Chapter 9 bankruptcy: Answers to key questions | Detroit Free Press | freep.com:
"Can union contracts be abandoned?
Yes. In fact, Chapter 9 bankruptcy makes it easier to slash labor deals than in Chapter 11 corporate bankruptcy.
Can city retirees lose their pensions?
Probably not completely. But there’s a chance that their monthly pension payments could be reduced. Orr is pursuing “significant” cuts to pensions. This will invite legal challenges.
Can city retirees lose health care insurance?
Yes. Or benefits could be reduced. Orr wants to shift retirees to the federal government’s new health care exchanges or to Medicare.
What happens to general obligation bondholders?
They can expect a fraction in return for their original investments. In most cases, bond insurers incur these losses."
Sunday, June 16, 2013
8th Grader Suspended Over NRA T-Shirt Could Get Jail Time
8th Grader Suspended Over NRA T-Shirt Could Get Jail Time"In April Breitbart News reported that West Virginia 8th grader Jared Marcum was suspended for refusing to take off an NRA t-shirt he wore to school.
And details now indicate the 8th grader could face a $500 fine and up to a year in jail for obstruction charges.
Fox News reports that on June 13 Marcum appeared before a judge "and was officially charged with obstructing an officer."
Moreover, the judge has allowed "the prosecution to move forward" with its case against Marcum.
Logan City Police officer James Adkins says that Marcum refused to quit talking when asked to remove the shirt.
The officer said this hindered his ability to do his job.
Marcum's father remains confident and stands by his son: "Me, I'm more of a fighter and so is Jared and eventually we're going to get through this.
I don't think it should have ever gone this far."
Marcum has to appear in court again on July 11 if his attorney can't get the charges dismissed before then. "
Superintendent: Muskegon school staff could face 7 percent pay cut, 70 job losses
Superintendent: Muskegon school staff could face 7 percent pay cut, 70 job losses | MLive.com:
"The district recently informed the state it will have a negative budget balance at the end of this year. Originally estimated at $2.6 million, the deficit at the end of this fiscal year is now expected to be between $2 million and $2.1 million, according to Superintendent Jon Felske."
"The district recently informed the state it will have a negative budget balance at the end of this year. Originally estimated at $2.6 million, the deficit at the end of this fiscal year is now expected to be between $2 million and $2.1 million, according to Superintendent Jon Felske."
Buena Vista Township Clerk Gloria Platko attends first board meeting since racial slur recording was released, says her life was destroyed
Buena Vista Township Clerk Gloria Platko attends first board meeting since racial slur recording was released, says her life was destroyed | MLive.com:
"Platko, who has been asked by numerous groups and citizens to step down from her position, said after the meeting,
”I’m here. That’s what the citizens put me here for. I’m not resigning and I’m not backing down.”
"Platko, who has been asked by numerous groups and citizens to step down from her position, said after the meeting,
”I’m here. That’s what the citizens put me here for. I’m not resigning and I’m not backing down.”
Emergency Manager: Detroit to Default on $2.5B Debt
Emergency Manager: Detroit to Default on $2.5B Debt:
"Kevyn Orr said Friday that Detroit is asking creditors to take about 10 cents on the dollar of what they're owed. Underfunded pension claims will get less."
"Kevyn Orr said Friday that Detroit is asking creditors to take about 10 cents on the dollar of what they're owed. Underfunded pension claims will get less."
White House Eyes $5.5 Billion Tax Hike on Airline Industry
White House Eyes $5.5 Billion Tax Hike on Airline Industry | Heartlander Magazine:
"The Obama administration is pushing for new taxes on the airline industry that would amount to an estimated hike of $14 per flight.
But that’s only a drop in the bucket of what the White House proposes, said one industry insider.
“Altogether, the White House budget proposal would increase taxes on airline customers and airlines by a whopping 29 percent, adding another $5.5 billion to their $19 billion annual tax burden,” said Vaughn Jennings, managing director for government and regulatory communications for Airlines for America."
"The Obama administration is pushing for new taxes on the airline industry that would amount to an estimated hike of $14 per flight.
But that’s only a drop in the bucket of what the White House proposes, said one industry insider.
