Month: June 2007

Foreclosures hammer Atlanta Area

Let’s assume $200 for property taxes, association fees, insurance, etc.

This gives a rate over 10.4%.

The banking industry needs to be reregulated.

South metro area hit hard by foreclosures
Planners, credit counselors cite subprime interest rates, job losses, lack of affordable housing

By ERIC STIRGUS
The Atlanta Journal-Constitution
Published on: 06/07/07

Teresa Weathers may have bitten off more of the American Dream than she can afford.

Like an increasing number of homeowners, she’s facing foreclosure.

Recently laid off from her job as a mortgage loan processor and unable to find more work, the 39-year-old Clayton County resident is two months behind on the $1,345 monthly mortgage on her $125,000 four-bedroom townhouse.”

The number of foreclosures is particularly startling in the communities south of Atlanta. Nearly 1 in 20 homes in Clayton County is in foreclosure, the highest ratio in the region, according to a recently released Atlanta Regional Commission report.

This will be ugly

Your FDA at Work: Poisoning your Pets Edition

This is VERY significant. Acetaminophen is VERY toxic to cats and dogs, and cause liver failure. (It can with humans too, but only with a significant OD)

This is the free market ownership society that the ‘Phants want us to live in.

Texas lab finds pain medicine in pet food
By Karen Roebuck
TRIBUNE-REVIEW
Tuesday, June 5, 2007

The U.S. Food and Drug Administration is investigating a Texas laboratory’s finding of acetaminophen in dog and cat food, an agency spokesman said Monday.

‘We’re very interested in being able to test these samples ourselves to determine the levels of those contaminants,’ said FDA spokesman Doug Arbesfeld. ‘What’s significant is these things are there. They don’t belong there.'”

The pain medication is the fifth contaminant found in pet foods during the past 2 1/2 months and can be toxic or lethal to pets, especially cats. It is not known if any animals became sick with acetaminophen poisoning, or died from it.

‘We were looking for cyanuric acid and melamine, and the acetaminophen just popped up,’ Donna Coneley, lab operations manager for ExperTox Inc. in Deer Park, Texas, told the Pittsburgh Tribune-Review yesterday. ‘It definitely was a surprise to find that in several samples.'”

Israeli Phased Array AEW Aircraft

This is significant, because we will be seeing many smaller nations acquiring C3I capabilities that rival those of the USAF and USN on much smaller platforms.

We are seeing technological developments equivalent to those that have occurred in computing, which allow for weapons design and development without having a building full of vacuum tubes.

Israel gets second AEW Gulfstream-29/05/2007-Flight International

The Israeli air force’s second of four Gulfstream G550 business jets to be modified for use as an airborne early warning aircraft has arrived at Ben-Gurion international airport in Tel Aviv following a mid-May ferry flight from Savannah, Georgia via Edinburgh, Scotland.

Israel Aerospace Industries’ Elta Systems subsidiary will now install a Phalcon-derivative conformal AEW array, with the aircraft to join a first example (right) now in flight test. The Israeli air force’s future AEW fleet will join its three G550s already configured for signals intelligence duties, with these being prepared for operational service. Singapore also recently confirmed its selection of four G550-based AEW aircraft, with these to be in service by 2010.

Hillary’s Closest Advisor is a Union buster

Mark Penn is VERY bad news, even if not for the union busting.

He is a serious proponent of Dems running as Republicans (DLC politics).

It’s nice to see that this is getting mainstream coverage now.; I’ve been hearing this on the Blogosphere for months.

A Top Clinton Aide Draws Criticism From Unions – New York Times

By STEVEN GREENHOUSE

Published: June 5, 2007

The presidents of two large labor unions have written to Senator Hillary Rodham Clinton to complain that Mark Penn, her pollster and chief strategist, is chief executive of a public relations firm that is helping a company fight a unionization drive.

In the letter sent Friday, which a labor official released yesterday, James P. Hoffa, president of the Teamsters, and Bruce Raynor, president of Unite Here, wrote that they did not want to see Mrs. Clinton or the Democratic Party embarrassed by the anti-union activities of Mr. Penn’s firm, Burson-Marsteller, one of the nation’s leading public relations companies.

“If Hillary is pro-worker and pro-union, she will certainly take steps to rein in Mr. Penn,” Mr. Hoffa said in an interview. “He cannot serve two masters, working for a pro-union candidate and working for anti-union companies.”

In the letter, Mr. Hoffa and Mr. Raynor said, “It is with distress that we write you today,” adding that they valued Mrs. Clinton’s positions on many worker-related issues.

