tag:blogger.com,1999:blog-77997272024-03-12T22:15:08.953-04:00watts4u2 blogNot what you might thinkWattshttp://www.blogger.com/profile/10066903827715381593noreply@blogger.comBlogger964125tag:blogger.com,1999:blog-7799727.post-13119722878559582302014-11-29T08:54:00.001-05:002014-11-29T08:54:22.405-05:00Po Po Needs Reign The Atlantic: The Case for Policing Reform Is Much Bigger Than Michael Brown. http://google.com/newsstand/s/CBIw-bmY6x8Wattshttp://www.blogger.com/profile/10066903827715381593noreply@blogger.comtag:blogger.com,1999:blog-7799727.post-4642375756774032242014-07-03T17:05:00.001-04:002014-07-03T17:59:37.416-04:00Looking back at Blackwater<p dir="ltr">http://www.newsobserver.com/2014/07/01/3978963/us-officials-supported-blackwater.html</p>
<p dir="ltr">Uh-hum.  </p>
Wattshttp://www.blogger.com/profile/10066903827715381593noreply@blogger.comtag:blogger.com,1999:blog-7799727.post-88254411139980131862014-06-12T09:10:00.001-04:002014-06-12T09:27:54.718-04:00Otis...perfectOtis Redding - Your Feeling is Mine: http://youtu.be/HvqYSWlj8ao
<iframe width="560" height="315" src="//www.youtube.com/embed/HvqYSWlj8ao?rel=0" frameborder="0" allowfullscreen></iframe>Wattshttp://www.blogger.com/profile/10066903827715381593noreply@blogger.comtag:blogger.com,1999:blog-7799727.post-39806214811355246792014-06-12T09:08:00.001-04:002014-06-12T09:29:22.429-04:00Feeling Otisey, as Usual<p dir="ltr">Otis Redding - You're Still My Baby: http://youtu.be/p6XS_3zWfYk</p>
<iframe width="420" height="315" src="//www.youtube.com/embed/p6XS_3zWfYk?rel=0" frameborder="0" allowfullscreen></iframe>
Wattshttp://www.blogger.com/profile/10066903827715381593noreply@blogger.comtag:blogger.com,1999:blog-7799727.post-68299304872318910572014-05-30T23:43:00.001-04:002014-05-30T23:43:11.234-04:00Duke Energy synopsis<p dir="ltr">Gene Addesso: Hold the praise for Duke Energy - http://www.newsobserver.com/2014/05/30/3899356/gene-addesso-hold-the-praise-for.html</p>
<p dir="ltr">In response to the May 27 letter “ <a href="http://www.newsobserver.com/2014/05/26/3883679/michael-rencheck-confidence-in.html?sp=/99/108/165/">Confidence in Duke Energy’s commitment</a>” by Michael Renchek, president and CEO of Areva, Inc.: I agree that “a company should be defined by its conduct over the years, how it responds and what it continues to do going forward.” But unfortunately, Duke Energy’s conduct over the years, and its response to the coal ash spill at the Dan River plant, do not engender confidence.</p>
<p dir="ltr">Duke Energy told us that its coal ash storage in N.C. complied with all laws and regulations. That was not true. Duke Energy told us that though possibly illegal, its violations were harmless. That was not true. Duke Energy told us its coal ash storage was safe, well-maintained and reliable. That was not true. Duke told us that the pipe that broke under the Dan River lagoon was made of reinforced concrete. That was not true. Duke told us that it did not have corrugated metal pipes at other coal ash sites. That was not true. The N.C. Department of Environment and Natural Resources found corrugated metal pipes at other sites.</p>
<p dir="ltr">Even after the Dan River spill was over, when we would expect a company to focus most strongly on prudent management of its coal ash, Duke Energy illegally pumped 61 million gallons of polluted coal ash wastewater into the Cape Fear River.</p>
<p dir="ltr">Now, on the basis of its conduct over the years, Duke is being investigated by a federal grand jury, has been cited by DENR for numerous violations of laws and regulations and is facing enforcement actions for violating state or federal clean water laws, or both, at every place where it stores coal ash in North Carolina.</p>
<p dir="ltr">We understand the need for reliable and affordable electricity; as a public utility Duke Energy is obligated to provide exactly those things. But Duke is also obligated to comply with the laws that protect our public waters, just like everyone else.</p>
<p dir="ltr">Until Duke Energy commits to cleaning up its leaking coal ash pits and stops putting our rivers and communities at risk, praise for Duke’s conduct and leadership on this issue is premature at best.</p>
<p dir="ltr">Gene Addesso</p>
<p dir="ltr">President, Roanoke River Basin Association, Danville, Va.<br><br></p>
<p dir="ltr">Great letter, pretty much sums up the latest from Duke Energy.  <br>
Remember this one?  Classic!<br>
http://www.newsobserver.com/2012/12/11/2539291/on-second-try-duke-energy-apologizes.<u>html</u></p>