“Altogether, the White House budget proposal would increase taxes on airline customers and airlines by a whopping 29 percent, adding another $5.5 billion to their $19 billion annual tax burden,” said Vaughn Jennings, managing director for government and regulatory communications for Airlines for America."
Chrysler completely freezes pension plan for salaried employees
Chrysler completely freezes pension plan for salaried employees | Crain's Detroit Business:
"Chrysler described the pension freeze as “consistent with industry trends.”
Last year, for example, General Motors Co. announced a complete freeze of pension plans offered to salaried employees.
Chrysler’s pension plans are significantly underfunded.
That includes those covering hourly employees, who are not affected by the freeze.
At the end of 2012, the automaker’s pension plans had $26 billion in assets and $34.8 billion in liabilities, according to the company’s 2012 Form 10-K report."
"Chrysler described the pension freeze as “consistent with industry trends.”
Last year, for example, General Motors Co. announced a complete freeze of pension plans offered to salaried employees.
Chrysler’s pension plans are significantly underfunded.
That includes those covering hourly employees, who are not affected by the freeze.
At the end of 2012, the automaker’s pension plans had $26 billion in assets and $34.8 billion in liabilities, according to the company’s 2012 Form 10-K report."
This is what happens when a plane is landing and the runway disappears
This is what happens when a plane is landing and the runway disappears | Technically Incorrect - CNET News:
"So I am always reassured when the voice from the cockpit is one of ineffable calm.
Sometimes, though, pilots must be suffering nervous conniptions when the weather turns on them and, say, the runway disappears as they are landing.
This quite pulsating footage was uploaded to YouTube this week.
It shows a Boeing Business Jet landing in rain.
The windshield wipers are working furiously.
Suddenly the runway seems to vanish."
"So I am always reassured when the voice from the cockpit is one of ineffable calm.
Sometimes, though, pilots must be suffering nervous conniptions when the weather turns on them and, say, the runway disappears as they are landing.
This quite pulsating footage was uploaded to YouTube this week.
It shows a Boeing Business Jet landing in rain.
The windshield wipers are working furiously.
Suddenly the runway seems to vanish."
Saturday, June 15, 2013
True cost of Britain's wind farm industry revealed
True cost of Britain's wind farm industry revealed - Telegraph:
"A new analysis of government and industry figures shows that wind turbine owners received £1.2billion in the form of a consumer subsidy, paid by a supplement on electricity bills last year.
They employed 12,000 people, to produce an effective £100,000 subsidy on each job."
"A new analysis of government and industry figures shows that wind turbine owners received £1.2billion in the form of a consumer subsidy, paid by a supplement on electricity bills last year.
They employed 12,000 people, to produce an effective £100,000 subsidy on each job."
RightMichigan.com || Benchmarks and Targets
RightMichigan.com || Benchmarks and Targets:
"Goeff Hansen (District 34, Hart): Eligible for re-election in 2014. Voted "yes" on 2011-SB-693, and is indicating that he will vote "yes" when 2013-HB-4714 comes up. I have it on good authority that the Michigan Campaign for Liberty has this guy flagged as a priority target for primary ouster, and this vote is just one aggravating factor amongst many."
"Goeff Hansen (District 34, Hart): Eligible for re-election in 2014. Voted "yes" on 2011-SB-693, and is indicating that he will vote "yes" when 2013-HB-4714 comes up. I have it on good authority that the Michigan Campaign for Liberty has this guy flagged as a priority target for primary ouster, and this vote is just one aggravating factor amongst many."
The Swedish riots: What really happened?
The Swedish riots: What really happened?:
"But over the past few decades, Sweden has also seen some of the fastest and largest growths in inequality among OECD countries (pdf).
Hardest hit have been poor, largely immigrant communities.
Consider that 23 per cent of young people within that demographic are not achieving good enough grades to enter upper secondary education, while around 46 per cent of non-European immigrants to Sweden are unemployed."
"But over the past few decades, Sweden has also seen some of the fastest and largest growths in inequality among OECD countries (pdf).
Hardest hit have been poor, largely immigrant communities.
Consider that 23 per cent of young people within that demographic are not achieving good enough grades to enter upper secondary education, while around 46 per cent of non-European immigrants to Sweden are unemployed."