They said the public relations firm’s “activities in the effort to undermine workers’ right to organize at Cintas, a campaign our unions are involved in, is particularly disheartening.” Four years ago, the two unions began a major drive to unionize 17,000 workers at the Cintas Corporation, the nation’s largest uniform rental company. Cintas, helped by Burson-Marsteller, has responded with a vigorous — and thus far successful — effort to resist unionization.

Mr. Hoffa and Mr. Raynor, whose union represents apparel, hotel and restaurant workers, noted that they had learned of Burson-Marsteller’s anti-union activities in an article last week in The Nation magazine. Their action comes as Mrs. Clinton prepares to speak at an A.F.L.-C.I.O. forum on Saturday in Detroit.

…..

FCC Prudes Get Spanked by Court

The court basically said that Dick Cheney told Pat Leahy to go Cheney himself, he made the word “Fuck” acceptable.

The FCC Jihad was bad policy anyway, it was just driven by the need to pander to the Republithug base.

Court Rebuffs F.C.C. on Fines for Indecency – New York Times

By STEPHEN LABATON
Published: June 5, 2007

WASHINGTON, June 4 — If President Bush and Vice President Cheney can blurt out vulgar language, then the government cannot punish broadcast television stations for broadcasting the same words in similarly fleeting contexts.

That, in essence, was the decision on Monday, when a federal appeals panel struck down the government policy that allows stations and networks to be fined if they broadcast shows containing obscene language.

Although the case was primarily concerned with what is known as “fleeting expletives,” or blurted obscenities, on television, both network executives and top officials at the Federal Communications Commission said the opinion could gut the ability of the commission to regulate any speech on television or radio.

Kevin J. Martin, the chairman of the F.C.C., said that the agency was now considering whether to seek an appeal before all the judges of the appeals court or to take the matter directly to the Supreme Court.

The decision, by a divided panel of the United States Court of Appeals for the Second Circuit in New York, was a sharp rebuke for the F.C.C. and for the Bush administration. For the four television networks that filed the lawsuit — Fox, CBS, NBC and ABC — it was a major victory in a legal and cultural battle that they are waging with the commission and its supporters.

Under President Bush, the F.C.C. has expanded its indecency rules, taking a much harder line on obscenities uttered on broadcast television and radio. While the judges sent the case back to the commission to rewrite its indecency policy, it said that it was “doubtful” that the agency would be able to “adequately respond to the constitutional and statutory challenges raised by the networks.”

The networks hailed the decision.

…..

Reversing decades of a more lenient policy, the commission had found that the mere utterance of certain words implied that sexual or excretory acts were carried out and therefore violated the indecency rules.

But the judges said vulgar words are just as often used out of frustration or excitement, and not to convey any broader obscene meaning. “In recent times even the top leaders of our government have used variants of these expletives in a manner that no reasonable person would believe referenced sexual or excretory organs or activities.”

Adopting an argument made by lawyers for NBC, the judges then cited examples in which Mr. Bush and Mr. Cheney had used the same language that would be penalized under the policy. Mr. Bush was caught on videotape last July using a common vulgarity that the commission finds objectionable in a conversation with Prime Minister Tony Blair of Britain. Three years ago, Mr. Cheney was widely reported to have muttered an angry obscene version of “get lost” to Senator Patrick Leahy on the floor of the United States Senate.

“We find that the F.C.C.’s new policy regarding ‘fleeting expletives’ fails to provide a reasoned analysis justifying its departure from the agency’s established practice,” said the panel.

…….

Another Republican to Cop a Plea

Two aids of Norton, huh? Wonder when she’s going to do the perp walk.

I have a unique perspective on all this. I went to college, and served on the student senate with, Tony C. Rudy, Tom Delay’s former deputy chief of staff.

I once called %$#&ing stupid on the floor of the senate.

Tony was actually a nice guy once he got off the senate floor.

That being said, I hope that they all roll. They are a part of a cancer that needs to be excised from the body politic.

TheHill.com – Former Norton aide to plead guilty in Abramoff case

June 06, 2007

The Hill has learned that Italia Federici, a one-time political aide to former Interior Secretary Gale Norton, has agreed to plead guilty to tax evasion and obstruction of Congress as part of the investigation into the lobbying activities of Jack Abramoff.

The Republican activist will be the second person with ties to Norton to plead guilty in the Abramoff investigation. Former Deputy Interior Secretary J. Steven Griles pleaded guilty to lying to Congress about his relationship to Abramoff and Federici. He is to be sentenced later this month.

The Real Estate Crash, Continued

Note that these are estimates, and the RE industry always has rosy predictions.

