Daily Archive: October 26, 2012

Today on The Stars Hollow Gazette

Our regular featured content-

And these featured articles-

Write more and often.  This is an Open Thread.

The Stars Hollow Gazette

“Meducation”

Adapted from Rant of the Week at The Stars Hollow Gazette

Meducation

Since America can’t afford all the teachers it would take to give children personal attention, doctors recommend psychostimulants to improve kids’ grades.

“The Security Officer will escort you while you collect your personal belongings.”

Citi Chairman Is Said to Have Planned Chief’s Exit Over Months

By JESSICA SILVER-GREENBERG and SUSANNE CRAIG, The New York Times

Published: October 25, 2012

Mr. Pandit, the chief executive of Citigroup, was told three news releases were ready. One stated that Mr. Pandit had resigned, effective immediately. Another that he would resign, effective at the end of the year. The third release stated Mr. Pandit had been fired without cause. The choice was his.

The abrupt encounter, described by three people briefed on the conversation, included a terse comment by the chairman, Michael E. O’Neill: “The board has lost confidence in you.”



As Mr. Pandit was reeling from his encounter, three board members confronted John Havens, the bank’s chief operating officer and a longtime lieutenant.

“Vikram has offered his resignation, and we would like to give you the opportunity to offer yours,” a board member said, following a script prepared by the board’s lawyers, according to several people with knowledge of the meeting.



This week, senior executives at the investment bank convened a group of employees to try to stem any exodus, according to several people briefed on the meeting. Among the employees’ questions: why remain at a bank that treated its top executive so harshly?

Messy Breakup Ends Citi’s Rocky Relationship With Vikram Pandit

By Matt Egan, FOXBusiness

Published October 16, 2012

“I’m surprised he lasted as long as he did,” said Charles Geisst, a professor at Manhattan College.

Shareholders clearly were not happy with Citi’s financial performance as its shares had plunged almost 90% since Pandit became CEO in December 2007. By comparison, shares of J.P. Morgan Chase (JPM) and the Dow Jones Industrial Average are down own 8% and less than 1% respectively over that span.

There’s a long list of setbacks on Pandit’s watch, including most recently a $4.7 billion charge tied to an overvaluation of Citi’s stake in the Smith Barney joint venture, which it is selling off in pieces to Morgan Stanley (MS). Citi had pegged the JV’s price tag at $22 billion, well north of an eventual settlement at $13.5 billion.

Also, Pandit and Citigroup were embarrassed in March after the Federal Reserve gave the bank’s plan to return capital to shareholders a red light, leading some to say it had failed the government’s stress tests.

“The corporate governance, whether it’s been in the last few years or the last few hours, has been awful,” said (Citigroup analyst at Credit Agricole) Mayo.

Citigroup Pays Fine and Fires Star Technology Analyst

By BEN PROTESS, The New York Times

October 26, 2012, 11:41 am

Citigroup paid a $2 million fine and fired a prominent technology analyst after authorities accused the bank of improperly leaking to the media unpublished information about YouTube and confidential research on Facebook’s initial public offering.



In May, the junior Citigroup analyst e-mailed two TechCrunch employees to say “I am ramping up coverage of FB and thought you guys might like to see how the street is thinking about it (and our estimates).” He attached a “Facebook one pager,” that featured an array of confidential information, including Mr. Mahaney’s private revenue estimates meant as an internal guide for the bank’s analysts.

Under securities rules and a nondisclosure agreement with Facebook, Citigroup analysts were banned from “disseminating written research” about the social networking giant until 40 days after the I.P.O. The restriction, which applied to all banks that helped take Facebook public in May, was created to prevent research analysts from improperly promoting companies in a bid to drum up business for bankers.

The rules were reinforced in a landmark 2003 settlement with several banks, including Citigroup. The case, led by a former New York attorney general, Eliot Spitzer, built a Chinese wall between Wall Street research analysts and investment bankers.

Don’t steal any paperclips Vikram.

Cartnoon

A classic.  And still there!  Bully.  Originally posted here July 26, 2011.

Bully for Bugs

On This Day In History October 26

Cross posted from The Stars Hollow Gazette

This is your morning Open Thread. Pour your favorite beverage and review the past and comment on the future.

Find the past “On This Day in History” here.

October 26 is the 299th day of the year (300th in leap years) in the Gregorian calendar. There are 66 days remaining until the end of the year.

