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Sunday, January 15, 2012
Can the Packers Snap the 15-1 Curse?
Saturday, January 14, 2012
Ripping Romney's Record
Many of the Bain companies emerged from reorganization healthier, just as, for instance, General Motors did a few years ago. But while bankruptcy filings aren't a perfect measure of performance, they provide a way to assess a disparate array of target businesses that in many cases weren't required to make public financial filings.
Marc Wolpow, a former Bain Capital executive, said the frequency of trouble did indeed stem largely from the firm's strategy early on of investing in smaller, troubled firms it hoped to turn around.
"I don't think you can hold Mitt out as a great investor per se," Mr. Wolpow said, "but he was an excellent CEO of an investment firm, and the results speak for themselves."
Overall, Bain Capital’s record was extraordinary, among the best in the business. According to a Bain placement document, through the end of 1999 (effectively, when Romney left), the firm had achieved annual returns of 88 percent per year.
That is not only wildly more than the single-digit returns most investors achieve by buying stocks or bonds, it is far higher than those of typical private equity or venture capital firms.
Thursday, January 12, 2012
Romney vs. Paul Would Make Long, Protracted Primary Fight Worth It
AP File PhotoA fervent, extended primary fight between Ron and Romney would be good for our party and our country. Sadly, it is not to be. Right-wing Genius out!
Wednesday, January 11, 2012
Why the Daley Resignation Is Significant
Congressional Democrats had criticized Daley, a former commerce secretary under President Clinton, for what some described as his imperfect understanding of the legislative branch, and his tense relationship with Senate Majority Leader Harry Reid. This stood in marked contrast to his predecessor, Rahm Emanuel, a former Democratic congressman who is now Mayor of Chicago.
“Rahm Emanuel was not only a creature of the House, he knew many of the senators,” Senate Democratic Whip Dick Durbin told The Huffington Post in September. “Bill Daley does not have that depth of relationship coming in.”
One senior Democratic aide was more blunt, saying that the party’s congressional leadership had “basically come to the conclusion that he’s not up to the job and doesn’t really get how Congress works. At all.”
Last month, I blogged about the premature excitement over Obama’s approval numbers. A new rash of polls out this week show him sinking yet again, and the gap between his approval and disapproval ratings has widened. Gallup pegs his job approval at 43%, while Rasmussen Reports has it at 46%. A Reuters/Ipsos survey gives the president a 47% approval rating, and CBS News says he’s at 45%. In all four polls, more respondents disapproved of the president’s performance than approved.
Tuesday, January 10, 2012
Anything Can Happen
The most exciting thing may be a last-minute surge by Jon Huntsman, who's arguably got the most to lose tonight (except for Mitt Romney). I pondered this possibility in a post last week, but by this weekend I was convinced that that ship had sailed. I may have spoken too soon; a spate of polls out of New Hampshire show real momentum for the even-tempered Mormon Sinophile. Rasmussen Reports has him at 15%, up from 12% in their previous New Hampshire survey. Public Policy Polling, which also had Huntsman polling at 12% the last week of December, released the results of a poll that pegged him at 16%. Perhaps most telling is the candidate's surge in the Suffolk University/7News tracking poll, in which Huntsman has doubled his share of the vote in the last week.
All of these polls have Huntsman in 3rd place, behind Romney and Paul, but a poll released over the weekend from American Research Group has him in 2nd place at 17%, followed by Ron Paul at 16%. Today the two are separated by three percentage points in the RCP average of N.H. polls, which for some reason does not include the ARG survey results; just five days ago, that gap was twelve points.
Wednesday, January 4, 2012
Can Huntsman make a Santorum-style surge in New Hampshire?
Monday, January 2, 2012
The Flaws in Obama's Re-Election Strategy
“In terms of the president’s relationship with Congress in 2012,” Mr. Earnest said at a briefing, “the president is no longer tied to Washington, D.C.” Winning a full-year extension of the cut in payroll taxes is the last “must-do” piece of legislation for the White House, he said.
