John T. Walton dies in ultralight crash

John T. Walton, the middle of three sons of Sam Walton was killed yesterday in the crash of his experimental ultralight aircraft in Grand Teton National Park in Wyoming. Walton, whose net worth was in the $18 billion neighborhood, was 58.

It's been fashionable recently to despise Wal-Mart and the Waltons, but the SF Chronicle printed this about John:

Walton founded the Children's Scholarship Fund in 1998 to provide low-income families with money to send their children to private schools. The foundation started with $67 million from the Walton Family Foundation and benefited more than 67,000 children.

Jim Courtovich, who spent two years getting the Children's Scholarship Fund off the ground, said Walton was a devoted sponsor who "didn't just donate money, he donated time and energy." Walton would clear days at a time from his schedule to focus on the project, he said.

Courtovich also said that Walton had a casual manner and, like his father, not above doing chores himself. One time, skiing in Jackson Hole, he said Walton "had to leave early because he had to caulk his chimney."

It seems as if he was a pretty decent guy. And I hope I'm out flying around in ultralights when I'm closing on 60.

Google breaks $300

The shares of Google, the internet search leader, finished trading today above $300 and closed at $304.10, up $6.85. Google now has a market capitalization of $84.5 billion making it the 23rd largest U.S. corporation just ahead of Home Depot and just behind PepsiCo Inc.

From the Wall Street Journal:

Google's ascent has defied skeptics, whose lack of interest in Google's unusual "Dutch auction" IPO last August forced the company to lower its offering price to $85. Since then, Google's stock has more than tripled, compared with a 2% gain for the Dow Jones Industrial Average, and 1.2% rise for the tech-heavy Nasdaq Composite Index.

In spite of a P/E ratio above 120, many Wall Street analysts still have a "buy" or "strong buy" rating on the stock. Mark Mahaney, who follows the company for Smith Barney, has posted a target price of $360 on it.

Shortly after Google went public last summer, I told many clients I thought the stock was going to $50. It's starting to look as though I might need to revise my forecast.

Estate tax sham

Saturday's Washington Post condemned an estate tax proposal by Rep. Jon Kyl (R-Arizona) as a sham but the logic employed by the Post is too flawed to be taken seriously.

America's estate tax is being gradually phased out until its complete repeal in 2010 only to return in full glory in 2011, as if it had never been phased out at all. (How lawmakers can sleep after passing such convoluted legislation remains a mystery). Kyl's proposal would allow an $8 million exclusion for each individual rather than the $1 million currently slated to return in 2011.

From the Post:

No one expects full resurrection to happen, nor should it; the amount of estates shielded from taxation at that time, $1 million, is too low. But complete repeal is unjust, unnecessary and unaffordable; it would cost $745 billion over the first 10 years, $1 trillion if extra interest costs are included. Though the House has voted to make repeal permanent, proponents of that approach don't have the 60 votes necessary to close the deal in the Senate.

Politicians and liberal journalists don't understand the meaning of the word "cost". Cost refers to an expenditure not phantom revenue. Complete repeal won't "cost" a thing. If you hoped that your grandmother would send you $100 for your birthday but she didn't, did that cost you $100? Of course not. You're disappointed, but it didn't "cost" you a cent.

The Post's opposition to Kyl's proposal is based on the idea that the U.S. cannot afford to repeal the tax without consdidering the real issue which is that the estate tax is the most unethical and illogical tax of all.

State and local taxes make sense in that proceeds are used to fund schools, police and fire departments. Taxes on items like gasoline and tires make sense in that the proceeds are used to build and maintain roads and bridges. While our income tax system is far from perfect, it still makes some sense in that the proceeds are used fund a government that maintains an economic system that allows us to earn that income. But a tax on the value of everything accumulated over a lifetime, imposed simply because you died, makes no sense at all.

The Post believes Kyl's proposed exclusion is too high and his proposed tax rate is too low.

You'd think Democrats would not only see through this sham but be eager to pick up the fight. After all, the question is whether, at a time when the gap between rich and poor is widening, extraordinarily wealthy Americans ought to be asked to give back some of what they've been able to amass. But instead of seizing on the estate tax fight as a defining issue, Democrats have scared themselves into thinking that they'll be punished for standing up against repeal.

"Give back"? Wealthy Americans were not "given" their assets by the IRS and shouldn't be required to relinquish them to the federal government just because they had the misfortune of dying. If they choose to give back at death by leaving assets to their favorite charity that should be their choice.

You paid taxes on it when you earned it. You paid taxes on what you earned through intelligent investing. You paid taxes on it when you spent it. And if you bought real property, you have paid taxes on its value every year. So who should get to decide where it goes when you die, you or Congress?

Pirate Blogging

I'm blogging on a pirated wireless connection in Kansas where Mrs. THC and I are taking care of our three beautiful nieces, ages 9, 7 and 4 while their parents are in Italy. More later...hopefully.

Cooper and Kaiser

The San Francisco Chronicle's coverage of Elisa Cooper's legal struggle with Kaiser and its posting of patient data on a public website has been less than accurate and, in my opinion, not very fair to Cooper. Henry K. Lee's story today is a slightly better effort.

Kaiser fined $200,000

Kaiser Foundation Health Plan has been fined $200,000 by the California Department of Managed Health Care for unauthorized online disclosure of patient health information.

The agency's investigation found that Kaiser created a Web portal used for testing by its IT staff. The site contained confidential patient information, including names, addresses, phone numbers and lab results, and was set up and available for public viewing in 1999 "without the prior consent of those affected."

Back in January, former Kaiser employee, Elisa D. Cooper discovered the patient information on Kaiser's public website. She brought its existence to the attention of Kaiser but when they failed to do anything about the breach, she linked to the information on her blog. Cooper's actions were responsible for getting the media and the DMHC involved but has also caused her to be embroiled in legal wranglings with Kaiser.

I posted this account last month which includes an email I received from Elisa discussing some of the problems she has had with the media regarding her story. A lively discussion including participation from Alisa followed in the comments section of the May 20th post. (The comments counter reads "0", however the comments are still there).

Fathers Day

Dad was born in a tiny town in central Iowa to a country school teacher and a jack-of-all trades in 1925. He lived there until he graduated from high school and joined the Army in World War II.

When I was a kid and we'd drive to Iowa to visit Dad's folks, I remember walking into town and everyone saying, "Oh, you're Pinky's boy!" It was like Mayberry and I was Opie, everyone knew my father even years after he grew up and moved away. I didn't think that much of it because that's how small towns are, everybody knows everybody. But as I grew older I discovered it wasn't just Iowa where so many people knew my father. All of my life I would hear, "So you must be Al's boy" or "You're the judge's son, huh?".

