Showing posts with label Bus Econ 2012. Show all posts
Showing posts with label Bus Econ 2012. Show all posts

Sunday, May 20, 2012

Eagle Archive: Budget and the economy were worries in 1837 ... and still are

Eagle Archive: Budget and the economy were worries in 1837 ... and still are

by Kevin Dayhoff


This is the time of the year when many citizens turn their attention to the budget processes of Carroll County government and its eight municipalities. No matter where you live in Carroll County, money matters.

Statewide, Gov. Martin O'Malley has announced that on Monday, May 14, the General Assembly will get together for a couple of days to raise taxes and enact more laws, rules and regulations. (For more on this read, "Delegation says county stands to lose $1 million in special session," on ExploreCarroll.com.)... http://www.baltimoresun.com/explore/carroll/opinion-talk/ph-ce-eagle-archive-0513-20120509,0,1799107.story



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Wednesday, April 11, 2012

Kevin Dayhoff The Tentacle - An Odd New Economic Cycle Driven by… Wednesday, April 11, 2012


Kevin E. Dayhoff: As the economy staggers in the third year of a very odd economic recovery, last Monday the stock market fell sharply in the first day of trading since the Labor Department released a disappointing jobs report for March. The last three years of supposed economic recovery looks like a strange trip, indeed, and the next economic cycle is looking to be even stranger… http://www.thetentacle.com/ShowArticle.cfm?mydocid=5032



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Related: Four is the loneliest number by Kevin E. Dayhoff The Tentacle



Wednesday, April 4, 2012 Four is the loneliest number Kevin E. Dayhoff: After former Massachusetts Gov. Mitt Romney’s likely primary victories in Tuesday’s contests in Maryland, Washington, DC, and Wisconsin, look for establishment Republicans to start looking for a running mate and the establishment media to focus its attention on getting President Barack Obama re-elected… http://www.thetentacle.com/ShowArticle.cfm?mydocid=5018


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Related:

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Now look for establishment media to focus its attention on getting President Barack Obama re-elected http://tinyurl.com/7y24ne7






Van Jones: Romney Should Pick Condoleezza Rice as VP and 'Watch the Obama Campaign Go Crazy' Noel Sheppard Sunday, April 1, 2012 http://mrctv.org/videos/van-jones-romney-should-pick-condoleezza-rice-vp-and-watch-obama-campaign-go-crazy






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Kevin Dayhoff is an artist - and a columnist for:

Twitter: https://twitter.com/kevindayhoffTwitpic: http://twitpic.com/photos/kevindayhoff
Kevin Dayhoff's The New Bedford Herald: http://kbetrue.livejournal.com/ = www.newbedfordherald.net

Tumblr: Kevin Dayhoff Banana Stems www.kevindayhoff.tumblr.com/
Smurfs: http://babylonfluckjudd.blogspot.com/
Google profile: https://profiles.google.com/kevindayhoff/

E-mail: kevindayhoff(at)gmail.com
My http://www.explorecarroll.com/ columns appear in the copy of the Baltimore Sunday Sun that is distributed in Carroll County: https://subscribe.baltsun.com/Circulation/
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Wednesday, April 4, 2012

Eagle Archive: Shopping for a silver anniversary present for TownMall

Eagle Archive: Shopping for a silver anniversary present for TownMall





It was Wednesday, March 4, 1987, at 12:45 p.m. that Cranberry Mall — now known as TownMall of Westminster, on Route 140 at Center Street — held its much-anticipated grand opening.

"Cranberry Mall was a long time in coming to Carroll County," recalled a story in the Baltimore Sun in 2000. "A sign planted in farmland flanking Route 140 had boasted that a shopping center was coming soon, but for 15 years nothing happened."

Then it was in 1985 that a New York-based developer bought the land and broke ground for the shopping center, according to newspaper accounts.

Construction continued in earnest in 1986 on the $36 million, 428,392-retail square foot facility. The March 4, 1987, edition of the Gettysburg Times reported that the mall created "close to 1,000 jobs ... (and) generated $9 million in local contracts. Projected tax revenues include $2.6 million in sales taxes, $1.6 million in income taxes and $543,000 in property taxes." … http://www.baltimoresun.com/explore/carroll/opinion-talk/ph-ce-eagle-archive-0311-20120307,0,6391220.story




 Google profile: https://profiles.google.com/kevindayhoff/
Kevin Dayhoff Art: http://www.kevindayhoff.com/ (http://kevindayhoffart.blogspot.com/http://www.kevindayhoffart.com/ New Bedford Herald: http://kbetrue.livejournal.com/ Twitter: https://twitter.com/kevindayhoff
Google profile: https://profiles.google.com/kevindayhoff/ “Each one should use whatever gift he has received to serve others, faithfully administering God’s grace in its various forms.” 1 Peter 4:10

Saturday, March 24, 2012

TownMall of Westminster celebrates its 25th birthday By Kevin Dayhoff March 11, 2012


On Friday afternoon, March 2, 2012, local community leaders, led by Bob Mathers of WTTR got together to celebrate the 25th anniversary of the TownMall of Westminster.

