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Archive for the ‘Labor Policy’ Category

This is it for me, at least for this chapter.  I am off to join some people who don’t much appreciate voices singing out of key, and while they might be able to get over my public disdain for coaches who punt in opposing territory, it would be rather awkward to continue to point out the incompetence of the administration.  So for now, it’s probably best to hang it up.

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Still trying to process all of my objections to the current Afghan strategy into something moderately coherent, so I’ll start with a very different story: Fritz Henderson was rather suddenly and unceremoniously dismissed as CEO of GM.

General Motors Co. Chief Executive Officer Fritz Henderson resigned after eight months on the job as directors concluded he hadn’t done enough to fix GM’s finances and culture, people familiar with the matter said…Henderson’s exit caps a tenure that included aborted deals to sell the Saturn, Saab and Opel units, a struggle to replace top managers such as Chief Financial Officer Ray Young, and U.S. market-share losses. (more…)

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I’m a little surprised to see this:

Wal-Mart, the mightiest retail giant in history, may have met its own worthy adversary: Amazon.com.  In what is emerging as one of the main story lines of the 2009 post-recession shopping season, the two heavyweight retailers are waging an online price war that is spreading through product areas like books, movies, toys and electronics. (more…)

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For years we have been subjected to odd debates about whether the government should permit, encourage, or attempt to prevent the reimportation of prescription drugs from Canada.  Seniors love it; they want to be able to drive across the border and save money.  The drug companies hate it; they want to charge American prices.

That the entire debate happens offends good sense.  Drugs that are researched, tested, trialed, and manufactured in central New Jersey do not magically become cheaper from a round-trip drive along the New York Thruway.  If we are to discuss prescription drugs, the only policy question should be whether the US should do something to use the purchasing power of its 300mm person market to drive down the cost of drugs, not whether scattered northern seniors should be left to try to free ride on the purchasing power of 30mm Canadians. (more…)

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Now here’s an interesting verdict that doesn’t seem to get much press:

In a ruling that could leave the government open to billions of dollars in claims from Hurricane Katrina victims, a federal judge said late Wednesday that the U.S. Army Corps of Engineers had displayed “gross negligence” in failing to maintain a navigation channel — resulting in levee breaches that flooded large swaths of greater New Orleans. (more…)

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Short post to follow up on two things that were on Baseline recently.

First of all, take James’ advice and check out this Interfluidity post:

An enduring truth about financial regulation is this: Given the discretion to do so, financial regulators will always do the wrong thing.

Steve touches on several of the themes I tried to articulate here, and he does a better job explaining the motivations of each of the players. (more…)

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James Kwak over at Baseline has an post about the accounting treatment of Bank of America and Fannie Mae; quoting John Hempton:

If Bank of America were to provide at the same rate its quarterly losses would be 50-80 billion and it would be completely bereft of capital – it would be totally cactus. It would be – like Fannie Mae – a zombie government property.

Hempton claims that BAC has the right recognition policy and Fannie is being crushed by regulatory conservatism.  I think that’s about as likely as the Easter Bunny, but Hempton deserves credit for thinking outside the box. (more…)

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