But Dad was not the type you'd expect to know a lot of people. He wasn't especially outgoing and he didn't get involved in lots of civic projects or events. And professionally, while successful, he wasn't a great standout. So why does this man cast such a large shadow?

What makes Dad special and the reason people know and remember him is because he is the most honest and decent man on earth. All my life I never heard him say a negative word about anyone and I'm certain he never hurt another human being. I never heard him say anything he didn't believe in his heart to be true. He's been a great father and a wonderful role model.

Dad, I hope you had a good day today. I hope every father had a good day today.

Grizzly Peak

Mrs. thc graciously volunteered to sit with our three young nieces in the Midwest for a week while my brother and his wife are being entertained by the finest wineries in Italy (it's tough being in the wine biz). So I'm left to my own devices until I join her in a few days.

This morning I pumped up the knobbies on my trusty mountain bike, dusted off the saddle and headed up the hill to Grizzly Peak Road where I took this photo.

Mrs. thc: It's sunny and 70 in the Bay, dear. What is it there, 90?

Gerrymandering

Gerrymandering refers to the practice of manipulating the boundaries of legislative districts to benefit one group or political party to the detriment of another.

In 1812, while Elbridge Gerry, a signer of the Declaration of Independence, was governor of Massachusetts, the Republican-dominated legislature redrew district lines to favor Republicans over Federalists. A Federalist newspaper cartoon depicted the Essex county district as a salamander and the artist referred to it as a "Gerry-mander" although the governor was opposed to the practice.

One of the three major issues Governor Schwarzenegger wants on the ballot in a special election this November is a proposal to have a group of retired judges redraw district lines in California in an effort to make boundaries more sensible. And, according to the Los Angeles Times, Democrats are willing to go along...sort of.

But what is perhaps more puzzling is that Assembly Speaker Fabian Nunez (D-Los Angeles) has announced that Democrats are willing to go along with Schwarzenegger, relinquishing the power to draw their own district lines. They just want the first election with the new lines to occur after the 2010 census, when redistricting normally occurs.

My question to Nunez and California Democrats is, if redistricting is the right thing to do, then the sooner the better, right? Why wait until sometime in the next decade?

MJ

The Los Angeles Times is reporting that Michael Jackson intends to throw a big party for all of his faithful Saturday night.

To thank selected fans for their allegiance during his child-molestation trial, Michael Jackson and his family plan an invitation-only bash Saturday night at the Chumash Casino in Santa Ynez, although it is not clear whether the self-described King of Pop will be on stage.

Let's just hope it's adults only.

Doughnut Democrats

The Wall Street Journal's editorial page today compared the Democrat party to a doughnut--there's no center.

The Democratic leadership has arguably never been more overtly hostile to free markets, deregulation, tax reform and free trade than it is today. The National Taxpayers Union reports that last year the House Democrats recorded their lowest taxpayer rating ever, having voted just 13% of the time for smaller government and less taxes.

Seems to me to be more like a crescent roll, but I guess "Doughnut Democrats" has a nicer ring.

The only notable Democrat who is embracing any centrist ideologies is Hillary Clinton. She may be the only leader in her party that understands that the party's disenfranchisement of the middle class and its abandon of any moderate, let alone conservative, ideals has cost them elections.

The problem with Hillary is that we cannot be certain where she really stands on issues because she might just be putting up a moderate front so she can take a run at the White House. That means she's not a doughnut at all, she's a box of chocolates. You never know what you're going to get.


For additional perspective, take a look at Enlighten-New Jersey and Another Rovian Conspiracy.

Tsunami alert

In another subtle reminder that I'm not in Kansas anymore, yesterday the National Weather Service issued a tsunami warning for much of California's coast.

A 7.0 magnitude earthquake rocked the ocean floor Tuesday night about 90 miles southwest of Crescent City, sparking a short-lived tsunami warning across Northern California's coast and prompting a partial evacuation of the coastal town.

Now, you might think that someone who lived his first forty-two years in tornado alley would be accustomed to meteorological phenomena. But tornadoes are not as common in the Midwest as many believe. Either that or I was just lucky because, in all the years spent in Kansas, I never witnessed a tornado.

Anyway, I don't think all the "duck and cover" training I got in grade school is going to be very useful if a tsunami hits the Bay.

It's a big tent

Let there be no doubt that Republicans come from every walk of life and are every shape and size.

Busty blonde porn star Mary Carey is in Washington to attend the President's Dinner, an annual fundraiser for Republicans. This afternoon she met with reporters to show off her evening gown and talk about a Republican luncheon she attended.

"I met a lot of nice people," Carey said of the lunch, where presidential adviser Karl Rove spoke. "I met some people who talked about helping me with donating money to my next campaign."

She plans to run for lieutenant governor of California next year as an independent. But her trip to Washington has swayed Carey's political leanings. She says she's been a Republican "for a couple of days."

Carey ran for governor in the 2003 recall election in California and finished tenth in a field of 135 candidates.

Is there anyplace in the world where politics is more interesting than California?

The economics of wages

In the 1990's, President Clinton and Secretary of Labor Robert Reich, argued for increasing the minimum wage by suggesting that such action could actually attract new workers into the workplace. They based their theory on research by Princeton University economists David Card and Alan Krueger. But careful analysis of the Princeton study and common economic sense don't bear it out.

Today's San Francisco Examiner cites a study by economist Ken Sims for the Golden Gate Restaurant Association.

Many San Francisco restaurants are closing and others are just hanging on, according to a study that blames last year's 26 percent increase in The City's minimum wage and a slew of other new and increased local fees, taxes and regulations.

San Francisco's minimum wage stands at $8.62 per hour for 2005.

The conventional wisdom for raising the minimum wage, or for having one in the first place, is to help the working poor. It's very appealing to suggest that everyone should have a living wage, however, it's just not that easy.

To understand why such a law is actually harmful to low-wage workers, consider the employers' alternatives. If, for example, an employer is required to pay a worker $9 per hour for work that he values at only $6, he/she has several options. First, the employer could fire the low-wage workers and replace them with more productive employees. Secondly, he/she can outsource to contractors or worse yet, outsource to foreign workers. A third alternative is to automate. An employer can also chose to hire illegal workers who seem to be plentiful and willing to work for lower wages and virtually no benefits. Finally, as San Francisco restauranteurs are doing, they can chose to quit business altogether or relocate to an environment that is more business-friendly.

A living/minimum wage seems a compassionate thing. But can it actually work in the real world?

