aftermath of the tech bubble popping because I don’t think we popped yet. Not with that insane stimulus. The 2nd wave of Covid is here. How many times can we keep printing money before the world realizes we are not such a safe haven. On top of this, international has been beat down for so long, it will come back. Every sector eventually does.
Lib
It’s funny, I never forgot the Guru’s. In fact many many moons ago the cover band I was in college did a very respectable version of that very song. Funny how time flies.
I miss guitar based pop. I was a huge early fan of the Screaming Trees. In fact in 1991 I saw them play the “Rockit Club” in Tampa, FL.
It was a bar and the band was darn good. They played nearly lost you twice. Because the lead singer told the crowd, this is the reason you came out to see us. Fun night. Good times. Great band.
Essex, loved Silverchair. Check out Screaming Trees if you haven’t already. Here’s a great band I bet you forgot about.
Mark Lanegan is legendary. I saw him perform with Queens of the Stone Age a bunch in the early 2000s. Another band commonly associated with that scene that most people don’t know about is The Masters of Reality.
9:18 Chicago – favorite: https://youtu.be/gPwlB5LbGP4
BRT — legend: https://youtu.be/r091NxxvNMU
For the boomers:
https://www.youtube.com/watch?v=b3_TQKdksyc&app=desktop
Fab – PoPo tell a different story from last night, but hey felony assault and arson is all the rage these days. How much money have you given them? Aiding and abetting is still a crime too.
https://mobile.twitter.com/PortlandPolice/status/1289786851180417024
BLM isn’t Marxist after all, they are now in the protection racket. Does Pauline Walnuts know they are muscling into his territory?
https://amp.courier-journal.com/amp/5562669002?__twitter_impression=true
Former WH press sec., Joe Lockhart, on CNN urging Biden not to debate Trump. The reasons given are incredibly stupid and everyone see right through them.
Another tweet calls Trump “not a legitimate candidate” and Biden should not feel bound by traditional rules.
Only in an amazing DNC fantasy reality is a sitting US President, completing is legitimately elected first term and legitimately receiving the nomination from the GOP, not a real candidate.
For the Board – If Biden backs out of the debates, will you still vote for him? Or is it at least planting the seed in your mind that the guy clearly will hand over the Executive branch to a bunch of technocrats that are being shielded from our view?
I was unsure about my Biden bet with Lib. But now, I see some light. He may well yet not make it to Nov at the top of the ticket.
Fab – Amazons Net operating income is about 50% AWS, That has not Changed much in years, the latest quarter is no different, earnings surged due to increase in online shopping Not AWS, and they changed their strategy on delivery. Amazon is the fourth‑largest US delivery service, anyone see that fleet of news Amazon trucks parked in a lot by exit 16 on the Turnpike? FedEx has been busy around here too lots of new vans and drivers they are trying to Keep up with orders from the other online retailers.
Biggest change seems to be orders shipped from China, weeks have turned into months now, global air freight As cargo on passenger planes is permanently disrupted, it accounted for half the air cargo worldwide, with all those jets grounded and airlines on life support it will be a slow boat from chine if you order from alibaba or eBay.
homeboken – Biden is a weak and it shows. He should have command Of his campaign, he does not so the surrogates are going to be out there in force until Election Day trying to distract the public from how weak he appears, he is not the same person who used to light up the talk show circuit on Sunday morning.
Why did Biden cancel the announcement of his VP candidate this week? He is dithering and that is a sign of weakness folks, I am not going to opine on a medical issue, just pointing out weakness, which even the common person can and will see if there are no campaign debates or rallies.
So Joe Biden’s morning today is shouting at his coffee “you ain’t black!!!!!!!” and his wife Jill reminding him for the third time that he needs to finish writing his vice president announcement speech and to scratch that line that picking a vice president because her hair smells good.
Good times Joe…!!! Go get em…you’ve got half a mind to do it!
Juice – the VP delay is mostly a non issue to me. It’s a big choice in any election and without question, a bigger choice now. Essentially, the DNC is going to be announcing their POTUS candidate via that pick. If not for 2020, then certainly that pick will be the front runner for 2024, should Biden win.
I wonder if the DNC is having trouble getting someone to commit to them. Throwing in with this DNC election strategy is basically gambling with the rest of your political career. Its either gonna pay off with an eventual POTUS job or be the end of any serious elected career. Risky spot
NJ residents, even those with private health insurance, are finding large bills for C19 related visits, despite congressional rule to lock-in price of tests.
https://www.nytimes.com/2020/08/03/upshot/nj-coronavirus-medical-bill.html
This lady from Ridgewood was charged $2000 for a C19 visit at a hospital that should have been free, as they kept that C19 test off the bill:
“Across the country, Americans like Ms. Krebs are receiving surprise bills for care connected with coronavirus. Tests can cost between $199 and $6,408 at the same location. A coming wave of treatment bills could be hundreds of multiples higher, especially for those who receive intensive care or have symptoms that linger for months. Services that patients expect to be covered often aren’t.”
