Autumn in the City

Autumn has arrived; the cider and donuts are the best at the Franklin, Michigan Cider Mill, Laura Verbal has the fall seasonal craft beers on tap at Pizza N’ Such, women and men still wear leopard pattern clothing, the Detroit Lions continue to get our hopes up but as always will greatly disappoint us, Faculty meetings are in full force – egos are the rule, cool crisp mornings and warm sunny afternoons make golf the best this time of year, the City of La Verne continues to have a Farmers’ Market without any “real” Farmers, politicians continue to make promises and excuses, technology continues to shape our lives, and the hypocrisy of professional and big time college sports continues to get even worse, it is a bit too early to get into the new hockey season but NHL Centre Ice has been purchased, undergraduate students are beginning to figure out that Mom and Dad cannot help them any more with their homework, graduate students are beginning to figure out that their financial aid is coming to an end and now it is time to find a job, this is the best time of year to have a late Saturday afternoon pizza and a cold mug of Labatt Blue at The Beach Bar on Michigan’s Clark Lake, and the LA County Fair is finally coming to an end.

 Such is the state of Autumn in the City.

SCOTLAND SAYS EMPHATIC "NO" TO INDEPENDENCE - Scottish voters strongly rejected a referendum to divorce itself from the rest of the United Kingdom, a result that will come as a huge relief to the White House and Wall Street. Washington policy makers feared that a spilt would spark political chaos in the UK, distracting the United States' top ally at a time of major geopolitical uncertainty and a fresh military campaign in the Middle East.

While some on Wall Street stood to gain from Scotland-inspired volatility, many analysts and market players worried about the longer term impact of a splintered UK on the European and global economy. Those worries are now gone. The BBC officially called the election at 12:17 a.m. EST (5:17 a.m. in Scotland). With 30 of 32 councils reporting at 1:10 a.m. EST, "No" had 1,877,252 (55.4 percent) and "Yes" had 1,512,688 (44.6 percent). Fife made it official.

CLAREMONT WATER – Rink Rats will vote “No” on the water ballot come this November. RR will probably be on the losing side but our conscious will be sound. Local governments should not run businesses, yes, some do, the City of Pasadena for one. But they have been doing this for decades. The City of Claremont will have to hire and spend to manage this utility with very little expertise and experience. Does the taxpayer of the city want to pay for all this? The City of Claremont now is in a boom period, tax bases are growing, new visitors are flocking to the City to spend money. Why ruin a good thing with increased City costs and borrowing.

Rink Rats agrees Golden State Water has done a poor job, but to warrant a change in bureaucracy, we say no.

TECHIE WATCH-- How Many Times A Day Do You Check Your Phone? Checky Will Tell You: This very basic app simply shows you how many times per day you've checked your phone, and maps out where that usage occurred. Love the screengrab. http://tcrn.ch/1p207F6

The app: http://bit.ly/YUgsWI

COLLEGE CHRONICLES – UNDERMINING PELL: Even as some policymakers have moved to expand Pell Grants, college financial aid practices are leaving the neediest students with potentially unmanageable costs, a New America Foundation report says today. Hundreds of colleges expect their neediest students to pay a net price amounting to at least half their families' yearly earnings, the report says, and the problem is growing. More private nonprofits are charging higher net prices for low-income students while providing deep discounts to wealthier students, and public colleges are making up for lost government funding by adopting similar tactics. Even private colleges with large endowments are being stingy with need-based aid, opting to use aid to attract top students instead.

Boston becomes first city to require safety measures for college athletes. CBS Sports: http://cbsprt.co/1r2aTzK

MIXED BAG FOR GRADUATE ENROLLMENTS: Graduate schools saw a 1 percent increase in first-time enrollments between fall 2012 and fall 2013, a new report finds, with more than 459,000 students entering graduate certificate, education specialist, master's or doctoral programs in fall 2013. However, the Council of Graduate Schools and Graduate Record Examinations Board report also shows a 0.2 percent decline in total graduate enrollment - following a 2.3 percent decline the previous year - to about 1.7 million students in fall 2013. First-time enrollment of U.S. citizens and permanent residents shrank by 0.9 percent, but temporary residents more than made up for it with an 11.5 percent increase. And while first-time enrollments among Hispanic students saw a boost, other underrepresented groups, as well as white students, moved in the opposite direction.

SYLLABUS – Executive Director of Finance, St. Lawrence University

Reporting directly to the Vice President for Finance & University Treasurer, the Executive Director will support the Vice President by providing strategic leadership to the department of Planning, Analysis & Decision Support. The Executive Director is someone who recognizes that analysis, figures, and forecasts represent the underlying activities in the University's community and works as a partner with University colleagues to prepare and implement budgets, financial projections and analysis that clarify and enable decision-making, and strengthen the University's position as a leader in liberal arts education. The Executive Director provides oversight of: the annual operating budget of $175 million and capital budget cycle; the development of associated financial targets; the assessment of forecast/budget versus actual results; and other financial and/or operational analysis.

The Executive Director for Finance must possess a strong educational background in finance and/or accounting. A bachelor's degree is required, an advanced degree is preferred. A financial professional designation such as a CFA, CMA or CPA is desirable but not required. Candidates will have a minimum of five years' experience, 10 years preferred, in finance, financial planning and analysis, ideally in a sophisticated higher education environment. Experience from commercial service industries, including healthcare, is also welcomed.

https://chroniclevitae.com/jobs/0000847267-01?cid=ja

BIRTHDAYS THIS WEEK – Birthday wishes and thoughts this week to: Cynthia Denne …famous Health Manager, Michael Douglas (70), Catherine Zeta-Jones (45), Steve Largent (60), Tommy Lasorda (87), Lute Olson (80), Bruce Springsteen (65), Julius Walecki …famous Beach Volleyball player, Barbara Walters (85).

