Friday, June 26, 2009
Rite Aid
According to its Web site, the notes "will be unsecured, unsubordinated obligations of Rite Aid Corporation and will be guaranteed by substantially all of Rite Aid's subsidiaries."
This offering is part of Rite Aid's comprehensive plan to refinance its 2010 debt maturities.
Rite Aid also announced in April, 2009, that it will be closing its distribution center in Newnan, Ga., by the end of September, 2009, according to Reuters.
Case Study Chapter 6
What the public didn't know was that several of Judge Long's rulings, 39 in fact, had been reversed by the appellate court in less than three years.
Investigative reporter Charles Miller, of the Middleton Daily News, found out the judge seemed to be abusing his power. In one case, Judge Long dismissed a juror stating, "the trial court may exercise its discretion and replace any juror who is experiencing a great deal of anxiety."
When the defendant's attorney asked to bring the juror in to find out if that was the situation, the judge said, "No, I'm not going to do that."
The judge didn't speak with the media, so Miller caught him in the courtroom just before returning to his chambers and asked him about the reversals of several of his cases.
Judge Long was not pleased and asked Miller if he was the reporter who wrote stories about police brutality. He defended the police officers for risking their lives on a daily basis for their community.
Miller did not get an answer from Judge Long about the reversals, but reported the story on his findings anyway. The public was not happy. They knew the judge to be a fair and honest man. Miller and the Middleston Daily News were scrutinized for being "soft on crime."
However, the owner and publisher of the newspaper was behind Miller's reporting. "The Old Man" wrote an editorial about Judge Long's "arrogant self-aggrandizement and propagation of incompetence" career. Clearly, the Old Man wasn't fond of the judge's practices.
Public opinion of Miller, the newspaper and Judge Long changed quickly. Judge Long took a sudden leave of absence and returned to a private practice of criminal law.
The public does not investigate elected officials. They see only what is on the surface and vote accordingly. It is up to investigative journalists to reveal discrepancies in a so-thought "squeaky clean" official.
Financial Disclosures for Alan Mollohan
Alan B. Mollohan did not seem to be affected by the harsh economy of 2008. According to his financial disclosure documents, Mollohan’s income from 2007 to 2008 increased by $11,500 to $39,800 mainly from rent and income from a property ownership and management. Some income also came from royalties. That is an 11 percent increase from one year to the next.
The documents indicated Mollohan’s his personal assets from several rental properties and investments increased by $250,100 to $500,000, a 4 percent increase.
Eun Kyung Kim, reporter for FloridaToday.com, said, “All members of Congress are required to file personal disclosure statements annually, but they are required to report their assets and liabilities only in broad ranges, rather than specific amounts.”
According to the Center for Responsive Politics, opensecrets.org, members of Congress make approximately $169,000 annually. During a time when the economy isn’t doing well, many Americans are struggling while political figures are comfortable, to say the least.
However, several of these political figures have been caught in what some might consider a scandal.
In 2006, Mollohan’s personal assets totaled more than $6 million, which was quite an increase from 2000 when his assets totaled less than $600,000, according to the Pittsburgh-Tribune Review.
Because of this, the congressman was under federal investigation in 2007 for "omitting or misrepresenting personal financial dealings on required disclosure statements," said the Pittsburgh-Tribune Review.
Ken Boehm, chairman of the National Legal and Policy Center said the complaint included "real estate purchases Mollohan made with people heading companies or organizations that received federal funds he earmarked."
The Pittsburgh-Tribune Review said in 2006, Mollohan explained "inadvertent errors" on his financial reports as appreciated real estate holding and an inheritance from his father in a share of a Morgantown hotel.
Mollohan’s financial disclosures for 2003, 2004 and 2005 were each amended for different reasons.
His 2003 financial disclosure form was amended to show half ownership with his wife for “HHM, LLC, and a partnership created for property, ownership and management in Bald Head Island, N.C.,” according to Legistorm.com.
In 2004, Mollohan received a loan from Don and Laura Kuhn of Fairmont, W.Va., in the amount of $35,000, which he amended his financial disclosure to reflect. The Mollohans’ and Kuhns’ were in a 50/50 partnership to invest in five lots of land on Bald Head Island, N.C., which were bought for resale.
Mollohan’s wife received payment and interest in 2005 for Building Revenue Bond of Kanawha County, W.Va. Mollohan said the bonds were not in his wife’s possession at the time they were redeemed, but he amended his financial disclose to include the income and interest.
Mollohan seems to be reporting the right numbers lately, but the Washington Post reported Mollohan said in an interview he was unapologetic and proud of the thousands of jobs he brought to West Virginia, stating, “Legally speaking, everything he has done to secure (the jobs) is “squeaky clean”.”
However, Mollohan said, "I would have done things differently." "It puts you in a position where people could say there's something untoward going on," he said, according to the Post.