Westminster Mayor Kevin Utz and police chief Jeff Spaulding joined Carroll County Commissioners Robin Frazier, Dave Roush, and Haven Shoemaker for the celebration.

Also participating in the event was Julianna M. Albowicz, a representative of U.S. Senator Barbara Mikulski, Carroll County Chamber of Commerce President Mike McMullin and the TownMall General Manager Robyn Clark.

Older folks in the greater Carroll community can still remember the excitement when, on Wednesday, March 4, 1987 at 12:45 p.m. the Cranberry Mall, now known as the TownMall of Westminster located on Route 140 at Center Street in Westminster, held a long awaited – and much-anticipated grand opening.

On March 4, 2000, Baltimore Sun writer Jennifer McMenamin reported, “Cranberry Mall was a long time in coming to Carroll County -- a sign planted in farmland flanking Route 140 had boasted that a shopping center was coming soon, but for 15 years nothing happened.

“When a New York-based developer bought the land in 1985 and broke ground for the shopping center, local economic development officials heralded it as a regional attraction that would bring 1,000 jobs and generate $2.6 million a year in sales taxes.”

According to Commissioner Shoemaker, 12,000 tons of steel from South Carolina, 65,000 sq. ft. of marble tile from Italy for the floors, and 50 miles of electrical cable, were used in the $36 million spent on the construction and development of the mall.

On behalf of the Carroll County Board of Commissioners, Commissioner Shoemaker read a county proclamation and shared a few personal observations; including the point that the TownMall also serves as a social gathering place for older folks and not just teenagers…

The mall has seen many changes since it opened as the first and to this day, the only fully enclosed shopping facility in Carroll County.

It was also that year that Carroll County celebrated its 150th anniversary with a schedule of festivities that lasted throughout the year and included a visit by Roy Rodgers on May 30.

In hindsight, as I can best remember, the opening of the regional mercantile center was not necessarily part of the Carroll County birthday festivities that year, although it should have because it actually fits well in the history of county.

In the second-half of the 1700s, especially after the end of the French and Indian War in 1763, Carroll County and the Westminster area quickly gained importance in the central-Maryland and mid-Atlantic area as a regional mercantile center – in particular for pioneers headed west to the then-frontier of western-Pennsylvania, Ohio and beyond.

According to numerous history accounts, including the March 4, 1987 edition of the Gettysburg Times, the grand opening celebration continued until Saturday, March 7 and included entertainment and guest appearances by local community leaders and elected officials.

In 1987 the mall was the first and - twenty-five years later – the only fully enclosed regional shopping center in Carroll County.

Construction had begun in earnest in 1986 on the $36 million, 428,392-retail square foot facility located on Center Street at the intersection of Routes 27 and 140, in the northern end of Westminster. It was reported at the time that it was the sixth mall built in Maryland by the New York-based Shopco Group.

The Gettysburg Times reported that in 1987 the mall created “close to 1,000 jobs … and … generated $9 million in local contracts. Projected tax revenues include $2.6 million in sales taxes, $1.6 million in income taxes and $543,000 in property taxes.”

In March 1987, the mall was built to accommodate 89 stores. At the time of the grand opening, 35 stores were open for business, “with about 60 percent of the space (in the mall) currently leased… including two of the three anchor stores, Caldor and Leggett,” according to the Gettysburg Times.

The third anchor was to have been Hutzler’s department store, which had leased space before the mall opened, but then, unfortunately, it went bankrupt.

However, the space that had been set aside for Hutzler’s was quickly snapped-up by Sears that opened shortly after the opening.

Five-years later, Kerry O’Rourke reported for the Baltimore Sun on March 15, 1992, “Cranberry Mall celebrates its fifth anniversary this month with 94 percent of its space leased and retail sales on the rise. Sales at the shopping mall increased 3 percent from 1990 to 1991, a year when other Baltimore-area centers saw a decline, an industry spokesman said.

