Thursday, January 18, 2007

Wednesday, January 17, 2007

MADD Mad


I wonder what Conservative Senate House Leader and Secretary of State Marjorie LeBreton who is on the Board of MADD had to do with this. But wait she approved the Conservatives doing the same thing to Garth Turner.
Just another case of blaming the whistle blower. And the corporation and its board justify ripping off customers by turfing the founder and keep doing business as usual.


The founder of MADD Canada was voted off of two of the organization’s key committees following a public spat over the way it raises funds.

John Bates, who established Mothers Against Drunk Driving and was awarded the Order of Canada for his work with the organization, says he feels betrayed.

“I am getting old. I am nearly 80 years old and I put an awful lot of money and energy into this — and I have been there since the very beginning when it was almost expected to drink and drive,” said Bates, who believes he is being punished for speaking out about what he calls the organization’s questionable fundraising techniques.

Bates accused MADD of spending 81per cent of all money raised on fundraising and administration costs — leaving only 19 per cent to run the programs donated dollars are intended for.



See

LeBreton


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War On Women-Iraq

It does not matter who did this, it was done by men against women. It was a deliberate attempt to intimidate women from being active in public life. So much for the liberation of women in Iraq. So much for Bush's surge, all it has produced is a surge of ethnic cleansing and attacks on women. Foward to the past, backwards to the future.

Scores killed in Baghdad university



The bombs were exploded as students and staff
left the university [AFP]

Nuri al-Maliki, the Iraqi prime minister, has said "terrorists and Saddamists" were behind the bombing at al-Mustansiriya University.
At least 65 people were killed when a car and a suicide bomber exploded outside the University on Tuesday.
More than 100 people were injured in the blast, mostly students and staff leaving the university.
Al-Maliki said: "They [those responsible] carried out an ugly crime against humanity targeting the innocent students of Al-Mustansiriya University."
An official at the university said: "The majority of those killed [in the explosion] are female students who were on their way home."




































See

Unemployment Breeds Terrorism

Iraq

Feminism


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Nazanin Fateh Update


As reported here earlier last year the fate of Nazanin Fateh, who was to be hung in Iran for defending herself from rape, became a one woman cause for Canada's Miss World, who also shared Nazanin's first name. Nazanin Fateh got a new trial and while she is not going to face death she must now pay blood money.

According to Etemaad Newspaper in Iran, three out of the five judges in Nazanin's retrial have ordered that dieh "blood money" be paid to the family of the man who was killed, although the other two had recommended Nazanin's unconditional freedom.


This trial took place on January 10th, 2007 (20th of Dey 1385 in the Iranian calendar). The five judges that reviewed her case determined that the act was unintentional and was indeed a case of self-defense. As a result she was exonerated from the charge of murder, however the court also has ruled that disproportionate force was used by Nazanin while trying to defend herself and her 15-year old niece. Accordingly they have asked Nazanin to pay "dieh" retribution (blood money) to receive a pardon from the family of the deceased before she can be released from prison.

Nazanin's lawyers, Shadi Sadr and Mr. Mostafaei, intend to appeal the payment of blood money but since this may take several months, they also have requested bail so that Nazanin may be released from prison immediately. The court has set bail in the amount of 400,000,000 Rials (over US$40,000).

At this point, because Nazanin's family is very poor and unable to make payment of the bail or blood money your generosity is urgently requested to secure Nazanin Fatehi's freedom as soon as possible. The Nazanin Fatehi Trust fund has been set up. See Donations page.


See:

News Scoop: Nazanin Fateh

Feminism


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Dion's Corporate Welfare For Big Oil

The Tories hate all things Liberal. Well almost. They cut various social programs they identified as Liberal much to the detriment of Canadians.

One Liberal program they didn't cut was corporate welfare for Big Oil. But today
John Baird identified that subsidy program as being current Liberal Leader Stephane Dions fault.

Which may mean that as a sop to the NDP, the Tories may very well cut the program. But no need to shed a tear for Big Oil, like Dion the Tories will offer corporate welfare in the form of tax cuts for clean energy strategies
, like using nuclear power.

