Thursday, October 30, 2008

Willful ignorance opens it's fat mouth and speaks with a horribly grating accent, again.

The current wettest blanket of them all thinks that we shouldn't be wasting valuable resources performing research on fruit flies. Of course, when you don't "believe" in "DNA" or the "theory" "of" "evolution" "by" "natural selection" then you wouldn't really understand what kind of an impact fruit fly research may have on things such as autism or dare I say, Down syndrome.

"That's more than the shortfall to fully fund the IDEA," she said. "And where does a lot of that earmark money end up? It goes to projects having little or nothing to do with the public good -- things like fruit fly research in Paris, France, or a public policy center named for the guy who got the earmark. In our administration, we're going to reform and refocus. We're going to get our federal priorities straight, and fulfill our country's commitment to give every child opportunity and hope in life."




Sunday, October 26, 2008

This is hard not to laugh at...


Faniq writes:
You probably heard a few years ago that T. Boone Pickens, who chairs the hedge fund BP Capital Management, gave Oklahoma State a $165 million donation to be used all for helping the school's athletic program. And the largest portion of it was going to be used to beef up the school's football stadium and football facilities.

Well, there was one problem with Boone's donation. He left the donation in the hedge fund, which initially seemed to be a good idea as oil prices soared in a post Katrina economic climate, swelling the initial gift to over $300 million. That was before things began to turn in 2007, as international demand for oil failed to meet projections, causing the fund to come to a sudden standstill, and then dropping on mistakes made by fund managers, who were managed by Pickens.

Anyway, Pickens resisted pleas by some OSU Regents to bank a good deal of the balance out of the fund when it exceeded $300 million, which was only 14 months ago. Instead Pickens decided on borrowing almost $200 million needed to expand and renovate Boone Pickens Stadium on the Stillwater campus, despite the fact that the donation was dropping in value.

Now, here's the bad news. Yesterday all indications were that OSU Regents had been told last Friday afternoon that a large portion of the Pickens donation in the BP Capital hedge fund was virtually wiped out by margin calls on the funds investments in the third quarter.

Since when did universities turn into investment firms? I wonder if the economics department advised on this decision.