Rupert Murdoch of conservative media fame has a glint in his eye over a merger with the venerable Wall Street Journal. The owner of Fox News, the New York Post and MySpace wants to add the ultimate business icon now owned by Dow Jones & Co. So why does Rupert want The Journal?
A few months ago he annouced Fox would form a business channel as current offerings "aren't conservative or business friendly enough". As the current offering, CNBC has been accused of pandering to business leaders, what will Fox do, give them a massage?
As a newsman, Murdoch knows he needs content to deliver. A dedicated business channel needs alot of material and what better source than the Wall Street Journal? That it already has a relationship with CNBC is even better.
"The Wall Street Journal Report with Maria Bartiromo," is a half-hour weekly nationally syndicated series produced by CNBC in conjunction with the editors of The Wall Street Journal.
Rupert will sever that relationship as soon as legally possible. Will he entice Maria Bartiromo to come over to his side?
Fox will spin free markets and ginormous profits as American as apple pie. They will celebrate Bush's gutting of unnecessary financial regulations implemented after Enron's collapse, cheer as private equity firms cut the NYSE in half, boo every proposed "new tax", and defend defense contractors and big oil's string of record profits as citizens go bankrupt from medical bills.
Just one question Rupert, will the News Corp./WSJ merger be a same sex union as both boards are male dominated?
Sunday, June 03, 2007
Saturday, June 02, 2007
Bush Crams for G8 after RISK All Nighter
After moving the army pieces around the RISK board with his buddies until dawn, President Bush crammed for his G8 midterm test. While he just wants to finish the game of global domination, his role as student of history called. In round robin fashion his buddies armed him with answers to likely questions.
"Sneezle, what should I do about Darfur?" George's eyes pleaded for a reasonable sounding answer.
"Whatever they advised you a year ago."
"I can't remember."
"Poodle Head, what should I do about Iran, I Ran so Far Away?"
The mop haired friend replied, "That would be the band Flock of Seagulls. The lead singer's hair looked like a wedge."
"Good, Iran is a wedge in my pursuit of peacable nations."
"Puke Rainbow, what about global warmings?"
"Just propose something voluntary, like you're doing regarding compliance with SEC regulations."
"Countries should attack global warmings pre-emptively of their own volition."
"Weird Science, how can I deal with AIDS?"
"Wear a condom?"
"How many condoms can you buy for $30 billion dollars?"
"You must be screwing alot of people!"
Bush crammed as the world broke...
"Sneezle, what should I do about Darfur?" George's eyes pleaded for a reasonable sounding answer.
"Whatever they advised you a year ago."
"I can't remember."
"Poodle Head, what should I do about Iran, I Ran so Far Away?"
The mop haired friend replied, "That would be the band Flock of Seagulls. The lead singer's hair looked like a wedge."
"Good, Iran is a wedge in my pursuit of peacable nations."
"Puke Rainbow, what about global warmings?"
"Just propose something voluntary, like you're doing regarding compliance with SEC regulations."
"Countries should attack global warmings pre-emptively of their own volition."
"Weird Science, how can I deal with AIDS?"
"Wear a condom?"
"How many condoms can you buy for $30 billion dollars?"
"You must be screwing alot of people!"
Bush crammed as the world broke...
Why It's Iraq's Time...
The most recent issue of Time magazine shed some light on President Bush's proposed 50 year military presence in Iraq, a la South Korea.
"Only 7% of the world's estimated oil and gas reserves are in countries that allow companies like ExxonMobil free reign. Fully 65% are in the hands of state owned oil companies..."
Meanwhile the Iraq Study Group and the Bush administration push the Iraqi Oil law while the people's representatives obviously drag their feet at efforts to reshape the situation described above.
Once the area is opened for Western oil production, President Bush should hide the just released General Accounting Office report showing the U.S. undercollects oil royalties for offshore production relative to other countries. Is that another hallmark for democracy, giving oil companies multiple breaks?
"Only 7% of the world's estimated oil and gas reserves are in countries that allow companies like ExxonMobil free reign. Fully 65% are in the hands of state owned oil companies..."
Meanwhile the Iraq Study Group and the Bush administration push the Iraqi Oil law while the people's representatives obviously drag their feet at efforts to reshape the situation described above.
