Massachusetts

Apparently I’m not the only one thinking that there could be substantial benefits to GM and to the taxpayers for GM to proceed through the Chapter 11 process, as long as the government steps in to be sure that Chapter 11 (reorganization) doesn’t turn into Chapter 7 (liquidation).  From today’s NY Times:

G.M is using money so quickly that a $10 billion infusion made today would disappear by February. That is why taxpayers shouldn’t fork over a cent, at least until shareholders are wiped out, management is tossed out and the industry is completely reorganized.

But there is a fix. Call it a government-sponsored bankruptcy, a G.S.B., if you will.

(Read the full post about ‘NY Times “Dealbook”: Chapter 11 with US-sponsored DIP financing for GM. Is there an echo in here?’…)

(Peak pricing?  NYC already does it. - promoted by David)

Cross-posted at Newton Streets & Sidewalks

If nothing else, Friday’s decision by the soon-to-expire Turnpike Authority to jack Pike tolls through the roof has rendered a statement in favor of a gas tax hike restoration fit for polite company. Even Howie Carr recognizes the virtues of a higher gas tax. (From Dan Kennedy. I haven’t listened to Howie since I stopped my Pike commute.)

But, it shouldn’t be an either/or. We need an increase in the gas tax to more directly and equitably pay for road and bridge construction and maintenance …

(Read the full post about ‘Gas tax and (smart) toll hike’…)

First, a delightful trip down memory lane.  This is from 1979.

Why should a huge company be bailed out, say critics, while thousands of smaller firms suffer bankruptcy every year? Where should the Government draw the line? GM Chairman Thomas A. Murphy has attacked federal help for Chrysler as “a basic challenge to the philosophy of America.”

Funny how things change.  You should read the whole article — it’s astonishing how many of the same arguments are still floating around, largely unchanged, 30 years later.

(Read the full post about ‘More on bailing out Detroit: why not Chapter 11, with a federal guarantee of DIP financing?’…)

[UPDATE: You know, it occurs to me that they should wait until after the new Congress is sworn in to worry about this.  There’s no urgency to do it now, and if they do strip Lieberman of his chairmanship and he bolts, there will be a tie in the Senate for the next six weeks, which is plenty of time for the Republicans to screw things up.  Why not just wait ’til January?]

The big vote is on Tuesday.

Senate Democrats will decide by secret ballot Tuesday whether to take away Sen. Joe Lieberman’s chairmanship of the Homeland Security and Governmental Affairs Committee - a post from which he oversees U.S. security issues, as well as the operations of a wide segment of the federal government.

Two Senators — Leahy and Sanders of Vermont — have called for Lieberman to lose his chairmanship.  Dorgan has come close.  Beyond that, folks are understandably being pretty tight-lipped about it.

We’ve been over this before.  It simply makes no sense to allow Lieberman, who is no longer a Democrat, and who actively campaigned against the Obama/Biden ticket, to the point of openly disparaging Obama’s patriotism, to continue in his position as chairman.  Elections have consequences, and Joementum lost.  If Lieberman’s remaining in the caucus really mattered, maybe I’d think differently — but it doesn’t, because the Dems will now have well over 51 solid votes to control the Senate.  The filibuster stuff can wait (and, as I’ve said before, even if he stays in the caucus, that’s no guarantee of voting for cloture).

So hear this, Senators Kennedy and Kerry: no Homeland Security chairmanship for Joe Lieberman.

(Jacoby is every day’s winner of the Unintended Irony Award. Hell, he liked Unintended Irony so much, he bought the company! And do see lightiris’ zinger in the comments … - promoted by Charley on the MTA)

Beginning of opinion on Sarah Palin:

But there can’t be much doubt that Palin has become the brightest star in the GOP firmament.

(Read the full post about ‘Jeff Jacoby, Winner of Today’s Unintended Irony Award’…)

PHILADELPHIA (CBS) ― Two cultural icons were in Philadelphia Monday night to receive the Marian Anderson Award at the Kimmel Center.

Acclaimed poet Dr. Maya Angelou and distinguished television producer Norman Lear received awards for helping change society through their art and the courage of their convictions.

The dual presentation was a special commemoration of the award’s 10 years of service, reports CBS station KYW-TV. It carries with it a $100,000 prize.

Upon his election in 1992, Bill Clinton — affectionately referred to as the nation’s first black president — asked Angelou to compose a poem and read it at his inauguration. (Read the full post about ‘Angelou, Lear Get Awards In Philadelphia’…)

DEL RIO, Texas (AP) ― A former NFL cheerleader and winner of “The Bachelor” is out of jail after being arrested in a southwest border-town bar for unruly behavior.

Mary Delgado, who accepted a televised proposal from professional bass fisherman Byron Velvick on 2004’s “The Bachelor,” was arrested in Del Rio after refusing to leave a local bar.

Delgado, 41, was arrested on charges of disorderly conduct, public intoxication, and resisting arrest. She was released about an hour later.

It’s unclear if the former Buccaneers cheerleader had an attorney. A telephone listing could not be found for Delgado’s home state of Florida, where she was arrested last year on a charge that she struck a man she lived with. (Read the full post about ‘Former ‘Bachelor’ Winner Arrested For Unruliness’…)

LOS ANGELES (CBS) ― Even a make-believe psychic couldn’t spot the scam when an actor disrupted a scene for “Medium” involving Patricia Arquette, who stars as psychic Allison DuBois in the NBC drama.

After the unruly extra was ejected by security, the truth became clear: He was chameleonic comic prankster Sacha Baron Cohen in his identity as outrageous fashion reporter Bruno.

It was unclear how Cohen gained entry to the set, and whether he was secretly filming his performance for his own use, according to Entertainment Weekly, which first reported the incident. But prior to the Nov. (Read the full post about ‘‘Borat’ Star Crashes NBC Drama ‘Medium’’…)

LOS ANGELES (AP) ― Prosecutors in Santa Barbara have charged Heather Locklear with misdemeanor driving under the influence, citing prescription drugs.

The California Highway Patrol said the actress showed “obvious impairment” when an officer noticed her car parked on a highway and blocking a lane in Montecito in September, but that alcohol was ruled out. She was tested for drugs at a police station and released.

Locklear, whose TV credits include “Dynasty” and “Melrose Place,” divorced from Bon Jovi guitarist Richie Sambora last year and sought treatment for anxiety and depression in June.

Locklear is scheduled for arraignment on Jan. 26. (Read the full post about ‘Prescription Drugs Cited In Locklear DUI Charge’…)

NEW YORK (AP) ― Catching the wave of a public fascination with vampires, HBO’s “True Blood” has steadily increased in stature to become the cable network’s most popular series since “The Sopranos” and “Sex and the City.”

Based on the series of Sookie Stackhouse novels written by Charlaine Harris and starring Anna Paquin in the lead character’s role, “True Blood” has grown its Sunday night viewership by 66 percent since its debut in September.

The first season finale airs this Sunday, with a second season already in production.

“True Blood” casually imagines a world where vampires, telepathic women and “shape shifters” — people who can assume the shapes of animals — are a part of everyday life in a small Louisiana town. (Read the full post about ‘Vampire Fad Boosting ‘True Blood,’ ‘Twilight’’…)