“The opening of Montgomery Ward & Co. -- the mall's fourth anchor store -- in November 1990 was a boost for the center... About 2,500 people visit Cranberry Mall on a typical day… The 525,000-square-foot center employs 500 to 600 people… Cranberry Mall is owned by Shearson Shopco Malls Limited Partnership, based in New York. The owners paid $444,759 in property taxes for 1991-1992, county records show… Mall receipts -- excluding sales at the anchors -- were about $30 million last year…”

However the decade of the 1990s were not kind to regional malls and the TownMall was not spared from the vagaries of a changing marketplace. It was important that the mall change with the times.

When I took office as a Westminster councilmember in May 1999, vacancies at the TownMall, according to old mall file documents, had climbed to 25 percent in 1999 after Caldor closed in the 1998-1999 time period. Two years later, in 2001, Montgomery Ward also closed adding to a feeling of ‘emptiness’ at the mall…

A March 19, 2003 article in the Baltimore Sun reported, “The mall has lost major tenants such as Montgomery Ward, Caldor and CVS Pharmacy within the past five years. It lost more than $20 million in value when Cranberry Properties MM Corp. purchased the 525,000- square-foot mall at Route 140 and Route 27 in April 2000 from Shopco Regional Malls for $33.5 million. Shopco (Shearson Shopco Malls Limited Partnership,) had bought the mall in 1988 for $53.8 million.

In the late summer of 2001, the city of Westminster was approached by mall’s representatives to discuss revitalizing the shopping facility. Part of the proposed revitalization required certain zoning changes.

The city of Westminster responded quickly. On November 27, 2001, the management company for the mall thanked the city “for unanimously approving text amendments (for the) TownMall of Westminster’s zoning regulations. Indeed, it is rare for a local government to respond in such a swift manner, which demonstrates the City’s collective vision for revitalizing (the) TownMall. As you know, these text amendments are vital to securing prospective tenants…”

The next spring, on May 9, 2002, it was announced that Boscov’s would take over the area vacated by Montgomery Wards. A May 10, 2002 Baltimore Sun article reported, “The Pennsylvania-based department store will tear down the existing structure and start from scratch, adding a second floor -- and the mall's first escalator -- to become the mall's premier retailer at 178,545 square feet… while creating at least 400 jobs. The mall has 54 tenants besides Boscov's…”

In comparison, the Sun noted, “Sears stands at 70,060 square feet and Belk (Leggett’s) at 65,282 square feet.” The March 19, 2003 Sun article noted that at 178,545 square feet, size of the new Boscov’s store is - almost a third of the mall.

The grand opening for Boscov’s was held on April 6, 2003.

In recent years, as the economy has faltered and retail marketing has been challenged, the worldwide management firm of Jones Lang LaSalle has been called upon to lead the TownMall into the next twenty-five years.

Adapting to constant change has been a persistent marketing necessity in recent years as consumer expectations have changed as quickly as market conditions and the weather.

At celebration ceremonies last Friday, Robyn J. Clark, the mall’s longstanding general manager observed, “Over the years, TownMall has gone through some changes.”

Now that was an understatement. Yet as a testimony to the approach of Ms. Clark, the mall’s leadership and management team, and Jones Lang LaSalle, “The mall currently has 85 merchants and 20 of them were here back in 1987… Zales, American Greetings, Belk, Boardwalk Fries, Claire’s, Deb Shop, Foot Locker, FYE, Gordon’s, Hair Cuttery, Littman’s, Payless Shoes, Piercing Pagoda, Radio Shack, Regal Cinema, Ritz Camera, Sterling Optical, Subway,  Things Remembered & Villa Pizza…”

In recent years, according to the mall’s website, “A 2006 interior and exterior renovation included a new inside color scheme, new mall entrances and in 2007 new pylon and exterior signage and in 2010 the addition of Dick's Sporting Goods.

“Anchored by a two-story Boscov's, Belk, and Sears, TownMall is also complemented by Regal Cinemas, a renovated food area and Dick's Sporting Goods.

“Key retailers at TownMall of Westminster include PacSun, Bath & Body Works, rue21, Christopher and Banks, New York & Company, F.Y.E., Journeys and The Children's Place.”

Today, the TownMall employs over 500 workers – in addition to providing a place for older senior citizens like Commissioner Shoemaker, to have a place to mall-walk, no matter what the weather is like outside.