MICHAEL WALSH ON NSA AND THE SCANDALANCHE:
Instapundit » Blog Archive » MICHAEL WALSH ON NSA AND THE SCANDALANCHE
MICHAEL WALSH ON NSA AND THE SCANDALANCHE:
As former federal prosecutor Andrew McCarthy has pointed out, the courts have held that, while the contents of phone conversation are private, the records — who called whom, when, from where and for how long — of such calls are not.
What makes the news scary are the revelations of what else Team Obama’s been up to. Follow the bouncing scandal ball:
* On Benghazi, the administration has simply clammed up, keeping suspicions alive that there’s much more to this story. A handful of intrepid reporters have bucked the tide, but others have stopped asking why no help was sent and where President Obama was that night. Because . . .
* In clear violation of the First Amendment, the administration — allegedly angered about national-security leaks — seized phone records from the AP and Fox News in a what looks like a transparent attempt to put the fear of God into them and keep others incuriously toeing the party line, which mostly amount to: Trust us. But can we? Consider . . .
* The strange goings-on at the Environmental Protection Agency, where recently-departed chief Lisa Jackson was using a fictitious e-mail account in order to communicate privately without all those pesky “transparency” requirements. How widespread is this practice? What to make of word that Health Secretary Kathleen Sebelius was also using “secondary” e-mail accounts?
* Then came the IRS bombshell — something every taxpaying American can relate to. That a supposedly neutral collection agency with powers far beyond what we entrust to law enforcement would cheerfully target Tea Party and other righty groups for special scrutiny is the stuff of Orwellian nightmares. And although the IRS has tried to blame “rogue elements” in its Cincinnati office, whistleblowers are coming out of the woodwork to point the finger directly at the White House.
All this adds up to a perfect storm of mistrust, now exacerbated by the fears of the surveillance state that has mushroomed since the panicky post-9/11 “reforms.” Thus Americans now fear a culture of suspicion among top law-enforcement officials, who treat more than 300 million overwhelmingly law-abiding Americans as potential criminals, subject to snoops and pat-downs.
And when that leviathan falls down on the job — as it did in failing to spot the Tsarnaev brothers — then the trade-off between liberty and security becomes a very bad bargain indeed.
Friday, June 14, 2013
Pathological Altruism
Best of the Web Today: Pathological Altruism - WSJ.com
It also can produce bad public policy:
Ostensibly well-meaning governmental policy promoted home ownership, a beneficial goal that stabilizes families and communities. The government-sponsored enterprises Freddie Mac and Fannie Mae allowed less-than-qualified individuals to receive housing loans and encouraged more-qualified borrowers to overextend themselves. Typical risk–reward considerations were marginalized because of implicit government support. The government used these agencies to promote social goals without acknowledging the risk or cost. When economic conditions faltered, many lost their homes or found themselves with properties worth far less than they originally had paid. Government policy then shifted to the cost of this "altruism" to the public, to pay off the too-big-to-fail banks then holding securitized subprime loans. . . . Altruistic intentions played a critical role in the development and unfolding of the housing bubble in the United States.
The same is true of the higher-education bubble. As we've argued, college degrees became increasingly necessary for entry-level professional jobs as the result of a well-intentioned Supreme Court decision that restricted employers from using IQ tests because of their "disparate impact" on minorities.
Kentucky Wildcats offer scholarship to seventh grader Jairus Brents
Kentucky Wildcats offer scholarship to seventh grader Jairus Brents - ESPN:
"Kentucky offered a scholarship to seventh-grader Jairus Brents on Thursday after the 13-year-old participated in a football camp at the university this past weekend."
"Kentucky offered a scholarship to seventh-grader Jairus Brents on Thursday after the 13-year-old participated in a football camp at the university this past weekend."
Sen. Landrieu Says S. Dakota Borders Canada While Calling Border Fence 'Dumb'
Sen. Landrieu Says S. Dakota Borders Canada While Calling Border Fence 'Dumb':
“A smart fence, which is what Senator McCain and I want to build--since he’s from Arizona, I think he knows more about this than the Senator from South Dakota who only has a border with Canada and that is quite different,” Landrieu said.
