TGIFriday Reads
Posted: April 1, 2011 Filed under: commercial banking, morning reads, We are so F'd, Women's Rights | Tags: Bank credit card fees, Bronx Zoo Egyptian Cobra, Congressional War powers, don't say uterus in florida's state legislature, Walmart's inflation woes, Walmart's supply chain workers maltreatment 61 CommentsGood Morning!!
Well, I’m hoping that this Friday goes smoother than my last one when what I thought was an innocuous zit turned into MRSA and sent me to the emergency room. I’m home now and waiting for groceries to be delivered. My face was all swollen and I’m finishing off my steriods and antibiotics. I certainly don’t want to be exposed to anything else for awhile and I availed myself of an internet-based delivery service. What I really need at the moment is a cook and nurse, but no such luck or fortune. So, I’m going to start out with some good news.
If you follow twitter much, you may have noticed that the New York Bronx Zoo’s Egyptian Cobra went missing and was “tweeting” it’s adventures. It seems the snake had hid out in its home–the reptile building–and was lured out with the smell of rodent-infested wood shavings.
An Egyptian cobra that drew thousands of Twitter fans has been found alive after it went missing for days from a New York City zoo. “As you can imagine, we are delighted to report that the snake has been found alive and well,” Bronx Zoo Director Jim Breheny said Thursday. Zoo officials conducted around-the-clock searches for the 3-ounce, 20-inch long reptile, he said.
Breheny said the cobra had sought a secure hiding spot within the holding areas of the zoo’s reptile house — a complex environment with pumps, motors and other mechanical systems. But it was lured out after zoo officials sprinkled wood shavings from exhibit beds across areas where they guessed the cobra was hiding. “It was the scent of rodents (on the wood clippings) that we hoped would bring her out,” Breheny added. “The key strategy here was patience,” he said in a prepared statement. The snake went missing Saturday from an off-exhibit enclosure, prompting the zoo to close the reptile house.
The cobra’s twitter ego was a blast to read. There were various comments about Samuel Jackson and Sex and the City’s Samantha. Anyway, I’m glad the little asp is back in his nest and that’s no April Fool’s day joke. I wish this next item was a bad April Fool’s day joke, but it’s not. A Democrat in Florida’s legislature was rebuked for using the word uterus on the floor. I guess a few people think girl parts are dirty words. (h/t to pdgrey)
During last week’s discussion about a bill that would prohibit governments from deducting union dues from a worker’s paycheck, state Rep. Scott Randolph, D-Orlando, used his time during floor debate to argue that Republicans are against regulations — except when it comes to the little guys, or serves their specific interests. At one point Randolph suggested that his wife “incorporate her uterus” to stop Republicans from pushing measures that would restrict abortions. Republicans, after all, wouldn’t want to further regulate a Florida business.
Apparently the GOP leadership of the House didn’t like the one-liner. They told Democrats that Randolph is not to discuss body parts on the House floor. “The point was that Republicans are always talking about deregulation and big government,” Randolph said Thursday. “And I always say their philosophy is small government for the big guy and big government for the little guy. And so, if my wife’s uterus was incorporated or my friend’s bedroom was incorporated, maybe they (Republicans) would be talking about deregulating. “It’s not like I used slang,” said Randolph, who actually got the line from his wife. He said Republicans voiced concern about young pages hearing the word uterus. “I think it’s a sad commentary about what we think about sex education in the state,” he said.
I’m having a difficult time associated Hillary Clinton with John Yoo but Adam Serwer at American Prospect does just that in calling Obama’s presidency imperial. Wow, have times changed! There’s a raging debate right now on congressional war powers again. Considering the adventures we’ve been on from Korea, to Vietnam, to Iraq, and forward, it seems like an odd time for this issue to pop up yet again.
Look, there’s no other way to describe this other than lawless. The Obama administration and its defenders in the civil-libertarian community have always maintained that, because it derives its authority from Congress, that authority can ultimately be undone by a legislative branch that asserts itself. If this portrayal of events accurately reflects the administration’s view, then this is no longer the case. Moreover, the Obama administration has explained its failure to fulfill certain promises — such as closing Gitmo — on having to obey limits set by Congress. If the administration’s view is that Congress cannot constrain the president’s actions in wartime because he is commander in chief, then those restrictions are ones the administration acquiesces to willingly in order to avoid making good on politically risky commitments. If Congress can’t tell the administration it can’t wage war, it sure as hell can’t tell the president where to keep alleged enemy prisoners.