When he is not hanging-out at the mall with Commissioner Shoemaker and listening to Led Zeppelin, Ozzie Osbourne, Lady Gaga, Taylor Swift, Kenny Chesney, and Carrie Underwood on his iPod, Kevin Dayhoff may be reached at kevindayhoff@gmail.com.

Kevin Dayhoff also spoke at the March 2, 2012 event. In full disclosure, Dayhoff served on several Carroll County development, agriculture and environmental committees during the 1970s, 80s, and 90s, when the TownMall was being developed – and as a Westminster Common Council member from 1999 – 2001 and the mayor of Westminster from 2001-2005.

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I’m a newspaper reporter. I’m pushy, inconsiderate and I do not respect boundaries.
Kevin Dayhoff is an artist - and a columnist for:

Twitter: https://twitter.com/kevindayhoffTwitpic: http://twitpic.com/photos/kevindayhoff
Kevin Dayhoff's The New Bedford Herald: http://kbetrue.livejournal.com/ = www.newbedfordherald.net

Tumblr: Kevin Dayhoff Banana Stems www.kevindayhoff.tumblr.com/
Smurfs: http://babylonfluckjudd.blogspot.com/
Google profile: https://profiles.google.com/kevindayhoff/

E-mail: kevindayhoff(at)gmail.com
My http://www.explorecarroll.com/ columns appear in the copy of the Baltimore Sunday Sun that is distributed in Carroll County: https://subscribe.baltsun.com/Circulation/
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Thursday, March 22, 2012

When Vampire Squids Become Cannibals – by Kevin Dayhoff – The Tentacle March 21, 2012

March 21, 2012



In case you missed it, last Wednesday Greg Smith, a Goldman Sachs executive, resigned. Actually it was really no big deal, except while he was on his way out the door, he burned his bridges and then strafed the wounded.

Mr. Smith publicly nuked Goldman Sachs in a scathing op-ed article in The New York Times that left many holding their hands up high and shouting “Alleluia.”

Last Wednesday began the same as many of the most recent monotonous mid-week editions of the end of winter blues as our nation’s wounded business and financial community continues to snort and bellow while it tries to extricate itself from an economic tar pit and in the process, try not to pee all over itself anymore than it already has.

The European sovereign debt crisis continues to languish in the markets like a bad hangover and economic public policy, especially unchecked profligate U.S. sovereign spending and debt, continue as troublesome issues. And where there is a financial cesspool, one can count on Goldman Sachs merrily swimming with the rest of the bottom-feeders and leaches.

So, as one may imagine, a headline like “Why I Am Leaving Goldman Sachs,” caught my eye.

Goldman Sachs, the venerable ginormous, intergalactic investment banking, financial services and securities firm has arguably found itself in the caustic crosshairs of public scrutiny more in the past several years than at any other time in its storied history that goes back to 1869… http://www.thetentacle.com/ShowArticle.cfm?mydocid=4986

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"Leadership used to be about ideas, setting an example and doing the right thing. Today, if you make enough money for the firm (and are not currently an ax murderer) you will be promoted into a position of influence." … http://www.huffingtonpost.com/wendell-potter/goldman-sachs-greg-smith_b_1362755.html?ref=politics&ir=Politics






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I’m a newspaper reporter. I’m pushy, inconsiderate and I do not respect boundaries.
Kevin Dayhoff is an artist - and a columnist for:

Twitter: https://twitter.com/kevindayhoffTwitpic: http://twitpic.com/photos/kevindayhoff
Kevin Dayhoff's The New Bedford Herald: http://kbetrue.livejournal.com/ = www.newbedfordherald.net

Tumblr: Kevin Dayhoff Banana Stems www.kevindayhoff.tumblr.com/
Smurfs: http://babylonfluckjudd.blogspot.com/
Google profile: https://profiles.google.com/kevindayhoff/

E-mail: kevindayhoff(at)gmail.com
My http://www.explorecarroll.com/ columns appear in the copy of the Baltimore Sunday Sun that is distributed in Carroll County: https://subscribe.baltsun.com/Circulation/
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Monday, March 19, 2012

GOP still headed for a cliff and other stories of the coming Zombie Apocalypse by Kevin Dayhoff

GOP still headed for a cliff and other stories of the coming Zombie Apocalypse by Kevin Dayhoff


I'm still hearing from folks, literally, from all over the world about, "The kerfuffle was no fluke." It must have struck a nerve.

So far in the presidential election of 2012 the only debate among historians is just which national election in history has the opposition party collectively conducted a more inept campaign to unseat a sitting president?

