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UC Berkeley is broke and has over $100 million of red ink
Six weeks ago, UC Berkeley faced a $67.2 million budget gap for 2009-10. Amid California's budget crisis which puts the state on the brink of bankruptcy, that anticipated shortfall has now grown to $145 million. The recently-enacted 9.3% student fee increases and other revenue-enhancement measures that become effective July 1, have reduced the $145 million gap by about $30 million, which means that UC Berkeley is still short $100 million. The budget situation is so servere that the Chancellor and Provost of the University of California just sent out the following urgent email this afternoon to all students, staff, faculty, and alumni at UC Berkeley...
In summary, this is what's expected to happen to UC Berkeley this upcoming academic year... Read more
college seniors from Cal, Stanford, Ivies fight over $27,000 per year jobs
The impact of the worsening recession can be felt by graduating students attending some of the most elite universities in the U.S. such as UC Berkeley, Stanford, and Ivy League colleges. Because of a contracting economy, companies are unwilling to hire but are increasingly ready to fire employees every day. As a result, many college students from the class of 2009 and beyond are competing for jobs to teach in low-achieving schools in programs such as Teach For America for as little as $27,000 a year! Read more
who gets what? Obama's stimulus infrastructure spending by state
Click on any state for details on likely spending projects. The funds listed are the state's total allotment for roads and bridges. The projects are those each state will likely recommend for funding to the U.S. Transportation Dept., which has the final say. There is additional federal money for mass transit, Amtrak and water projects. The job creation numbers are rough estimates.
Obama's stimulus plan and state of the economy
In a previous article "Why Our Economy is Heading Into A Depression" I wrote at the beginning of February, I made the case for why I think the economy will worsen and enter into a depression based on numerous market indicators and opinions by economic experts. Almost three weeks later and after the recent passage of the heralded Obama $787 Billion Stimulus Plan, market news and experts continue to suggest the forthcoming of a depression. Here's an updated snapshot of the progress of our economy...
why our economy is heading into a depression
"If it looks like a duck, swims like a duck and quacks like a duck, then it probably is a duck." Such can also be said of our current economy, where many indicators suggest that the current recession is unprecedented and is no where near an end. In fact, it looks more like a depression is around the corner. We are just on the tip of an iceberg...
recession, depression, and murder
I just learned yesterday of a tragic story about a family murder-suicide in Southern California by a Kaiser hospital lab technician. The man was having economic problems, owes the IRS $15,000, and behind in mortgage and credit card payments, and all of that just caved in on him when he got fired from his job for fraud (he lied about his income so he can get cheaper child care). He went on to kill his 5 children, his wife, and then turns the gun on himself. Read more
is peanut butter safe?
As of yeterday, the peanut butter salmonella outbreak has sickened 491 people (and an unknown number of dogs) across 43 states and subsequently linked to the deaths of 6 people. The last widespread salmonella outbreak was in the summer of 2008 and was a result of contaminated peppers from Mexico.
The peanut product recall has widened to include ice cream, candy, retail bakery products, frozen cookies, dog treats, and more peanut products made with peanut paste provided to United States food processors from The Peanut Corporation of America and sheds light on the complexity of our modern food distribution systems and the omnipresent significance of peanuts in our daily lives.
Consequently, my family and I have been very confused over which peanut products are safe, especially regarding the beloved peanut butter we use every morning when we are too lazy to cook something more substantial... Read more
happy inauguration day!
"The question we ask today is not whether our government is too big or too small, but whether it works."
- Barack Obama, 44th U.S. President
Barack Hussain Obama has been sworn in as President of the United States, marking him as the 44th President and the first African American to be elected to the United States highest office. Obama said in his speech that this is a moment that will define a generation. Read more
a miracle during dire times
An ace US Airways pilot made an astonishing controlled crash landing into the frigid Hudson River yesterday after his jet hit geese and lost power minutes after takeoff from La Guardia and missed the George Washington Bridge by just 900 feet - all 155 people aboard, including one baby, were rescued. The crash took place on a 20-degree day, one of the coldest of the season - with the water temperature 36 degrees.
What a miracle. I can't imagine how a flock of seemingly harmless geese are able to take down an entire Airbus A320 plane by disabling both jet engines in just mere minutes!
Madoff's clients and the stocks he owned
Bernard Madoff worked as a lifeguard to earn enough money to start his own securities and hedge fund firm in the 1960s which touted compounded returns of 18 to 20% annually. Last month, the former chairman of the NASDAQ stock market was arrested and charged with allegedly running a $50 billion "Ponzi scheme" in what may rank among the biggest fraud cases ever and may spark unprecedented, global securities reform. Read more
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