Misery Index

I think Obama could have answered at least the first question on the first time, and then simply stated that he couldn’t answer other questions because he had been asked/told by the US Attorney’s Office to not answer them as U.S. Attorney Patrick Fitzgerald had asked Obama to postpone releasing the investigation’s results until December 22nd with Fitzgerald’s office later issuing a one-sentence statement confirming the request, so that it can “conduct certain interviews.”  It’s not that difficult to say “I can’t answer your questions because I have been asked by the U.S. Attorney’s Office to not answer them until next week.  I am sorry, but that is the way it has to be to ensure the validity of the investigation.”  Is that so difficult?

Instead Obama decided to be a jerk by lecturing and scolding the reporter and choosing to answer a third question by the reporter about his jump shot in what could be a Saturday Night Live skit.  The brush off’s and deflecting the press are now becoming more and more common with Obama and reporters.  And it is still yet to be seen exactly how much the Obama team knew about Blago, and if they knew he was selling the seat, then why didn’t they turn him in, especially since Obama is so hell bent on changing the corruption in government?  Is Obama’s own state exempt from being busted?  Especially since Michael Sneed, from the Chicago Sun-Times, even reports that Rahm is reportedly on 21 different taped conversations by the feds.  That’s a lot of conversations for just saying “Hello.  How ya doin’?” 

Additionally, it seems to now become a trend with Obama to avoid taking a position on virtually every new issue since his election, wanting to only talk about his team, or what he’s going to do to change our world in his press conferences. 

Mark Whitaker, NBC Washington bureau chief, said that reporters have not been aggressive enough during Obama’s post-election pressers.  “Our job is to hold him to account,” Whitaker said, adding that he thinks “we’re going to have to get tougher.”

Newsweek’s Jonathan Alter followed up:  “We need the Sam Donaldsons of the world.”

Today in another episode of the “Obama Show”, at a press conference just minutes ago, Obama was asked about how he squared his commitment to transparency in government with the tight-lipped response he and his advisers have had to questions about their dealings with the scandal-tarnished governor.  Obama said that it had been “frustrating” to maintain silence but that questions will be answered next week – which happens to be when he will be in Hawaii on break.

“It’s a little bit frustrating.  There has been a little bit of speculation in the press that I would like to correct immediately.  We are abiding by the request of the U.S. Attorney’s office,” Obama said.  “But it’s not going to be that long.  By next week, you guys will have the answers to all of your questions.”

As Obama spoke, his political adviser David Axelrod and chief of staff designate Rahm watched.  Axelrod stood motionless, hands on hips, a frown partially hidden by his moustache, who was checking a message on his Blackberry when the question was asked, smiled in faint amusement, put the Blackberry away and watched the rest of Obama’s response with his legs crossed at his ankles, arms crossed and a single finger pressed across his lips.  He was still smiling.  Such a wonderful display of “superior mentality” in body language.

Axelrod had previously said that Obama had directly spoken to Gov. Blago about the Senate vacancy on November 23, 2008 on FOX News Chicago report.  “I know he’s talked to the governor and there are a whole range of names many of which have surface, and I think he has a fondness for a lot of them.”  On Tuesday of this week, Axelrod issued a statement retracting his previous statement.  “I was mistaken when I told an interviewer last month that the President-elect has spoken to Governor Blagojevich about the Senate vacancy.  They did not then or at any time discuss the subject",” said Axelrod.

THE PAST

Another example of Obama “scolding” the press was when he made his announcement about appointing Hillary Clinton to Secretary of State.  When asked about how his opinion had changed so much from the campaign time, Obama replied “this is fun for the press to try to stir up whatever quotes were generated during the course of the campaign” adding that many things said were because of the “heat of the campaign”, minimizing statements he had said against Hillary Clinton and her experience in foreign affairs choosing to attack the reporter instead.

