Can money buy happiness???

Your thoughts?

Unhappy? That's rich . . . - Times 2 - Times Online

Doing well by doing good: The case of Costco

ABC News: Costco CEO Finds Decency Is Compatible With Profitability

Note, too, that CEO Jim Sinegal's salary of $350,000 is about 12x what the rank-and-file employees earn; the average in the US today is at about 500x that of employees. This doesn't consign him to poverty; Sinegal is also a major stockholder in a very profitable, growing company.

Your thoughts?

September Trade Deficit Numbers -- Not Good

U.S. September Trade Deficit Widens to Record $66.1 Billion

The various analysts and company spokespersons quoted in this article don't seem to be especially worried; they attribute the "record" deficits to one-time events, such as the Boeing strike and the September hurricanes. Ok, the Boeing strike is settled, and planes are shipping again, but the impact of the hurricanes isn't going to just vanish overnight.

ALso, the administration is trying to put pressure on China to (1) limit clothing exports to the US and (2) allow the yuan to float (a floating yuan will make Chinese exports more expensive in the US, and should reduce our trade deficit with China). Maybe I'm a professional pessimist, but this doesn't exactly cheer me up.

Incidentally, what's driving that $20 billion + traded eficit with China??? According to the US Census Buraeu (who tracks this information), we're buying "primarily toys, games, and sporting goods; TV’s and VCR’s; stereo equipment; and computers."

Your thoughts ?

Economic growth vs. inflation in EU

Today's news is appropriate. The ECB (European Central Bank) is keeping interest rates steady, despite pressures to cut rates to stimulate the European economy (which is facing the same energy-related problems as the US). From Business Week:

European Central Bank leaves rate steady

The euro is not just maintaing its strength against the dollar, but continuing to gain. Venezuela is shifting its reserves from US gov't securities to dollar-denominated deposits and is looking to increase it's euro holdings; is this Chavez's paranoia or a Good Idea????

Your comments?

Bush Suspends Pay Act In Areas Hit by Storm

The Davis-Bacon Act, Federal law since 1931:

"requires all contractors and subcontractors performing work on federal or District of Columbia construction contracts or federally assisted contracts in excess of $2,000 to pay their laborers and mechanics not less than the prevailing wage rates and fringe benefits for corresponding classes of laborers and mechanics employed on similar projects in the area" (Department of Labor)

For Louisiana rates, see this DoL page (scroll down to Orleans County [yes, I know it's not "county," but "parish" -- you tell the Department of Labor]).

However, it is legal to suspend enforcement in a national emergency:

Bush Suspends Pay Act In Areas Hit by Storm

Your thoughts???