what i learned today

Why did Lieberman speak at the RNC? Isn’t he a Democrat?
Why no, he’s not. He’s been an “Independent Democrat” since 2006.  He spoke at the convention because “country matters more than party.”

Did Palin really sell the government plane on eBay?
No. She did put it on eBay but it was later sold by a plane broker for $2.1 million. Palin’s predecessor, Frank Murkowski, used state money to buy the plane for $2.7 million. (thanks Nick and Matt for the heads up.)

What was the Bridge to Nowhere?
A proposed bridge from Ketchikan, Alaska to Ketchikan International Airport on Gravina Island, Alaska. It would replace the ferry and was projected to cost about $400 million. It was proposed in 2005 and was cancelled by Palin in 2007, indicating the funds could be better used elsewhere.

What is the SPR?
It’s the Strategic Petroleum Reserve, America’s emergency supply of oil. We currently have 707.2 million barrels of oil as of August 29, the largest emergency supply in the world.

Drill Baby Drill?
Um, no. That’s not going to cure what ails us. The EIA estimates drilling in the ANWR would lower the price of oil by a mere $1.44 per barrel, at most.

Is it true Obama abstained from 130 Senate votes?
Yes, Obama voted “present” 129 times during his eight years in the Illinois Senate. But “not all ‘present’ votes are cowardly… I think he believed that he was doing the right thing, because something, in his mind, might have been unconstitutional,” says Rich Miller, who writes and publishes The Capitol Fax, a daily newsletter and blog on Illinois politics.

Giuliani really went full throttle didn’t he?
Yep.

How old is Mrs. McCain?
96.

How old is Mrs. McCain?
54.

Why can’t McCain raise his arms?
As a prisoner of war in Vietnam, he was tortured by having his head tied between his ankles with his arms behind him, where he was left for hours. It so badly hurt his shoulders that he cannot raise his arms above his head.

We all know the story about how McCain was released from Vietnamese prison early, but elected to stay. But why was he chosen to leave?
He states in his reflections that he was allowed to go home early because his father was a high ranking admiral. Did you know that McCain’s family has a tradition of military service dating back to the Revolutionary War?

How does McCain have a Bangladeshi daughter?
Cindy McCain was visiting Mother Theresa’s orphanage in Bangladesh in 1991 and met an infant with a cleft palate so severe the orphanage could not feed her properly. Fearing she could not be saved, Cindy took the child home wtih her to save her life. After the long flight with the child, she decided the baby would be joining her family.

Does McCain really vote against Vets?
He voted against various amendments that would provide money to the Department of Veterans Affairs (VA) for healthcare.

Does anyone remember when McCain was almost left the Republican party?
You should, he did it twice. In 2001, he had discussions with Democrats about leaving the GOP. Then again in 2004, he apparently considered becoming Kerry’s running mate on a Democratic ticket.

And as for a stated plan?
He didn’t outline hard plans in his speech, but played more to his integrity, his service to our country, and his ability to cross party lines. Though I did get the following:
- keep taxes low; create more jobs
- cut government spending
- non government run healthcare system
- offshore drilling, as well as investment and research into nuclear, renewables, and clean coal
- equal access to education for all
- limiting power of teachers unions
- wage insurance for laid off factory workers

Is McCain the next Bush?
No. But that’s just my opinion. I thought this article about the “frenemies” was pretty interesting.

Check TheStreet.com’s new Bank & Thrift Index. There are 2518 ranked D or lower in the US.

“In July 2006, women accounted for just under 17% of parliamentarians worldwide. A woman was the head of government in only seven countries.”  This could be due to short supply, higher cost to entry due to family, or to voter attitude, which previous research has found may be “distaste” for female leadership.

Is that “distaste” why we’ve seen such out lash against Palin? As Laura Bush suggested in an interview with ABC’s Brian Williams this week, “No one would be talking about a man’s children and how many children they had, or any other thing about their children.” And as Giuliani last night proclaimed, “How dare they question whether Palin will have enough time to spend with her children while vice president? When do they ever ask a man that question?” Instead of attacking Obama’s lack of experience, the media attacks Palin’s, arguing she would be unfit to step in as President if circumstances required it. So is this more than just the typical media bias?