One of the places i wanted to go when I wrote "The kerfuffle was no fluke," was the 1860 presidential election. Fortunately, on March 16, 2012, TheTentacle writer, Roy Meachum picked-up that portion of the story: “Inevitable GOP Tuesday,” “As Tuesday pointed out, Republicans seem headed for the fate that led to Abraham Lincoln’s election, establishing the party on the American political scene.
In 1860, Democrats ruled the land. Nomination on their ticket was tantamount to a key to the White House. The great favorite was Stephen Douglas, who had defeated Mr. Lincoln for the U.S. Senate two years before. At their convention in Charleston, South Carolina, they went through 55 ballots before adjourning to Baltimore. Mr. Douglas was the winner of a divided party. The pro-slavery Democrats chose Vice President John Breckenridge, of Kentucky…” http://www.thetentacle.com/ShowArticle.cfm?mydocid=4978

[…]

The idea that the Republican Party is on a great march, en masse, off a cliff, is starting to be discussed in a hushed tone of voice that is only growing louder as November approaches.

Apparently I am not the only political observer to ponder such matters. Nor I am the only person to have the temerity to actually put it in print. Washington Post writer Chris Cillizza wrote at length last Monday, “2012: The Republican party’s Gotham election.”

[…]

“That idea — that the only way to truly rebuild something is for it first bottom out — is one that some within the Republican party have begun to toy with privately as the divisions between its tea party wing and the more establishment/moderate side of the party become more and more apparent.”

Although Mr. Cillizza illustrated it better; every time you hear a Republican say that they will not support a ‘R.I.N.O.’ candidate, please understand that paradoxically you are hearing the voice of a foot soldier for the Democrats in the costume of a Republican. I mean, let me get this straight, you would really rather endure another four more years of President Obama than support a moderate candidate for office.

I would not give a rat’s behind if Secretary of State Hillary Clinton changed parties and won the Republican nomination, the only criteria for the Republican nominee for the presidential election of November 2012 is that he or she have a chance at beating President Obama at the polls.

For pity sake, forget about all the hand wringing and Exorcist-gyrations about how the liberal media is in the tank for President Obama. We get it. Now get over it because there is not a darn thing you are going to do about it - - except message control and party discipline.

And speaking of that, please do not waste anyone’s time over whether or not the media treatment of Mr. Limbaugh utterly stupid attack on Ms. Fluke was fair or unfair.

Of course it is not fair to suggest that Mr. Limbaugh speaks for rank and file Republicans any more than it is fair to suggest that the crude and vulgar attacks on former Alaska Governor Sarah Palin by Bill Maher are representative of the run of the mill Democrats.

[…]

The only thing I regret about the piece is that I did not emphasize enough that the entire kerfuffle had nothing to do with the Democrat Party – President Barack Obama talking point, the "war on women." This issue, as Ron Miller said better than me, “is manufactured out of whole cloth by a Leftist messaging apparatus that is breathtaking in its coordination, its scope, and its chutzpah."

This more about the war for the women’s vote…

Nevertheless, I’ve written it before and I will repeat it now: at this point, President Barack Obama could kill a puppy on national TV and still win the election this coming November… http://www.thetentacle.com/ShowArticle.cfm?mydocid=4959

I stand in good company with columnist George Will and especially Peggy Noonan who recently observed, “… the Republican nominee will emerge so bloodied his victory will hardly be worth having; the Republicans are delving into areas so extreme and so off point that by the end Mr. Obama will look like the moderate.”

For other columns by Kevin Dayhoff:

March 14, 2012
Kevin E. Dayhoff
Weary taxpayers and consumers, who continue to be frustrated and exhausted by an uncertain future, the ongoing economic malaise, and a ‘new economic normal,’ are in the midst of perpetuating a sea change in how business is conducted in this country.

March 7, 2012
Kevin E. Dayhoff
Rush Limbaugh and conservatives could not have looked more like total and complete idiots in the recent national discussions over the private lives of individual Americans than if the liberal media and Democrats had written the script for this Kabuki circular firing squad.

February 29, 2012
Kevin E. Dayhoff
It was a warm day last Thursday as I took a left turn off Tuttle Avenue on to 12th Street in Sarasota (FL) and tried to remember how to get into the Baltimore Orioles spring training parking lot at Ed Smith Stadium.

February 22, 2012
Kevin E. Dayhoff
The first day of Baltimore Orioles’ spring training began Sunday when the pitchers and catchers reported for the annual ritual in Sarasota, Florida.

