This Week in the Mercury
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Thursday, February 9, 2012
$$$ / Busey! Gary Busey Files for "Butt-horn!"—I Mean, "Bankruptcy"
Posted by Wm.™ Steven Humphrey on Thu, Feb 9, 2012 at 9:44 AM
Guys! Gary Busey is filing for bankruptcy! From the AP:
The actor and reality show star does not state a reason for the filing. His manager Ron Sampson wrote in a statement the filing provides Busey "a new and clear path" to personal and career success.The filing states the 67-year-old has less than $50,000 in assets.
I have no reason for blogging about this other than to repost this video... AND RE-POST IT I SHALL!
That scene is worth more than all the gold doubloons in the world.
Wednesday, February 8, 2012
$$$ / Conflict of Interest / Music CD Baby Had a Surprisingly Good 2011
Posted by Ned Lannamann on Wed, Feb 8, 2012 at 12:29 PM
Monday, January 30, 2012
$$$ / Occupy Freddie Mac Bets Against America
Posted by Goldy on Mon, Jan 30, 2012 at 10:59 AM
It is easy to argue, post real estate bubble, and all the stupidity and excesses revealed in its aftermath, that lending standards should be tighter. But... well...
[P]ublic documents show that in 2010 and 2011, Freddie Mac set out to make gains for its own investment portfolio by using complex mortgage securities that brought in more money for Freddie Mac when homeowners in higher interest-rate loans were unable to qualify for a refinancing.Those trades "put them squarely against the homeowner," PIMCO's Simon says.
Freddie Mac's trades came at a time when mortgage rates were falling to record lows. Millions of homeowners wish they could refinance, but their lenders tell them they can't qualify for today's low rates because of tight rules. Freddie Mac is one of the gatekeepers with the power to set those rules, and lately, it has been saying no more often to homeowners.
So there you have it. Freddie Mac, whose partial mission is to "expand opportunities for homeownership," is making money by betting against high-interest rate homeowners being able to refinance at lower rates, at the same time it is making it more difficult for these homeowners to do so.
And you wonder why so many middle class Americans believe the system is stacked against them?
Monday, January 16, 2012
$$$ / Puppy / Video Ding
Posted by Erik Henriksen on Mon, Jan 16, 2012 at 2:55 PM
This is an ad for Hill's Garbage Service in Hendersonville, North Carolina, made by Rhett and Link. I have watched it three times in the past 10 minutes.
Thanks to Katie for the heads up!
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Wednesday, January 4, 2012
$$$ / Politics Obama to Name Consumer Protection Chief While Congress Is Out of Town
Posted by Eli Sanders on Wed, Jan 4, 2012 at 9:59 AM
President Obama will challenge Senate Republican foes of the newly created Consumer Financial Protection Bureau by naming Richard Cordray as its director while Congress is out of town, according to a senior administration official.That would allow the agency to establish new regulations over financial institutions, putting into effect elements of the financial regulatory overhaul that was one of the administration’s main achievements in Congress.
Tuesday, December 27, 2011
$$$ Walmart's New "Eco-Roof": How Does This Make You Feel?
Posted by Wm.™ Steven Humphrey on Tue, Dec 27, 2011 at 10:29 AM
We just received an email from Walmart to inform us that their new Hayden Meadows store will include a vegetated "40,600-square-foot ecoroof" designed to decrease runoff, and save energy. Says the press release:
"Walmart’s green roof not only meets the city of Portland’s internationally recognized sustainable stormwater treatment requirements, it is also one of the largest privately developed living roofs on a retail building within the city. We are proud that Portland will have this designation,” said Steve Restivo, Walmart Senior Media Director, Community Affairs.
Okay... how does this news make you feel?
Tuesday, December 20, 2011
$$$ AT&T Leaves T-Mobile at the Altar
Posted by Paul Constant on Tue, Dec 20, 2011 at 11:14 AM
The New York Times reports:
AT&T said late on Monday afternoon that it had withdrawn its $39 billion takeover bid for T-Mobile USA, acknowledging that it could not overcome opposition from the Obama administration to creating the nation’s biggest cellphone service provider.The company said in a statement that it would continue to invest in wireless spectrum, but could not overcome opposition by both the Justice Department and the Federal Communications Commission. It added that American wireless customers “will be harmed and needed investment will be stifled” by the regulators’ decisions.
