Links and Minifeatures 2008 12 22 Monday

Carnival of Personal Finance

Bankruptcy Is the Perfect Remedy for Detroit

The bankruptcy code places severe limitations on the compensation that can be paid to a manager unless there is a "bona fide job offer from another business at the same or greater rate of compensation." Given the dismal performance of the Detroit Three in recent years, it seems unlikely that their senior management will be highly coveted on the open market. Incumbent management is also likely to find its prospects for continued employment less-secure.

Chapter 11 also provides a mechanism for forcing UAW workers to take further pay cuts, reduce their gold-plated health and retirement benefits, and overcome their cumbersome union work rules. The process for adjusting a collective bargaining agreement is somewhat complicated and begins with a sort of compulsory mediation process. But if this fails a company can (with court permission) nullify the agreement. This doomsday scenario is rarely triggered, however, as its threat casts a large shadow over negotiations, providing a stick to force concessions.

The UAW is paid $25 per hour more from the US "big 3" than the workers at competing plants in the US working for foreign auto workers, plus they have grossly more in the way of benefits. Who pays for this? The customers, of course! No wonder the US automakers can't build a car that competes with the japanese automakers for the same price. We're right on the edge of not being able to save these companies at all. If UAW doesn't wake up and smell the coffee, the US automakers are going to be gone - and whomever buys them is still going to get rid of the UAW contracts - and that's if they're not completely gone, like Sunbeam.

Blame Bush, Obama -- or Us?

When someone screams about a terrible policy of the present administration, just pose four questions:

First, was the controversial decision taken with bipartisan support? Second, were there precedents for such action in prior Democratic administrations? Third, will such polices continue under the newly elected Obama administration? Four, have the media changed their position on the issue since the November election?

Went to the Zoo with the family

My wife loves carousels, so every so often we go on on the Balboa Park Carousel, right next to the zoo entrance. Here she is with our younger daughter

some detail of the carousel

The origin of the term "brass ring": a free ride to the one that pulls it.

In the zoo proper, an Orangutang and a Siamang, which two species seem to get along pretty well, being from the same area.

Argus Pheasant, a kind of peacock

Long view of the big walk through aviary - not Scripps, but I can never remember the name

Half a dozen species of bird in the same tree

I think this is a Collared Lory at the feeder

Panda Su Lin, Bai Yun's third cub, still with the zoo and sleeping on a false tree trunk

Panda Zhen-Zhen, Bau Yun's fourth cub, sleeping in a tree

African Spotted Neck River Otters, one of my favorite animals. There are also Guenons in this enclosure. The monkeys aren't the only thing that climbs - the otters climb also.

A couple of quasi-free flyers from the Lagoon below, sitting on the raptor cages, completely unconcerned because they know the eagles can't get out.

Looking down at the lagoon exhibit

Arctic Diving Ducks - except they weren't diving today

A couple shots of a Turkmenistan Caracal, in the cage where the Pallas cats used to be

Polar Bear nap - it may be a cold day for San Diego, but as far as they're concerned it is warm enough

A different view of the same bear

Female Soemmerling's Gazelle