Backwards

Kansas, the land of Oz. Or, as the Kansas Department of Tourism would have folks believe, "The Land of Ahs". It was my home for most of my life and I'm proud of it. But what's the matter with Kansas is that people outside the state only know it for its backwardness.

Case in point, the Reverend Fred Phelps of the Westboro Baptist Church in Topeka, regularly makes headlines as his parishioners travel around the country to picket and denounce gays, Catholics and Muslims. Yesterday in Tracy, CA, thirteen members of his church showed up to protest at the Tracy High School graduation ceremony because another high school in Tracy received administrative support for their chapter of the Gay-Straight Alliance.

"We're here to preach to this generation that it's not all right to be gay,'' said Betty Phelps of Topeka, who carried one sign thanking God for the Sept. 11 terrorist attacks and another denouncing gays. "They need to learn some morals before Judgment Day."

The city of Tracy countered with about thirty police officers and 250 demonstrators complete with their own signs with slogans like "Keep Your Hate in Kansas" and "Hate is Not a Family Value".

According to the SF Chronicle (thanks for the photo) the demonstrations were peaceful. The only damage was to the image of Kansas and Kansans.

Ah, Kansas. What would Dorothy and Auntie Em think?

Bonus

It seems, from this AP story via the SF Chronicle, that we might be in for some bonus pyrotechnics on the Fourth of July.

The Hubble Space Telescope will be watching when the University of Maryland's Deep Impact space probe crashes into a comet July 4, setting off a cosmic firework that may be visible on Earth.

Deep Impact, launched January 12th, will release an "Impactor" to collide with the the Manhattan-sized comet and create a crater expected to be about the size of a stadium. The rest of the spacecraft will fly on by and record the impact with cameras and other high-tech instruments. How cool.

Big Brother?

Legislation is moving through Congress to renew 16 provisions of the USA Patriot Act that will expire at the end of this year.

The USA Patriot Act (Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001) was deemed necessary by 9/11 and was signed into law just 45 days after the 2001 attacks. The act includes provisions that make it easier for law enforcement and intelligence agencies to share information and allows for expanded wiretap and search capabilities.

In my work in the financial services industry, the Patriot Act requires much more information and documentation on clients and their money. New clients need to provide us with extensive information about themselves, their resources, their financial assets and employment. Certain types of transactions are reported to the federal government and we're very reluctant to open accounts for non-U.S. citizens or to wire funds to accounts outside the U.S.

How has the Patriot Act affected your job? Has it had any impact on your civil liberties or the liberties of anyone you know? Should these 16 provisions due to expire be made permanent?

Samaritan

Jon U, a 29 year-old good Samaritan, died Wednesday evening at a suburban Kansas City hospital from injuries received on May 20th while helping a woman whose purse was being stolen.

Police said U heard Ruth Peck's screams on the afternoon of May 20 as she struggled with a man who wrenched her purse away from her in a busy Olathe parking lot. U dashed after the thief and tried to retrieve the purse, reaching inside the getaway car. As they wrestled, the car sped away from the area of the Target store on West 119th Street with U being dragged alongside. The car hit a building, and U was pinned between it and the car. As others pursued the thief and held him for police, U was sprawled on the ground.

The charges against Brad Joseph Jones have been upgraded to felony murder. He had just been paroled from prison on May 12th after serving time for other purse robberies.

In hindsight, it's easy to say that Ruth Peck should have just let the purse go and Jon U should have remained a bystander. But it's my guess that each of them acted instinctivley. Ruth fought against wrong and Jon came to help.

U's wife, Stephanie is expecting their first child in August.

What would you do in these circumstances? Would you stop to think first or would you just act? And what does it say about our penal system that a thief would return to stealing just eight days on parole?

(Ruth Peck is an old acquaintance of mine. Thanks to tomw, another friend of Ruth's, for letting me know).

Weak

This is so weak.

The militant Islamic Jihad on Wednesday presented pictures of torn copies of the Islamic holy book, the Quran, claimed they were taken inside an Israeli prison and said soldiers were responsible for the desecration. Israel denied the charge and said the pictures were a fabrication.

I think I'll take pictures of some wrecked car somewhere and send them to my insurance company. I'll tell them it's mine and ask them to send me a fat check. Think it will work?

Dean on defense

Monday Howard Dean criticized the Republican Party for being a "pretty much a white, Christian party" and I commented on it yesterday. Today, on NBC's "Today Show" he tries to explain himself.

Dean noted that he, too, is a white Christian. But he said the GOP is too narrow in its scope and the Democratic Party is far more diverse.

Fine. The Democrat party might very well be more diverse ethnically than the Republican party. But I raised the question yesterday of how diverse/tolerant are they of other ideologies. Not very, it would seem if the party Chairman resorts to name-calling anyone with whom he disagrees.

While even prominent Democrats in recent days have distanced themselves from some of his comments, the outspoken Dean, appearing on NBC"s "Today" show, said criticism of him is meant by Republicans to divert attention from the country's problems and make him the issue instead.

Issue? Dean is not an issue. He's just entertainment.

Howard in San Francisco

Howard Dean made a stop in San Francisco yesterday and, according to the Chronicle, made more derogatory comments about Republicans. Big surprise.

Democratic National Committee chairman Howard Dean, unapologetic in the face of recent criticism that he has been too tough on his political opposition, said in San Francisco this week that Republicans are "a pretty monolithic party. They all behave the same. They all look the same. It's pretty much a white Christian party."

I'm certain that this kind of rhetoric played very well here in the Bay Area where we are as ethnically diverse a population as one will find. But diverse ideologically we are not. Tolerant of different ideologies we are not. Try telling a group of strangers at a party that you're conservative and watch everyone move to the other side of the room.

I'm also amused by the Chronicle's choice of words, "recent criticism that he has been too tough on his political opposition." Too tough? He hasn't been "tough" at all. He's been an immature, name-calling embarrassement to his party. Keep it up, Howard.

Uncle Milton

No doubt many Americans who lean toward liberalism feel that privatizing Social Security is just something Bush favors because he hates old people or because it would be a tasty bone tossed to his buddies on Wall Street. They also seem to be in complete denial that privatization has also been proposed in recent years by popular Democrats as well.

But privatization is not a new idea at all. The concept was first put forward by economist and Nobel Prize Winner, Milton Friedman in his 1962 book, "Capitalism and Freedom". Friedman recently told the San Francisco Chronicle that Social Security is really a Ponzi game.

