March 3, 2014

Buffett regrets $2B bet on Texas utility

HOUSTON – Warren Buffett says Energy Future Holdings will almost certainly file for bankruptcy this year unless natural gas prices surge.

The billionaire investor is only the latest to predict that the Dallas company — which owns billions in Texas electric utility assets — is headed for bankruptcy, weighed down by more than $41 billion in debt.

It would make for one of the largest debt-laden bankruptcies of a non-financial company since the 1980s if its bank account ran dry this year, Moody’s Investors Service had said in September. Buffett did not wait to find out.

His investment firm Berkshire Hathaway ate $873 million in pre-tax losses last year when it sold its stake in the company, originally a $2 billion chunk of debt in 2007 in one of the largest leveraged buyouts in history.

More at http://fuelfix.com/beaumont/2014/03/03/buffett-regrets-2b-bet-on-texas-utility/ .

March 3, 2014

Jonathan Stickland's Sticky Fingers: Tea Party State Rep Accused of Double Dipping

According to Representative Jonathan Stickland's primary challenger, Andy Cargile, Stickland may have double dipped into both his legislative and campaign accounts for gas expenses on several trips into his district. What's more, Stickland may have charged the state for a trip into the district that never even took place, Dallas News reports.

The conservative Stickland, named Rookie of the Year by the Young Conservatives of Texas - of affirmative action bake sale and "Catch an Illegal Immigrant" fame - has not had an easy time with Cargile's campaign. Last month, Stickland got into trouble for posting the home address of a Cargile supporter on his twitter and Facebook page. In response to this newest information, a consultant for Stickland's campaign said, "Andy Cargile's campaign can't read a credit card statement."

The Dallas News found multiple instances where gas charges to Stickland's campaign overlap with charges to the legislature for travel to the district. On three separate occasions, Stickland filed travel expenses of $198.70 for a round trip to his district in Bedford, and then charged his campaign account for gas expenses from the same, often short, time frame.

-snip-

In another, possibly more damning instance, Stickland claimed travel expenses from the House for district business from June 17th-19th. His finance reports show charges for dinner at Trudy's in Austin on June 18th, when he was supposed to be in his district. He also conducted an interview on the 18th where he was identified as being in Austin. A Cargile strategist said, "It reeks of hypocrisy for a candidate to talk about protecting taxpayers and then turn around and bill them for a trip that he did not take."

More at http://www.burntorangereport.com/diary/14906/jonathan-sticklands-sticky-fingers-tea-party-state-rep-accused-of-double-dipping .

March 3, 2014

How come when I watch Glen Hegar's ads I think of Dr. Michael Brown?

Hegar has no qualms about putting his children on his television ads to promote his campaigns, just like Dr. Michael Brown had no qualms about using his family to promote his business practice.

A parent using a child to promote their own well-being is exploitative and sickening.

March 3, 2014

Greg Abbott's Latina Wife Distraction Versus A Game of Twenty Questions

By Carol Morgan

Greg Abbott’s campaign for Texas Governor is looking more and more like a Charlie McCarthy routine, with campaign advisor Dave Carney pulling the strings while Greg Abbott whips out the snappy one-liners. His latest pithy and controversial meme: Latina wife.

It was a political stroke of luck that couldn’t have been more perfect. Well...at least, for those who bought into it.

The Latina wife issue was cleverly played out in the second most conservative city in America, twisting a Lubbock City Councilman’s words into a false attack on Greg Abbott’s wife. Obviously, someone didn’t read Mr. Hernandez’ entire statement, because he referred to the venue, Jimenez Bakery, as the “prop”, not the wife.

Conservative blogger Bryan Preston referred to a “source” who reported the falsehood, the story was then tweeted by Abbott, the back-and-forth has escalated with Lubbock mayor’s issuing an unnecessary public apology.

The Latina wife kerfuffle is a cleverly choreographed performance with an eye on campaign strategy rather than campaign substance. It’s a non-issue side road that’s completely run amok. The fine art of political distraction is merely a media manipulation, pulling voters’ attention away from the real issues that Greg Abbott’s campaign doesn’t want you to think about.

More at http://lubbockonline.com/interact/blog-post/carol-morgan/2014-03-03/greg-abbotts-latina-wife-distraction-versus-game-twenty .

Related thread: http://www.democraticunderground.com/107815874

March 3, 2014

Foul play? Abbott's wife now in political fray after Lubbock Councilman Hernandez 'prop' comment

Another front has opened up in the cultural war that the 2014 Texas governor's race is fast becoming.

This time it involves the fight for the growing Hispanic vote and Attorney General Greg Abbott's contention that Democrats are cynically using his Hispanic wife, Cecilia, against him.

The whole thing started in heavily Republican Lubbock, of all places.