<p dir="ltr">Energy companies own the legislature here in North Carolina.</p>
<div class="separator" style="clear: both; text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEilg0BhmhbC1NO9W8UCb3LZCQWsM3K-8qaxrtpiF2cUPaUNfxjsvOMKo26C_iPoL-d9_JRuzptm3xPT9bYYaddJOVZMT4WzwofujQPExPBkCeXyiDudJ44ToQBMj7bpHZR9FSfQLg/s1600/Screenshot_2014-02-06-19-08-58.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"> <img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEilg0BhmhbC1NO9W8UCb3LZCQWsM3K-8qaxrtpiF2cUPaUNfxjsvOMKo26C_iPoL-d9_JRuzptm3xPT9bYYaddJOVZMT4WzwofujQPExPBkCeXyiDudJ44ToQBMj7bpHZR9FSfQLg/s640/Screenshot_2014-02-06-19-08-58.png"> </a> </div>Wattshttp://www.blogger.com/profile/10066903827715381593noreply@blogger.comtag:blogger.com,1999:blog-7799727.post-34851475427886718642013-09-14T22:41:00.002-04:002014-04-05T09:41:46.990-04:00Astrophotographo<div class="separator" style="clear: both; text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgYSaIdAvDFI7A6SBmbbh7arsquL_rnu1f4q1Cyu1atf_tShtl13RQJgYhE3rOT9LynyqK1reiKq3zNA-c4zTDK6wrdDg3VlFPXg0MqxpMxCcvrUip-w0VLANWX1OISHmOgzd1xuA/s1600/sg6.gif" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"> <img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgYSaIdAvDFI7A6SBmbbh7arsquL_rnu1f4q1Cyu1atf_tShtl13RQJgYhE3rOT9LynyqK1reiKq3zNA-c4zTDK6wrdDg3VlFPXg0MqxpMxCcvrUip-w0VLANWX1OISHmOgzd1xuA/s640/sg6.gif"> </a> </div>Wattshttp://www.blogger.com/profile/10066903827715381593noreply@blogger.comtag:blogger.com,1999:blog-7799727.post-84554808131929458082013-03-12T11:03:00.000-04:002013-03-14T08:33:56.610-04:00Mo' Lottery HijinxYou can't make this stuff up. The <a href="http://www.starnewsonline.com/article/20130210/ARTICLES/130219988" target="_blank">State of NC finally does something</a> (<a href="http://www.starnewsonline.com/article/20130210/ARTICLES/130219988" target="_blank">excellent editorial from the Star-News</a>) about all these "sweepstakes internet cafes", while at the same time, keeps in place the State-run lottery. Hypocrisy and monopolized government greed incorporated. The Lottery is a <a href="http://www.urbandictionary.com/define.php?term=fool%27s%20errand" target="_blank">fool's errand</a> to start with, and to have it run as a monopoly by the state is just not right. Here's yet another story of the lottery gone bad, from the <a href="http://www.news-record.com/news/888156-63/clerk-at-greensboro-store-arrested" target="_blank"><i>Greensboro News-Record</i></a>:<br />
<blockquote class="tr_bq">
<br />
<div class="NormalParagraphStyle">
GREENSBORO — Two people were arrested
Monday after they allegedly stole winning tickets from detectives in a
North Carolina lottery sting.
</div>
<div class="NormalParagraphStyle">
A detective presented a winning ticket on Feb. 18 at Ken’s Quickie Mart, 305 W. Main St., according to warrants.
</div>
<div class="NormalParagraphStyle">
The clerk, Yogesh Jayantibhai Patel,
47, of 2405 Vanstory St., ran the Bonus Crossword Game ticket through
the computer. <b>Although the computer made a tone, indicating the ticket
was a $1,000 winner, Patel told the detective it was a loser</b>, the
Guilford County Sheriff’s Office said.
</div>
<div class="NormalParagraphStyle">
Patel and Minaben Yogesh Patel, 50, of the same address, cashed in the ticket the next day, deputies said.
</div>
<div class="NormalParagraphStyle">
Bond for each was $10,000.</div>
</blockquote>
The article does not say why the detectives were doing a sting. I suppose we can presume that the <strike>crooks</strike> scammers? had successfully completed this scheme before, perhaps many times over. Can we not also assume that other lottery vendors are doing this as well? <br />
<br />
I should remind you of this story from earlier:<br />
<a href="http://watts4u2.blogspot.com/2012/07/lotto-fever.html" target="_blank">watts4u2 post from last July</a><br />
<blockquote class="tr_bq">
Ah, the sweet lottery is so good to us, what could go wrong? <a href="http://www.starnewsonline.com/article/20120711/articles/120719918/1051/husband_charged_with_illegally_obtaining_m_ticket;jsessionid=D86E93E4580BFCF08B65DC983EE44C85.m2%20" target="_blank">Looks like this Kangaroo cashier gamed the system</a> and had his wife win a cool $1 Million Dollars! My favorite part,<br />
<br />
"The lottery is seeking recovery of the prize money paid to Fields."<br />
<br />
Nice work. The lottery pays off again! </blockquote>
<br />
I've never seen a follow-up to that story, though I've looked online.....please comment if you know more! <i>Edit: <a href="http://www.starnewsonline.com/article/20120711/articles/120719918/1051/husband_charged_with_illegally_obtaining_m_ticket" target="_blank">Just found it!</a></i><br />