Back on December 3rd,  Campbell Brown of CNN had a lecture for Obama about the press after Obama’s statements to the press about appointing Hillary Clinton:

“There we go again.  The pesky media – all we want to do is have a little fun, stir things up for our own amusement.  I mean, really, how silly of that reporter to dare ask you, Mr. President-Elect, how it is that you completely mocked Hillary Clinton’s foreign policy experience just a few months ago, and yet today, you think there is no one more qualified than she to lead your foreign policy team?  It’s a clever device, treating a question so dismissively in an attempt to delegitimize it, but it is a legitimate question.  As annoying how you may have found it, it is a fair question.  It was only in March of this year that Greg Craig, your new White House counsel, put out a memo over four pages long, outlining by point Hillary Clinton’s foreign policy claims, calling them all exaggerated, just words, not supported by her record.

Now, look, maybe you regret what you said about Hillary Clinton.  Maybe it was, as you suggested today, all just said in the heat of the campaign.  If that is the case, and you are both now rising above it, then you deserve to be commended for that.  And you could have been explicit in saying all of that today.  You could have explained the evolution of your thinking, instead of belittling a question you didn’t like.

Mr. President-Elect, reporters, we hope, are going to ask you a lot of annoying questions over the next four years.  Get used to it.  That is the job of the media, to hold you accountable.  But this isn’t just about the media.  It’s about the American people, many of whom voted for you because of what you said during the campaign, and they have a right to know which of those things you meant and which you didn’t.  Apparently, as you made clear today, you didn’t mean what you said about Hillary Clinton.  SO, what else didn’t you mean?  The media is going to be asking, and you were wrong today.  Annoying questions are about more than just the press having fun.  Annoying questions are about the press doing its job and the people’s right to know.

Many Obama supporters are pulling a phrase from the campaign, calling the questions about Obama and his team’s relationship with Blago a manufactured “smear campaign,” and harassment of Obama by reporters.   And in fact choosing different news outlets that focus only on the “good” of Obama, and not facts of everything.  I’m sorry, I didn’t know that asking simple questions about a major topic, that Obama has said only “We are not involved” or something to that effect isn’t good enough.  Please tell me when anyone has EVER taken any government officials word as the straight truth on a scandal?  Or are the Obama supporters simply ready to take Obama at every word he says without questioning?  Stupid is as stupid does, I suppose.

And one thing that no one but Chicago newspapers, seems to be picking up on is that Eric Holder, Obama’s pick for Attorney General, was Gov. Blago’s pick to sort out the mess involving Illinois’ long-dormant casino license.  Blago and Holder appeared together at a March 24, 2004, news conference to announce Holder’s role as “special investigator to the Illinois Gaming Board” – a post that was to pay Holder and his Washington D.C. law firm up to $300K.  Eventually however, Holder was not hired, and Blago said on May 18th, 2004, that he was scrapping Holder’s probe.  Holder, however, omitted that  from his 47-page response to a Senate Judiciary Committee questionnaire made public this week – signed by Holder this past Sunday – five days after Blago’s arrest. 

Obama’s team commented on the matter with Cutter, the Obama team spokeswoman saying “Holder and his firm receive no compensation from the state for this preparatory work.” She added that “The 2004 press conference was not memorable because Holder’s legal work for the State of Illinois never materialized.” Such a convenient slipping of Holder’s mind on the matter and such a lie.  If you are asked if you have had any relationship with a person, I think the above qualifies.  But according to the Obama camp, since Holden wasn’t paid, then there’s no reason to talk about it and disclose it.  Gee, I’m all “fuzzy” over how factual the report from the Obama camp on the internal investigation is going to be.

RANT ON AND QUESTIONS ABOUT INCRIMINATING BLAGO COMMENTS

My problem in all of this is with the media, is that many newspapers chose to not report important information during the campaign due to fear of repercussions of legal action and being “blackballed” out of interviews.  Why would the press actually start doing their job now?  And if Obama or any of his team members expect Fitzgerald and his prosecutors to be as accommodating as the press, they are in for a big surprise.  Just do a bit of research about Fitzgerald indicting and convicting former Cheney chief of staff Lewis Libby.

