Open Forum

Monday again!

Community investment funds are in trouble, says the front page of the Courant.

There’s some speculative grumbling about the the kind of treatment the son of Dan Malloy is expected to get in court. Of course, nothing has happened yet, so this is kind of an odd article to run.

Sen. Chris Dodd was savaged in editorials around the state this weekend. Here’s one, and here’s another.

The deadline to register to vote in tomorrow’s special election in Bloomfield and Windsor (15th House district) is today at noon.

You can now get a tattoo in New London.

Jim Himes confronts anger over TARP–from constituents who work for companies benefited by the bill.

Lastly, an alligator was found wandering around South Windsor. Weird!

What else is going on?

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11 responses to “Open Forum

  1. I’m not saying that Malloy’s son should be an issue in a campaign. But it is funny how everyone is saying this shouldn’t be talked about when this past election the actions of a child of a candidate was certainly an issue.

  2. wtfdnucsailor

    According to an article in this morning’s New London DAY, the First Selectman of Stonington is concerned that the Stonington Board of Finance has cut too much from the FY2010 Budget
    http://www.theday.com/re.aspx?re=861868da-d184-4b59-a712-e4d88f8553b0
    The Board of Finance is targeting a zero increase budget to avoid the five referenda that were held last year. To do that the BOF made big cuts in both the education and the general government budgets.
    In another town of Eastern CT, Griswold, the Board of Finance is also targeting a zero increase budget.
    http://www.theday.com/re.aspx?re=928592db-28d1-420b-afb2-505ee8aa06d3
    That seems to be the order of the day. It is a tough target to reach and may require some towns to cut into bone and senew as they work to eliminate the fat.

  3. wtfdnucsailor

    According to the New London DAY this morning, Governor Rell has announced that it will be possible to track CT use of the stimulus money by going to http://www.ct.gov and clicking on the CT recovery link. Will we really be able to follow the mone?

  4. In other news, Phoenix CEO Dona D. Young is “retiring”, next month:
    http://www.courant.com/business/hc-phoenix-ceo-young-retire-0323,0,2062968.story

    This is a move that is long overdue… her time at Phoenix has been marked by hundreds of layoffs, a plunging stock price, ratings downgrades, and loss of major distributors.

    Young had no place being CEO… she lacked the vision and managerial competency needed in that job. It was largely due to the favor of former CEO Bob Fiondella that she ascended to the position. Hopefully the new CEO will bring a sense of vision badly needed by that company.

  5. This is a move that is long overdue… her time at Phoenix has been marked by hundreds of layoffs, a plunging stock price, ratings downgrades, and loss of major distributors.

    Does she get a bonus?

  6. Does she get a bonus?

    With what she’s done to that company, I can tell you she doesn’t deserve one. Shareholders, policyholders, and employees all took a haircut under her leadership. Her bloated compensation package has been the sole beneficiary of Phoenix largesse.

    Regarding executive compensation there are two problems. The first is the short-term structure of bonuses and incentives. The second is the clubby culture of boards of directors has impeded their ability to appropriately represent shareholder interests in compensation matters.

    I don’t doubt that she’ll walk out the door with a suitcase full of cash, just like Bob Fiondella and all his lackeys did.

  7. Kevin Rennie is now reporting that Dodd’s wife was a director from 2000 to 2004 of a company controlled by AIG. Wonder how she got that job?

  8. I’m not saying that Malloy’s son should be an issue in a campaign. But it is funny how everyone is saying this shouldn’t be talked about when this past election the actions of a child of a candidate was certainly an issue.

    The difference is that Malloy is not using his kid as a campaign prop like Palin did. Palin, not the media, made her parenting a campaign issue. Do you remember the RNC? They dragged that kid out of the Alaskan wilderness, gave him a haircut and a suit, and more than likely instructed him to hold the girl’s hand everytime the camera cut to him. “She’s pregnant, she’s keepin it, and gosh darnit they’re gettin married so all you pro-choicers can love it or leave it baby. This is AMERICA.”

    Somehow I don’t see Malloy trying to exploit his family’s misfortune for political gain….

  9. AndersonScooper

    Here’s a working link to Rennie’s hit-piece on Mrs. Dodd:
    Dodd’s Wife a Former Director of Bermuda-Based IPC Holdings, an AIG Controlled Company.

  10. Regarding executive compensation there are two problems. The first is the short-term structure of bonuses and incentives. The second is the clubby culture of boards of directors has impeded their ability to appropriately represent shareholder interests in compensation matters.

    Don’t disagree, particularly with Financial Companies where short term gains can turn into long term losses. However, one answer is to rely more on resticted stock and stock options ( rather than cash) with longer holding periods that more accurately relate to the periods of time needed to prove out the sustainability of the short term gains.
    Unfortunately the rules requiring stock options be valued for earnings purposes have discouraged more of this, but maybe the recent experience with options going under water may result in some those rules being relaxed.

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