Progress Michigan introduces 'Skunk Works' mascot To Mackinac Conference attendees
Citizens' watchdog group Progress Michigan introduced Pepé Le Voucher, the mascot for Gov. Rick Snyder's secret "Skunk Works" school voucher workgroup, to attendees of the Mackinac Policy Conference on Mackinac Island on Wednesday.
Members of Snyder's administration hadbeen holding secret nighttime meetings with corporations to develop a school voucher plan for Michigan. The group purposefully excluded educators from its discussions, which centered on weakening public education for the benefit of the information technology corporations that would step in to "rescue" schools and make huge profits.
Pepé passed out "privatization stinks" air fresheners to Lansing insiders as they landed via ferry onto the island. Progress Michigan and others are encouraging the governor to stop his secret work groups and clear the air by increasing transparency in state government.
just finished Why I Left Goldman Sachs a wall street story by Greg Smith. 2012 gives a good story format view of what it was like working there, how sachs went off-vision, why it helped create economic chaos.
in 2002 company started getting rid of old guard, the pre IPO partners who somewhat lived by a ethics code of helping the clients, not trying to make money off them
p67 -- background of the VIX volatility index on the chicago board options exchange. VIX is widely followed and traded as a gauge of fear in the marketplace
p107 -- Hank Paulson appointed Sec of the Treasury. (sachs guy) "to avoid conflict of interest while at the gov, he was obligated to sell all his Goldman stock ($500 million) at the top of the market before the crash. also, due to a tax loophole, for accepting gov service he avoided paying capital gains tax"
p125 -- 2007 quant hedge funds' computer models began imploding. "the out of the way securities that the computer models had chosen to unwind were illiquid and since everybody's model was saying the same thing, there were few buyers" the global alpha lost more than 30% that summer, comanagers quit in 09, firm shut it down in 11.
2008 -- bear stearns bought by jpmorgan chase. in 07 trading at 172 share, morgan pd 10
p126 -- elephant trades are those that bring in 1 million or more in profit for sachs. libya gave sachs 1.3 to invest in currencies, $ gone soon
p131 -- company lost sight of old belief "our assets are our people, capital and reputation. if any of these is ever diminished, the last is the most difficult to restore" this became = "if i have to choose between my reputation and my P&L, i choose my profit and loss. because i can ultimately recover my reputation, but if i lose a lot of $, i can't recover that." said by a partner
p136-7 -- how the investmant bank disappeared to become a holding bank that could borrow $ from the gov at 0 interest and then invest it at gov bond rates, is essence making free money. goldman sachs and morgan stanley were now effectively getting paid by the gov just to stay in business
p152 -- "throughout the 2000s, wall st structured complex derivatives to help euro gov such as greece and italy mask their debt and make their budgets look healthier than they actually were. these deals generated hundreds of millions of dollars in fees for the banks, but ultimately helped these countries kick the can, and their problems, down the road. failing to address these problems culminated in the euro sovereign debt crisis that the world is trying to deal w/today." oakland hurt by derivative purchase, jefferson county in alabama brink of bankruptcy from purchase
p162 -- types of clients the 4th = client who doesn't know how to ask questions. "this is the sorriest of the lot, because not only are these clients simple, but they are also trusting. they often are the investment managers who are meant to look after the pensions of cops, firemen and teachers, or they might be running the portfolio of a charity, an endowment, or a foundation. in the brave new wall street that was coalescing during this time of market turbulence, these would be the target of clients for elephant trades"
p163 -- this client might be on sachs top 25 clients because those are ranked by FEES GENERATED not assets under management or return on investment
p230 -- axes = is a position the firm wants to get rid of or a risky position it wants to shore up. the firms believes, deep down, that one outcome is going to transpire, yet it advises the client to do the opposite, so the firm can then take the other side of the trade and implement its own proprietary bet. abacus had been the axe in 2007
p248 -- asymmetric information = "the playing field is not even. the bank can see what every client in the marketplace is doing and therefore knows more than everyone else. if the casino could always see your cards, and sometimes even decided what cards to give you, would you expect it e er to lose? (why some wall street banks make money every day)
p 249 -- "ironically real casinos may actually be better regulated that wall street banks"
in 2002 company started getting rid of old guard, the pre IPO partners who somewhat lived by a ethics code of helping the clients, not trying to make money off them
p67 -- background of the VIX volatility index on the chicago board options exchange. VIX is widely followed and traded as a gauge of fear in the marketplace
p107 -- Hank Paulson appointed Sec of the Treasury. (sachs guy) "to avoid conflict of interest while at the gov, he was obligated to sell all his Goldman stock ($500 million) at the top of the market before the crash. also, due to a tax loophole, for accepting gov service he avoided paying capital gains tax"
p125 -- 2007 quant hedge funds' computer models began imploding. "the out of the way securities that the computer models had chosen to unwind were illiquid and since everybody's model was saying the same thing, there were few buyers" the global alpha lost more than 30% that summer, comanagers quit in 09, firm shut it down in 11.