Now Obama has promised to release the full account of his team’s Blago ties next week, but not before December 22nd, just in time for Christmas, right?  First, let’s see if he makes good on that promise, especially considering he will conveniently be in Hawaii next week for the holiday, thus unavailable for comment and second, let’s see exactly what and how much he releases.  Time for the first real example of how transparent his Administration is going to be.  Of course, we all have to remember that the investigation was conducted by Obama’s lawyers, and not an outside independent agency.

Obama needs to realize that unless certain questions are answered in the upcoming release of the report, that this little press problem isn’t going to go away.  Notably, the question of which members of Obama’s team spoke with Blago’s staff about the Senate seat, the extent of the contact and whether anyone on the president-elect’s team knew of any illegal attempt by the governor to trade the vacated seat.  And how Obama plans to address the fact that Blago, according to the FBI tapes has been quoted to have said the following about Obama and the Senate seat:

“he [Obama] has to give this motherf***er, his Senator.  F*** him.  For nothing?  F*** him!”  And even if the governor were to appoint a candidate favored by the Obama team, Blago said, “they’re not willing to give me anything except appreciation.”

If no one in Obama’s camp knew about Blago trying to sell the seat, Blago’s comments do not make any sense.  I am very curious as to how Obama is going to wiggle his way out of that one, claiming that no one on his team knew that Blago was trying to sell the seat yet Blago’s comment seem to suggest that Obama and/or his team refused to go along with the “pay to play” scheme.  The question remains of how Blago knew that Obama was not willing to give him anything in exchange for the Senate seat and with whom Blago was speaking with.  And the person that was speaking to Blago or anyone on his Administration report failed to report this to the authorities.

It has been stated by Fitzgerald that “there’s no reference in the complaint to any conversations involving the president-elect or indicating that the president-elect was aware of it, and that’s all I can say.”  His comment did not close the door on the possibility that Obama or someone on his staff may have known of some aspect of the governor’s demands.

What many people don’t seem to know is that Blago, according to the FBI, wanted an appointment to the Obama cabinet as Secretary of Health and Human services, a well-paying job, or huge campaign contributions as the price for naming Obama’s successor.  Blago was overheard by the FBI saying “I want to make money”, complaining he was “financially hurting.”

And as for Blago searching for a job for his wife, “Is there a pay here, with these guys, with her,” to work for  firm in Washington or New York, he is reported to have asked.  In the FBI affidavit, it is stated that Blago had been told by an adviser “the president-elect can get Rod Blagojevich’s wife on paid corporate boards in exchange for naming the president-elect’s pick to the senate.”  No, there is no discussion of money, but a barter for positions.  That is still illegal.  I am very curious as to how that one is going to be handled.

The bottom line is that if you have nothing to hide, then you shouldn’t get emotional over simple questions, even if you have to say, “I can’t comment now because I’ve been asked not to by the U.S. Attorneys Office.”  And if you have nothing to hide, then you don’t have a problem with an opinion on the entire matter.  And team members don’t conveniently “forget” about relationships with other people, recanting a few days later that “oh, I made a mistake.”

Meanwhile, the National Media Center, an arm of the Iraqi government that deals with the news media, condemned al-Zaidi’s behavior as barbaric and harmful to “Iraqi journalists and journalism in general,” demanding an apology from his employer.

One journalist disagrees with the National Media center saying “It’s the talk of the city.”  Ibrahim Mousawi, a Beruit journalist and political analyst affiliated with Hezbollah added, “Everyone is proud of this man, and they’re saying he did it in our name.”