This is going to be worse than they are stating, and then you need to add about 5% onto that for the incentives that are being used to move houses now.

Home price drop to be worse than expected, say Realtors – Jun. 6, 2007

Expected drop in home prices nearly double estimate of two months ago; recovery more than year away.
By Chris Isidore, CNNMoney.com senior writer
June 6 2007: 1:01 PM EDT

NEW YORK (CNNMoney.com) — The outlook for home prices this year – already expected to post the first drop on record – got worse Wednesday as an industry group cut its forecasts for sales and prices for 2007.

The National Association of Realtors said it now sees the median price of existing homes sold falling 1.3 percent this year. That’s almost twice the 0.7 percent drop forecast just two months ago, and is worse than the 1.0 percent drop in prices it estimated in May.

As recently as March, the group was forecasting a 1.2 percent rise in the median existing home price for this year.
Home prices: Where the growth is – and isn’t

New home prices are now expected to sink 2.3 percent, according to the group’s report, much worse than its previous forecast of essentially flat prices for the year.

If home prices fall as is now expected, it will be the first time that’s occurred in the nearly 40 years the group has tracked home sales.

The Realtors also now expect there to be 6.18 million existing homes sold this year, down 1.7 percent from its estimate a month ago, and down 4.6 percent from 2006.

Rental Properties Suffering Too in Florida

My guess is that this would apply to everywhere that things got bubblicious.

Houses won’t sell, and the construction workers are going away, so you can’t rent them.

There was a real estate crash in Florida in the late 1920s. It took 10 YEARS for prices to recover, and it is considered a major contributor to the stock market crash of ’29.

Nothing to see here, move along.

Rentals aplenty, but not discounts

By DEVONA WALKER

devona.walker@heraldtribune.com
“For Rent” signs litter lawns in almost every Southwest Florida neighborhood, from canal-front homes in Port Charlotte to the 1960s-style Florida ranch homes off Bahia Vista Street in Sarasota.

The apartment and home rental vacancy rate is at nearly 10 percent because of the mass exodus of construction and service sector workers from the area.

Normally, this would be a sign of rental discounts to come. However, because of a near-perfect storm of issues fueled by rising property taxes and insurance costs, combined with the run-up in property prices over the past few years, that has not materialized.

This Article is Incomplete. It’s Not About the Fed, It’s about Overseas Investment.

A lot of this is foreign and domestic investors who are chasing higher rates of return now that rates in Europe are increasing.

It is this, which will produce downward pressure on the US Dollar, which will get our interest rates going up.

The US is dependent on foreign money flowing in for its solvency. We are like a pre-crash Argentina.

Rate woes sack stocks

Major gauges slip as investors eye ECB rate hike, rise in unit labor costs, Lacker comments, home price outlook.
By Alexandra Twin, CNNMoney.com senior writer
June 6 2007: 11:07 AM EDT

NEW YORK (CNNMoney.com) — Stocks tumbled Wednesday morning as investors absorbed reports that suggested rising inflation, higher interest rates and a bigger-than-expected drag from the housing market going forward.

The Dow Jones industrial average (down 92.49 to 13,502.97, Charts) lost around 100 points, or more than 0.8 percent 90 minutes into the session. The broader S&P 500 index (down 13.41 to 1,517.54, Charts) lost 0.8 percent. The Nasdaq composite (down 22.94 to 2,588.29, Charts) gave up 0.9 percent.
Stocks fell Tuesday as cautious remarks by the Federal Reserve chairman, rising Treasury yields and a strong reading on the economy raised worries that the central bank could raise interest rates later this year.

….

Julie Amero Gets New Trial!!!

This was bullsh%$ from the beginning. The school did not update its filters, and she was told not to turn off her computer under any circumstances.

There appears to be prosecutorial misconduct too.

Hat tip to Lindsay Beyerstein. She really was the person who got coverage of this.

Of course, the poor woman is still out legal fees, and a child. The stress of the trial led to a miscarriage.

TheDay.com – Substitute Teacher Gets New Trial on Porn Charges
By Karen Florin Published on 6/6/2007

A New London Superior court judge this morning overturned the conviction of Julie Amero, who was found guilty of exposing Norwich schoolchildren to pornography on a computer, and has granted Amero a new trial.

Judge Hillary Strackbein said the state had conducted further forensic information that the jury had not heard at the trial. The information, according to defense experts, was that the computer had generated pornographic popups and that Amero, a substitute teacher, was not at fault. Amero had been convicted of four counts of risk of injury to a minor and faced up to 40 years in prison.

