Archive for April, 2013

States Take a Shot at Looser Alcohol Rules

April 28, 2013

The Wall Street Journal, Saturday/Sunday, April 27-28, 2013

U.S. NEWS

States Take a Shot at Looser Alcohol Rules, by Amy Schatz

New Hampshire, Texas, Consider Easing Late-Night or Sunday Limits, but Similar Pushes Have Failed Elsewhere

“It could soon be last call for some states’ restrictions on alcohol sales… A complicated mix of alcohol laws covers the country.  Grocery stores can sell beer and wine in some states but not others.  Twelve states allow no sales of liquor on Sunday although some of those states allow the sale of beer or wine.  The laws can differ within states that leave it to local authorities to regulate alcohol sales.  

Opponents to lifting alcohol restrictions cite religious moral or safety reasons.  Critics say making it easier for residents to drink into the wee hours of the morning or buy alcohol on Sunday will lead to more drunk-driving accidents and increase alcohol-related disturbances for local law enforcement to handle…

Nationally, proponents of looser restrictions on alcohol sales have been gaining ground.  Last year, Connecticut became the latest state to roll rack its prohibitions on Sunday alcohol sales,making it the 16th state to do so, since 2002, according to the Distilled Spirits Council of the U.S. a lobbying organization.

Taking a shot at something can be derived from shooting a duck, deer, to shooting a puck at a goal in ice hockey, a ball in many sports

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Will Tribal Officials in Oregon Play the Trump Card?

April 21, 2013

THE WALL STREET JOURNAL:  U.S.NEWS

“Oregon Water Fight Revives: Landmark 2008 Pact to Aid Region Remains in Limbo as a New Drought Hits, by Jim Carlton

Klamath Falls, Oregon–One of the most bitter water wars in the West is erupting again.

This past week, the Klamath County Commission in southeastern Oregon and Gov. John Kitzhaber both declared a drought emergency to help make farmers eligible for federal subsidies to alleviate any losses. The agricultural county of 70,000 has been dealing with unusually dry conditions for he past four months, with farmers and ranchers saying they pose potential crippling water cutbacks by federal agencies.”

According to this article, a 2008 agreement among farmers, ranchers and tribal agencies made after a previous drought is under attack by various groups because of the current drought and anxiety over water supplies: The Klamath County Commission has withdrawn support for the deal.  Oregon State, however, considers portions of the 2008 deal valid.  

“Deal or no deal, one winner is the Klamath Tribes of the Klamath, Modoc and Yahooskin people.  Last month, Oregon ruled in a case that the 3,680-member tribes hold ‘time immemorial’ water rights in much of Klamath County, meaning they get priority over anyone else.

Tribal officials said they plan to abide by the agreement’s provisions that they won’t play that trump card in return for fisheries restoration and the return of land from a former reservation if the measure passes Congress.”  

Trump cards convey power as they take any other card in the deck.

Upping the Ante in a Play for a Stronger Board

April 16, 2013

THE NEW YORK TIMES BUSINESS Wednesday, April 3, 2013

DealBook

Upping the Ante in a Play for a Stronger Board, by Steven M. Davidoff

“Would you pay a director tens of millions of dollars for fantastic performance?  Welcome to the newest trend in activist investing: hedge funds paying their nominees to a company’s board as if they were chief executives…

Agitating for changes and waging proxy fights are familiar pages from the activist investor playbook.  What’s different here is that each hedge fund is promising  to pay its director candidates what are essentially bonuses that could run into millions of dollars, if not more.”

Upping the ante is a generally a gambling term for backing your bet with more chips or money, usually in poker;  your “playbook” on that particular deal calls for more money, hoping that you will have a win.

Wall Street Sets Earnings Bar Low

April 11, 2013

USA Today Money, Tuesday, April 9, 2014

Wall St, sets earnings bar low, by Matt Krantz

“Investors are hoping companies’ first-quarter profits will give them justification for pushing stocks to all-time highs this year… But while stocks soared nearly 10% in the first quarter, analysts currently eastimate that earnings rose only 0.7%, says S&P Capital IQ, the lowest reading in years.

…while investors are hopeful companies have simply set the bar low, making it easier to beat, others fear stocks have gotten ahead of reality.”

Setting the bar or bars low makes the game easier for the opposition; setting them high makes the game more difficult.