South Dakota does not share a border with Canada. It does, however, share borders with North Dakota, Wyoming, Montana, Minnesota, Nebraska and Iowa.
Landrieu went on to argue that the 700-mile border double-fence that Congress passed into law a few years ago is a “dumb fence.”
“A smart fence, which is what Senator McCain and I want to build--since he’s from Arizona, I think he knows more about this than the Senator from South Dakota who only has a border with Canada and that is quite different,” Landrieu said.
South Dakota does not share a border with Canada. It does, however, share borders with North Dakota, Wyoming, Montana, Minnesota, Nebraska and Iowa.
Landrieu went on to argue that the 700-mile border double-fence that Congress passed into law a few years ago is a “dumb fence.”
Mike Rogers will not run for U.S. Senate | MLive.com
Mike Rogers will not run for U.S. Senate | MLive.com
Growing up in Brighton, my mom ran the local Chamber of Commerce and my dad was a high school teacher, football coach and local official. Their selfless actions ingrained in me the importance of and honor in public service, and the satisfaction of working with others to improve our community.
It has been such a privilege and honor to represent the people of Michigan's Eighth Congressional District. In recent years, and with my constituents' confidence, we have been able to work in a bipartisan way to make a difference and accomplish great things for our state and country. We eliminated federal taxes on education savings accounts and protected the sanctity of military funerals. Together we continue to fight the massive government takeover of health care, and work to provide real cost savings and preserve the doctor patient relationship. We've worked to reduce America's dependence on foreign oil and led bipartisan efforts to protect the Great Lakes from invasive species like Asian Carp.
And now, as Chairman of the House Intelligence Committee, we've worked in a bipartisan way to dramatically improve the oversight of our national security programs and pass significant national security measures into law. We have also advanced important cyber security legislation and measures to crack down on cyber thieves like China who are stealing good-paying jobs from Michigan and around the nation.
I am truly humbled by the encouragement I have had to run for the United States Senate. After careful and thorough deliberation and long talks with my family, friends and supporters, I have determined that the best way for me to continue to have a direct impact for my constituents and the nation is to remain in the House of Representatives. For me, the significance and depth of the impact I can make on my constituent's behalf far outweighs the perceived importance of any title I might hold.
I believe that my constituents sent me to Washington to do something - to work to help improve the economy, crack down on wasteful Washington spending and keep America safe. With these marching orders, I believe that from my current position I am best able to have a real, positive impact on protecting our nation and her citizens. And with complex challenges in Syria, Iran, North Korea, North Africa, Afghanistan, and China - intelligence issues will continue to be at the forefront of American national security concerns in the coming years.
I am committed to doing my best on your behalf to work with Republicans and Democrats in a non-partisan way to advance America's national security interests in these areas, while conducting aggressive oversight of President Obama's new national security team and the policies this Administration is implementing. Of course, without strong national security, America cannot have a strong economy and good-paying jobs back home.
We in Michigan have the good fortune of having a deep bench of Republican leaders who would make great United States Senators. I have full confidence that Michigan's Republican primary voters will select a candidate who can win and who will represent what has united the Michigan Republican party for generations: support for the free market capitalism that has created the strongest economy and biggest middle class on earth, a limited government, a strong American foreign policy, and a robust defense of our nation's security.
Once the Senate primary has concluded, I look forward to doing everything I can to elect a Republican U.S. Senator from Michigan who will work to keep Michigan moving forward and help us get a handle on out-of-control Washington spending and debt.
Thank you again for your generous support, friendship and encouragement. I look forward to continuing to work together.
Sincerely,
Mike Rogers
Growing up in Brighton, my mom ran the local Chamber of Commerce and my dad was a high school teacher, football coach and local official. Their selfless actions ingrained in me the importance of and honor in public service, and the satisfaction of working with others to improve our community.
It has been such a privilege and honor to represent the people of Michigan's Eighth Congressional District. In recent years, and with my constituents' confidence, we have been able to work in a bipartisan way to make a difference and accomplish great things for our state and country. We eliminated federal taxes on education savings accounts and protected the sanctity of military funerals. Together we continue to fight the massive government takeover of health care, and work to provide real cost savings and preserve the doctor patient relationship. We've worked to reduce America's dependence on foreign oil and led bipartisan efforts to protect the Great Lakes from invasive species like Asian Carp.
