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He Cringed, But He Bought It!
One of my brothers-in-law is a liberal "in the highest form!!" We've mutually, silently, decided that national politics is an off-limits topic!! I don't know for sure, but I think 'Dave' was a Kool-Aid drinker in the last campaign and voted for Fluffy obama. That being said, Dave did violate his own--if misdirected--principles and bought a conservative book for my enjoyment. While on one of his "el-cheapo" shopping excursions, he found the book, "Sarah; How a Hockey Mom Turned Alaska's Political Establishment Upside Down" by Kaylene Johnson, at the local Dollar Store. Although the purchase probably caused great personal consternation, I thank you, Dave!!
Another "Camel's Nose Under The Tent Flap??" [I've always thought that prominent executives' pay far too high for their accomplishments! While the fascist government gets more control of lives of the citizens, this action may be warranted-though I fear it'll have a "trickle-down" effect and eventually control all but the lowest of payrates and salaries; probably eliminating bonuses altogether.]
When Stanley O'Neal stepped down as CEO of Merrill Lynch in November 2007, the company sent him out the door with $162 million, effectively doubling his earnings from nearly five years as chief executive. Over the next five quarters, Merrill lost more than $30 billion from deals that were largely brokered during O'Neal's tenure. Merrill's stock price was at $44 when O'Neal became CEO, $66 when he left in 2007, and $11 a year after he left, when a hobbled Merrill was taken over by Bank of America (BAC). O'Neal publishes his golf scores, but he's never taken responsibility for Merrill's implosion—or offered to return any of his money. And shareholders have no way of demanding it back. This, of course, is a familiar, if grotesque, Wall Street story. Charles Prince earned nearly $160 million for serving as CEO of Citigroup (C) for four years, even though he left the bank crippled when he departed in 2007. The company's stock price was $47 when he took over in 2003 and $38 when he left in 2007. Today, with Citi a ward of the state thanks to disastrous moves under Prince, the stock wallows at less than $5. Martin Sullivan pulled a similar stunt during three years as CEO of AIG, signing off on derivatives deals that ultimately wrecked the company, brought the global economy down with it, and required an $85 billion taxpayer bailout. Sullivan's reward? $100 million. Nice work if you can get it. CEOs weren't always entitled to nine-digit paydays for 11-digit losses, and we may finally be at a pivot point where CEOs get paid for building and running healthy companies, not just for showing up. The Federal Reserve and Treasury Department are developing rules that would link executive pay at 5,000 banks to the riskiness of their loan portfolios and long-term performance.
Humana Has It Right-So Why The "Heartburn?"
- Text of the original letter from Humana to it's members: Dear Lily: With the media reporting daily on Congress' and President Obama's efforts to enact meaningful health reforms this year, many Humana Medicare Advantage (MA) members are contacting us with questions. Members just like you want to know what these reforms might mean for their Medicare health plan and how they can get involved to help protect Medicare Advantage. We are working diligently to ensure that our nation's leaders understand how proposed reforms might affect you. At the same time, we have created the Partner program to keep you informed about proposed Medicare changes and help you get involved so your voice is heard in Washington. Your opinions matter to us, to others on Medicare, and to your elected officials. There are two things you can do now to help show Congress the importance of Medicare Advantage: • Opt into the Partner program. Becoming a Partner is easy. Just complete the accompanying, postage-paid form and follow the instructions to fold and mail it back. As a Humana Partner, you will join more than 50,000 Humana Medicare Advantage members who are receiving information about this issue and learning how to get involved to protect your Medicare health plan coverage. • Let your Members of Congress know why Medicare Advantage is important to you. Congress is considering significant cuts to Medicare Advantage now, and your Members of Congress will want to know why this program is valuable to you because these cuts could mean higher costs and benefit reductions to many on Medicare Advantage. We've made it easy for you to have your voice heard. Just call (877) 698-9228 (toll-free) or visit http://www.humanapartners.com/ for additional information about this issue and how you can offer helpful input to your elected officials. Leading health reform proposals being considered in Washington, D.C., this summer include billions in Medicare Advantage funding cuts, as well as spending reductions to original Medicare and Medicaid. While these programs need to be made more efficient, if the proposed funding cut levels become law, millions of seniors and disabled individuals could lose many of the important benefits and services that make Medicare Advantage health plans so valuable.
On behalf of Humana's 28,000 employees, I would like to thank you/or being a Humana member~ We look forward to partnering with you to ensure the Medicare Advantage program remains strong, so you can have peace of mind about your health coverage-now and in the future! Regards,
[Signed] Philip Painter, M.D. Chief Medical Officer Humana Medicare
[Now we find that health insurance companies aren't free to express an opinion opposing a government give-away program that will impede their business operations.]
obama=McCarthy??
I think not!!! obama the Fascist is and will, be far more damaging than the Wisconsin Communist-republicRAT senator Joseph McCarthy.
