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U.S. Postal Service to cut Saturday delivery

“The U.S. Postal Service is set to announce that it will discontinue Saturday mail delivery in a cost-saving measure that is expected to save the agency up to $2 billion per year. According to the Associated Press, package delivery will continue six days a week, but regular mail will be limited to Monday to Friday delivery. The changes are slated to take place in August. Under the new plan, Saturday delivery to post office boxes will continue and post offices that are currently open on Saturdays will remain open.” Continue reading →

Furloughed FAA employee goes on Miami shooting rampage

“A depressed Florida man shot his wife and two children before killing himself after closing his hot air balloon business and facing losing his job as a Federal Aviation Administration (FAA) inspector because of automatic budget cuts known as ‘sequestration.’ A source told CBS News that 45-year-old Carlos Zuniga was depressed in the weeks before he shot his wife 43-year-old wife, Michelle, his 14-year-old daughter, Lauren, and his 11-year-old son, Stefan. Carlos Zuniga then killed himself. Stefan Zuniga died at Jackson Memorial Hospital’s Ryder Trauma Center on Thursday morning. Both the wife and the daughter were in critical condition.” Continue reading →

The Myth of Nebraska’s Sovereignty Resolution (10th Amendment)

It’s both incredibly ironic and highly appropriate for me to be writing this article at this time. As February 2010 neared its end, I was very tired, but excited about GiN’s ongoing effort in support of what most people would identify as the State Sovereignty or Tenth Amendment Resolution. That […]

This article The Myth of Nebraska’s Sovereignty Resolution (10th Amendment) appeared first on Grassroots in Nebraska.

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Allegheny Airlines Has the Last Laugh. “Thanks, Uncle Sam!”

“Older Americans recall the jokes made at the expense of Allegheny Airlines in the 1960s and 1970s. Then it became U.S. Airways in 1979. It went bankrupt in 2002. It was able to stiff its 6,000 pilots by canceling its pension obligations in 2003. American taxpayers became responsible through ERISA. It filed bankruptcy again in 2005. This week, it may absorb American Airlines, which is in bankruptcy. The government will probably allow the merger. What does this teach us? This: if you can get out of your corporate pension liabilities through bankruptcy, you can live long and prosper. This strategy will work for municipal governments, too.” Continue reading →

U.S. Banks Bigger Than GDP as Accounting Rift Masks Risk

“Applying stricter accounting standards for derivatives and off-balance-sheet assets would make the banks twice as big as they say they are — or about the size of the U.S. economy — according to data compiled by Bloomberg. U.S. accounting rules allow banks to record a smaller portion of their derivatives than European peers and keep most mortgage-linked bonds off their books. That can underestimate the risks firms face and affect how much capital they need. Using international standards for derivatives and consolidating mortgage securitizations, JPMorgan, Bank of America and Citigroup would become the world’s three largest banks and Wells Fargo the sixth-biggest.” Continue reading →

Federal Reserve confirms its computers were hacked

“The Federal Reserve acknowledged Wednesday its computer systems were accessed by hackers but said the incident did not affect the central bank’s ‘critical operations.’ The acknowledgement came days after the hacker group known as Anonymous claimed it had posted personal information of some 4,000 bankers, purportedly obtained from the Fed. The group argues it is taking actions responding to the suicide last month of Aaron Swartz, an Internet freedom advocate who was being prosecuted for illegally downloading millions of academic journal articles he had allegedly planned to distribute for free.” Continue reading →

White House vows to aggressively combat trade secrets theft in new cybersecurity strategy document

“The US government vowed to aggressively combat a rise in the foreign theft of trade secrets amid mounting concerns over recent hacking attacks allegedly emanating from China. ‘We will continue to act vigorously to combat the theft of US trade secrets that could be used by foreign companies or foreign governments to gain an unfair economic edge,’ the strategy document says. Such ‘theft threatens American businesses, undermines national security, and places the security of the US economy in jeopardy,’ it said, putting ‘American jobs at risk.'” Continue reading →

Columbine Gunshot Survivor To Obama On Gun Control: ‘WHOSE SIDE ARE YOU ON?’

“‘It was during this time that I personally witnessed two fellow students murder twelve of my classmates and one teacher,’ he writes. ‘The assault weapons ban did not deter these two murderers, nor did the other thirty-something laws that they broke.’ Of particular note in the letter is the survivor’s insistence that Obama’s proposed regulations impede the rights of Americans and endanger them by capping magazine sizes and restricting the types of guns that are available to law-abiding citizens. ‘Why would you prefer criminals to have the ability to out-gun law-abiding citizens?,’ he asks the president in the text. ‘Whose side are you on?'” Continue reading →