Monday, November 12, 2007

It's Still Fun City Dammit!


With Theaters Dark, Finding Their Fun Elsewhere - This feature focuses on NYC visitors finding alternatives in the face of the theater strike - alternatives like shopping, Madame Tussauds, eating, Starbucks and St. Patricks Cathedral. Visitors - especially visitors with kids - Awake! Your family has seen hundreds of movies and tv shows set in NY, do you really think your 10 year old son would rather see St. Pat's than ride on the Roosevelt Island Tramway that Spiderman saved from Doc Oc? Would your 13 year old daughter choose a Starbucks just like the one at home over a visit to the top of the Empire State Building a la Sleepless in Seattle, and for the six year old crowd- what could possibly beat the toy museum from Big, also known as FAO Schwarz. Your New York City visit does not have to be a dud just because your show was cancelled, but you need to look at the alternatives from the kids' point of view - and by the way, even suggesting the possibility of a family trip to Saks Fifth Avenue is cruel and unusual punishment.

If you don't want simple, unenriched fun - then take a subway downtown, the ride itself is an educational view of the real NYC. Board the Circle Line, sail close by the Statue of Liberty and visit Ellis Island. When you're done, grab a cab to the Tenement Museum on the Lower East Side. The Tenement Museum is an under publicized NYC gem featuring a tenement building in which individual apartments are restored with genuine artifacts from real families who were once tenants, each from a different ethnic group and a different wave of immigration. Ellis Island and the Tenement Museum are a one two punch that will painlessly teach the family a volume of history in a single, enjoyable day. When you're done, stay on the Lower East Side, grab supper in a trendy neighborhood, maybe you can even find an off off Broadway show that's family friendly and not struck................................................................................................................................................
Some Wonder if the Banks’ Stabilization Fund Will Work - The Time's responds to yesterday's criticism by As Good As News with a long feature explaining, among other things, that one purpose of the Big Bank subprime rescue fund is to preserve a liquid market for the collateralized debt obligations that structured investment vehicles may need to unload. The mere existence of a market for the SIV's underlying asset should, in theory, reduce the chance that lenders to the SIV's will pull the plug on essentially solvent entities because of a liquidity crisis. Enough gobbledy-gook. The Big Banks hope to recruit contributions from friends, support the market for the less risky bundles of mortgage loans, thereby forestalling rapid collapse of the special purpose companies that own those bundles. Those same special purpose companies borrow from the Big Banks, so the Big Banks are trying to avoid writing off significant loans by indirectly propping up their borrowers..............................................................................................................
Steeler Nation Arise - Big Ben Roethlisberger refused to lose, making one big play after another to lead the Steelers to victory despite a rocky first half, some great plays by the Browns and some serious Steeler problems on special teams. Ben is emerging as the best of the young QBs, the only one climbing the pedestal on which sit Tom Brady and Peyton Manning. Meanwhile Peyton Manning threw six interceptions and the Colts also suffered from special team problems in a loss to San Diego. So, we commit the cardinal football sin of looking ahead. The Steelers are now number two in the AFC (better intra-conference record than Colts). The Steelers may be the '72 Dolphin's last hope - the only real obstacle standing between the Pats and 16-0. The Steelers will probably need to beat the Pats or face a play-off death march that runs through both Indianapolis and Foxborough.............................................................................................................................
Increased Compensation Puts More College Presidents in the Million-Dollar Club - Ohio State President E. Gordon Gee makes over $1Million /year, for that kind of money he really needs to beat Illinois. The real champ is recently retired Northeastern University President Richard Freeland, who was making $2.9 Million/year. President Freeland boosted Northeastern's credentials and reputation, in part by realizing the co-op program was a diamond necklace, not a millstone around his neck, but if I had known about his compensation package I would have organized the parents to stage a 1970s style tuition protest rally.

1 comment:

mhass30 said...

Northeastern's response put on their web portal:

On behalf of the Board of Trustees, I want to take this opportunity to comment on recent media coverage of Dr. Richard Freeland’s retirement benefits. Members of the University community know how Dr. Freeland’s hard work and passion for excellence drove the improvement of our student profile, the enhancement of the academy and the near miraculous conversion of Northeastern to a residential campus.

Accordingly, the Board negotiated a retirement package with President Freeland that acknowledged the tremendous progress and improvement in the University that occurred under his leadership. In developing this package, we took many elements into account. We were guided throughout the exercise by both established industry standards and the advice of Executive Compensation experts.

Concerned parties should note that the dollar amount reflected in recent media reports is not a lump sum payment. It is actually the present value of a benefit to be paid out in annual increments over the course of Dr. Freeland’s lifetime. The benefit was structured based on normal actuarial assumptions and was reported in the aggregate amount rather than the annual payment because IRS and accounting standards require us to do so.

Dr. Freeland did a great job for Northeastern. The board has recognized that in a retirement package that is consistent with his accomplishments and prudently structured for the good of all concerned.