I'm going to have to disagree with AT&T: This is great news for cell phone users. It's nice to see the U.S. Government stretching some of those anti-monopoly muscles. Let's hope this is just the appetizer for some new consumer-protection measures from the Justice Department and the FCC in the near future.
Monday, December 19, 2011
$$$ / Election 2012 / Books Cogen Won't Push for Library District Next Year
Posted by Denis C. Theriault on Mon, Dec 19, 2011 at 9:14 AM
Though it may mean cutbacks for Multnomah County's highly decorated library system, County Chairman Jeff Cogen on Friday told library employees on Friday he won't push to create a tax-revenue-raising library district next year.
Instead, blaming a dour mood among voters who might face a sizable tax hit, he'll wait two more years to push for a district and ask voters, for the next three years, to just renew the temporary tax levy they've already been paying. And that means cutbacks. The library system has already been drawing from the county's own dwindling reserves to make ends meet in recent years.
"In a time of continuing deep job losses, stagnant wages and economic uncertainty, Multnomah County residents feel financially strapped," Cogen wrote to employees in an email that was later forwarded to the Mercury. "The willingness of most of our residents to pay any additional taxes, even for such a cherished and vital service, simply does not exist."
Property taxes make up the bulk of the library's funding. Cogen says no branches will close but that some locations will have their hours reduced or see layoffs. That may wind up enraging union leaders, particularly in AFSCME, which represents a fair number of library workers.
County commissioners are expected to vote on Cogen's recommendation January 5. The Oregonian, which wrote an editorial this weekend on the subject, kinda/sorta blesses the plan, but also says it's time for voters to pony up with permanent funding.
Someone who might be happy about all this in spite of himself? Mayor Sam Adams. Because of Oregon's byzantine property tax laws, a library district—instead of just a library levy—would wind up costing Portland's general fund millions of dollars.
Update 10:30AM: Katie Lane, chairwoman of the Multnomah County Library Advisory Board, offers some context on the tax increase Cogen is shying away from, as well as on layoffs. How much will the average tax bill go up? $52 a year, she says, based on the average assessed value of county homes: $178,480. And what about layoffs? Lane says they could amount to 80 to 100 positions, based on county estimates. That's about 20 percent of current library staff.
Lane also says the hit to Portland's budget from a district wouldn't have to be as bad as advertised. Creating a library district would free up some $8 million in county general fund money for other priorities—meaning the county could step in (now I'm riffing here) and pay for social services programs like Hooper Detox that the city currently finds itself funding.
Cogen's full letter is after the cut.
Monday, December 12, 2011
$$$ / Hillbilly / TV Lowe's Commenters Make Oregonian Commenters Look Like Commie Pinkos
Posted by Wm.™ Steven Humphrey on Mon, Dec 12, 2011 at 2:44 PM
As you may have heard, Lowe's (the big box hardware store) has pulled their advertising from a TLC show titled All-American Muslim—a reality program about a family of Muslims in Dearborn, Michigan who (surprise!) are just like you and me. And while Lowe's has taken a significant amount of justified crap because of their myopic decision (based almost entirely upon pressure from the Christian right), at least they have the support of their hillbilly clientele. Here are just a few examples of comments from their Facebook page:
via
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$$$ / Mercury Pioneer Place Money Saving Tip: Use Mercury as Toilet Paper!
Posted by Wm.™ Steven Humphrey on Mon, Dec 12, 2011 at 10:14 AM
A big thanx and a tip o' the hat to loyal Mercury reader "Peace Huntress" (Sounds like a spinoff of Xena: Warrior Princess—and YES, I would watch it!) who made and sent in the following video. PH says she took the vid on Friday night as she was visiting the ladies room at Pioneer Place, alerting us that "the Portland Mercury was torn in the shape of toilet paper and placed on the toilet paper dispenser thing." Hmmm... Apparently someone doesn't appreciate our fair-minded Occupy coverage. Watch.
Now first of all, I'm pretty sure that Pioneer Place did not authorize that use of our paper, because a) they would've done a much nicer job with the typography, and b) would prefer it if their customers wiped their ass with the higher end Portland Monthly.