February 15, 2012
Kevin E. Dayhoff
There have been many tragedies of economic malaise in the last five years. Kodak’s recent filing for Chapter 11 bankruptcy seems especially sad; and it is only fitting that we pause for a moment to pay our respects.

February 8, 2012
Kevin E. Dayhoff
Now that the Super Bowl is over there may be no better time to focus some attention on the continuing Greek tragedy that is unfolding over in the economic Twilight Zone, known as the Eurozone.

February 1, 2012
Kevin E. Dayhoff
Legislation to address how Maryland estate taxes inhibit farmers from passing-down the family farm to succeeding generations has gained some much-needed interest in the current session of the Maryland General Assembly.

January 25, 2012
Kevin E. Dayhoff
Maryland Gov. Martin O’Malley’s fiscal year 2013 state budget, released a week ago, is a full menu of difficult choices. However, one of the most troubling is the lack of funding for police protection and highway user revenue for municipalities.

January 18, 2012
Kevin E. Dayhoff
The consensus continues to gather steam that the GOP nomination to challenge President Barack Obama for president this fall will be former Massachusetts Gov. Mitt Romney. Perhaps all the drama now moves to who will be his choice for vice president.

January 11, 2012
Kevin E. Dayhoff
It is fairly well accepted among keen observers of national politics that the Iowa caucuses of Tuesday a week ago are much more about political and media-theater than a prognosticator of who will vie for the Oval Office this fall.

January 4, 2012
Kevin E. Dayhoff
Next Wednesday, on January 11, the 430th taxing tradition of the Maryland General Assembly opera will once again take center stage.

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20120319 KED seo GOP still headed for a cliff

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I’m a newspaper reporter. I’m pushy, inconsiderate and I do not respect boundaries.
Kevin Dayhoff is an artist - and a columnist for:

Twitter: https://twitter.com/kevindayhoffTwitpic: http://twitpic.com/photos/kevindayhoff
Kevin Dayhoff's The New Bedford Herald: http://kbetrue.livejournal.com/ = www.newbedfordherald.net

Tumblr: Kevin Dayhoff Banana Stems www.kevindayhoff.tumblr.com/
Smurfs: http://babylonfluckjudd.blogspot.com/
Google profile: https://profiles.google.com/kevindayhoff/

E-mail: kevindayhoff(at)gmail.com
My http://www.explorecarroll.com/ columns appear in the copy of the Baltimore Sunday Sun that is distributed in Carroll County: https://subscribe.baltsun.com/Circulation/
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Saturday, March 17, 2012

New York Times Greg Smith: Why I Am Leaving Goldman Sachs

New York Times Greg Smith: Why I Am Leaving Goldman Sachs


OP-ED CONTRIBUTOR

Why I Am Leaving Goldman Sachs

By GREG SMITH

March 14, 2012

TODAY is my last day at Goldman Sachs. After almost 12 years at the firm — first as a summer intern while at Stanford, then in New York for 10 years, and now in London — I believe I have worked here long enough to understand the trajectory of its culture, its people and its identity. And I can honestly say that the environment now is as toxic and destructive as I have ever seen it.



To put the problem in the simplest terms, the interests of the client continue to be sidelined in the way the firm operates and thinks about making money. Goldman Sachs is one of the world’s largest and most important investment banks and it is too integral to global finance to continue to act this way. The firm has veered so far from the place I joined right out of college that I can no longer in good conscience say that I identify with what it stands for… http://www.nytimes.com/2012/03/14/opinion/why-i-am-leaving-goldman-sachs.html?_r=1&pagewanted=all&src=ISMR_AP_LO_MST_FB

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"Leadership used to be about ideas, setting an example and doing the right thing. Today, if you make enough money for the firm (and are not currently an ax murderer) you will be promoted into a position of influence." …http://www.huffingtonpost.com/wendell-potter/goldman-sachs-greg-smith_b_1362755.html?ref=politics&ir=Politics







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I’m a newspaper reporter. I’m pushy, inconsiderate and I do not respect boundaries.
Kevin Dayhoff is an artist - and a columnist for:

Twitter: https://twitter.com/kevindayhoffTwitpic: http://twitpic.com/photos/kevindayhoff
Kevin Dayhoff's The New Bedford Herald: http://kbetrue.livejournal.com/ = www.newbedfordherald.net

Tumblr: Kevin Dayhoff Banana Stems www.kevindayhoff.tumblr.com/
Smurfs: http://babylonfluckjudd.blogspot.com/
Google profile: https://profiles.google.com/kevindayhoff/