<blockquote>
<div class="art_byline">
By F.T. Norton</div>
<div class="art_pubdate" data-date="02/28/2013">
<h5>
Published: Thursday, February 28, 2013 at 12:01 p.m.</h5>
</div>
<div class="article_text article_paragraph0">
A Wilmington man charged with the theft of a winning lottery
ticket that his wife claimed, pleaded guilty this month to stealing the
ticket from the gas station where he worked.</div>
Sean Mewherter, 21, pleaded guilty Feb. 13 in Brunswick County
Superior Court to felony larceny by an employee. In lieu of five to 15
months in jail, <b>Mewherter received 24 months of probation and a $316
fine</b>.In July, Mewherter's wife Mikala Fields took a $1 million
winning 20X The Money ticket to lottery officials, and received a cash
payout of $408,003 after taxes were withheld from the $600,000 lump sum.<br />
Following
the announcement of the award, the N.C. Education Lottery was contacted
by Mewherter's employer, Kangaroo Express, and an investigation began
into how Fields obtained the winning ticket. The investigation revealed
that Mewherter stole the ticket while he was working at the Kangaroo
Express on Yaupon Drive in Oak Island, according to the NCEL.<br />
<b>Fields was ordered to return the winnings. She's not been charged in the incident.</b></blockquote>
<div class="article_text article_paragraph1 google_elide">
</div>
<i>Doesn't say how much of our hard earned lottery money we got back, but there you go, justice!</i><br />
<br />
<a href="http://watts4u2.blogspot.com/search?q=lottery" target="_blank">Flashback: Have I been consistent on the lottery?</a> Click that link, to see previous lottery posts, as well as my endorsements from the election 2004.... I endorsed 4 candidates..... 2 Republicans and Erskine Bowles. And John Kerry. They all lost.<br />
<br />
<br />Wattshttp://www.blogger.com/profile/10066903827715381593noreply@blogger.comtag:blogger.com,1999:blog-7799727.post-63880364754796450502013-02-25T09:26:00.000-05:002013-02-25T09:26:43.800-05:00Republicans Ass Kiss ThemHey, income inequality <b><i>is too</i></b> in part caused by the tax code, and we can make it more fair! So says this article in <i><a href="http://www.businessinsider.com/study-income-inequality-capital-gains-tax-rate-2013-2" target="_blank">Business Insider</a></i>:<br />
<blockquote class="tr_bq">
"It conclusively found that the wealthy benefitted from low tax rates
on investment income, which in turn caused their wealth to grow faster.<br />
Essentially, taxing capital gains as ordinary income would make the
playing field more fair, and reduce over time income inequality.<br />
Even more, such a move would serve as a deficit reduction measure..."<br />
<br />Read more: <a href="http://www.businessinsider.com/study-income-inequality-capital-gains-tax-rate-2013-2#ixzz2Lv8RG16l" style="color: #003399;">http://www.businessinsider.com/study-income-inequality-capital-gains-tax-rate-2013-2#ixzz2Lv8RG16l</a></blockquote>
It's only money that keeps the Republicans from seeing that it is time to take on the big pockets, not ass kiss them. Wattshttp://www.blogger.com/profile/10066903827715381593noreply@blogger.comtag:blogger.com,1999:blog-7799727.post-57361930032730241362013-01-31T22:03:00.000-05:002013-01-31T22:03:27.694-05:00Will this gif work?There should be motion....stirring. Here's the test:<br />
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<a href="https://farm9.staticflickr.com/8499/8424941983_20b2fd8071_o.gif" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="320" src="https://farm9.staticflickr.com/8499/8424941983_20b2fd8071_o.gif" width="240" /></a></div>
Might not work on tablets and phones, but works on my computer!<br /><div class="separator" style="clear: both; text-align: center;">
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<br />Wattshttp://www.blogger.com/profile/10066903827715381593noreply@blogger.comtag:blogger.com,1999:blog-7799727.post-41420696701941086422013-01-23T08:28:00.001-05:002013-01-23T08:28:17.416-05:00Not a Crime<p><a href="http://m.starnewsonline.com/article/20130122/articles/130129913/1004/wilmington_man_wont_face_charges_in_gun_show_shooting;jsessionid=8A8196ABB4D2D0B0B57A9EAB7ADFFC66.m2">StarNewsOnline.com</a></p>
<p>Allow your gun to go off at a gun show, injuring 3 people, is not a crime. This man will see no punishment, though someome could have easily been killed. Yeah, gun laws are just soooo strict.<br>
</p>
