04.29.07
Posted in Finance, News at 2:08 pm by Valentine
A recent rumor suggests the Democratic leadership has reached consensus on a plan to “reform” the Alternative Minimum Tax. While I’ve never met a tax that was broadly popular, the AMT has received more than its share of bad press in recent years. Why so much angst?
Originally created in 1969 to answer a couple dozen millionaires who had creatively used massive deductions to eliminate their tax liability, the AMT is a parallel tax system with a higher exemption ($62,550 for the 2006 tax year), fewer allowable deductions, and a lower top tax rate. Those who might potentially be eligible must calculate their tax bill under both systems, with their actual liability being the greater of the two. (In strict usage, the term “AMT” refers only to the amount owed that is above and beyond the regular income tax.)
So, who is affected? Read the rest of this entry »
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04.27.07
Posted in Baseball at 12:16 pm by Valentine
With the slumping 8-12 Yankees mired in last place in the AL East, perhaps their marketing department could use some ideas for promotions to put fannies in the seats this weekend? What about… Read the rest of this entry »
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04.26.07
Posted in News at 8:44 pm by Valentine
Massachusetts prides itself on being progressive. It remains the only one of the 50 states to permit same-sex marriages, is seeking to implement universal health insurance, and was the first in the nation to establish a system for awarding and trading greenhouse gas emissions credits. While this willingness to lead is laudable, even if one does not always agree with the goals, I fear that trailblazing legislation is also prone to misstep.
In today’s Globe we read, “The Boston City Council wants to ban the use of plastic shopping bags at supermarkets, pharmacies, and convenience stores in the city, saying the ubiquitous bags are a hazard to the environment and a maddening blight of the landscape.” To borrow an analogy from the president of the Massachusetts Food Association, this proposed legislation is like attempting to swat a fly with a sledgehammer. Not only are you likely to wreak a lot of unintended damage, but you most likely won’t even kill the fly! Read the rest of this entry »
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04.21.07
Posted in Baseball at 10:01 pm by Valentine
Sorted by soxprospects.com rankings, the premier source for information on Red Sox Prospects:
- Jacoby Ellsbury (AA) 19-40, .475/.523/.750, 9 XBH, 4-1 SB-CS
- Pawtucket’s outfield is crowded by David Murphy, Brandon Moss, and fifth-outfielder reserve Alex Ochoa, so Ellsbury got sent back to Portland. No surprise that he’s romping like Jerome Bettis in a Pop Warner game! First injury (at either the major league or AAA level) and he’ll be promoted. Read the rest of this entry »
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04.20.07
Posted in Baseball at 1:13 pm by Valentine
Once again, the Red Sox/Yankees rivalry is renewed. Godzilla vs. Mothra, Empire vs. Rebellion, the Captains of the West vs. the Host of Mordor, this is an epic confrontation that never seems to go stale! Remember Jason “Juice” Giambi and his game 7 home runs? Pedro Martinez tackled by Don Zimmer. Aaron Boone. Bronson Arroyo tagging out “Slappy”. A bloody sock and the World’s Greatest Comeback, redeeming those earlier defeats. So many terrific games!
Boston and New York sit atop the AL East, with the Red Sox leading by a slim one game lead. Yet each team has taken a different path. Riding a burst of power from Hall of Fame talent Alex Rodriguez (.351/.418/.965, 10 HR, 26 RBI), the Yankees have scored 91 times. Averaging 6.5 R/G, they have outproduced the league and their opponents by a 45% margin! In contrast, the Red Sox offense has sputtered while their pitching leads the league with a 2.58 ERA.
Can four aces beat a full house? Read the rest of this entry »
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04.19.07
Posted in Finance at 8:41 pm by Valentine
This op-ed piece in the Trenton Times by the founder of the “National Black Chamber of Commerce” suggests that those hoping to buy homes in the future are the ultimate victims, blaming the problem on “borrowers who knowingly took out mortgages with terms that were above their means”. He advises, “State and federal legislators and regulators must intervene on behalf of renters, savers and aspiring homeowners. Intervention in this case means enforcing the laws already on the books that are meant to prevent fraud and exploitative and predatory lending.”
Comment: Enforcing laws is good…
Another exceptionally unsympathetic take. Read the rest of this entry »
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Posted in Baseball at 12:55 pm by Valentine
Four batters into the first inning last night, Felix Hernandez took himself out of the game with “tightness” in his pitching elbow. Ironically this start came against the Twins, who just last year lost Francisco Liriano to Tommy John surgery. Liriano was terrific last year through May (1.13 ERA), June (2.31 ERA), and July (1.51 ERA). He seemed certain to win Rookie Of The Year honors, and had even begun to gain mention for the Cy Young. Then the following drama began to unfold (see here for the full chronology and quotes):
Read the rest of this entry »
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04.18.07
Posted in Finance at 5:13 pm by Valentine
I’m still trying to assimilate the details of the “subprime crisis“. From the borrower’s perspective, a mortgage is pretty simple. You borrow money and promise to pay it back with interest. Break that promise and the lender takes your home. Adjustable rate mortgages are in theory only slightly more complicated — you get a lower initial rate, but take a chance that the rate will increase.
Here’s where it starts to smell fishy:
Read the rest of this entry »
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04.17.07
Posted in Baseball at 11:12 am by Valentine
Along with the entire Nation, I thoroughly enjoyed the Red Sox dismantling of the Angels. Lackey, Santana, and even Carrasco are decent pitchers; the Angels bullpen is rightly acclaimed as one of the best in the game. Yet in a classic Fenway sweep, the Red Sox bats pounded them for 25 runs over (adding insult to injury) a scant 24 innings!
Let’s not take anything away from the Sox starters. Wakefield, Schilling, and Beckett were masterful, allowing only 2 runs over 21 innings for a composite ERA of 0.86. The bullpen got in a few jabs of its own, conceding only 1 run in 6 innings of work — and escaping unscathed from a critical situation in Game 1. Even the weather cooperated, making Jered Weaver a problem for another team to solve, and pushing Julian Tavarez back three more days (the less we see of him, the better).
Read the rest of this entry »
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04.16.07
Posted in Children at 6:49 pm by Valentine
Spring can be a frustrating time for a New England gardener. The sun hangs in the sky until well past dinner, but the temperature holds in the forties and the ground is perpetually soggy. Having earlier planted two fruit trees, today I am widening the beds to accommodate a couple dozen dry-root strawberries. “You must be an optimist,” comments a passing driver. “That I am,” I reply, while wondering whether he refers to the building nor’easter or the faith required to envision the twisted roots I am sticking in the ground bearing fruit in a mere sixty days. I finish and clean up ahead of the downpour.
Yet for every packet of seeds that I sow, three more turn up that insist they want to get started “as soon as the soil can be worked in the early spring”. Is it time, they question? I’ll get to you soon, I promise. I opened the wrong cabinet in the basement this weekend, only to encounter questing tentacles from the seed potatoes. Where is our soil, our sun? Inside their winter bags I hear whispers from the gladiolus, importuning me with pleas for a gentle burial in a warm plot of soil. Patience, patience, I reply.
After six months of cold and damp, I too am ready to stretch my arms in the garden sunshine. To finally clear the detritus from last year’s crops, rake the planting beds into fresh mounds, then plant seeds while dreaming of what they might become. I gaze out the window through the rain, wondering if my attempts last fall to overseed a patchy portion of the lawn will have any lasting effect? Coming up behind me, R. intones, “April showers bring more flowers.”
He’s right, of course. We’ll get the chard in tomorrow.
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