Tag Archives: news

News Roundup – London Fire, Bill Cosby, US Open

I’m still having some trouble understanding how a relatively modern apartment tower goes up in flames. Today, apartment complexes are supposed to be built so that the fire is contained. In the United States, modern buildings are supposed to have multiple fire suppression systems including sprinklers. It does not appear that this was the case in this building built in 1979. Initial estimates of five or 10 people who died appear to be completely wrong. Latest estimates put over 58 people dead. Now, it appears that the finger-pointing has started. The relief effort has been described as “absolute chaos”. This is bad.

A mistrial has been declared in the Bill Cosby assault case. I am sorry but I find this whole thing extremely sad. Bill Cosby was one of my heroes. In the late 1960s and early 1970s, it was rare to see a Black face on TV. The constant was Bill Cosby. He was playing an international spy or he was on the Tonight Show with Johnny Carson. He was funny, thoughtful and always portrayed a black man who was positive. He developed a Saturday morning cartoon based on some of the characters in his stand up. Again, it was funny and positive. I think is pretty clear that Bill Cosby has done something wrong. When over 60 women over a 40 to 50 year period stand up and say similar stories, something is going on. In my opinion, my hero, Bill Cosby, is a serial rapist. It breaks my heart to say that.

Michelle Carter was found guilty of involuntary manslaughter for telling her boyfriend who was trying to kill himself to get in the truck which was filled with lethal carbon monoxide gas via cellphone.

On the other hand, Officer Jeronimo Yanez was found NOT guilty of second degree manslaughter after shooting an unarmed Black man, Philando Castile. His girlfriend streamed the aftermath on Facebook. I would just like to know when it is NOT okay to shoot a black man.

The final round of the U.S. Open begins in a couple of hours. As with any major sporting event, there is lots of discussion. Most of it is nonsense. Most the experts thought that Jason Day, Rory McIlroy or even Dustin Johnson would be contending for this US Open. They are all at home. Now, Brian Harman, who won earlier this year, Tommy Fleetwood, a European player who has never won in the US, Brooks Koepka, is one on those extremely long hitters who the pundits thought should win and win often and Justin Thomas, who shot a 63 yesterday, are all in contention. This should make for an interesting final round.

Obama the Steady – January Jobs Report

There was a ton of good news in the job report that was released last week.

From BLS:

Total nonfarm payroll employment rose by 257,000 in January, and the unemployment rate
was little changed at 5.7 percent, the U.S. Bureau of Labor Statistics reported today.
Job gains occurred in retail trade, construction, health care, financial activities,
and manufacturing.

The economy continues to slowly but surely add more and more jobs. I wish we could have done this sooner and quicker but we have a Congress that doesn’t want to do anything that would help the average American worker. Can you spell – STIMULUS? An additional stimulus would have avoided the pain that millions of Americans felt because they were out of work for months or years.

59 straight months with private section adding jobs
Term Private Sector Jobs Added (000s)
Carter 9,041
Reagan 1 5,360
Reagan 2 9,357
GHW Bush 1,510
Clinton 1 10,885
Clinton 2 10,070
GW Bush 1 -844
GW Bush 2 381
Obama 1 2,018
Obama 2 5,5421 (124 months into 2nd term: 11,084 pace.)
Read more at http://www.calculatedriskblog.com/2015/02/public-and-private-sector-payroll-jobs.html#zK1jpdLecMH5Db00.99

Let’s let this last table sink in for a while. With all of the bad-mouthing of Obama he is on pace to have created more jobs during his last 4 years in office than any other president over the last 35 years. This includes Reagan.

Continue reading Obama the Steady – January Jobs Report

News roundup: NFL, Alibaba, income growth for the middle class

Well, looks like the NFL ended the week on a high note. Commissioner Roger Goodell held a huge press conference. Basically, he said all the right things. If there are no other major revelations that come out within the next 7-10 days, I think that Roger Goodell has saved his job. Let’s be serious. The NFL and the Baltimore Ravens did everything they could to try to minimize the Ray Rice incident. From ESPN“Outside the Lines” interviewed more than 20 sources over the past 11 days — team officials, current and former league officials, NFL Players Association representatives and associates, advisers and friends of Rice — and found a pattern of misinformation and misdirection employed by the Ravens and the NFL since that February night.

Alibaba’s IPO appears to be a huge success. Even Yahoo!, a major investor in Alibaba, is going to make some serious money.

The middle class finally appears to be making some headway in the income department. It appears that median income for the middle class has risen for the first time in many years.

I read a really cool article which questions how beautiful women are used by men. We are talking about those high-class VIP parties which can be found in Los Angeles, Paris, New York and other major cities. At these parties you always find beautiful models. Yet, the models are not paid to be there. On the other hand, there are some very wealthy and powerful men who have paid through the nose to be there. Anyway, the article is extremely interesting.

Americans continue to sign up for the Affordable Care Act.