Lawsuit Charges ‘Sewer Service’ Fraud by New York Debt Collectors – NYTimes.com

You know this goes on. Debt collectors to go court and LIE about having served notice. All fine Republicans, I’m sure.

Lawsuit Charges ‘Sewer Service’ Fraud by New York Debt Collectors – NYTimes.com.

Filed under: Economy

Spirits not so bright this holiday season — latimes.com

If you don’t think the economy is bad, read this. Liquor sales are in the tank.

Spirits not so bright this holiday season — latimes.com.

Filed under: Economy

JUDGE SIDES WITH LANGSTON IN VERIZON TRADE SECRETS CASE (UPDATED)

Roby Brock files an extended report on this story, which is linked below. In summary:

U.S. District Judge James Moody sided with former Alltel and former Verizon executive Lewis Langston, who now serves as CIO of Allied Wireless Communications, in a case brought by Verizon seeking an injunction order against his employment.

This is just a raw nerve with me. It is so typical in radio that so-called management comes to believe that they own employees in the same way that plantation owners of the 19th. century owned slaves. They destroy the opportunities which have been rightfully earned. Those are hard fought chances for economic betterment. The kind of tactic employed by Verizon is a form of economic murder.

We don’t mind firing people for any kind of whim and so-called non-compete agreements can be used to threaten less sophisticated people who just don’t know any better. That type of strategy is also used to constrain market competition by keeping talent tied up and unable to work if they should quit.

I am reliably informed that, once upon a time (and it may continue today) Clear Channel had a clause in the pile of papers they put in front of people when they take a job that says the employee will not go to work for somebody else in the market AND that the employee does not depend on the radio job to make a living.

I ain’t making this up.

This I can say because it has been litigated and subject to state laws. It was at one time a Citadel practice to place in the non-compete clause that the employee of a local station could not go to work for the competitor of any Clear Channel station in any market. I don’t think they do that any more.

Just so you know, I never signed a non-compete at Snider of Citadel when either owned KARN. I did sign a non-compete at Signal Media, but there has never been any conflict over that agreement. ” Signal was very fair about that.

It is, however, true that broadcasters sometimes LIE about whether or not an air talent is under contract.

This time of year I think of my friend Bob Harrison, who died on December 22, 2005. His problems started with a radio non-compete. It was a contract he had no idea was ever entered into. Yep, Bobby should have been smarter.

Human beings need to work and they ought to be permitted to work in their accustomed professions with a little bit of dignity. Again, it you take away somebody’s right to work, you have as good as murdered them.

There I go! It’s not that I am taking up for some Allied fat cat. They guy in this case is probably sitting on a ton of dough. (Heck, people THINK I’m sitting on a ton of dough! All I’ve got is a ton of bills and I’d really like to find a second part-time job.) It’s the principle of the thing. Businesses do not OWN the human beings that keep them going. We got past that in 1865.

Our business decisions have actual consequences on the lives of other people. We are our brother’s keeper.

There, I feel a little better. Take time to appreciate your family and friends. Cherish every single one and every breath you take. Merry Christmas.

JUDGE SIDES WITH LANGSTON IN VERIZON TRADE SECRETS CASE (UPDATED).

Filed under: Arkansas, Commentary, Economy, Pat Lynch

Banks That Bundled Bad Debt Also Bet Against It – NYTimes.com

The New York Times has a fine analysis on the shady practices of financial institutions. I deal indirectly with this issue in next Monday’s column in the Dem0crat-Gazette.

While the investigations are in the early phases, authorities appear to be looking at whether securities laws or rules of fair dealing were violated by firms that created and sold these mortgage-linked debt instruments and then bet against the clients who purchased them, people briefed on the matter say.

One focus of the inquiry is whether the firms creating the securities purposely helped to select especially risky mortgage-linked assets that would be most likely to crater, setting their clients up to lose billions of dollars if the housing market imploded.

Banks That Bundled Bad Debt Also Bet Against It – NYTimes.com.

Filed under: Economy

Sen. Lincoln trys to make up for the lack of Social Security COLA in 2010

Blanche Lincoln is working overtime. (Kinda’ like Lyncho the student.) Here is her latest.

Lincoln legislation would help the estimated 637,000 Arkansans who will not receive Social Security Cost of Living Increase in 2010

Lincoln report shows economic impact of $250 payments in each county

Washington – U.S. Senator Blanche Lincoln (D-Ark.), Chair of the Senate Finance Committee’s Social Security Subcommittee, today introduced comprehensive legislation to help Arkansas’s seniors who face no annual cost of living increase from the Social Security Administration and rising Medicare premiums.