“In late February, an American man and his 3-year-old daughter were hit with medical bills totaling thousands of dollars for care received during a government-mandated quarantine. This was only weeks after Washington State announced the country’s first known case.
“I assumed it was all being paid for,” Frank Wucinski, the patient, said at the time. “We didn’t have a choice. When the bills showed up, it was just a pit in my stomach, like, ‘How do I pay for this?’
“Health policy experts worry that even those with good insurance could end up facing high costs. One outcome they envision: A patient goes to an in-network hospital for coronavirus treatment, but that hospital is overwhelmed and has no beds left. The patient is transferred to an out-of-network hospital, and gets significant bills as a result.”
Also the real reason for the delay is to reduce exposure time to the media. Biden has been successfully hiding from tough questions, his VP pick will have a much harder time shielding herself from the onslaught. If Biden won’t face the press, the VP is going to be forced to take the place. Again, a huge career risk to fall on Bidens sword, since he seems unwilling or unable to do it.
Re Biden VP pick, maybe that’s why Susan Rice is highly rated for the role right now? She can take the direct heat?
I’m not a Biden fan by any means, but you got to admit that letting your opponent self-destruct isn’t the worst strategy in the world.
The main problem for the Dems right now is that they haven’t been able to work properly with the former Bernie camp yet. Fighting like children. Thus no robust platform to go out there on.
AP – there is definitely a platform, it is easily found on the Biden web page. The Bernie agenda has largely been adopted. But the Bernie supporters are still smarting from 8 years of getting reamed by establishment DNC. First Hillary, now Joe.
The Bernie people are not stupid. I don’t agree with any of their policies but they see the ruse at work and likely feel sick having to support the exact opposite type of candidate they wanted
homeboken, I agree with you that the Bernie camp is justified in being recalcitrant, but I’m seeing some statements from that camp that are just childish.
There was a complete face-palm of a story yesterday about a disastrous Zoom call between the camps earlier this week, Bernie camp directors name-calling Biden, just ridiculous unprofessional stuff.
The entire Republican party is heading off a cliff full speed. They are fractured and divided with no leadership. Trump is unconcerned about the party and control of the senate, only focused on his own reelection. With each passing day Trump digs a deeper hole for his campaign. Why would any candidate running against Trump do anything but stand back and watch him blow up? This is not a Biden issue, it is just a common sense strategy.
A patient goes to an in-network hospital for coronavirus treatment, but that hospital is overwhelmed and has no beds left. The patient is transferred to an out-of-network hospital, and gets significant bills as a result.”
New Jersey Democrat has every opportunity to fix this and they decided not to.
30 yr – I think you greatly underestimate the average voter. People are generally not paying real attention to the election just yet. But if Biden bails on the debates, which will happen when the host location (colleges) say it’s not safe, then most Americans will smell what’s up.
Again, Trump won in 2016, it was narrow but he won. It’s foolish to think it can’t happen again. It most certainly can.
Read a weird article that the DNC ran an “election war game” where they played out different election scenarios. Boston Globe I think.
Anyway, Podesta played the role of Biden and in 1 scenario, Bidens wins popular vote but loses the EC. Podesta did not conceede. Instead demanded the states of PA, MI and WI send pro- Biden voters to the EC. They also said the House named Biden the POTUS, while the Senate and WH stayed with Trump as POTUS.
Lastly, they said the entire West Coast seceeded and the military was sent in.
Just a wild story to read. Imagine that? If I can verify that story somehow, I might buy some really cheap OTM SPY puts just as a lottery ticket.
re out of network.
$8.9 million for one patient for services related to COVID-19.
Lawsuits galore. Don’t forget the trial lawyers and the democrats all sleep in the same bed.
https://dorseyhealthlaw.com/the-war-between-out-of-network-providers-and-insurers-spreads-into-covid-19-territory/
Grim have a friend that started a practice. In network fir a 45 minute visit pays 65$, that is after fighting and resubmitting claims over and over. I give you an example doc is in network for emblem health, patient come in with GHI a subsidiary of emblem, navinet gives you the ok to proceed. You now get your eob and see the plan paid you $13 for the procedure as you are in network for emblem, GHI, participating in series b , this person had series d. Emblem says sorry not sorry. As a provider you say Fu I’m going out of network. Don’t even get me started on United health.
30 year,
Completely agree. I think homeboken is also right that longer he waits then less exposure to media. Sarah Palin basically overshadowed McCain the last two months. Her dopey comments and general stupidity was loved as ‘real’ by many of the pea-brained R base. Ultimately, I truly believe Biden should delay VP pick bc Orange clown is waiting to dump Pence once he sees VP candidate on other side. There is still chattering about Nikki Haley though it is being denied. BS..think about it, if Dumpy is a genius then it is in false marketing and ratings. Pence is bad, white-bread, male ratings. He needs something new to have a shot in Nov.
I wonder if there’s people out there who should be getting tested and even hospitalized but aren’t because of healthcare costs.
Some people might be infected, not getting tested because of cost/access and because they don’t want to miss work.
” Don’t forget the trial lawyers and the democrats all sleep in the same bed.”
