CNBC Sux

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Memo to Record Company Execs

Don’t be afraid to fly coach when your business is tanking. Take a page from Bill Keller, the Executive Editor of the New York Times:

The Times offered buyouts and cut a small number of newsroom employees earlier this year. It also is leaving some positions open.

Those kinds of cuts are rare the Times, which employs more than 1,000 people in its news operation. That number was once common to large dailies, but is shrinking at many papers as advertising revenue declines force cutbacks.

Keller told employees they will have to live on the lean side. “A deep, sustained recession will mean the search for savings and the quest for new revenues continues, that there will be no luxuries and little comfort.”

The same goes for him, Keller noted. “I was flying back from California the week before last and by chance I was seated next to someone from the advertising department of the Times. (In economy class, for the record),” he said.

You can read the entire story right here.

John McCain on Taxes, 8 years ago.

Matt Yglesias is really doing a nice job recently of pointing out the silliness of this “Socialism” meme being coughed up out of the McCain campaign over the past week or so. As Matt points out, here’s a clip of McCain when he was “less crazy” defending the idea that those who make more should have a higher tax rate. Not to mention that around this same time he opposed the Bush tax cuts that Obama wants to reverse. No one was calling McCain a socialist back then…..

Also, Yglesias posted this graph which I thought was pretty telling:

Gotta Get Me Some of That Alaskan Socialism

Marc Ambinder on the hypocrisy of Palin’s “Socialism” charge against Obama:

This socialism thing.
A, it would have been more convincing had McCain opposed the original bailout and not proposed austerity for everyone and then ruled out lots of programs and then proposed lots of new spending.
B – Palin is going on about Obama and wealth redistribution.
Palin taxed oil company profits and cut $1200 checks for every Alaskans.
That’s spreading the wealth. Redistributing some money.
The McCain campaign talks about Palin’s executive experience.
So Obama might have socialistic inclinations… Palin’s gotten it done.

Further more, any kind of tax is a redistribution of wealth. If you don’t like the idea of socialism or any program that remotely resembles socialism, then take your kids out of public schools and never take public transportation. If you got a conviction, then stick to it.

And not to beat a dead horse here but if you make over $250k per year, then you won’t be taxed any more than you would have been under Reagan. Maybe I’m missing the attacks on Reagan’s socialist tax policy.

Earmark Silliness

Again, all this business that McCain spouts about earmarks is so silly. No state elected official should ever apologize for winning federal funds for the benefit of their state. THAT’S THEIR JOB! The irony here is that McCain has been a complete no-show for his own state by adopting this phony, self-righteous view that all earmarks are wasteful. In order to stake out some ridiculous political territory, McCain has gone out of his way to deny Arizona federal funding of any kind for many worthwhile projects. He’s voted in by the citizens of Arizona yet he doesn’t lift a finger to actually improve our state.

And in the debate, the only answer McCain has for turning around our economy is this phony argument that if we just eliminate earmarks, we can turn things around. As you can see above, in the grand scheme of things, it’s a hallow notion. Not that reducing wasteful spending is bad, but it would be nice to have a GOP candidate wise enough to understand the distinction between worthwhile and irresponsible spending. From the looks of things, that’s sadly asking for entirely too much. Again, how Obama does not have a 10 point lead or more in the polls blows my mind.

For more on the graph above, here is the full story.

(HT: Andrew)

Is she looking at note cards?

Wow. I wasn’t aware there was a Republican on the planet who thought healthcare reform is needed to strengthen the economy. But maybe it’s just a case where Palin has no idea what she’s talking about. The McCain campaign should feel terrible for throwing Palin on the national stage when she has no business being there.