ALIBABA GETS $21.8 BILLION IN IPO - Shares officially start trading last week, but the figures it pulled in last Friday make its initial public offering the biggest ever in the U.S.: The staggering amount made Facebook's $16 billion IPO two years ago look puny by comparison. The offering bolsters the wealth and prominence of Alibaba founder Jack Ma, a former English teacher and already the richest man in China. He was at the stock exchange Friday to ring the opening bell. The IPO is also a windfall for Yahoo and Japan's SoftBank, which have sizable stakes in the company.

Alibaba is the largest e-commerce company in the world and is often described as larger than Amazon and eBay combined, though it isn't well-known among U.S. consumers.

Alibaba opened trading at $92.7 per share - a whopping 36 percent jump from the $68 its investors paid during its IPO Thursday night. And things aren't over yet - Alibaba can still exercise an option to make 15 percent more shares available to institutional investors at the IPO price, which could up its IPO take to $25 billion. That would make its IPO the largest in the world. There are 30 days to exercise that option. Right now, Alibaba has said it will use its new cash to bolster its Chinese businesses - but there's no doubt that the splash it made Friday is making other tech giants a little jumpy.

FORE - World Golf Rankings on Sep 22, 2014...

 # 1    Rory McIlroy,  N. Ireland

 # 2    Adam Scott,  Australia

 # 3    Sergio Garcia,  Spain

 # 4    Henrik Swensen,  Stenson   

 # 5    Jim Furyk, USA  

 # 6    Justin Rose,  England      

 # 7    Bubba Watson,  USA      

 # 8    Jason Day,  Australia  

 # 9    Matt Kuchar,  USA      

 # 10    Ricky Fowler,  USA   

                                                       

COLLEGE FOOTBALL PICK OF THE WEEK – Thursday 9/25, 10:00 PM ET, ESPN: #11 UCLA Bruins (3-0) at #15 Arizona State Sun Devils (3-0). A huge Pac-12 opener for both clubs, ASU in an upset, 24 – 17.  Season to date (3-1)

SMALL COLLEGE FOOTBALL PICK OF THE WEEK – Saturday 9/27, 1:30 PM ET, BRAVO: #19 Ithaca College Bombers (2-0) visit Alfred Saxons (3-0). A huge E8 Conference matchup at Merrill Field (see below), we like the Saxon Warriors (Roger Auerbach famous Alumnus) 28 – 24.  Season to date (2-1)

NFL PICK OF THE WEEK – Sunday 9/28, 4:30 PM ET, Fox: Philadelphia Eagles (3-0) at San Francisco 49ers (1-2). 49ers lose their season is in Big Trouble, they don’t 49ers 32 Eagles 24.  Season to date (1-2)

THE SWAMI’S WEEK TOP PICKS –

(NCAA, Sept. 27) Arkansas Razorbacks (3-1) 17 at #6 Texas A&M Aggies (4-0) 35

(NCAA, Sept. 27) Cornell University Big Red (0-1) 14 at Bucknell Bisons (3-0) 28

(MLB, Sept. 27) Kansas City Royals (85-71) 4 at Chicago White Sox (72-84) 2

(NFL, Sept, 28) New Orleans Saints (1-2) 35 at Dallas Cowboys (2-1) 28

(Ryder Cup, Sept. 26-28) U.S.A. 10 ½ at Europe 17 1/2

Season to date (49 - 42)

DRIVING THE WEEK - President Obama will travel to NYC this week to preside over a meeting of the UN Security Council ... Treasury Secretary Jack Lew speaks on climate change at 4:00 p.m. today at Brookings ... Existing home sales this morning at 10:00 a.m. expected to rise 1 percent to 5.20M pace ... New home sales Wednesday at 10:00 a.m. expected to rise to 430K pace from 412K ... Q2 GDP third estimate Friday at 8:30 a.m. expected to rise to a robust 4.6 percent ... Univ. of Michigan consumer sentiment at 9:55 a.m. Friday expected to rise to 84.7 from 82.5.

There are 100 days left in the year -- what's one goal you could accomplish? ... To tell your kids: This is the first day of fall. Summer ends at 10:29 Monday night - the autumnal equinox. ... Rosh Hashanah, the Jewish New Year (5775), begins at sundown Wednesday. ... Two big anniversaries on Saturday: 50 years since the Warren Commission released its 888-page report concluding that the assassination of President Kennedy was the work one man ... and 20 years since Newt Gingrich and his House Republicans unveiled the Contract with America on the steps of the Capitol, six weeks before the Republican Revolution of 1994.

Next week: Jack Ass of the Month and  Fashion Week.

Until Next Monday, Adios.

Claremont, CA

September 22, 2014

#V-23, 232

CARTOON OF THE WEEK – Dilbert

The Demise of the Daily Newspaper

I like newspapers, every morning I receive The Los Angeles Times, The Wall Street Journal, and The Inland Valley Daily Bulletin. Every weekend I also receive The New York Times and The Claremont Courier. Do I read them all every day, no, but do I enjoy READING them, yes.

Reading newspapers reduces my stress, slows my day down, is easy on my eyes, and provides concise information about the world around me. Can I get this from an iPad, iPhone, Fox News, KNX radio, CNN? Yes I can, but it is not as fun.