2008 -- bear stearns bought by jpmorgan chase. in 07 trading at 172 share, morgan pd 10
p126 -- elephant trades are those that bring in 1 million or more in profit for sachs. libya gave sachs 1.3 to invest in currencies, $ gone soon
p131 -- company lost sight of old belief "our assets are our people, capital and reputation. if any of these is ever diminished, the last is the most difficult to restore" this became = "if i have to choose between my reputation and my P&L, i choose my profit and loss. because i can ultimately recover my reputation, but if i lose a lot of $, i can't recover that." said by a partner
p136-7 -- how the investmant bank disappeared to become a holding bank that could borrow $ from the gov at 0 interest and then invest it at gov bond rates, is essence making free money. goldman sachs and morgan stanley were now effectively getting paid by the gov just to stay in business
p152 -- "throughout the 2000s, wall st structured complex derivatives to help euro gov such as greece and italy mask their debt and make their budgets look healthier than they actually were. these deals generated hundreds of millions of dollars in fees for the banks, but ultimately helped these countries kick the can, and their problems, down the road. failing to address these problems culminated in the euro sovereign debt crisis that the world is trying to deal w/today." oakland hurt by derivative purchase, jefferson county in alabama brink of bankruptcy from purchase
p162 -- types of clients the 4th = client who doesn't know how to ask questions. "this is the sorriest of the lot, because not only are these clients simple, but they are also trusting. they often are the investment managers who are meant to look after the pensions of cops, firemen and teachers, or they might be running the portfolio of a charity, an endowment, or a foundation. in the brave new wall street that was coalescing during this time of market turbulence, these would be the target of clients for elephant trades"
p163 -- this client might be on sachs top 25 clients because those are ranked by FEES GENERATED not assets under management or return on investment
p230 -- axes = is a position the firm wants to get rid of or a risky position it wants to shore up. the firms believes, deep down, that one outcome is going to transpire, yet it advises the client to do the opposite, so the firm can then take the other side of the trade and implement its own proprietary bet. abacus had been the axe in 2007
p248 -- asymmetric information = "the playing field is not even. the bank can see what every client in the marketplace is doing and therefore knows more than everyone else. if the casino could always see your cards, and sometimes even decided what cards to give you, would you expect it e er to lose? (why some wall street banks make money every day)
p 249 -- "ironically real casinos may actually be better regulated that wall street banks"
Genesee County poverty: See how your community's poverty rate climbed
The story that hasn't been told: It's suburbs that have seen the steepest increases in poverty.
That's the conclusion of a new nationwide study this week. And figures for Genesee County show the area is a part of the trend.