The White House has been refining the message since July, when Mr. Obama’s attempts to forge a “grand bargain” with the House Republicans on fiscal policy collapsed and he reverted to a populist, anti-Congress strategy.But it did not gain traction until the last few weeks, when polls began showing that nearly half of Americans approved of the job he was doing, up from percentages in the low 40s during most of the year.House Republicans inadvertently helped him just before they recessed for the holidays when they initially refused to extend the payroll tax cut.Mr. Earnest said the strategy had successfully planted “the image of a gridlocked, dysfunctional Congress and a president who is leaving no stone unturned to try to find solutions to the difficult financial challenges and economic challenges facing the country.”
The president’s antagonism toward Congress evokes that of President Harry S. Truman, whose come-from-behind campaign in 1948 focused on a “do-nothing Congress.”But Republican analysts have pointed out that the national unemployment rate in November 1948 was 3.8 percent — not 8.6 percent, as it is now — and that the American economy was on the upswing.
For Mr. Obama, a heavily partisan strategy carries the risk of ... antagonizing Congressional Democrats, who were angry when administration officials, including the White House chief of staff, William M. Daley, criticized Congress without distinguishing between Democrats and Republicans.Democratic leaders said they were satisfied that Mr. Obama was adequately making that distinction, and they said they understood why he would want to run against a Congress whose Republican leadership had blocked his legislation and declared that its primary goal was to defeat him in November.“He has been emphatic in stating that he is running against obstructionist Republicans in the House,” said Representative Steve Israel of New York, the chairman of the Democratic Congressional Campaign Committee.“As long as the president includes the word Republican when he says he is running against Congress, more power to him.”
Tuesday, December 27, 2011
One Week To Go...
Are you sick of hearing about the impending Iowa caucuses?
Me neither. One week from today, voters in the Hawkeye State will kick off the 2012 election cycle with their mystifying mêlée of...whatever. Anyway, before parsing the polls out of Iowa, I'd like to discuss an interesting development in the race for the 2012 Republican nomination.
It seems that neither Texas Gov. Rick Perry nor former House Speaker Newt Gingrich (who until recently the undisputed frontrunner in the GOP primary campaign) have been able to collect and submit the 10,000 signatures necessary to appear on the ballot in Virginia. For Perry, this is not that big a deal; he wasn't going to be the nominee anyway (thank God), and it will be pretty pathetic if he hasn't dropped out of the race by the time Va. holds its primary. But for Gingrich, not being on the ballot in Old Dominion is a pretty big embarrassment, not least because it's his home state.
Yes, the former Speaker spent twenty years representing an Atlanta-area district in Georgia, but he currently resides in the state that has already delivered us more presidents than any other (eight, to be exact). I recently made the acquaintance of one Bryan Eppstein, a legend in Texas politics. Bryan's reputation as a political shark is such that politicians here have been known to retain him, even if they have no need for his services; they just don't want him working for an opponent's campaign. He told me that Al Gore did not lose the 2000 presidential election because he lost Florida; he lost the election because he failed to carry his home state of Tennessee.
I can remember watching the returns roll in on Election Night 2000, and while the race was still up in the air, I remarked that Bush had won Tennessee. (For the record, Bill Clinton carried Tennessee twice.) I wasn't as politically astute back then as I am now, but I found it strange that the election was so close when one candidate couldn't even carry his home state.
Gingrich's failure to make it onto the Virginia primary ballot is all the more galling when you consider that he's been leading the polls there. In a protracted race for the nomination, every delegate counts, and if Newt and Mitt are still duking it out come February, then effectively conceding a state with more delegates than New Hampshire and Iowa combined before any votes are cast will go down as one of the greatest campaign blunders of all time.
The Gingrich campaign didn't do their candidate any favors with their apparent sour-grapes attitude yesterday. Campaign director Michael Krull:
Only a failed system excludes four out of the six major candidates seeking access to the ballot. Voters deserve the right to vote for any top contender, especially leading candidates.
I agree; voters should have the right to vote for any top contender, which is why Virginia, like all states, has certain requirements that candidates must meet in order for their names to appear on the ballot. Newt Gingrich failed to satisfy all the necessary requirements, so I don't think excluding him from the Virginia primary ballots evinces a "failed" system.