Baghdadiya TV hasn’t apologized and is demanding for al-Zaidi’s release “in line with the democracy and freedom of expression that the American authorities promised the Iraqi people … any measures taken against Muntazer will be considered the acts of a dictatorial regime.”  The network posted an image of Zaidi in the corner of the screen for much of the day.  Viewers were invited to phone in their opinions, and the vast majority said they approved of his actions.  Muzhir al-Khafaji, the programming director for the TV channel said that Zaidi “has no ties with the former regime.  His family was arrested under Saddam’s regime.  We fear for his safety.”

A geography teacher at Baghdad elementary school asked her students if they had seen the footage of the shoe-throwing.  “All Iraqis should be proud of this Iraqi brave man, Muntadhar.  History will remember him forever,” she said.

Today, Zaidi’s three brothers and one sister said they were bewildered but proud of their brother’s defiance towards President Bush as they gathered in al-Zaidi’s one-bedroom apartment in west Baghdad.  The home was decorated with a poster of Latin American revolutionary leader Che Guevara. 

“I swear to Allah, he is a hero,” his sister Um Sa’aad, who goes by the nickname Umm Firas, told the AP while watching a replay of her brother throwing his shoes.  “May Allah protect him.”   Zaidi’s sister can be seen below.

Al-Zaidi’s brother, Dhirgham said, “He hates the American physical occupation as much as he hates the Iranian moral occupation.” “He considers the regime [in Iran] to be the other side of the American coin.”  Zaidi is known to sign off his televised reports from “occupied Baghdad.”

Another of Zaidi’s brothers said “Thanks be to God, Muntazer’s act fills Iraqi hearts with pride.” Udai al-Zaidi added, “I’m sure many Iraqis want to do what Muntazer did.”

Colleagues of Zaidi told Agence France-Presse that he “detested America” and had been plotting such attack for months.  Zaidi’s family contested this statement saying his actions were spontaneous. 

A day after the shoe throwing incident, Zaidi is still being detained by the Iraqi Government.   Officials in Prime Minister Nouri al-Maliki’s office refused to comment on his condition or on whether he’s be criminally charged.  Iraqi officials said he faces up to seven years in prison – some account said two years – for committing an act of aggression against a visiting head of state.  Zaidi’s  family said they had not heard from Zaidi since his arrest and that a police officer who picked up Zaidi’s cell phone at midnight Sunday had threatened the family.

Saddam Hussein’s former lawyer today said he was forming a team to defend al-Zaidi.  “So far, around 200 Iraqi and other lawyers, including Americans, have expressed willingness to defend the journalist for free,” the Amman-based Khalil al-Dulaimi said.  “Our defense will be based on the fact that the US is occupying Iraq, and resistance is legitimate by all means, including shoes,” Dulaimi added.

A Libyan charity group, Wa Attassimou, chaired by leader Muammar Gaddafi’s daughter, has given him a bravery award.  “Waatassimou group has taken the decision to give Muntazer al-Zaidi the courage award … because what he did represents a victory for human rights across the world,” the group said.

RANT

One thing to remember in all of this, no matter where you stand on the war in Iraq, Zaidi could not have thrown his shoes at Bush, much less survived doing this silly act, without the freedom of democracy.  And what many people also need to remember, is that if any one of us here in the United States threw a shoe at a head of state, we’d end up on criminal charges too.  So Zaidi’s employer needs to realize this.  It’s called, you commit a crime, you go to trial and if found guilty or plead guilty, possibly jail.

But things to ponder in all of this.  If the US are really wanted there to help, then why do the people of Iran want us out, and are holding such major demonstrations about the “good” side of the shoe throwing?  Do these pictures represent a country or citizens that is thankful for what we, the United States, have supposedly done for them? 

I mean, would you believe that a Saudi citizen has offered $10 million to buy Zaidi’s shoes?