See:

Tar Sands

Energy


Big Oil

Corporate Welfare





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Alberta Tar Sands & US Energy Security

CBC Canada News Now is reporting that they have obtained the minutes of a secret bilateral meeting of Big Oil and both the U.S. and Canadian governments a week prior to George Bush's State of the Union Speech last year when he declared that the U.S. was addicted to Middle East oil.

It took place in Houston prior to the State of the Union speech and prior to Harper announcing Canada was poised to become an Energy Super Power.

And Big Oil and its Big Government pals all agreed that in order to decrease Amercian dependence on 'foreign oil' it needed to increase it's reliance on Alberta, the tar sands in particular. You see under NAFTA we are partners, not a foreign power. And the minutes called for a five fold increase in tar sands start up operations in the next few years.

Which puts today's announcement from the Conservatives on increasing the use of nukes in the tar sands as an alternative energy source in an interesting light. It would solve one of the expenses of start up operations.

See:

Tar Sands

Energy


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Harpers NEP

I don't expect to see as much outrage over this new NEP in Alberta,as I do over Dion's pronoucements over the weekend on how Tax Credits to Big Oil is somehow the newest threat to Alberta.

Call me sceptical, call me a lifelong Albertan, but the True Blue Tory types in Alberta will deny, deny, deny this is a new NEP. Well it is.

MONTREAL -- Prime Minister Stephen Harper is poised to pre sent a solution to the so-called fiscal imbalance between the federal government and the provinces, the French-language network of the CBC reported Monday.

The plan will be part of the next federal budget, which will be tabled toward the end of March, which is later than usual, Radio-Canada said. The TV network later reported the budget would be tabled March 20.

The proposal would exempt 50 per cent of revenues from natural resources rather than the 100 per cent previously promised to Saskatchewan, Radio-Canada said.

Under the proposed plan, Quebec would get a total of $7 billion instead of the $5.5 billion in transfers it now gets.

Saskatchewan would get only $200 million instead of the $800 million it is awaiting.

Harper would be accepting the recommendations of a report ordered by the federal government last year which suggested that half the revenues of the provinces drawn from natural resources be included in the calculation of equalization payments.

'The Conservatives campaigned hard on saying they would remove natural resources from the equation. …This is an absolute betrayal of what their election promise was.'-Saskatchewan Finance Minister Andrew Thomson

Alberta Premier Ed Stelmach said it was speculative to comment on whether Ottawa intends to alter the formulas, but Albertans were already paying their fair share into confederation.
And of course this would be fair for all of Canada, that is Ontario and Quebec, whose largest natural resource cash cow; hydro will not be touched.

See:

Harper

NEP

Equalization





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One Ship Navy



So much for Arctic Sovereignty. Heck so much for costal patrols. The Conservative government has only one ship on active duty, the HMS Ottawa, now posted in the Persian Gulf. Thanks to the Afghanistan mission our Navy is in dry dock due to funding cuts.

Well the government had to pay for its war somehow, and it's at the expense of Canadian coastal patrols.

And this might be another reason that the Conservative Government Fisheries Minister was opposed to tougher laws against deep trawler fishing, we have no Navy to enforce those laws.


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Esperanto

Esperanto an artifical language is 120 years old. Felichan Naskightagon!

Esperanto proves resilient as the movement celebrates 120 years

With the prospect of international peace looking more distant than ever, it's worth sparing a thought for the work of Doctor Ludovic Lazarus Zamenhof.

A Polish Jew from the West of the Russian Empire, Zamenhof developed the Esperanto language in the late nineteenth century.

Dreaming of peace and international understanding, he constructed a composite of Romance and Germanic languages, which he hoped would be used as a universal second tongue.

Though his vision was never truly realised, small bands of Esperantists around the world are keeping the movement alive and hoping that the new global age may give the Esperanto a second chance.


It was a cause celebre for many anarchists at the begining of the 20th Century.

Esperanto in China and among the Chinese diaspora was for long periods closely linked with anarchism.

It also appeals to those of a scientific or technocratic bent.....

Mac OS X supports a language invented in the 19th century by a Polish ophthalmologist, a language invented in the 20th century for a sci-fi movie, and a language that formed in the 10th century on a Pacific island chain.

After U.S. English, make these your second, third, and fourth preferences respectively for your Mac’s application menus, dialogs, and sorting.

Answer: The three languages are Esperanto, Klingon, and Hawaiian and can be located by opening the International system preference, selecting the Language tab, and then clicking the Edit List button. Esperanto is easy enough to find but Klingon and Hawaiian aren’t as Klingon is spelled in the Klingon language (it’s the tlhlngan Hol entry) and Hawaiian is likewise presented in its native spelling. (You’ll find it just below Hrvatski.)


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Conservatives Glow Green

The announcement by the Conservative Government of extra funding for science and technology was aimed at benefiting the utilities, King Coal and Nukies.

There was representation from public utilities, private utilities, and the Ontario Power Workers Union their co-partners in nuclear power in Ontario. One of the few union backed P3's in Canada.

The room glowed as Natural Resources Minister Gary Lunn proclaimed the era of nuclear steam injection for the Tar Sands.

Well that is a better idea than the original plan which was to detonate and atomic bomb, a teeny tiny one, in the tar sands creating a sea of molten bitumen.

But nuclear powered steam injection remains problematic since it will produce toxic waste, and still wastes water, which is already scarce thanks to expanded Tar Sands operations. It looks like everyone. including
Liberal leader Stephane Dion, is pro nuke when it comes to the Tar Sands.

Taking another page from Ralph Klein, Lunn declared that the government would invest in clean coal technology, someone woke up the Tories and they have discovered that you could sell this technology to India and China. At least Lunn recognized that clean coal technology doesn't exist yet, Ralph claimed it did.

Nukes for Ontario and Nukes for Alberta, and a uranium boom for Saskatchewan. And Saskatchewan gets to be the dumping ground, literally, for nuclear waste and CO2 sequestration.

Now about those unsightly toxic radioactive wastes.....well.....we can solve that too......sometime...in the future.....there is technology being developed.

Isn't that how we got in this mess in the first place?!

See:

nuclear power


Environment


Hydro

Energy Probe


CANDU


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Tuesday, January 16, 2007

Cuba and Canada







Harper can help US take fresh look at Cuba says Jim Travers in today's Toronto Star.

Sorry Jim but he won't.

He had an opportunity but he blew it. And the right wing lobby aligned with the Conservative Party opposes any rapproachment with Cuba.

See:

Cuba

Castro


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Slavery Returns To Britain

But this is already happening in Canada.

Nannies and farmworkers
are considered indentured servants under provincial employment laws, and by the Federal Governments migrant/temporary worker program. At least in Britain they have called a spade a spade, this is just modern slavery.

Britain's shame: Modern-day slaves

This is the story of Somalatha, who is from Sri Lanka. That's not her real name -- and you're about to find out why.

It's a story most people won't believe could occur in modern-day Britain. Sadly, it is true. It happened very recently.

Somalatha arrived in Britain when she was 29 with a family for whom she had been working in Jordan. Her job was to be a maid. She had to work 16 to 18 hours a day, for which she was paid about $450 Cdn a month. In the first two years, she was not given one day off.

She was not allowed to eat with the family and had to wait for leftovers. If there were none, she was advised to eat onions and potatoes.

If any food was missing, she was automatically blamed for it, or even punished.

Somalatha had to sleep on a sofa-bed in the sitting room, where she was disturbed by anyone who came in late.

Friday nights were especially difficult since the teenage children would come home late at night and bring their friends, which would prevent her from sleeping.

Her employer deliberately let Somalatha's visa expire. Since she was without a visa, she could not run away. She kept asking for a letter from her employer so she could apply to renew her visa but this was refused.

Under current British law, women like Somalatha have a way out. But the government is about to close her escape route. Earlier this year, it proposed changes to the law that divides migrants into five tiers according to their perceived skills and the economic benefit they will bring to Britain.

This system makes no mention of women like Somalatha. But immigration officials have told Anti-Slavery International that domestic workers like Somalatha will henceforth be tied to the employers with whom they entered the United Kingdom, with no right to change employers -- no matter how abusive their treatment.


See:

Slavery in Canada

Monte Solberg



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Psycho Bosses Depressed Workers

Being a wage slave under capitalism doesn't just kill it is also depressing......

About half a million Canadian workers experience depression, and most say it interferes with their ability to manage their jobs, Statistics Canada reported Friday.

Data from 2002 showed almost four per cent of workers between the ages of 25 and 64 reported being depressed in the previous 12 months before the survey

Job-related factors associated with depression included:

  • Night shifts.
  • Non-regular hours.
  • Work stress.
  • Occupation.

The prevalence of depression was relatively high among workers who spent fewer than 30 hours on the job. It was lower among those who worked more than 40 hours.


Of course workers are depressedwhen they are forced into working two jobs just to make ends meet. And of course they can't manage their jobs because the bosses are all psychos.

Millions of harassed workers could have their worst fears confirmed about their bosses thanks to a new test to weed out the 'corporate psycho'.

You may already suspect that your boss's smooth, charming exterior masks a sadistic control freak with a penchant for violence.

Professor Hare estimates that 1% of the general population in North America are psychopaths.

The professor believes that psychopath's cold-blooded ability to manipulate others without remorse, coupled with a veneer of charm and high energy can make them extremely successful in many walks of life.

They could be perfectly qualified for top posts in the military, politics or in huge multi-national companies as history has already shown in one notorious case.

Former Daily Mirror tycoon Robert Maxwell, who made off with the newspaper's pension fund, was named as a classic example of a man in a powerful position who might very well have displayed psychopathic traits.

Which may explain why so many bosses are criminal capitalists.

See:

Work Kills

Work Sucks

Which Is True



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The Wicker Man Review

The Wicker Man Review

Why the remake of the Wickerman is as bad as I said it would be.

See:

Wicca

Pagan


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Christy Moore - Viva La Quince Brigada

Christy Moore - Viva La Quince Brigada

Christy Moore wrote the song about the Irish who went to Spain with the International Brigades to fight against Franco and the fascists during the Spanish Civil War.It has been sung by many singers and groups since.The tune dates back to the Napoleonic Wars.

It contains a denuciation of the Irish Reactionaries and the Catholic Church who blessed them for fighting with the fascists.

Includes some vintage footage from the Spanish Civil War.

No Pasaran!


See:

Rememberance or Revisionism

Kenney is A Funny Guy




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Revloutionary Music Flashback

Tom Robinson Band - power in the darkness


Wow I was thinking whatever happened to the Tom Robinson Band. The first 'out' gay left band that was active in the Anti-Fscist movement in Britain. And lo and behold I came across this video.

So I thought I would share it with ya' all. It's a great revolutionary song.

Just like 'Rise Up' by Canada's own 'out band' the Partachute Club, though it was recuperated by McCains for their Pizza ads on TV. Which never happened to TRB.


More YouTube videos on Le Revue Gauche;

What CNN Won't Show You

Communist Manisfesto Toon

Marxism in action






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Monday, January 15, 2007

Martin Luther King Voice of the Working Class


What is often forgotten about Martin Luther King was that he was the voice the working class in America, black and white. Which is what the conservatives in the United States will never fogive him for.


"In our glorious fight for civil rights, we must guard against being fooled by false slogans, as 'right-to-work.' It provides no 'rights' and no 'works.' Its purpose is to destroy labor unions and the freedom of collective bargaining... We demand this fraud be stopped." Martin Luther King

Negroes are almost entirely a working people. There are pitifully few Negro millionaires, and few Negro employers. Our needs are identical with labor's needs — decent wages, fair working conditions, livable housing, old age security, health and welfare measures, conditions in which families can grow, have education for their children and respect in the community. That is why Negroes support labor's demands and fight laws which curb labor. That is why the labor-hater and labor-baiter is virtually always a twin-headed creature spewing anti-Negro epithets from one mouth and anti-labor propaganda from the other mouth. Martin Luther King


Martin Luther King Jr. was in Memphis, Tennessee, the day he died to support a strike by the city’s sanitation workers. The garbage men there–almost all of them black–had recently formed a chapter of the American Federation of State, County and Municipal Employees to demand better wages and working conditions. But the city refused to recognize their union, and when the 1,300 employees walked off their jobs, marching under picket signs reading "I Am a Man", the police broke up the rally with mace and billy clubs. After the mayor threatened to fire every one of the striking workers and a local court issued an injunction against any further demonstrations, the union’s leaders called on Dr. King to visit Memphis.

