Daily Archives: 03/05/2009

(Community Matters) You gotta be kidding me? Our city negotiates in good faith with businesses to invest in our community. The investments are made and now two usually thoughtful council members are talking about “asking” for a retrade of the business agreement, effectively suggesting Austin rescind its agreement with these investors? And, one of these members wants to be our next mayor, our representative nationally????

This is NOT the reputation that will help Austin weather the economic storm, become a leader in alternative energies, attract other job opportunities nor retain our favorable bond rating. I hope mayoral hopeful Lee Leffingwell and Council member MikeMartinez (former firefighters union president) will rethink this and retract the proposal.

Additionally, though I know both owe the police and firefighters’ union for their endorsements, I hope they will rethink their proposal that these two groups (both the highest paid in our state) be exempt from bearing any part in fiscal tightening. To instead propose closing libraries, park services and further cutting back critical human services in order to protect those who have endorsed them is not responsible and is not leadership.

(Community Matters) Last night Steven and I co-hosted a fundraiser for Mayor Pro Tem Brewster McCracken’s race for mayor. Taylor Andrews coordinated the event and hosted it in his 43rd floor penthouse at the 360 Condos. Super duper crowd in attendance.

Mayor Pro Tem Brewster McCracken

Taylor Andrews

other hosts include Bettie Naylor, John Hildreth, David Smith, John Hogg, Celia Israel, David Garza, Chris Long, Tim McCabe, Richard Hartgrove, Gary Cooper, Todd Chessher, Charles Gentry, Paul Hilliard, Danny Hamilton, Lew Aldridge, Dennis Karbach, Robert Browning, Eric Behrens, Stan Young, Michael Smothers, Sergio Durante, Bob Dailey, Jordan Herman and David Kurio.

The crowd was enthusiastic and generous, most acknowledging the choice was between two good council members, Brewster who wants to be proactive, focusing on jobs and economic expansion during these challenging times and Lee who prefers to hunker down and survive the economic storm. The problem with the latter is that the new industrial epicenters for clean energy technology will be decided during the next two years and Austin can’t afford to lose this opportunity. Additionally, Brewster is enthusiastic and extraordinarily hard working. Lee has always been lukewarm about the race – it took a draft Lee campaign to even convince him to run.

John Hildreth

John should be an elected official. He provided an articulate endorsement & introduction of Brewster.

(Community Matters) Can I just say, I love Continental Airlines.

I’ve been an elite member for many, many years – don’t have to wait in usual lines, access to best seats on the airplane and usually upgraded. However, last year, after way too many flights overseas and to NYC in 2007, I just didn’t feel like traveling as much, flew on a couple of trips with friends and a couple on miles – i.e., fewer miles earned.

So, in preparation for our trip next week, I noticed I’d lost my elite status. Especially in London, the lines for security and check-in can be tortuous. yikes

Well, I called Continental. After reviewing my account, they agreed to upgrade me to elite status for three months and for the rest of the year if I’ll fly 6,000 miles during the period. London is nearly 10,000, so wow, done. Love Continental!

(Community Matters) Just talked with Michael Barnes. He’s still in severe pain though believes the hematomas on his leg are getting better. Believed to be a reaction to med interactions. Believes he’s on the mend. Obviously, being cared for by #1 Nurse Keller.

(Community Matters) The Goldman Sachs forecast as summarized by Noam Scheiber of the New Republic

A plugged-in source points me to Goldman’s latest economic forecast, which anticipates -7% GDP growth this quarter and -3% GDP growth next quarter, down from an earlier forecast of -4.5% and -1%, respectively. What’s remarkable about the change, though, is that the new numbers factor in the stimulus, whose effects Goldman thinks will be significant (and positive), whereas the old forecast didn’t. And yet they still have the economy contracting by much more than previously thought. Kind of gives you an idea of what we’re up against…

For what it’s worth, they do see us back in positive territory by the summer.

(Community Matters) Good gosh, of course drug companies aren’t off the hook for bad side effects just because the FDA approved a label.

Never a fan of frivolous suits; nevertheless, free markets require the checks & balances of legal liability to keep the extraordinary powers of, especially, multinational/global businesses in check. Chief Justice Roberts, Alito and Scalia think drugs companies shouldn’t be held responsible beyond federal approvals. Thank gosh they are in the minority.

(Community Matters)
I’ve been against the idea of rescuing shareholders at banks; however, a couple of lines in today’s Thomas Friedman column give me pause.

Nationalizing Citigroup may sound good on paper, but putting Citigroup into receivership could trigger all kinds of defaults on derivative contracts that it has written . . . . set off more falling dominos, a la Lehman Brothers. Posted from my blackberry.