Digital First Media, a struggling collection of 76 daily newspapers including The San Jose Mercury News, The Los Angeles Daily News, The Denver Post and The St. Paul Pioneer Press, has put itself up for sale. The company, which is the nation’s second-largest newspaper company as measured by circulation, was expected to be sold at some point because it was owned by the hedge fund Alden Global Capital. But John Paton, Digital First’s chief executive, said in a statement that it made sense to sell the newspapers now because of the radical changes taking place in the media industry.

The need to consolidate to compete in a digital world is forcing the industry to define its future. Bankruptcy, selling off holdings is now the norm in the industry. Last year, News Corporation put its newspapers into a separate print company. In August, the Tribune Company’s publishing division, which includes well-known newspapers like The Chicago Tribune and The Los Angeles Times and underwent years of bankruptcy proceedings, became a separate company. Gannett Company also announced a split last month into a separate print and broadcasting companies.

It is a difficult time to sell newspapers because most of the traditional buyers are not buyers of newspapers anymore. Who are the buyers? Amazon, hedge funds, private equity funds, mainly those corporations looking for vehicles for their digital holdings.

What does the future hold for this industry? In all likelihood, dramatic changes and the end of daily print editions, I am glad I will not be around to see that.

Did you know the average adult uses four different devices or technologies to access news in a given week? In today's media landscape, readers are changing the way they access and interact with newspaper media content. And newspapers continue to innovate and transform, reaching new audiences and discovering new revenue streams.

SCOTCH OR IRISH WHISKEY? – After more than 300 years of being treated like a poor relative by the English, Scotland votes this week on a referendum for independence from the United Kingdom. Our pick – the Scots vote Yes, and head off into the land of “Braveheart”.

POLLS SHOW CLOSE CALL IN SCOTLAND - Thousands of independence supporters took to the streets of Scotland's largest city, Glasgow, on Sunday as polls showed the rival camps running desperately close just five days before a referendum which could bring the break-up of the United Kingdom. ... Separatist and unionist leaders worked across the country to woo undecided voters among the four million Scots and Scotland residents who will vote on their future on Thursday. Scottish National Party leader Alex Salmond, who has spearheaded the drive for independence, said he was confident the 'Yes' campaign would win. ...

Alistair Darling, a former British finance minister and leader of the 'Better Together' campaign, warned that if Scots vote to split from the United Kingdom, it would be an irreversible decision that would bring economic doom and gloom. With promises from British political leaders of greater powers for Scotland in the event of a 'No' vote, Scots could have the best of both worlds, Darling said. And Queen Elizabeth, coming out of a Sunday morning church service near her Scottish residence Balmoral, told a well-wisher she hoped Scots would think very carefully about the future.

COLLEGE CHRONICLES – Student Loan Debt Senior Citizen Style: An estimated two million Americans age 60 and older are in debt from unpaid student loans, according to data from the Federal Reserve Bank of New York. The number of aging Americans with outstanding student loans hs almost tripled from about 700,000 in 2005, whether from long-ago loans for their own educations or more recent borrowing to pay for college degrees for family members.

The debt among older people is up substantially, to $43 billion from $8 billion in 2005. As of July 31, money was being deducted from Social Security payments to almost 140,000 individuals to pay down their outstanding student loans, according to Treasury Department data.

While older debtors account for a small fraction of student loan borrowers, who have accumulated $1 trillion in such debt, the effect of owing a constantly ballooning amount of debt but having a fixed income can be onerous. Many elderly fall below the poverty line when debt is deducted from their Social Security.

LATE-NIGHT BEST: "John Oliver Talks Student Debt and Goes After For-Profit Colleges" http://slate.me/WJlGCU

HOT ONLINE -- "Top Colleges That Enroll Rich, Middle Class and Poor," by NYT Upshot's David Leonhardt: "To see which selective colleges are doing the most, and the least, to [have economically-diverse students,] The Upshot has analyzed data for every college with a four-year graduation rate of at least 75 percent ... by combin[ing] data on enrollment and tuition costs." http://nyti.ms/1p0H90N

 ...The 10 "Most Economically Diverse Colleges": Vassar ... Grinnell ... U.N.C.-Chapel Hill ... Smith ... Amherst ... Harvard ... Pomona ... St. Mary's (Ind.) ... Susquehanna http://nyti.ms/1lPAhs6

RANKINGS WITH A TWIST: Pushing back against college rankings that focus on prestige, the New York Times on Monday published a "college access index" that lauds institutions for their ability to attract underprivileged students. Vassar College took the top spot, followed by Grinnell College, the University of North Carolina at Chapel Hill and Amherst College. Harvard rounded out the top five. In an article accompanying the new rankings, editor David Leonhardt also called out institutions that don't enroll many low-income students - such as Washington University in St. Louis, where Pell Grant recipients made up just six percent of the recent freshman class.  http://politico.pro/1pJrXFu

- It's no coincidence the access index came out one day before U.S. News & World Report unveils its Best Colleges list - which is always criticized but also highly anticipated. One big change this year: U.S. News is publishing crime data on each school's profile page. But despite requests from victim advocates and even from some members of Congress, those statistics weren't factored into the annual rankings. (U.S. News also published three-year federal loan default rates - but didn't factor that into the rankings, either.) The source for the crime data is the Education Department's Campus Safety and Security Data Analysis Cutting Tool [ http://1.usa.gov/1ug0DVF]

It breaks down incidents by type of crime, including forcible and non-forcible sexual offenses. Find all the rankings info here: www.usnews.com/colleges

- Worth noting: A few of the top-ranked national universities and liberal arts colleges are among the 77 being investigated by the Education Department's Office for Civil Rights for Title IX violations. They include Princeton, Harvard, Amherst and Swarthmore.

