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May 31st, 2009 by ravi
Executive welfare under TARP
Hampton Roads Bankshares [2] of Virginia, which received $80.3 million of TARP money last year, announced [3] last week that its CEO was retiring. On Friday, the bank disclosed [4] that in addition to a full slate of retirement benefits, the exec will be paid $1.3 million for “consulting duties.â€
Jack Gibson, the departing CEO, evidently doesn’t think he’ll be working too hard consulting. “I can think of no better time to fulfill my personal goal of early retirement,†he said in a press release [3] announcing his exit. “It is well known within the company that I would like to retire by age 60, and I’m almost there.†During the period of his three-year consulting gig, the bank has also agreed to cover his membership dues at a local country club.
The $1.3 million that Gibson will receive roughly matches the total amount he received in salary over the last three years as CEO ($1.4 million).
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May 24th, 2009 by ravi
Ashish Nandy on Nazism and European violence
[VL is Vinay Lal]
VL: Then you would surely disagree fundamentally with the continued attempts of most European and American historians to describe Nazism as an aberration within European history itself?
AN: The industrialized, scientized, technological violence Europe had tried outside Europe. In Europe, there was at most you could say trench warfare, but that was not self-conscious. Even in World War I, the killings in places like Flanders were not self-conscious exercises, as was Nazism; outside Europe it was often a self-conscious enterprise. Nazis, with Teutonic thoroughness, brought that experience to work within Europe; they applied to Europe what Europe had done outside Europe.
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May 15th, 2009 by ravi
Jesse Ventura wants an hour with Cheney and a waterboard
It’s drowning. It gives you the complete sensation that you are drowning… I’ll put it to you this way: You give me a waterboard, Dick Cheney and one hour, and I’ll have him confess to the Sharon Tate murders.
(via my friend Michael P)
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May 15th, 2009 by ravi
From corporate welfare to corporate charity!
The reality is that much of the money loaned to Chrylser before and during its bankruptcy process won’t be recovered, said an administration official, speaking for the Auto Task Force, which is a joint effort of the White House and Treasury. (We tried to get the official to speak for attribution, but the official declined.) The face value of the $4 billion loan approved by the Bush administration will be by and large written off during the bankruptcy process, according to the official and Chrysler’s bankruptcy filings. The administration has also pledged to give Chrysler up to $3 billion to keep the company afloat during restructuring.
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May 15th, 2009 by ravi
More snaps from Abu Ghraib
Click on link for entire set. Fortunately Bush, sorry make that Obama, is working to block their release.
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May 13th, 2009 by ravi
Massimo Pigliucci on epigenetics
But why, you may ask, is an evolutionary biologist interested in epigenetics? Because a subset of epigenetic effects turns out to be heritable across generations. This means that there is something else other than classical genes (i.e., sequences of DNA) that both carries information and is passed from one generation to the next. This is big news for biologists (though the suspicion had been around for a while), because it suddenly broadens and complicates — possibly dramatically — our concept of inheritance, with a wide range of consequences for how we understand evolution. After all, the natural variation among organisms so crucial for natural selection to work had been assumed until recently to originate only from changes in gene sequences.
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