Oh please, like lawyers really need to choose sides to be greedy animals? Outsource that career asap. Chinese lawyers seem to be doing good work holding off American claims.
“I wonder if there’s people out there who should be getting tested and even hospitalized but aren’t because of healthcare costs.”
I wonder if there’s people out there who should be getting tested and even hospitalized but aren’t because they refuse to wear masks and social distance.
“Don’t even get me started on United health.”
Medicare works everywhere. But Americans don’t want it. So just give all of us the same healthcare plan Pumpy and the men in Blue have. I’m okay with that.
Own your own business? Marry a teacher and it’s the best of both worlds. I know doctors that use their teacher wives healthcare plan.
They know what’s good. Saves money for their practice as well.
OTOH,
Keeps their wives working as well, so doubly good.
AP,
Are you kidding? Of course there are. Mainly the low income working class. A big thing freaking out the contact tracers is that the people they are tracing positive are 90+% in that socio-economic group and are not cooperating because they got no health insurance and their fear of losing jobs. Like I said before, just because you got a “hospital health system” does not mean we as a society have a “public health system”.
A big issue with the in/out of network and C19 is that a large chunk of the elderly and all of the Medicaid patients have switch to Medicare Advantage Plans where Medicare pays a capitation to the insurance company for coverage. This is where the fight is with the insurance companies and where a lot of elderly bought cheap Medicare Advantage Plans that have gigantic co-pays and deductibles, way worse then the old fashioned Medicare.
Those on seniors also on Medicaid, have dual eligibility special plans, but they are all insurance plans subcontracted by Medicare and Medicaid.
You know what’s sad? We are screwed. Even if they come out with a vaccine, the anti vax crew is going to work on social media scaring the sh!t out of people.
It’s bizarre. Vaccines have saved way more lives than they have hurt. Perception is crazy. They take an anomaly with some instances where a vaccine does harm and then blast the whole process on this basis. Meanwhile, they get in a car everyday. More people have been hurt by cars, but do you boycott it? No, the good outweighs the bad. Why can’t they take this approach with vaccines? The good outweighs the bad.
“A big thing freaking out the contact tracers is that the people they are tracing positive are 90+% in that socio-economic group and are not cooperating because they got no health insurance and their fear of losing jobs.”
There’s a certain cruelty in driving people to “return” to normalcy when the impact and risk is so uneven. The wife and I work from home. I don’t have to be out there unless I want to, and if I catch something I have decent health insurance.
If we really want to re-open then at least we should provide full access to healthcare to these workers. Otherwise it’s arguably sacrificing our own work force, which is nuts.
PUmpy,
I am not anti vaccine, but if they f it up, know this..
“A manufacturer is not liable for harm caused by a nondefective product due to its inherent or unavoidable dangerousness. Thus, if a properly manufactured vaccine will cause harmful side effects in some portion of the recipient population, the manufacturer of the vaccine is not liable for those side effects.”
Thankfully my career has taught me how to protect myself against this without it. I for one am not being a guinea pig for something they rushed out the door because some “patriot” feels they don’t need to wear a mask.
This was controllable from the beginning. If you could land every airplane in America in 4 hrs due to one building falling, you could have done it for something like this with WAY more deaths if you chose. Nope, instead they seeded the entire country with it like dandelions on a yard.
AP,
Good post. I agree.
Know a woman who is a cashier at a supermarket. Deals with muppets every day. Got corona from one of those muppets.
Now she is short of breath months later. I said see a cardiologist.
Sorry, my healthcare plan has too high a deductable. Can’t afford it.
You think her bill is high now? I just hope she is not having a heart attack and not going to go.
I had a comment go into Mod. Thank you.
Gov. Murphy conditionally vetoes bill that would permit NJ municipalities to borrow up to 30% of their prior year’s (pre-Covid) budget, with a 10-year repayment.
The article briefly notes the big issue I have been thinking about lately . . . it seems that there is going to be a tidal wave of commercial property tax appeals in NJ soon. Main street businesses have closed or will close down, and the vacancy will be difficult to re-lease. Office space with upcoming lease renewals will either not renew or reduce footprint, so I’d expect more vacancy. More vacancy = more grounds for a commercial real estate tax appeal because the value of the property is theoretically lower (if I understand property tax appeals properly, I do not know, I am not an expert).
I, personally, believe some of the negative cascading economic effects of Covid could have been reduced by a faster re-opening, alongside a mask mandate.
https://www.nj.com/coronavirus/2020/08/murphy-partially-vetoes-bill-allowing-towns-counties-to-borrow-money-amid-pandemic.html
Biden is the only guy that’ll grab PA, OH…possibly FL
He’s a known entity. His VP pick? Important only if Biden
Kicks early.
Phoenix,
That’s the message being thrown around, they are not liable, so it’s dangerous. They also leave out this part.
“To back its claim to forgo profits from the $1.2 billion collaboration in the United States, Astra has even granted the government access to financial accounts related to the venture, according to Dobber.
“There are very clear milestones before they are going to pay. Because we made the promise to manufacture the vaccine at no profit, auditors of the U.S. administration will get free access to our accounting books,” he said.”