- Other notables: Pennsylvania State University fell 11 spots. Williams College has topped the list for best liberal arts colleges 12 years in a row. The University of California, Berkeley, is the nation's top public school. And Dartmouth College didn't make the top 10 of best national universities. As far as Colleges of specific interest to this author: St. Lawrence University and The University of Michigan have publicly announced their rankings, but The University of La Verne has been very quite, interesting.

THIS BUD IS FOR YOU - Anheuser-Busch InBev (BUD) is said to be talking to banks about financing what could be a $122 billion deal to buy beer rival SABMiller, which just got rebuffed in its takeover bid for Heineken.

FINANCE 101 - Alibaba is on track to debut this Friday, in what could be the world's largest ever initial public offering.  Many of them are likely to become big winners in an IPO that could raise $25 billion. Yesterday the company raised the deal's price range to $66-$68 per share, up from $60-$66—a strong indication of robust investor demand. Meanwhile, if you do wind up with Alibaba stock, be prepared for a volatile ride.  You will get a clearer sense of what to expect from the IPO if you think of it not as a unique case but rather as part of a class, meaning a broader set of similar companies. This e-commerce behemoth founded by Jack Ma in 1999 should be interesting to watch over the next month or so.

FACEBOOK VALUE TOPS $200B - Facebook's market value exceeded $200 billion to put it among the world's biggest corporations, as investors bet on the company to capitalize on the future of mobile advertising. Facebook shares rose 0.8 percent to $77.89 ... valuing the company at $201.6 billion ... That made it the 22nd-largest company in the world, behind Verizon Communications Inc. and ahead of Toyota Motor Corp. .... The stock's rise has boosted [Mark] Zuckerberg's wealth to $34.5 billion.

BIRTHDAYS THIS WEEK – Birthday wishes and thoughts this week to: Bill Murray (64), Dan Pugliese …how old is he???, Ava Suffredini …famous little Princess, Matt Witt …famous fan of POTULV.

DEAR RINK RATS –

Our son, who is in his 30s, posts online about major events in his life. But my husband and I don’t want to be part of his general audience on social media. We don’t read his blog or follow him on Twitter or Facebook. So, we are often the last to know about important events in his life because social media is his primary means of communicating with us. How should we let him know that we want to hear his news personally and directly from him?

Signed,

Old School

Dear Old School,

Whenever you are hunting for a loving model of parental behavior, take a gander at “Mommie Dearest,” Christina Crawford’s lurid memoir of growing up with her movie-star mother, Joan — then do the opposite. When Christina had it (as you seem to have) with her mother’s playing their domestic life for the cameras, she screamed, “I am not one of your fans!” Don’t do that.

Instead, propose a weekly Skype session with your son. Adding a techie component to the traditional weekly phone call may appeal to him. But my stronger hope is that you find a way to stop feeling slighted by your son’s use of social media. It is not about you. And it’s not reasonable to expect a preview of every semi-momentous post in advance (“Just rode my bike with friends to the Seal Beach Pier”).

Think of your son as a newfangled memoirist. That’s what his blog and social media posts are aiming for. And read them. What better way to show him that you’re interested in his life? It may even increase the likelihood of greater (and warmer) communication with you. Otherwise, you are sending a message that he may interpret as indifference. And who wants to talk with a mean mommy or daddy?

Also, tell your son to get a freaking life!

Signed,

Rink Rats

COLLEGE FOOTBALL PICK OF THE WEEK – Thursday 9/18, 7:30 PM ET, ESPN: SEC vs. Big 12 - #5 Auburn Tigers (2-0) at #20 Kansas State Wildcats (2-0). SEC too tough, Auburn 32 K State 24.  Season to date (2-1)

SMALL COLLEGE FOOTBALL PICK OF THE WEEK – Saturday 9/20, 12:00 PM ET, HGTV:  The 42^nd annual Admiral’s Cup from Buzzards Bay, Mass. Maine Maritime Mariners (1-0) vs. Massachusetts Maritime Buccaneers (0-1). The Mariners in a romp, 45 – 17. Season to date (2-0)

NFL PICK OF THE WEEK – Sunday 9/21, 4:30 PM, CBS:  Denver Broncos (2-0) at Seattle Seahawks (1-1). Hawks are unstoppable at home, sorry Peyton, remember the Super Bowl: Seattle 35 Broncos 21. Season to date (0-2)

THE SWAMI’S WEEK TOP PICKS –

(NCAA, Sept. 20) California Golden Bears (2-0) 20 at Arizona Wildcats (3-0) 30

(NCAA, Sept. 20) Whitworth Pirates (2-0) 42 at La Verne Leopards (1-0) 21

(MLB, Sept. 20) Detroit Tigers (84-66) 5 at Kansas City Royals (82-67) 4

(NFL, Sept, 20) Green Bay Packers (1-1) 24 at Detroit Lions (1-1) 17

Season to date (46 - 41)

DRIVING THE WEEK - Empire State Survey this morning at 8:30 a.m. expected to rise to 15.9 from 14.7 ... Industrial production at 9:15 a.m. expected to rise 0.3 percent ... Consumer prices at 8:30 a.m. Wednesday expected to be flat headline and up 0.2 percent core ... FOMC announcement at 2:00 p.m. Wednesday expected to include no change in rates and another $15B cut in asset purchases ... Yellen presser at 2:30 p.m. not expected to produce big headlines but you never know ... Scotland votes on independence Thursday with "no" expected to prevail. Should he "yes" side win markets could go nuts for a few days while everyone sorts out what it all means. ... Index of leading indicators at 8:30 a.m. Friday expected to rise 0.4 percent ... Congress expected to pass a CR funding the government past Oct. 1 and possibly extending the Ex-Im bank unit either December or June (or perhaps longer) ... Alibaba expected to price its earth-shaking IPO Thursday and start trading Friday.