Researchers at the Center for International Development at Harvard have found that voters, men in particular, are prejudiced against female leaders.  At least those in certain villages in India, where the 73^rdAmendment mandates that at least 1/3 of government positions be filled by women.  This mandate allowed the researchers to study the attitude toward female leaders and how exposure to female leadership changed those attitudes.

They found that the voters in a village with its first female leader give evaluations of the woman’s performance that are lower than those of her men counterparts (even when the woman outperforms the men).  However, that “distaste” dissipates over time – when a village is exposed a second time to a female leader, the woman’s evaluations are on par with those of her male counterparts. It appears, per the research, that exposure to a female leader reduces prejudice by 50 to 100% (depending on the village).

The study is both preliminary and incomplete, and it certainly may be a stretch for me to apply the findings to our current political situation, especially considering Hillary’s 18 million popular votes do not exactly scream “distaste.”  One could think that Hillary paved the way for Palin’s nomination. But if certain states swing red, it may be Palin who could pave the way for Hillary in 2012.

Will this become this? Venice’s Piazza San Marco is in need of restoration but can’t foot the bill. To help fund the project, Venice may resort to electronic advertising billboards, much like those adorning our beautiful Times Square.

The plan, yet to be officially approved, calls for five screens, each measuring about 2,500 square feet, to be hung on scaffolding throughout the square. Sad times.

How much did it cost to attend the DNC?
Free for everyday adults. Some special seats cost at least $1,000.

How many seats does the Mile High Stadium (aka Invesco field) hold?
Aboout 76125

How old is Biden’s “drop dead gorgeous” wife?
57

What is her PhD that he says is “a problem”?
She received her PhD in education from the University of Delaware.

How old is Biden’s mom?
90

How cute are Obama’s daughters?
Very.

Who cares that Eisenhower’s granddaughter supports Obama?
I don’t know.

Do (young) people know why Ted Kennedy could never have been President?
A quick poll shows no. Though he did put in his bid in the 1980 election, the Chappaquiddick Incident was poor form.

Where were the Clintons at Obama’s speech?
Apparently Hillary supposed to be there (but I never saw her), but Bill did not attend. It was a way of passing the baton to the next generation, I suppose.

Did McCain really congratulate Obama in an ad?
Yes. View it here.

Has a candidate ever delivered a congratulations commercial to the other party’s nominee?
I don’t know, I tried to research that but had little success.

Has McCain really voted with Bush 90% of the time?
Per Congressional Quarterly Voting Studies here is McCain’s support since ‘01,
2001: 91%
2002: 90%
2003: 91%
2004: 92%
2005: 77%
2006: 89%
2007: 95%

Does Obama actually have a platform?
Prior to tonight, he seemed more like a trendy brand than a Presidential nominee. Here are his planks, as they were finally outlined in his speech:

Energy

• End dependence on oil from middle east – support natural gas, clean coal, nuclear power, solar power, wind power.
  
• Spend $150B in clean energy the next decade, and add 5 million new jobs that can’t be outsourced.
• Retool our failing auto companies so they can make fuel-efficient cars.
  

Education

• Every child a “world class” education

Healthcare

• Affordable accessible healthcare for every American – equal to what members of Congress give themselves.
• Stop insurance companies from discriminating against the sick.

Economy

• Change bankruptcy laws
• Close corporate tax loopholes
• Tax breaks to companies that create jobs at home (rather than outsource)
• Eliminate capital gains taxes for small businesses & start ups
• Eliminate bunk programs in the federal budget
• Reduce taxes for 95% of American families (increase the middle class)

Social Security

• Change it

Equality

• Equal pay for equal days of work

Foreign Policy

• Time frame to remove troops from Iraq

Abortion, Gun Control, Same Sex Marriage

• He quickly noted some sort of hybrid between both sides on these

Change, Hope, etc.

• A lot of it.
  

Have you seen the recent Budweiser “Great American Lager” commercials? You know, the ones that are oozing with everything American – football, tailgating, the Statue of Liberty, riding motorcycles, playing in a garage band, and, of course, a fat slice of apple pie. They’re trying to remind me that their All American beer is still All American. But is it? I’m pretty sure by now we all know the answer is no - Anheuser Busch was bought out by InBev, the Belgian Brewer. The deal, soon to close, will make the new combined company “Anheuser Busch InBev” the largest beer company in the world.