Here's
a look at the poverty rates in Genesee County communities from 2000 to
2011, based on Census figures. They are ranked from those with the
highest poverty increase to the lowest.
| Community | 2000 | 2011 | Change |
|---|---|---|---|
| Argentine Township | 2.2 | 13.1 | 495% |
| Goodrich Village | 2.7 | 9.5 | 252% |
| Flushing Township | 2.2 | 7.3 | 232% |
| Lennon | 5.2 | 16.8 | 223% |
| Davison | 6.7 | 18.8 | 181% |
| Otter Lake | 7.8 | 20.8 | 167% |
| Clio | 7.9 | 20.2 | 156% |
| Swartz Creek | 6.5 | 14.6 | 125% |
| Grand Blanc Township | 4.2 | 9.3 | 121% |
| Otisville | 6 | 13 | 117% |
| Forest Township | 3 | 6.4 | 113% |
| Mt. Morris | 14.5 | 28.6 | 97% |
| Grand Blanc | 5.5 | 10.3 | 87% |
| Fenton Township | 3.4 | 6.3 | 85% |
| Burton | 8.7 | 16 | 84% |
| Fenton | 6.2 | 11.1 | 79% |
| Gaines Township | 3.6 | 6.4 | 78% |
| Montrose | 7.8 | 13.5 | 73% |
| Thetford Township | 7.4 | 12.8 | 73% |
| Mt. Morris Township | 18.3 | 30.4 | 66% |
| Richfield Township | 5.3 | 8.8 | 66% |
| Davison Township | 6.3 | 10.3 | 63% |
| Mundy Township | 3.7 | 5.7 | 54% |
| Flint Township | 10.4 | 15.5 | 49% |
| Flint | 26.4 | 38.2 | 45% |
| Clayton Township | 5.2 | 7.4 | 42% |
| Genesee Township | 12.8 | 16.7 | 30% |
| Flushing | 4.7 | 6 | 28% |
| Atlas Township | 4 | 4.7 | 18% |
| Linden | 4.6 | 4.9 | 7% |
| Vienna Township | 8.3 | 7.9 | -5% |
| Montrose Township | 11.7 | 10.6 | -9% |
| Gaines Village | 10.3 | 8.7 | -16% |
browsers = internet explorer, safari, chrome, firefox, opera
mobile versions opera mini, google and mozilla make mobile versions of chrome and firefox
legislation that criminalizes agriculture whistleblowers who document wrongdoing at farming facilities have been introduced in AR, CA, IN, NB, NH. NM, PA, TN and WY
ALEC's Latest "Transparency" Move: Asserting Immunity From Freedom of Information Laws
Shortly after the American Legislative Exchange Council (ALEC) told
the press "we really believe in transparency," new documents show the
organization directing legislators to hide ALEC meeting agendas and
model legislation from the public. This effort to circumvent state
freedom of information laws is being called "shocking" and "disturbing"
by transparency advocates.
A disclaimer published at the bottom of meeting agendas and model bills from ALEC's most recent meeting in Oklahoma City, obtained by the Center for Media and Democracy, reads: "Because this is an internal ALEC document, ALEC believes it is not subject to disclosure under any state Freedom of Information or Public Records Act."
"If you receive a request for disclosure of this or any other ALEC document under your state's Freedom of Information or Public Records Act, please contact Michael Bowman, Senior Director, Policy and Strategic Initiatives," it says.
For a private organization to assert that its interactions with state legislators are not subject to public records laws is "shocking," says Mark Caramanica, Freedom of Information Director at the Reporters Committee for Freedom of the Press.
"Private individuals or organizations cannot simply label a document private and say it is private on their own. It is not their decision to make."
Legislators attend ALEC meetings in their official capacity, and ALEC has claimed that they do so "on behalf of and for the benefit of the state." Under almost every state's public records law, all documents related to official business are considered public unless there is a specific exemption, defined and passed by the legislature, and embodied in the statutes. "ALEC cannot create exemptions of [its] own imagination," Caramanica told the Center for Media and Democracy.
The disclaimer is "disturbing," says Christa Westerberg, Wisconsin Freedom of Information Council Vice President, particularly because it "suggests legislators will contact ALEC first when they get a request for records and may be advised by ALEC on what to do."