Secondly, while this is a great money saving idea, I would really encourage "supporters of the 99%" to NOT use the Mercury as toilet paper. I've tried it—especially after reading a certain Mercury review that erroneously claimed Love Actually is "a perfect film"—and the texture is too rough, and ink got all over my anus. (I just bleached it last week!)
Thirdly, the person who perpetrated this is wonderful. Thanks for reading and caring, toilet paper maker!
Friday, December 9, 2011
$$$ / City Hall Parks Releases Ugly, Uglier, and Ugliest Budget Cuts
Posted by Denis C. Theriault on Fri, Dec 9, 2011 at 9:59 AM
On Wednesday, I reported on the latest shoe to drop in what's going to be a budget nightmare for Portland next spring—some $17 million in cuts to the city's general fund. Those are the best case cuts so far, just more than 4 percent. In case things get worse, Mayor Sam Adams has also instructed bureaus to prepare for 6 percent and even 8 percent cutbacks.
Yesterday, the Bureau of Parks and Recreation was the first city office to release own doomsday cutback plans, and it's not pretty. Even in the lightest scenario, portable toilets would replace park restrooms (just like at Occupy Portland!), Buckman Pool would close, and so would one community center. Layoffs appear to be in the worst-case plan.
Here's the chart.
A statement from Parks is after the cut. There's going to be a big meeting to talk about what's good and bad—and because Parks is one of those budgets that EVERYBODY cares about, for several varied and equally valid reasons, I suspect it'll be packed.
Wednesday, December 7, 2011
$$$ / City Hall Early Figure for City Budget Cuts: $17.4 Million
Posted by Denis C. Theriault on Wed, Dec 7, 2011 at 11:14 AM
The city's budget office delivered a blunt confirmation (pdf) of Mayor Sam Adams' "grim" warning back in October: To balance the city's budget over the next five fiscal years, the Portland City Council next spring will need to find $17.4 million in ongoing cuts.
Worse, starting next spring, for the 2013-14 fiscal year, a pool of one-time money that the city for years has used to fund ongoing social services and housing programs, among other things—the so-called "shadow budget"—will also need to vanish.
Noting that safety-net programs are "disproportionately" funded by one-time cash, Commissioner Nick Fish said the council will need to make "Hobbesian choices" pitting even deeper cuts to bedrock services like parks and streets and public safety against cash for housing inspectors, homeless shelters, mental health counselors, and more.
"We're coming to a point when that may not be sustainable," Fish said (also, I think he meant "Hobson's Choice.")
Monday, November 28, 2011
$$$ Cyber Monday is a Scam & Shoppers Aren't Heroes
Posted by Sarah Mirk on Mon, Nov 28, 2011 at 4:32 PM
The way mainstream media has been framing their stories about holiday shopping is as if shoppers are heroes pumping much-needed money into the economy. America is in shambles! People buying flatscreen TVs on sale are our only hope! The loaded language is all over: In the New York Times', a discount handbag site is an "underdog"; on NPR, Black Friday shoppers are "warriors"; in the San Jose Mercury News, strong sales are "Black Friday cheer"; on MarketWatch, Black Friday spending "gives the season hope".
Thousands of Americans spending millions of dollars on discount electronics and handbags isn't called hope. It's called massive debt. Putting a positive spin on the gluttony of holiday spending is like calling six courses of cake a reasonable meal.
According to TIME magazine, 13.6 million Americans hadn't paid off 2009's holiday spending spree by the time 2010's holidays rolled around. Only 13 percent of people say they've been saving money all year to pay for holiday gifts, so it's no surprise that of the people who are actually responsible enough to make a budget for holiday shopping, 39 percent overspent their planned budget. This is what's wrong with our economy in the first place—people, companies, and institutions overspending, then winding up crushed under debt. What if we discussed holiday sale shopping not as an act of heroism but a sad, desperate act of addiction?
Just like there's nothing wrong with eating a some cake once in a while, there's nothing wrong with spending a sane amount of money at businesses worth supporting—in my book, that's locally rooted businesses who treat their workers ethically. Otherwise, you're just scamming yourself and your community.
