Jul 01, 2009
kosmo - See all 763 of my articles
The big news story of last week was the death of pop icon Michael Jackson at age 50. News accounts have indicated that Jackson left behind $400 million. Jackson’s estate does, of course, contain some valuable assets. Most notable is his music portfolio, which includes his own music, as well as a portion of royalties from The Beatles. The day after his death, 9 of the 10 most downloaded iTunes albums were Jackon’s. This also underscores the ability of digital content providers to be able to seamlessly adjust to spikes in demand. If stores like Wal-Mart, Best Buy, and Sam Goody sold out of Jackson CDs, they would not be able to satisfy the demand until they were able to restock. Since the demand will likely dissipate as time passes, they will likely lose some of the impulse sales. Digital providers such as iTunes are immune from this. iTunes can’t “sell out” of a CD. They just throw more hardware into the iTunes Music Store to handle the spike in volume.
Ponzi schemer Bernie Madoff was sentence to 150 years in prison. If Madoff serves the entire sentence, he would be 221 years old when he is released. Essentially, the judge gave Madoff a life sentence. Madoff will likely spend his remaining years in a medium security prison (a prison with bars on the windows and a fence) rather than a country club of a minimum security prison, due to the length of the sentence and the corresponding flight risk. The judge also ruled that Madoff must also forfeit $171 billion. It seems impossible that such a large amount will be recovered.
Minnesota finally has a winner in their Senate race. The state supreme court unanimously declared Al Franken to be the winner, and challenger Norm Coleman has given up his fight. The win by Franken mkaes it easier for the Democrats to invoke cloture (a procedure to end a filibuster and force a vote on an issue; 60 votes are required for cloture). I have a question, though – does Franken get paid the salary of a Senator for the last 8 months? Or does the money that was allocated to his salary go somewhere else (Chrysler, perhaps?). I wrote a humorous article about the Minnesota Senate situation a couple of months ago.
Another Airbus jet suffered a deadly ocean crash. This time, a Yemeni jet plunged into the Indian Ocean with 153 people on board. At the time this story was written, one child had been found alive, and authorities were hoping that other survivors would be found. The Airbus jet involved is this crash is a different model that the Brazilian jet that crashed on June 1, leaving no survivors.
South Carolina governor Mark Sanford admitted having an affair with a woman in Argentina. This came to light after Sanford recently was unreachable by his staff. As it turned out, he was in Argentina at the time. Many politicians include Lieutenant Governor Andre Bauer, have called for Sanford to step down. If Sanford does step down, Bauer would stand to gain the most. He would become governor, and this would greatly aid his 2010 run for the office, as he would be elevated to incumbent without being voted into the office.
Manny Ramirez will rejoin the Los Angeles Dodgers on Friday, after a 50 game drug related suspension. Ramirez has played 5 games in the minor leagues in an effort to get back into playing shape. I disagree with this aspect of the suspension. Some would argue that preventing a player from playing in the minors during the suspension would essentially turn a 50 games suspension into a 55-60 game suspension. My opinion is that if the player can’t hitting the ground running on day 1 after the suspension, that’s his problem, not mine. He should not be allowed to play any games during the suspension, whether it be in the minors or majors.Share this article via email Kosmo is the founder of The Soap Boxers and writes on a variety of topics. Many of his short stories have been collected into Kindle books. Like this site? Subscribe via RSS, Subscribe via Email, or Follow us on Twitter or Facebook. The permanent URL for this article is: