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marmar
marmar's Journal
marmar's Journal
September 5, 2012
LaHood reports progress on regional transit
By David Shepardson
Detroit News Washington Bureau
Ann Arbor — Transportation Secretary Ray LaHood met with Gov. Rick Snyder and the state Senate Republican leader Tuesday and said progress is being made on the long-stalled regional transit authority.
LaHood praised the meeting with Sen. Majority Leader Randy Richardville, R-Monroe, and said he planned to meet with House Speaker Jase Bolger, R-Marshall, early next month.
"I believe within the next month or so we will be able to make some announcements and we're making a lot of progress and I things are moving in the right direction," LaHood said.
In February 2010, the Transportation Department awarded $25 million for Detroit light rail as part of a 9.3-mile, $500 million project that was to travel up Woodward to Eight Mile. .................(more)
The complete piece is at: http://www.detroitnews.com/article/20120822/METRO05/208220340#ixzz25bS9x2pL
Detroit News: LaHood reports progress on regional transit
LaHood reports progress on regional transit
By David Shepardson
Detroit News Washington Bureau
Ann Arbor — Transportation Secretary Ray LaHood met with Gov. Rick Snyder and the state Senate Republican leader Tuesday and said progress is being made on the long-stalled regional transit authority.
LaHood praised the meeting with Sen. Majority Leader Randy Richardville, R-Monroe, and said he planned to meet with House Speaker Jase Bolger, R-Marshall, early next month.
"I believe within the next month or so we will be able to make some announcements and we're making a lot of progress and I things are moving in the right direction," LaHood said.
In February 2010, the Transportation Department awarded $25 million for Detroit light rail as part of a 9.3-mile, $500 million project that was to travel up Woodward to Eight Mile. .................(more)
The complete piece is at: http://www.detroitnews.com/article/20120822/METRO05/208220340#ixzz25bS9x2pL
September 5, 2012
LaHood reports progress on regional transit
By David Shepardson
Detroit News Washington Bureau
Ann Arbor — Transportation Secretary Ray LaHood met with Gov. Rick Snyder and the state Senate Republican leader Tuesday and said progress is being made on the long-stalled regional transit authority.
LaHood praised the meeting with Sen. Majority Leader Randy Richardville, R-Monroe, and said he planned to meet with House Speaker Jase Bolger, R-Marshall, early next month.
"I believe within the next month or so we will be able to make some announcements and we're making a lot of progress and I things are moving in the right direction," LaHood said.
In February 2010, the Transportation Department awarded $25 million for Detroit light rail as part of a 9.3-mile, $500 million project that was to travel up Woodward to Eight Mile. .................(more)
The complete piece is at: http://www.detroitnews.com/article/20120822/METRO05/208220340#ixzz25bS9x2pL
Metro Detroit: LaHood reports progress on regional transit
LaHood reports progress on regional transit
By David Shepardson
Detroit News Washington Bureau
Ann Arbor — Transportation Secretary Ray LaHood met with Gov. Rick Snyder and the state Senate Republican leader Tuesday and said progress is being made on the long-stalled regional transit authority.
LaHood praised the meeting with Sen. Majority Leader Randy Richardville, R-Monroe, and said he planned to meet with House Speaker Jase Bolger, R-Marshall, early next month.
"I believe within the next month or so we will be able to make some announcements and we're making a lot of progress and I things are moving in the right direction," LaHood said.
In February 2010, the Transportation Department awarded $25 million for Detroit light rail as part of a 9.3-mile, $500 million project that was to travel up Woodward to Eight Mile. .................(more)
The complete piece is at: http://www.detroitnews.com/article/20120822/METRO05/208220340#ixzz25bS9x2pL
September 5, 2012
Source: Chicago Tribune
Created: September 5, 2012
Sept. 05 -- More than 100 CTA riders attended a public hearing Tuesday on a proposal billed as enhancing bus and train service. But most people who testified denounced the crowding-reduction strategy as a trick by transit officials to slash much-needed bus routes.
Senior citizens, disabled riders, people who work late-night shifts and 9-to-5 commuters said the CTA should be focused on increasing service, not cutting it back.
They criticized the CTA for basing its service-restructuring proposals on an analysis conducted by transportation experts at Northwestern University rather than going to riders via neighborhood surveys.
"The process smells of a sham. One meeting in an overcrowded room," Uptown resident Michael Dannhauser complained to CTA President Forrest Claypool and the six CTA board members in attendance. ................(more)
The complete piece is at: http://www.masstransitmag.com/news/10773901/il-riders-blast-cta-de-crowding-plan-at-hearing
Chicago: Riders Blast CTA 'De-Crowding' Plan at Hearing
Source: Chicago Tribune
Created: September 5, 2012
Sept. 05 -- More than 100 CTA riders attended a public hearing Tuesday on a proposal billed as enhancing bus and train service. But most people who testified denounced the crowding-reduction strategy as a trick by transit officials to slash much-needed bus routes.