Back to Iowa: Gingrich's decline in the polls has not been matched by an equal surge in one candidate's numbers; instead, it appears that his loss is Mitt Romney's, Ron Paul's, Rick Santorum's and Michele Bachmann's gain. Every poll out of the state in the last two weeks has shown either romney or Paul leading; this has pundits buzzing about the prospect of the 76-year-old Congressman and cantankerous old coot winning (or even finishing a close 2nd in) the Iowa cacuses. Such a result would be in affront to the political narrative that the Iowa GOP caucuses are dominated by social conservatives. (Hence, the impressive performances of Mike Huckabee in '08, George W. Bush in 2000 and Pat Robertson in '88.) One interesting quirk in the run-up to the caucuses this year is the failure of any one candidate to lock in the evangelical vote; Michele Bachmann was the early favorite to win this group, then Rick Perry, then Herman Cain, and now it appears evangelical Christians are torn between Bachmann, Santorum, Perry and Gingrich. The latter two have had their moments as King of the Hill, and I highly doubt that either of them are coming back. Ditto Bachmann, but swap "Queen for a Day" for "King of the Hill." Santorum, however, has never topped the polls in any state and may just be the next candidate to surge. He's arguably devoted more time and energy to Iowa than anyone else, and his fervent appeal to church-going folk in middle America while running his campaign on a shoestring budget conjures up memories of Huckabee four years ago. (For the record, it was in December of 2007 that the former Arkansas governor surpassed Mitt Romney in the polls in Iowa, where Romney had held a steady lead for months.) My predictions: Ron Paul will soar no higher; he has reached his peak in Iowa, though his current poll position (22.7% in the RCP average) is probably pretty close to what he'll actually pull next week in the caucuses. Santorum will outperform Bachmann among evangelicals and finish well ahead of her in the final tallies. Romney looks good to win; he'll definitely be first or second. Perry and Gingrich will underwhelm but stay in the race, and Baylor will crush UW in the Alamo Bowl.
Wednesday, December 21, 2011
The Freedom Fighter and the Farce
This past Sunday, we learned of the deaths of two world leaders. Former Czech president Václav Havel died in Vlčice at age 75, and Korean Central Television reported that Kim Jong-il had died of a massive heart attack Saturday morning.It seems fitting to do a compare-and-contrast piece on the lives and legacies of these two men; one a Communist dictator, the other a dissident who rebelled against Communism and spent many years in jail. While one made human rights a focal point of his career and even chaired the New York-based Human Rights Foundation, the other presided over a government that Human Rights Watch called "among the world's most repressive". The similarities between the two leaders extend far beyond their status as heads of state, however. Both emerged as major players on the world political stage in the late 20th Century, and both led storied personal lives, the details of which we may never be sure of. Perhaps most noteworthy is that both men were born into powerful families.
Havel was born in Prague in 1936. His father, Václav Maria Havel, was a wealthy entrepreneur who owned various high-dollar real estate properties throughout Bohemia. Havel's mother, Božena Vavrečková, was the daughter of an ambassador and well-known journalist. The Havel family was closely connected with the Czech cultural and political scene, and it was Bozena herself who encouraged young Václav to convene his first literary circle. Kim Jong-il, meanwhile, was born Yuri Irsenovich Kim, according to Soviet records, in the small Russian village of Vyatskoye in 1941. His father, Kim Il-sung, commanded the 1st Battalion of the Soviet 88th Brigade, made up of Chinese and Korean exiles.
1948 proved a pivotal year in the lives of both men and their families (as well as millions of other people). In February, the Soviet-backed Communist Party of Czechoslovakia took over the Czechoslovakian government. Havel's family holdings were seized by the authorities. Then, on May 1, the Democratic People's Republic of Korea was officially founded. Kim Il-sung was installed as prime minister September 9th.
While Kim purportedly composed six operas in two years and enjoyed staging elaborate musicals, Havel actually wrote more than 20 plays, including The Garden Party (1960), The Memorandum (1965) and The Increased Difficulty of Concentration (1968), all of which were performed at the famous Theatre on the Balustrades ("Divadlo Na zábradlí") in Prague. "The cultural tradition prevalent in his family focussed Havel's attention on humanistic values of Czech culture which were suppressed in the fifties," according to the former president's official biography on the Prague Castle web site. He also wrote countless essays and worked as a magazine editor.
