Liss Is More - Lotta ins.  Lotta outs.  Lotta strands in old Duder's head.

FInally, Bi-partisan agreement: Seniors don't need a raise

Article: Senate says no to bonus Social Security payments, Salon.com

Here is something that that majority of Senators can agree on:  Those of us on Social Security don't need more money.  I guess if you are not AIG, or the Pentagon, don't ask.

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Google Responds To Privacy Concerns With Unsettlingly Specific Apology

The Onion has a great piece on Google and privacy.

Added Schmidt, "Whether you're Michael Paulson who lives at 3425 Longview Terrace and makes $86,400 a year, or Jessica Goldblatt from Lynnwood, WA, who already has well-established trust issues, we at Google would just like to say how very, truly sorry we are."

Google Maps

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The Importance of Profits

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Competition in Health Care? Regulators shut down $79 per month Medical Group.

Article:  State Slaps Dr. Do-Good, NY Post

Dr. John Muney offers his patients everything from mammograms to mole removal at his AMG Medical Group clinics, which operate in all five boroughs.
"I'm trying to help uninsured people here," he said.

His patients agree to pay $79 a month for a year in return for unlimited office visits with a $10 co-pay.

But his plan landed him in the crosshairs of the state Insurance Department, which ordered him to drop his fixed-rate plan - which it claims is equivalent to an insurance policy.

"I'm not doing an insurance business," he said. "I'm just providing my services at my place during certain hours."

So, here is real innovation in providing affordable health care.  And what stands in the way?  Government Regulators.  This underscores a very important detail in the debate about the "lack of competition" in the health care market.  If you dig at all you find instance after instance of Government intervention aimed at homogenizing this market.  The real reason there are so little choices are that our governments make this illegal. 

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The Standard Oil Story

Here is a fascinating lecture on John D Rockefeller and Standard Oil:

Viewing this requires an investment in time of nearly an hour - although you could probably skip the first 15 minutes.  This lecturer - Larry Reed - is an Professor of Economics and he meditates on the mythology of the Robber Barrons and pokes holes in what we have been taught as scripture:  that Rockefeller became rich by nefarious means and that the rest of us were screwed along the way.  And that is why the Standard Oil company needed to be broken up.  It was a "monopoly" and it was bad for the economy.

Could it be that he was just better at what he did than his competitors?  Is it possible that the country as a whole benefited from the lower prices and ready supply that his efficient production methods provided?  Very interesting, contrarian view. 

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Filed under  //   Free Market   Rockefeller   Standard Oil  

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Pole dancing as an Olympic sport? Count me in.

Article:  Pole dancing could be recognized as a sport and headed to the Olympics, NY Daily News

A group of pole-dance advocates is hoping for a "test" event in 2012 and a more formal pitch four years after that, in Rio de Janeiro, according to The Associated Press.

Really, is this so far fetched?  Ice Dancing?  Synchronized Swimming?  Pole Dancing?  It seems made of the same cloth.

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Eagles let Westbrook go. (Why NFL contracts are different than other sports)

As reported in the NY Times, the Eagles released Brian Westbrook after 8 seasons.  Apparently his body is breaking down and the Eagles don't think he is going to be a productive in the future as he was in the past.  Probably a reasonable conclusion.  

But he spent much of last season on the sidelines. Westbrook missed eight games with a pair of concussions and an ankle injury. Westbrook had only two touchdowns in 2009.

But doesn't he have a contract, you might ask?  Don't they still have to pay him?  Not so, in the NFL:

He was due $7.25 million next season.

You see, in the NFL they only pay you if you are on the team.  If the release you, then they don't have to pay you.  Sure puts an interesting light on all the reports on the "value" of NFL player contracts.  5 years at $5 million per year is reported as a "$25 million contract".  But the reality is, besides any bonus money paid up front, there is nothing guaranteed by these contracts.

Jeff Lurie, the Eagles owner said this:
''Brian Westbrook is one of the most electrifying players in the history of this franchise and is certainly also one of the most popular,'' Eagles chairman Jeffrey Lurie said. ''He was personally one of the my favorite players to watch each and every Sunday and his playmaking abilities, leadership and values will be missed.''

Loosely translated that means, "I like the guy, but I am not paying him $7m next year.  Don't let the door hit you on the way out."

Sure wish the NBA had that kind of deal.  Then the Knicks could dump Eddy Curry like the Eagles dumped Westbrook.

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Filed under  //   Eagles   Sports   Westbrook  

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GM CEO pays himself $9m of taxpayer's money.

Here is a troubling report from the "Whose Minding The Store" department at Bailout City:

Whatever happened to the $1 a year men? When the federal government gave Chrysler $1.5 billion to stay in operation, CEO Lee Iacocca worked for $1 until the taxpayers were received their money back.

GM disclosed that it will pay new CEO Ed Whitace, the former head of AT&T (T), a total of $9.1 million in compensation for the year. His base will be $1.7 billion. He will receive $5.3 million in stock beginning in 2012 and $2 million in restricted stock. It is a rich package by any standard, and is particularly generous for a man who has never been in the car industry.

As pointed out in 24/7 Wall St.  Ed Whitacre fired the previous CEO and said he would start a search for a replacement.  Instead, he takes the job himself and sets his pay at Goldman Sachs levels.  And this for a guy who has no experience in the Auto Industry.

Did someone forget that the taxpayers own 70% of GM?

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Obama’s 2011 Budget Proposal: How It’s Spent - Interactive Graphic

Note how the largest decrease is in the Health segment. When you mouse over the big red square you find that this is a decrease in Medicaid funding to the States. Hmmm. Letting the States fend for themselves in figuring out how to pay for a Federal Mandate like Medicaid. I guess that is one way to go.

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History, Distilled - The Pour Blog - NYTimes.com

History, Distilled

The polar explorer Ernest Shackleton.</Frank Hurley, courtesy Scott Polar Research Institute The polar explorer Ernest Shackleton.

People don’t travel like they used to. The Associated Press reports that five crates of Scotch whisky and two of brandy have been recovered by a team restoring a hut in the Antarctic that was used a century ago by the polar explorer Ernest Shackleton.

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