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  • Foolish Absolute Liberal Kathleen

    January 19, 2012
    Wisconsin politics

    Apparently everyone who didn’t vote for Republican gubernatorial candidate Scott Walker in 2010 (minus the hundreds of thousands of fraudulent signatures, of course) signed a petition to recall Walker.

    Then, on Wednesday, Kathleen Falk, former Dane County executive and twice-failed statewide candidate, announced she is running against Walker, assuming the number of fraudulent signatures doesn’t invalidate the recall drive.

    As far as I’m concerned, Falk is a perfect candidate. Perfect, that is, to symbolize the stupidity of Recallarama, and to symbolize the theme of Madison vs. the rest of Wisconsin.

    Falk — or as exiled Madison conservative blogger David Blaska calls her, The Kathleen — was the Dane County executive for 14 years, after she was the state’s public intervenor, a former state Justice Department position designed as an intentional environnment-motivated bottleneck. (One of Gov. Tommy Thompson’s greatest accomplishments was the elimination of the public intervenor position.)

    Falk has one thing in common with another supposed recall candidate, Milwaukee Mayor Tom Barrett. Both are two-time statewide election losers. Falk and Barrett both lost in the 2002 Democratic gubernatorial primary, then, four years later, after beating Attorney General Peg Lautenschlager in the Democratic primary due to the latter’s drunk driving conviction, in what was a very good year for Democrats, Falk nonetheless lost the general election to then-unknown Republican J.B. Van Hollen.

    Falk started her political career as an environmental lawyer. The irony is that Falk undoubtedly will tout her economic development credentials, which in a county that includes state government and the state’s largest university is like opening a faucet and announcing that you’ve discovered water. Moreover, a drive through Dane County (which I do every few months,  most recently in December) shows a considerable amount of what the envirofreaks (which Falk used to represent) would call “sprawl.”

    You should probably ask current and former Dane County supervisors from districts outside greater Madison what they think of her work. That is important because Wisconsin is still a mostly rural state. One wonders what kind of limits on growth in non-urban areas a Governor Falk would support. Falk supported the $800 million waste of taxpayer money that would have been the Madison-to-Milwaukee not-really-high-speed train, a train most Wisconsinites would not have used but all would have been required to pay for.

    In doing research for my most recent anti-Madison blog, I came upon a University of Wisconsin master’s-degree thesis, Growth Machine Theory and Urban Political Decline: A Case Study and Empirical Review: The Madison South Beltline Highway, Madison, Wisconsin. (Only academics and would-be academics write 20-word titles that include two colons, by the way.) The thesis, available online from the UW Memorial Library, shows the opposition of the state Public Intervenor — Falk and her predecessor — on specious grounds that building a new South Beltline south of Monona’s East Broadway could lead to less consumer spending in downtown Madison and Madison population loss. So all the people killed and maimed on car crashes before the new South Beltline opened in 1988, well, ask The Kathleen about them. So should those who were victims of two-lane U.S. 12 between Middleton and Sauk City, whose upgrade Falk opposed.

    Whatever hired flack wrote Falk’s Wikipedia page, which was updated Tuesday, notes her “balanced budgets and capped property tax levies,” which only means Falk did what she was required to do under state law. Falk also substantially increased Dane County government spending and employment, which serves as a nice preview for what she would do as governor. Some of that spending included using tax dollars to purchase wetlands to prevent development, including a parcel between Lake Waubesa and Upper Mud Lake that was under water. (Really.)

    There’s also the laughable part about Falk’s being a “tough but fair negotiator” with Dane County’s unions. That sentence demonstrates the grotesque faults of government employment in Wisconsin — that (1) public employee unions exist and (2) negotiations take place instead of employees’ being given the choice of taking the offered salaries and benefits, or working elsewhere.  The fact that government unions will all endorse Falk also proves that state employee unions will get more than everything they could ever wish for should a majority of Wisconsin voters lose their minds and vote for Falk.

    Since the Wisconsin Democratic Party is not being run by adults, as demonstrated every time party chair Mike Tate and mouthpiece Graeme Zielinski open their mouths, it’s probably a waste of my typing to suggest that Wisconsin Democrats need to find candidates for statewide office who do not reflexively support every idiotic idea that comes from Madison or Milwaukee at the expense of the rest of the state. On the other hand, maybe such non-Axis Democrats as Sens.  Dave Hansen (D–Green Bay), Robert Jauch (D–Poplar), Jessica King (D–Oshkosh) and Jennifer Shilling (D–La Crosse) and Reps. Penny Bernard Schaber (D–Appleton), Janet Bewley (D–Ashland), Jill Billings (D–La Crosse), Chris Danou (D–Trempealeau), Gordon Hintz (D–Oshkosh), Nick Milroy (D–South Range) and Donna Seibel (D–Wausau) are perfectly happy having their constituents dictated to by the People’s Republic of Madison on such issues as land use, hunting and their Second Amendment rights.

    The gubernatorial recall has always been about who is in charge in Wisconsin — government employees or taxpayers. The state should be run for the benefit of the 85 percent of workers who do not work for government whose taxes pay for those who do. Vote for Falk, and the state will once again be run by the public employee unions.

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  • ________, the presidential candidate

    January 19, 2012
    US politics

    National Review’s Jim Geraghty wrote this interesting piece Wednesday:

    How dissatisfied are Republicans with the current field of presidential candidates?

    Sufficiently dissatisfied to flirt with a long-shot effort to draft Louisiana governor Bobby Jindal, Virginia governor Bob McDonnell, or Wisconsin congressman Paul Ryan into the presidential race, despite the trio’s repeated statements that they’re not interested in running for the office.

