Unclear on the Concept
About three-fourths of the 1,580 IRS workers found to have deliberately attempted to evade federal income tax during the last 10 years have nonetheless retained their jobs, according to a May report by the agency's inspector general. Some even received promotions and performance bonuses (although an internal rule, adopted last year, now forbids such bonuses to one adjudged to owe back taxes). [Associated Press via Yahoo.com, 5-6-2015]
Is This a Great Country or What?
Lightly regulated investors' "hedge funds" (the province of wealthy people and large institutions) failed in 2014 (for the sixth straight year) to outearn ordinary stock index funds following the S&P 500. However, at hedge funds, underperformance seems unpunishable -- as the top 25 fund managers still collectively earned $11.62 billion in fees and salaries (an average of over $464 million each). The best-paid hedge fund manager earned $1.3 billion -- more than 48 times what the highest-paid major league baseball player earned. [New York Times, 5-5-2015]
Lead Story
Silicon Valley code-writers and engineers work long hours -- with apparently little time for "food" as we know it. Eating is "time wasted," in the words of celebrity inventor Elon Musk, and normal meals a "marketing facade," said another valley bigwig. The New York Times reported in May that techies are eagerly scarfing down generic (but nutrient-laden) liquids like Schmilk and People Chow, largely for ease of preparation, to speed their return to work. The Times food editor described one product as "oat flour" washed down with "the worst glass of milk ever." "Pancake batter," according to a Times reporter. (That supermarket staple Ensure? According to the food editor, it's "fine wine" compared to Schmilk.) [New York Times, 5-25-2015]
The Continuing Crisis
If Only There Was Somewhere He Could Have Turned for Moral Guidance: Suspended Catholic Monsignor Kevin Wallin, 63, was sentenced in May to more than five years in prison for running a meth distribution ring from Bridgeport, Connecticut, where he also operated a sex shop to launder the drug profits. (Though he faced a 10-year sentence, he had a history of charity work and submitted more than 80 letters of support from high-ranking clergy.) [Associated Press via WTIC-TV (Hartford), 5-7-2015]
The Continuing Crisis
-- America (sometimes called a land of "second chances") gave stockbroker Jerry Cicolani Jr., 69 such chances, before he pleaded guilty in May to selling unregistered securities -- setting up his first overt punishment despite a history of 60-some client complaints made to his then-employer, Merrill Lynch, between 1991 and 2010. The stockbrokers' self-regulating arm (Financial Industry Regulatory Authority) has finally revoked his license, but issued a statement acknowledging that it needed to improve its monitoring. [New York Times, 5-19-2015]
A News of the Weird Classic (March 2011)
Tombstone, Arizona, which was the site of the legendary 1881 Gunfight at the O.K. Corral (commemorated in a 1957 movie), is about 70 miles from the Tucson shopping center where U.S. Rep. Gabrielle Giffords and others were shot in January (2011). A Los Angeles Times dispatch later that month noted that the "Wild West" of 1881 Tombstone had far stricter gun control than 2011 Arizona. The historic gunfight occurred when the marshal (Virgil Earp, brother of Wyatt) tried to enforce the town's no-carry law against local thugs. Today, however, with few restrictions and no licenses required, virtually any Arizonan 18 or older can carry a handgun openly. [Los Angeles Times, 1-23-2011]
Incidentally, we have strong suspicions that the Giffords case was merely more Kabuki theater aimed at destroying the Second Amendment. Suspect it of this new affair in Charleston until proven we know otherwise, OK?
It's just too convenient -- cui bono to the nth degree.
/\/.\/\/.
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