Morning Reads for Tuesday, January 10th

January 10, 2012 6:24 am

by Jason · 16 comments

Here in Georgia…
– Alpharetta-based drug developer Bristol-Myers Squibb was sold over the weekend for $2.5 billion. It’s unclear at this point if any jobs will be leaving the area.
– The City of Atlanta will briefly release some two million documents relating to concession contracts at Hartsfield.
– Candidates have filed for open House seats in HD-60 and HD-107.
– More HOPE cuts are likely on the way.
– House Minority Leader Stacey Abrams is a “legislator to watch” this year.
– In case you missed it, here are the names of new committee chairs in the Georgia House.
– Georgia’s new concealed carry licenses actually look legit.

National stories of interest…
– Todd Palin is backing Newt Gingrich. Could Sarah be next?
– According to a new poll from CBS, Mitt Romney and Ron Paul do the best against Barack Obama in head-to-head match-ups.
– 325,000 voters are expected to head to the polls today in New Hampshire.

A few that I like…
– Falcons DC Brian VanGorder is headed to Auburn.
– Chick-Fil-A is offering healthier options for kids.
– Georgia’s Brandon Boykin won the Paul Hornung Award, given to the nation’s most versatile player.
– Keith Marshall, Georgia’s prize commit in the 2012 class, has already started classes.
– Last night’s BCS championship game was excellent.
– Barry Larkin was elected to baseball’s Hall of Fame. Dale Murphy was snubbed again, receiving only 14.5% of votes cast (75% are needed for election).

John Konop January 10, 2012 at 7:57 am

The attacks on Romney via his roll at Bain capital demonstrate the lack of understanding economics and business by the other canindates in the race. I have posted many times on this blog that job of an executive it to give the investors the best rate of return, end of story.

As far as the effects on jobs, most of the companies were failing and what of went out of business had Bain not stepped out and bought the company. If Romney had not made the tough calls with his team all would of lost jobs.

What is scarey is the same tough calls need to be made with spending, taxes…..and the message from the GOP canindates attacking Romney is how we got into this mess. this is the same logic that had Newt and Santorum support Medicare Part D that alone will BK the country. Newt and Santorum thought it was a great idea to give seniors four dollars of taxe payers money for every one dollar they paid for medicine. It was a short term idea that was helpfull for seniors, but any rational person would know this bill would BK the country.

How many Americans really want to hear the truth?

Mike Hassinger January 10, 2012 at 8:06 am

That’s one of them “rhetorical” questions, ain’t it?

John Konop January 10, 2012 at 8:46 am

Lol

L. Max Lehmann January 10, 2012 at 4:07 pm

“…No plan should be presented which depends on federal money. Too many recent stories have indicated the feds are now backing out on funding and finding projects “not viable” only after local governments have spent millions in studies. Don’t be foolish and think the feds are not feeling the crunch and cutting back too. Let us be careful that we do not get “burned” by federal cutbacks. Good ideas from the feds do not always work (toll lane on I-85 is a good example) and their ideas are not money in the bank. … ” J. Smith

A friend, neighbor, and one durn smart lady.

Wants V. Needs, John. We have heard the truth, been said many times over the last five years or so. Now the message is beginning to resonate.

This downturn was our warning; it lead to an unprecedented downgrade in US creditworthiness. Had just a few of the recommendations from the Simpson-Bowles Commission been enacted by Congress, I doubt the downgrade would have occurred. This time last year, Rep. Woodall warned the US is in danger of losing it’s ability to sell T-Bills within five, make that that four, years and we are no closer to resolution to issues of National importance. Weak Euro Bonds sales are a bellwether to future US credit infusions.

The insolvency of Medicare/caid is well documented. Healthcare costs skyrocket, and the undeniable demographics of age will further pressure our system.

We can change America, but WILL we?

That is a second rhetorical question, Mike.

benevolus January 10, 2012 at 4:11 pm

A nit to pick: The downturn didn’t lead to the downgrade in credit. That was purely political. Lack of confidence in our leaders ability to act. The credit grade probably would have stayed the same if Congress had acted thoughtfully and in a timely manner.

L. Max Lehmann January 10, 2012 at 4:16 pm

I saw your nit and picked it!

“Had just a few of the recommendations from the Simpson-Bowles Commission been enacted by Congress, I doubt the downgrade would have occurred. “

John Konop January 10, 2012 at 4:20 pm

I agree Max!