On this day in 1881, the Earp brothers face off against the Clanton-McLaury gang in a legendary shootout at the OK Corral in Tombstone, Arizona.

On the morning of October 25, Ike Clanton and Tom McLaury came into Tombstone for supplies. Over the next 24 hours, the two men had several violent run-ins with the Earps and their friend Doc Holliday. Around 1:30 p.m. on October 26, Ike’s brother Billy rode into town to join them, along with Frank McLaury and Billy Claiborne. The first person they met in the local saloon was Holliday, who was delighted to inform them that their brothers had both been pistol-whipped by the Earps. Frank and Billy immediately left the saloon, vowing revenge.

Around 3 p.m., the Earps and Holliday spotted the five members of the Clanton-McLaury gang in a vacant lot behind the OK Corral, at the end of Fremont Street. The famous gunfight that ensued lasted all of 30 seconds, and around 30 shots were fired. Though it’s still debated who fired the first shot, most reports say that the shootout began when Virgil Earp pulled out his revolver and shot Billy Clanton point-blank in the chest, while Doc Holliday fired a shotgun blast at Tom McLaury’s chest. Though Wyatt Earp wounded Frank McLaury with a shot in the stomach, Frank managed to get off a few shots before collapsing, as did Billy Clanton. When the dust cleared, Billy Clanton and the McLaury brothers were dead, and Virgil and Morgan Earp and Doc Holliday were wounded. Ike Clanton and Claiborne had run for the hills.

Aftermath

The funerals for Clanton and the McLaurys (who were relatively wealthy men) were the largest ever seen in Tombstone, drawing over 2,000 people. The fear of the Cowboys caused many Tombstone residents and businesses to reconsider their calls for the mass killing of Cowboys. Although rowdy, the Cowboys brought substantial business into Tombstone.

The fear of Cowboy retribution and the potential loss of investors because of the negative publicity in large cities such as San Francisco started to turn the opinion somewhat against the Earps and Holliday. Stories that Ike Clanton and Tom McLaury were unarmed, and that Billy Clanton and Tom McLaury even threw up their hands before the shooting, now began to make the rounds. Soon, another Clanton brother (Phineas “Fin” Clanton) had arrived in town, and some began to claim that the Earps and Holliday had committed murder, instead of enforcing the law.

The Spicer hearing

After the gunfight, Wyatt Earp and Doc Holliday (the two men not formally employed as law officers, and the two least wounded) were charged with murder. After extensive testimony at the preliminary hearing to decide if there was enough evidence to bind the men over for trial, the presiding Justice of the Peace Wells Spicer ruled that there was not enough evidence to indict the men. Two weeks later, a grand jury followed Spicer’s finding, and also refused to indict. Spicer, in his ruling, criticized City Marshal Virgil Earp for using Wyatt and Doc as backup temporary deputies, but not for using Morgan, who had already been wearing a City Marshal badge for nine days. However, it was noted that if Wyatt and Holliday had not backed up Marshal Earp, then he would have faced even more overwhelming odds than he had, and could not possibly have survived.

The participants in later history

A few weeks following the grand jury refusal to indict, Virgil Earp was shot by hidden assailants from an unused building at night – a wound causing him complete loss of the use of his left arm. Three months later Morgan Earp was murdered by a shot in the back in Tombstone by men shooting from a dark alley.

After these incidents, Wyatt, accompanied by Doc Holliday and several other friends, undertook what has later been called the Earp vendetta ride in which they tracked down and killed the men whom they believed had been responsible for these acts. After the vendetta ride, Wyatt and Doc left the Arizona Territory in April, 1882 and parted company, although they remained in contact.

Billy Claiborne was killed in a gunfight in Tombstone in late 1882, by gunman Franklin Leslie.

Ike Clanton was caught cattle rustling in 1887, and shot dead by lawmen while resisting arrest.

Later in 1887, just over six years from the time of the O.K. fight, Doc Holliday died of tuberculosis in Glenwood Springs, Colorado, aged 36.

Virgil Earp served as the “Town Marshal,” hired by the Southern Pacific RR, in Colton, California. He lived without the use of his arm, although continued as a lawman in California, and died of pneumonia at age 62 in 1905, still on the job as a peace officer.

Johnny Behan failed even to be re-nominated by his own party for the sheriff race in 1882, and never again worked as a lawman, spending the rest of his life at various government jobs, dying in Tucson of natural causes at age 67 in 1912.