Senior citizens, disabled riders, people who work late-night shifts and 9-to-5 commuters said the CTA should be focused on increasing service, not cutting it back.
They criticized the CTA for basing its service-restructuring proposals on an analysis conducted by transportation experts at Northwestern University rather than going to riders via neighborhood surveys.
"The process smells of a sham. One meeting in an overcrowded room," Uptown resident Michael Dannhauser complained to CTA President Forrest Claypool and the six CTA board members in attendance. ................(more)
The complete piece is at: http://www.masstransitmag.com/news/10773901/il-riders-blast-cta-de-crowding-plan-at-hearing
September 5, 2012
from the Detroit Metro Times:
Drug-war booty
By Larry Gabriel
Published: September 5, 2012
There are reasons why police smile when they trot out the booty from a drug bust. And it's not just because they got a bunch of drugs off the street. In addition to drugs, they usually confiscate money, computers, jewelry, guns, cars, bank accounts, homes and more. What makes the police officers' smiles so big is that, other than the drugs, they get to keep everything they took.
Asset forfeiture is the confiscation by police or governments of the alleged ill-gotten gains of crime. If the police deem you to be a drug dealer, or even user, they can pretty much take whatever you have up to $100,000 without having to get anyone's permission. If the amount is more than $100,000, law enforcement must institute a court proceeding in order to keep the asset.
The intent of the law is to take the profit out of crime and financially hamper the criminal element. The problem is that they can keep anybody's stuff even if they are never convicted of a crime. Hell, they don't even have to charge you with a crime to take your stuff. And police are taking plenty in Michigan.
"If you total everything together, in 2009 forfeitures totaled a net of $33,941,000," says state Rep. Jeff Irwin (D-Ann Arbor). "It's a big number." ...................(more)
The complete piece is at: http://metrotimes.com/mmj/drug-war-booty-1.1368275
Drug-war booty
from the Detroit Metro Times:
Drug-war booty
By Larry Gabriel
Published: September 5, 2012
There are reasons why police smile when they trot out the booty from a drug bust. And it's not just because they got a bunch of drugs off the street. In addition to drugs, they usually confiscate money, computers, jewelry, guns, cars, bank accounts, homes and more. What makes the police officers' smiles so big is that, other than the drugs, they get to keep everything they took.
Asset forfeiture is the confiscation by police or governments of the alleged ill-gotten gains of crime. If the police deem you to be a drug dealer, or even user, they can pretty much take whatever you have up to $100,000 without having to get anyone's permission. If the amount is more than $100,000, law enforcement must institute a court proceeding in order to keep the asset.
The intent of the law is to take the profit out of crime and financially hamper the criminal element. The problem is that they can keep anybody's stuff even if they are never convicted of a crime. Hell, they don't even have to charge you with a crime to take your stuff. And police are taking plenty in Michigan.
"If you total everything together, in 2009 forfeitures totaled a net of $33,941,000," says state Rep. Jeff Irwin (D-Ann Arbor). "It's a big number." ...................(more)
The complete piece is at: http://metrotimes.com/mmj/drug-war-booty-1.1368275
September 5, 2012
from The Nation:
Students, Beware: Private Student-Loan Companies Are Not Your Friends
Kay Steiger
September 4, 2012
Once again, student-loan season is upon us. As a new class of freshmen ships off for a hopeful first year of college or trade school, many are as busy figuring out financial arrangements as lining up classes. It wasn’t always this way, but as education has become both more costly and more necessary, many students feel they don’t have any other choice. And so they borrow $10,000, $25,000, as much as $100,000, often unaware of the unforgiving nature of the debt they’re taking on.
This year, as these students prepare to sign away their futures, they would do well to consider a report released by the Consumer Financial Protection Bureau (CFPB). On July 20, the agency designed by Massachusetts Senate candidate Elizabeth Warren released “Private Student Loans,” a devastating expose of the $150 billion private student loan industry, one of the banking world’s Goliaths. The report is both an official account of private lenders’ underhanded “subprime-style” tactics as well as a sharp warning against taking out private loans that put students at risk of financial ruin.
As described in the report, the student-loan industry is a villainous enterprise, set on scamming some of the country’s most eager and vulnerable citizens. Anchored by lending giants like Sallie Mae and bolstered by some for-profit colleges that lend to their own students, it bears all the hallmarks of some of the last decade’s other most predatory industries. Much like the mortgage industry, it used cheap-credit tactics to prey on low-information borrowers, typically students of color, effectively quadrupling in size between 2001 and 2008. And like the mortgage industry, it collapsed in the recession, leaving many students drowning in debt. Today, more than $8.1 billion worth of private student loans are in default.
Here’s one way the industry goes about its business: though private student loans typically come to students through a menu of lending options from a college or university’s financial aid office, along with federal options like Pell grants and subsidized Stafford loans, the CFPB report explains that many of these loans are offered directly to students without input from a financial aid office. This tactic, called “direct to consumer” lending, results in “significant over-borrowing.” This is problematic because “over-borrowing increases the likelihood of default, to the detriment of both borrower and lender.” ................(more)
The complete piece is at: http://www.thenation.com/article/169728/students-beware-private-student-loan-companies-are-not-your-friends
Students, Beware: Private Student-Loan Companies Are Not Your Friends
from The Nation:
Students, Beware: Private Student-Loan Companies Are Not Your Friends
Kay Steiger
September 4, 2012
Once again, student-loan season is upon us. As a new class of freshmen ships off for a hopeful first year of college or trade school, many are as busy figuring out financial arrangements as lining up classes. It wasn’t always this way, but as education has become both more costly and more necessary, many students feel they don’t have any other choice. And so they borrow $10,000, $25,000, as much as $100,000, often unaware of the unforgiving nature of the debt they’re taking on.
This year, as these students prepare to sign away their futures, they would do well to consider a report released by the Consumer Financial Protection Bureau (CFPB). On July 20, the agency designed by Massachusetts Senate candidate Elizabeth Warren released “Private Student Loans,” a devastating expose of the $150 billion private student loan industry, one of the banking world’s Goliaths. The report is both an official account of private lenders’ underhanded “subprime-style” tactics as well as a sharp warning against taking out private loans that put students at risk of financial ruin.
As described in the report, the student-loan industry is a villainous enterprise, set on scamming some of the country’s most eager and vulnerable citizens. Anchored by lending giants like Sallie Mae and bolstered by some for-profit colleges that lend to their own students, it bears all the hallmarks of some of the last decade’s other most predatory industries. Much like the mortgage industry, it used cheap-credit tactics to prey on low-information borrowers, typically students of color, effectively quadrupling in size between 2001 and 2008. And like the mortgage industry, it collapsed in the recession, leaving many students drowning in debt. Today, more than $8.1 billion worth of private student loans are in default.
Here’s one way the industry goes about its business: though private student loans typically come to students through a menu of lending options from a college or university’s financial aid office, along with federal options like Pell grants and subsidized Stafford loans, the CFPB report explains that many of these loans are offered directly to students without input from a financial aid office. This tactic, called “direct to consumer” lending, results in “significant over-borrowing.” This is problematic because “over-borrowing increases the likelihood of default, to the detriment of both borrower and lender.” ................(more)
The complete piece is at: http://www.thenation.com/article/169728/students-beware-private-student-loan-companies-are-not-your-friends
September 5, 2012
from 24/7WallStreet:
FedEx Slashes Earnings Forecasts
Posted: September 4, 2012 at 6:37 pm
There are not many companies the results of which are a nearly complete mirror of the global economy. FedEx Corp. (NYSE: FDX) comes close, as it ships tens of millions of packages a month for individuals and companies great and small based in well over 100 nations.
FedEx cuts its earnings forecasts today, based on, of all things, a damaged economy.
The shipper reported
As might be expected the company’s stock plunged — 3% — after hours, to $84.85. That is against a 52-week high of $97.19, and a low of $64.07. It is surprising the figure is not much lower, based on how bad the news is.
-- Douglas A. McIntyre
http://247wallst.com/2012/09/04/fedex-slashes-earnings-forecasts/#ixzz25ar9nmKu
FedEx Slashes Earnings Forecasts
from 24/7WallStreet:
FedEx Slashes Earnings Forecasts
Posted: September 4, 2012 at 6:37 pm
There are not many companies the results of which are a nearly complete mirror of the global economy. FedEx Corp. (NYSE: FDX) comes close, as it ships tens of millions of packages a month for individuals and companies great and small based in well over 100 nations.
FedEx cuts its earnings forecasts today, based on, of all things, a damaged economy.
The shipper reported
earnings for the first quarter ended August 31, 2012 are expected to be in the range of $1.37 to $1.43 per diluted share, compared to $1.46 per diluted share last year. The company’s original first quarter forecast was for earnings of $1.45 to $1.60 per diluted share.
Earnings during the quarter were lower than originally forecast, as weakness in the global economy constrained revenue growth at FedEx Express more than expected in the earlier guidance.
As might be expected the company’s stock plunged — 3% — after hours, to $84.85. That is against a 52-week high of $97.19, and a low of $64.07. It is surprising the figure is not much lower, based on how bad the news is.