King’s famous "I Have a Dream" speech on the steps of the Lincoln Memorial. The soaring oratory was heard by millions. But if King’s voice carried that day, it was no thanks to his corporate sponsors, for he had none. Rather, the thanks went largely to the United Auto Workers, the union that supplied the microphones and paid for the electricity, funding most of the logistics of the march. Walter Reuther, the head of the auto workers’ union, was on the platform along with King and the real instigators of the march. For although King was the final speaker on the rostrum, he was not the chief organizer of that massing of humanity. The March on Washington for Jobs and Freedom, as it was officially called, was largely the brainchild of the labor leader A. Philip Randolph.

In their effort to lay claim to King, much as generations of politicians strove to “get right with Lincoln,” conservatives have presented an ahistorical portrait of him as an absolutist on the question of race and public policy. By their estimation, King’s “I have a dream” speech should be taken literally: He espoused a civic order where governments made no distinctions between citizens based on race. Hence he would have opposed compensatory set-asides, quotas, or timelines and targets aimed at redistributing jobs and economic resources.

The problem with this version of history is that it ignores much of what King said. In his book Why We Can’t Wait, he wrote that “no amount of gold could provide an adequate compensation for the exploitation and humiliation of the Negro in America down through the centuries. Not all the wealth of this affluent society could meet the bill. Yet a price can be placed on unpaid wages. The ancient common law has always provided a remedy for the appropriation of the labor of one human being by another. . . . The payment should be in the form of a massive program by the government of special, compensatory measures which could be regarded as a settlement in accordance with the accepted practice of common law. . . . I am proposing, therefore, that, just as we granted a GI Bill of Rights to war veterans, America launch a broad-based and gigantic Bill of Rights for the Disadvantaged, our veterans of the long siege of denial.”

Critically, he envisioned these broad-based, public-sector compensatory programs as targeting both African-Americans and poor whites, whom he labeled the “derivative victims” of slavery and Jim Crow. In this regard he leaned on the writings of W. E. B. Du Bois, who famously observed that poor and working-class whites gained nothing from Jim Crow but the psychological “wages of whiteness.” In return for the psychological boost that “whiteness” gave them, poor whites—millions of them, from slavery times through the modern age—surrendered political and economic power to their elite counterparts. King might well have been thinking of the radical white writer Lillian Smith’s 1943 parable, “Two Men and a Bargain,” in which “Once a time, down South, Mr. Rich White made a bargain with Mr. Poor White. . . . You boss the nigger, and I’ll boss the money.” According to Smith, they “segregated southern money from Mr. Poor White and they . . . segregated the Negro from everything.”

Smith’s reasoning—and King’s—was well-founded. Jim Crow divided white and black labor against each other, stunting the growth of unions, labor parties, and liberal political coalitions. Jim Crow thus drove down wages across the board and secured a political system (chiefly in the American South) where taxes were regressive, public services were minimal, and political participation was sharply limited. Remember that on the eve of World War II, poll taxes in eight Southern states disenfranchised as many as 64 percent of white citizens and virtually all eligible black voters. It’s hard to say what most working-class whites got from Jim Crow other than the satisfaction that they weren’t black.


See:

Working Class

Afro-Americans





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Blogger Beta


So I tried to set up my blog under the New Blogger Beta and everytime I do I can't get in. So WTF is the problem. Well communications of course because nowhere does Blogger tell me this little vital piece of information.....

However, the new features will only be available to users who log in using a Google account, not their Blogger account, and only a small percentage of users will be invited to switch their accounts over initially, Google said: "If you're one of them, you'll see a blue box in the sidebar of your dashboard highlighting the new version of Blogger."

Well duh. Nice of you tell PC World but not your users.

See:

Blogspot




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Rent Controls

Housing is a human right, like food. They are essential to our survival. Under capitalism they are not a right but just commodities to be traded for profit. In Alberta the boom is a bust for most of us trying to find a place to live.

When the market goes crazy and decides that housing is an investment, rather than an essential human need, then the state needs to step in and control the market. And it can begin with rent controls and expand to other curbs on the speculative market. People are not buying homes to live in but are flipping properties in order to make a profit. As Proudhon said about the Real Estate market; Property is Theft.