And now, as Chairman of the House Intelligence Committee, we've worked in a bipartisan way to dramatically improve the oversight of our national security programs and pass significant national security measures into law. We have also advanced important cyber security legislation and measures to crack down on cyber thieves like China who are stealing good-paying jobs from Michigan and around the nation.
I am truly humbled by the encouragement I have had to run for the United States Senate. After careful and thorough deliberation and long talks with my family, friends and supporters, I have determined that the best way for me to continue to have a direct impact for my constituents and the nation is to remain in the House of Representatives. For me, the significance and depth of the impact I can make on my constituent's behalf far outweighs the perceived importance of any title I might hold.
I believe that my constituents sent me to Washington to do something - to work to help improve the economy, crack down on wasteful Washington spending and keep America safe. With these marching orders, I believe that from my current position I am best able to have a real, positive impact on protecting our nation and her citizens. And with complex challenges in Syria, Iran, North Korea, North Africa, Afghanistan, and China - intelligence issues will continue to be at the forefront of American national security concerns in the coming years.
I am committed to doing my best on your behalf to work with Republicans and Democrats in a non-partisan way to advance America's national security interests in these areas, while conducting aggressive oversight of President Obama's new national security team and the policies this Administration is implementing. Of course, without strong national security, America cannot have a strong economy and good-paying jobs back home.
We in Michigan have the good fortune of having a deep bench of Republican leaders who would make great United States Senators. I have full confidence that Michigan's Republican primary voters will select a candidate who can win and who will represent what has united the Michigan Republican party for generations: support for the free market capitalism that has created the strongest economy and biggest middle class on earth, a limited government, a strong American foreign policy, and a robust defense of our nation's security.
Once the Senate primary has concluded, I look forward to doing everything I can to elect a Republican U.S. Senator from Michigan who will work to keep Michigan moving forward and help us get a handle on out-of-control Washington spending and debt.
Thank you again for your generous support, friendship and encouragement. I look forward to continuing to work together.
Sincerely,
Mike Rogers
WayPoint Academy shutting its doors, board cites achievement, financial problems
WayPoint Academy shutting its doors, board cites achievement, financial problems | MLive.com
Fisher said a series of controversies that hit the school recently didn’t enter into the decision to close. Last October, the school’s former director, Barbara Stellard, was charged with inflating student numbers to obtain more funding for the school. She subsequently pleaded guilty.
Last December, former staff member Eva Amaya sued the school, saying she lost her job because she had informed GVSU officials of Stellard’s student count inflation, triggering the state’s investigation. Her lawsuit is still pending.
In January, embattled Portage Public Schools official Patricia Koeze took over as superintendent of WayPoint. Koeze had been implicated in an “inappropriate relationship” with Portage’s superintendent who ended up resigning.
Portage Public Schools officials said they didn’t know Koeze had started a new job at Waypoint while she was still on the Portage payroll. Portage officials issued a statement saying Koeze submitted her “involuntary resignation” from Portage on Jan. 21 a week after she began at WayPoint. Koeze ended up resigning from WayPoint on Jan. 24 after just 10 days on the job.
Reedell Holmes, the man Koeze replaced as superintendent, ended up filing a breach of contract lawsuit against the school in late February. His claim that he’s owed more than $67,000 has not been settled.
California, Illinois on Brink of Pension Crisis; New Actuarial Rules Will Force States to Admit Problems
Mish's Global Economic Trend Analysis: California, Illinois on Brink of Pension Crisis; New Actuarial Rules Will Force States to Admit Problems:
"Many states, especially California and Illinois, have had severe pension underfunding problems for many years.
However, new actuarial pension rules will finally force states to admit the problem. Thus, it should not be surprising that talk of "technical bankruptcy" and “service insolvency” is growing."
"Many states, especially California and Illinois, have had severe pension underfunding problems for many years.
However, new actuarial pension rules will finally force states to admit the problem. Thus, it should not be surprising that talk of "technical bankruptcy" and “service insolvency” is growing."
