Friday, April 3, 2009

Detroit Public Schools $300 Million InThe Red!

How does a public school system operate with a $300 million deficit while at one point spending $15.2 million in unrecorded invoices and contracts to 597 employees that weren't supposed to be on the payroll? Well the Detroit Public School System can claim this fact, without many answers. Essentially the system has been robbed blind by greedy people looking out for their own self interests over the years. This is probably a tale that has been duplicated throughout the public school systems in our country. Thanks to the Detroit Free Press for the article.

Thursday, April 2, 2009

Touching The Queen!

Our President and First Lady are obviously the hottest thing going in the world right now, and both are obviously savoring and enjoying the moment. Michelle Obama has caused a little stir by placing her arm around Queen Elizabeth II during their visit to England, which apparently is a breach of protocol. Our First Lady is the Queen of Firsts, so I'm sure she didn't think twice about chatting it up and touching the Queen of England.

Could It Be Over For The Answer?

Mercurial guard Allen Iverson has had a Hall of Fame basketball career, but with the wear and tear of years of pounding on his small frame have led him to a crossroads in her career. Iverson, who now plays for the Detroit Pistons has logged 18 minutes in his last 2 games while coming of the bench, and he's none too happy about it. In typical Iverson form, he's complaining about lack of playing time and venting to anyone who will listen. Iverson is a free agent after the season, and truthfully his days as a superstar are probably over, which is tough for any elite athlete to accept. He has hinted to possibly retiring, but I doubt if that's a realistic option with millions of dollars still out there to be made.

Mr. Iverson, welcome to the real world, where you're only as useful as long as you viable and useful to your employer. Hopefully you've banked a good portion of your millions just in case you really do decide to retire.

Wednesday, April 1, 2009

Describing Black People As Animals!

A Philadelphia police has been placed on desk duty after making disparaging comments regarding the residents in the district that he serves. William Thrasher who is white made some of the following comments to a Temple University student who was riding with him during a ride along on January 30th. Below are some of the comments published in an article supplied by the Philadelphia Daily News:

"don't care about each other. . . . They'll shoot each other for drugs, for money, for bull----. All they care about is their reputation. They want to look tough."

"These people are f------ disgusting," he told McDonald. "It's like they're animals."

To be fair to the officer, who is 24 years old, he did state within the article that he isn't racist, but comments as hateful as the one's he's being quoted as saying if true, probably disqualify him from being able to serve all people.

Tuesday, March 31, 2009

The Next Bailout Victim!

While AIG has received a lot of attention for bailouts and bonuses, the Los Angeles Times reports that the next wave of bailout victims could be life insurance companies. AIG's life insurance division has suffered massive losses due to bad investments. Allstate is another company that has suffered major losses but remains well capitalized according to reports.

I'm not sure if this figure is correct, but I've read that 78% of African American families don't have life insurance. If this number is indeed correct, it's a very sad commentary on our planning for final expenses. Worst case scenario, the government will make sure these companies honor their commitments to policyholders if that is necessary. Expect the losses to subside over time, however, as the companies become more conservative in their investment options.

Slow Down Andre!

Rapper Andre 3000 was arrested for driving his Porsche 109 mph in a 65 mph zone in Stockbridge, Georgia, a suburb of Atlanta. Andre 3000, whose name is Andre Benjamin, please slow down and drive at least close to the speed limit.

Monday, March 30, 2009

Obama Fires Wagoner!

When you essentially run a company into the ground leaving many of your employees unemployed, and have to borrow billions from the government, with more to come, your time as the CEO has to eventually end. Rick Wagoner was essentially fired by President Barack Obama yesterday as CEO of General Motors while the government continues to inject money into the ailing auto company.

This may have been our president's first act of toughness while in office. He'll have some other tough choices to make if certain people in his cabinet don't start performing better very soon.

Vick's Plan!

Michael Vick does have a plan once he's released from prison as he attempts to rebuild his life according to the Atlanta Journal Constitution, and in terms of coming out of bankruptcy it depends on his return to the NFL. Vick is hopeful of earning $10 million a year, and only keeping $750,000 of that with the remaining going to creditors on a sliding scale.

This plan does come with hurdles, however. Primarily Vick's NFL future is solely in the hands of Commissioner Roger Goodell, who must allow Vick to be reinstated back into the league. Perhaps upon his release from prison, Michael Vick will have a renewed sense of right and wrong and make better life decisions. Vick could take a page from a youngster, LeBron James, who was profiled on "60 Minutes" last night. James credited his mother and God with looking after him, as he's avoided the pitfalls of going down the wrong path.