That's where Abbott was campaigning earlier in the week, staging what appeared to be a routine campaign stop to drive up his vote before the March 4 primary election he is all but guaranteed to win big.

More at http://lubbockonline.com/filed-online/2014-03-02/abbotts-wife-not-political-fray-after-councilman-hernandez-prop-comment .

[font color=green]But was it all made up?[/font]

Hernandez denies referring to Cecilia Abbott as 'prop,' Robertson apologizes for councilman

Despite recent reports of City Councilman Victor Hernandez dismissing the wife of gubernatorial hopeful Greg Abbott as a “prop,” Hernandez said his grievances lie with the Republican candidate, not his wife.

“The truth is this is about Greg Abbott,” Hernandez said. “He is the candidate, so let’s place focus where the focus should be.”

Hernandez’s statement prompted Lubbock Mayor Glen Robertson to write a letter to Abbott, apologizing on Hernandez's behalf, according to a post Robertson posted Sunday evening, March 2, on his Facebook account.

Accusations that Hernandez “callously dismissed (Cecilia Abbott) as a prop” were made against Hernandez by an anonymous source in a conservative blog written by former Republican Party spokesman Bryan Preston.

More at http://lubbockonline.com/filed-online/2014-03-02/hernandez-denies-referring-cecilia-abbott-prop-robertson-apologizes .

[font color=green]If an apology is deserved (which does seem in doubt), then let the councilman make it.[/font]

March 3, 2014

What did George W. Bush see?

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March 3, 2014

Cowboys should trade Romo, draft Manziel

With the always overblown Scouting Combine now done with, and even with the NFL Draft still two months away, it’s never too early to scheme and scam on behalf of our troubled local football club.

Who knows? Mr. Jerry might be actually reading this stuff. My ideas, and yours, are as good as his track record when it comes to evaluating talent.

So here’s a grand plan:

Trade Tony Romo to the Houston Texans for the first pick in the draft.

Use that pick to draft, yes, Johnny Football.

More at http://www.star-telegram.com/2014/03/01/5612933/johnny-football-was-born-to-play.html#storylink=omni_popular?rh=1 .

March 3, 2014

Grid operator asks for conservation as cold grips state

Texas’ main grid operator is asking consumers to conserve electricity Monday morning as another cold wave moves through the state.

Earlier this year the grid got close to the intermittent, regional outages called rolling blackouts as power plants shut down unexpectedly at the same time demand for heating rose.

“The cold weather and accompanying wind that has spread across the region today is expected to result in high electric demand for tomorrow’s peak,” said Dan Woodfin, director of system operations for the Electric Reliability Council of Texas.

Suggested conservation measures include keeping thermostats set as low as comfortable — the grid operator suggests 68 degrees or lower; unplugging unused electric devises; and avoiding use of large appliances such as washing machines during the alert period.

More at http://fuelfix.com/blog/2014/03/02/grid-operator-issues-conservation-alert-as-cold-grips-state/?cmpid=hpbn .

March 3, 2014

19 arrested as Galveston police use pepper spray to disperse Mardi Gras crowd

Police tossed pepper spray canisters into a Mardi Gras crowd early Sunday that refused to clear Galveston streets at closing time, according to the Galveston Police Department.

"Officers used practiced and authorized techniques to disperse the crowd and clear the barricaded street," Galveston Police Henry Chief Porretto said in the press release. "We will continue to evaluate and train our personnel to handle such incidents."

About 12:40 a.m., Galveston and University of Texas-Medical Branch police officers lined up at 20th Street and began the march west down the Strand, guiding revelers to the exits, the release said. About 13 minutes later, police found a large crowd at 22nd Street had moved fencing installed to separate crowds from a parade earlier in the day.

When officers approached to remove the barrier, some members of the crowd began throwing bottles, the release said.

More at http://www.chron.com/news/houston-texas/houston/article/19-arrested-as-Galveston-police-use-pepper-spray-5282324.php?cmpid=hpts .

March 2, 2014

Navy: Fighter jet crashes in western Nevada

Source: AP

FALLON, Nev. (AP) — The Navy says a fighter jet has crashed during a training exercise in western Nevada, and the pilot's condition was not immediately known.

The single-seat F/A-18C Hornet crashed about 3 p.m. Saturday on a Navy range training complex about 70 miles east of Naval Air Station Fallon.

The pilot's condition was not immediately known.

Lt. Reagan Lauritzen of Naval Air Force, U.S. Pacific Fleet said helicopters and ground crews were having difficulty reaching the crash site because of the mountainous terrain and remote location.

Read more: http://www.chron.com/news/us/article/Navy-Fighter-jet-crashes-in-western-Nevada-5281608.php?cmpid=hpbn