    The write-in effort would have paralleled something that happened in 1964 that was news to me until now — a successful write-in bid in the 1964 New Hampshire Republican presidential primary election. A group that was not happy with U.S. Sen. Barry Goldwater (R–Arizona) or Gov. Nelson Rockefeller (RINO–New York) wrote in former U.S.  Sen. Henry Cabot Lodge  Jr. (R–Massachusetts), who had been Richard Nixon’s running mate four years earlier. Lodge won with 36 percent of the vote, though he obviously lost the nomination to Goldwater. Says Geraghty:

    But to a couple of Republican consultants yearning for better, more unifying options than the current crop of candidates, the Lodge example offered a blueprint for a late entrant. The low expectations for a write-in bid added to the appeal of the plan; if the write-in bid finished with only a few percentage points, no harm was done. But a third- or second-place finish would generate enormous discussion.

    Presuming the write-in candidate had finished respectably, he (or she) would still have time to qualify for the ballot in Rhode Island (January 21), West Virginia (January 28), Kentucky (January 31), Indiana (February 10), Pennsylvania (February 14), Delaware (February 24), Arkansas (March 1), Connecticut (March 2), Oregon (March 6), Nebraska (March 7), Montana (March 12), Utah (March 15), California (March 23), and South Dakota (March 27).

    The primary states still open to new candidates offer up to 623 delegates, and the caucus states still open to new candidates offer up to 371 delegates. That adds up to 994 delegates, which is less than the 1,144 delegates needed to win the nomination. However, a strong performance in the remaining states would greatly enhance the likelihood of no candidate reaching the threshold. And that means, in short, a divided, dramatic, and probably very confusing run-up to the convention. …

    The write-in bid was discussed among several prominent Republican officeholders and former officeholders, and the reaction was mixed. Few rejected the idea outright or claimed complete satisfaction with the current options in the GOP field, but even fewer wanted their names attached to a strange, late, high-risk effort that would most likely serve only to irk the eventual GOP nominee and perhaps the next president.

    The consultants said the aim was not merely to create mischief, but to create “constructive mischief.”

    The plan was to float all three popular non-candidates as options and see if Republicans coalesced behind any of them; if one of the three proved particularly popular, unaffiliated Republicans would begin mentioning the write-in option in the days before the primary.

    The first thought is that this would make a great plot for a political novel (note to self: Check schedule for next week), unlikely as it was to happen. It also is, to quote Geraghty, “a warning sign to the front runner of just how much more work he needs to do to quell fears among Republicans that he is the best choice to lead America beginning on Jan. 20, 2013.”

    It also demonstrates, whether you support Mitt Romney or not, the imperative that goes beyond the presidential election. Compare the middle four years of George W. Bush’s presidency, when the Republicans controlled both houses of Congress, to Bush’s last two years, with Democrats controlling all of Congress. Compare the first two years of Bill Clinton’s presidency, when the Democrats controlled both houses of Congress, to Clinton’s last six years, when Republicans controlled Congress.

    Because I’m a pessimist, I assume Obama is going to win reelection. It is therefore imperative that Obama be stopped from enacting his more stupid and dangerous ideas, which will not happen unless Republicans control at least the House of Representatives and preferably the Senate as well. As a worst-case scenario, four more years of gridlock beats the alternative.

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  • Presty the DJ for Jan. 19

    January 19, 2012
    Music

    The number one single today in 1959:

    The number one British single today in 1967:

    Today in 1971, selections from the Beatles’ White Album were played in the courtroom at the Sharon Tate murder trial to answer the question of whether any songs could have inspired Charles Manson and his “family” to commit murder.

    Manson was sentenced to death, but his sentence was commuted to life imprisonment when the U.S. Supreme Court outlawed the death penalty.

    The number one British single today in 1980:

    The number one British album today in 1980 was Pink Floyd’s “The Wall”:

    The number one single today in 1991:

    Birthdays begin with Phil Everly, half of the Everly Brothers:

    Janis Joplin:

    Rod Evans of Deep Purple:

    Harvey Hinsley of Hot Chocolate:

    Robert Palmer:

    Dewey Bunnell of America:

    Mickey Virtue played keyboards for UB40:

    Four deaths of note today: Carl Perkins in 1998 …

    … Wilson Pickett in 2006 …

    … Denny Doherty of the Mamas and the Papas in 2007 …

    … and John Stewart in 2008:

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  • Stop SOPA and PIPA

    January 18, 2012
    US politics

    Julie Borowski of FreedomWorks:

    The Internet is a prime example of what Nobel Prize-winning economist F.A. Hayek called spontaneous order. One single institution does not control the Internet. This is primarily what makes the Internet so great. Billions of individuals all over the world are free to spread unrestricted information on the Internet. I actually became a libertarian largely because I was exposed to ideas that I never heard before on the free Internet. Can you imagine how terrible the Internet would be if it was centrally planned by the government? A centralized institution cannot possibly know or satisfy the unique wants of billions of individuals across the globe.

    Despite the lack of centralized control, the Internet exhibits a high degree of order. As the Taoist Chuang-tzu said, “good order results spontaneously when things are let alone”. Self-policing has worked to a certain degree to keep harmful content off the Internet. As it currently stands, there are no government mandates requiring search engines to remove information. Many websites already voluntarily remove information deemed inappropriate. For instance, Google routinely screens out child pornography from its search results. Facebook and Twitter encourages users to flag malicious content that violates their terms of service. While self-regulation may not be perfect, it is much preferable to government regulation.

    The House version SOPA and Senate version PIPA would grant the federal government unprecedented control over the Internet. Both bills would give the federal government the power to shut down literally millions of websites. SOPA, the most dangerous version of the two, contains vague language permitting the government to shut down any website that is found to “engage in, enable or facilitate” copyright infringement. …

    SOPA and PIPA threatens our free speech. These bills forcibly require search engines and other third parties to remove links to rogue websites. This is a clear violation of our constitutional right to free speech as well as a burdensome regulation that will destroy jobs. …

    SOPA and PIPA would undermine the free flow of information on the Internet. This could be a dangerous slippery slope in which the federal government seeks more and more control over the Internet. The Egyptian and Chinese governments have actually shut down citizen access to the Internet over the past few years. Every authoritarian government ultimately desires to have complete control of information and communication technologies.