While the “scandal” hurt Mollohan’s reputation in Washington, the Post reported residents of West Virginia welcoming Mollohan home with open arms. He even received a standing ovation at a meeting about a missing child alert system that his legislation had underwritten in Morgantown, W.Va.
Mollohan is still working toward bettering the state of West Virginia. The House of Representatives passed Mollohan’s appropriations bill June 22, 2009, to “strengthen the federal government’s commitment to prevent and fight crime,” according to his Web site.
It seems that Mollohan’s financial disclosure set back didn’t hurt his career. He is still working with Congress and has quite a few more bucks in the bank than most West Virginians.
Road Salt Update
Saturday, June 20, 2009
Road Salt
USA Today reported in 2008 cities trying to stock up on road salt before snow came. With the cost of transportation and demand for salt high, and supply low, the report said the cost of a ton of road salt had doubled, and in some places tripled.
West Virginia experienced a shortage like many other states. Bob Whipp, district six engineer, said his company used to salt roads in Wheeling, W.Va., twice to speed up the melting process. However, last November his company only used the minimun amount recommended by the American Salt Institute.
The new stories about the shortage of salt are compelling enough, but why was there such a shortage? That's just what I'll ask the Salt Institute. Check back to find out.
Car Dealerships Much Better Off Than Last Summer
Just a year ago, the auto industry was in trouble and W.Va. was one of the states affected by high gas prices, according to New York Times’ Clifford Krauss. He said, “The combination of low incomes, high gas prices and heavy dependence on pickup trucks and vans is putting an even tighter squeeze on family budgets.”
Now, a year later, Krauss said the national average for gas is almost $2.62 a gallon. The gas price increase from that of early 2009 has not helped struggling Americans who are dealing with other issues, like unemployment due to the recession.
Car dealerships in W.Va., Ohio and Ky. have lost some business due to rising gas prices. David Adkins, sales and Internet manager for Turnpike Ford of Huntington, said the dealership hasn’t received any trucks on recent shipments. The dealership receives an allotment of vehicles based on their sales and since truck sales have declined, Turnpike Ford will receive only compact cars on their next shipment, Adkins said.
Jerry Cole, new-car sales manager at Glockner GM Superstore said when gas prices increase, customers bring in their truck or SUV for trade-in. He said he hasn’t sold many fuel-efficient vehicles, though, because when gas prices hit $3 a gallon, sales decline. “A lot of it is psychological,” Cole said. He and Kirk Gillenwater, sales consultant for Bedford South Point Ford, said customers still need their vehicles, but they have to get over the “first initial shock” of rising gas prices.
Gillenwater said in Appalachia, “trucks are used for lively-hood.” He said Bedford South Point Ford has sold, “a whole bunch of trucks.” Trucks are used more in W.Va., Ohio and Ky. than in other parts of the U.S., he said. However, he pointed out a dilemma the dealership has run in to recently.
He said rising gas prices have affected the dealership by lowering the resale value of vehicles, especially trucks. Gillenwater said a low resale value benefits his dealership when buying trucks at an auction. He can purchase the trucks for a low cost and if gas prices decline, he can sell those trucks at the estimated retail value. When dealing with trade-ins, however, Gillenwater said he loses money to his customers when gas prices are high.
Car dealerships companies do not lose much money on gasoline costs, though. Adkins said his dealership, Turnpike Ford of Huntington, keeps a quarter of a tank full in each car on its lot for test-drives. Other than that, the dealership doesn’t spend money on gasoline. Adkins and Cole said new vehicles shipped from manufacturers cost nothing to the dealership.
After a customer has purchased a vehicle, the dealership fills up the tank upon delivery, Cole said. There is also the cost of fuel to ship cars to houses or other dealerships, but the cost isn’t enough to worry about, according to Cole’s light tone.
Glockner GM Superstore has its own oil company, Glockner Oil. Cole said he uses the oil tank on site to fill the cars with gas. He said it is an expense to fill the tank, but takes out the hassle of driving to the nearest gas station. The vehicles on the Glockner lot get Glockner oil.
Krauss said rising gas prices in rural cities hurt not only the car dealership industry, but also consumers. Now, since prices aren’t soaring like they were, dealerships are beginning to rebound. Some are even staying afloat with recent car sales. But if gas prices increase quickly again, it looks close several more dealerships.
Wednesday, June 17, 2009
Gas Prices No Longer an Issue for Car Dealerships
One way rising gas prices have affected dealerships is in the resale value of a vehicle. A sales consultant with Bedford South Point Ford said the value of a truck at an auction or dealing with a trade-in will not be what it was before gas hit close to $4 a gallon last summer.
He pointed out when the value of a truck at an auction is low, it is the best time to buy several because gas prices will go down and the demand for trucks will rise.