-- Douglas A. McIntyre
http://247wallst.com/2012/09/04/fedex-slashes-earnings-forecasts/#ixzz25ar9nmKu
September 5, 2012
from the Detroit Metro Times:
Drug-war booty
By Larry Gabriel
Published: September 5, 2012
There are reasons why police smile when they trot out the booty from a drug bust. And it's not just because they got a bunch of drugs off the street. In addition to drugs, they usually confiscate money, computers, jewelry, guns, cars, bank accounts, homes and more. What makes the police officers' smiles so big is that, other than the drugs, they get to keep everything they took.
Asset forfeiture is the confiscation by police or governments of the alleged ill-gotten gains of crime. If the police deem you to be a drug dealer, or even user, they can pretty much take whatever you have up to $100,000 without having to get anyone's permission. If the amount is more than $100,000, law enforcement must institute a court proceeding in order to keep the asset.
The intent of the law is to take the profit out of crime and financially hamper the criminal element. The problem is that they can keep anybody's stuff even if they are never convicted of a crime. Hell, they don't even have to charge you with a crime to take your stuff. And police are taking plenty in Michigan.
"If you total everything together, in 2009 forfeitures totaled a net of $33,941,000," says state Rep. Jeff Irwin (D-Ann Arbor). "It's a big number." ...................(more)
The complete piece is at: http://metrotimes.com/mmj/drug-war-booty-1.1368275
Drug-war booty
from the Detroit Metro Times:
Drug-war booty
By Larry Gabriel
Published: September 5, 2012
There are reasons why police smile when they trot out the booty from a drug bust. And it's not just because they got a bunch of drugs off the street. In addition to drugs, they usually confiscate money, computers, jewelry, guns, cars, bank accounts, homes and more. What makes the police officers' smiles so big is that, other than the drugs, they get to keep everything they took.
Asset forfeiture is the confiscation by police or governments of the alleged ill-gotten gains of crime. If the police deem you to be a drug dealer, or even user, they can pretty much take whatever you have up to $100,000 without having to get anyone's permission. If the amount is more than $100,000, law enforcement must institute a court proceeding in order to keep the asset.
The intent of the law is to take the profit out of crime and financially hamper the criminal element. The problem is that they can keep anybody's stuff even if they are never convicted of a crime. Hell, they don't even have to charge you with a crime to take your stuff. And police are taking plenty in Michigan.
"If you total everything together, in 2009 forfeitures totaled a net of $33,941,000," says state Rep. Jeff Irwin (D-Ann Arbor). "It's a big number." ...................(more)
The complete piece is at: http://metrotimes.com/mmj/drug-war-booty-1.1368275
September 5, 2012
from CBC News:
Toronto Mayor Rob Ford will testify in court Wednesday about allegations he violated conflict of interest rules when he spoke and participated in a council vote regarding a financial penalty he was ordered to pay in relation to donations he solicited for his football charity.
Ford will be questioned on the first day of the three-day hearing by high-profile lawyer Clayton Ruby, who is representing Toronto resident Paul Magder in a legal challenge that could have massive implications.
The following is a rundown of key facts and background information pertaining to the case.
What's at stake
Technically, the mayoralty. If Ford is found to have violated the Municipal Conflict of Interest Act (MCIA), he would be automatically ejected from office. Justice Charles Hackland, who will oversee the hearing, can also bar him from being able to run for office for up to seven years. .........................(more)
The complete piece is at: http://www.cbc.ca/news/canada/toronto/story/2012/09/04/toronto-mayor-ford-conflict-case321.html
Could Toronto's jackass mayor be extracted from office?
from CBC News:
Toronto Mayor Rob Ford will testify in court Wednesday about allegations he violated conflict of interest rules when he spoke and participated in a council vote regarding a financial penalty he was ordered to pay in relation to donations he solicited for his football charity.
Ford will be questioned on the first day of the three-day hearing by high-profile lawyer Clayton Ruby, who is representing Toronto resident Paul Magder in a legal challenge that could have massive implications.
The following is a rundown of key facts and background information pertaining to the case.
What's at stake
Technically, the mayoralty. If Ford is found to have violated the Municipal Conflict of Interest Act (MCIA), he would be automatically ejected from office. Justice Charles Hackland, who will oversee the hearing, can also bar him from being able to run for office for up to seven years. .........................(more)
The complete piece is at: http://www.cbc.ca/news/canada/toronto/story/2012/09/04/toronto-mayor-ford-conflict-case321.html
Profile Information
Gender: MaleHometown: Detroit, MI
Member since: Fri Oct 29, 2004, 12:18 AM
Number of posts: 77,066