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  • You shall be known by the company you signed to support

    January 18, 2012
    Wisconsin politics

    Tim Nerenz reveals the people those who signed Scott Walker recall petitions are supporting, whether they admit it or not:

    And kudos once again to opponents of Wisconsin Governor Scott Walker who celebrated their Dr. Martin Luther King Day holiday yesterday by hissing and chanting at the Governor during a solemn proclamation honoring Dr. King at the State Capitol in Madison.

    In doing so, the Democrats notched yet another important victory for loutish self-absorption over common decency in the continuing battle for the hearts and minds of independent voters in the Badger State.

    The highlights of their perfect season, undefeated by couth, includes shouting down the Pledge of Allegiance, booing the National Anthem, disrupting a ceremony honoring Special Olympians, and hassling returning troops, just to name a few.  Their behavior in our Capitol rotunda would get them thrown out of Walmart.

    Forget Scott Walker; you guys should recall your mom.

    Or whoever it was that raised you to believe it was ok to interrupt ceremonies, hurl vulgarities at 14-year-old girls, disenfranchise cloistered nuns, bribe children with cigarettes to sign recall petitions, stalk the families of public officials, throw beer or coffee on opponents, make death threats, and try to shut down dissenting media outlets.  …

    I can understand why Democrats and unionists might not think disrupting an MLK commemoration is any big deal; after all, Dr. King had to fight Democrats to get black people their right to vote, and he had to fight unions to integrate the workforce.  It is unlikely that the union/government schools tell students who was the party of the KKK and separate-but-equal back in the day.

    So what if Dr. King gave his life?  That is nothing compared to having to pay 12% of a health insurance premium, right?  And how can we equate something trivial like institutionalized segregation with something really awful, like allowing school boards to compete those WEA trust insurance contracts now that the scam is blown?  …

    We are about to waste $9 million of our hard-earned money to give our Democrats another mulligan, money that will not be available for education, the elderly, the environment, cancer research, bridge repairs, or bike paths.  Or, God forbid, tax relief for working people who can hardly make ends meet, thanks in part to one of the highest tax burdens in the country.

    Two-thirds of that recall money will be paid by Republicans and Independents, both of whom overwhelmingly approve of the job Governor Walker is doing – the job he was elected fair and square to do. 

    It will come out of township budgets across the state, townships run by common-sense people from both Parties who would prioritize snow removal over an unbudgeted election if it were up to them – and us.  If it were up to us, we would have the election to recall Scott Walker in November of 2014, when it was originally scheduled.

    But it’s not up to us. It’s up to people whose moms did not teach them to wait their turn.  It is up to union bosses from out East, together with the Madison liberals who think everyone’s money istheir money, the Chicago urban vote factory which views Milwaukee as a colony, and out of state students who will leave us after graduation, taking with them the benefit of one of the best educations taxpayer subsidies can buy.

    Many of those students putting their idealism and energy behind the Walker Recall will relocate to the low-tax, Right-To-Work, concealed carry, energy-friendly, business-friendly states where there is opportunity.  I wish they would use that enthusiasm to help Governor Walker and his successors turn Wisconsin into one of those states, so they could find opportunities here.

    Gemma Carroll provides visual evidence of Nerenz’s points:

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  • Presty the DJ for Jan. 18

    January 18, 2012
    Music

    The number one single today in 1960 was written by a one-hit wonder and sung by a different one-hit wonder:

    The number 45 45 today in 1964 was this group’s first, but not last:

    Today in 1974, members of Free, Mott the Hoople and King Crimson formed Bad Company:

    A Wisconsin moment today in rock history: Today in 1981, Wendy O. Williams of the Plasmatics was arrested on stage at the Palms Nightclub in Milwaukee on a charge of “conduct prohibited in a licensed premise” and resisting arrest. The charge: Simulating sex with a sledgehammer during the Plasmatics’ performance.

    Williams was acquitted of the charge, but she lost her $6 million lawsuit against the city.

    Today in 1989, Stevie Wonder, then 39, became the youngest living person to be inducted into the Rock and Roll Hall of Fame. (It helps when you start your career at 12.)

    Today in 1991, three fans were crushed to death during an AC/DC concert in Salt Lake City.

    Birthdays begin with David Ruffin of the Temptations:

    Bob Rosenberg of Will to Power:

    Tom Bailey was one of the Thompson Twins (which was an unrelated trio):

    Luther Dickinson played guitar for the Black Crowes:

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  • A couple ice cubes short of an Old Fashioned

    January 17, 2012
    Culture, US politics

    Psychiatrist Keith Ablow, member of the Fox News Medical A-Team:

    According to the Centers for Disease Control, we’re becoming a nation of drunks. Booze hounds on benders.

    New data reveals that one in every six Americans downs eight mixed drinks within a few hours, four times a month. Twenty-eight percent of young people between the ages of 18 and 24 binge-drink five times a month, putting away seven drinks in one sitting. And 13 percent of those between the ages of 45 and 65 binge drink five times a month, too.

    News of the magnitude of this intoxication—resulting in frequently and dramatically altered states of consciousness for tens of millions of Americans—is no different than if we were to learn that a quarter of our young people were snorting half-a-gram of cocaine more than once-a-week or injecting heroin on that schedule. The psychological/cognitive effects of seven or eight drinks are no less intense, and, possibly, even more dramatic.

    Think about that: A significant portion of our population wants to not be present for significant portions of every single week.

    Well, think about this: The federal government mandated through threats to withhold transportation aid that states adopt the 21-year-old drinking age in the mid-1980s. The federal government last decade mandated through threats to withhold transportation aid that states reduce the legal level of drunk driving from 0.10 to 0.08. And yet, according to Ablow, “tens of millions of Americans” continue to seek “dramatically altered states of consciousness” through their favorite adult beverage(s). Federal efforts to reduce drinking appear to have been as successful as Prohibition.