I wanted to put this Dean Baker link up earlier so here it is: How Credit Card Companies want to Debit You. One of the provisions of Dodd Frank that banks would like to remove is a provision that no longer let’s them take their bad debt out of your backside. Right now, banks charge retailers incredibly high fees that get passed on to consumers on many items. The deal is that even if you use cash, you still can feel the sting of the fee.
This fee is, in effect, a sales tax. Since the credit companies generally do not allow retailers to offer cash discounts, they must mark up the sales price for all customers by enough to cover the cost of the fee. This seems especially unfair to the cash customers, since they must pay a higher price for the items they buy – even though they are not getting the convenience of paying with a debit or credit card. Those paying in cash also tend to be poorer than customers with debit or credit cards, which means that this is a transfer from low- and moderate-income customers to the banks. This is where financial reform comes in. One of the provisions of the Dodd-Frank bill passed last year instructed the Federal Reserve Board to determine the actual cost of carrying through a debit card transfer and to regulate fees accordingly. The Fed determined that a fee of 10-12 cents per transaction should be sufficient to cover the industry’s costs and provide a normal profit.
The Fed plans to limit the amount that the credit card companies can charge retailers to this level. This would save retailers approximately $12bn a year, at the expense of the credit card companies and the banks that are part of their networks. The prospect of losing $12bn in annual profits has sent the industry lobbyists into high gear. They have developed a range of bad things that will happen if the regulated fee structure takes effect and also argued that big retailers would be the only ones benefiting.
I really liked Mark Thoma’s latest at CBS’s MoneyWatch. It’s called “What’s Good for Wal-Mart Isn’t Necessarily for America”. It’s in response to WalMart executives who are in a dither about potential future inflation. Thoma makes three quick points to show you why your interests and there’s are probably not aligned.
1. Labor costs are 70% of production costs. Until we see wage inflation, and we aren’t seeing this yet, there’s little likelihood that prices will be forced upward rapidly.
2. Wal-Mart has an interest in a strong dollar (i.e. anything but inflation). They import most of what they sell, so labor costs here aren’t an issue – but the exchange rate is. However, the road to recovery is not through maximizing what we bring in from other countries, but rather what we export. Increasing net exports requires a falling exchange rate, the opposite of what Wal-mart wants. Thus, in this regard, what’s good for Wal-Mart isn’t what’s good for America.
3. The other thing to note as that to the extent that this is being driven by a change in the world demand for commodities (and almost all the credible analyses I’ve seen places the blame for rising commodity prices on this), there’s very little the Fed can do about it. For example, one of the concerns of Wal-Mart is rising labor costs in China, but the Fed has no control over labor costs in there, so the Fed cannot fix the problem for Wal-mart. However, this could help businesses here who cannot compete with low labor costs and a manipulated exchange rate, and that would help the US generally, but that is not what Wal-Mart wants.
Here’s more to think on when considering Walmart. This time it’s about the kinds of people that work so that cheapie goods are available to Walmart shoppers and they don’t have to deal with the United Ladies’ Garment workers.
The largest retailer in the United States is making an aggressive push into urban areas such as Chicago, Philadelphia, New York while the United Food and Commercial Workers union plays an underdog role in garnering public attention of Walmart’s abuse of workers from garment factories to employees in their Supercenters. UFCW is trying to highlight these abuses in a Worker Truth Tour featuring people who have or currently work for the massive corporation or a subsidiary.
The tour reached Chicago earlier this week featuring two women from Bangladesh who work in garment factories. The youngest of the two, Aleya Akter, continues to work 208 hours a month for a mere $80. It comes out to 38.5 cents an hour. She started working in the factories at the age of nine in 1994. She claimed there are lots of violations, long hours, and forced overtime. Additionally, she said through a translator, “Enough is enough. We need to change the working conditions in the factories.” Almost as an afterthought Aleya alleged that the workplace in these garment factories are unsafe and some of the women are physically abused by managers.
Anyway, that’s what I’ve got today. I’m still sort’ve reeling from the drugs, so hopefully you can add some more things from your reading and blogging list for us!!
Dak, glad you’re at home and improving. Be gentle with yourself.
“Those paying in cash also tend to be poorer than customers with debit or credit cards, which means that this is a transfer from low- and moderate-income customers to the banks.” I make it a practice to pay in cash whenever I can because of the fees – thus keeping costs down. I have friends who pay with credit even under $10.00 because they get “points” or in one case because it’s easier. My credit union is asking customers to fight this bill. I refuse.