Wattshttp://www.blogger.com/profile/10066903827715381593noreply@blogger.comtag:blogger.com,1999:blog-7799727.post-53046683039706670732013-01-22T12:32:00.001-05:002013-01-22T12:32:34.320-05:00MLK saved Star Trek<p><a href="http://www.openculture.com/2013/01/nichelle_nichols_tells_neil_degrasse_tyson_how_martin_luther_king_convinced_her_to_stay_on_star_trek.html">Nichelle Nichols Tells Neil deGrasse Tyson How Martin Luther King Convinced Her to Stay on Star Trek | Open Culture</a></p>
<p>I didn't think I could have a higher opinion of Martin Luther King, but this story just raised the bar. <br>
</p>
Wattshttp://www.blogger.com/profile/10066903827715381593noreply@blogger.comtag:blogger.com,1999:blog-7799727.post-58312937504986394482013-01-21T16:45:00.001-05:002013-01-21T16:45:19.749-05:00Joe and Poopy Hands<p><a href="http://video.msnbc.msn.com/nbc-news/50538968">msnbc.com: NBC's Al Roker snags Biden handshake</a></p>
<p>I caught this live and almost fell out. I also think Biden may be on ecstacy. </p>
Wattshttp://www.blogger.com/profile/10066903827715381593noreply@blogger.comtag:blogger.com,1999:blog-7799727.post-22706333959956597272013-01-17T08:43:00.001-05:002013-01-17T08:43:44.054-05:00No, they haven't learned anything<p><a href="http://www.autoblog.com/2013/01/16/virginias-gov-mcdonnell-proposes-elimination-of-gasoline-tax/">Virginia's Gov. McDonnell proposes elimination of gasoline tax</a></p>
<p>Perhaps he should add a rape assist kit requirement to each car and a $500 tax deduction if you carry an assault rifle in the rear window of your truck. <br>
This is another one if them moderate Republicans.</p>
Wattshttp://www.blogger.com/profile/10066903827715381593noreply@blogger.comtag:blogger.com,1999:blog-7799727.post-82324723109020905772012-12-12T09:02:00.000-05:002012-12-12T09:02:24.346-05:00Duke Didn't Want to ApologizeAnd clearly, <a href="http://www.newsobserver.com/2012/12/11/2539291/on-second-try-duke-energy-apologizes.html" target="_blank">they didn't mean it</a> when they did:<br />
<blockquote class="tr_bq">
"Duke had agreed to submit a public statement of penance for the way it mishandled its merger with Progress and fired CEO-to-be Bill Johnson on the day the merger was completed. Lawyers at Duke and at the Utilities Commission had agreed on a draft of the letter....<br />
<br />
Rogers submitted his letter Tuesday. <b>Several hours later, however, the company was forced to submit a corrected version, this time adding two key words: “we apologize.”</b><br />
<br />
“This was a draft mix-up at our end – we basically submitted the wrong draft,”"</blockquote>
<br />
You just can't make this stuff up folks. The North Carolina Utility Commission has officially been walked all over, again. And they know, and don't seem to care much:<br />
<blockquote class="tr_bq">
"Public Staff Director Robert Gruber had been publicly demanding Rogers’ ouster as a moral equalizer. <br />
Gruber said Tuesday that Rogers’ letter signals that Duke and the commission have reconciled. <br />
“They owed the commission an apology in plain English,” said Gruber, whose agency represents the public in utility rate cases. “<b>I’m satisfied it brings closure to the matter.</b>”"</blockquote>
I'm sure the Duke authorities have learned their lesson and will never try to fool the commission, their shareholders, the legislature, and the general public again after such harsh treatment: <br />
<blockquote class="tr_bq">
"As part of the settlement finalized this month, Duke will pay $30 million to benefit North Carolina customers and Rogers will retire by the end of next year. The settlement also reassigns two top Duke executives to other roles."</blockquote>
Oooooooooh, $30 Million for all of us? That's<a href="http://watts4u2.blogspot.com/2012/07/mo-money-mo-power.html" target="_blank"> like being Duke CEO for like, 3/4 of a day or something</a>, and we all get to share it. Mmmmmm hmmmm, feelin' that satisfaction!Wattshttp://www.blogger.com/profile/10066903827715381593noreply@blogger.comtag:blogger.com,1999:blog-7799727.post-43264761600587605172012-11-24T20:37:00.001-05:002012-11-25T10:45:16.441-05:00Dumbass in the Seventies, Dumbass Now<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjzCda0h9pX-OJWW4_k-n7qjLyYB4k5C5Sj7Ej-luHa5rPdqEL2Nq6oefcl0HRQDD094RI51eWar7SJH6y6wdT-W8nl7bULVl6eFvok1-cwgQf0uN0nVkUGyKXMEKP4EBZLy_NIew/s1600/rb2.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="276" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjzCda0h9pX-OJWW4_k-n7qjLyYB4k5C5Sj7Ej-luHa5rPdqEL2Nq6oefcl0HRQDD094RI51eWar7SJH6y6wdT-W8nl7bULVl6eFvok1-cwgQf0uN0nVkUGyKXMEKP4EBZLy_NIew/s1600/rb2.jpg" width="400" /></a></div>