In Alberta the overheated housing market is creating wealth for the few at the expense of the majority. When builders find it more profitable to build condos (the ultimate profit making scheme, where you own an apartment and continue to pay rent on it!!!) than apartment buildings, then rent controls are required to balance the market place for the good of the working class.

House prices will climb 15%

For many, condos now only affordable option

Goatcher predicted that rents, after rising 10 per cent in 2006, will climb another 12 per cent in 2007 because of low vacancies. "It's pretty disappointing. The number of starts has dropped off because of costs. Pratt pointed out that "increases in price have made housing unaffordable to a large group of people."

This problem has been compounded by redevelopment, she said.

"In some cases the value of the land under rooming houses and slum housing has increased to the point where the owner can redevelop," she said.

"This removes housing stock for the socially disadvantaged and chronically poor portion of our population."


A homeless man who was given a $287 ticket for trespassing after using a shopping centre's restroom after hours wants to know what he should have done instead.



See

Downside of the Boom

The Other Alberta Boom





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Bourqued


The payola for headlines scandal has had the Canadian political blogosphere all in a tizzy for the past few weeks, since it was revealed that Pierre Bourque uses his news site/aggregator to plant paid for headlines.

Now its made the national news.

Headlines on Internet news sites can be bought

For a very outspoken guy who comments on his site and in his headlines with political comments he was nowhere to be found to answer the reporters questions.

Now Bourque is his own headline...Except on his own site....People who live in glass houses.....

BOURQUE NEWSWATCH - TOMORROW'S NEWS NOW !

"Canada's Matt Drudge" - Pierre Bourque's webservice is a source for breaking political news and gossip.

Your Ads Buried In The Paper ? Press Releases Chucked In Blue Box ?
Blame Your Ad/Pr Agency !
... Contact us now ..."


More comments on this latest Bourque story here.....and as of this edit, 8 am MDT Bourque has still not added the news story about him to his front page.....


See

Media Bias

Payola



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More Criminal Capitalists


File this under business as usual......

$78 million payday, $75,000 fine
Slap on the wrist in fund scandal bodes ill for investors

-- As a mutual fund shareholder, you wanted to believe there would be no more scandals, that the bad guys had been caught, would be punished and that the worst was over. You'd have been better off believing in the Tooth Fairy.

An agreement reached last week between former Putnam Investments top dog Lawrence Lasser and the U.S. Securities and Exchange Commission shows all too clearly why "minor" scandals will keep happening in the business for years to come

That's an ugly conclusion to draw about the business, but it's the logical supposition in light of the Lasser deal, which scarcely drew a headline when it was made public.

Lasser is the only fund company executive charged so far with fraud for authorizing payments to brokers for preferential sales treatment. Putnam paid $40 million to the SEC in 2005 to clear up charges that it never told fund investors or directors that it was paying for "shelf space," or the chance to have brokers make the firm's funds more of a sales priority.

These "revenue-sharing" deals are fairly common, and Putnam is far from alone in being targeted by regulators. Yet in virtually every other case where firms face charges over revenue-sharing deals, it's the business with money on the line; individuals are pretty much ignored.

Broaden the scope to other nefarious activities, and you'll find that the only times executives were named -- such as Dick Strong of the Strong funds agreeing to a huge settlement with regulators -- was when they were directly involved in allowing rapid trading and circumventing fund rules; without that kind of direct link, however, most actions have been against the business rather than individuals.

The Lasser case was seen as a step up in enforcement, a sign that regulators wanted top managers to know that their necks are on the line. Forget about it: The settlement amounted to $75,000, a one-fingered slap on the wrist.

How inconsequential is that amount to Lasser? Consider that when he left Putnam, his severance package was worth $78 million, and that the company agreed to pay his legal fees. The settlement is less than one-tenth of one percent of Lasser's out-the-door money, never mind the tens of millions of dollars he earned running the company.


And file this under there's a sucker born every minute......


He's 25, a CEO, and on the run

Police accuse Oakville man of $8M fraud

At just 25, Adam Spencer was president and CEO of an upstart information technology company and a motivational speaker, but his real job was fleecing scores of investors of $8 million and then disappearing with their cash, police allege.