    And yet, as a fan of adult beverages (but you knew that), I’m skeptical. The three-martini lunch — forget that, the one-martini lunch — is something you see only on “Mad Men.” A lot of people go overboard once (or before) they reach legal drinking age, but when they mature they drink responsibly. Last decade we had a president who didn’t drink, and depending on the November results we might have another. (Mormons don’t drink, for those who didn’t know that.) I suspect post-college adults know more people who don’t drink at all than drink at Ablow’s specified binge level.

    What Ablow says next is more interesting:

    My theory is that Americans are on a flight from reality. Faced with painful facts—including the precarious state of the economy, the gathering storm represented by militant Muslims, in general, and Iran, in particular, the crumbling state of marriage in this country, the fact that our borders are being overrun, and the fact that our health care insurance system is in shambles (to name just a smattering of the troubles we desperately need to address)—we as a nation are drinking, drugging, gambling, smoking, Facebooking, YouTubing, Marijuaning, Kardashianing, Adderalling, Bono-ing (as in thinking of Chaz’s sad flight from reality as good), Prozacking, Twittering, and Sexting ourselves into oblivion. …

    See, when you drug yourself five or ten percent of your life, that experience (or rather non-experience) can contaminate the rest of your life, too. Because suppressing your truth—including your anxiety and your resolve—for one day in 7 days is enough to tip the balance of your thinking away from introspection, away from insight and away from real involvement with others and the world around you. …

    More laws could never solve this problem, by the way. A new Prohibition wouldn’t stem the tide of the clear desire of a significant percentage of Americans to anesthetize themselves a significant portion of their lives. The only antidote is the decisiveness of individuals to live their lives, to be present and to count—for real.

    “To live their lives, to be present and to count — for real” involves focusing on the right things, by the way. (As opposed to the dominant culture in my hometown. Or, for that matter, Ablow‘s Facebook obsession with Casey Anthony.) “Think globally, act locally” is half-sound advice and half-silly. I hate to break this news to you, but you have no influence over “militant Muslims,” Iran, our borders (supposedly) being overrun, or,  for that matter, global climate change. The world will not end if a majority of American voters compound their 2008 mistake and vote again for Barack Obama. You do, however, have the ability to influence what you do — your own life, and the people in your world. We’d all be better off if we focused on fixing our own lives instead of others’ lives.

    Another thought Ablow might not want me to point out is that resorting to “experts” such as Ablow’s Life Coaches or Medical A-Team may actually make things worse. Someone with more knowledge than you is not necessarily smarter or wiser than you. (My late grandmother and father-in-law, each of whom stopped school after eighth grade, had more sense than people I’ve known with educational suffixes after their names.) Today’s popular culture appears more inclined to run to Oprah, “The View,” “The Talk,” “The Doctors,” “Dr. Phil,” “Dr. Drew” or anything involving the word “buzz” instead of using all those brain cells God gave us. Teachers, however, make their students work out things for themselves instead of telling them the answer, for a reason.

    Of course, I don’t know any of the aforementioned paragraph personally. I don’t participate in the freak show that is reality TV, and the TV is off in the daytime. I do not know all the answers (or even some of the questions), but when I need advice, I know to not get it from TV.

     

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  • You shall be known by the company you keep

    January 17, 2012
    media, US politics, Wisconsin politics

    Christian Schneider on with whom Sens. Jessica King (D–Oshkosh) and Tim Cullen (D–Janesville), supposed gubernatorial recall candidate, are hanging around these days:

    If the recent controversy over collective bargaining in Wisconsin has done anything, it has lifted up a rock to expose how many cretins manage to slither below the surface of legitimate political dialogue. …

    Then there’s liberal hero Ian Murphy, who impersonated billionaire David Koch while making a now-famous prank phone call to Gov. Scott Walker. Murphy, a blogger, was immediately lionized by union loyalists for supposedly “exposing” Walker’s ties to the Koch Brothers (whom Walker claims he has never met). …

    On Tuesday, the 540,000 signatures needed to force a recall election of Governor Walker are due; and in advance of this momentous occasion, Democrats have sent Murphy on a barnstorming tour to drum up support for the recall. Local newspapers have photographed Murphy chumming it up with incumbent state senators, many of whom fled the state last February in order to block a vote on the collective-bargaining bill. Flyers offer attendees the chance to “meet special guest Ian Murphy of the Daily Beast, famous for his ‘Fake David Koch’ phone call.”

    But that isn’t the only thing that has brought fame to Ian Murphy. In May 2008, he wrote a vile column titled “F*** the Troops,” in which he ridiculed the notion that we should honor those fighting for our country. Among Murphy’s “greatest” hits (warning: profane language):

    ● “So, 4000 rubes are dead. Cry me the Tigris. Another 30,000 have been seriously wounded. Boo f***ing hoo. They got what they asked for — and cool robotic limbs, too.”

    ● “The benevolence of America’s ‘troops’ is sacrosanct. Questioning their rectitude simply isn’t done. It’s the forbidden zone. We may rail against this tragic war, but our soldiers are lauded by all as saints. Why? They volunteered to partake in this savage idiocy, and for this they deserve our utmost respect? I think not.”

    ● “The nearly two-thirds of us who know this war is bullshit need to stop s***ing off the troops. They get enough action raping female soldiers and sodomizing Iraqi detainees.”

    ● “As a society, we need to discard our blind deference to military service. There’s nothing admirable about volunteering to murder people. There’s nothing admirable about being rooked by obvious propaganda. There’s nothing admirable about doing what you’re told if what you’re told to do is terrible.”

    ● On John McCain: “Again, what is heroic about involving one’s self in a foolish war, being a sh***y pilot or getting tortured? Yeah, it must have sucked, but getting your ass kicked every day for five years doesn’t make you a hero—it makes you a Bad News Bear.”

    ● “But what kind of world would we rather live in: one where fools are admired for being fooled and murderers are extolled for murdering, or one where we have the capacity to step back and say, ‘I don’t care who told you to do what and why; you’re still an asshole!’ Personally, I’d rather live in a world where people who act like retards are treated like retards: executed in Texas.”