<a href="http://www.nytimes.com/2012/11/25/opinion/sunday/dowd-but-can-they-eat-50-eggs.html?partner=rssnyt&emc=rss&_r=0">But Can They Eat 50 Eggs? - NYTimes.com</a><br />
The column where Maureen Dowd admits she didn't know who Roger Staubach was when she went to a football game in the 70's. That explains this column, where she overcriticizes freshly re-elected President Obama, while gushing over a rookie QB with a 5-6 record. See, she didn't recognize greatness then, or now. Dumbass.<br />
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Wattshttp://www.blogger.com/profile/10066903827715381593noreply@blogger.comtag:blogger.com,1999:blog-7799727.post-11108035016554818252012-11-24T08:20:00.001-05:002012-11-25T10:59:04.353-05:00Advice for the Republicans<a href="http://www.nytimes.com/2012/11/23/opinion/krugman-grand-old-planet.html?partner=rssnyt&emc=rss">Grand Old Planet - NYTimes.com</a><br />
Krugman tellin' it like it is! Repubs should listen, but they won't. A shame.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhh8UjoVyzG17AeySvQyWwvhvwOiOcbk_WKHDhswsu3ymhtPiu9FzzNZ_pN0FKvQPb9Cv5dy7L5LoT0n5sxLBrpeiw6YWnNWjNFXmCJEKzeMhKIj9nTTxTl4TUE1X5eZX0W88itig/s1600/ee.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhh8UjoVyzG17AeySvQyWwvhvwOiOcbk_WKHDhswsu3ymhtPiu9FzzNZ_pN0FKvQPb9Cv5dy7L5LoT0n5sxLBrpeiw6YWnNWjNFXmCJEKzeMhKIj9nTTxTl4TUE1X5eZX0W88itig/s1600/ee.jpg" width="297" /></a></div>
Wattshttp://www.blogger.com/profile/10066903827715381593noreply@blogger.comtag:blogger.com,1999:blog-7799727.post-27508719756554893052012-10-18T10:11:00.000-04:002012-10-18T10:11:47.821-04:00Progress ing to Higher Rates with DukeWho could have <a href="http://watts4u2.blogspot.com/2012/06/monomonopoly-abuse-of-power.html" target="_blank">seen this coming</a>? Progress Energy and Duke Energy are merging, and this is supposed to bring savings to consumers, and keep jobs in North Carolina. Well, here we have their first <a href="http://business.blogs.starnewsonline.com/21763/progress-energy-seeks-14-2-rate-hike/" target="_blank">new request for a rate hike</a> since the "merger", and we already know they plan layoffs as the merger progresses. At least there is some modernization happening, switching from coal to natural gas, for instance, but that will ultimately save the company money too. They might quit the coal, but they're saving the shaft for us citizens/consumers of literal monopolized power. It's time to re-think how we deal with the electric grid and the monopolies that exist in the energy industry, as a first step in a long term solution for our energy challenges. Wattshttp://www.blogger.com/profile/10066903827715381593noreply@blogger.comtag:blogger.com,1999:blog-7799727.post-67932469372622073372012-10-07T09:13:00.001-04:002012-10-07T09:13:22.104-04:00Help Big BirdHilarious!<br />
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And speaking of Big Bird, here's a tune from Eddie Floyd with Steve Cropper on guitar. Big Bird.</div>
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<iframe allowfullscreen="allowfullscreen" frameborder="0" height="360" src="http://www.youtube.com/embed/1tsVr5B0P4A?rel=0" width="640"></iframe>Wattshttp://www.blogger.com/profile/10066903827715381593noreply@blogger.comtag:blogger.com,1999:blog-7799727.post-25818635078190834312012-10-02T23:50:00.000-04:002012-10-02T23:50:40.482-04:00The Sealy Mattress StoryIt all started one cool fall night, the moon was full when she brought her new lady-friend up to my room after the party....<br />
<br />
oh, wait, not that kind of Sealy Mattress story, no, this one involves less enjoyable pursuits for the humans among us. But there is a class of folk, some say human, who enjoy nothing more than a forced corporate takeover or a leveraged buyout... ah, the sheer power of it all, muhahaha!! I'm getting ahead of the story. First, <a href="https://en.wikipedia.org/wiki/Sealy_Corporation" target="_blank">a little Sealy history</a>:<br />
<blockquote class="tr_bq">
...The failed deal, known as "burning bed," led to
a dramatic slow-down in leveraged buy-outs.<sup></sup><sup class="reference" id="cite_ref-4"><span></span></sup><br />
In 1990 Ohio Mattress assumed the Sealy name... <b>Bain Capital
and a team of Sealy's senior executives acquired the company in 1997.</b>
In 1998 Sealy announced that it was moving
from Cleveland to the High Point, NC, area.</blockquote>
<blockquote class="tr_bq">
In 2004, the company was acquired by Kohlberg Kravis Roberts & Co.
