Viet-Justice

Now the music industry has shown their true colors.  They want to charge for those 30 second preview clips you hear at online music stores.  Techcrunch has a rather funny satirical view of the subject.  Let’s just ban music period to stop the music industry from embarrassing themselves.  Perhaps we can enlist the help of the Taliban to shut down the RIAA since music is forbidden.

On a more serious note the Tool that is head of the Songwriters Guild of America says,

“We make 9.1 cents off a song sale and that means a whole lot of pennies have to add up before it becomes a bunch of money,” said Rick Carnes, president of the Songwriters’ Guild of America. “Yesterday, I received a check for 2 cents. I’m not kidding. People think we’re making a fortune off the Web, but it’s a tiny amount. We need multiple revenue streams or this isn’t going to work.”

It sounds like Rick has a serious problem.  They’re suffering from a pricing model that undermines their success.  This happens in many industries before they go under.  If Rick were Asian he might be figuring out a solution to the problem by coming up with a new business model.  Unfortunately he’s choosing to whine about needing multiple revenue streams rather than finding the home run revenue stream that will enable them to drop all the little ones.  Songwriters will find new ways to profit without the guild or the music industry will, god forbid, consist of people who enjoy writing music.  Maybe banning music is going too far, but making sure that the crap is off the shelves might be a nice side effect of this upset in the market.  Think of a world without Britney Spears or The Backstreet Boys.  Ok, we’ll have to figure out what to do with all the Top 40 radio stations, but surely some smart Asian will have an idea.

Right now everyone is having a field day with AIG and their $165M bonus.  Well I say suck it up America.  First of all those bonuses were contractual obligations.  The first thing you learn about business is you honor contracts.   If AIG had been allowed to fail and go into bankruptcy then a judge could have wiped out all those contracts, but both the Bush and Obama administration have decided to keep feeding the parasite.  That money was destined to go to whomever it did, so no crying about it.

Now the brilliant people on FoxNews are saying that, hey “we” own 80% of them and don’t we get a say?  Well, did the Federal Government call a board meeting to say “We’re the new owners and the new policy is no bonuses or stock options until we say so”?  No, they didn’t.  Though to be slightly fair I bet they didn’t think they needed to call an emergency board meeting to get that point across.

The other dilemma that the people at FoxNews are facing is that the Board has a fiduciary duty to perform.  I doubt it would be legal for any Board of Directors of a public company to simply say, we’re not paying our contractual obligations in terms of bonuses or to foreign creditors (German and French banks) that we owe money to because it’s the American people who own this joint now.  The new stock holders (the government) should have proactively gone to all of the banks that AIG owes money to in order to get a better rate or defer payment until things stabilize.  It’s too late for that now, but Geitner should have a great To Do list.

The other rant I have is about all the Las Vegas parties that the financial industry haven’t canceled.  I’m not up to date on Nevada law, but in Georgia you are not entitled to a refund if you pay in advance.  If you pay your gym membership up front, you get a form that tells you under state law you have no recourse if the other party fails to perform because you are paying in advance and that the seller will not issue refunds for any reason even if the business closes.  You are entering into a 1-year or 2-year contract with payment in full in advance after all.  If I’m running a resort and I have some big wall street types, or small business types or a wedding party, wanting to rent the place out, you can sure bet I’m going to stick them with the non-refundable contract under state law.  They can either cancel their party and I keep their money, or they can throw the party and I can keep their money.  So, don’t be mad at Wall Street for continuing to party.  They’re just doing business with ordinary people who have a facility to rent.

Another sign the country has gone to hell. Apparently the Madoff victims are going to get a bailout.  Not the traditional bailout we’ve seen, but it is the usual spreading the wealth, or rather loss in this case.  Apparently everyone who cashed in before Madoff’s ponzi scheme collapsed must give back both their earnings and principal.  Apparently authorities are going to use a similar case as legal guidance.

In October 2008 a judge in the Bayou case, Adlai Hardin Jr., ruled that investors who cashed out their interests within two years of the scheme’s exposure had to hand back their principal as well as their profits—even though they were innocent victims of the swindle—if there was evidence that they got out because they suspected, or had been warned, there was something amiss. (The court also ordered profits made within the last six years to be surrendered.)

Mitchell Banas, a lawyer who represents an endowment for Christian Brothers High School in Memphis—which got its money out of the Bayou fraud before it collapsed but now must return both profits and principal—says the outcome is “extremely unfair.”

So, if I’m reading this right if you invest in the stock market and you lose, then you can expect everyone who cashed out to pay you off.  Following this logic any stock holders of Enron who got out before the collapse should be paying their entire investment (read savings) out to the losers who were holding stock on the day Enron collapsed.  This explains why our government is bailing out GM and Chrysler.  Some idiots seem to believe that the winners will bail out the losers.  This means that our free market system is going down the toilet.  Las Vegas will also be wiped off the map due to this sort of thinking.  I also believe it is a racist policy.  Think of all the Indian reservations that will go out of business if the house has to share it’s winnings with people that lose money.

Armageddon is right around the corner. The New York Times has distributed copies of a DVD ad that is critical of radical Muslims. Obsession: Radical Islam’s War With The West was distributed with the NYT with the blessing of the paper saying that to not carry it would restrict the sponsor’s right to free speech. In other news the Raleigh News & Observer had about 50 cancellations. This should be a lesson to any business. If someone is threatening a boycott or if they say they will never buy your product again, then the numbers here say it all. Frack Em’! It’s refreshing to see the NYT side with an advertisers right to free speech; however, I have a feeling they didn’t want to have to refund the money for not distributing the DVD. Does this mean that the NYT is becoming more Asian by putting success and profit above the whiners? It’s certainly a better direction than I would have expected from them. I must say that the Raleigh News & Observer has quite a few idiotic rednecks in its readership.