Next week: Fall is here, and what to do with the water company.

Until Next Monday, Adios.

Claremont, CA

September 15, 2014

#V-22, 231

A History Buff

I love history, I am a firm believer that to study history you prepare for the future. With the Ken Burns series “The Roosevelts” beginning on PBS this week I thought I would look over Doris Kearns Goodwin wonderful work on “The Bully Pulpit”.

Eight years ago Doris Kearns Goodwin set out to mine one of the richest veins in American history, the progressive movement and its bully-pulpit spokesman, Theodore Roosevelt. But as she examined the period she came to realize that there were two other strands, indispensable but not inevitable, to the story.

One was William Howard Taft, often regarded as a historical afterthought or worse, a discordant coda to the TR era. The other was the muckraking press, celebrated in journalism schools but often relegated to a few respectful asides in general histories. Goodwin put all three at the center of her new history, “The Bully Pulpit: Theodore Roosevelt, William Howard Taft, and the Golden Age of Journalism” and has created a thoroughly engaging work.

Journalists played a role in Roosevelt’s life that has no analogue in American history, accompanying him to Cuba and creating the Rough Rider myth and mystique; fueling his progressive impulses; and performing the role of Greek chorus when he was president and, just as important, ex-president. In inclination, temperament, and habits, he was one of them, and vice versa.

Taft was Roosevelt’s boon companion, in spirit if not in style. An ardent progressive and reformer he was, unlike Roosevelt, introspective, restrained, a man of thought rather than action, all befitting his career — no, more than that, his identity — as lawyer and judge. He trod carefully, but he also trod on the Roosevelt legacy, and the combination shattered the great progressive coalition and ended perhaps the greatest presidential friendship in history.

It was telling, Goodwin says, that at the very time TR was being celebrated in the press upon his return from his post-White House trip to Africa that Taft was being “hammered’’ by the press. But Taft lacked the zip of his predecessor, and his openness to conservative Republicans unnerved the progressives and their own boon companions in the press.

The muckrakers committed no such betrayal. An important figure in this period, and in “The Bully Pulpit,’’ is Samuel S. McClure, editor, entrepreneur, and, above all, visionary prophet of progressivism. He introduced America to Rudyard Kipling, Robert Louis Stevenson, and Arthur Conan Doyle — and to a new kind of journalism, one that investigated as well as illuminated, which was where (and how) Ida Tarbell, Ray Stannard Baker, Lincoln Steffens, and William Allen White came into the story, and into history. “Their disclosures of the corrupt linkages between business, labor, and government educated and aroused the public,’’ Goodwin writes, “spearheading the Progressive movement that would define the early years of the twentieth century.’’

Though Goodwin artfully establishes the influence the muckrakers had on Roosevelt and the influence he had on them, the effort to make this connection the thread that holds together a 910-page book sometimes seems forced. That said, “The Bully Pulpit’’ is, like so many of her books, carefully researched, amiably written, and appealingly presented. The result is an engaging tour of an important passage in American life.

It is true that several of these journalists’ pieces prompted meetings with Roosevelt: Baker on immigration and corruption; Steffens on what he called the “Shame of the Cities’’; and Upton Sinclair on the meatpacking and stockyard disgraces he detailed in “The Jungle.’’

Eventually McClure was summoned to the White House also, and the two men talked until midnight. Later, TR would ask Baker to review his annual message on American corporations; the writer would offer a frank critique: “It was too general, there was too much of the President’s favorite balancing of good and evil.’’

These muckrakers were creatures without precedent in America, and as a result of their work, as Baker argued, “men were questioning the fundamentals of democracy, inquiring whether we truly had self-government in America, or whether it had been corrupted by selfish interests.’’

This was a critique completely congruent with Roosevelt, and yet it was the president, alluding to John Bunyan, who first made the term muckraker a pejorative, saying that the bearers of the muck rake were comparable to “the man who in this life consistently refuses to see aught that is lofty, and fixes his eyes with solemn intentness on that which is vile and debasing.’’

That was one TR misstep. Another came in 1904, when he prematurely and unnecessarily renounced a 1908 re-election campaign. And, from his point of view, he erred, too, in having wanted a Taft presidency more than did Taft, and his later disillusion with Taft propelled Woodrow Wilson into the White House in the fabled four-way contest of 1912.

Roosevelt didn’t understand that a conservative tide was rising, possibly because of fatigue with progressivism and TR himself, possibly because the eclipse of the muckrakers that Roosevelt had himself set in motion. That partially explains the administration of Taft, who had the progressive roots of Roosevelt but not his predecessor’s instincts or turn of mind. “Taft had long considered himself a moderate progressive, aligned almost perfectly with the sentiments and policies of his old friend,’’ Goodwin writes. “In the throes of the brutal campaign, however, he had withdrawn increasingly from more progressive ideas.’’

But that is after their grand split. Beforehand, they were an incomparable pair in American politics. This book reminds us, as Goodwin puts it, that “there was a time, at the height of their careers, when Theodore Roosevelt and William Howard Taft stood shoulder to shoulder as they charted a different role for the U.S. government that would fundamentally enlarge the bounds of economic opportunity and social justice.’’ It is a story worth telling, and one well told.