    And on and on it goes.

    Of course, anyone who is familiar with politics sees these reptiles trolling around on message boards and on Twitter. But Ian Murphy is now headlining legitimate events thrown by legitimate Democrats, none of whom will even acknowledge his puerile radicalism. (Very little, if any, of Murphy’s past has been reported in the state media, save for Milwaukee-area conservative talk radio.)

    Miss Wisconsin won the Miss America pageant on Saturday night. She clearly represents the pretty side of the state. But Ian Murphy has given everyone a glimpse of how ugly it can be, too.

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  • Presty the DJ for Jan. 17

    January 17, 2012
    Music

    The number one album today in 1976 was Earth Wind & Fire’s “Gratitude” …

    The number one British album today in 1999 was Fatboy Slim’s “You’ve Come a Long Way Baby”:

    The long list of birthdays begins with Eartha Kitt:

    One-hit-wonder Chris Montez:

    William Hart of the Delfonics:

    Mick Taylor of the Rolling Stones:

    Cheryl Bentyne of Manhattan Transfer …

    … was born one year before Steve Earle:

    Paul Young:

    Jez Strode played bass for Kajagoogoo:

    Susanna Hoffs of the Bangles:

    John Crawford played bass for Berlin:

    Dave Collard played keyboards for the Jo Boxers:

    Who is Robert James Ritchie? You know him as Kid Rock:

    One death of note, today in 1970: One-hit-wonder Billy Stewart, who did not die in the …

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  • The Bain of Romney’s campaign

    January 16, 2012
    US business, US politics

    The Wall Street Journal’s Holmen W. Jenkins Jr. explains “private equity,” which GOP presidential candidate Newt Gingrich calls “vulture capital”:

    As a rule, private equity takes on the most troubled companies because turning them around offers the biggest profit opportunities. That’s why private equity tends to generate more than its share of traumatic headlines. Look no further than Ripplewood Holdings’ decision to put the maker of Twinkies into bankruptcy this week. It’s the kind of decision that, were Ripplewood’s principals ever to run for office, would get them savaged in an ad.

    But guess what? Ripplewood also bought the company, Hostess Brands, out of bankruptcy three years ago, when it was called Interstate Bakeries. Ripplewood is just the latest manager to wrestle unsuccessfully with the company’s fundamental problem, a unionized workforce in an industry where competitors aren’t unionized. …

    But the best antidote to foolish thinking about job creation is the work of economists Steven J. Davis and John Haltiwanger. Their painstaking research has revealed a side of America’s dynamism that isn’t always pretty. Between 1977 and 2005, years roughly overlapping Mr. Romney’s business career, some 15% of all jobs were destroyed every year, even as total jobs grew by an average of 2% a year. Job creation and destruction are both relentless, the authors showed in paper after paper. The small difference between the two is what we call prosperity.

    But now Republicans are worried. To fault Mr. Romney for being involved with businesses that both grew and shrank, that created jobs and destroyed them, may be to fault him for having eaten from the tree of knowledge in a way that, say, President Obama has not. But how will his story fare in November against Mr. Obama’s simpler story, in which ravenous capitalists destroy jobs and government creates them with things like the Detroit/UAW bailout, solar subsidies and health-care mandates? …

    [Romney] put his talent for calm, careful analysis to work helping American businesses adapt to the onrushing challenges of globalization and technological change. Looking back, it may even be true that his ratio of jobs created to jobs destroyed was better than the economy’s as a whole.

    What does this have to do with the presidency? Perhaps not much, but one thing he didn’t learn at Bain Capital was to twiddle his thumbs because taking action might make somebody mad at him. That’s not the worst qualification to bring to the Oval Office right now.

    Patrick Brennan provides an example of “vulture capital”:

    Since the 1960s, only one American corporation has independently begun to produce steel on a large scale, and Bain Capital deserves a good deal of the credit for its success. … Though it’s impossible to say what effect Mitt Romney’s work at Bain Capital has had on American industry overall, he can point to at least one success story in an ailing American industry: Steel Dynamics. …

    Keith Busse, now chairman of SDI, made his reputation in the 1980s as an executive at Nucor, one of the largest steel firms in the U.S., pioneering a new type of steel mill, “mini-mills,” which use electric-arc furnaces instead of blast furnaces, an innovation that giants such as Bethlehem Steel had not embraced. After he was passed over for promotion in 1993, he and two of his colleagues began discussing the possibility of striking out on their own. They saw potential in mini-mill technology, which had typically been used for applications such as automobile manufacturing, as a way to produce higher-grade steel at a much lower cost. …

    Just 19 months after the initial funding was raised, in January 1996, SDI began production. Seven months later, it managed to turn a profit, and the company held an initial public offering in November of that year. Bain held on to all of its shares as the company continued to grow, using the capital raised to open two new mills of different types in 1997 and 1998. …

    In 1999, Bain Capital sold its stake in SDI for $104 million, generating an internal rate of return for investors of 55.4 percent (my calculation, without dividends and consulting fees). Since then, SDI has continued to grow, and it generated $6.3 billion in revenue in 2011 while employing more than 6,000 American workers. … SDI’s technology has provided a way for American steel producers to compete. The success of SDI has even helped fuel a virtuous cycle — a true job creator, Busse has used some of his wealth to endow a range of engineering professorships and entrepreneurial-studies centers at Indiana universities.

    Larry Kudlow sees a troubled “company” that needs a Bain-style revamp:

    There’s a very troubled company out there called U.S. Government, Inc. It’s teetering on the edge of bankruptcy. And it badly needs to be taken over and turned around. It probably even needs the services of a good private-equity firm, with plenty of experience and a reasonably good track record in downsizing, modernizing, shrinking staff, and making substantial changes in management. Yes, layoffs will be a necessary part of the restructuring.

