Benjamin: September 2010

Thursday, September 30, 2010

Accusations rejected as Bishop Long photos emerge

Photos of Bishop Eddie Long have surfaced which were allegedly sent to the men by whom he is being sued. The newest Birth Missionary Baptist Church, which Long is the head pastor of, has over 24,000 members. The Bishop Long scandal at the moment unfolding concerns three young men to which Long was a mentor. Bishop Eddie Long has preached a fervently anti-gay information for years, which makes the charges against him of unacceptable sexual acts with young men that much more odd.

Bishop Long pictures emerged

Not long after the lawsuit was filed against Eddie Long, photos began surfacing of the pastor, according to Columbia Broadcasting System. The photos were allegedly sent by Long to the men who are suing him. Some of the pictures are clearly not official portraits. The pictures show Long posing in very tight fitting clothing. However, the attorney for the plaintiffs within the lawsuit does not believe the photos to be of a sex nature. Eddie Long, senior pastor of the new Birth Missionary Baptist Church, did send the plaintiffs e-mails, though the content remains unknown.

4th man adds to suit

Now, four individuals, according to CNN, are suing Bishop Long. The litigation alleges Long used his position within the church to elicit sex favors. Long was also the men’s benefactor. All four were in a mentoring program run by Long’s church. Long and his attorney have strenuously denied all allegations. Long has a history of being fervently anti-homosexual, to the point of being labeled a bigot by the Southern Poverty Law Center. That makes this lawsuit either really puzzling or cruelly ironic. He called for a national ban on same-sex marriages in the past.

It will hold off until his day in the court

The case is going to go before a judge. The church Bishop Long ministers to, is a 24,000 member mega-church. His sermons on Sunday routinely draw 10,000 members or more.

Wednesday, September 29, 2010

Apple's cellular industry competitors envious of iPhone profits

$Apple dominates cellular market with a fraction of market share$

Apple is turning the mobile industry upside down with the recognition of its iPhone. Apple earns the largest portion of cellular market earnings by a huge margin, even though it has got the smallest market share. Apple’s iPhone is so popular the “Antennagate” issue of last summer had virtually no effect on sales. Analysts are saying Apple’s control of the mobile industry makes it unlikely that Android, which depends on devices that compete on price, could ever pose a threat.

Apple prospers via invention

Apple’s domination of the mobile industry was reported on Sept. 21 by Fortune on CNN.com. Apple stock was given a “buy” rating and a $ 356 per share price target by Canaccord Genuity, a fund market analysis firm. The analyst’s recommendations involved data showing how Apple is turning its innovations into cash. The business sold 17 million iPhones in the first half of 2010–a 3 percent a share of the market. Samsung, Nokia and LG–the world’s three largest handset makers–sold 400 million units combined. Apple collected 39 percent of the mobile industry’s profits during that time. Samsung, Nokia and LG shared 32 percent of industry profits. To put Apple’s performance in context, Canaccord Genuity said the other handset corporations scramble to make a profit and an operating margin of 10 percent is acceptable. With its iPhone, it is believed that Apple enjoys a 50 percent gross profit on top of a 30 percent operating! margin.

Apple does not live by recognition alone

Producing 3 percent of an industry’s products for making almost 40 percent of the industry’s profit was unheard of until Apple came along with the iPhone. Apple has far outgained its rivals with more than slick marketing campaigns, according to Jason Mick at Daily Tech. Mick writes that since the iPhone is so popular, AT and T has given Apple an extremely lucrative contract to grow its subscriber base. Apple gains another profit advantage over Android competitors by using less expensive hardware. Plus, Apple is very aggressive in negotiating with manufacturers for higher volume and lower prices. Apple’s battle plan has resulted in piles of cash to spend on innovation in the iPhone/Android war. However, that could possibly be a moot point. Mick figures that Steve Jobs is not all that concerned with Android. Catering to a loyal core of iPhone enthusiasts has gotten Apple this far.

The iPhone’s energy develops

Apple haters hoped Antennagate would be Apple’s comeuppance. However the media maelstrom amounted to nothing. The media’s flogging of “Death Grip” reception interference failed to choke off sales of the iPhone 4G. When Consumer reports tested the iPhone reception problem and said it could not recommend the iPhone, Apple bashers reacted with glee. It still won’t. But the iPhone marches on. According to Computerworld, the J.D. Power and Associates consumer satisfaction rankings for smartphones lists the iPhone at the top of the list—its fourth consecutive first place finish.

