Daily Archives: March 20, 2017

From bedroom to boardroom, Supreme Court is in your business

By Nancy Benac – The influence of the court’s nine justices is hard to overstate. So pay attention as Congress prepares to take up the nomination of Judge Neil Gorsuch to join the high court.

From the time Americans roll out of bed in the morning until they turn in, the court’s rulings are woven into daily life in ways large and small.

“From the air you breathe and the water you drink to the roof over your head and the person across from you in bed, the Supreme Court touches all of that,” says Elizabeth Wydra, president of the Constitutional Accountability Center.

A walk through daily life on the lookout for Supreme Court fingerprints … more> https://goo.gl/ykUXDt

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The dangers of ultra-long-term bonds

By Judd Gregg – The dollar is the key to world commerce. It is used by most nations as their reserve currency. It is essentially other countries’ insurance against their governments pursuing profligate fiscal policy.

This fact would possibly make the sale of 50- or 100-year U.S. bonds acceptable in the world market. But it should also give us significant pause.

If we want our currency to be the reserve currency of choice around the world, then we need that currency to be respected.

If we start issuing general obligation bonds that have 50- or 100-year terms, we will inevitably call into question the long-term integrity of our nation’s fiscal house. Financing current expenses for 5, 10 or even 30 years may be an accepted practice, but to go out 50 or 100 years is not. more> https://goo.gl/t5bjEg

Updates from GE

Charged Up: GE Shows Investors Its Energy Playbook
By Tomas Kellner – The acquisition of Alstom’s energy assets delivered $1.5 billion in synergies in 2016, $300 million above GE’s original five-year target for Alstom synergies, GE’s Chief Financial Officer Jeff Bornstein told investors at a conference in New York held by GE’s Power and Renewable Energy businesses last week. “Alstom makes us more competitive,” Bornstein said. “It broadens the service base and creates long-term incremental value.”

Jobs, cash, costs and software were the key themes at the conference. Bornstein said GE Oil & Gas was now “applying the same methodology” to its planned merger with Baker Hughes. “The businesses are very complementary,” he said. “It’s going to be a merger of equals.” Bornstein said he was “highly confident” the deal would “deliver a lot more value than $1.6 billion” in synergies by 2020, the target the companies released when they announced the deal last October.

Bornstein also talked about the need to speed up the shrinking of GE’s $25 billion in “structural costs,” which are funding support functions, R&D, corporate operations and other expenses. more> https://goo.gl/z07MkD

There’s a Green Card-holder at the heart of Greek philosophy

By David V Johnson – A state that, without due process, simply ignores the rights and obligations it has extended to that legal resident makes a serious breach of its moral authority and the rule of law.

This is why the state’s treatment of its non-citizen legal residents – its visa-holders and permanent resident aliens – can say as much about its health as its treatment of citizens.

The idea that the non-citizen resident is crucial to diagnosing the state’s health is evident in Plato’s Republic.

In the course of the Republic‘s 10 books, Socrates offers a considered analysis of justice and the ideally just state. It can be simplified to one principle: justice is reason ruling.

When rationality rules in government, the state is just. Similarly, when rationality governs the emotions and desires of the soul, a person is just.

When reason fails to rule, whether in the state or the person, injustice obtains. more> https://goo.gl/oTURh3