"The long and short of it is I invested a bunch of money with a few other fellows and we got taken to the cleaners," said Peter Leupen, who invested $80,000 in Spencer's company, Emexis Integrated Solutions Inc.

All bought in to Spencer's "slick" sell and lofty business plan that promised investors hefty returns on their money once he took his private company public. "Certainly, he talked a great story," said Leupen, who is in media sales.

No one suspected that the recent university graduate living with his parents in Oakville had concocted a "sophisticated fraud," according to one of several lawsuits filed against the former Queen's University student who is wanted on a Canada-wide warrant for fraud.

Police allege between September 2005 and May 2006, investors bought shares in Emexis at 50 cents each with the option to purchase an equal number of shares at 75 cents with a view to taking the company public. But Spencer told them later he had changed his mind and it would remain a private firm. To compensate them, he said he would buy back all their shares for $1 apiece. But that never happened and the money collected was never returned.

At one point last year, Leupen received an email from one of the company's three vice-presidents telling him his money was with the CIBC but that the "delay was simply unavoidable in light of Enron."

The bookish young man, who has delivered lectures to entrepreneurial conferences at his alma mater, attended a 2004 conference in Washington, D.C., where he addressed a forum that brought together "thought leaders."

It appears he had been living the high life, hobnobbing with race car drivers and spending his summer weekends cutting through waves in his $120,000 Mastercraft X-Star boat. Property records show that he and his parents, John and Elizabeth Spencer, bought a $1.7 million home in Oakville last January, just months before investors started asking questions about where their money was. He drove a Mini Cooper, which had a lien against it for $45,000.


See

CEO

Stock Options
Corporate Crime

White Collar Crime


Criminal Capitalism




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The Cost of War Update

By the time you finish reading this article the United States will have spent $1 million dollars in its war on Iraq.

Besides the human costs which the administration has ignored for three years and is only now being confronted with by a Democratic congress and Senate, the other question is what is the cost to the U.S. economy.

As GB Shaw once said; "
Self-sacrifice enables us to sacrifice other people without blushing."

For sure it has increased the U.S. debt and its reliance on China to bouy the dollar, ironic that, Red China keeps the US in the Black.

Well leading economists can't figure out if the war spending is a good thing or a bad thing.

But that should be no surprise since as GB Shaw also said," if you laid all the economists in the world end to end you would still not come to a conclusion."

War is of course good for business, and that is the health of the State, as Randolph Bourne said. But just as Bush's call for Iraqization of the war harkens us back to the seventies and Vietnamization, so does the economic costs of the war.

And this article is a repeat of one that appeared earlier last year. So since April of 2006 the same folks still can't figure out what the heck the economic impact of the war is. Now that should leave us all feeling confident in the economic policy wonks in the U.S.

Along these lines, economists see faint echoes from the Vietnam era, when the Fed tried to slow the economy fueled by the war against Hanoi and by President Lyndon Johnson's Great Society programs.

This overheating was a factor in the sharp run-up in inflation in the 1970s.

"The longer this goes on ... the more closely it resembles the inflationary push that we saw in the latter part of the 1960s," said Diane Swonk, chief economist at Mesirow Financial.

Economists say it's very difficult to get at the war's economic fallout. The most complicating factor is that the military is spending much of the money overseas, which doesn't benefit the U.S. economy, said Bob Parker, a former chief statistician for the Bureau of Economic Analysis.

He said he has no doubt that the war is simulative on the home front, but measuring it remains elusive.

Smith said the war impact is "highly concentrated in a few industries and few locations," especially around major military-staging areas like Fayetteville, N.C., Jacksonville Fla., and Norfolk Va.

Companies like Halliburton Co. and Bechtel Group Inc., the privately held construction firm, have also benefited, Smith said.

Some economists who oppose the war believe it's hurting the economy in insidious ways.
The government's growing issuance of debt underlying increased military spending ordinarily might have led to higher interest rates, but Chinese purchases of U.S. dollars has helped to keep rates low.

"The problem of the war was it was so easy to finance, if that is a problem," said Robert Brusca, chief economist at FAO Economics.