THE SUMMER in one sentence: Islamic State terrorists seized Mosul and massacred Shiite soldiers in open pits, Russian separatists shot down a civilian jetliner, ... Bashar Assad's forces in Syria came close to encircling Aleppo with the aim of starving the city into submission, a brave American journalist had his throat slit on YouTube by a British jihadist, Russian troops openly invaded Ukraine, and Chinese jets harassed U.S. surveillance planes over international waters.

--And that doesn't include ... Gaza, Ferguson, Afghan elections or U.S. to Iraq.

RINK RATS AT THE MOVIES - The movie industry suffered its worst May-to-Labor Day season since 1997, after adjusting for inflation. U.S. ticket sales dropped 15% compared with last summer. It was a disappointment for an industry that had hoped movies with giant robots, mutants and talking apes would follow up last year's stellar season with another blockbuster summer.

FALL MOVIES - Led by 'Unbroken' (Dec. 25), this year's fall is a battlefield of war stories, including Jolie's (new) husband Brad Pitt on the Western Front in 'Fury' (Oct. 17), a WWII drama about a tank of American soldiers. Clint Eastwood also returns for his second film this year with 'American Sniper' (Dec. 25), starring Bradley Cooper as an elite Navy SEAL marksman. ... In 'The Interview' (also Dec. 25) from Seth Rogen and his directing partner Evan Goldberg, Rogen and James Franco play journalists asked by the CIA to assassinate Kim Jong-un. ... [Other films this fall include:] 'Rosewater,' Jon Stewart's adaptation of Maziar Bahari memoir about being imprisoned for 118 days for reporting for Newsweek on the 2009 Iranian elections. ... Reese Witherspoon drama 'Wild' (Dec. 5) ... 'Gone Girl' (Oct. 3), an adaptation of the best-selling Gillian Flynn novel, starring Ben Affleck.

LOS ANGELES AIR WAVES – KFWB (980) switching to all-sports format as AM radio fights for survival, AM radio, the scratchy medium that long ago aired Franklin Delano Roosevelt's fireside chats, soap operas and the day's most popular music, is trying to avoid becoming static. Across the country, stations are vying to hold on to listeners as AM radio's audience slowly dwindles. ... Last year its share of the national radio audience was 11.5%.

COLLEGE CHRONICLES – We honor the five St. Lawrence University alumni who were lost in the September 11 attacks on the World Trade Center towers:

Robert J. ‘Bobby”Coll ‘88

Catherine Gorayeb ‘82

Christopher Morrison ‘89

Michel “Mike” Palletier ‘88

Richard H. “Richie” Stewart, Jr. ‘89

Outreach Education - 4,000 Starbucks employees apply for the company's plan with Arizona State University. The Arizona Republic: http://bit.ly/1lyDHPY

Harvard University's School of Public Health receives its largest donation ever. A $350 million gift pledged to Harvard University's School of Public Health is the largest single donation in the university's long history, officials said, and will help bolster research in several key areas including global pandemics. The donation, to be formally announced Monday, comes from a philanthropic foundation established by the family of T.H. Chan, a Hong Kong real estate developer who died in 1986.

In a rarity for Harvard, the school will be renamed the Harvard T.H. Chan School of Public Health. The only other school within the university to bear an individual's name is the Harvard Kennedy School, named for John F. Kennedy.

BIRTHDAYS THIS WEEK – Birthday wishes and thoughts this week to: Jacqueline Bisset (70), Arnold Palmer (85), Joe Theismann (65).

WORDS OF THE MONTH –

svelte \SFELT\, adjective:

1. Slender, especially gracefully slender in figure.

2. Suave; blandly urbane.

“When I walk under one of the pathway lamps and look down you can indeed see the silhouette of my body which doesn’t look quite as svelte and hourglassy as I believe it did just an hour ago when I was admiring myself in the mirror”. -- Terry McMillan, How Stella Got Her Groove Back

descansado, adjective

rested, refreshed; restful, quiet

Descansado is the adjective derived from the verb descansar, to rest. As we’ve seen with words such as aburrido, its meaning changes according to whether you use it with ser or estar. In both cases there is a link with the idea of ‘rest’.

“La jornada ha sido de las más descansadas”. It’s been a very relaxing or restful day.

COLLEGE FOOTBALL PICK OF THE WEEK – Saturday 9/13, 3:30 PM ET, Fox: #6 Georgia Bulldogs (2-0) visit #24 South Carolina Gamecocks (1-1). It is early in the season but this is a huge one for The Gamecocks, lose and their season is history; South Carolina 35 Georgia 32.  Season to date (1-1)

SMALL COLLEGE FOOTBALL PICK OF THE WEEK – Saturday 9/13, 7:00 PM ET, HGTV:  Redlands Bulldogs (0-0) visit #2 Mary Hardin-Baylor Crusaders (1-1). A tough task for SCIAC power Redlands in Belton, Texas. The Crusaders roll 45 to 17. Season to date (1-0)

NFL PICK OF THE WEEK – Sunday 9/14, 1:00 PM, CBS:  Miami Dolphins (1-0) at Buffalo Bills (1-0). Both surprise winners opening weekend, we like Miami over Buffalo, 24 – 17. Season to date (0-1)

THE SWAMI’S WEEK TOP PICKS –

(NCAA, Sept. 13) #12 UCLA Bruins (2-0) 40 at University of Texas Longhorns (1-1) 28