Wouldn’t you want to be protected from future litigation if you are not profiting from this? At the end of the day, you think they want to bring harm to the masses? I highly doubt it.
Kodak Granted Chairman 1.75 Million Options The Day Before Trump’s $765 Million Loan To Company
https://www.zerohedge.com/political/kodak-granted-chairman-175-million-options-day-trumps-765-million-loan-company
“Most companies have “wide latitude” in assigning these options but three corporate governance experts told Reuters that Kodak’s move was “unusual”
I wonder if this person will be donating to the Trump re-election committee?
Check your generators and make sure you plenty of gas 75 mph winds with the trees full of leaves is bound to knock down a few tree limbs and power lines.
I do think that every FBI, SEC and Inspector General Office has a batch of investigation leads. On 1/21/2021 – The computer system that the DOJ uses for agencies to file new cases will running slow, if not at least crash as every field office start new cases.
I expect a lot of prosecutions as for those conspiratorially minded the “deep state” strikes back, for those normal people – those are cases that were gagged by the deep seeded corruption of the parties previously elected and those public servants will be doing their job.
Melbourne is going into lockdown and closing all stores that aren’t supermarkets and pharmacies.
https://www.news.com.au/finance/business/retail/coronavirus-victoria-all-retail-in-melbourne-to-shut-down-for-six-weeks/news-story/cc40f92dfa669a299b84f20bf9d7ca84
ExEssex
I bet Kamala is already studying up on the 25th Amendment to the Constitution and has plenty of friends ready to help pounce with that case secretly on her behalf so that she can “sadly and reluctantly” take over from a stale, male, pale, frail, and senile Biden.
I haven’t seen such an eagerly anticipated wedding since Anna Nicole Smith wed 89-year old billionaire J. Howard Marshall.
“AP – there is definitely a platform, it is easily found on the Biden web page. The Bernie agenda has largely been adopted.”
This is absolutely NOT the case. The two gravy trains (the DNC and the RNC) must keep that train rolling (PACs and lobby dollars). So the GOP says, the DNC has gone far left. And the DNC, not trying to alienate the moderate base but trying to get the Bernie Bros on board claims they are going further left. But you can’t if you want the corporations to back you and that’s really what the major parties are about.
Clean coal and fracking are not Bernie. Nor is “Instead of starting from scratch and getting rid of private insurance, he has a plan to build on the Affordable Care Act by giving Americans more choice, reducing health care costs, and making our health care system less complex to navigate.” Biden is absolutely further right than Obama was. Obama was much less corporatist. He simply wasn’t around long enough to realize how beneficial to the party (the nation be damned) it is to be.
Looks like they will be hitting reset on debt. This stay at home environment is absolutely destroying the economy, you will have no chance to pay off the debt now. Whoever wins the presidency is f’ed upon arrival. You would have to be nuts to take that position in this environment aka all the blame.
“With dwindling cash, cuts to education, health care and other areas are inevitable in many places. State leaders have described the situation as “unprecedented,” “horrifying” and “devastating.” Florida’s Republican governor, Ron DeSantis, compared his state’s budget cuts to the Red Wedding scene in HBO’s Game of Thrones.
Maryland Gov. Larry Hogan, a Republican, said, “Responding to this crisis has created a multiyear budget crisis unlike anything the state has ever faced before, more than three times worse than the Great Recession.”
https://apple.news/A8srrZgjbRZ63WqOXGfX2AQ
We should have never shut the economy down. It was pointless, unless you were going to enforce it with an iron fist. We shut it down and then let people f’in riot and protest. Beyond stupidity.
Why is the VP taking so long? Because as Trump continues to self destruct, the dumb DNC sees this as an opportunity to put in someone less attractive to the far left. I’m betting it’s that lying, always race card-playing, DNC sweetheart from Cali. It might have been Warren, which would win it 1000% for the Dems, but Trump is such a moron that the DNC may overplay their hand like they did in 2016. Fortunately this time, Trump has very few outs if any.
And the stupid Bernie team is not dumb enough this time to abstain or vote for anyone besides Biden. They learned their lesson last time. Big time. I know, because I was one of them and I’m pretty active on the Bernie boards. The supporters are upset and there are a few idiots among them, but by far and wide, they are backing whoever the DNC nominated.
Spending time on the Bernie Boards has changed you, Libturd.
In related news, I read somewhere a couple months ago that Costa Rica’s “free healthcare” among other things may be threatening their financial stability, and may need to change.
A$$, grass or cash, no one rides for free.
Lib covered the Bernie voters so I have nothing to add to that. But regarding the Bernie campaign managers and advisors:
Th Bernie campaign managers literally didn’t want to work with Biden of the DNC at first at all. They all but refused to. This remains a problem to today, a couple of months away from the election.
If you compare the progressive Dems with the Tea party Repubs (not a perfect comparison but it’ll do), you’ll see that the Republican party has largely capitulated to the Tea party agenda while the Dems have successfully kept the Progressives at arm’s length to a greater degree.