"I've always been opposed to Social Security. I think it's a very unethical program. "

Asked why, if Social Security is so terrible, it is the most popular government program in American history, Friedman replied, "Well, because why does a Ponzi game work? It's easy to understand why it's popular. So far, on the average, retirees have gotten more out of the system than they put into it. "

At 92 Friedman still has a sense of humor. When the Chronicle asked him why he lives in San Francisco, liberalisms den, he quipped, "Not much competition here."

Coaster and Cisco

Coaster and Cisco came to live with us two years ago today as ten week-old kittens. A few days earlier, our sixteen year-old kitty, Jackson, was euthanized ending a courageous bout with cancer. During their first day in a new home, Mrs. THC and I had to go out for a couple of hours and later returned to find the two of them curled up together in Jackson's favorite spot, the back of a big mauve chair. How did they know it was the best napping spot in the house?

PG&E's challenge

Electricity. It's a fascinating physical phenomenon and an interesting business. What other commercial enterprise would launch a giant promotion encouraging customers to use less of its product?

We received a letter recently from PG&E announcing their 20/20 Summer Savings Program. If, from June 1st until September 30th, we use less electricity than we did during the same period last year, they'll knock 20% off of the cost of all of it. At first I thought it was silly, but 20% off the price of four months of electricity could amount to some serious dough. And they've challenged us, dammit! We're going to take a run at this thing.

Are any of you other PG&E customers accepting this challenge? Does anyone have any good tips on how to save electricity?

Deep Throat, the movie

The outing of Deep Throat is undoubtedly the biggest news story of the week and rightfully so. Deep Throat played a dramatic role in modern American history and it's amazing that four men, Bernstein, Woodward, Bradlee and Felt, were able to keep his identity a secret for thirty-three years.

So, as the news media are in a frenzy to learn more about Mark Felt and get interviews with Woodward and Bernstein, it occurs to me that the origins of the name "Deep Throat" may have been forgotten.

Deep Throat,the movie was released in theaters in the summer of 1972, about the same time as the breakin at the Watergate office complex. The 61 minute X-rated film starring Linda Lovelace had a production budget of $22,500 and scenes starring Lovelace were shot in just six days in Miami. Regarded as the most successful pornographic film of all time, estimates of total revenue vary from $100 million to $600 million.

Roger Ebert, the popular movie critic, did have some comments about the movie's total gross when he reviewed Inside Deep Throat, a documentary film about the movie. Ebert explains that in the 1970s when Deep Throat was made and released, most of the porn theaters were owned by the mob and they probably "inflated box office receipts as a way of laundering income from drugs and prostitution" so in fact Deep Throat did not really gross $600 million, even though that was the box office tally.

The film had attained such status in 1972 pop culture that Post reporter Bob Woodward chose the name for his secret source. Little more than a voice in a dark D.C. parking garage, Deep Throat provided "deep background" for Woodward and Berstein's reports.

The Democrats leader?

It's scary how close Howard Dean was to winning the Democratic nomination last year and perhaps the Presidency.

While discussing the hardship of working all day and then standing in line for eight hours to vote, Dean had said, "Well, Republicans, I guess, can do that because a lot of them have never made an honest living in their lives."

Technically I suppose he is correct, but I suspect there are at least as many Democrats who have never made an honest living either.

When did becoming DNC Chairman mean you had to get headlines by making a fool of yourself?

California compassion

We Californians are a compassionate lot. At least we like to think we are. And we'll do almost anything to make ourselves appear so.

Take as examples two suicide-related issues being discussed in California today.

First, the California Assembly will soon vote on legislation by Democrats Patty Berg of Eureka and Lloyd Levine of the San Fernando Valley that would legalize physician-assisted suicide. The San Francisco Chronicle is endorsing AB654, saying "It should be an individual's choice, not the government's."

Secondly, in San Francisco, the Metropolitan Transportation Commission has already forked over $1.6 million of the estimated $2 million necessary for a Golden Gate Bridge suicide barrier study. The barrier itself is expected to cost somewhere between $15 million and $25 million and would be designed to prevent the twenty or so suicides each year from the bridge.

Californians, with our unique brand of logic, can support both of these issues simultaneously because doing so makes us feel superior. We are compassionate.

A multi-million dollar loft for Oakland's homeless

Jack London Square, Oakland's upscale entertainment district, is the center of controversy involving Mayor Jerry Brown's swanky, $4 million loft.

Mayor Jerry Brown's decision to sell his converted warehouse in Jack London Square has pitted him against his former neighbors in what has become a classic "not in my back yard" debate.

At issue is whether the buyer's plan to convert it into a shelter that would house 30 young adults ranging in age from 18 to 23 is the right fit for a growing area packed with $700,000 lofts.

C'mon now, we've got to look at the bright side of this. Oakland could become known as the place to be for troubled young adults. The chamber of commerce could say, "Oakland: We shelter our homeless in multi-million dollar lofts!" Before you know it, we'll be attracting less-fortunates from around the country.

And talk about location! Jack London Square is rife with theatergoers, diners and night clubbers. Truly a target-rich-environment for pan-handlers, pickpockets, drug dealers and those who just enjoy harassing middle-class folk out for a night on the town.

And for those who complain that the shelter would be bad for their property values, relax. What's a hundred grand or two? Your loft was probably overpriced anyway.

(Thanks to Bernard at A Certain Slant of Light, without him I might have missed this story.)

Thirty-three years after Watergate

In June of 1972, five men were arrested breaking into the Democratic National Headquarters at the Watergate office complex in Washington, D.C. They were there to make repairs to electronic bugs they had planted previously.

In the months that followed, Washington Post reporters Bob Woodward and Carl Bernstein would eventually link the breakin to the White House while being fed inside information by a source identified only as "Deepthroat" named for pornstar Linda Lovelace. We now know that Deepthroat's true identity is W. Mark Felt, a high-ranking FBI official in the 70's.

The political dirty tricks of the 1972 election and the coverup in the aftermath would ultimately force Richard M. Nixon to resign the Presidency in the summer of 1974.

Questions: How big was Watergate, really? If it were to occur today, rather than in the early 70's, would it be enough to force a President to resign?

Pajaro Dunes sunset

Our close friends, Pat and Jeff, invited us to their beach condo near Watsonville, CA for some great companionship, food, sun, sand and, OK, maybe just a little wine. A fine way to spend part of our Memorial Day Weekend. Thanks guys!

Sunday evening we stepped out onto the beach to watch the sun go down and I took the opportunity to snap a few pix. I had already clicked off two or three fine sunset photos when Mrs. THC suggested that she might do a better job. I handed over the camera and she took just one photo. It is displayed above. She has a pretty good eye, huh?