Engineer January 10, 2012 at 9:28 am

I could easily see a Obama/Romney election becoming Obama vs. mean old Mr. Wall Street Executive. I’m sorry but Romney winning would make it too easy for Obama. In this economy, putting up one of the big business men whose job was basically gutting companies is not going to help at all. There are numbers of fired workers who I am certain will be more than willing to pull a swift-boat style ad campaign against Romney (some of the former employees have already started speaking out in New Hampshire). Beyond that, he is but a few feet to the right of Obama on most issues.

John Konop January 10, 2012 at 10:01 am

Engineer,

…………big business men whose job was basically gutting companies………….

In all due respect that is not true. I am not part of the Romney team nor have I ever taking capital from Bain. The company Romney built has an excellent reputation and has done very good job with ROI to investors as well helping companies grow or survive.

Look at their portfolio of investments, they are not a chop shop. I have been in situation with taking over companies bleeding a lot of money a month. I am not saying that they do not have deals with companies on the downslide, but in general most of their money is in the growth side. And once again many times the companies would of gone out of business had they not consolidated resources and all the employees would have been out of work.

http://www.baincapitalventures.com/portfolio/#

Bain Capital Ventures is the Boston-based venture capital affiliate of Bain Capital. Bain Capital Ventures’ history dates back to 1984, with investments in over 110 early and growth stage companies such as Staples, DoubleClick, Aspect Development, Shopping.com, Taleo Corporation, SolarWinds, Brontes Technologies, m-Qube, ProfitLogic, Network Intelligence and MinuteClinic.

Bain Capital Ventures currently has ~$1.5 billion under management and invests in:
• Business Services
• Consumer
• Healthcare
• Internet & Mobile
• Software
Recent investments include: AdReady, Ameritox, Apparent Networks, AppAssure Software, Appriss, Archer Technologies, blip.tv, BloomReach, dynaTrace software, Enclarity, Enservio, Fingerhut, INRIX, Invoke Solutions, iPAY, Kiva Systems, Lala Media, LinkedIn, MagazineRadar, MedeAnalytics, Memento, Nomis Solutions, Oyster.com, The Princeton Review, Rave Wireless, Rapid7, RDC, Skyhook Wireless, SurveyMonkey, Targetspot, TheFind, Thumbplay, Tokbox, TravelCLICK, TxVia, vAuto, VMLogix, VMTurbo, Vonage, and ZeroTurnaround.

http://en.wikipedia.org/wiki/Bain_Capital_Ventures

Engineer January 10, 2012 at 12:04 pm

I don’t care about what the company does and yes, I realize that’s just the free market in action….. BUT, if nominated, the Obama team will give a non-stop barrage of ads from people talking about how Romney fired them. In this economy, those messages will hit home with a large number of voters.

To quote from South Park, “HE TUK UR JERBS”.

John Konop January 10, 2012 at 2:05 pm

Engineer,

You have made my original point. We need some very tough medicine to fix Washington ie entitlements, military spending……… and the real truth nobody wants to hear it. Newt and Santorum scream they are real conservative, yet they supported and or voted for Medicare part D which will BK the country. And when I ran for office in 2006 I was called “chicken little” for pointing out the problem that anyone with basic math skills could of figure-out.

At the end, like a dysfunctional business, you have to make tough calls or the ship will sink. I have some issues with policy via Romney, but his ability to make the tough call is what most of us should embrace not attack.

Engineer January 10, 2012 at 3:58 pm

Look, I have no problem with what he did. That is just how business goes.

The only point I’m trying to make to you is that voters, especially in an economic climate like today, are very susceptible to the whole, “he took our jobs” type of argument. Most people aren’t going to say, “Oh Romney was forced to make a tough call so the business he worked for could remain profitable.” Instead, most are going to think something along the lines of, “Oh that Romney just sold off people’s jobs and shut down factories so that him and his big business buddies could make money off of their misfortune.”

In general, people are more inclined to feel bad for the workers that lost their jobs, rather than a person they feel is responsible for the job loss.

Blake January 10, 2012 at 4:18 pm

I don’t see much worth in a putative “ability to make the tough call” when his proposed tax cuts are as bankrupting as Medicare Part D. His tax plan isn’t “tough medicine,” just more pandering.

Mike Stucka January 10, 2012 at 9:14 am

A little birdie tells me the week-old story on the gun licenses actually has a picture of ‘em.
http://www.macon.com/2012/01/03/1847677/new-gun-licenses-bring-added-security.html

Calypso January 10, 2012 at 10:07 am

shameless plug ;)

drjay January 10, 2012 at 11:37 am

dale murphy is a great guy and was a great player for about a five year stretch, but the way he went out and those last two home runs, are going to keep him out, probably forever…

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