He also mentioned many residents along Appalachia use trucks for their lively-hood so the demand will stay steady in this part of the U.S.
A sales and Internet manager for Turnpike Ford of Huntington said when gas prices rise, Turnpike Ford actually has a high number of compact cars sales. Obviously, truck sales decrease for them as well when gas prices rise.
As far as receiving shipments of new cars from dealers, car dealerships don't pay the cost of those shipments. The dealer endures it.
There will be more to come about this story. But as for now, car sales seem to be steady or rising, recession or not!
Investigative Reporting at its Finest
Abcnews.com spoke with the executive director of the Humane Society of Berks County, PA, about the allegations of animal abuse in the Gosselin home. The Web site reporters had Jon’s view on it to “set the record straight.” Also, the reporters spoke with Pennsylvania’s Labor Department about accusations of violating child labor laws.
Abcnews.com spoke with Jon Gosselin on the subject matter and had quotes from him given to other news media. The Web site also used quotes from Kate Gosselin to People Magazine.
In Touch Weekly posted a picture of Kate Gosselin spanking one of her female children outside their home. The magazine quoted an eye witness who said the child was “screaming and crying” and when Kate stopped spanking her, “pushed (the child) away and walked off with her coffee.”
The picture does aid the reader by showing Kate spanking her child, but it doesn’t look as if she is being overly harsh or the child is in extreme pain.
I think this story affects parents nationwide and alerts Child Protective Services workers to what can be classified as “beating.” Also, “Jon and Kate Plus Eight” is a widely viewed reality series on TLC. Many people watch the show and have followed the recent events involving the Gosselins.
There is definitely a follow-up to this story. Karel Minor, executive director of the Human Society of Berks County, PA, has already said there is no reason to suspect animal cruelty in the Gosselin home. But the question of child labor laws being violated has not yet been determined by the Pennsylvania Labor Department.
I think the headlines for the stories about the Gosselins’ can be misinterpreted to favor the parents or children. “Is Kate Gosselin Spanking Her Kids, Losing Control?” seems a bit dramatic. Parents discipline their children all the time, but it is not considered losing control.
Abcnews.com did get some of their own information, but the reporters used other information from different magazines to follow-up with professionals, such as the TLC spokeswoman and the executive director for the Human Society of Berks County, PA.
Another example is a story about Britain’s interior minister, Jacqui Smith resigning her post. A copy of her parliamentary expenses shows she claimed two pornographic movies her husband reportedly ordered. In March, she said she mistakenly claimed the pay-per-view movies to an Internet connection bill she had submitted.
This story involves a public figure with something that should have been left private. There were also questionable expense sheets from other members of parliament being looked in to.
The article doesn’t include a quote from Smith, but it said a source close to her said she told the prime minister it was “time to go at the next reshuffle.”
The article includes a picture of Smith, but it does nothing to further the story.
Almost every citizen of Britain was very concerned after reading this story. The taxpayers are essentially paying for these expenses and are outraged to know it was for something as disgusting as pornographic movies.
Smith has already resigned, but other members are under investitgation. It is uncertain whether or not other parliament members will resign.
The copy of Smith’s parliamentary expense sheet was crucial in determining whether or not the allegations of pornographic movies being claimed, were true.
Case Studies
The original reporter, Wright, turned the story over to his editor because he didn't want any backlash from the sheriff's office. The office had always tipped Wright off when they had a story, but only gave him information when it would put the sheriff's office in a good light. Wright should have covered the story because it was his assigned beat and he should report all things, not only good. However, by turning the story over to the investigative reporter, Miller, Wright kept a good relationship with current officers. Miller did his job well. He didn’t hold anything back for fear of upsetting someone and he found the proof he needed without revealing his sources. The public had a right to know who they had voted in to office previously.
Case study two was about a reporter who often checked public records at city hall for interesting facts that could be investigated and turned into stories. She found out one such fact about the mayor buying properties, renovating them and selling them for much more than he paid. In the end, she could not prove any illegal wrongdoing by the mayor, but had city hall on alert of her presence.
The reporter, Benton knew something was not quite right with the way the mayor renovated such properties and found out city employees were doing such renovations with city funds. Also, a former reporter who now worked for the mayor, knew Benton’s tactics and tried to stop her before she came. Benton, however, pressed on with the story and got the public’s attention. They wanted the mayor ousted from office. Although, he wasn’t kicked out, the public certainly had a different view of him.
Tuesday, June 16, 2009
Urban Renewal Authority Meeting
Friday, June 12, 2009
Urban Renewal Authority
Thursday, June 11, 2009
Reaction to President Obama's speech in Cairo
Americans supported their nation during the Iranian Hostage Crisis. The yellow ribbon became a symbol for the safe return of the American hostages to the U.S. But Americans were not happy with Iranians as a whole. Several protested saying Carter should deport all Iranians living in the U.S. Carter did everything he could think of to ensure the American hostages’ safe return.