Banks are really trying to have things both ways these days and are getting away with it.
They’re fighting mortgage cram downs and things that would help people stay in their homes still too. The promised mortgage modifications as a result of the housing crisis sure haven’t come to fruition.
Dak, wow, it happened to me too. What a shocker that bug is. Mine ended up in surgery with a good portion of tissue being removed. I know what you’re going through and my heart is there with you.
Thanks for the roundup of all the crazy happenings. Didn’t know a thing about the woman parts being used in Tallahassee. I live in Florida and you’d think that would’ve made the news here. To think our international metro areas like Miami are being ruled by some podunks from the Panhandle, otherwise known as the Redneck Riviera, is too much to bear. Been thinking alot about leaving this state along with lots of other folks.
Take real good care of yourself and take your vitamins.
I’m glad you’re better. The doc in the ER said it was a good thing I didn’t wait another day to come in or I’d have been in serious trouble. I can see this bug is nasty and they just poured all kinds of meds into me in the hospital and I still have some huge horsepills now. If this is the kind of bugs we’re breeding,we’re going to need a lot of help with better antibiotics. This stuff is pure poison.
Glad you are on the mend, but the experience sounds terrible. I hope your recovery at home is a speedy one.
Yes, I was appalled you waited 24 hours for your daughter to arrive before going to the ER.
Let me tell you, get familiar with the symptoms because supposedly this stuff is every where and lurking. It’s nothing to fool around with.
MRSA News & Drug Resistance News from Medical News Today Some information you may find interesting Kat…
I didn’t wait 24 hours. It was more like 6. I was afraid I wouldn’t be able to see well enough to drive out to my hospital which is in Jefferson Parish. I didn’t want potluck hospital here.
The best news of the day is that you’re recovering Dkat – good advice regarding others to inform themselves because this is being caused to a certain extend by the prescriptions being handed out without serious consideration.
Dare I say, it’s another epic fail coming to all of us. I won’t mention the gov’t agencies that are enabling a couple of industries to bring this on – TMI.
So sorry to hear about that, Dak.
Get well soon.
Krugman talks about how were replaying the Hoover Administration’s approach to the economy this morning. Get ready for another crash folks!
Harper’s Magazine called that shot years ago with Kevin Baker’s article: Barack Hoover Obama. Get past the Obie-worship and it’s dead-on, IMHO.
Dak, so glad you are feeling better. What a scary experience!
Thanks! It was scary. I would’t wish this off on any one.
actully that’s the new stock market bubble… not dot.bombs, or housing loans, but every 3-4 years: a crash and then a massive bale out to those who caused the crash , who then keep the ill gotten gains from the crash and the bail out…on an endless loop. Which of course can’t be endless…but they will give it a try.
glad you are home and on the mend!
Kat, just saw these two links in my reader:
This one has a interactive media link:
Economic Security Beyond Reach of Many Americans – NYTimes.com
This one has a nifty graph that brings that post you had yesterday home to those of us who are visual learners…
Chart of the Day, Big Government Nanny State Edition | Mother Jones
Yes. Jobs today = income insecurity. Many of the homeless people here in New Orleans are actually employed in the hospitality industry but still can’t afford a place to live. I suppose you’re aware that Walmart frequently hands information out to its new employees on how to get on state food stamps, health insurance, and other benefits because they poverty wages in many locales.
Oh, my husband talks about some of his fellow Walmart slaves that are on lots of assistance. Of course, then you have those who make just above the amount for any assistance. Like my family, 10 bucks over the monthly amount considered as “poverty for a family of four” which leads to the government saying: “no help for you!”
Okay, I don’t like this April Fools Day joke one bit. I just had to shovel big piles of heavy, wet snow!
I was talking to someone in CT last night who was expecting snow… snowflake showers in April… wow!
We got more than I thought we would. I’m going to have to finish the job when I get home later. I did enough to get my car out.
Oh, Dear! I hope you made it to teach class in one piece! There’s always one big snowblowout that happens around my oldest daughter’s first day of spring birthday. I hope this is the last of it!!!
I made it to class. It’s a good thing the Red Sox are opening the season in Texas. The scariest part was that huge clumps of wet snow kept falling off the trees and hitting my car roof and windows–they were loud!
no joke B.B. we got some yesterday and noticed you on the news this morning getting all that.
It’s nature playing cruel jokes on us.
BB this is for you!