and a team of Sealy management. The deal was valued at $1.5 billion but
included significant debt.<sup class="reference" id="cite_ref-5"><span> </span><span></span></sup>The company operated as a privately held corporation until 2005. "<sup class="reference" id="cite_ref-6"><span></span><span></span></sup></blockquote>
Say these guys who flip these companies take significant risks to keep these companies going to benefit the shareholders and by happenstance, the workers, and America as a whole. That's why they make the big bucks! But, what if their investments weren't that large, and their personal profits guaranteed at the expense of the shareholders and workers? Would that be capitalism working? Because that's what they did, time and again.<br />
<br />
Josh Kosman has an interesting <a href="http://www.salon.com/2012/10/02/how_mitt_romneys_bain_harvested_sealy_mattress_company/" target="_blank">new article at <i>Salon</i></a> about what happened with Bain & Sealy. The whole article is worth reading, it's not too long and really lays it bare:<br />
<blockquote class="tr_bq">
Mitt Romney’s Bain led a $791 million buyout of Sealy in 1997, putting
$140 million down and, in typical private-equity fashion, having Sealy
borrow the remaining $651 million to finance the deal and assume
responsibility for paying it back. ...</blockquote>
<blockquote class="tr_bq">
(Despite the "one-sided mattress" and other mismanagement under Bain mentioned in the article) Bain and co-investors sold — “harvested,” if
you like — Sealy in 2004 to fellow private equity firm KKR for $1.5
billion ($5.78 a share), pocketing $741 million for its $140 million investment. ...KKR then took Sealy public in 2006 at $16 a share.</blockquote>
AND why is this news now? <br />
<blockquote class="tr_bq">
<b>Relative upstart Tempur-Pedic <a href="http://www.bloomberg.com/news/2012-09-27/tempur-pedic-agrees-to-acquire-sealy-for-2-20-a-share.html">agreed to buy</a> Sealy this week</b> for $2.20 a share, paying less than $250 million for its stock and assuming its $750 million debt.</blockquote>
<blockquote class="tr_bq">
Thus Sealy joins Burger King and others on the list of Bain-acquired
companies that collapsed soon after Bain cashed out — hardly surprising,
since private equity is mostly about squeezing businesses as hard as
possible, not creating long-term value...</blockquote>
<blockquote class="tr_bq">
A longtime Sealy executive told me he was very sad about last week’s
sale. “I don’t like being acquired by an upstart like Tempur. We should
have figured out how to handle them in the marketplace.” Now, some of
Sealy’s 4,500 workers will likely lose their jobs in the merger.</blockquote>
<br />
<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: left; text-align: left;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj-H-yi6530imQ6WgnpU97AySziu-scEhHtG-XlHz2c3KJHwuYuW6rr6wUn3yMZlq-DDWqUQNN94vfdCd5vNytHFvA3D29OR5EZUcGBeKJ1f3j5MV2Uv9ocM9IBjgCtdcuwIvIibA/s1600/sealy+m.jpg" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="213" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj-H-yi6530imQ6WgnpU97AySziu-scEhHtG-XlHz2c3KJHwuYuW6rr6wUn3yMZlq-DDWqUQNN94vfdCd5vNytHFvA3D29OR5EZUcGBeKJ1f3j5MV2Uv9ocM9IBjgCtdcuwIvIibA/s320/sealy+m.jpg" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">"Oh, that's chump change for a guy like me!"</td></tr>
</tbody></table>
<a href="http://www.salon.com/2012/10/02/how_mitt_romneys_bain_harvested_sealy_mattress_company/" target="_blank">That article at <i>Salon</i></a> is really worth a read. Why should a company get tossed around by five investment groups in 10 years? Let's hope Mitt doesn't do to America what Bain did to Sealy. In fact, let's not give him the chance.<br />
Wattshttp://www.blogger.com/profile/10066903827715381593noreply@blogger.comtag:blogger.com,1999:blog-7799727.post-76630636397054054112012-10-02T16:45:00.000-04:002012-10-02T16:46:49.964-04:00Proof Tax Cuts for the Rich Help the EconomyI mean, <b>Where is</b> the proof tax cuts for the rich help the economy? Ruth Marcus takes on the fallacies of Romney's "plan" in <a href="http://www.washingtonpost.com/opinions/ruth-marcus-fallacies-at-the-heart-of-romneys-tax-plan/2012/09/25/9c203a16-0744-11e2-afff-d6c7f20a83bf_story.html" target="_blank">her Washington Post editorial</a>, with the introduction of things called "facts" and "numbers". The nerve.<br />
<br />
<blockquote class="tr_bq">
"Consider: The economy grew at 3.9 percent from 1950 to 1970, when the
average top marginal income tax rate was 84.8 percent. From 1987 to
2010, when the average rate was less than half that (36.4 percent),
economic growth was far <i>less</i> robust, 2.9 percent.</blockquote>
<br />
<blockquote class="tr_bq">
This
comparison might be misleading because multiple factors affect the
economy, so the CRS looked at a shorter, more recent time span.<br />
From 1987 through 1992, the top average marginal income tax rate was 33.3 percent. Economic growth averaged 2.3 percent.<br />
From
1993 through 2002, after taxes increased under President Clinton, the
average top marginal rate was 39.5 percent. Economic growth averaged 3.7
percent.<br />
Finally, from 2003 through 2007, after the Bush tax
cuts, the average top marginal rate was 35 percent. Economic growth
averaged 2.8 percent. </blockquote>
<br />
<blockquote class="tr_bq">
If you were going to make a causality
argument from these figures, it would be that lower taxes correlate with
lower growth. Such a leap isn’t justified — but where is the proof
supporting Republicans’ insistence that lower rates fuel growth?"</blockquote>
<br />
How about that?Wattshttp://www.blogger.com/profile/10066903827715381593noreply@blogger.comtag:blogger.com,1999:blog-7799727.post-61105772642341281062012-09-24T19:42:00.002-04:002012-09-24T19:42:33.294-04:00What Would Mohammad Do?Looking for reasonable Muslim voices out there in media-land? Well, I found one, Nahed Eltantawy, a professor at High Point University, and <a href="http://www.news-record.com/content/2012/09/21/article/violent_reaction_to_cheap_film_does_a_disservice_to_islam" target="_blank">she has a terrific column in the Greensboro News & Record</a>:<br />
<br />
<blockquote class="tr_bq">
<span class="nrcTxt_content entry-content">"Probably every Muslim has heard the story of Prophet Mohammed (peace be upon him) and his non-Muslim neighbor.<br /><br />Every
day this neighbor would throw garbage in the prophet’s way so as to
irritate him, and every day the prophet would walk away peacefully. One
day, the prophet walked out of his house and did not find his neighbor
who threw garbage. What did the prophet do? He knocked on the neighbor’s
door and asked her if she was all right. The neighbor, who had fallen
ill, felt very ashamed by her actions. <br /><br />The moral of the story?