(NCAA, Sept. 13) University of La Verne Leopards (0-0) 28 at George Fox University (0-1) 21

(MLB, Sept. 13) Los Angeles Dodgers (81-62) 3 at San Francisco Giants (78-65) 6

(NFL, Sept, 14) Chicago Bears (0-1) 10 at San Francisco 49ers (1-0) 35

Season to date (44 - 39)

DRIVING THE WEEK - Treasury Secretary Jack Lew at 8:45 a.m. this morning "will deliver remarks at the Urban Institute on the state of the economy and the need for comprehensive business tax reform" ... Congress returns for a brief pre-election session. Don't look for much to get done. Best Congress will do is pass a CR to keep the lights on through the rest of the year. The rest will all be posturing for November. President Obama's decision to put unilateral immigration policy reform on hold means there will (almost certainly) be no shutdown ... Obama gives a big speech on Wednesday laying out his strategy to defeat ISIS ... Senate Banking Committee holds a big regulatory oversight hearing on Tuesday at 10:00 a.m. ... House Financial Services has a hearing Wednesday at 2:00 p.m. on the credit reporting system ... Obama and Vice President Biden meet this afternoon with Lew in the Oval Office ... Consumer credit at 2:00 p.m. expected to expand by $20B up from $17.3B ... NFIB survey on Tuesday at 7:30 a.m. expected to rise to 96.5 from 95.7 ... JOLTS report Tuesday at 10:00 a.m. expected to show job openings up to 4711K from 4671K ... Retail sales at 8:30 a.m. Friday expected to rise 0.5 percent, 0.2 percent ex-autos ... Univ. Michigan consumer sentiment at 8:30 a.m. Friday expected to rise to 83.5 from 82.5 ... Alibaba Group executives hit the road to see investors on their planned $21 billion IPO.

Next week: Dear Rink Rats and Finance 101.

Until Next Monday, Adios.

Claremont, CA

September 8, 2014

#V-21, 230

Labor Day

HAPPY LABOR DAY (and end of summer) to you and yours, and welcome to September!

Labor Day, the first Monday in September, is a creation of the labor movement and is dedicated to the social and economic achievements of American workers. It constitutes a yearly national tribute to the contributions workers have made to the strength, prosperity, and well-being of our country.

Through the years the nation gave increasing emphasis to Labor Day. The first governmental recognition came through municipal ordinances passed during 1885 and 1886. From these, a movement developed to secure state legislation. The first state bill was introduced into the New York legislature, but the first to become law was passed by Oregon on February 21, 1887. During the year four more states — Colorado, Massachusetts, New Jersey, and New York — created the Labor Day holiday by legislative enactment. By the end of the decade Connecticut, Nebraska, and Pennsylvania had followed suit. By 1894, 23 other states had adopted the holiday in honor of workers, and on June 28 of that year, Congress passed an act making the first Monday in September of each year a legal holiday in the District of Columbia and the territories.

The first Labor Day holiday was celebrated on Tuesday, September 5, 1882, in New York City, in accordance with the plans of the Central Labor Union. The Central Labor Union held its second Labor Day holiday just a year later, on September 5, 1883.

In 1884 the first Monday in September was selected as the holiday, as originally proposed, and the Central Labor Union urged similar organizations in other cities to follow the example of New York and celebrate a "workingmen's holiday" on that date. The idea spread with the growth of labor organizations, and in 1885 Labor Day was celebrated in many industrial centers of the country.

Also this year marks the 70^th anniversary of a Labor Day tradition: The Franklin, Michigan Round-up. A wonderful way to end the summer with parades, games, food, and the best cider in the Mid-West at the Franklin Cider Mill.

American Labor Leaders:

Cesar Chavez (1927-1993): cofounder and President of the United Farm Workers, 1962-1993

John L. Lewis (1880-1969); President United Mine Workers, 1920-1960

George Meany (1894-1980); President AFL-CIO, 1955-1979

Asa Philip Randolph (1889-1979); founder and President of the Brotherhood of Sleeping Car Porters, the first black labor union

Walter Ruether (1907-1970); President United Auto Workers, 1946-1970

GADGETWATCH -- Apple Said to Prepare New 12.9-Inch IPad for Early 2015, Apple Inc.'s suppliers are preparing to manufacture the company's largest-ever iPad, with production scheduled to commence by the first quarter of next year ... The new iPad will have a screen measuring 12.9 inches diagonally ... Apple currently produces iPads with 9.7-inch and 7.9-inch displays. ... Sales of the tablets, which are Apple's second-biggest product by revenue after the iPhone, have declined for two straight quarters amid a lack of new models and as consumers have instead gravitated to smartphones with bigger screens.

COLLEGE CHRONICLES - The 10 largest private donations to higher-education institutions in the past year. The philanthropists built their wealth in such endeavors as investing, financial services, real-estate development, energy production, and cattle ranching.

