Illinois Governor Arrested

Posted on December 9, 2008 by billmanzi

Illinois Governor Rod Blagojevich was arrested by federal authorities today, charged with attempting to “sell” the Senate seat vacated by President-elect Barack Obama. In Illinois the vacancy is filled by the Governor. From MSNBC:

Illinois Gov. Rod Blagojevich was arrested Tuesday on federal charges that he brazenly conspired to sell or trade the Senate seat left vacant by President-elect Barack Obama to the highest bidder.

A 76-page FBI affidavit says the 51-year-old Democrat was intercepted on court-authorized wiretaps over the last month conspiring to use the vacant Senate seat to obtain personal benefits for himself and his wife, Patti.

The FBI affidavit, derived from wiretaps, has produced some damaging material for the Governor.

The affidavit contends Blagojevich discussed getting a substantial salary for himself at a non-profit foundation or an organization affiliated with labor unions. It also says Blagojevich talked about getting his wife placed on corporate boards where she might get $150,000 a year in director’s fees.

The affidavit also quotes Blagojevich as saying “I want to make money” in one conversation.

Blagojevich and John Harris, the governor’s chief of staff, were each charged with conspiracy to commit mail and wire fraud and solicitation of bribery.

The Governor was arrested without incident, and will be arraigned later today.

http://www.msnbc.msn.com/id/22425001/vp/28139348#28139348

Posted in National News | Tagged , , | 11 Comments

California to Pay With IOU’s

Posted on December 9, 2008 by billmanzi

The State of California, faced with an eight billion dollar deficit, will likely run out of cash by March absent measures to deal with the problem. In light of that state vendors may receive IOU’s instead of cash for invoices submitted to the state for payment. From Bloomberg:

California, the world’s eighth-largest economy, may pay vendors with IOUs for only the second time since the Great Depression, State Finance Director Mike Genest said.

In a letter to legislative leaders Dec. 1, Genest said the state “will begin delaying payments or paying in registered warrants in March” unless an $11.2 billion deficit is closed or reduced. California, which approved its budget less than three months ago, may run out of cash by March, state officials say.

Governor Arnold Schwarzenegger warned that the state may issue the warrants, which are a promise to pay with interest, to suppliers and contractors as the seizure in credit markets may make it too costly to borrow.

“It’s getting worse very quickly,” Schwarzenegger, a 61- year-old Republican, told reporters Dec. 1 after declaring a fiscal emergency and ordering the Legislature into a special session to find ways to close the deficit. “It’s like an avalanche in that it gains momentum. And that’s what we’re in right now, so it’s a real crisis.”

A system burdened with an unsustainable cost structure careens towards the cliff, with the California legislature unable or unwilling to make the cuts necessary to bring their budget into balance. The Governator must be hoping for a federal appointment by President-elect Barack Obama to extricate himself from this mess. Dealing with the California Legislature on a daily basis cannot be what he envisioned when he took this job. How does Energy Secretary Arnold Schwarzenegger sound?

Posted in National News, State News | Tagged , , , | 1 Comment

SNL Features Secretary Clinton

Posted on December 8, 2008 by billmanzi

More good stuff from those crazy folks over at SNL, and Tina Fey is not even involved. Does Hillary really laugh like that?

http://widgets.nbc.com/o/4727a250e66f9723/493dd584be29798a/4741e3c5156499a7/da4eaae6/-cpid/db6d9802eada023a

Posted in National News | Tagged , , | Leave a comment

Methuen Electronics Recycling Event a Huge Success

Posted on December 8, 2008 by billmanzi

A couple of weeks back we had a recycling event in Methuen for electronics. This four hour event on a Saturday drew a huge response, with literally tons of materials being dropped off by residents free of charge. We had over a thousand television sets recycled that day, as well as over a thousand monitors and computers. I have enclosed the list in pdf form. My thanks to ACT e-Recycling, who were the repository for all of this Methuen recycling material. We will look to do more of this in the future.

city-of-methuen-breakdown-11-24-08-1

Posted in Methuen | Tagged , , , | 1 Comment

Obama criticism of the Big Three

Posted on December 8, 2008 by billmanzi

President-elect Barack Obama, in a Meet the Press appearance yesterday, said that management of the Big Three had been deficient. From MSNBC:

…while President-elect Barack Obama accused car industry executives of a persistent “head-in-the sand approach” to long-festering problems.

Obama was pointed in his criticism of management, but came out for conditional assistance to the automakers. He called for changes that would have to be made by all big three stakeholders, including labor, creditors and suppliers. The Obama critcism was joined by Senator Chris Dodd, who called for the removal of G.M. CEO Rick Wagoner as a condition of any loan package. Dodd is a key player in formulating the package that will be submitted next week, and that package is now begining to take shape.

Behind the scenes, House and Senate aides were hammering out legislation that would dole out billions to automakers within a week — but yank back the money if a government-run board and overseer named by President George W. Bush decided the companies weren’t taking steps to overhaul themselves and become viable. A congressional aide outlined the emerging measure on condition of anonymity because it is not yet completed.

The plan would draw the emergency aid from an existing loan program meant to help the automakers build fuel-efficient vehicles. The size of the package hasn’t been finalized, but it is expected to be about $15 billion, several congressional aides said.

It would create an oversight board comprised of key Cabinet secretaries — from the departments of Treasury, Energy, Labor, Commerce and Transportation — plus the Environmental Protection Agency administrator to oversee a broad auto industry restructuring.

