- Stephen Bainbridge at TCS Daily (HT Instapundit) thinks that CBS may have a pretty good case in its suit against Howard Stern. Of course, Stern’s pushing back.
- Hong Kong — Another budget surplus, another tax reduction (HT Stefan Karlsson’s Blog). Actually, it’s the first cut in 8 years, but taxes have traditionally been very low in Hong Kong, and fortunately for the rest of the world, the mainland has mostly left Hong Kong’s economy alone since Great Britain handed it over almost 9 years ago. Hong Kong’s government is worried that the island’s 2005 growth rate was “only 7.3%,” compared to 2004′s 8.6%. If this tiny island nation can routinely grow this fast, why do we break out in inflation-fearing hives any time growth gets above 4%?
- I would think that if the “movement” to impeach President Bush is ever to gain any kind of traction, it might be a good idea to have someone other than the guy discussed here out front leading the charge (4th paragraph at link).
- Bankrupt Northwest Airlines lost $1.3 billion in the fourth quarter of 2005 and $2.6 billion for the year — The company say if it can’t cut concesssion deals with pilots and flight attendants, it may have to liquidate. That does not appear to be an idle threat. The flight attendants have a tentative deal, but ratification appears far from certain.
- At the other major bankrupt airline, Delta’s situation with its pilots, though a little less immediately threatening, isn’t that much better.
- Mostly the same story, different month in vehicle sales — Ford and GM were both down (2.5% and 3%, respectively), and Daimler Chrysler was up a bit (3%). The surprise is that Toyota only had a 2.4% increase, when 10% was expected. Honda had the best month of the biggies, with an 8.7% jump.
- 100 Days of Merkel — In Germany, Angela Merkel is riding high (as high as 80%) in the polls, thanks largely to her performance on the international stage, but precious little has been done to deal with deep-seated economic problems.
- Are state and municipal tax incentives unconstitutional? I’d like to think so. They give special favors to certain businesses, effectively penalizing other businesses that have to take up the rest of the tax burden, and in my opinion violating equal protection. If a state or city wants to be competitive, it needs to have a low tax structure for all individuals and businesses that would make a company want to locate or grow there. The Supreme Court heard arguments today regarding the giveaways to Daimler Chrysler for building the new Jeep plant in Toledo. The ruling, when it comes, will be important. Looking at a complete list of the different types of incentives offered by each state, you can’t help but notice, for the most part, that the ones with the smallest selections of incentives are the ones that are growing the fastest.