Wyatt Earp, the last survivor of the fight, traveled across the western frontier for decades in the company of Josephine Marcus, working mostly as a gambler, and eventually died in Los Angeles of infection, in 1929, at the age of 80.

A legacy of questions

The issue of fault at the O.K. Corral shooting has been hotly debated over the years. To this day, Pro-Earp followers view the gunfight as a struggle between “Law-and-order” against out-of-control Cowboys; Pro-Clanton/McLaury followers view it as a political vendetta and abuse of authority.

A recent attempt to reinvestigate part of the matter aired on an episode of Discovery Channel’s Unsolved History using modern technology to re-enact the shotgun shooting which was part of the incident. However, the re-enactment did not use 19th century period technology (a late 19th century shotgun messenger type short shotgun, brass cases, black powder). The episode concluded that Doc Holliday may have triggered the fight by cocking both barrels of his shotgun, but was likely not the first shooter.

In April 2010, original transcripts of witness statements were rediscovered in Bisbee, Arizona, and are currently being preserved and digitized. Photocopies of these documents have been available to researchers since 1960, and new scans of them will be made available for public viewing online.

Late Night Karaoke

Health and Fitness News

Welcome to the Health and Fitness News, a weekly diary which is cross-posted from The Stars Hollow Gazette. It is open for discussion about health related issues including diet, exercise, health and health care issues, as well as, tips on what you can do when there is a medical emergency. Also an opportunity to share and exchange your favorite healthy recipes.

Questions are encouraged and I will answer to the best of my ability. If I can’t, I will try to steer you in the right direction. Naturally, I cannot give individual medical advice for personal health issues. I can give you information about medical conditions and the current treatments available.

You can now find past Health and Fitness News diaries here and on the right hand side of the Front Page.

Stir-Frying With the Seasons

Autumn Stir Fry

Right now I’m phasing out summer’s tomatoes and corn, green beans and zucchini and picking up Chinese broccoli, mushrooms, cabbage and carrots at the farmers’ market. I’m still finding an array of peppers and beautiful Asian eggplants to brighten my wok. Stir-fries can be adapted to any number of ingredients that may be lingering in your refrigerator, or in your freezer, like the frozen peas that liven up a fish and mushroom stir-fry that is one of this week’s recipes.

~Martha Rose Shulman~

Stir-Fried Chinese Broccoli and Chicken With Hoisin

The extra step to “velvet” the chicken is worth it for such tender, succulent chicken

Stir-Fried Rainbow Peppers, Eggplant and Tofu

Roasting the eggplant before stir-frying may not be the Chinese way, but it produces great texture without using much oil.

Stir-Fried Medley of Kale, Brussels Sprouts and Baby Bok Choy With Chicken

Omit the chicken or substitute tofu to make this dish vegetarian. In any case, the antioxidant-rich cruciferous vegetables are the centerpiece of this dish.

Cabbage and Carrot Noodles With Egg

Glass noodles, also known as bean threads, are made with mung bean flour and have more texture than rice noodles. Either kind works in this dish.

Wok-Seared Cod With Stir-Fried Mushrooms and Peas

Cooking the vegetables first prevents the delicate fish pieces from flaking apart in the pan.

Barofsky on Pandit and Obama Failures: Part 1

Cross posted from The Stars Hollow Gazette

In a web exclusive interview, Neil Barofsky, the former Special Inspector General for the U.S. Troubled Asset Relief Program (TARP), talks with Bill Moyers about the resignation of Citibank CEO, Vikram Pandit and his disappointment with President Barack Obama’s choice to protect the big banks instead of regulating them.

“I think that you have to view [Pandit’s] career through that prism of being one of the worst-performing of a group of bad banks. To receive all that money and really to accomplish what he accomplished was mostly because of taxpayer generosity and the incredible political connections that Citigroup had in Washington. And basically cashing out those connections,” Barofsky tells Bill. [..]

“I thought that if there was ever going to be a political figure that would take on the interests of Wall Street, it was going to be President Obama. And that just didn’t happen,” Barofsky says. “It was the exact opposite of that… He had the same ideology as Secretary Geithner and, frankly, the same ideology as a lot of those people who came from Wall Street.””

This is the first of two parts and focuses on Mr. Pandit’s sudden departure.