Once the area is opened for Western oil production, President Bush should hide the just released General Accounting Office report showing the U.S. undercollects oil royalties for offshore production relative to other countries. Is that another hallmark for democracy, giving oil companies multiple breaks?
Carlyle Gets Doubled!
The Carlyle Group is known for buying companies on the cheap, growing business via government contracts and then doubling their money usually in less than 2 years. CSX Lines which became Horizon Lines is such an example. However, Carlyle's latest acquisition of PQ Corporation provided the seller with a near similar return.
Two private equity firms purchased PQ Corporation in 2005 for $879 million. They announced the deal to sell it for $1.5 billion just over 2 years later. That's a $621 million or 70% profit.
So what does Carlyle see in the company? It's glass engineered products are used in road building and updating. They make reflectors, so keep an eye out for any huge federal purchases in this area.
Another product provides shielding from electromagnetic interference. With electronic pulse weapons not far away, protecting critical electronics will be important. Carlyle has long had the ability to read the federal tea leaves and buy accordingly. Why doubt them now on this transaction?
Two private equity firms purchased PQ Corporation in 2005 for $879 million. They announced the deal to sell it for $1.5 billion just over 2 years later. That's a $621 million or 70% profit.
So what does Carlyle see in the company? It's glass engineered products are used in road building and updating. They make reflectors, so keep an eye out for any huge federal purchases in this area.
Another product provides shielding from electromagnetic interference. With electronic pulse weapons not far away, protecting critical electronics will be important. Carlyle has long had the ability to read the federal tea leaves and buy accordingly. Why doubt them now on this transaction?
Bush Heads to G8 in Bottom Quartile
At least President Bush left Yale with a C average. A series of analyses show the United States not faring well on a number of measures as the U.S. President jaunts to Germany for the G8 meeting.
Peace Index-U.S. is 96th out of 121 countries
Percent of Oil Revenue collected from offshore production-America is 55th out of 61 fiscal systems
Education-U.S. ranks near the bottom of industrialized nations in functional understanding of math and science.
So who's going to represent America with world leaders? Fittingly it's the War President who served on the board of an oil company and regularly derides his capacity to learn. Yes, we can expect more line in the sand drawing followed by saber rattling, more givaways to already recordly profitable oil firms, and the world will get to hear how nuclear became "nukular".
Peace Index-U.S. is 96th out of 121 countries
Percent of Oil Revenue collected from offshore production-America is 55th out of 61 fiscal systems
Education-U.S. ranks near the bottom of industrialized nations in functional understanding of math and science.
So who's going to represent America with world leaders? Fittingly it's the War President who served on the board of an oil company and regularly derides his capacity to learn. Yes, we can expect more line in the sand drawing followed by saber rattling, more givaways to already recordly profitable oil firms, and the world will get to hear how nuclear became "nukular".
Shannon Health System Divorce Continues
After writing an article in our local paper about the now cancelled merger between Shannon Medical Center and Triad Hospitals I received numerous phone calls. One of those informed me of a whistle blower suit brought by employees concerned about "billing irregularities". The anonymous caller delivered a packet of information with "proof" of the lawsuit.
Some of the documents looked like compliance committee minutes from the large multi-specialty clinic owned by the system. While the evidence supported an investigation, it had no final determination. Deep Throat said he would call back with a case number but that hasn't happened.
After the hospital merger failed, Shannon Health System publicly revealed their intent to spin off this physician group. Doctors in the clinic could buy out the assets and accounts receivable from the hospital or they could take a slot in a new Shannon division, an umbrella with essentially a series of solo practices. For the first year the system would guarantee their last year's income.
Despite efforts to repair the rift between the hospital and the clinic, Shannon Trustees pressed for the divorce. The clinic offered mediation. The Trust declined. I wondered "What caused the relationship to fracture so badly?" Why would they be so intent on breaking up the clinic as all the current doctors could choose the new organization leaving a shell for the system to close down? Is about control or pay back, or both?
I think the Trust is upset over the qui tam lawsuit for over billing. Recently a Shannon physician suggested that Houston based law firm Vinson & Elkins is waiting for the spin off to bring suit in this case. The federal government frequently contracts out these whistle blower suits instead of having Justice department attorneys do the work. My anonymous phone caller indicated Vinson & Elkins has this case.