She has has been the subject of national attention as of result of the conviction, and seemed relieved after Attorney William Dow explained the judge’s ruling.

“I have a great team behind me and I feel very comfortable with the rulings,” she said before getting into a car with her husband and leaving.

“It was a porn trap,” said Chip Neville, a retired computer sciences professor who had petitioned the office of the Chief State’s Attorney to review the verdict.

“We’re all exposed to this. We wander into the wrong site innocently.”

Neat Tech: Fuel Cell to replace APU

This is potentially neat, but I’m not seeing where the hydrogen is coming from. Carrying compressed bottles would probably be a lot heavier than a conventionally fueled APU.

Boeing in fuel-cell project-05/06/2007-Flight International
Boeing is collaborating with Sandia National Laboratories to determine the feasibility of using a hydrogen-powered fuel cell to provide back-up in aircraft. This is a new task under a co-operative research and development deal between the aircraft manufacturer and the laboratory signed in 2002.

The project focuses on use of a polymer electrolyte membrane fuel cell instead of an auxiliary power unit, batteries or ram-air turbine to provide emergency electrical power for critical aircraft systems. Livermore, California-based Sandia is leading evaluations of electrical and environmental requirements, fuel cell efficiency, and hydrogen storage options and issues.

…..

High Altitued Torpedo Mod Tested

My guess is that because they are going from a prop (P-3) to a turbofan (Boeing 737 Derivative), they want to spend less time in low altitude, where turbofans are less efficient.

Lockheed backs LongShot for P-3 enhancement-05/06/2007-Washington DC-Flight International
By Graham Warwick Launch of a torpedo from high altitude using a wing kit has been demonstrated by the US Navy as it develops requirements for the capability, which is expected to extend the life of its anti-submarine warfare aircraft. Lockheed Martin’s high-altitude ASW weapons concept (HAAWC) was demonstrated on 24 May with the release of a Mk54 torpedo equipped with the company’s LongShot wing kit from the weapons bay of a US Navy Lockheed P-3 over the AUTEC test range in the Bahamas.
….

Oh Crap.

Let’s hope that this is hot pursuit and not an escalation.

This is not good.

Turkish Officials: Troops Enter Iraq

By SELCAN HACAOGLU

ANKARA, Turkey (AP) — Hundreds of Turkish troops crossed into northern Iraq early Wednesday to chase Kurdish guerrillas who attack Turkey from bases there, Turkish security officials said. One official said the troops had returned to their bases by the end of the day, but Turkey’s foreign minister denied they had ever entered Iraq.

The senior security officials, speaking on condition of anonymity because they were not authorized to speak to the media, characterized the raid as a “hot pursuit” raid that was limited in scope. They told The Associated Press it did not constitute the kind of large incursion that Turkish leaders have been discussing in recent weeks.

One official said several thousand troops went less than two miles inside Iraq and were still there in late afternoon. “It is a hot pursuit, not an incursion,” one official said.

Another official said by telephone it was “not a major offensive and the number of troops is not in the tens of thousands.” He also said the Turkish troops went into a remote, mountainous area.

A third official, based in the border region, said 600 commandos entered Iraq, and were backed up by several thousand troops along the border. He said the commandos raided Iraqi territory across from the Turkish border town of Cukurca before dawn after rebels opened fire from Iraqi soil on Turkish patrols.

….

Kudos to Hizzoner Mike Bloomberg

I still can’t believe that I just said that.

Seriously though, this “terrorist threat” is less serious and credible than my attempts to lose my virginity in high school, when I was president, and founder, of the wargaming club.

Needless to say, he’s not going to win any Republican friend, as the only issue the ‘Phants have left is screaming like a baby about terrorism.

wcbstv.com – Bloomberg On JFK Plot: ‘Stop Worrying, Get A Life’

Marcia Kramer
Reporting

(CBS) NEW YORK While questions continue to arise about the alleged plot to blow up a fuel pipeline beneath JFK Airport and surrounding neighborhoods, some are questioning why New York City Mayor Michael Bloomberg hasn’t had a louder voice since the plot was foiled on Saturday.

On Monday, Bloomberg finally weighed in, but his response was not what some would have expected.

“There are lots of threats to you in the world. There’s the threat of a heart attack for genetic reasons. You can’t sit there and worry about everything. Get a life,” he said.

That “What, me worry?” attitude pretty much sums up Bloomberg’s advice to New Yorkers on the terror plot. As far as he was concerned, the professionals were on it, so New Yorkers shouldn’t let it tax their brains.