E-mail: kevindayhoff(at)gmail.com
My http://www.explorecarroll.com/ columns appear in the copy of the Baltimore Sunday Sun that is distributed in Carroll County: https://subscribe.baltsun.com/Circulation/
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Thursday, February 9, 2012

European Central Bank in a fix over Greek debt by Joseph Stiglitz


This article ties-in neatly with The Economist: Argentina’s debt default Gauchos and gadflies http://kevindayhoff.blogspot.com/2012/02/economist-argentinas-debt-default.html I’ve read it several times and gain more insights every time I read it…

Creditors’ decade-long battle with Argentina shows just how tangled sovereign defaults can be Oct 22nd 2011 NEW YORK http://www.economist.com/node/21533453


AS GREECE flirts with disaster and several other European countries buckle under heavy debts, creditors’ experience with Argentina should serve as a sobering reminder about the mess that can follow a sovereign default. A decade after the Latin American country welshed on $81 billion, disgruntled creditors are still chasing their money. The litigation, and Argentina’s defiance in the face of judgments against it, complicate its plans to return to international capital markets.

Argentina’s default, after a severe economic crisis, sparked social unrest and runs on banks. It subsequently presented creditors with a take-it-or-leave-it offer of 35 cents on the dollar. They considered this derisory: previously, delinquent countries had typically paid 50-60 cents. But the government stood firm and roughly three-quarters of the bondholders took part in a debt exchange in 2005. More joined in 2010, bringing the total to 93%... http://www.economist.com/node/21533453





The ECB may be putting the interests of the few banks that have written credit-default swaps before those of Greece, Europe's taxpayers, and creditors


Nothing illustrates better the political crosscurrents, special interests, and shortsighted economics now at play in Europe than the debate over the restructuring of Greece's sovereign debt. Germany insists on a deep restructuring – at least a 50% "haircut" for bondholders – whereas the European Central Bank insists that any debt restructuring must be voluntary.

In the old days – think of the 1980s Latin American debt crisis – one could get creditors, mostly large banks, in a small room, and hammer out a deal, aided by some cajoling, or even arm-twisting, by governments and regulators eager for things to go smoothly. But, with the advent of debt securitisation, creditors have become far more numerous, and include hedge funds and other investors over whom regulators and governments have little sway.

Moreover, "innovation" in financial markets has made it possible for securities owners to be insured, meaning that they have a seat at the table, but no "skin in the game". They do have interests: they want to collect on their insurance, and that means that the restructuring must be a "credit event" – tantamount to a default. The ECB's insistence on "voluntary" restructuring – that is, avoidance of a credit event – has placed the two sides at loggerheads. The irony is that the regulators have allowed the creation of this dysfunctional system… http://www.guardian.co.uk/business/economics-blog/2012/feb/06/european-central-bank-greek-debt

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Now that the Super Bowl is over there may be no better time to focus some attention on the continuing Greek tragedy that is unfolding over in the economic Twilight Zone, known as the Eurozone.

There is a growing sense that Americans, somewhat exhausted after a decade of foreign wars and international conflict, have grown increasingly isolationist in their worldview.

That may be a good thing to a certain extent. The United States cannot continue to pay the price of maintaining the planet’s police force.

While other nations concentrate that portion of its gross national product to strengthening its industrial base, quality of life and economy – think Germany – that would otherwise go to defense spending if it were not for the United States, our nation continues to wallow in an economic tar pit.

Just when our nation’s economy cheers up a bit, things threaten to get worse quickly.

As we head for the seclusion of the isolationist, padded panic room, it might be a good idea to take a look over our shoulder and keep an eye on Greece – and Portugal, Ireland, Spain and Italy… http://www.thetentacle.com/ShowArticle.cfm?mydocid=4907

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I’ve read it several times and gain more insights every time I read it…

Creditors’ decade-long battle with Argentina shows just how tangled sovereign defaults can be Oct 22nd 2011 NEW YORK http://www.economist.com/node/21533453

AS GREECE flirts with disaster and several other European countries buckle under heavy debts, creditors’ experience with Argentina should serve as a sobering reminder about the mess that can follow a sovereign default. A decade after the Latin American country welshed on $81 billion, disgruntled creditors are still chasing their money. The litigation, and Argentina’s defiance in the face of judgments against it, complicate its plans to return to international capital markets.