Some Americans and especially Iranians say Carter’s visit to Iran and his relationship with the Shah caused the Iranian Hostage Crisis. They also believe the crisis and Carter’s acts while in office caused the torn relations between Iran and the U.S. today.
There was a small debate about what the president actually said to the audience. Rumor had it a rough translation of what the president actually said was, “I am a jelly doughnut.” However, most sites dispel this rumor. From the cheers of the crowd, it was certain no one thought the president said he was a jelly doughnut. They knew he was tying to unite free men everywhere.
Fleishman said Obama’s speech lacked policy details, but Obama’s candidness made up for that. But Obama admitted the U.S. made mistakes in Iraq and the Iraqis wanted to hear the U.S. basically say we’re not perfect. Obama insisted it was the extremists who led Muslims to believe America was the enemy and that he would “relentlessly confront” extremists and urge Muslims to do the same. Obama wants Muslims to realize terrorist groups and Osama bin Laden are violent people who won’t listen to reason or negotiate peace.
However, Muslim-Americans seemed to relate to and agree with many things the President mentioned. One Muslim-American said to the Washington Post, Obama was able to show the accomplishments and Americanism of Muslim-Americans stating, “This is a 180-degree turn from the Bush Administration.” I think Americans and Muslims can agree the Presidency of Barak Obama will be an immense difference from that of Bush’s.
Unfortunately, Iraqis and Iranians will take almost anything President Obama says with a grain of salt. They have heard several words of encouragement and hope, but have yet to see action from the U.S. in giving them the respect they want. Hazim Al-Nuaimi an analyst at Baghdad University said, “He gave nothing new to Iraqis. He gave one promise, to respect the rights of minorities and work with consensus. In all he says, he tries to remove himself from all that
happened in Iraq."
In a reaction piece written by Campbell Robertson of the New York Times, he said on the day of the speech in Iraq, a man tried to change the channel to see it at a restaurant and others shouted at him, “What a stupid speech!” But a political science professor at the University of Mosul had words of encouragement; “It is a chance that Muslims and Arabs must seize, if they hope for better solutions in the Middle East.”
It will take time to see real results from Obama’s strategies and he certainly cannot please everyone. With his Muslim heritage and open attitude to change, Obama will play a key role in bridging the divide between the two worlds. One thing is for certain, he seems to be making more progress in the first six months than some presidents have done in their entire presidency.
Wednesday, June 10, 2009
Famous Presidential Speeches Overseas
When Jimmy Carter visited Iran in January 1978, he made a toast to the dictating Shah of Iran stating, “An island of stability in a turbulent corner of the world.” He went on to praise the Shah for attempting modernity in Iran. Iranians who originally supported Carter in his talks about human rights were outraged. Shortly after Carter’s toast, the Shah and his family were run out of Iran and student radicals, supported by the new regime, seized the American embassy in Iran. Once Ronald Reagan took over the Presidency, the hostages were released. This unfortunate chain of events followed Carter’s legacy.
John F. Kennedy said to a Berlin crowd in June 1963 he knew of people who couldn’t see a difference between Communism and freedom. His famous line was, “Let them come to Berlin.” Each time he said this, the crowd cheered. Kennedy became even more popular by saying, “Ich bin ein Berliner,” meaning “I am a Berliner.” Kennedy gave hope to Berliners that Communism would not prevail.
Lastly, President Barak Obama visited Cairo, Egypt and spoke to Muslims about fixing the perception Muslims had of the United States. He mentioned he would pull American troops from Iraq by 2012 leaving Iraqis’ to their country. Some Americans feel Obama’s speech will help strengthen relations between Muslims who have had an ill view of the U.S. since the beginning of the war in Iraq. However, according to Campbell Robertson of the New York Times, Iraqis were unimpressed by Obama’s speech. Iraqi politicians resented Obama for thinking he can change the U.S.’s and Israel’s relationships’ with Iraq and Iran with one speech.
However, Muslim-Americans seemed to relate to and agree with many things the President mentioned. One Muslim-American said Obama was able to show the accomplishments and Americanism of Muslim-Americans stating, “This is a 180-degree turn from the Bush Administration.” I think Americans and Muslims can agree the Presidency of Barak Obama will be an immense difference from that of Bush’s.
Tuesday, June 9, 2009
Increase in Gas Prices Puts Car Dealerships Under
I've chosen to research three major car dealerships in the area to see how much money they're spending on gas to ship cars to their lots, fill up cars for test drives, etc. Also, I'd like to see what the decline in sales has been since the recession and gas prices rising again.
For this story, I will interview the general managers of three car dealerships in the Tri-State area about the increase or decrease in car sales over the last year. I will also interview their service department managers to see if more consumers are bringing their cars in for service rather than trading in.