Happy Anniversary!

Nineteen years ago, nearly to the minute, Mary walked down the aisle and we said our vows to become Mr. and Mrs. THC. Happy anniversary, dear.

Short your house

What if the U.S. housing market really is a bubble? And what if it is about to take a big nose-dive? What then?

Even though many economists and loads of homeowners agree that today's housing market bears remarkable resemblances to tech stocks five years ago, there's just not much that most folks can do about it. If your exposure to real estate is your own home, you're not likely to sell now just so you might be able to buy a bigger or better one in a couple of years. Where do you live in the meantime? And if you're waiting for prices to fall to buy a home, how do you know where the bottom is? What if a correction never comes and your dream home just keeps getting farther away?

Robert Shiller, a Yale finance professor and author of "Irrational Exuberance" just might have the solution. He is a lead figure at Macro Securities Research.

The New York research group has developed financial instruments--called "MACROs"--–that will be tied to a housing index that tracks property values in certain cities. By purchasing Up MACROs or Down MACROs, investors would be able to place bets on whether a property market is going to keep rising, or whether it's going to fizzle.

In effect, speculators could play the bubble: They could short the City of Angels and go long on the Big Apple, or vice versa. Homeowners in bubbly markets could hedge against a pop. They could stand to gain if the value of their homes go down. If property values keep rising, of course, the homeowners lose on their MACRO investments -- but at least their homes would be worth more.

MACRO has filed plans for the new securities with the Securities and Exchange Commission and hopes to have them begin trading on the American Stock Exchange later this year.

Anyone interested in hedging the value of your house? What markets would you short, betting values will fall and which markets would you go long, betting prices will rise?

Hot weather and barbeque

Memorial Day weekend, the ceremonial start of summer. Since moving to California a few years back, there are two things that I miss about summertime in Kansas City, hot weather and barbeque.

Now I do appreciate the mild temps of the Bay Area most of the year, but in the summertime I crave the kind of weather that gets folks to dust off the sunscreen and shorts. And as Mark Twain said, "The coldest winter I ever spent was one summer in San Francisco." The forecast for San Francisco today is 59 degrees. That's just wrong!

When it comes to barbeque, Bay Area folks don't really get it. Tossing a few burgers on the grill is not "having a barbeque", that's just grilling.

barbeque n 1: meat that has been barbecued or grilled in a highly seasoned sauce.

It's all about the sauce and there's just not a good selection in stores here. Gonna have to get back to K.C. and fill a suitcase.

Anyway, enough of this rant. It's Memorial Day weekend, enjoy! And I hope you have some hot weather and barbeque to help you celebrate.

The housing market--what will kill the boom?

At Berkshire Hathaway's shareholder meeting earlier this month, Warren Buffet commented on the housing market:

People go crazy in economics periodically, in all kinds of ways. Residential housing has different behavioral characteristics, simply because people live there. But when you get prices increasing faster than the underlying costs, sometimes there can be pretty serious consequences.

So much has already been said, written, predicted, speculated and surmised about the possibility of a "bubble" in housing, why not add even more rhetorical kindling to the fire? Here goes.

The most widely held belief has been that higher interest rates would bring about the demise of the boom. But Greenspan's Fed has tripled short-term rates in their last eight meetings and long-term rates have barely budged. So, if mortgages stay cheap, could the bubble still burst?

UCLA economics professor Edward Leamer believes such a scenario is already in the works: a flattening yield curve.

With long-term rates as sluggish as sea cows and Greenspan & Co. relentlessly raising short term rates, the gap between the two has tightened to nearly nothing. When the spread was very wide, banks raked in profits by borrowing at super-low short-term rates and then lending at high long-term rates. When the spread narrows, their margins get pinched, and they have less incentive to lend. Also, they have less extra cash to cover defaults, so they scrutinize new borrowers more carefully.

Fewer borrowers mean fewer buyers, and you don't need a UCLA economics professor to figure out the rest.

There are so many similarities between the housing market of '05 and tech stocks in early 2000. Are we headed for a bust? Is there anything we can do to stop it?

Right on the left coast

From the SF Chronicle:

Thousands of public employees staged the biggest political rallies of the year at the state Capitol and in Los Angeles on Wednesday, charging that Gov. Arnold Schwarzenegger's policy agenda shortchanges schoolchildren and undermines the fabric of California's poor and middle class.

Darren, a Sacramento area teacher was there and has this account of one of his experiences at Right on the Left Coast: Views from a Conservative Teacher. It's disgraceful that off-duty police officers would threaten someone for disagreeing with them politically.

KSU slackers

Along the banks of the Kansas River in Manhattan, home of Kansas State University, is an interesting sight. There, amid the lush green foliage, are the giant white letters "KS". Now, not a rocket scientist myself, but I'm inclined to think that the hillside initials are incomplete. Just where is the "U" that should follow the "S"? Did the artists run out of rocks or white paint? Perhaps the semester ended before they could finish? Or, as my friend Jim at The Shaggy Dog suggests, maybe they're just slackers.

As a graduate of the rival University of Kansas, I like the "slacker" explanation.

Click here for the Google aerial photo.

Thanks, Jim!

Give yourself a big raise

So what do you do, as a California state legislator, when the coffers are $22 billion in the red and the forcast for next year is an additional $5 billion shortfall? You give yourself a raise, of course!

On Monday, an independent state commission granted legislators a 12 percent pay increase, boosting their annual salaries for the first time since 1998. Beginning in December, lawmakers in both houses will see their salaries increase from $99,000 to $110,880 — the highest compensation in the country for state legislators.

Massachusettes arrogance

Back on January 30th, John Kerry promised to sign Form SF 180 to allow the release of his military records during an interview with Tim Russert on "Meet the Press". Well, he's finally signed the form...he just hasn't submitted it to the Navy yet.

From the Boston Globe:

'I have signed it," Kerry said. Then, he added that his staff was ''still going through it" and ''very, very shortly, you will have a chance to see it."

Six months after Kerry's loss to George W. Bush, it feels somewhat gratuitous to point out how hard it can be to get a clear, straight answer from Kerry on this and other matters. But as long as the Massachusetts senator is thinking about another presidential run, the candor gap remains on the table, because he puts it there.

His arrogance and disdain for Americans continues to overwhelm.

Cashing out?

It's quite tempting, when you know that your house could sell for 50-60% more than you paid for it a few short years ago. But what then? If you want to stay in the same city, everything around you has skyrocketed as well.

The California Association of Realtors has released sales figures for March and East Bay prices are way up again.