The progressives get most of the Twitter attention but the real power still lies with the old guard in the Democratic Party, it seems.
The Bernie progressives would get some wins with Biden, like 15 bucks minimum wage, but not nearly what they were hoping to get off the work and organizing they did. They are very disappointed and demoralized.
Again I’m talking the upper level campaign managers, etc
And this is why the Democratic Party has become more dangerous than Trump. What do you think their future is? Their party has been hijacked by people obsessed with social!sm. They will arrogantly tell you that their social!sm is different and that this time it will work. Scary stuff.
“The progressives get most of the Twitter attention but the real power still lies with the old guard in the Democratic Party, it seems.”
Completely fair assessment AP.
No one. I will look up the Caja news, but I’m fairly sure it has everything to do with their loss of 6% of their GDP due to the loss of tourism alone under Covid and less to do with something stupid like building more nuclear aircraft carriers or faster more nimble aircraft that they will carry when there are no more dogfights. With that said, I’d take their debt to GDP ratio in a minute compared to ours.
Not debating, locked in a basement for a year leading up to an election. In sports, when teams are up big with a quarter to go, and they take their foot off the gas, try to run out the clock, we call that playing to not lose. And a lot of times, the other team just goes on a huge rally and kicks their butt with momentum. I wouldn’t call this a winning strategy worth pursuing.
Caja is being impacted by unemployment. It’ll be fine. They’ll raise the rates on the wealthier to cover the shortfall. So maybe it goes from 1/3rd the cost of healthcare in the US to 1/2. And higher rated. I’ll take 1/2 price for better service.
“Murphy scaled back indoor limits to 25 people Monday, with exceptions for weddings,
funerals and religious and political events.”
https://www.nj.com/coronavirus/2020/08/murphy-reverses-indoor-gathering-rules-in-nj-after-a-spike-in-the-spread-of-coronavirus.html
Wonder what science and data allow for exceptions.
“Wonder what science and data allow for exceptions.”
That’s simple. His daughter’s wedding has passed. He only put that exception in place so he doesn’t look like a hypocrite. He’ll pull that one in the next two weeks as the second wave worsens. There will be no public school in September. Between teacher strikes (I don’t blame them) and increasing cases of kids getting sick, it simply ain’t gonna happen. All of this time wasted when they could have been working on improving remote education. Anyone want to bet?
“Can you give this paper to the person across the room with the white T-shirt and short brown hair?”
https://www.yahoo.com/huffpost/gendered-language-hey-guys-094500711.html
We were once a great nation of real men, hard work, dedication, silent and focused. The end is truly in sight. How sad.
Biden shouldn’t name a VP until the absolutely last minute.
Hah No One..good one but that guy made best decision of his life. He got to spend his last year with his head squeezed in between those two beautiful fun bags. She was really hot. Not marry material but I’m sure money did not matter much to him.
“Hey guys”,,,,……I am a college work study intern at Prudential in Newark, it is 1981 and I am 19 put in charge of a data entry pool, all women, half minority and 1 alt lifestyle guy.
I say good nite guys each night when they leave. I get called up to my managers office a week later for “harassment” counseling…….
Due to complaInts I was Told to refer to them as ladies or gentleman…..
No one, it was…”ass, grass or gas”……1970s you know…..
It really was.
Fast Eddie,
Pretty soon one will need to start off one’s meetings with “Hello comrades”
Surprised the Huffpo writer didn’t include that one.
Before long, they will also make personal pronouns like “I”, “me” “mine” illegal since they have associated individualism with whiteness and thus badness.
The novella “Anthem” is a fun read to envision where such thinking would eventually lead, a world where use of the word “I” or “me” is a capital offense.
12:33 I’m not gonna lie Kamala is Smokin.
No One: the radical left is scary. Eventually, it will be indoctrination, and political re-education camps. This has happened before.
Though the radical left isn’t quite as scary as the radical right was when they were bombing abortion clinics and murdering doctors.
No One,
Just remember, you didn’t build that. Once you understand and accept that reality, you’re on your way to being a subservient member of the gender formally known as the male species.
Though the radical left isn’t quite as scary as the radical right was when they were bombing abortion clinics and murdering doctors.
If you were to keep a score card on which side is more radical and destructive, the left is winning 73 -10.
I think the whole party thing is a joke.
But somehow think we can do better than Trump.
Dems gotta swoop in after every GOP Fiscal meltdown Anyway.
Though the radical left isn’t quite as scary as the radical right was when they were bombing abortion clinics and murdering doctors.
I would argue otherwise. The abortion clinic bombers were very focused on a specific target. The radical left goes around seeking targets and has a media that refuses to report on them. The only people who should have been more fearful of the radical right were abortion clinic workers themselves.
Although, it should be noted, the radical right did go after peoples lives. The radical left goes after their careers and livelihoods.
I’m surprised you have the score that close in your book. We’re still in Ohio St. vs. Rutgers territory.
Libturd says:
August 3, 2020 at 3:56 pm
“Though the radical left isn’t quite as scary as the radical right…”
Radical left = big (or possibly just loud), and rapidly assuming control of one of this country’s main political parties.