    A quick look at the income statement of this troubled firm tells the story. Just in the past year (FY 2011) the firm spent $3.7 trillion, but took in only $2.2 trillion in sales revenues. Hence its deficit came to $1.5 trillion.

    Just in the first three months of the new year (FY 2012), the firm’s troubles continued. Outlays for all purposes came in at $874 billion, but income was only $554 billion.  So the shortfall was $320 billion. No hope of a self-imposed turnaround here. Indeed, both the senior management and the board of directors show no signs of making major changes to their business strategy. …

    In fact, the total debt of this firm now equals its total income — an unsustainable position that suggests to many observers that future financing needs will not be met. …

    Anyone operating in business knows full well that even the smartest reorganizing firms are prone to failure as well as success in our free-market capitalist system. But the customer base of the troubled U.S. Government, Inc. seems like it is desperate enough to go the takeover route.

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Steve Prestegard.com: The Presteblog

The thoughts of a journalist/libertarian–conservative/Christian husband, father, Eagle Scout and aficionado of obscure rock music. Thoughts herein are only the author’s and not necessarily the opinions of his family, friends, neighbors, church members or past, present or future employers.

  • Steve
    • About, or, Who is this man?
    • Facebook
    • Twitter
    • Adventures in ruralu0026nbsp;inkBack in June 2009, I was driving somewhere through a rural area. And for some reason, I had a flashback to two experiences in my career about that time of year many years ago. In 1988, eight days after graduating from the University of Wisconsin, I started work at the Grant County Herald Independent in Lancaster as a — well, the — reporter. Four years after that, on my 27th birthday, I purchased, with a business partner, the Tri-County Press in Cuba City, my first business venture. Both were experiences about which Wisconsin author Michael Perry might write. I thought about all this after reading a novel, The Deadline, written by a former newspaper editor and publisher. (Now who would write a novel about a weekly newspaper?) As a former newspaper owner, I picked at some of it — why finance a newspaper purchase through the bank if the seller is willing to finance it? Because the mean bank lender is a plot point! — and it is much more interesting than reality, but it is very well written, with a nicely twisting plot, and quite entertaining, again more so than reality. There is something about that first job out of college that makes you remember it perhaps more…
    • Adventures in radioI’ve been in the full-time work world half my life. For that same amount of time I’ve been broadcasting sports as a side interest, something I had wanted to since I started listening to games on radio and watching on TV, and then actually attending games. If you ask someone who’s worked in radio for some time about the late ’70s TV series “WKRP in Cincinnati,” most of them will tell you that, if anything, the series understated how wacky working in radio can be. Perhaps the funniest episode in the history of TV is the “WKRP” episode, based on a true story, about the fictional radio station’s Thanksgiving promotion — throwing live turkeys out of a helicopter under the mistaken belief that, in the words of WKRP owner Arthur Carlson, “As God is my witness, I thought turkeys could fly.” [youtube=http://www.youtube.com/watch?v=ST01bZJPuE0] I’ve never been involved in anything like that. I have announced games from the roofs of press boxes (once on a nice day, and once in 50-mph winds), from a Mississippi River bluff (more on that later), and from the front row of the second balcony of the University of Wisconsin Fieldhouse (great view, but not a place to go if…
    • “Good morning/afternoon/evening, ________ fans …”
    • My biggest storyEarlier this week, while looking for something else, I came upon some of my own work. (I’m going to write a blog someday called “Things I Found While Looking for Something Else.” This is not that blog.) The Grant County Sheriff’s Department, in the county where I used to live, has a tribute page to the two officers in county history who died in the line of duty. One is William Loud, a deputy marshal in Cassville, shot to death by two bank robbers in 1912. The other is Tom Reuter, a Grant County deputy sheriff who was shot to death at the end of his 4 p.m.-to-midnight shift March 18, 1990. Gregory Coulthard, then a 19-year-old farmhand, was convicted of first-degree intentional homicide and is serving a life sentence, with his first eligibility for parole on March 18, 2015, just 3½ years from now. I’ve written a lot over the years. I think this, from my first two years in the full-time journalism world, will go down as the story I remember the most. For journalists, big stories contain a paradox, which was pointed out in CBS-TV’s interview of Andy Rooney on his last “60 Minutes” Sunday. Morley Safer said something along the line…
  • Food and drink
    • The Roesch/Prestegard familyu0026nbsp;cookbookFrom the family cookbook(s) All the families I’m associated with love to eat, so it’s a good thing we enjoy cooking. The first out-of-my-house food memory I have is of my grandmother’s cooking for Christmas or other family occasions. According to my mother, my grandmother had a baked beans recipe that she would make for my mother. Unfortunately, the recipe seems to have  disappeared. Also unfortunately, my early days as a picky, though voluminous, eater meant I missed a lot of those recipes made from such wholesome ingredients as lard and meat fat. I particularly remember a couple of meals that involve my family. The day of Super Bowl XXXI, my parents, my brother, my aunt and uncle and a group of their friends got together to share lots of food and cheer on the Packers to their first NFL title in 29 years. (After which Jannan and I drove to Lambeau Field in the snow,  but that’s another story.) Then, on Dec. 31, 1999, my parents, my brother, my aunt and uncle and Jannan and I (along with Michael in utero) had a one-course-per-hour meal to appropriately end years beginning with the number 1. Unfortunately I can’t remember what we…
