Sunday, December 25, 2005

Happy Holidays!

Today is Christmas and the first day of Channukah. While I am not religious, my family celebrates Christmas as a secular holiday to get the family together and to enjoy a delicious meal. For those who hold greater significance in the day, as well as those who do not, I send you Merry Christmas and Happy Channukah greetings, despite Bill O'Reilly and the Christian Right's assertion of a "War on Christmas". Here's a news flash, Mr. O . . . simply because retailers want to wish ALL of their customers a joyous holiday doesn't take away your right to say "Merry Christmas". Retailers have customers of many (and no) religious convictions. It would not be in their best interests to assume everyone shares the same holidays. It is not a matter of offending, but rather of good business practice.

So regardless which of the many winter holidays you may celebrate, Happy Holidays to all!

Friday, July 01, 2005

A Man's Home is His Castle . . . Until Wal-Mart Wants It!

The Supreme Court of the United States decided last week in a 5-4 vote, that there is no sanctity in one's home. The court ruled that government can exercise it's power of eminent domain to forcibly remove people from their homes and small businesses in order to turn the property over to commercial developers.

I understand that eminent domain is necessary for public infrastructure, like highways, dams, airports, etc. However, there is something inherently wrong about the government acting as a eviction agent for private interests. Those pushing others out of their domiciles and businesses have everything to gain from such actions. The developer gets the property of others to establish a money-making enterprise, and the municipality gains increased tax revenues. The guy with the least ability to fight back has now lost the right to do so.

It is my prediction that once people start losing their homes so that Wal-Mart and its ilk can open a new SuperCenter, the public will see what a travesty this is. This could go down with the Dred Scott decision as one of the worst rulings to ever come from the SCOTUS.

Crooked CEO Ebbers Forfeits Assets!

I have long maintained that corporate crooks who think they are above the law should not only go to jail, but also forfeit the assets they gained by there illegal shenanigans. This week was a big win in that regard.

Bernard "Bernie" Ebbers, the 63-year-old former CEO of WorldCom, was convicted last March of fraud, conspiracy and making false regulatory filings that led to the $11-billion accounting fraud and bankruptcy of his company. He still faces sentencing on those convictions, and experts say he is likely to be sentenced to at least 20 years in prison.

If he ever does get out, he will not be financially secure because of his crime. In a settlement with investors and the company, Ebbers will now forfeit almost all of his holdings. He must give up his multi-million dollar Mississippi home and move out by October 31. He also will be stripped of his stakes in a golf course, a lumber company, a trucking company, a rice farm, and 300,000 acres of timberland in Mississippi.

When first accused, this criminal retreated to his church in Mississippi, and reportedly made a tearful plea that he had done nothing wrong. Tell that to the families who are still financially devastated by his fraudulent activity, made to enrich himself at everyone else's expense. Crooks like Ebbers are as bad for the economy, and the nation, as the terrorists who attacked us. It is fitting that he joins the thousands of employees and investors he cheated, by losing his home and wealth.

With the Rigas' of Adelphia in jail, and Ebbers to soon join them, I can only hope that the feds continue to follow the threads of deception in the telecom crash, and find evidence to implicate former Qwest CEO, Joseph P. Nacchio. Under his "leadership", Qwest was left on the brink of bankruptcy, restating income of the Nacchio years. This arrogant S.O.B. left town with over a hundred million dollars of investors money in his pocket, decimated the state's economy and now is living the high life back in New Jersey. Joe, be afraid, be very afraid. I hope you are next!

Thursday, June 23, 2005

Stupid Government Tricks . . . European Style

Microsoft Corporation is a company that people either love or hate. On the good side, the company has brought a defacto standard of computing to the masses, making it easier for people to use computers and exchange data. The reverse side of the coin is that the company has used dubious marketing practices to gain near-monopoly status in computer desktop operating systems, word processing, spreadsheets, presentation software, and web browsers.

Love it or hate it, Microsoft's products are used by everyone from the shop owner down the street, to grandma; from heads of state to heads of terrorist organizations. This high profile combined with marketing that pushes the envelope has made it the target of government probes and lawsuits around the globe. This brings us to the outcome of the latest bit of nonsensical government intervention against the company.

In 2004, antitrust regulators in the European Union decided that by bundling its Media Player software with Windows XP, Microsoft has effectively blocked competing media software from the marketplace. The remedy imposed was to fine the firm 497-million euros (equivalent to $608-million), and force it to offer a version of Windows sans Media Player.

The new version, Windows XP N, has hit the market with a resounding thud. According to reports, there is little to no interest by consumers in the product. Many stores across Europe are refusing to even order it, based on the lackluster demand. Computer manufacturers are not offering it on their new products. In other words, government has forced a company to manufacture a product that no one wants.

I'm glad to see that the government of the good old U.S.A. isn't the only one to make ridiculous mandates.