McCarthy experienced a meteoric rise in national profile on February 9, 1950, when he gave a Lincoln Day speech to the Republican Women's Club of Wheeling, West Virginia. His words in the speech are a matter of some debate, as no audio recording was saved. However, it is generally agreed that he produced a piece of paper that he claimed contained a list of known Communists working for the State Department. McCarthy is usually quoted to have said: "The State Department is infested with communists. I have here in my hand a list of 205—a list of names that were made known to the Secretary of State as being members of the Communist Party and who nevertheless are still working and shaping policy in the State Department." This guy was a relatively obscure senator who rose to prominence by "finding communists under every rock" in the State Department.
Finally--Common Sense!!
HONG KONG -- Former Alaska Gov. Sarah Palin, in what was billed as her first public-speaking engagement outside North America, blamed the world financial crisis on government excesses and called for a new round of deregulation and tax cuts for U.S. businesses. "We got into this mess because of government interference in the first place," the former Republican U.S. vice presidential candidate said Wednesday at a conference sponsored by investment firm CLSA Asia-Pacific Markets. "We're not interested in government fixes, we're interested in freedom," she added. On the foreign-policy front, she told the room full of bankers and executives of the importance of the global fight against terrorism and of finding ways to engage China as a global power. She said China "rightfully makes a lot of people nervous." Her speech marks an effort to reach out to an international audience and define her political identity since resigning from office earlier this year. Ms. Palin is among a handful of high-profile Republicans seeking a path back to power for a party that lost control of both houses of Congress and White House in last year's U.S. elections. Ms. Palin's address, which drew strong applause at the end, was officially closed to the media. The Wall Street Journal reviewed a recording of the speech. In the wide-ranging address, Ms. Palin touched on the rising U.S. budget deficit, the debate over a proposed health-care overhaul, the war in Afghanistan and China's role in world affairs. She described her political philosophy as a "common-sense conservatism," and said the free-market policies of Ronald Reagan and Margaret Thatcher should be guides for how to get out of the current economic situation. "Liberalism holds that there is no human problem that government can't fix if only the right people are put in charge," she said. Ms. Palin didn't refer to President Barack Obama by name, but said his promise for change during the election hasn't taken hold. She called his campaign promises "nebulous, utopian sounding…Now 10 months later, though, a lot of Americans are asking: more government? Is that the change we want?" In an echo of last year's presidential campaign, she criticized government policies that result in what she called a redistribution of wealth. "There is no justice in taking from one person and giving to another," she said. "History shows it simply does not work." Ms. Palin blamed the U.S. Federal Reserve's low interest-rate policy of previous years for setting the stage for last year's global financial crisis. She opposed appointing the Fed as the chief overseer of systemic risk in the U.S. financial system. "The words 'fox' and 'henhouse' come to mind. The Fed's decisions have created the bubble," she said. She called for tax cuts as well as the elimination of the capital-gains and estate tax. Then, she said, the world will "watch the U.S. economy roar back to life." On health care, Ms. Palin defended her previous criticisms that the health-care overhaul proposed by Democrats would lead to health-care rationing and what she called "death panels." "It's just common sense that government attempts to solve problems like health care problem will just create new problems." She called for "market friendly" health care reform that gives tax breaks to individuals to buy health insurance. Former U.S. vice presidential nominee Sarah Palin attended the 16th annual CLSA Investors' Forum in Hong Kong Wednesday. She acknowledged the economic rise of both China and India but called for a vision of Asia in which no one country would dominate. "We all hope to see a China that is stable and peaceful and prosperous," she said. But she added that the U.S. must work with Asian allies in case "China goes in a different direction." She said greater political openness in China could help soothe tensions. "Many believed that with China liberalizing its economy, greater political freedom would follow, but that hasn't happened," she said. "The more open [China] is, the less we'll be concerned about its military buildup and its intentions." On U.S.-China trade relations, Ms. Palin called for more openness and warned against protectionism. "We need China to improve its rule of law, and protect our intellectual property," she said. "On our part, we should be more open to Chinese investment where our national security interests are not threatened." She talked about the recent protests of ethnic minority Muslim Uighurs, Chinese labor conditions, and Tibet. Ms. Palin mentioned Charter 08, a document signed by prominent academics and dissidents calling for greater democracy and openness in China. In other areas, she criticized Democratic House Speaker Nancy Pelosi for speaking skeptically about the need for more troops in Afghanistan. "Afghanistan is where the 9/11 attacks were planned and if we are not successful there, al Qaeda will find a safe haven there again," she said. Ms. Palin warmed up the crowd with her impressions of Hong Kong, one of the densest urban areas in the world. "The wildlife-to-human ratio is different from Alaska, but I could get used to it," she said. She also spoke about how Alaska once shared a land bridge with Asia. And she noted that her husband's Eskimo ancestors crossed that bridge. "To consider that connection that allowed sharing of peoples and bloodlines and wildlife and flora and fauna, that connection to me is quite fascinating," she said.
Til Nex'Time....
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