Following the Soviet invasion and crackdown in 1968, the government banned Havel's plays and sent him to work at a brewery. Not even the rank fumes of totalitarian swill could stifle his prosaic propensity, however. He was the principal author of Charta 77, a kind of dissident manifesto that gave rise to an anti-Communist movement among a section of Czechoslovak citizens.
While Havel was repeatedly being jailed and released by the Communist government, Kim Il-sung was grooming his son as the heir apparent to his all-powerful position. In the 1970s, Kim Jong-Il moved quickly through the ranks of the Korean Workers Party (Communist) hierarchy, eventually becoming a member of the Central Committee, the Military Commission, and the politburo. He assumed the title "Dear Leader" (친애하는 지도자) and was made a member of the Seventh Supreme People's Assembly (whatever that was) in February 1982.
If there was a singular event that marked the death knell of Communism as a major statist force/threat, then it was probably the fall of the Berlin Wall on November 9, 1989. Eight days later, riot police suppressed a peaceful student demonstration in Prague. A series of popular, largely nonviolent demonstrations followed, and by November 20th the number of peaceful protesters assembled in Prague had swelled from 200,000 the previous day to an estimated half-million. A two-hour, nationwide general strike was successfully held one week later. The following day, the Communist Party of Czechoslovakia announced that it would relinquish power and dismantle the single-party state.
At the center of this so-called Velvet Revolution was Václav Havel, who along with other members of the Charter 77 dissident movement founded Civic Forum (not to be confused with the online symposium for Honda Civic owners/drivers). After Pres. Gustáv Husák resigned on December 10, Havel was elected president.
According to at least one Havel biographer, it was at this pivotal time that Havel's Machiavellian side emerged. Alexander Dubček, the one-time leader of the Communist Party of Czechoslovakia whose attempted liberalization was crushed in 1968, looked to be the likely choice to take over as president during this transitional period, but Havel deftly ushered him aside and was reelected in 1990, when what was then Czechoslovakia held its first free elections. Dubček had to settle for being Speaker of the Federal Assembly. Compare this to Kim's early days on the KWP Central Committee; he reportedly wrested the post of party organization secretary from his uncle in September 1973 and used his position as head of the Organisation & Guidance Department to purge the KWP of those not sufficiently loyal to his father. He became Supreme Commander of the Korean People's Army in 1991.
Havel lost the presidency in 1992, shortly before his country split into the Czech Republic and Slovakia. The following January, he was elected the first President of the Czech Republic. That same year, Kim Jong-il assumed the role of Chairman of the National Defence Commission in North Korea. After his father's death in 1994, Kim succeeded him as supreme leader of the God-forsaken Communist state. In 1997, he officially took over as both Chairman of the Military Commission and General Secretary of the WPK.
As president of the Czech Republic, Havel led his country into the OECD and NATO and laid the groundwork for its 2004 accession to the European Union. He left office in 2003, the same year that North Korea began participating in six-party talks sponsored by China that went absolutely nowhere. At the very least, Kim Jong-il can tout his country's acquisition of "the bomb" as an achievement during his tenure.
The contrast is striking: one man led a government that propogated fantastic tales of its leader's musical talent, athletic prowess and influence in the fashion world, the other actually lived an incredible life, accomplishing feats that lesser men could not have.
Havel and Kim were both powerful men during their lifetimes, and now they are no more. But, while one leaves behind a legacy of leadership marked by courage in the face of oppression by a brutal Communist regime and shepherding his country through a peaceful transition from a Soviet-dominated police state to a democratic republic, the other will be remembered as an evil dictator, a nepotist clown who presided over the mass starvation of his own people and whose actions led to the further ostracization of his already isolated state. While Havel rebelled against the intimidating power of the Soviet Union that had supported Czechoslovakia's Communist government for over 40 years, Kim Jong-il spent his time as supreme leader trying to model his state after the former U.S.S.R. in a futile attempt to attain that unattainable goal, a socialist paradise. North Korea was only a paradise for the Kim family. Havel, meanwhile, is experiencing true paradise right now, in the eternal kingdom of the Almighty.