Radical right = tiny and insignificant, with virtually no influence on the other main political party.
I’m surprised you have the score that close in your book. We’re still in Ohio St. vs. Rutgers territory.
We’re midway through the 2nd quarter and it’s more like Ohi0 State vs. William Paterson.
Tyler Perry said last week in an interview “we need more police” so I’ve decided that he’s my favorite African American filmmaker. He’s also by America’s most popular and prolific African-American filmmaker. Yet the Academy Awards keep on ignoring him for some reason.
I have to admit I’ve only watched one of his movies so far “Madea’s Witness Protection” guest-starring Eugene Levy of whom I’ve been fond since his SCTV days in the 80s. What I did notice from that movie is that the movie had a clear sense of right and wrong, that the main character Madea is a stern advocate of tough love and improving yourself, rather looking for excuses and blame for one’s problems. I suspect that intellectuals and SJWs hate Tyler Perry for that. They prefer to give awards for nihilistic movies.
https://www.buzzfeed.com/dinosells1/i-rewatched-all-9-of-tyler-perrys-madea-movies-an-c8iu56aj0c
BRT, “The only people who should have been more fearful of the radical right were abortion clinic workers themselves.”
The amount of callous indifference and irrationality in this statement is only matched by it’s utter ignorance of History, including recent history.
“A 20 percent drop in an over inflated asset will be cleansing. The Fed should have let it fall to its true value.”
Yes and yes.
Drops of that magnitude are rare absent a rampant runup, neither of which is healthy.
As stated more than once above rapid increases in home values are not healthy for an economy including (possibly especially) for the specific area experiencing it.
The amount of callous indifference and irrationality in this statement is only matched by it’s utter ignorance of History, including recent history.
Please, enlighten us
BRT, I’m not in a position to enlighten anyone, as I’m just an interested observer like yourself.
Having said that there’s plenty of other instances of politically motivated violence. One particular painful example that comes to mind is Oklahoma City, another is the assasination of MLK, it is a long and painful list, with new incidents happening much more frequently than any of us would like to know.
My intention here, out of respect, is just to warn you that this position is not sound. Perhaps I misunderstood you?
Lefty, come on, you are better than this. There was no irrational run up in real estate, esp here in the nyc metro area. 20% drop would signify something is very very wrong with the economy. That’s a huge drop absent a bubble for real estate. This is not the stock market. That’s no correction.
leftwing says:
August 3, 2020 at 4:57 pm
“A 20 percent drop in an over inflated asset will be cleansing. The Fed should have let it fall to its true value.”
Yes and yes.
3b,
Go tell Facebook they are idiots…nyc is dead as are offices.
“Facebook Inc. (FB) plans to lease the Farley Building, a centerpiece of a large New York City project in the works from Vornado Realty Trust (VNO) the companies announced Monday afternoon, sending Vornado shares higher in after-hours trading. Facebook is taking all of the available office space, about 730,000 square feet, in the Farley Building, which stretches between 31st and 33rd streets and 8th and 9th avenues in Manhattan. Vornado described Farley as the “cornerstone” of its Penn District project, for which it has 10 million square feet of space and allocated $2 billion to develop the area near Penn Station and Madison Square Garden. “The Farley Building will further anchor our New York footprint and create a dedicated hub for our tech and engineering teams,” Robert Cookson, a Facebook vice president for real estate and facilities, said in the news release. “We look forward to being a part of this iconic New York City landmark’s future for years to come.” Vornado shares jumped more than 7% in after-hours trading after [the announcement](https://investors.vno.com/files/doc_news/2020/08/Facebook-Leases-730-000-Square-Feet-at-Vornado-s-Farley-Building-/(1/).pdf) was made. The stock has suffered amid doubts about commercial real estate in the era of COVID-19, falling 48.8% so far this year.”
See, I knew you would bring up Oklahoma City. Please show me where Timothy McVeigh was defended by the right? Deranged people are inspired by both left win and right wing causes to go on murderous rampages. These are isolated incidents involving individuals.
There’s a difference between that and widespread political movement. Right now, you have left wing mobs of hundreds and sometimes thousands of people marching the streets targeting people who do not share the same beliefs as them, vandalizing private and public property, and going after people’s livelihoods. The media provides them cover and refuses to report on the situations truthfully. Moreover, the people on the left, for the most part (of course there are exceptions), refuse to condemn them. Maybe their beliefs actually do align with them, or maybe they are afraid of being targeted by the mob themselves.
My sister-in-law just went on a second interview. She had it with her employer. They are overworking her and she has had enough. The boss told her that it’s corvid, you have nothing else to do, can’t you work at night to get it done? This is after they cut half of the office. Trying to take advantage of the situation, but they will learn that you can only push people so far.
Can’t wait to see how high my rental goes. Multi families are on fire.
https://www.zillow.com/homedetails/25-Bowdoin-St-Clifton-NJ-07013/39725038_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare
https://www.zillow.com/homedetails/41-Bowdoin-St-Clifton-NJ-07013/39725035_zpid/
BRT, thanks for your response.