From the East Bay Business Times:

Alameda County saw its median home price hit $549,500 in March, up from March of last year's price of $441,500. The county's 24.5 percent price increase in a year's time outpaced the state's average of 15.7 percent, according to CAR's figures.

The only way that you can really win in this game is if you're willing to move to a less expensive part of the country. It's getting tempting...

Blogging Islam

The very thought that Americans might be desecrating the Koran created riots and murder while a report last week from Al-Qaida that killing innocent women and children was acceptable in the name of jihad, barely drew notice. It's no wonder confusion abounds. Does Islam really promote violence and hatred or is it just radical groups of Islamic extremists that cause comparisons to Nazism?

Three of my favorite bloggers have been engaged for the last couple of days in a debate over Islam and the ignorance many Americans have about the faith.

The discussion at Bloggledygook started with Taking Islam Seriously and has now migrated to a new post today, Seriously Responding to the Respondents.

Jim, at The Shaggy Dog, expresses his frustration in this post.

Finally, my good friend Vavoom at Tedrow Drive, describes what it is like to be an American Muslim and to feel the hatred and prejudice first hand in this post.

Read all of these posts and the accompanying comments and you are sure to come away with a broader knowledge of the problem and a better understanding of the spectrum of emotions people have. Regardless of your own feelings, I believe this is the most powerful example I've seen of the thoughtful expression and debate blogging can foster.

Clyde for Governor?

What is it about showbiz folk and politics?

Academy Award-winning actor-director Warren Beatty delivered a devastating critique of Arnold Schwarzenegger at a UC Berkeley commencement Saturday, and refused to rule out a Democratic run for governor -- saying that he would "think about it" if Schwarzenegger continues to endorse "a totally unnecessary special election."

And with her political experience, Annette Bening (Beatty's wife) would make a great first lady of California.

I'm an enterpriser

The Cafeteria Catholic links to this quiz developed by the folks at the Pew Research Center that analyzes your political typology. I took the quiz and I'm an Enterpriser.

DEFINING VALUES: Assertive on foreign policy and patriotic; anti-regulation and pro-business; very little support for government help to the poor; strong belief that individuals are responsible for their own well being. Conservative on social issues such as gay marriage, but not much more religious than the nation as a whole. Very satisfied with personal financial situation.

While my values don't match those of the group exactly, it's an interesting exercise. Take the quiz. There are nine typology groups. Which one are you?

(Sorry about the photo, I couldn't resist).

Common sense, part II

On March 19th I posted this about Elisa D. Cooper who was being sued by Kaiser Permanente for publishing patient information on her blog in apparent retaliation for being fired by the health care giant. Late yesterday I received this email from Elisa.

Hi -

I'm the person that's been "squaring off" against
Kaiser.

I did not sell, or attempt to sell, any patient
information on eBay. The reporter fell for an
insinuation Kaiser made in the lawsuit. I pointed out
to the reporter, Henry Lee, and I have complained to
the Chronicle about the error. The same reporter made
several major errors in a subsequent article as well.
They refuse to correct it despite the fact they
supposedly have an "immediate corrections" policy.

Your blog shows how when people read this stuff in a
reputable newspaper like the Chronicle, they just
assume it's true. From my own recent experience, I'm
never going to believe anything I see on the news and
read in the paper again. While you have no cause to
believe me one way or the other, I hope you will keep
your mind open to the idea that some reporters may be
choosing their "hot button issues" in advance, and
they look for the evidence to support that story -
even when that evidence isn't there.

--- Elisa

Today I took some time to read other publications' accounts of the story and learned that it is much more complicated than the San Francisco Chronicle made it appear. She had discovered patient data on a Kaiser website that was not firewall or password protected. She linked to it on her blog in an attempt to show how cavalier Kaiser was being with internet security.

As for trying to sell patient information on eBay, the Chronicle just might have made it up. It wouldn't be the first time.

Good luck with your battle, Elisa.

No swiping

According to this Associated Press story:

JPMorgan Chase & Co. said Thursday it will offer a new credit card that allows users to pay for items by holding the card near a terminal instead of manually swiping it.

As I read this story I was immediately reminded of something I saw while on the elevator in my office building recently. As you get off of the elevator, you have to hold a security card up to a reader to unlock the heavy doors leading out of the elevator foyer. We've all used cards like this and I've often seen women just hold their purses up to the reader. But the other day I saw a man hold his wallet up, only without taking it out of his back pocket. He just turned around and put his butt up to the card reader.

Imagine what life might look like if these new credit cards catch on.

English?

Am I the only one bothered that, here in the United States of America, I have to tell the ATM that I want my instructions in English?

Roth 401(k)

Beginning in January of 2006, employers will have the option to offer employees a Roth 401(k). That is, a 401(k) plan with the features and benefits of Roth IRAs.

Employees would have the option of contributing up to $15,000 per year ($20,000 for those over 50) on an after-tax basis. The kicker, like in a Roth IRA, is that all of your money could be taken out tax-free. For example, let's say you contribute $10,000 to a Roth 401(k) next year and never contribute another dime. We'll assume a 7% annual return and it stays invested until you retire in 30 years. Your account is now worth over $76,000 and you can take it all without paying a dime in income tax--you receive $66,000 that Uncle Sam never gets his mitts on.

In a traditional 401(k) plan, your contributions are not taxed as income when you earn it but it are taxed, along with all earnings, when you take it out. A $10,000 contribution could save you $2,800 (28% tax bracket) today, but, using 7% for 30 years like above, your $76,000 will all be taxed in retirement.

Too much of a good thing? Here are a couple of things to know. Most employers don't know about it and will not likely offer it to employees unless they are aware of an interest--talk to your employer. Also, this is part of a tax act that expires at the end of 2010, so unless Congress extends it, it's gone after five years.

Power outage

Electrical power was lost for much of downtown this afternoon including my office building. I hung around for awhile but, as it turns out, I really can't address many of my responsibilities without a phone, computer or lights to read by. Great excuse to leave early.

There was one elevator running on emergency power but I didn't want to risk being stuck in a dark box if it failed and, being a bit of a fitness nut, I decided to hike the stairs. Twenty-two floors. My legs were a bit wobbly for awhile.

Sicker and sicker

This whole Wendy's chili finger thing just gets more and more bizarre.

The Las Vegas man whose severed fingertip ended up in a cup of Wendy's chili gave his mangled digit to a co-worker to settle a $50 debt -- but had no idea it would be used in an alleged scheme to swindle the fast-food chain, the man's mother said Tuesday.