    • SkålI was the editor of Marketplace Magazine for 10 years. If I had to point to one thing that demonstrates improved quality of life since I came to Northeast Wisconsin in 1994, it would be … … the growth of breweries and  wineries in Northeast Wisconsin. The former of those two facts makes sense, given our heritage as a brewing state. The latter is less self-evident, since no one thinks of Wisconsin as having a good grape-growing climate. Some snobs claim that apple or cherry wines aren’t really wines at all. But one of the great facets of free enterprise is the opportunity to make your own choice of what food and drink to drink. (At least for now, though some wish to restrict our food and drink choices.) Wisconsin’s historically predominant ethnic group (and our family’s) is German. Our German ancestors did unfortunately bring large government and high taxes with them, but they also brought beer. Europeans brought wine with them, since they came from countries with poor-quality drinking water. Within 50 years of a wave of mid-19th-century German immigration, brewing had become the fifth largest industry in the U.S., according to Maureen Ogle, author of Ambitious Brew: The Story of American Beer. Beer and wine have…
  • Wheels
    • America’s sports carMy birthday in June dawned without a Chevrolet Corvette in front of my house. (The Corvette at the top of the page was featured at the 2007 Greater Milwaukee Auto Show. The copilot is my oldest son, Michael.) Which isn’t surprising. I have three young children, and I have a house with a one-car garage. (Then again, this would be more practical, though a blatant pluck-your-eyes-out violation of the Corvette ethos. Of course, so was this.) The reality is that I’m likely to be able to own a Corvette only if I get a visit from the Corvette Fairy, whose office is next door to the Easter Bunny. (I hope this isn’t foreshadowing: When I interviewed Dave Richter of Valley Corvette for a car enthusiast story in the late great Marketplace Magazine, he said that the most popular Corvette in most fans’ minds was a Corvette built during their days in high school. This would be a problem for me in that I graduated from high school in 1983, when no Corvette was built.) The Corvette is one of those cars whose existence may be difficult to understand within General Motors Corp. The Corvette is what is known as a “halo car,” a car that drives people into showrooms, even if…
    • Barges on fouru0026nbsp;wheelsI originally wrote this in September 2008.  At the Fox Cities Business Expo Tuesday, a Smart car was displayed at the United Way Fox Cities booth. I reported that I once owned a car into which trunk, I believe, the Smart could be placed, with the trunk lid shut. This is said car — a 1975 Chevrolet Caprice coupe (ours was dark red), whose doors are, I believe, longer than the entire Smart. The Caprice, built down Interstate 90 from us Madisonians in Janesville (a neighbor of ours who worked at the plant probably helped put it together) was the flagship of Chevy’s full-size fleet (which included the stripper Bel Air and middle-of-the-road Impala), featuring popular-for-the-time vinyl roofs, better sound insulation, an upgraded cloth interior, rear fender skirts and fancy Caprice badges. The Caprice was 18 feet 1 inch long and weighed 4,300 pounds. For comparison: The midsize Chevrolet of the ear was the Malibu, which was the same approximate size as the Caprice after its 1977 downsizing. The compact Chevrolet of the era was the Nova, which was 200 inches long — four inches longer than a current Cadillac STS. Wikipedia’s entry on the Caprice has this amusing sentence: “As fuel economy became a bigger priority among Americans…
    • Behind the wheel
    • Collecting only dust or rust
    • Coooooooooooupe!
    • Corvettes on the screen
    • The garage of misfit cars
    • 100 years (and one day) of our Chevrolets
    • They built Excitement, sort of, once in a while
    • A wagon by any otheru0026nbsp;nameFirst written in 2008. You will see more don’t-call-them-station-wagons as you drive today. Readers around my age have probably had some experience with a vehicle increasingly rare on the road — the station wagon. If you were a Boy Scout or Girl Scout, or were a member of some kind of youth athletic team, or had a large dog, or had relatives approximately your age, or had friends who needed to be transported somewhere, or had parents who occasionally had to haul (either in the back or in a trailer) more than what could be fit inside a car trunk, you (or, actually, your parents) were the target demographic for the station wagon. “Station wagons came to be like covered wagons — so much family activity happened in those cars,” said Tim Cleary, president of the American Station Wagon Owners Association, in Country Living magazine. Wagons “were used for everything from daily runs to the grocery store to long summer driving trips, and while many men and women might have wanted a fancier or sportier car, a station wagon was something they knew they needed for the family.” The “station wagon” originally was a vehicle with a covered seating area to take people between train stations…
    • Wheels on theu0026nbsp;screenBetween my former and current blogs, I wrote a lot about automobiles and TV and movies. Think of this post as killing two birds (Thunderbirds? Firebirds? Skylarks?) with one stone. Most movies and TV series view cars the same way most people view cars — as A-to-B transportation. (That’s not counting the movies or series where the car is the plot, like the haunted “Christine” or “Knight Rider” or the “Back to the Future” movies.) The philosophy here, of course, is that cars are not merely A-to-B transportation. Which disqualifies most police shows from what you’re about to read, even though I’ve watched more police video than anything else, because police cars are plain Jane vehicles. The highlight in a sense is in the beginning: The car chase in my favorite movie, “Bullitt,” featuring Steve McQueen’s 1968 Ford Mustang against the bad guys’ 1968 Dodge Charger: [youtube=http://www.youtube.com/watch?v=GMc2RdFuOxIu0026amp;fmt=18] One year before that (but I didn’t see this until we got Telemundo on cable a couple of years ago) was a movie called “Operación 67,” featuring (I kid you not) a masked professional wrestler, his unmasked sidekick, and some sort of secret agent plot. (Since I don’t know Spanish and it’s not…
    • While riding in my Cadillac …
  • Entertainments