Cost of living adjustments are tied to the Consumer Price Index to protect the purchasing power of our seniors and to ensure their benefits keep pace with inflation.  The index declined this year due to the weakening of the economy.  As a result, Social Security payments for 2010 will not include a cost of living adjustment for an estimated 637,000 Arkansas seniors, veterans, and people with disabilities.  Approximately 130,000 Arkansas seniors rely on Social Security as their only source of income.

Of the 637,000 Arkansans who will not receive a cost of living increase, more than 100,000 of them will also pay more for their Medicare Part B premiums, which are rising for 2010.  Current law states that most Medicare beneficiaries do not have to pay the increased premium in any year in which they do not receive a Social Security cost of living adjustment (COLA).  However, this law does not cover about one-fourth of Medicare beneficiaries who will be forced to pay the premium increase, estimated in Arkansas to be more than 100,000 people.

“For Arkansans on fixed incomes, the absence of an increase in Social Security benefits is extremely difficult,” Lincoln said.  “Faced with the ever-increasing costs of health care, prescription drugs, energy and transportation that make up a disproportionate part of spending for seniors, they are also burdened with declining pensions and home values. I believe in the promise our government made to working Americans, that if we work hard, Social Security will be there to help us in our golden years.  As Chair of the Senate Finance Committee’s Social Security Subcommittee, I will continue working to ensure that our seniors are not hit hardest by what would essentially be a cut in benefits, especially during times of economic hardship.  I also believe we can do this in a fiscally responsible way that does not increase the deficit or negatively impact the Social Security program for current or future beneficiaries.”

This legislation will be paid for with funds available through the Troubled Asset Relief Program (TARP).

Lincoln’s legislation would:

1.      Provide $250 economic relief payments that would compensate Arkansans for the lack of a Social Security COLA increase.  These payments would bring an estimated $160 million into Arkansas’s economy, helping an expected 637,000 Arkansans.

2.      Ensure that Medicare beneficiaries do not see premium increases that would subsequently result in a decrease in their Social Security benefits.

3.      Require the Bureau of Labor Statistics (BLS) to assess the merits of a price index that more accurately reflects true inflation for the elderly by taking into account their unique spending trends. The BLS would also be required to report to Congress on whether this index could or should be tied to the COLA for Social Security beneficiaries.

READ Senator Lincoln’s county-by-county report detailing the number of Arkansans who would benefit from the $250 economic relief payments, the resulting economic impact on each county, and the number of Arkansans in each county who would be hit by rising Medicare premiums.

§  In Central Arkansas, over 129,410 Arkansans would receive approximately $32.4 million in one-time payments.  Approximately 25,000 Central Arkansans will pay more for Medicare Part B.

§  In Southeast Arkansas, over 67,145 Arkansans would receive approximately $12.5 million.  Approximately 16,000 Southeast Arkansans will pay more for Medicare Part B.

§  In Southwest Arkansas, over 80,330 Arkansans would receive approximately $19.3 million.  Approximately 16,000 Southeast Arkansans will pay more for Medicare Part B.

§  In Northeast Arkansas, over 128,904 Arkansans would receive approximately $33.2 million.  Approximately 26,000 Northeast Arkansans will pay more for Medicare Part B.

§  In Northwest Arkansas, over 194,630 Arkansans would receive approximately $47.7 million.  Approximately 37,500 Northwest Arkansans will pay more for Medicare Part B.

Filed under: Economy, National politics

Gordon Brown: A Clear Agenda for Reform in 2010

It’s something to consider. Of course, in the United States, the concept of international cooperation is dead on arrival, so the survivalists are probably right.

Gordon Brown: A Clear Agenda for Reform in 2010.

Filed under: Commentary, Economy

Verizon Sues Ex-Alltel Employee Over New Job with Allied – ArkansasBusiness.com

I have strong feelings about this kind of things. Damn it. People have a God-given right to work and NOBODY, not even high and mighty corporations, should get in the way of that. Include non-competes, and so-called “trade secret” laws in this mess. My opinion of Verizon just went to ZERO.

Furthermore, there are going to be THOUSANDS of unemployed Altell people in Little Rock. If they were so damned irreplaceable and sensitive, then – DAMN IT – Verizon should not have fired them.

Verizon Sues Ex-Alltel Employee Over New Job with Allied – ArkansasBusiness.com.

Filed under: Economy, Little Rock

Customers Place Acxiom in Top Ranks of Background Screeners – FOXBusiness.com

What is billed as the largest customer satisfaction survey in the employment screening service industry ranks Acxiom(R) Corporation (Nasdaq: ACXM) in the top echelon of companies that help keep organizations safe and secure through background screening.

Customers Place Acxiom in Top Ranks of Background Screeners – FOXBusiness.com.

Filed under: Economy, Little Rock