Fightin' words

According to the Associated Press, Al-Qaida posted an internet statement today blasting Secretary of State Condoleezza Rice and calling her a hag.

Alright. They've blown up the World Trade Center towers and part of the Pentagon. They've beheaded innocent civilians and posted the video on the internet. They have terrorized the Iraqi people and people around the world and killed thousands with cowardly suicide bombs.

But calling Condi a hag...them's fightin' words. Now I'm really pissed.

Media and the military

An editorial in today's Wall Street Journal suggests that Newsweek's blunderous story about flushing a Koran wasn't an honest mistake. Rather it's part of a basic media mistrust for the military that goes back to Vietnam. The editorial concludes:

We have all been reading a great deal lately about both the decline of media credibility, and the decline of both TV news viewership and newspaper circulation. Any other industry looking at such trends would conclude that perhaps there is a connection. Certainly a press corps that wants readers to forgive its own mistakes might start by showing a little more respect and understanding for the men and women who risk their lives to defend the country.

Sportsmanship

Throwing chairs, throwing cellphones, throwing beer and throwing punches. All just part of professional sports, right? Not just for pros anymore.

Rohnert Park police are seeking criminal charges against as many as 10 people following a bloody melee over the weekend at a girls rugby tournament during which two coaches and a referee were beaten so badly that one was knocked unconscious in fighting that spread from adults to the teenage players.

Professional sports have set such a great example, is it any wonder that there's now violence in high school girls' sports?

Buy direct and save

In 1933 the Constitutional Amendment that ended prohibition gave birth to a three-tiered distribution system: liquor producer to licensed wholesaler to licensed retailer, with great powers given to the individual states. This system enabled states to track and tax alcoholic beverages and, in many states, control pricing. The Supreme Court ruling today throws a wrench in the crusher.

The Supreme Court ruled today, in a case of interest to millions of wine-drinkers and those who make a living in the multibillion-dollar industry, that people can buy wine directly from out-of-state vineyards.

Those arguing against this "direct from producer to consumer" ruling insisted that it would enhance minors access to alcohol. The Supremes weren't buying it.

But the ruling raises a couple of interesting questions. Why couldn't retailers now buy directly from producers, eliminating the wholesaler altogether and reducing prices to consumers? For that matter, why couldn't consumers buy beer and liquor directly from producers too?

I'm the guy with a pallet of Dewar's being delivered on my driveway.

Red and blue, rich and poor

In this op-ed piece in Sunday's NYT, David Brooks cites a Pew Research Center study to support what he has sensed about rich people and poor people for a long time.

The educated-class liberals, who make up about 19 percent of the electorate, and the business-class conservatives, about 11 percent, are pretty well represented by their political parties and are not likely to change. But poorer voters are more conflicted and not well-represented by either party and it's this lower middle class that could swing future elections.

Poorer folks have already had such an impact. In 2004, George W. Bush won the white working class by 23 percentage points. Why have so many working class voters aligned themselves with the GOP?

These working-class folk like the G.O.P.'s social and foreign policies, but the big difference between poor Republicans and poor Democrats is that the former believe that individuals can make it on their own with hard work and good character.

According to the Pew study, 76 percent of poor Republicans believe most people can get ahead with hard work. Only 14 percent of poor Democrats believe that. Poor Republicans haven't made it yet, but they embrace what they take to be the Republican economic vision - that it is in their power to do so. Poor Democrats are more likely to believe they are in the grip of forces beyond their control.

Brooks concludes with the assertion that Republicans haven't yet figured out how to explore their biggest growth market, but they will have to in order to compete with Hillary Clinton who is already very popular with poor Republicans.

Where's the outrage?

Mexican President Vicente Fox made an interesting comment about our immigration problems on Friday.

"There's no doubt that the Mexican men and women _ full of dignity, willpower and a capacity for work _ are doing the work that not even blacks want to do in the United States," Fox told a meeting of the Texas-Mexico Frozen Food Council in the western city of Puerto Vallarta on Friday.

Even more interesting was Jesse Jackson's response to it.

The Rev. Jesse Jackson told CNN that the comments were "unwitting, unnecessary and inappropriate."

What? That's it? That's all Jackson had to say about one of the most racist comments from a politician since George Wallace? I guess you have to be an American Republican to get one of Jackson's full-blown, fire and brimstone demands for resignation.

Bernard Higgins at A Certain Slant of Light has more in this post and this one. And Daniel at Bloggledygook has some interesting perspective as well.

New to my blogroll

Blogging around recently I've discovered a couple of fun and interesting blogs that I've now added to my blogroll. Fred's World and i love a rainy night... have become frequent stops for me--check 'em out.

Sicko!

I think we all suspected from the very beginning that Anna Ayala was perpetrating a scam against Wendy's, but now it's all over but the guilty plea.

The finger found in a bowl of Wendy's chili belongs to an acquaintance of the husband of Anna Ayala, the 39-year-old Las Vegas woman who claimed she had bitten into the finger, San Jose police said this morning.

The Bay Area Wendy's saw their revenues decline by 20% since the incident. Geez, all because this sick woman was looking for the easy way.

Don't know much about history

The Chicago Sun-Times is reporting that some Evanston Township High School students would like a debate with Rush Limbaugh to show their knowledge of WWII after Limbaugh made some derogatory comments about their curriculum.

Rush Limbaugh said on his nationally syndicated radio show that Evanston Township High School students "don't know anything about World War II" and "they've probably never heard the name Adolf Hitler" because they're so focused on a multicultural curriculum.

I have no idea if Limbaugh's assertions have any validity, but the story reminded me that I have always felt much of the 20th century was ignored when I was in public schools. My history classes put a lot of emphasis on the colonization of America, the American Revolution and the Civil War. As a junior in high school my history class covered the 1920's and 1930's but stopped short of World War II.

Are schools today teaching much 20th century history? Does anyone else feel that there were important periods of history ignored by your schools?

UAL and Social Security

The Wall Street Journal made an interesting point about United today.

The unions are blaming United management for the pension fiasco, and not without some cause. But they have helped to put the industry into its current state by using the whip hand they are given under the Railway Labor Act to threaten strikes and force up labor costs in the good times. Now the unions are discovering that they will lose some of the pension benefits they bargained for. The same thing will eventually happen to the Social Security benefits of workers if the AFL-CIO and AARP succeed in blocking private investment accounts.

There is really very little difference between the condition of United's defined benefit plans today and where Social Security could be in a couple of short decades unless some major renovation is made to the aging plan.

As for United, several labor unions are threatening to strike if the company goes through with its intention to default on several pension plans. That could very well be the end of United.