In return for the money, the carmakers would have to agree to terms similar to those placed on banks that receive funds under the $700 billion Wall Street bailout: to limit their top executives’ pay packages, cease paying dividends, give the government a chunk of future gains and guarantee that taxpayers would be reimbursed before any other shareholders, the aide said.

The bill under discussion would place the special investigator overseeing the bank rescue in charge of keeping tabs on the auto bailout.

The bell is now tolling for G.M. CEO Rick Wagoner. Will government oversight of the Big Three include some sort of auto czar? And what shape would that job take? More to come this week as the package gets finalized and sent up for a vote.

http://www.msnbc.msn.com/id/22425001/vp/28096607#28096607

Posted in National News | Tagged , , | 3 Comments

Repower America

Posted on December 8, 2008 by billmanzi

The latest ad from the “We Can Solve It” group, talking about the importance of renewables and taking a swipe at coal generated electricity.

Posted in National News | Tagged , , , | 4 Comments

Tribune Company Prepares for Bankruptcy

Posted on December 7, 2008 by billmanzi

The Tribune Company, owner of the Chicago Tribune as well as the Los Angeles Times, is reported to be preparing a bankruptcy filing this week, according to the Wall Street Journal website. From Reuters and the Washington Post:

The paper said Tribune has been on wobbly footing since last December, when real-estate mogul Sam Zell led a debt-backed deal to take the company private. Tribune so far has stayed ahead of its $12 billion in borrowings with the help of asset sales, but dwindling profits are now tightening the noose, it said. The company’s cash flow may not be enough to cover nearly $1 billion in interest payments this year, and Tribune owes a $512 million debt payment in June, the paper said.

Another pretty big media company biting the dust, a victim not just of a bad advertising business climate but also victimized by the insane private equity deal that was put together here. Those deals are now crashing and burning everywhere. I wonder if we can blame this on the housing market?

Posted in Uncategorized | Tagged , | 7 Comments

Gregory to Meet the Press, Matthews keeps playing Hardball

Posted on December 7, 2008 by billmanzi

NBC has unveiled David Gregory as the new host of Meet the Press, ending a process begun by the untimely death of Tim Russert. Gregory was the tough White House correspondent for NBC News, and tangled with President Bush and the White House Press Secretary often. From MSNBC:

“I’m honored and deeply humbled as I take on this role,” said Gregory. “I’m filled with a great sense of purpose as I join a superb team to cover Washington and the world from a treasured platform in our country. Above all, I want to make Tim proud.”

And Mike Allen over at Politico is reporting that Hardball host Chris Matthews is preparing to sign another contract with NBC to remain as the host of Hardball. Matthews had been toying with the idea of challenging PA Senator Arlen Specter, but that idea is gone with the new contract. I am very happy to see that Matthews will be covering the presidency of Barack Obama. It sends a shiver up my leg!

Posted in Uncategorized | Tagged , , , , | 2 Comments

Methuen Cambridge Street Cleanup

Posted on December 7, 2008 by billmanzi

Yesterday the residents of Cambridge Street engaged in a pretty impressive volunteer effort to clean an area of their street that was in need of help. The City partnered with these residents by providing pickup and free disposal for the materials that were produced by the cleanup. My Chief of Staff Matt Kraunelis was there to help, and deserves recognition for quaterbacking the city side effort. Congratulations to the residents who spent time making their neighborhood cleaner!

Posted in Uncategorized | Tagged , , | 1 Comment

Matthews Trails Specter

Posted on December 7, 2008 by billmanzi

Hardball Host Chris Matthews is ramping up to take a shot at Senator Arlen Specter of PA, and even though we have not moved beyond the speculation phase lets get back to looking at poll numbers. (Since the Obama election win I have been fidgeting nervously waiting to look at new poll numbers, no matter what the issue). Quinipiac has surveyed PA, and found Specter with a twelve point lead over Matthews. From Quinipiac:

In an early look at the 2010 U.S. Senate race, Republican incumbent Sen. Arlen Specter leads TV commentator Chris Matthews, a possible Democratic challenger, 45 – 33 percent. Sen. Specter leads 72 – 9 percent among Republicans and 45 – 27 percent among independent voters, while Matthews leads 55 – 25 percent among Democrats.

Specter gets a 62 – 25 percent approval rating and by a 56 – 23 percent margin, voters have a favorable opinion of him.

For Matthews, 60 percent say they don’t know enough about him to form an opinion.

“Who says the Republicans are dead? Sen. Arlen Specter has the highest job approval rating of any major Pennsylvania Pol and would knock off Chris Matthews by 12 points if the Hardball host decides to run against him,” Richards said. “Matthews has been on MSNBC wall to wall during the election season, but is a question mark for 60 percent of the voters. Specter has been relatively invisible the past year and has a strong 56 percent favorable rating.

A Rasmussen survey has that gap as much narrower, but with Specter still holding a lead. Can you just imagine the debate? Specter won’t be able to get in a word! Matthews contract with MSNBC will be up soon, and rumor has MSNBC either not renewing or looking for a big salary reduction. After being passed over for the “Meet the Press” gig Matthews may need a job. But he may be picking the wrong target in Arlen Specter, a pretty tough customer politically. Will Matthews take the plunge? And if he does can he beat Specter?

Posted in National News | Tagged , , , | 1 Comment