“See, I knew you would bring up Oklahoma City.”
That’s because it’s a such a glaring, hard to miss, counter-argument to your original post.
“Right now, you have left wing mobs of hundreds and sometimes thousands of people marching the streets targeting people who do not share the same beliefs as them, vandalizing private and public property, and going after people’s livelihoods.”
If you weren’t a trusted colleague here on he blog I might think you are constructing this statement in bad faith.
What you are transparently trying to do, perhaps too transparently, is to conflate legitimate democratic protest with vandalism and other criminal acts. You can do better than this.
Of course there are dangers and excesses to any social movement, and during a pandemic is a specially fraught time, so I have some sympathy for and share a desire for a bit of peace and quiet. But your original post betrays a rush to make certain political points that glosses over both historical evidence and common sense.
“Spending time on the Bernie Boards has changed you, Libturd.”
Yeah, it has, but he’s still our Lib.
Nice post the other day on NJ Transit commute times and quality of life without any all caps on the Orange One. Ditto today on the markets.
No, I completely disagree with your assessment on legitimate protests being mislabeled. There’s a difference between the woke crowd that marched in Princeton and maybe even the rest of the towns here in NJ and the nonsense occurring in Seattle and Portland.
We now have examples of BLM attempting to extort businesses in various places. We have cancel culture being practiced by everyone on twitter. This issue extends far beyond protests. Right now, I consider myself a moderate but I don’t like to label my views to any part of the political spectrum. That being said, I would never publicly speak about my beliefs on tariffs, coronavirus treatments, taxes, border security, or any of the other issues that have become politicized. Why? There’s a left somewhere that will probably try to go after you in some form or another. Meanwhile, on my FB feed, it’s littered with past or current coworkers espousing leftist extremist nonsense left and right. They do it at the workplace to and even to their students. I have never made a single political statement to a student or coworker in my 12 year career as a teacher for two reasons. The first being, I don’t think it’s appropriate at all. The second, I fear retribution.
BRT,
“There’s a difference between the woke crowd that marched in Princeton and maybe even the rest of the towns here in NJ and the nonsense occurring in Seattle and Portland.”
This is a statement that’s much easier for me to agree with. But let’s keep in mind that at least the initial reports I’m hearing is that the “nonsense” has gone down significantly and we are back to “peaceful protests”. Others here might be more up to date.
“Meanwhile, on my FB feed, it’s littered with past or current coworkers espousing leftist extremist nonsense left and right. They do it at the workplace to and even to their students.”
I can’t comment on that as I don’t know the particulars.
Anyway, to loop this back to where we started, political violence, I hope you can now see why I challenged your statement? I’m actually sympathetic to repudiations of illiberal culture (cancel culture) but let’s not get ahead of ourselves and jump into or defend harmful ideologies as a response to the present moment.
https://patch.com/new-jersey/longvalley/nj-towns-graded-2020-d-how-did-your-community-do
It’s only 90 days folks, expect the unreality to increase as the hundreds of millions are applied by all that have a stake.
Now off to cook my steak! Enjoy the weather!
Pumps You freaking moron, this is old news, from
Back in May, where in the same interview Zuckerberg said WFH is here, and many of their employees would be working from home permanently.
For the last time, you are a teacher, you shouldn’t giving a flying fart about WFH, except for two reasons , work from home will negatively affect the value of your house, and your wife works for Vornado, the commercial real estate company. In short you are selfish. Now go and prepare a lesson plan for your students.
BRT – it surprises me to hear otherwise intelligent people defend the “mostly peaceful protest”.
If 10 people show up at you house, and 9 of them share opinions band views passionately but one person burns your house down, that doesn’t count as mostly peaceful in my book.
Those protesting peacefully should be celebrated, nothing more American than a protest. But if they don’t speak out against the violent outliers, then I consider them enablers.
Leftwing: Thanks. Someone who actually knows, as opposed to pumps, who then turns around and lectures you. A shocking lack of self awareness.
Patch grades – I must take issue with Hoboken getting an A+. Lived there 15 years…the schools are a disaster, I didn’t realize how bad until I switched my kids to their current suburban school.
And the local government corruption?
A+ there for sure
Lib: Sorry Lib, one of the rare times I disagree with you. The leftists are far scarier. We have already been silenced, people afraid to give their opinions etc. I won’t get into it again with left vs right regimes they are both bad, but history shows the leftist regimes have murdered far more than the right regimes. China is doing it now, and barely a peep. And the leftist regimes last a lot longer. This woke cancel culture is madness, and we are on a dangerous path right now.
and we are on a dangerous path right now.
And who is to blame for that?
Sometimes you can’t put the genie back in the bottle.
Face it guys. It’s ‘all’ scary. We’ve paid into Social Security for decades — any bets as to if it’ll be there in 15 years? I dunno. I’m not feeling either party of late, but damn if I want four more years of the orange imbecile. I’d rather not.
This just in…..The University of Pennsylvania pocketed a $3 million donation last year from a mysterious Hong Kong shell company that is owned by a Shanghai businessman with deep ties to Chinese government officials.