“I cannot believe that I was sent the hate-inflaming, fear-mongering video disk `Obsession’ in my newspaper!” Margaret Lewis of Durham, N.C., wrote to The News & Observer. “What will you enclose next? KKK robes?”

Yes, Margaret, if the KKK wants to pay money to stick robes in the newspaper you had better bet anyone with the slightest understanding of capitalism and love for America will take the money. Freedom of speech is what sets us apart from the rest of the world and even hate speech is protected under our law. If you don’t like it pack your bags and move to Pakistan or Russia. Ms. Lewis is more than likely someone who will be complaining when the Chinese or Vietnamese take her factory job away. If you don’t put hard work and profit on the list of priorities someone else will and more than likely they’ll be Asian. Hope you’re ready to work in our sweatshops Ms. Lewis.

Mohammad Ahmed, 32, and member of Generation X is a slacker that is suing Tesco over being made to carry alcohol in a warehouse.

He said: “It’s in our religion that we are not allowed to handle alcohol. In the UK there’s equal opportunities that should protect me and my beliefs.

“I was asking for my rights. I am not saying I am a perfect person but there was a conflict with my beliefs.”

There are equal opportunities for profit. Mr. Ahmed apparently does not want to partake in these opportunities. One thing Europe needs to realize is that China and the US are ahead of them culturally in the world of business. Even our immigrants understand the value of hard work, no matter what that work is. If you want to make it in the world you need money, a very simple fact. Mr. Ahmed is willing to put his religion ahead of profit which says he is lazy and wants to take a back seat to his future Chinese overlords.

Over 6000 Chinese children are sick after consuming contaminated baby formula. The food products were contaminated with melamine which resulted in the deaths of hundreds of dogs and cats in the US after corrupt officials turned a blind eye to spiking pet food with the chemical. It’s nice to see that Karma does exist in this world. No word on how many executives and government officials are going to face the firing squad.

Just a little reminder for all you folks out there that think whites and blacks are mistreating Asians by using racist humor among other things. Asians can be racist too, so stop being the proverbial pot calling the kettle black when you are outraged at white people such as JV & Elvis, Rosie O’ Donnell, Imus, or black Gangsta Rappaz such as Ice Cube, ICE-T, and others.

I think this video shows that discrimination based on race or nationality is a culturally accepted aspect of at least one Asian country. Is this a dirty little secret we would prefer for whites, blacks, and latinos not to know? It’s a little difficult to expect others to be nice when we are guilty of basically the same thing. Keep that in mind before you start whining.

You really have to appreciate our friends in the Middle East. There is a big nothing going on about how tourists dress, or don’t dress. It all started when a British woman forgot her bikini top, so she decided to go the beach without it.

Yes, some people were offended, but at least the people in charge are willing to let things slide.

According to the director of Dubai Municipality’s public parks and horticultural department, Ahmad Mohammad Abdul Karim, there are no plans at present to add dress code regulations.

According to the article Karim is well aware Dubai is an international city with many people from many countries and cultures. While cautioning that tourists should be sensitive to that fact, not just be sensitive to local culture.

On the other hand one local resident really shows us how overboard their sensitivity can be.

“I once saw a tourist during Ramadan crossing Jumeirah Beach Road wearing her bikini and eating an ice cream … It definitely is offensive to see such incidents here because it offends the local culture … I blame the tourists who have no consideration to learn about our culture.

So which is it, the bikini, the ice cream, or both? If tourists offend you, then don’t live in an area with tourists. Seems pretty simple to me. Local economies depend on tourism and if you ask any hard working business owner they would rather have a mass of rude French tourists running around spending money than not.  This really isn’t a cultural issue or an issue of sensitivity.  In my opinion people make such events out to be our culture vs. theirs; however, this is merely urban living vs. rural living.  People move to the country to get away from the city and be with like minded individuals.  On the other hand people move to the city to find better jobs, which may involve working with or working around people who are different.  We as a people need to get over our cultural sensitivities and get back to seeking economic success.  Poverty is something that drives ignorance and violence which is something we do not need in the 21st century.

Reuters is reporting something very surprising.  Home prices are up and they are becoming unaffordable.  One issue is that there are more people than houses available in some areas.  This is a basic supply and demand issue, not a rich vs. poor issue.  You have the option to live in less crowded areas for a lower price, though this can contribute to suburban sprawl.  The other option is to pursue longer mortgage terms.  Sure you pay more in interest, but if you want to own rather than rent it’s your next best choice.  San Francisco now has 50 year mortgage products since most homes in desirable neighborhoods are in the millions of dollars and we’re not talking mansions, but less than 2000 sq ft.  I don’t see this as something to be alarmed about.  Japan introduced 100 year mortgage products 15 years ago and everyone there appears to be doing just fine.  Generational mortgages are the future for America and everyone should get used to the idea.  Most Americans can’t imagine having 3 generations under one roof.  In a logical way it does make sense because your children will inherit your estate and your legacy.  Shouldn’t they contribute to both as well?

Not all crooks but for drug traders.  The video is supposed to have all kids of juicy information on how to avoid getting busted.  In all fairness I think it’s great this guy is making this.  If your secret recipe is so simple it really isn’t a secret.  It also gives the on duty cops a kick in the ass to really update their procedures instead of the same old tired stuff that hasn’t won the War on Drugs.