"Courts and other entities with authority to interpret state sunshine laws, and not ALEC, should determine whether ALEC documents are subject to disclosure under any state's public records law," she told CMD.
ALEC boasts that over 1,000 of its model bills are introduced each year and at least 1 in 5 become law. But despite its significant influence over state law and policy, ALEC conferences are closed to the press and public, and the only way Americans have had any notion of what happens in those meetings is through public records requests for the agendas and model bills.
Even before the "disclaimer" was discovered ALEC and its member legislators had been taking pains to avoid public records requests. Last year, CMD prevailed in a lawsuit against Wisconsin legislators who had tried evading the public records law by shifting their ALEC correspondence to a personal email account (like Gmail or Yahoo), which they erroneously asserted meant the emails were not subject to public records requests. And ALEC has begun sending legislators advance agendas and model bills via a link, which expires within 72 hours, to an Internet drop box where they can access the relevant documents; in many cases, when legislators respond to a request for ALEC records, they only release a scanned copy of the email invitation, rather than the contents of the folder available via the link. It is not known whether legislators refused to release these documents because ALEC asserted its immunity from public records law.
In March, ALEC published some of its model bills online in a move the organization claimed showed its commitment to transparency. "We really believe in transparency," alleged ALEC spokesperson Bill Meierling. But its public records "disclaimer" and other actions indicate the organization is far more interested in maintaining secrecy.
"This certainly raises the question," asks Caramanica, "what are their motives for trying to keep their documents secret?"
ALEC legislators cannot have it both ways. They cannot use public money to attend ALEC meetings -- as the Republican-led South Dakota legislature recently approved -- or claim that accepting corporate-funded flights and hotel rooms for ALEC travel are part of their legitimate work responsibilities, then conspire with ALEC to hide documents and information from their constituents that should be accessible under freedom of information laws.
Note: Mark Caramanica wrote after publication to emphasize that communications between legislators and third parties can in some cases be private, such as in states where the legislature is exempt from the public records law or in cases where communications fall under a statutory exemption. The part that is "shocking" is ALEC's blanket assertion that its communications can never be covered under a state's public records law.
A disclaimer published at the bottom of meeting agendas and model bills from ALEC's most recent meeting in Oklahoma City, obtained by the Center for Media and Democracy, reads: "Because this is an internal ALEC document, ALEC believes it is not subject to disclosure under any state Freedom of Information or Public Records Act."
"If you receive a request for disclosure of this or any other ALEC document under your state's Freedom of Information or Public Records Act, please contact Michael Bowman, Senior Director, Policy and Strategic Initiatives," it says.
For a private organization to assert that its interactions with state legislators are not subject to public records laws is "shocking," says Mark Caramanica, Freedom of Information Director at the Reporters Committee for Freedom of the Press.
"Private individuals or organizations cannot simply label a document private and say it is private on their own. It is not their decision to make."
Legislators attend ALEC meetings in their official capacity, and ALEC has claimed that they do so "on behalf of and for the benefit of the state." Under almost every state's public records law, all documents related to official business are considered public unless there is a specific exemption, defined and passed by the legislature, and embodied in the statutes. "ALEC cannot create exemptions of [its] own imagination," Caramanica told the Center for Media and Democracy.
The disclaimer is "disturbing," says Christa Westerberg, Wisconsin Freedom of Information Council Vice President, particularly because it "suggests legislators will contact ALEC first when they get a request for records and may be advised by ALEC on what to do."
"Courts and other entities with authority to interpret state sunshine laws, and not ALEC, should determine whether ALEC documents are subject to disclosure under any state's public records law," she told CMD.
ALEC boasts that over 1,000 of its model bills are introduced each year and at least 1 in 5 become law. But despite its significant influence over state law and policy, ALEC conferences are closed to the press and public, and the only way Americans have had any notion of what happens in those meetings is through public records requests for the agendas and model bills.