“You have a much greater danger of being hit by lightning than being struck by a terrorist,” he added.

F%$# the Phone Company

Specifically AT&T.

These guys are still thinking tarriff.

Save the Internet Blog » Blog Archive » Ed Whitacre: Gone But Not Forgotten

AT&T chief Ed Whitacre handed over the keys to his replacement Randall Stephenson yesterday, but not before giving a rousing pep talk to fellow executives in the company’s San Antonio board room. We just received exclusive video of the AT&T chairman’s parting speech.

>> Watch Big Ed’s Swan Song

Ed Whitacre Bids Fond Farewell:

Watch the Video

“There’s a problem. It’s called Net Neutrality,” Whitacre told the heirs to AT&T’s telecommunications empire. “Well, frankly, we say to hell with that. We’re gonna put up some toll booths and start charging admission.”

This statement echoes those made in the press by Whitacre and Stephenson over the last two years.

Despite claims of poverty whenever pressed to offer better services, these AT&T execs are privately gloating over more than $35 billion in gross profits over the last 12 months. Moreover, Whitacre (and now Stephenson) are pressuring Congress to allow them to provide privileged Web access to their customers to companies that pay them a special fee.

The phone and cable companies claim that this sort of discriminatory “double dipping” — charging both consumers and content providers — is necessary to provide the high-speed services that Americans demand. But it’s a fundamental shift in the neutral way the Internet has always worked. In essence, it takes away user choice — the most basic tenet of the Internet — and hands it to AT&T.

“Will Congress let us do it?” Whitacre asks his colleagues. “You bet they will — cuz we don’t call it cashin’ in. We call it ‘deregulation.’

Boeing Testing “Smart Rotor”

Interestingly enough, Kaman has had a similar system, albeit not one with piezoelectrics, and likely with a much slower response time, on its intermeshing rotor helos for years.

Smart rotor on trial-05/06/2007-Flight International
Boeing is to test a smart helicopter rotor in a NASA windtunnel to verify the vibration, noise and performance improvements expected in forward flight with in-blade active flaps. The modified MD 900 commercial-helicopter rotor system was tested on a whirl tower in early 2004, demonstrating reduced hover vibration.

Testing of the 10.4m (34ft)-diameter rotor at NASA Ames Research Center’s 12 x 24m windtunnel in California will be conducted under a $3 million US Defense Advanced Research Projects Agency contract. The smart-material actuated rotor was built and whirl-tested under a previous DARPA programme.


Each of the rotor’s five blades has an active trailing-edge flap

Talk About Screwing Up In Reverse.

Since only hemorrhoids, cancer, and Dick Cheney are more popular than the Avignon president, it won’t cost him anything to pardon Libby.

Impeach Dick Cheney now. Impeach George Bush tomorrow.

Critical phrase in bold at end.

In the West Wing, Pardon Is A Topic Too Sensitive to Mention – washingtonpost.com

By Peter Baker
Washington Post Staff Writer
Wednesday, June 6, 2007; Page A01

The sentence imposed on former White House aide I. Lewis “Scooter” Libby yesterday put President Bush in the position of making a decision he has tried to avoid for months: Trigger a fresh political storm by pardoning a convicted perjurer or let one of the early architects of his administration head to prison.

The prospect of a pardon has become so sensitive inside the West Wing that top aides have been kept out of the loop, and even Bush friends have been told not to bring it up with the president. In any debate, officials expect Vice President Cheney to favor a pardon, while other aides worry about the political consequences of stepping into a case that stems from the origins of the Iraq war and renewing questions about the truthfulness of the Bush administration.

The White House publicly sought to defer the matter again yesterday, saying that Bush is “not going to intervene” for now. But U.S. District Judge Reggie B. Walton indicated that he is not inclined to let Libby remain free pending appeals, which means the issue could confront Bush in a matter of weeks when, barring a judicial change of heart, Cheney’s former chief of staff will have to trade his business suit for prison garb. Republicans inside and outside the administration said that would be the moment when Bush has to decide.

“Obviously, there’d be a significant political price to pay,” said William P. Barr, who as attorney general to President George H.W. Bush remembers the controversy raised by the post-election pardons for several Iran-contra figures in 1992. “I personally am very sympathetic to Scooter Libby. But it would be a tough call to do it at this stage.”

At the same time, some White House advisers said the president’s political troubles are already so deep that a pardon might not be so damaging. Those most upset by the CIA leak case that led to the Libby conviction already oppose Bush, they noted. “You can’t hang a man twice for the same crime,” a Republican close to the White House said.

Yes, but this is near treason.