            Institution    Donor Donor background Size of gift     Nature of gift            Year announced

1.         Yale U. Charles B. Johnson    retired chairman of Franklin Resources, parent of the asset-management company Franklin Templeton, and a principal owner of the San Francisco Giants      $250,000,000            not disclosed*      2013

2.         Kansas State U. Foundation, Oklahoma State U. Foundation, and U. of Oklahoma Foundation            Dolese Bros. Co.        concrete company    $210,000,000            stock, divided evenly among three recipients       2013

3.         U. of Michigan at Ann Arbor            Stephen M. Ross        real-estate developer and majority owner of the Miami Dolphins   $200,000,000            not disclosed†           2013

4.         Harvard U.     Kenneth Griffin          founder of the hedge fund Citadel  $150,000,000            not disclosed*      2014

5.         Rhodes Trust (charity that supports Rhodes scholars' opportunity to study at the U. of Oxford)            John H. and Marcy McCall MacBain            founder of Trader Classified Media (Mr. MacBain)            $120,000,000            not disclosed*            2013

6.         Thomas Jefferson U. Sidney Kimmel Foundation  foundation established by the founder of Jones Apparel Group Inc.   $110,000,000            not disclosed*            2014

7.         The Broad Institute (joint venture of the Massachusetts Institute of Technology and Harvard U.)   Eli and Edythe L. Broad founder of KB Home, a home-building company, and SunAmerica Inc., a retirement-savings company (Mr. Broad)         $100,000,000            not disclosed*            2013

8.         Cornell U. Weill Medical College      Sanford I. and Joan Weill and the Weill Family Foundation            retired chairman of the financial-services company Citigroup (Mr. Weill)        $100,000,000            not disclosed†      2013

9.         Dartmouth College    anonymous donor    n/a      $100,000,000            not disclosed*            2014

10.       Georgetown U.           Frank H. McCourt Jr. real-estate developer and former owner of the Los Angeles Dodgers         $100,000,000            not disclosed*            2013

STICKER SHOCK - Fresh increases in grocery prices expected this fall are set to bring some unsavory surprises to shoppers. Rising food costs will lead to trade-offs even in upper-income households. Experts say that many more families will start to feel the sting of higher food bills in the coming weeks, as several economic events push the price of staples to new heights. Meanwhile, we examine the way many grocery stores are handling the situation. Some stores, for example, are trying to explain market forces to shoppers, hoping it will help ease the pain of higher prices. Online grocer Fresh Direct has made its "value packs" of meat smaller, reducing the thickness of cuts, while Whole Foods has promoted recipes for cheaper cuts such as skirt and flatiron steak.

BOND SALES NEAR RECORD — U.S. corporate-bond issuance is hurtling toward a record for the third consecutive year, as companies take advantage of a surprising interest-rate decline to stock up on cash. Companies around the globe have sold about $999.4 billion of bonds in the U.S. this year, including a $4.5 billion sale Thursday from Bank of America … That is up more than 4% from a year ago and puts them on pace to cross the $1 trillion issuance mark at the fastest clip on record, according to data provider Dealogic, which has figures dating back to 1995.

“Investors and analysts say companies are raising funds partly with an eye to investing in fresh projects as the U.S. economy gains pace, a move that can further help along economic growth. Acquisitions have nearly doubled in the U.S. from last year to a recent $1.1 trillion, and U.S. bond sales earmarked for capital spending — purchases or upgrades of long-lived assets such as plant and equipment — have risen 90% from a year earlier to $40 billion, Dealogic said.”

GDP EXPANSION - Corporate profits surged last quarter while the U.S. economy posted robust growth, putting the economic expansion back on steady footing headed into its sixth year.

BIRTHDAYS THIS WEEK – Birthday wishes and thoughts this week to: Terry Bradshaw (66), Carly Fiorina (60), Jessica Naccache ….famous financial consultant, Bob Newhart (85), Lily Tomlin (75).

The football season is now in full throttle, and Rink Rats will be making their picks each week for the balance of the season. Remember, bet with your head, not over it.

COLLEGE FOOTBALL PICK OF THE WEEK – Saturday 9/6, 6:30 PM ET, Fox: #8 Michigan State Spartans (1-0) visit #3 Oregon Ducks (1-0) in a huge early season matchup. We like The Spartans to pull the upset to the Duck Dynasty, State 32 Ducks 28. Season to date (1-0)

SMALL COLLEGE FOOTBALL PICK OF THE WEEK – Saturday 9/6, 2:00 PM ET, HGTV: Union Dutchmen (0-0) visit #23 Ithaca College Bombers (0-0).  The Dutchmen might be defending NCAA D-I hockey champs, but they will be no match to The Bombers at Butterfield Stadium, Ithaca 28 Union 14. Season to date (0-0)

Rink Rats NFL Preseason Picks –

NFC :

East – Philly               North – Green Bay                South – New Orleans                       

West – Seattle            Wild Cards – San Francisco and Detroit               

Conference Champion – Green Bay Packers

AFC:

East – New England  North – Pittsburgh                South – Indianapolis

West – Denver           Wild Cards – San Diego and Cincinnati

Conference Champion – New England Patriots

Super Bowl Champion – New England Patriots

NFL PICK OF THE WEEK – Thursday 9/4, 8:30 PM, NBC: Defending Super Bowl Champion Seattle Seahawks (0-0) host The Swami’s pick to win this years’ Super Bowl, the Green Bay Packers (0-0). The Pack is off and running; 17 Seattle 14.  Season to date (0-0)

THE SWAMI’S WEEK TOP PICKS –

(NCAA, Sept. 6) Michigan Wolverines (1-0) 24 at #17 Notre Dame Fighting Irish (1-0) 21

(NCAA, Sept. 6) #11 Stanford Cardinal (1-0) 28 host #15 USC Trojans (1-0) 21

(MLB, Sept. 6) New York Yankees (70-65) 3 host Kansas City Royals (74-61) 2

(NFL, Sept, 7) San Francisco 49ers (0-0) 21 at Dallas Cowboys (0-0) 14

Season to date (42 - 37)

Next week: The Roosevelts, words of the month, and Dear Rink Rats.

Until Next Monday, Adios.

Claremont, CA

September 1, 2014

#V-20, 229