Friday, November 25, 2011
$$$ / Horrors This Is What Naked, Striving, Ugly Humanity Looks Like
Posted by Denis C. Theriault on Fri, Nov 25, 2011 at 4:02 PM
YouTube has a growing and phenomenal collection of Black Friday pandemonium videos from Wal-Marts all across the nation. I've pasted a couple of them here for your own amusement/revulsion. Until I looked a bit more closely at them, I kept thinking they were all the same video of the same redneck riot at the same Wal-Mart. And, in a way, I'm still totally right.
This first one, a melee for $2 waffle irons down in Arkansas, went ebola viral today. No wonder people brought their own goddamned pepper spray. (Dare! Listen to all four videos at once and then take an IQ test! How did you do?)
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$$$ This Is a Case of Government Doing Exactly What It Should Do
Posted by Paul Constant on Fri, Nov 25, 2011 at 3:29 PM
I would just like you to take a moment to appreciate the news that came out yesterday about the AT&T/T-Mobile merger being, basically, quashed by the federal government:
Espirito Santo analysts said AT&T's decision to take the $4 billion charge this quarter showed the company's own assessment of the chances of success had fallen, causing its auditors to force the company to take the hit now."It tells us something about timing too — suggesting that AT&T may decide to walk away at the first opportunity (March 20, 2012) rather than waiting for the ultimate September 20, 2012 deadline," they wrote in a note to clients...The FCC said the merger would result in a massive loss of U.S. jobs and investment, and significantly diminish competition, while the DOJ said it would lead to higher wireless prices for consumers and businesses.
I think the FCC and the DOJ should have stepped in a while ago to keep the number of national cell phone providers above four, but I'm grateful that they're doing something now. If the feds had engaged in this kind of monopoly busting over the last twenty years with bank mergers, the economy wouldn't be hurting as badly as it is right now. A large part of the government's role is to protect us from business run amok; I'm glad to see that the government is starting to remember that.
Thursday, November 24, 2011
$$$ / Occupy Blogtown Coverage of Occupy Black Friday... TOMORROW!
Posted by Wm.™ Steven Humphrey on Thu, Nov 24, 2011 at 1:29 PM
For those who actually have to work for a living tomorrow, be sure to drop by Blogtown throughout the day for continuing up-to-the-minute coverage of Occupy Black Friday! Sarah and Denis will be all over it (as usual) and providing their always thoughtful and accurate squirts of the latest news. For a good roundup of tomorrow's Occupy Black Friday events, go here, and if things really heat up and you simply can't wait for their blog posts, follow Sarah and Denis on Twitter here and here!
Tuesday, November 22, 2011
$$$ / Occupy Hooray for the Banks!
Posted by Paul Constant on Tue, Nov 22, 2011 at 3:29 PM
Reuters says we're in the money!
U.S. bank earnings reached a more than four-year high in the third quarter, but regulators are warning that the industry faces challenges that include the risk of the European debt crisis washing up on U.S. shores...On Tuesday, the FDIC released its latest quarterly report, which showed that the industry had earned $35.3 billion (22.6 billion pounds) in the third quarter, the most since the second quarter of 2007.
Well, we're not in the money, but, you know, it'll trickle down eventually, I'm sure. Just imagine how much money these banks would be making if they didn't have to deal with the government's skanky-ass regulations.
Friday, November 11, 2011
Theater / $$$ / Occupy / Artsy Opera for All! No, Seriously!
Posted by Ned Lannamann on Fri, Nov 11, 2011 at 3:27 PM
- ©2010 David Bachman, courtesy of Portland Opera
In my review of the Portland Opera's production of The Marriage of Figaro, I neglected to mention anything about the City of Portland's excellent Art for All program, making productions like Mozart's farcical opera available to anyone. I'll let reader Jacob Clary explain it, as he did in this email sent to the Mercury:
Something you failed to mention in your review of The Marriage of Figaro, which pitted the bedraggled occupiers against the rich operagoers: they needn't necessarily be separate. Tickets are $5 apiece for EBT card-carriers, and two tickets can be purchased per EBT card. Last night I sat in the 3rd row of the orchestra section, a $5 ticket (actually two: my ticket and my date's were bought on her EBT card) next to $100+ seats. Not to denigrate those involved in the Occupation movement (I am one of them) but most if not all either have or know someone who has an EBT card. Might I suggest that we of the economically underserved Occupy this cheapest of cheap dates?It's truly a remarkable program; thanks, Jacob, for reminding me. The Marriage of Figaro's final performance is tomorrow night.