Prophet Mohammed (PBUH) never once used anger, let alone violence, to
respond to his neighbor, or to others who expressed hatred and violence
toward him. Why, then, are some Muslims using rage and violence to honor
and defend their prophet? Why can’t we follow in his path and learn
from his teachings?"</span></blockquote>
Sell it to the street, my lady! <br />
Wattshttp://www.blogger.com/profile/10066903827715381593noreply@blogger.comtag:blogger.com,1999:blog-7799727.post-2211514650686889562012-09-24T19:31:00.000-04:002012-09-24T21:59:06.358-04:00Racists: A Column for YouI don't see how racists can read columns like this one by Leonard Pitts, and still come away not realizing that they are racists. I <a href="http://www.miamiherald.com/2012/09/23/3014528/racist-bumper-stickers-dont-stop.html" target="_blank">found this column</a> to be uplifting and full of the kind lessons we need to keep toward the top of our social consciousness. It's a short read, but sure will stir ya:<br />
<br />
<blockquote class="tr_bq">
"...why should “Don’t Re-Nig” come as a surprise? It’s just the next logical step.<br />
One cannot openly express one’s hate — right up till the day one can. Though even then, one may have to delude oneself."</blockquote>
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Read more here: http://www.miamiherald.com/2012/09/23/3014528/racist-bumper-stickers-dont-stop.html#storylink=cpy</div>
Wattshttp://www.blogger.com/profile/10066903827715381593noreply@blogger.comtag:blogger.com,1999:blog-7799727.post-82830800519775730072012-09-19T12:21:00.000-04:002012-09-19T12:21:59.541-04:00The Hiker Who Could Have Been PresidentImagine a Southern Protestant Christian who didn't sound like a 1%'er on the Republican ticket. You know who could have stopped Romney back in the primaries? And who would have had a much better shot at beating President Obama? No, not Rick Santorum, I'm talking about a real man, like what Republicans used to think about say, Clint Eastwood. Yes, I'm talking about the hiker, Mark Sanford. Nobody was in a better position to take on Romney, right up until he, well, took a hike on the Appalachian Trail. <br />
<br />
Well, good news for Mark Sanford, as he is clearly head-over-heels in love! The couple recently <a href="http://latino.foxnews.com/latino/news/2012/08/27/ex-gov-mark-sanford-argentine-mistress-are-engaged-report-says/" target="_blank">announced their engagement</a>, and the <a href="http://www.rawstory.com/rs/2012/08/27/mark-sanford-surprises-mistress-with-restaurant-marriage-proposal/" target="_blank">tale of the proposal</a> was, er, well:<br />
<blockquote class="tr_bq">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgYFMbS1xlNJXwbTgWtcXBP-V00ZFXDrkCDLqTfskfAqepymahrfErGHVPZzAnRXrGEmAkjkkYvm2ByB8nTWqfAmxfG_4A8QKK27Itkxhip194z1BDOtE-fJvLB3Y5utLNm4wt4lA/s1600/maria.png" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="210" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgYFMbS1xlNJXwbTgWtcXBP-V00ZFXDrkCDLqTfskfAqepymahrfErGHVPZzAnRXrGEmAkjkkYvm2ByB8nTWqfAmxfG_4A8QKK27Itkxhip194z1BDOtE-fJvLB3Y5utLNm4wt4lA/s320/maria.png" width="320" /></a>"Sanford arrived early to the Bella Italia Grill in Palermo for a
lunch date last week with Maria Belen Chapur, handed a waiter a bag
containing the engagement ring and told him to “make up a good story”
for her while he hid in the stall.
<br />
When Chapur arrived, she was told she had won a prize for being the
restaurant’s 100th customer of the day. Though she reportedly didn’t
know what to make of the story, Sanford soon emerged to spring his
proposal, which she accepted."</blockquote>
So, uh, I guess Mark Sanford may not have been gaff-free, either. Honeymooning on the Appalachian Trail, I presume? Wattshttp://www.blogger.com/profile/10066903827715381593noreply@blogger.comtag:blogger.com,1999:blog-7799727.post-19115251609730306612012-09-19T11:52:00.002-04:002012-09-19T11:55:29.725-04:00Don't Mess with Jimmy!<div style="text-align: left;">
<br /></div>
Grandson of President Jimmy Carter, James Carter, IV is the one who helped get that "47% Romney doesn't care about" video out there, and <a href="http://firstread.nbcnews.com/_news/2012/09/18/13938614-how-the-romney-video-leaked-for-carters-it-was-personal" target="_blank">the whole story is fascinating</a>. Some exerpts:<br />
<blockquote class="tr_bq">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiBGKKC7iyRtaMypRgzYPDwChDcu4wCFmGAuWm1FL9fCSxwivP3PMlZe2e-g_qT-znw7fz5wc8ZnwNevuPZMX3QZesQ5XXBG7L3N6vCCA91LGCl9zuN1O4PdsP1Uos2vqEBcsnxsg/s1600/jimmy_c.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiBGKKC7iyRtaMypRgzYPDwChDcu4wCFmGAuWm1FL9fCSxwivP3PMlZe2e-g_qT-znw7fz5wc8ZnwNevuPZMX3QZesQ5XXBG7L3N6vCCA91LGCl9zuN1O4PdsP1Uos2vqEBcsnxsg/s1600/jimmy_c.jpg" /></a>"The video then reappeared on YouTube under a different account --
"Anne Onymous." Carter said he was fascinated by the video -- and
figured there had to be more to Romney's talk.<br />
"It was just weird
