December 5, 2017

2008 Media Roast (3 Hours of Profane Jokes) Proves They All Knew About Matt Lauer

The shocked faces at NBC and in the media last week claiming “nobody knew” about Matt Lauer’s harassment and abuse of women became impossible to believe Tuesday evening. That’s when Brian Flood Fox News, partly cribbing from a still-available October 2008 story at the Village Voice, revealed that a celebrity roast that month in Lauer’s honor “left little doubt that Lauer’s colleagues (and those in attendance) knew NBC’s biggest star had a troubled marriage and a wandering eye.” The Voice’s account of the event also serves as an especially revealing and depressing window into the lack of values and the sick sense of “humor” among the elites in entertainment and the media — and that was nine years ago.

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Bloomberg Won’t Directly Say Why Chicago Bakery Lost One-Third of Its Workforce

In a story which should have been recognized at least two months and possibly 5-6 months ago but which remained unreported until last week, a Chicago bakery lost one-third of its workforce in July. Press reports during the past week, most prominently one from Bloomberg News seen in the Chicago Tribune and elsewhere, won’t directly admit what should be obvious, though the company involved is implausibly denying it: The workers were illegal immigrants.

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November ISM Non-Manufacturing: 57.4 Percent, Down from 60.1 Percent in October

Filed under: Economy — Tom @ 10:01 am

As noted yesterday, there’s a bit of drama here, as a rise in this index from October’s 60.1 percent would be a nine-plus year record for this index. (ISM revised the methodology it used in its old “services” index in 2008.)

CNBC reported earlier this week that FactSet expects the reading to drop to a still very healthy 59.0 percent.

HERE’S THE REPORT — A letdown, though not yet a cause for significant concern (bolds and paragraph breaks added by me):

Economic activity in the non-manufacturing sector grew in November for the 95th consecutive month, say the nation’s purchasing and supply executives in the latest Non-Manufacturing ISM® Report On Business®.

The NMI® registered 57.4 percent, which is 2.7 percentage points lower than the October reading of 60.1 percent. This represents continued growth in the non-manufacturing sector at a slower rate.

The Non-Manufacturing Business Activity Index decreased to 61.4 percent, 0.8 percentage point lower than the October reading of 62.2 percent, reflecting growth for the 100th consecutive month, at a slightly slower rate in November. The New Orders Index registered 58.7 percent, 4.1 percentage points lower than the reading of 62.8 percent in October.

The Employment Index decreased 2.2 percentage points in November to 55.3 percent from the October reading of 57.5 percent. The Prices Index decreased by 2 percentage points from the October reading of 62.7 percent to 60.7 percent, indicating prices increased in November for the sixth consecutive month.

According to the NMI®, 16 non-manufacturing industries reported growth. The rate of growth has lessened in the non-manufacturing sector after two very strong months of growth. Comments from the survey respondents indicate that the economy and sector will continue to grow for the remainder of the year.

The 16 non-manufacturing industries reporting growth in November — listed in order — are: Retail Trade; Wholesale Trade; Utilities; Transportation & Warehousing; Real Estate, Rental & Leasing; Educational Services; Health Care & Social Assistance; Arts, Entertainment & Recreation; Other Services; Public Administration; Information; Finance & Insurance; Construction; Management of Companies & Support Services; Accommodation & Food Services; and Professional, Scientific & Technical Services. The only industry reporting contraction in November is Agriculture, Forestry, Fishing & Hunting.

This may seem contrarian, but I’m seeing the drop in the Business Activity and New Orders elements as a bit of a relief, because they should mean that inflationary concerns shouldn’t be as serious, and that the Fed won’t overreact and raise interest rates too quickly.

Backlog of Orders, the third major GDP driver, fell to 51.5 percent from 53.5 percent. That’s still positive, but I don’t want to see that value drop below 50 percent.

If we have a repeat of the 2.7-point drop next month, it might be time to get just a little nervous, but I don’t see that happening.

Tuesday Off-Topic (Moderated) Open Thread (120517)

Filed under: Lucid Links — Tom @ 9:45 am

This open thread is meant for commenters to post on items either briefly noted below (if any) or otherwise not covered at this blog. Rules are here.

Positivity: Pa. trooper wounded during gun battle is out of the ICU

Filed under: Positivity — Tom @ 9:40 am

A month ago, Officer Kelly was in “extremely critical condition, so yes, this is good news. Let’s hope and pray that his recovery continues.

From Fountain Hill, Pennsylvania:

Dec 1, 2017

Cpl. Seth Kelly, a Pennsylvania state trooper wounded during a gun battle Nov. 7 in Plainfield Township, has been moved out of the intensive care unit at the hospital where he has been undergoing treatment, according to state police.

Kelly remains at St. Luke’s Hospital-Fountain Hill, where he continues to recover from gunshot wounds to his neck, shoulder and thigh, authorities say. On Wednesday, Kelly’s condition improved enough that he was moved out of the ICU, said Capt. Richard D’Ambrosio, commander of the Troop M barracks where Kelly works.

The 13-year veteran of the state police and husband of a Forks Township detective still has a lengthy recovery before him, authorities say.

Kelly was one of two troopers involved in a routine traffic stop along Route 33, authorities say. The man charged in Kelly’s shooting, 22-year-old Daniel Clary, fought with troopers, trying to grab one trooper’s handgun from his holster and dashing to his car, where he grabbed a gun and opened fire, state police say. Troopers returned fire and Clary was also shot several times in the melee.

Northampton County District Attorney John Morganelli said the troopers’ use of force was justified, saying both Kelly and Trooper Ryan Seiple showed restraint during the incident. Authorities say Kelly likely saved his own life by applying a tourniquet to stem his blood loss from his wounds.

Clary remains in jail under $1 million bail, where he is awaiting trial on charges that include two counts of attempted murder of a police officer. …

Go here for the rest of the story.