I’ve read quite a bit about Foreign Direct Investment into our banks, our businesses, and our real estate. Below are just some examples of iconic American brands, buildings, even roads that are not so American.

1. The Chrysler Building – In July, the Abu Dhabi Investment Council’s sovereign wealth fund bought a 90% stake in the Chrysler building for an estimated $800 million. The building management will remain under Tishman Speyer Properties, who owns the remaining 10%.  Prior to Abu Dhabi’s purchase, the majority (75%) of the building was owned by TMW, a German real estate fund.
2. Citibank – Remember Prince bin Alwaleed bin Talal? He’s Citigroup’s largest investor, owning about 5% of the firm
3. The Plaza Hotel – The Plaza Hotel, near Central Park, NY, is co-owned by who other than Prince bin Alwaleed bin Talal and Israeli billionaire Yitzhak Tshuva’s El-Ad Group. The hotel’s ownership passed through the hands of the Hilton’s and the Trump’s until Trump sold to the partnership for $325 million in 1995.
4. Essex House in Manhattan – This landmark hotel was bought by the Dubai Investment Group in 2005 and is under management by the Dubai based hospitality group, Jumeriah, which operates the only 7-star hotel in the world, the Burj Al Arab in the UAE.
5. 7-Eleven – Yes, 7-Eleven is a subsidiary of the Japanese company Seven & I Holdings. The company faced financial difficulties in the 80s, and was rescued by one of the franchisees in Japan. In the 90s, Seven & I bid for and received a controlling share of the company.
6. The Chicago Skyway- In 2005, the city of Chicago sold a 99-year lease on the eight-mile Chicago Skyway for $1.83 billion to the Skyway Concession Company, a company jointly owned by the Macquarie Infrastructure Group of Sydney, Australia, and the Cintra Concesiones de Infraestructuras de Transporte of Madrid, Spain. Chicago used the money to pay off debt and fund road projects.
7. Indiana Toll Road - “The Crossroads of America” is owned by the crossroads of Spain and Australia. It’s also owned by Macquarie Infrastructure Group of Sydney, Australia, and the Cintra Concesiones de Infraestructuras de Transporte of Madrid, Spain.
8. Merrill Lynch – The iconic bull down in Battery Park may no longer represent United States’ economic fortitude. In January, ML raised $6.6 billion from the sale of its preferred stock to three foreign investors: Korean Investment Corporation, Japan’s Mizuho Financial Group Inc, and the Kuwaiti Investment Authority.
9. Trader Joe’s – Trader Joe, a manager of Rexall drugs, bought Rexall store chain, changed the name and began offering exotic, environmental, and healthy food. In 1979 ALDI, a German company,  bought out the company.
10. Genentech – The largest biotech firm in America is actually owned by the Swiss. In fact, they just made an unsolicited offer to acquire the 44% of the firm that it does not already own for about $44 billion.

So what gives?
This American “Yard Sale” is the largest it’s ever been. Some of our greatest companies, cities, and builders are welcoming investors from around the world. The reason? It’s the economy, stupid. A weakening economy, huge national and local debt, a housing decline, and, of course, our weak dollar enhances other countries’ purchasing power, and positions the US as eager to be purchased. And eager, we are - last year, there were over 2,000 foreign-led acquisitions of US companies in deals worth about $405.4Billion. Foreign-led mergers and acquisitions have increased sixfold in the last five years.

And it’s all good… Foreign investment helps create more income and provides jobs to Americans. It aids financial institutions that may otherwise collapse. It may have kept the dollar from further decline. The increase in capital helps keep interest rates low so that people can borrow money.

… Until it’s bad.  Though investment into American assets may be helping us now, what happens when the US turns itself around? Once the economy recovers, the money that we are producing will be going to these foreign investors. US. Economist Joseph Stiglitz said it best “If you were to look at America Inc. as a company… the fraction of America Inc. that is owned by Americans is diminishing.” I guess what goes around comes around..