video to all of a sudden come across,” he said. “It was all very strange
and it piqued my curiosity," he said.<br />
Carter Tweeted a link to the video -- and then soon noticed he had a new follower named "Anne Onymous."<br />
"I recognized it" -- and then messaged the follower back, resulting in a
series of exchanges in which he encouraged the poster to come forward
and give the full video to Corn. (David Corn at <i>Mother Jones</i>)"</blockquote>
Does it get a little weirder? Oh yeah. Check the details surrounding the event where Romney clearly admitted that he just wants to cut taxes for rich people:<br />
<blockquote class="tr_bq">
"The source who took the video has confirmed to NBC News that it was
taken at a May 17 $50,000-a-plate fundraiser at the Boca Raton, Fla.,
home of private-equity mogul Marc Leder, chief executive of Sun Capital
Advisors. </blockquote>
<blockquote class="tr_bq">
Leder has given $225,000 to Restore Our Future, the
pro-Romney Super PAC, in addition to raising money for Romney's
presidential campaign. He has also been the subject of controversy after
a report in the <a href="http://www.nypost.com/p/pagesix/nude_frolic_in_tycoon_pool_S8t8KXKG1IeGFSDtN6Xm9M" target="_blank"><i>New York Post</i> last year -- under the headline "<b>Nude Frolic in Tycoon's Pool</b>"</a> -- about a wild party at his Bridgehampton
mansion in which, according to the Post's account, "guests cavorted nude
in the pool" and scantily clad Russian dancers performed on platforms."</blockquote>
Oh, and I should remind everyone about exactly why Mitt Romney is not fit to criticize former President Jimmy Carter... well, I've <a href="http://watts4u2.blogspot.com/2012/04/bin-while.html" target="_blank">said it before</a>: <a href="https://www.dailykos.com/story/2012/04/30/1087678/--Even-Jimmy-Carter-Mitt-Romney-isnt-qualified-to-say-about-President-Carter" target="_blank">You're unfit to carry his bags</a>, mister. How dare <a href="http://2012.republican-candidates.org/Romney/Military.php" target="_blank">you</a>?<br />
<br />
And while I'm at it, though I may be tempting fate, I feel I must point to this post from almost a year ago, titled "<a href="http://watts4u2.blogspot.com/2011/09/i-making-prediction.html" target="_blank">I'm Making a Prediction</a>". Wattshttp://www.blogger.com/profile/10066903827715381593noreply@blogger.comtag:blogger.com,1999:blog-7799727.post-79865144511941832652012-09-13T21:13:00.001-04:002012-09-13T21:19:31.000-04:00Political Opinion From 'Friends' on FacebookI don't bother commenting on this guy's many, many, many posts on Facebook, I think he's doing a good enough job tearing down the party he supports, and he needs no additional help from me. I left out the names, I just want to show an example of what's out there. Here's the pic he posted and the only 3 comments.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjHXiu5bj-yYoBQ3IOk3mO7xtupGswtWOtfvhFydebml8dnbgiK5q4u_jXfuHQeWFchQZOU8PAZC7ne7rOwje5Y3nJ_V-1tJMTw0XIYLFe0PF5uruzR7ieHc6MlpJthIG_EMuVslQ/s1600/486738_419469074776744_981636417_n.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjHXiu5bj-yYoBQ3IOk3mO7xtupGswtWOtfvhFydebml8dnbgiK5q4u_jXfuHQeWFchQZOU8PAZC7ne7rOwje5Y3nJ_V-1tJMTw0XIYLFe0PF5uruzR7ieHc6MlpJthIG_EMuVslQ/s320/486738_419469074776744_981636417_n.jpg" width="320" /></a><br />
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<blockquote class="tr_bq">
<span id="internal-source-marker_0.6057482743032677" style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"><b>commenter</b>: Agreed.
Muslims are a cancer to the planet. We should not tolerate a religion
that rewards INSANE behivor anymore than we tolerate satanic cults
sacrificing 13 y/old virgin women in america. Both "Religious beliefs"
of radical muslims and satan worshipers must dealt with an iron fist.</span><br />
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">Yesterday at 12:52pm · Like</span><br />
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<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"><b>poster</b>: They are one in the same!!!</span><br />
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">Yesterday at 12:54pm · Like</span><br />
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<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"><b>commenter</b>: Two Words "Carpet Bomb"</span><br />
<span style="background-color: transparent; color: black; font-family: Arial; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">Yesterday at 1:01pm · Like</span></blockquote>
<h4>
<b>Now let me be sure to clarify that I don't agree with this graphic or those sentiments. In any way.</b> </h4>
Please check out the rest of my blog if you doubt me. I am pointing out "what is out there", and if this is what you want, well, then I guess you should vote for the candidate they support? <br />
<br />
That's Mitt Romney. These guys love Mitt Romney.<br />
<br />Wattshttp://www.blogger.com/profile/10066903827715381593noreply@blogger.com