Thursday, November 10, 2011
$$$ Holiday Sales For The Cool Kids
Posted by Marjorie Skinner on Thu, Nov 10, 2011 at 12:29 PM
The holiday retail season is officially on, which means the inevitable attempt and probable failure of keeping you abreast of the deals that will pop up over the next couple months is also officially on. Even if you come from one of those hippie families that exchanges only homemade gluten-free oat cakes and sock darning for presents, this is also the time of year when many stores are offloading past-season merch, so keep your eyes peeled for yourself, too. We'll be updating info as it comes in, here and on MOD, so check in often and you may never have to pay full price. In the meantime, here are a few upcoming highlights geared toward a younger, design-savvy set. And Frances May is everywhere.
—Open For Business, Nov 25-27 (11 am-6 pm daily): Curated by OLO Fragrance and Nice Work—a forthcoming new home-goods venture from Alison Hawley, formerly of Frank James—this sale hosted by the Ace is bar far the hippest way to participate in Black Friday. The participants: Antler & Co., AK Vintage, Better Late Than Never, Eric Trine, Fieldwork Floral Operation, Frances May, Hazel Cox, Hammerpress, Im:mortal, Maak Soap, Makelike, Moonwoods, Nice Work, OLO fragrance, Palace, Pigeon Toe Ceramics, Pizza Friday, Tiandra Cummins, Wood & Faulk.
—Give Good Gift: Union/Pine is hosting an eastside holiday pop-up with an impressive roster of participants, Dec 2 (7 pm-midnight) & 3 (11 am-3 pm): Blackbird, Branch and Birdie, Bridge & Burn, Brass Tacks, Etc. Market, Frances May, Nuvrei Patisserie, Pattern People, Stand Up Comedy, Water Ave Coffee, Woonwinkel, Yo Vintage!, and more.
—Sunday Best, Dec 2 (5-9 pm) & 3 (10 am-7 pm) at the Cleaners: Another stellar roster of participants: Anna Joyce Design, B. Hive Designs, better late than never, Camamu, Demimonde Jewelry, Elisabeth Bentz, Hinged Strung Stitched, Kiersten Crowley, Laura Irwin, Misha Ashton, Old School Stationers, PenFelt, Pigeon Toe Ceramics, plainMADE, Satsuma Press, Shanna Murray, Studio Olivine, Tasi Designs, xobruno, and Zanna Printed Textiles.
—Frances May's "Fell off A Truck" Sale, Dec 3 & 4: This downtown favorite for men and women is taking over the vacant space next to Canoe on SW 11th & Alder for a two-day blowout sale of deeply discounted goods from seasons past—not just last season and the season before that, but years deep. This will be amazing.
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$$$ / Occupy KATU Viewers Would Rather Ruin Xmas Than Put Up with Occupiers
Posted by Wm.™ Steven Humphrey on Thu, Nov 10, 2011 at 9:35 AM
Here's a poll that's currently up on the KATU website:
And here are the current results:
Sorry, kids. 60% of you won't be having Christmas this year. I know... let's do our own poll!
Monday, November 7, 2011
$$$ / Occupy Another Way to Look at the Wealth Gap: Young People vs. Old People
Posted by Eli Sanders on Mon, Nov 7, 2011 at 9:58 AM
Obviously, older Americans are going to have more money than younger Americans. That's just how life generally goes—you start with nothing and accumulate personal wealth as you age. Still, the wealth disparity between older Americans and younger Americans is not supposed to be this wide:
The typical U.S. household headed by a person age 65 or older has a net worth 47 times greater than a household headed by someone under 35, according to an analysis of census data released Monday.While people typically accumulate assets as they age, this wealth gap is now more than double what it was in 2005 and nearly five times the 10-to-1 disparity a quarter-century ago, after adjusting for inflation.
The analysis reflects the impact of the economic downturn, which has hit young adults particularly hard.
Occupy mom and dad's! Or grandma and grandpa's! If you're not already...
Friday, November 4, 2011
$$$ / Occupy Chase CEO Thinks You Agree with Him. DO YOU??
