It's A Start

Love the mug shot

You know, it's refreshing when a billionaire ignores a judge, and the judge throws his ass in jail:

The elderly billionaire owner of Detroit's Ambassador Bridge has been jailed today for failing to meet court-ordered deadlines on a multimillion dollar construction project.

Manuel 'Matty' Moroun, along with company president Dan Stamper, has been sent to jail until his company complies with a 2010 court order to get the work on the $230m Gateway project done.

It is not yet clear how long the men will stay behind bars, but the work could take up to a year.

Well, were freed on appeal, so they only spent one night in the clink.

That being said, I want Wayne County Judge Prentis Edwards on the Supreme Court.

Ha Ha!

The latest PPP (pp)polling, Rick Perry is in third place in Texas.

Normally, even in losing a Presidential primary contest, one tends to pick up a bit of stature both locally and nationally, in the case of Rick Perry, I think that it may very well have destroyed his future prospects in the state.

Rick Perry has three big problems: Collapsing poll numbers, worse debate performance than J. Danforth Quayle, and … let's see … I can't … The third one, I can't … Oops.

And in the Further Adventures of Walker Wisconsin Asshole

They turned in the petitions for his recall.  They needed 540,208, and were hoping for about 750K.

They got more than one million!

That's more than ¼ of all registered voters.

The wind is blowing in from Wisconsin, and I smell toast ………… My bad that's Scott Walker, who smells a lot like toast right now.

BTW, it's not just Walker"

Democrats and union members also collected about 850,000 signatures to recall Republican Lieutenant Governor Rebecca Kleefisch and 20,600 names to recall [Republican] Senator [Leader] Scott Fitzgerald, about 4,200 more than necessary. Also targeted are Senators Pam Galloway, Terry Moulton and Van Wanggaard.

So, where was the Governor when this was all going on? He was in New York, raising money with Maurice "Hank" Greenberg at a $2500 a plate fundraiser.

Why was he raising large chunks of out of state cash from one of the prime architects of the AIG fiasco, whose bailout continues to cost taxpayers billions of dollars?

Why because those pesky lefties are flooding Wisconsin with masses of out of state dirty money.

Who says irony is dead?

Well, Damn! This is Interesting

William Cohan, Bloomberg Columnist and former investment banker unloads on Mitt Romney with both barrels:

By bidding high early, Bain would win a coveted spot in the later rounds of the auction, when greater information about the company for sale is shared and the number of competitors is reduced. (A banker and his client generally allow only the potential buyers with the highest bids into the later rounds; after all, you can’t have an endless procession of Savile Row-suited businessmen traipsing through a manufacturing plant if you want to keep a possible sale under wraps.)

For buyers, the goal in these auctions is to be one of the few selected to inspect the company’s facilities and books on-site, in order to make a final and supposedly binding bid. Generally, the prospective buyer with the highest bid after the on-site due-diligence visit is selected by the client — in consultation with his or her banker — to negotiate a final agreement to buy the company.

This is the moment when Bain Capital would become especially crafty. In my experience — which I heard echoed often by my colleagues around Wall Street — Bain would seek to be the highest bidder at the end of the formal process in order to be the firm selected to negotiate alone with the seller, putting itself in the exclusive, competition-free zone. Then, when all other competitors had been essentially vanquished and the purchase contract was under negotiation, Bain would suddenly begin finding all sorts of warts, bruises and faults with the company being sold. Soon enough, that near-final Bain bid — the one that got the firm into its exclusive negotiating position — would begin to fall, often significantly.

Of course, some haggling over price is typical in any sale, and not everything represented by sellers and their bankers is found to be accurate under close examination. But Bain Capital took the art of negotiation over price into the scientific realm. Once the competitive dynamics had shifted definitively in its favor, the firm’s genuine views about what it was willing to pay — often far lower than first indicated — would be revealed.

And then there is the closing line:

I have no idea how Romney might behave in office. I do believe, however, that when he was running Bain Capital, his word was not his bond.

This guy has clearly been waiting for years to unload on Romney, and this take-down is truly a thing of beauty.

H/t The Shrill One.

A "Black Door" to Co-Opting Occupy Wall Street?

Glen Ford's thesis is that the recent involvement of prominent African American clergy is an attempt by the Democratic Party powers that be to co-opt the movement, and I am inclined to agree:

The Occupy Wall Street movement has, to date, “been effective in warding off cooptation by Democratic Party fronts such as Rebuild The Dream and MoveOn.org.” But OWS’s recent alliance with Black clergy-based (and Russell Simmons-backed) Occupy The Dream raises serious questions in this election year. “It appears that Occupy Wall Street’s new Black affiliate is also in ‘lock-step’ with the corporate Democrat in the White House.”

The Democratic Party may have entered the Occupy Wall Street movement through the “Black door,” in the form of Occupy The Dream, the Black ministers’ group led by former NAACP chief and Million Man March national director Dr. Benjamin Chavis and Baltimore mega-church pastor Rev. Jamal Bryant. Both are fervent supporters of President Obama.

Occupy The Dream’s National Steering Committee is made up entirely of clergy, as are its Members at Large, but its secular inspiration comes from media mogul (and credit card purveyor) Russell Simmons, who was a frequent visitor to Manhattan’s occupied Zuccotti Park. Simmons is co-chairman, with Dr. Chavis, of the Hip Hop Summit Action Network, whose website is now mainly dedicated to the Occupy The Dream project. It is through Simmons that the ministers hope to attract entertainers and athletes to Occupy The Dream events.

………

Far from tamping their Obama fervor, the OWS brand equips the “Dream” ministers (and Simmons’ entertainment assets) to accomplish a special mission: to insulate the president from the Occupy movement and the national conversation on economic equality – or, better yet, to make him appear to be part of the solution. If they so choose.

………

We do, indeed, face a test in 2012: Will the Democratic Party be enabled to swallow up the Left – as it does every four years – including the fragile and tentative structures of the Occupy Wall Street movement? And, will the Democrats enter through the Black door?

Let's be clear, if Obama's campaign political operatives are not trying to co-opt OWS, they are incompetent, and this seems to be a low risk-high payoff tactic to accomplish this, so I'm inclined to believe that Plouffe's or Axelrod's finger prints are on this.

H/t Yves Smith.

Only In America

There's a deli near where I work, the Charwood Deli.

It's a little shop located in an industrial park.

It has the full range of deli sandwiches, along with hot sandwiches like cheese steaks, and their fries are very nice.

The proprietors are Korean, and they have about a dozen Korean and Korean inspired items which are quite good.

Well today, I got a Gyro, the Greek lamb based wrap.

Greek ethnic food cooked up for me, and done quite well, by Korean immigrants.

This is a microcosm of the immigrant experience in the United States, and something to be admired.

Buh Bye Jon

Huntsmman, that is.

Fundamentally, this is not really news.

The only people who really cared about him were the pack of reporters covering the Presidential campaign.

I think that the Republicans learned their lesson from the McCain debacle, when they decided to nominate someone for whom the press corps(e) had a man crush.

Yawn.