Tuesday, November 28, 2006

The Trembling Fourth Estate

The fact that some news media have decided to call the civil war in Iraq a civil war has been certified as a newsworthy event.

It is as if they are declaring themselves brave to describe the conflict in a way objectionable to the Bush administration. Even at that, some, such as the editor of The New York Times, say they will use the dreaded phrase "sparingly." They consider this a bold move worthy of notice but it demonstrates a subservience to the government and demeans the First Amendment.

Monday, November 27, 2006

Stupidity Is No Defense

The Wall Street Journal today chronicles the resignations of two more corporate executives who guaranteed themselves big profits by backdating options grants. This time it was Mark King, CEO of Affiliated Computer Services Inc., and Warren Edwards, the company's CFO.

Edwards lawyer says, "He engaged in no intentional misconduct and acted in good faith at all times in connection with the company's longstanding and historic options granting practices." King’s lawyer says, "He acted at all times in good faith and did not engage in any intentional misconduct."

These lads were running a $5.4 billion corporation. Now they declare they were too dumb or too naïve to understand that backdating option grants is illegal unless fully and promptly disclosed to shareholders.

Thursday, November 16, 2006

Where's My Raise?

Those who drink alcohol earn 10 percent to 14 percent more at their jobs than nondrinkers, according to a Reason Foundation report by economists Bethany Peters and Edward Stringham. “Social drinking builds social capital,” said Stringham, a San Jose State University economics professor. “Social drinkers are networking, building relationships and adding contacts to their BlackBerries that result in bigger paychecks.”

Men who drink earn 10 percent more than those who don’t, and women drinkers earn 14 percent more than nondrinkers. Men who visit bars at least once per month see an income boost of 7 percent; however, the same is not true for women, according to the study.

-- Staffing Industry Report, Nov. 10, 2006