Wednesday, May 23, 2012

Bill Clinton No Longer Supports Charlie Rangel; Colin Powell and Ed Rendell Refuse To Endorse Obama; Even Some of our Heroes Fall From Grace; Facebook's "Zuckers?"; Obama Struggling in Key States; More Physicians Will Not Accept Medicaid Patients; Obama Donor on Bain Board---OOOOPS!

President Obama gave a commencement speech at Barnard College. He told graduates their futures are bright unless they want jobs...Leno (Barnard College is an elite college for women. Tuition is over $40 grand a year).

  • You might have missed this news last week. Bill Clinton said he will not endorse the man above, Charlie Rangel, in his re-election bid. In 2010, Bubba backed Charlie. And Rangel was one of Bill Clinton's staunchest supporters during the Lewinski scandal. I doubt this will hurt Charlie. He's been representin' his district in Harlem for over 40 years (Charlie beat another ethically challenged politician at the time, Adam Clayton Powell, Jr. While I take a lot of shots at Charlie---largely for his political shenanigans---it has to be pointed out he is a war hero. For his heroics in Korea, he received the Bronze Star With Valor and a Purple Heart. Unfortunately, his heroics do not shield him from his years of ethical lapses, in my opinion. One just has to look at another hero, Duke Cunningham. Cunningham was a Naval aviator during Vietnam. He became the only Navy flying ace during that war. He was also a TOPGUN training instructor. Unfortunately, he decided to enter politics representing a district in California. In 2005, he was convicted of accepting almost $3 million in bribes, mail fraud, conspiracy and tax evasion).

  • If you've either been following the Facebook IPO or invested, there's a new term that entered the lexicon this week---Zuckers. It appears somebody has some 'splaining to do. Shares fell again yesterday. As I write this today, it's fallen 18% in 3 days (If Zukerberg had a tendency to sweat a lot, he might be soaked by now). And now there are claims Morgan Stanley shared its lowered numbers only with select investors AHEAD of the IPO. In fact, regulators have issued a subpoena against Morgan Stanley for that reason. In fact, some Wall Street analysts said the stock should have been priced at about $10 bucks a share. And some see the stock returning to the $40 per share value. Hey, it's only been 3 days. But I do have one word of caution for investors: Myspace. (Reuters/NY Post)

  • While Romney leads Obama in Florida according to the Quinnipiac University Poll, 47% to 41% among registered voters, the Democrat primaries in Kentucky and Arkansas were not kind to the president. With no opponent in Kentucky, Obama won only 57.9% of the vote. In Arkansas, he got 59% while his opponent, John Wolfe, received 41%. Wolfe's entire platform was getting Obamacare repealed. Politico is reporting today that about 24% of Floridians were less inclined to back Pres. Obama because of the same-sex issue. Also, Colin Powell and Ed Rendell refused to endorse Pres. Obama when asked.
  • Regarding ObamaCare, as of today, more than 40 religious institutions, including Catholic universities, hospitals and charities filed lawsuits against the health care law.

  • And as more Americans will be forced into Medicaid because of ObamaCare, a survey by Jackson HealthCare reported today that 36% of physicians will not accept Medicaid patients due to declining reimbursement rates. When ObamaCare was passed in the middle of the night over two years ago, I predicted there will not be enough physicians to handle the new law's mandates. This is another "anticipated" outcome.
  • As most know by now, the Obama campaign has fired some volleys against Romney for his association with Bain Capital. Unfortunately, for the Obama campaign, it appears to have backfired. But did you know that the co-owner of the Boston Celtics, Jonathan Levine, also represented Bain Capital. Oh, yes, one more thing: He raised more than $200 grand for Obama too. (ABC News)
  • Egyptians vote today for a new government. Let's watch to see if the Myth of the Arab Spring continues.
  • You may have never heard of a man by the name of Eugene Polley. But you should know his name because his invention affected the lives of billions. He invented the remote control. He died yesterday. Billions of channel surfers thank you.