Exactly how much has the media “manipulated” or “censored” what we here in the United States see or exactly what we see?  Because it seems to me the opinion of the Iraqi government and what the opinion of the Iraqi people is are at completely different extremes.  Or are all these protestors terrorists?  Have we, or will we really “win the war”?  Should we leave, and let terrorism take over again?  Or should we leave and let the people overthrow the government?  The thing to also remember in all of this is that the Middle East has been in a war with itself, neighboring nations, under the guise of a religious war since the beginning of time.  Can we, the U.S., Bush or Obama really stop that?  Or should we focus on homeland security and immigration and let the rest of the world fight their own battles that don’t involve us?

BTW, didn’t this war on “terrorism” start with hunting down Osama?  Have we really “won the war” on terrorism?

ADDITIONAL COMMENTS

Abdel-Bari Atwan, editor of the London-based newspaper Al-Quds Al-Arabi, wrote on the newspaper’s website that the incident was “a proper goodbye for a war criminal.”

“This journalist should be elected president of Iraq for what he has done,” Ghazi Abu Baker, a shopkeeper in the West Bank.

“The shoes should be exhibited in a museum as they resemble a rocket that talks on behalf of all Iraqis.” – Zahraa, posting on website of Arabian Business magazine.

“The flying shoe speaks more for Arab public opinion than all the despots/puppets Bush meets during his travels in the Middle East.” – Asad Abu Khalil, professor at Stanislaus University in California.

“Throwing shoes at Bush was the best goodbye kiss ever.  It expresses how Iraqis … hate Bush.” – Musa Barhoumeh, editor of Jordan’s independent Al-Gahd newspaper.

Bush “got what he deserves,” Jordanian businessman, Raed Mansi, in Amman.  “I hope he got the message loud and clear:  that he’s loathed for his wrongdoing, for killing Muslim women and children in Iraq, Afghanistan and Palestine.”

“Bush wanted to end his bloody term hearing compliments and welcoming words from his collaborators in the Arab and Islamic world.  But a shoe from a real Arab man summed up Bush’s black history and told the entire world that the Arabs hold their head high.” – Abdel-Sattar Qassem, Palestinian political science professor at the West Bank’s An Najah University.

“I’ve watched the video over a dozen times on YouTube and was excited every time I see him standing up and calling Bush a dog.  But I felt so bitter when he missed.” – Tamer Ismail, art student in Cairo.

“This wonderful shoe has gone down in history.  It’s the most important and boldest shoe in the world.  I wish I were a shoe.” – a comment left on a Jordanian news website.

SOURCES:

• “Iraqi journalist who threw shoes at George W. Bush hates US, fears Iran”, Herald Sun, 16DEC08
• “The Sole of Liberation”, Wall Street Journal, 16DEC08
• “Many hail journalist who threw shoes at Bush”, CTV, 15DEC08
• “Family:  Shoe thrower hates both US, Iran role”, AP, 15DEC08
• “Bush shoe incident catches Secret Service flatfooted”, Miami Herald, 15DEC08
• “Shoe-hurling Iraqi becomes a hero to many”, The Mercury News, 15DEC08
• “’Shoe-thrower of Baghdad’ brings Iraqis on to the streets”, The Independent, 16DEC08
• “Across Mideast, Arabs hail shoe-hurling journalist”, AP, 15DEC08
• “Protests over imprisonment of Iraqi who threw his shoes at George Bush”, The Times, 16DEC08
• “Shoe-thrower hailed as a hero in Mideast”, Durriyet Daily News, 15DEC08
• AP – Source of all pictures

THE NEW YORK TIMES

The New York Times, the third-largest U.S. newspaper, is facing a $400 million debt repayment in May and may borrow as much as $225 million against its Manhattan headquarters although it only owns 58% of the building.

The NYT, which finished the third quarter with $46 million in cash and equivalents, must refinance or repay a $400 million credit line that expires in May.  The company has about $366.3 million remaining under a second credit agreement that becomes payable in June 2011.

Last month, the NYT said October ad revenue at its newspapers fell 17.2% and classified sales dropped nearly 35%.

In the third quarter, NYT’s total advertising revenue dropped 14% and classified sales dropped 29%.