    • Brass rocksThose who read my former blog last year at this time, or have read this blog over the past months, know that I am a big fan of the rock group Chicago. (Back when they were a rock group and not a singer of sappy ballads, that is.) Since rock music began from elements of country music, jazz and the blues, brass rock would seem a natural subgenre of rock music. A lot of ’50s musical acts had saxophone players, and some played with full orchestras … [youtube=http://www.youtube.com/watch?v=9CPS-WuUKUE] … but it wasn’t until the more-or-less simultaneous appearances of Chicago and Blood Sweat u0026amp; Tears on the musical scene (both groups formed in 1967, both had their first charting singles in 1969, and they had the same producer) that the usual guitar/bass/keyboard/drum grouping was augmented by one or more trumpets, a sax player and a trombone player. While Chicago is my favorite group (but you knew that already), the first brass rock song I remember hearing was BSu0026amp;T’s “Spinning Wheel” — not in its original form, but on “Sesame Street,” accompanied by, yes, a giant spinning wheel. [youtube=http://www.youtube.com/watch?v=qi9sLkyhhlE] [youtube=http://www.youtube.com/watch?v=OxWSOuNsN20] [youtube=http://www.youtube.com/watch?v=U9U34uPjz-g] I remember liking Chicago’s “Just You ‘n Me” when it was released as a single, and…
    • Drive and Eat au0026nbsp;RockThe first UW home football game of each season also is the opener for the University of Wisconsin Marching Band, the world’s finest college marching band. (How the UW Band has not gotten the Sudler Trophy, which is to honor the country’s premier college marching bands, is beyond my comprehension.) I know this because I am an alumnus of the UW Band. I played five years (in the last rank of the band, Rank 25, motto: “Where Men Are Tall and Run-On Is Short”), marching in 39 football games at Camp Randall Stadium, the Hubert H. Humphrey Metrodome in Minneapolis, Michigan Stadium in Ann Arbor, Memorial Stadium at the University of Illinois (worst artificial turf I had ever seen), the University of Nevada–Las Vegas’ Sam Boyd Silver Bowl, the former Dyche Stadium at Northwestern University, five high school fields and, in my one bowl game, Legion Field in Birmingham, Ala., site of the 1984 Hall of Fame Bowl. The UW Band was, without question, the most memorable experience of my college days, and one of the most meaningful experiences of my lifetime. It was the most physical experience of my lifetime, to be sure. Fifteen minutes into my first Registration…
    • Keep on rockin’ in the freeu0026nbsp;worldOne of my first ambitions in communications was to be a radio disc jockey, and to possibly reach the level of the greats I used to listen to from WLS radio in Chicago, which used to be one of the great 50,000-watt AM rock stations of the country, back when they still existed. (Those who are aficionados of that time in music and radio history enjoyed a trip to that wayback machine when WLS a Memorial Day Big 89 Rewind, excerpts of which can be found on their Web site.) My vision was to be WLS’ afternoon DJ, playing the best in rock music between 2 and 6, which meant I wouldn’t have to get up before the crack of dawn to do the morning show, yet have my nights free to do whatever glamorous things big-city DJs did. Then I learned about the realities of radio — low pay, long hours, zero job security — and though I have dabbled in radio sports, I’ve pretty much cured myself of the idea of working in radio, even if, to quote WAPL’s Len Nelson, “You come to work every day just like everybody else does, but we’re playing rock ’n’ roll songs, we’re cuttin’ up.…
    • Monday on the flight line, not Saturday in the park
    • Music to drive by
    • The rock ofu0026nbsp;WisconsinWikipedia begins its item “Music of Wisconsin” thusly: Wisconsin was settled largely by European immigrants in the late 19th century. This immigration led to the popularization of galops, schottisches, waltzes, and, especially, polkas. [youtube=http://www.youtube.com/watch?v=yl7wCczgNUc] So when I first sought to write a blog piece about rock musicians from Wisconsin, that seemed like a forlorn venture. Turned out it wasn’t, because when I first wrote about rock musicians from Wisconsin, so many of them that I hadn’t mentioned came up in the first few days that I had to write a second blog entry fixing the omissions of the first. This list is about rock music, so it will not include, for instance, Milwaukee native and Ripon College graduate Al Jarreau, who in addition to having recorded a boatload of music for the jazz and adult contemporary/easy listening fan, also recorded the theme music for the ’80s TV series “Moonlighting.” Nor will it include Milwaukee native Eric Benet, who was for a while known more for his former wife, Halle Berry, than for his music, which includes four number one singles on the Ru0026amp;B charts, “Spend My Life with You” with Tamia, “Hurricane,” “Pretty Baby” and “You’re the Only One.” Nor will it include Wisconsin’s sizable contributions to big…
    • Steve TV: All Steve, All the Time
    • “Super Steve, Man of Action!”
    • Too much TV
    • The worst music of allu0026nbsp;timeThe rock group Jefferson Airplane titled its first greatest-hits compilation “The Worst of Jefferson Airplane.” Rolling Stone magazine was not being ironic when it polled its readers to decide the 10 worst songs of the 1990s. I’m not sure I agree with all of Rolling Stone’s list, but that shouldn’t be surprising; such lists are meant for debate, after all. To determine the “worst,” songs appropriate for the “Vinyl from Hell” segment that used to be on a Madison FM rock station, requires some criteria, which does not include mere overexposure (for instance, “Macarena,” the video of which I find amusing since it looks like two bankers are singing it). Before we go on: Blog posts like this one require multimedia, so if you find a song you hate on this blog, I apologize. These are also songs that I almost never listen to because my sound system has a zero-tolerance policy — if I’m listening to the radio or a CD and I hear a song I don’t like, it’s, to quote Bad Company, gone gone gone. My blonde wife won’t be happy to read that one of her favorite ’90s songs, 4 Non Blondes’ “What’s Up,” starts the list. (However,…
    • “You have the right to remain silent …”
  • Madison
    • Blasts from the Madison media past
    • Blasts from my Madison past
    • Blasts from our Madison past
    • What’s the matter with Madison?
    • Wisconsin – Madison = ?
  • Sports
    • Athletic aesthetics, or “cardinal” vs. “Big Red”
    • Choose your own announcer
    • La Follette state 1982 (u0022It was 30 years ago todayu0022)
    • The North Dakota–Wisconsin Hockey Fight of 1982
    • Packers vs. Brewers
  • Hall of Fame
    • The case(s) against teacher unions
    • The Class of 1983
    • A hairy subject, or face the face
    • It’s worse than you think
    • It’s worse than you think, 2010–11 edition
    • My favorite interview subject of all time
    • Oh look! Rural people!
    • Prestegard for president!
    • Unions vs. the facts, or Hiding in plain sight
    • When rhetoric goes too far
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