Posted by Wm.™ Steven Humphrey on Fri, Nov 4, 2011 at 9:50 AM
As you may have noted, J.P. Morgan Chase CEO and Chairman Jamie Dimon popped into town yesterday to give a little pep talk and pointers to the Portland Business Alliance (Hmmm... how can the rich get richer?) and the peeps at Occupy Portland screamed and yelled at them for awhile, which made everybody really nervous.
Anyway, the Portland Business Journal interviewed Dimon afterward, and asked him what he thought of the Occupy movement.
“I read a tremendous amount. My reaction is not to have a knee-jerk reaction. I agree with some of the points. But indiscriminate blame of everybody is not the right thing for anybody. And I think most people would agree with me if they thought about it for a moment.”
Hmm. Okay. Fine. We'll think about it for a moment.
...
...
...
...
...
...
Moment up yet? No? Okay.
...
...
...
Okay! Moment's up! LET'S VOTE.
Saturday, October 29, 2011
$$$ / Occupy Occupy Portland Marches Against Bank of America
Posted by Wm.™ Steven Humphrey on Sat, Oct 29, 2011 at 3:28 PM
This afternoon around 2:30 pm an estimated 300 Occupy Portland demonstrators met up on the waterfront and marched to the Oregon Convention Center to protest a Bank of America "homeowner outreach" event. Here's how BoA describes their event.
If you are experiencing financial hardship, please register to attend a Bank of America customer outreach event in your area. There, you will have the opportunity to meet in person with one of our specialists to discuss your home loan and any assistance solutions—including loan modification options—that may be available to you.
The Occupy Portland protesters rallying around the front entrance to the convention center called bullshit on that. After minutes of chanting "Banks got bailed out, we got sold out!" their speaker gave the crowd her spin on BoA's shenanigans (repeated by the crowd for maximum effect). For that and more pix, hit the jump.
Thursday, October 27, 2011
$$$ / Politics Junk Mail to the Rescue!
Posted by Alex Zielinski on Thu, Oct 27, 2011 at 11:59 AM
As we all know, the US Postal Service is on financially shaky ground. But have no fear, a plan is in the works.
USPS is running TV and radio commercials nationwide trying to hook businesses into promoting their services via standard mail. Sound familiar? Okay. So it's junk mail. But, according to the Wall Street Journal, the USPS is taking a new stab at the dreaded form of snail mail.
"What we want to do is to make standard mail more interesting for customers so we can grow the total volume," Postmaster General Patrick Donahoe said in an interview with the WSJ. "We don't call it junk mail—it's a lucrative avenue for anyone who wants to reach customers."
Turns out that since the 80s, junk mail has grown as a percentage of all mail. All other forms of mail (standard, first-class) has faced a steady decline. However, junk, or advertising, mail revenue still falls far below its competitors. In the 2010 fiscal year, first-class mail accounted for 50 percent, or $34 billion, of the postal service's total revenue while advertising mail had higher volumes but brought in $17.3 billion, or only 26 percent of total revenue.
I'm interested in how many businesses will catch on to this promotion. At the end of the day, junk mail is junk mail. But if it can save the Postal Service, I'm on board.
Monday, October 24, 2011
$$$ / Music The Red Fang Air-Guitar Battle for World Domination
Posted by Ned Lannamann on Mon, Oct 24, 2011 at 4:05 PM
Flex those fingers and dust off those finest guitar-shred facial contortions, for tomorrow night is the Red Fang Air-Guitar Battle for World Domination, a battle royale of imaginary guitar skills. Red Fang and video director Whitey McConnaughy have put this evening together at Dante's, and they'll be shooting the whole event for the new Red Fang video. In other words, you can join the ranks of Brian Posehn and be part of music-video history.
There will be room for 50 contestants—all the details are here, including sign-up info—but everyone else is free to watch. And there are cash prizes, including $1,000 for first prize (whoa). Take a look at the full details here, plus you can peep the event flyer after the jump. There's more: Beer drinking contests! Ian Karmel hosts! And best of all: There will be live music by two bands. It's a secret, but if you can't guess at least one of them (Whitey coyly hints that their name rhymes with "wang"), you might have been doing a little too much headbanging.
Dante's, 1 SW 3rd, Tues Oct 25, 8 pm, FREE
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