Tuesday, September 28, 2010

Bush tax reductions, the deficit, economic growth and the Obama strategy

Not that they actually will, but the Bush tax reductions are intended to finish along with the current calendar year. For the so-called rich who make more than $200,000 a year, the Bush tax reductions continue, while the so-called middle class gets to keep them under Obama’s scenario. Republicans say raising taxes on the rich will stifle economic recovery. The president has a talking point of his own. As outlined by Obama, shortage reduction and tax reductions for the affluent don’t mix. Some analysts say the Obama tax plan won’t make a difference in reducing the deficit, when tax cuts in general won’t help the economy. It will be awhile before anything concrete happens on the issue. With November elections drawing near, fearful Democrats who want to be re-elected have put off voting on a problem that involves taxes.

Obama’s tax strategy beneath the cover

Republicans are looking out for the rich constituents who pay for their reelection campaigns. However taking away their Bush tax cuts may not be the hardship being advertised. Bob Williams at the Christian Science Monitor took a close check out the information. For example, for making sure that people who make less than $200,000 do not get hit with more taxes, more incomes fall to the 28 percent tax bracket. For a few of the more wealthy working class individuals, this measure could cut their taxes by a number of hundred dollars. Stretching the bracket trickles upward. It creates a little daylight for many who make just a little more than $200,000 to escape higher tax rates. According to a study by the Tax Policy Center, Obama’s proposal to rescind the Bush tax cuts for the rich will increase rates for just ! 1.7 percent of working class individuals. Williams wrote that the reason nearly 95 percent of that 1.7 percent would pay more isn’t really because of ordinary income. They get hit when the tax on capital gains and dividends goes from 15 to 20 percent. If the Democrats call the Republican bluff and the Bush tax reductions go away, the wealthy will end up paying a top rate of 39.6 percent on dividends.

Tax reductions: answer, or issue

To spur the economy into growth, tax cuts are heading in the wrong direction, said Diane Lim Rogers on CNN . Committing to either the Republican or Democratic tax plans, Rogers writes, will result within the government losing revenue for years, keeping Americans from saving and an economy stunted within the long term. Obama has said that rescinding the Bush tax cuts for the wealthy will trim $700 billion from the shortage in a decade. Nevertheless, the cost of stretching the cuts for the rest of the population–$2.2 trillion-more than cancels out any savings. To solve the unemployment issue, Lim Rogers writes that increasing the shortage by financing public projects makes much more sense than simply cutting taxes. What is being overlooked, she said, is that short-term tax cuts will make the deficit problem worse down the road. Lim Rogers is doubtful that the government could be counted on to let the extended tax reductions expire, especially when elected officials ! refuse to do this now.

Brand new Wall Street film is really a splash

The new “Wall Street” film has been drooled over for months. It has been a big topic for months. Fans of the first are waiting within the wings for “Wall Street: Money Never Sleeps”. The very first movie was launched, and partly inspired by, the stock exchange crash in the 1980s. Douglas is back as Gordon Gekko in the sequel, which takes place in the midst of the real estate crash of 2008. Both films address unchecked greed and immoral trading in the realm of investment and high finance after scandal.

’Wall Street’ part Deux

The sequel to the original film takes place within the urgent wake of the housing crash of 2008. The presumption is that Gordon Gekko, the role Michael Douglas plays, went to jail after the first film ended, as the second film opens with his release from prison. It is a legendary role. It won Douglas an Oscar, and legions of fans. Gekko starts giving lectures to students, and then decides to help his daughter’s fiancé, played by Shia LeBeouf, to bring down a corrupt hedge fund manager. It is partly a story of sabotage of the wicked. However, the film, nicknamed but not really titled “Wall Street 2,” is also a story of redemption.

Wall Street within the real world

People that work on Wall Street are aware that it is just a movie. A post within the Wall Street Journal by Martin Fridson opines the movie captured popular outrage, however that it ignores actual causes of the 2008 crash. On the ABC site, a corporate lawyer who works on Wall Street also opined that the film is great entertainment, however little more than that. Hollywood takes license with historical events, which isn’t exactly a secret. Numerous events in history, which were really really complex, were bent for the sake of sensation. Oliver Stone is no stranger to this kind of criticism, and Wall Street heavyweights which were technical advisors lamented his liberal use of license over portraying the complexities of real life.

Barrel spoiled

There is some truth within the cliché that a bad apple ruins a lot. It is kind of a shame. Numerous on Wall Street work incredibly ethically and unbelievably hard. If “Wall Street: Money Never Sleeps” was about those sort of individuals, it wouldn’t sell numerous tickets.