Thanks, I needed that!
Recall petition against Wisconsin Republican State Senator Dan Kapanke will be filed today. Kapanke was one of the Republicans who voted to strip public employees of their collective bargaining rights. Seven more of his ilk have been targeted.
Mabye democracy’s not dead after all. The EKG just twitched.
http://lacrossetribune.com/news/local/article_d5240e94-5c0c-11e0-b582-001cc4c002e0.html
I hope you’re right. They need to get rid of these crazy people.
There are seven more in the works–all the Republican State Senators who have served for over a year and are thereby eligible for recall. Walker can’t be recalled yet because he’s only three months into his term, but if Wisconsin can keep up the momentum, his days in the mansion are numbered.
I just read that the ex Governor Lucy who was supposed to be the campaign chair of the pro-Walker Prosser candidacy in the upcoming judiciary election just quit the campaign and switched to the opposition.
Also via Gallup:
Much more of this and Walker’s goons will be defecting as fast as Ghadaffi’s. According to the morning paper, another major member of the Libyan government went over the wall yesterday.
I hope you are right too.
The Muslim Sisterhood
Visions of Female Identity in the New Egypt
from Speigal on Line:
glad you are home Dak,rest and get better.
Thx so much! my body is definitely forcing the rest part on me. I get worn out just walking to the kitchen for juice.
Joseph Stiglitz on Income Inequality via Vanity Fare via Lambert and Corrente:
I am glad you posted that link Dak, the unemployment numbers came out too. Unemployment: The Good News, The Bad News, and What To Do About It – Susan Adams – Getting Ahead – Forbes
The overall number is down, but the hardcore unemployment is not going anywhere. The duration is horrible!
They usually release the adjusted figures right? The situation in our area is the same, there is no sign of things getting better. If anything the high cost of gas is affecting the people in my corner of Banjoland. When an average trip to town is a 40 mile round trip, and being a rural area everything is in town, the tank gets empty rather quick.
Most of it is seasonally adjusted but not all of it. It’s also usually revived about a month later. That rate won’t hold. By the time the state and federal budget austerity programs kick in, it will probably go back up.
That Forbes article is a good one. It really brings home the problems.
Oh good, I thought it sort of gave some good info…
Mona Elthahawy is doing an interview on CNN right now, it is very good. I will post a link to it when it comes out.
Still looking for the video, but there is this: How one voice can tell the story of an entire movement – CNN.com
and this:
Here is a transcript.
Libya’s Eman al-Obeidi Remains Missing Since Risking Life to Tell Story of Rape by Gaddafi’s Forces
I really hope these women can band together and make some process. It sure highlights that the struggle for women’s equality is a problem all over. We’re now having to fight all this backsliding here. It’s so sad. The evidence is overwhelming that a country will not be prosperous and healthy if its women and children are in trouble.
Some new updates on Fukushima:
TEPCO data credibility suffers on serious groundwater contamination | Kyodo News
and this:
Dog drifting atop roof rescued off coast of Kesennuma | Kyodo News
Wow, that dog should be named good karma.
Uh-oh. If it’s in the ground water, we’re all in deep doo doo.
Look at what that asshole in Florida, I guess I should be more specific since there are so many assholes in FLA these days. That prejudice intolerant asshole from the religious right…oops, no that clue does not help, okay…the asshole that burned the Qur’an on the quiet this month. UN staff killed in Afghanistan amid protests over Qur’an burning | World news | The Guardian
Be sure to look at the link for the photograph that has this as the caption:
Doncha just love all these extremist religious fanatics? Isn’t that iron age angry sky god thing working for humanity still? Doesn’t matter what branch of crazy they come from, it’s still crazy.
NPR is saying the deathtoll is now 12
I just heard that. Eight UN employees dead and four Afghanistan.
And speaking of FLA assholes:
Rick Scott Slashes Support for the Disabled | Mother Jones
Talk about your death panels. Private Managed Care.
His last name is misspelled–one “p” too many.
Pastor Who Burned Koran Demands Retribution for U.N. Deaths – NYTimes.com
Dak,
I hope you start to feel better. Keep an eye on the MRSA and make sure to make regular appointments. My mom contracted it when she was a property clerk at the jail. It’s cropped up in several instances again when she has had health problems. It never really goes away, it just goes into remission. Yucky,yucky stuff.
Colorado Republicans Block Civil Unions Bill As Opponents Warn Of ‘AIDS Tax,’ End Of Times