One reason for the Trust to spin off the clinic is to jettison liability for clinic over billing, before it falls on their doorstep. Did Shannon Health System not conduct proper due diligence when acquiring the clinic in 1995? How does liability transfer back to the now much different Shannon Clinic? Physicians taking the independent exit (vs. Shannon Trust handcuffs) are a much different crew than those committing over billing sins over a decade ago.
No matter the answers, it looks like a bad divorce. One party may get hit by a two by four after the split. The Trust is planning not to be it. What happens if every doctor walks away from the corporate entity known as the Shannon Clinic? They could join the new Shannon doctor group of flee to friendlier environs (across town or elsewhere). If Sam Feazell's hospital didn't have its hands tied waiting for Triad Hospitals to be acquired by Community Health Systems, he could pull a fast one. Then the Trust would be the bag holder.
Some of the documents looked like compliance committee minutes from the large multi-specialty clinic owned by the system. While the evidence supported an investigation, it had no final determination. Deep Throat said he would call back with a case number but that hasn't happened.
After the hospital merger failed, Shannon Health System publicly revealed their intent to spin off this physician group. Doctors in the clinic could buy out the assets and accounts receivable from the hospital or they could take a slot in a new Shannon division, an umbrella with essentially a series of solo practices. For the first year the system would guarantee their last year's income.
Despite efforts to repair the rift between the hospital and the clinic, Shannon Trustees pressed for the divorce. The clinic offered mediation. The Trust declined. I wondered "What caused the relationship to fracture so badly?" Why would they be so intent on breaking up the clinic as all the current doctors could choose the new organization leaving a shell for the system to close down? Is about control or pay back, or both?
I think the Trust is upset over the qui tam lawsuit for over billing. Recently a Shannon physician suggested that Houston based law firm Vinson & Elkins is waiting for the spin off to bring suit in this case. The federal government frequently contracts out these whistle blower suits instead of having Justice department attorneys do the work. My anonymous phone caller indicated Vinson & Elkins has this case.
One reason for the Trust to spin off the clinic is to jettison liability for clinic over billing, before it falls on their doorstep. Did Shannon Health System not conduct proper due diligence when acquiring the clinic in 1995? How does liability transfer back to the now much different Shannon Clinic? Physicians taking the independent exit (vs. Shannon Trust handcuffs) are a much different crew than those committing over billing sins over a decade ago.
No matter the answers, it looks like a bad divorce. One party may get hit by a two by four after the split. The Trust is planning not to be it. What happens if every doctor walks away from the corporate entity known as the Shannon Clinic? They could join the new Shannon doctor group of flee to friendlier environs (across town or elsewhere). If Sam Feazell's hospital didn't have its hands tied waiting for Triad Hospitals to be acquired by Community Health Systems, he could pull a fast one. Then the Trust would be the bag holder.
Friday, June 01, 2007
Dr. K vs. President K
As Dr. Kervorkian is released from prison it seems worthy of revisiting the question "Who has the right to end the life of a terminally ill patient?" The suicide assisting pathologist served eight years in jail for his role in the death of a patient with ALS or Lou Gerhig's disease. In all he helped over 130 end their terminal illnesses from 1990 to 1998.
So who can end the life of an already dying person? In Texas it's no one other than the state and it's based in part on financial reasons. Then Governor and now President Bush signed it into law in 1999.
Contrasting the two situations a patient of sound mind cannot purposefully end their suffering but the state can pull the plug on people wanting to live. Which sounds more inhumane? Yet while one perpetrator lingered in jail, the other got elected to the White House.
In our free country the state can end your life with no recourse, but you cannot choose to do so on your own.
So who can end the life of an already dying person? In Texas it's no one other than the state and it's based in part on financial reasons. Then Governor and now President Bush signed it into law in 1999.
Contrasting the two situations a patient of sound mind cannot purposefully end their suffering but the state can pull the plug on people wanting to live. Which sounds more inhumane? Yet while one perpetrator lingered in jail, the other got elected to the White House.
In our free country the state can end your life with no recourse, but you cannot choose to do so on your own.
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