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19 Oct 2011 16:43

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Culture: Bryant Gumbel likens NBA commish Stern to “plantation overseer”

  • If the NBA lockout is going to be resolved anytime soon, it seems likely to be done in spite of David Stern, not because of him. His efforts are typical of a commissioner who has always seemed eager to be viewed as some kind of modern-day plantation overseer, treating NBA men as if they were his boys.
  • HBO’s Bryant Gumbel • Comparing NBA comissioner David Stern to a “plantation overseer,” a reference chock-full of obvious racial implications. We feel a bit at a loss to really weigh in on the accuracy of these remarks; the NBA lockout negotiations have been somewhat opaque, with the exception of a source claiming Kevin Garnett’s intensity “f***ed everything up.” Gumbel’s tenor makes it seem pretty obvious he’s referring to a respect issue between Stern and the players, though the slavery reference will make some people’s eyes roll in the context of whether millionaires (the 1%, so to speak) will become millionaires additional times over. That said, Gumbel is a veteran and respected sports journalist, and may have insight into these proceedings unknown to us. source
Posted by Chris Tognotti • 0 Comments • Permalink

19 Oct 2011 16:07

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Biz: Citigroup settles civil fraud complaint over derivatives scheme

  • $285 million payout by Citigroup over fraud complaint source
  • » A tidy little sum: It’s being reported that Citigroup has agreed to the above settlement, which would bring to an end a civil fraud complaint filed by some of their investors. The story is, as it happens, quite similar to what Goldman Sachs was found to have done (Goldman shelled out $550 million in that case). Citigroup helped structure investment portfolios for their clients without telling them that the bank itself was selecting the assets while betting against their success. In simple terms, a conflict of interest, and one that netted the company nearly $1 billion dollars. That figure, also, says something about the problem of mega-corporations buying out of legal trouble; namely, the amount it costs to satisfy a plaintiff is nearly never enough to such a company to truly dissuade the behavior.
Posted by Chris Tognotti • 0 Comments • Permalink

19 Oct 2011 15:04

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Biz: Apple’s quarterly profits below expectations for first time since 2004

  • 6% drop in price of Apple shares in wake of 3rd quarter results source
  • » But they’re not so worried: Parsing the present-day meaning of past quarter business reports can be a sketchy task, especially considering that in Apple’s case, the recently released iPhone 4S is expected to lend a surge to their profits, though that won’t come across until the current quarter’s figures come out. (One company official specifically blamed iPhone 5 rumors for hurting the company’s bottom line.) And despite the dip in share prices, Apple’s actual business in the 3rd quarter was yet robust; profits increased by 54%, and sales went up 39%. And since we’re talking Apple, we’d be remiss not to mention also that there’s a Steve Jobs memorial exclusively for employees that’s happening today; Apple’s Cupertino campus is hosting, and Apple stores nationwide will be closing for the duration to allow staff to watch.
Posted by Chris Tognotti • 0 Comments • Permalink

19 Oct 2011 11:07

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U.S.: Owner of Ohio exotic wildlife preserve opens cages, commits suicide

  • It’s always been a fear of mine knowing (the preserve’s owner) had all those animals. I have kids.
  • Neighbor Danielle White • Discussing the bizarre incident involving an Ohio wildlife preserve, where numerous animals — lions, tigers and bears, plus more — had to be taken down in shoot-to-kill fashion after the owner opened up the cages housing numerous animals … then reportedly committed suicide, allowing the animals to run free throughout the area and creating a number of challenges for authorities. The preserve had been the subject of many complaints over the past decade. White, for example, once saw a lion escape. Most of the animals have been put down, but nearby schools had to close as a result of the bizarre incident. source
Posted by Ernie Smith • 0 Comments • Permalink

19 Oct 2011 10:42

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U.S.: Father of the year: Drunk dad used 9-year-old as designated driver

  • Not the best move, dude: Shawn Weimer’s early-morning October 8 outing wouldn’t have drawn quite so many eyebrows … had his daughter been a decade older. She wasn’t, and as a result, he’s been getting negative national attention for the incident. But is it a momentary sign of bad judgment on the Michigan dad’s part … or a sign of something worse? With Weimer’s trial delayed for now, the father has some time to contemplate — as does the public. source
Posted by Ernie Smith • 0 Comments • Permalink

19 Oct 2011 10:25

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U.S.: Pepper-spraying NYPD cop Anthony Bologna disciplined

  • 10 days of vacation time lost for his pepper-spraying conduct source
  • But does it go far enough?While Bologna’s actions in the infamous YouTube video drew massive scorn, some of the victims weren’t impressed with the punishment. “He needs a lot of vacation. He needs to go to a place very quiet, far away, for a very long time,” Ron Kuby, the lawyer for one of the victims, said. “He’s supposed to be there in an advisory capacity, to ensure that the young patrol officers aren’t doing what in fact the deputy inspectors are doing.”
  • Presented in the right context?Meanwhile, Bologna’s union, the NYPD Captains Endowment Association, is standing behind the cop, despite the claim he violated the department’s rules on pepper spray use: “Deputy Inspector Bologna is disappointed at the results of the Department investigation. His actions prevented further injury and escalation of tumultuous conduct. To date, this conduct has not been portrayed in its true context.” Bologna can still challenge the ruling.
Posted by Ernie Smith • 0 Comments • Permalink
 
 
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