Funding for Common Core implementation ends with Gov. Snyder's signature on budget
Funding for Common Core implementation ends with Gov. Snyder's signature on budget | MLive.com
"Michigan joined Indiana as the only other state to halt implementating the Common Core State Standards for mathematics and language arts after Gov. Rick Snyder signed the state's budget Thursday."
"Michigan joined Indiana as the only other state to halt implementating the Common Core State Standards for mathematics and language arts after Gov. Rick Snyder signed the state's budget Thursday."
Muskegon church leader charged with alleged criminal sexual conduct involving multiple victims over 40-year span
Muskegon church leader charged with alleged criminal sexual conduct involving multiple victims over 40-year span | MLive.com:
"A 76-year-old Muskegon man who’s been an active church leader for decades has been charged with three felonies for alleged criminal sexual conduct with multiple victims that spanned over 40 years, authorities said.
Carlton Lindberg Johnson has been charged with three felonies in relation to criminal sexual conduct he allegedly committed with multiple victims, according to Muskegon County Chief Assistant Prosecutor Tim Maat."
"A 76-year-old Muskegon man who’s been an active church leader for decades has been charged with three felonies for alleged criminal sexual conduct with multiple victims that spanned over 40 years, authorities said.
Carlton Lindberg Johnson has been charged with three felonies in relation to criminal sexual conduct he allegedly committed with multiple victims, according to Muskegon County Chief Assistant Prosecutor Tim Maat."
Muskegon Farmers Market groundbreaking to reveal new Community Foundation matching grant
Muskegon Farmers Market groundbreaking to reveal new Community Foundation matching grant | MLive.com: ".......announce a matching grant from the Community Foundation for Muskegon County.
.... The matching grant will help fund the $3 million project spearheaded by the Downtown Muskegon Development Corp., the nonprofit that spearheaded plans to move the market earlier this year."
.... The matching grant will help fund the $3 million project spearheaded by the Downtown Muskegon Development Corp., the nonprofit that spearheaded plans to move the market earlier this year."
U.S. Census: Muskegon County gets older; median age half a year older than in 2010
U.S. Census: Muskegon County gets older; median age half a year older than in 2010 | MLive.com:
"The median age of Muskegon County residents is 6 months older than it was two years ago, according to recently released U.S. Census estimates.
Muskegon’s median age in 2012 was 38.7 years old, up from 38.2 in 2010.
The statewide median age increased during the same time, 39.4 years old, up half a year from 38.9 in 2010.
Related: More young adults are staying in Michigan while number of school age kids decreases
Muskegon is still several years the senior of its south and southeast neighbors, Ottawa County (35 years old) and Kent County (34.6)."
"The median age of Muskegon County residents is 6 months older than it was two years ago, according to recently released U.S. Census estimates.
Muskegon’s median age in 2012 was 38.7 years old, up from 38.2 in 2010.
The statewide median age increased during the same time, 39.4 years old, up half a year from 38.9 in 2010.
Related: More young adults are staying in Michigan while number of school age kids decreases
Muskegon is still several years the senior of its south and southeast neighbors, Ottawa County (35 years old) and Kent County (34.6)."
Overcriminalization: The Government vs. YOU
Overcriminalization: The Government vs. YOU:
"A young girl was fined $535… for rescuing a wounded woodpecker.
A businessman was jailed for years… for shipping lobsters in plastic bags rather than cardboard boxes.
A Maryland father and building engineer faced a years-long legal ordeal… after being unfairly targeted under the Clean Water Act."
"A young girl was fined $535… for rescuing a wounded woodpecker.
A businessman was jailed for years… for shipping lobsters in plastic bags rather than cardboard boxes.
A Maryland father and building engineer faced a years-long legal ordeal… after being unfairly targeted under the Clean Water Act."
Thursday, June 13, 2013
Poof! Media drop coverage of IRS scandal
Poof! Media drop coverage of IRS scandal | WashingtonExaminer.com:
"That was fast--but not unexpected. The media frenzy over the IRS scandal, which dominated the Big Three networks for two weeks, has practically disappeared from the news, according to a new report."
"That was fast--but not unexpected. The media frenzy over the IRS scandal, which dominated the Big Three networks for two weeks, has practically disappeared from the news, according to a new report."
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