Even before the "disclaimer" was discovered ALEC and its member legislators had been taking pains to avoid public records requests. Last year, CMD prevailed in a lawsuit against Wisconsin legislators who had tried evading the public records law by shifting their ALEC correspondence to a personal email account (like Gmail or Yahoo), which they erroneously asserted meant the emails were not subject to public records requests. And ALEC has begun sending legislators advance agendas and model bills via a link, which expires within 72 hours, to an Internet drop box where they can access the relevant documents; in many cases, when legislators respond to a request for ALEC records, they only release a scanned copy of the email invitation, rather than the contents of the folder available via the link. It is not known whether legislators refused to release these documents because ALEC asserted its immunity from public records law.
In March, ALEC published some of its model bills online in a move the organization claimed showed its commitment to transparency. "We really believe in transparency," alleged ALEC spokesperson Bill Meierling. But its public records "disclaimer" and other actions indicate the organization is far more interested in maintaining secrecy.
"This certainly raises the question," asks Caramanica, "what are their motives for trying to keep their documents secret?"
ALEC legislators cannot have it both ways. They cannot use public money to attend ALEC meetings -- as the Republican-led South Dakota legislature recently approved -- or claim that accepting corporate-funded flights and hotel rooms for ALEC travel are part of their legitimate work responsibilities, then conspire with ALEC to hide documents and information from their constituents that should be accessible under freedom of information laws.
Note: Mark Caramanica wrote after publication to emphasize that communications between legislators and third parties can in some cases be private, such as in states where the legislature is exempt from the public records law or in cases where communications fall under a statutory exemption. The part that is "shocking" is ALEC's blanket assertion that its communications can never be covered under a state's public records law.
Republican bill would ignore education, experience in salary decisions for future educators
Steve Norton, executive director of
Michigan Parents for Schools, testifying Wednesday before the House
Education Committee in opposition to House Bill 4625, which would ban
school districts from considering teachers’ experience and much of their
educational attainment when setting their wages.
The Michigan House Education Committee held a hearing Wednesday on House Bill 4625, which would make teacher performance the “primary” factor in determining pay, as opposed to its current status of being a “significant” factor. Under the bill, teacher performance would be primarily measured by student growth on standardized tests.
Furthermore, districts would be barred from considering teachers’ educational attainment when determining their pay. The only exceptions would be for teachers who hold secondary certificates with a subject area endorsement and who are teaching in that subject area, as well as for elementary school teachers who have an advanced degree in elementary education.
MEA strongly opposes the legislation because it removes incentives for teachers to gain experience and advance their educations. Instead, it will force more teachers to simply teach to the test, while disincentivizing the teaching of long-term critical thinking skills and other subjects that can’t easily be measured on standardized tests.
Testifying in favor of the bill was George Parker, senior policy fellow with the “reform” group StudentsFirst, led by Michelle Rhee, the discredited former chancellor of District of Columbia Public Schools.
Ironically, Parker repeatedly highlighted his 30 years of experience in education to point out his qualifications for testifying in favor of a bill that makes experience in education meaningless.
Steve Norton, executive director of Michigan Parents for Schools, testified in opposition to the bill, saying House Bill 4625 has “unintended consequences.”
Norton said that while “from a parent perspective, we certainly agree that we want effective teachers in every classroom,” standardized tests do not “necessarily measure the crucial things we want our children to get out of public education.”
“We need to think a little more broadly of what qualifications mean and how we evaluate teachers, especially when you have teachers who are teaching multiple subject areas at the same time,” Norton said.
“We’ve run into very few teachers who aren’t trying hard enough, who aren’t working hard enough,” he said.
Opponents of evaluating teachers primarily on standardized test scores rightfully point out that it pits teachers against one another, as they compete for a finite pool of job positions and wages.
Norton agreed, saying “education is not an individual effort” and that educators should collaborate, not compete.
The House Education Committee is tentatively scheduled to meet again on Wednesday, May 15 at 10:30 a.m. MEA members are encouraged to contact their legislators and ask them to support education and experience and oppose House Bill 4265.
Sanford = "I want to publicly acknowledge God's role in all of this."