Head cold at 40,000 feet

We traveled to the Midwest to visit family for a long weekend and I arrived back home yesterday with a miserable cold. I didn't even feel like turning on the computer last night and now it's been days since I've posted anything.

You just haven't lived until you've flown four hours with a head full of crap. The pressure changes on take-offs and landings give you that sinus squeeze where you can't be sure if your head is going to burst or implode. It just hurts. And trying to pee in those claustrophobic lavatories while your head is throbbing and your balance is off is an adventure in itself.

Anyway, I'm staying home today to consume massive quanities of fluids and pop Sudafed and aspirin. Maybe I'll get a little blogging in between naps.

SF in the AM

I stopped and took this photo on my way to work this morning and wanted to share. I hope you enjoy it.

Red hot hybrids

The Toyota Prius is becoming one of the hottest cars in California and, following the lead set by California real estate, they're selling at a premium.

Far from sticker shocked, buyers have in the past year have paid private sellers and used car dealers $1,000 to $3,000 above the advertised price of a new 2004 or 2005 model, according to Irvine-based Kelley Blue Book, which tracks used car prices. Older Prius models are not seeing the same phenomenon.

According to the SF Chronicle, Priuses list new for $21,000-$26,000 but it's not unusual for a used one with a few thousand miles to go for $27,000 or more.

Are these cars as hot in other parts of the U.S. as they are here? Are they really that great or has it just become a status thing?

No police

It's been a wet spring in Northern California but today's shower was particularly annoying because it really started coming down as I was walking the two blocks from my office building to the parking garage.

While trying to avoid the puddles along the sidewalk, I heard a car on my left sliding on the wet surface and then a loud thud followed by the sound of small pieces of glass and plastic bouncing around on the asphalt. I turned to see that a Honda Accord had buried itself in the rear bumper of an older BMW. Steam was already rising from the hood of the Honda.

I stood in the rain to be sure no one was hurt and both drivers got out and appeared to be ok. The driver of the Honda, an Asian boy in his teens, seemed to be pleading with the older woman from the BMW. I couldn't hear what they were saying but I could tell she was upset so I walked into the street to see if I could help.

The Asian boy's English was quite poor but he was begging the woman not to call the police because he didn't have insurance. She asked me what to do and I told her to call 9-1-1. This made the Asian boy more upset, he pleaded, "no police, please, no police!" The woman made the call and afterwards thanked me repeatedly for stopping to help. I hung around for a couple of minutes to be sure everything was alright and then went on my way.

Now I can't help feeling sorry for the Asian boy and a little guilty for having the woman call the police. Did I make the right call? What would you have done? What would have happened if she didn't call the police?

Four dead in Ohio

The Shaggy Dog commemorates the 35th anniversary of the "Kent State Massacre".

Republican leaders and the religious right sing different hymns

Somehow the debate over the Bush administration's judicial nominees has degenerated into a debate over religion in government. Actually it degenerated into a debate over the history and appropriateness of the filibuster first and from there it degenerated into a religion fracas. Some Democrats feel that their opposition to the nominees has been taken as an "attack on people of faith". While they might be getting this impression from leaders of the religious right, it is does not seem to be the message from the White House.

Michael Kinsley from the LA Times was impressed by Bush's remarks on the subject in last week's news conference.

Starting with the cliche that in America you can "worship any way you want," Bush plunged gratuitously into a declaration that "if you choose not to worship, you're equally as patriotic as somebody who does worship." How long has it been, in this preacher-spooked nation, since a politician, let alone the president, has spoken out in defense of nonbelievers?

The people who oppose his judgeship nominees aren't prejudiced against religion, he said. They do it because they have a different "judicial philosophy."

And Sunday's Kansas City Star had this.

Repeatedly, in recent weeks, top Republicans have tried to signal their Christian conservative allies that religious-based attacks on Democrats and the judiciary are inappropriate. Senate Majority Leader Bill Frist, R-Tenn., said this a week ago, on a religious right broadcast. That same day, Sen. Lindsay Graham of South Carolina weighed in, telling Fox News: "I would call on them not to say that Democratic senators are not people of faith, or (suggesting) that they are religious bigots. I don't think that's fair."

Circulation problems

In this Associated Press story, the Washington Post reports the circulation woes of America's newspapers.

Circulation fell broadly at major newspapers in the six-month period ending in March as the industry struggled with the impact of do-not-call rules, competition from other media and the migration of readers online.

The Los Angeles Times, the Chicago Tribune and the San Francisco Chronicle each showed readership declines of over 6 percent and the average paid circulation of the 814 newspapers surveyed declined 1.9 percent.

The industry was quick to blame electronic media and the internet for the losses and the new federal do-not-call list for papers' inability to sign up new subscribers.

But what about credibility problems caused by their biased and sometime fraudulent reporting (Jayson Blair, et al)? Aren't many Americans just fed up with the quality of many newspapers?

I'm also a little intrigued by the idea that newspapers were so dependent on phone solicitation to sell subscriptions. Do a lot of people really decide to subscribe to a paper because someone called during dinner to offer a great deal on 12 months of home delivery?

Glittering grills for girls

At my high school prom it was all about the dress or the tuxedo, maybe a rented car--but that was long ago and far away.

No longer just for rappers and street toughs, gold teeth have gone to the girls. For prom or a day in the park, girls from the Bay Area to the Bayou to the Bronx are accessorizing their smiles. Bay Area makers of the removable mouthwear say teenage girls are the fastest-growing segment of their customer base.

According to the SF Chronicle, gold teeth have become the latest teen fad. I was just getting used to pink hair, tatoos and nose rings.

Filibustering hubbub

"Again and again in recent years, the filibuster has been the shame of the Senate and the last resort of special-interest groups. Too often, it has enabled a small minority of the Senate to prevent a strong majority from working its will and serving the public interest."
Ted Kennedy

"I have stated over and over again on this [Senate] floor that I would...object and fight against any filibuster on a judge."
Patrick Leahy

"[E]veryone who is nominated is entitled...to have a hearing and to...have a vote on the floor. It is not...appropriate...not to bring them to the floor and not to allow a vote."
Joe Biden

In all of the hubbub over judicial filibustering, I've forgotten to ask the all-important question, "what is it about these nominees that has Democrats' panties in a big collective knot?" Are they all just a bunch of bible-thumpin', pistol-totin', abortion-hatin' religious zealots out to destroy apple pie, motherhood and the American way of life? Isn't that what all Republicans are?

Today's Chicago Tribune has the only rundown I've seen on who the nominees are and why Democrats might oppose them.