What the NYT Has (Short Term)

  ■  $46 million in cash
  ■  $366 million owned to it by advertisers

What the NYT Owes (Short Term)

  ■  $398 million of short-term debt due in May
  ■  $161 million of accounts payable (Newsprint, travel, etc.)
  ■  $100 million of payroll 
  ■  $159 million of other expenses
  ■  $50 million owned on long-term debt and rent

Grand total:  $865 million

Short Term Bottom line:  The NYT owes $453 million more than it has, thus it has a negative net wroth in the hundreds of millions.

What the NYT Has (Long Term)

  ■  $1.355 billion of buildings, real-estate, printing presses, trucks, etc.
  ■  $146 million of investments in joint ventures (Red Sox, etc.)

Total:  $1.501 billion

What the NYT Owes (Long Term)

  ■  $673 million of long-term debt
  ■  $7 million of long-term rent
  ■  $284 million of pension benefits
  ■  $214 million of retiree healthcare and other benefits
  ■  $290 million of other liabilities

Total:  $1.468 billion

Bottom Line:  The NYT has only about $33 million more than it owes.

CHICAGO TRIBUNE, LOS ANGELES TIMES, BALTIMORE SUN, ORLANDO SENTINEL

The publisher of the Chicago Tribune and the Los Angeles Times declared bankruptcy on Monday.  Tribune Co., which owns eight major daily newspapers and several television stations, filed for Chapter 11 bankruptcy protection after collapsing under a heavy debt load just a year after real estate mogul Sam Zell took it private.  It too is suffering from declining advertising revenue and circulation and maybe just bad business.

A year ago Zell loaded up the privately held publisher with about $8 billion in additional debt when he took the company private in a transaction largely financed by company contributions to an employee stock option plan.

As it sits, Tribune Co. had about $7.6 billion in assets and $12.97 billion in debt as of December 8, according to its bankruptcy filing.

The filing however, does not include Tribune’s Chicago Cubs Major League Baseball team or its ballpark, Wrigley Field – both of which Zell has struggled to sell.

Tribune Co. has said its unsecured creditors include J.P. Morgan Chase & Co’s JPMorgan Chase Bank with an $8.57 billion claim under a senior faculty, and Merrill Lynch & Co Inc’s Merrill Lynch Capital Corp with a $1.6 billion claim under a bridge loan facility.

Tribune Co. wholly owns “ForSalebyowner.com”, and partially owns CareerBuilder and Topix.  They are also owners of the Chicago Cubs and Wrigley Field, Tribune Media Services, Brass Ring, Zap2it, Chicago Magazine, Channel Guide Magazine, and partial owners of Classified Ventures, LLC.

The newspapers that Tribune Co owns are:  AM New York, Los Angeles Times, Chicago Tribune, RedEye (Chicago), Baltimore Sun, South Florida Sun-Sentinel, Orlando Sentinel, Hartford Courant (CT), Morning Call (Allentown, PA), Daily Press (Newport News, VA), Hoy (Chicago, Los Angeles), and El Sentinel (Orlando, South Florida).

In addition to owning the WGN-720 radio station, Tribune Co. also has assets in TV shows such as Andromeda, Mutant X, BeastMaster, Family Feud, South Park, Soul Train, Candid Camera, Ron Hazleton:  House Calls, Pet Keeping, City Guys, and Earth:  Final Conflict.

Tribune Co, owns 23 television stations, which are expected to be hit by the typical advertising declines that follow major elections and also owns Chicagoland’s Television, better known as CLTV, a 24-hour cable news station based in Oak Brook, IL.

The stations that Tribune Co owns are:

OTHER NEWSPAPERS

Media reports say McClatchy Co has approached potential buyers about a sale of the Miami Herald; The Minneapolis Star-Tribune is restructuring while its owner, private equity firm Avista Capital Partners, has skipped debt payments.

SOURCES:

• Bloomberg
• Silicon Alley Insider
• Market Watch
• Reuters
• Wipikedia