The donation from Xu Xeuqing, who has no apparent connection to the University of Pennsylvania and was previously embroiled in a Shanghai public corruption scandal, raises questions about the true source of the money. Documents reviewed by the Washington Free Beacon show Xeuqing has close ties to the Chinese Communist Party.
China has poured money into American universities in recent years, in part to buy influence on campuses, experts say. The donation comes as federal prosecutors have increased scrutiny on the Chinese government’s influence-buying and espionage operations at American universities.
“Unequivocally they’re using the money they’re providing the universities to garner influence there,” said Ben Freeman, the director of the Foreign Influence Transparency Initiative at the Center for International Policy. “It’s not the sole motive, but it’s one of a variety of motives.”
This is a statement that’s much easier for me to agree with. But let’s keep in mind that at least the initial reports I’m hearing is that the “nonsense” has gone down significantly and we are back to “peaceful protests”. Others here might be more up to date.
I wouldn’t be declaring peace in Portland so soon. Much of the general public there has hated the police over the last 4 years. They were battling the Portland police daily well before the feds ever came in. I seriously doubt these kids knock it off until their unemployment checks stop coming in.
Phoenix: The bought and paid for politicians on both sides are who I blame.
Anyway, to loop this back to where we started, political violence, I hope you can now see why I challenged your statement? I’m actually sympathetic to repudiations of illiberal culture (cancel culture) but let’s not get ahead of ourselves and jump into or defend harmful ideologies as a response to the present moment.
Ideology in general is harmful because it requires you to believe the same thing as someone else. The right has its share of missteps over the years. I loath the anti-vaxxer movement which is mostly a right wing movement. I couldn’t stand the anti-gay marriage movement either. But that being said, the right seems to be more focused on free speech and the 2nd amendment these days. I also don’t see a widespread movement on the right to attack whoever doesn’t share your beliefs. When it happens, I’ll be sure to oppose that as well.
“Ideology in general is harmful because it requires you to believe the same thing as someone else.”
That’s such a critical point. So many people think they have a monopoly on the truth and all that everyone else has to do is get around to agree.
As I get older I realize I’m wrong as often as not. There’s nothing necessarily wrong with being wrong, so to say. In fact it’s better to find out that you’re wrong quickly than spend an entire life in error. That’s the scientific method, I guess.
And eight on cue – The NY Times carrying water for the Biden debate cancelation campaign…
https://www.nytimes.com/2020/08/03/opinion/trump-biden-presidential-debates-2020.html
Eight – right, you know what I mean
Can someone go check on Eddie Ray?
https://www.washingtonpost.com/nation/2020/08/03/mask-mandatory-pennsylvania-shooting-police/
AP says:
August 3, 2020 at 8:24 pm
As I get older I realize I’m wrong as often as not. There’s nothing necessarily wrong with being wrong, so to say. In fact it’s better to find out that you’re wrong quickly than spend an entire life in error. That’s the scientific method, I guess.
https://m.youtube.com/watch?v=40t-E2-Ec0Y
Lots to pick apart here.
Hitting a few points here as I am short for time.
First I am grateful for the Tea Party. Its has showed the Dems what happens when you don’t shut down the extremes in the party. Keep it Centered, keep it focused. The Dems do need to drop the Misogynistic cr1P that Kamala et all are too … ambitious, emototial, coniving, etc,etc, ect. Set the same bar and post the positives.
I don’t like Bernie, never have, never will. He is the Ron Paul of the Left. Undetectable.
Just like Joel Lieberman, and every other “Independent” F off and find your own Party. That’s the same with Bloomberg and what the GOP should have said to Donnie.
Again, this election should not be GOP trying to Cuckoo into the Dem party. I love what the Lincoln Project are doing, but don’t trust them for a second. They understand that they lost their party to Trump and the Wingnuts and siding with the Dems, is the only path back. The enemy of my enemy is still a wolf in sheep clothing.
Portland has gone quiet for the most part. Dont forget you still have the right wing agitators still trying to stir things even with the Fed pull out.
Revenue shortfall by state. Nice graphic.
https://www.npr.org/2020/08/03/895384540/new-jersey-has-lost-a-greater-share-of-revenue-than-most-states-due-to-covid-19
One of the PDS ex-classmates just today retweeted propaganda arguing that China wants nuclear disarmament and that the US is trying to trick the world into thinking that China and the DPRK (North Korea) aren’t peace-loving nations.
First time I’ve seen these limousine commies take the side of North Korea. She will be studying “human rights” at Columbia, and presumably lock in her hatred of this country her parents immigrated to.
Meanwhile, another kid in the yearbook vows that in 10 years she will remain a proud SJW and will be “eating the rich”. Would the yearbook team find it equally palatable to print boasts about say, kicking homeless people?
Meanwhile, the school is still offering race therapy sessions for parents online in case they need help checking their privelege or identifying grievances. Next up, Jewish people.
I once thought I was wrong…I was mistaken:
https://www.youtube.com/watch?v=-_3dc6X-Iwo