Argentina’s default, after a severe economic crisis, sparked social unrest and runs on banks. It subsequently presented creditors with a take-it-or-leave-it offer of 35 cents on the dollar. They considered this derisory: previously, delinquent countries had typically paid 50-60 cents. But the government stood firm and roughly three-quarters of the bondholders took part in a debt exchange in 2005. More joined in 2010, bringing the total to 93%... http://www.economist.com/node/21533453




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I’m a newspaper reporter. I’m pushy, inconsiderate and I do not respect boundaries.
Kevin Dayhoff is an artist - and a columnist for:

Twitter: https://twitter.com/kevindayhoffTwitpic: http://twitpic.com/photos/kevindayhoff
Kevin Dayhoff's The New Bedford Herald: http://kbetrue.livejournal.com/ = www.newbedfordherald.net

Tumblr: Kevin Dayhoff Banana Stems www.kevindayhoff.tumblr.com/
Smurfs: http://babylonfluckjudd.blogspot.com/
Google profile: https://profiles.google.com/kevindayhoff/

E-mail: kevindayhoff(at)gmail.com
My http://www.explorecarroll.com/ columns appear in the copy of the Baltimore Sunday Sun that is distributed in Carroll County: https://subscribe.baltsun.com/Circulation/
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Eurozone Crisis: It is all Greek to me! by Kevin E. Dayhoff February 8,



Now that the Super Bowl is over there may be no better time to focus some attention on the continuing Greek tragedy that is unfolding over in the economic Twilight Zone, known as the Eurozone.

There is a growing sense that Americans, somewhat exhausted after a decade of foreign wars and international conflict, have grown increasingly isolationist in their worldview.

That may be a good thing to a certain extent. The United States cannot continue to pay the price of maintaining the planet’s police force.

While other nations concentrate that portion of its gross national product to strengthening its industrial base, quality of life and economy – think Germany – that would otherwise go to defense spending if it were not for the United States, our nation continues to wallow in an economic tar pit.

Just when our nation’s economy cheers up a bit, things threaten to get worse quickly.

As we head for the seclusion of the isolationist, padded panic room, it might be a good idea to take a look over our shoulder and keep an eye on Greece – and Portugal, Ireland, Spain and Italy… http://www.thetentacle.com/ShowArticle.cfm?mydocid=4907

[20120208 seo TT Eurozone Crisis It is all Greek to me]

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February 8, 2012
Kevin E. Dayhoff
Now that the Super Bowl is over there may be no better time to focus some attention on the continuing Greek tragedy that is unfolding over in the economic Twilight Zone, known as the Eurozone.

February 1, 2012
Kevin E. Dayhoff
Legislation to address how Maryland estate taxes inhibit farmers from passing-down the family farm to succeeding generations has gained some much-needed interest in the current session of the Maryland General Assembly.

January 25, 2012
Kevin E. Dayhoff
Maryland Gov. Martin O’Malley’s fiscal year 2013 state budget, released a week ago, is a full menu of difficult choices. However, one of the most troubling is the lack of funding for police protection and highway user revenue for municipalities.

January 18, 2012
Kevin E. Dayhoff
The consensus continues to gather steam that the GOP nomination to challenge President Barack Obama for president this fall will be former Massachusetts Gov. Mitt Romney. Perhaps all the drama now moves to who will be his choice for vice president.

January 11, 2012
Kevin E. Dayhoff
It is fairly well accepted among keen observers of national politics that the Iowa caucuses of Tuesday a week ago are much more about political and media-theater than a prognosticator of who will vie for the Oval Office this fall.

January 4, 2012
Kevin E. Dayhoff
Next Wednesday, on January 11, the 430th taxing tradition of the Maryland General Assembly opera will once again take center stage.

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I’m a newspaper reporter. I’m pushy, inconsiderate and I do not respect boundaries.
Kevin Dayhoff is an artist - and a columnist for:

Twitter: https://twitter.com/kevindayhoffTwitpic: http://twitpic.com/photos/kevindayhoff
Kevin Dayhoff's The New Bedford Herald: http://kbetrue.livejournal.com/ = www.newbedfordherald.net

Tumblr: Kevin Dayhoff Banana Stems www.kevindayhoff.tumblr.com/
Smurfs: http://babylonfluckjudd.blogspot.com/
Google profile: https://profiles.google.com/kevindayhoff/

E-mail: kevindayhoff(at)gmail.com
My http://www.explorecarroll.com/ columns appear in the copy of the Baltimore Sunday Sun that is distributed in Carroll County: https://subscribe.baltsun.com/Circulation/
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