Monthly Archives: March 2009

(Community Matters) It’s all about getting reelected, continuing to dole out largess to his friends. I’ve always wondered how the man has become a multimillionaire while spending his entire career in public office – all while he’s rejecting basic assistance to those in the most need and dallying around.

(Community Matters) Legislation and regulations should be crafted to ensure appropriate government returns from the upside of these asset purchases – specifically in their resale to private firms – there will be significant upside.

At the end of the 80s S&L crisis (which cost the government “only” less than $200 billion btw), the RTC was selling its troubled assets with appropriate equity participation. They’d learned to share in realized values, upped their carry and still allowed enough reward for private investors.

Congress and Obama’s administration must ensure ample taxpayer return when these assets are sold – from the very first sales.

Public/private partnerships are the only way to realize due returns. And, sizeable gains are assured. Already, disgraced Countrywide executives are laughing all the way to the bank by purchasing distressed assets at nickles on the dollar and realizing tens of millions of dollars in gains.

Multi-million dollar funds – soon to be billions – are on the side lines, ready to purchase these assets. In some cases, staff is hired, on-board and waiting for the green light. The earliest troubled asset purchases will be cherry picked and the most profitable. American taxpayers are investing trillions in cleaning up the bankers’ mess. These same bankers and their investors will spend pennies on the dollar to purchase these assets and will realize extraordinary returns. They’ll be due hefty rewards for their risk, expertise and to motivate the partnerships, and taxpayers deserve an even greater share.

(Community Matters) Some photos from Steven. He’s in Adare, Ireland, which is a small town in central southern Ireland, near Limerick.

(Community Matters) Good gosh, how have we gotten back to this place so quickly? I concur with Senator Watson, let’s reconfigure this puppy quickly. And, no disrespect to Commissioner Gomez but sure seems time for a strong, proven turnaround expert as chair of the board. Council member Martinez playing an important role while acknowledging responsibility as a long time board member.

(Community Matters) No SXSW for me this year, but plenty of time with niece and newphew.  Instead of attending Vanity Fair’s bash at the Belmont last night, sent my brother & sister-in-law – a win for all of us.  Little Eli, Paulina & I had a super night out & about – Wheatsville, Toy Joy, walking up and down Guadalupe, the Triangle, finally Salvation for pizza.  

(Community Matters) Very excited about four new board members: Scott Abel (founder & CEO, Spiceworks), Elizabeth Davis (founder, Allegro), Dave Hood (CEO, Troux Technologies) & Phil Siegel (GP, Austin Ventures).

Also, can’t wait – EF selected by our dear friends at TateHahn & Associates as a pro bono client for a marketing/branding boot camp. We need this.

Lemonade Day – on May 3, buy lots of lemonade. Thanks to dear friends at Trilogy, including Joe & Andra Liemandt, we’re launching our kids entrepreneurship & philanthropy training initiative. During their second year in Houston, the kids sold $1,300,000 of lemonade from 11,600 stands, donating over $220,000 to charity. Modest goals our first year – we’re hoping for 2,500 stands.

The Austin Entrepreneur ™ – a new hard copy publication hitting the stands later this month. Well, not really hitting the stands; it’ll be exclusive distribution.

(Community Matters) At dinner on Wednesday night, Michael Mitchell brought up the question of which symbol Doonesbury might adopt for President Obama. It begged reminding which symbols Garry Trudeau adopted for presidents starting with Reagan.

• Reagan – Ron Headrest (depicting artificial intelligence)

• George H.W. Bush – invisible, often depicted as a point of light

• Bill Clinton – a waffle

• George W. Bush – originally a Stetson Hat atop an asterik (all hat, no cattle – the asterik adopted after Bush’s loss of the popular vote and installation by the S. Ct) then a Roman military hat on top of an asterik, representing imperialism.
  

Other popular symbols include: an unexploded bomb for Newt Gingrich and a feather for light-weight Dan Quayle

(Community Matters) Cousin Daniel Sepulveda is all set to launch as Ambassador Ron Kirk’s Assistant US Trade Representative for Congressional Affairs. Daniel was formerly Senator Barack Obama’s economic policy advisor. Before that, he worked as a legislative assistant for Senator Barbara Boxer.

(Community Matters) Not bad at all, #6 in AAS poll of best local blogs – thanks to readers who voted. Not sure if Kip Keller really voted for CommunityMatters over Out & About, but it was sweet of Michael Barnes to say in any case. Sorta evens out, I voted for Out & About myself.

(Community Matters) I don’t want to see the demise of locals or nationals either. And, I disagree with Leonard Pitts that Kwame Kilpatrick & Larry Craig wouldn’t be taken down without a local daily. Experiments are underway around the country taking dailies to exclusively online. Sites such as BOR would undoubtedly step up – we just have to figure out an economic model & bring journalistic conflict of interest standards to those sites. Wikipedia lists the Austin American Statesman’s circulation at 174k daily, 216k on Sunday – obviously there’s huge demand that would transfer to a more economic business model (sorry JT) if deployed – and one would deploy, rest assured.

(Community Matters) Three of my favorite people:

Shobie Partos, Amanda Chiampi, Peter Frey

Our EF staff members. Not photographed, Marion Burch Cimbala who is a virtual EFer, running our leadership projects (’07 – ’08 breast cancer service collaboration; this year, CSR Conference and Lemonade Day Project)

(Community Matters) from Saundra Kirk:

at 2:00 PM ET this afternoon, the full Senate confirmed Ronald Kirk as the U.S. Trade Representative on a roll-call vote of 92 aye/5 no. The President will now receive notification of the confirmation.