Chicago Daily Observer

A big notice for CDOBs editorial board member Dennis Byrne today, leading off the Wall Street Journal Best of the Web with his piece on Blagojevich, Burris and Bobby Rush from the Chicago Tribune.

Here’s Dennis:

Blagojevich and Rep. Bobby Rush (D-Ill.), who showed up at the announcement press conference, praised Burris’ “fine record of public service,” although my own view is that just getting through a political career here without the usual political taint qualifies as the finest of records. Burris accepted the accolades without seeming to understand the irony.

But Rush aptly demonstrated the cynicism of Blagojevich’s action by brandishing the blunt weapon of racism. Rush, an African American, warned that a senate that refused to seat Burris, an African American, would be engaging in a “hanging” and “lynching.” Even by Chicago political standards, the deployment of those inflammatory words was an extraordinarily ... Read More...

Join the Chicago Daily Observer’s Tom Roeser and John Powers along with Rep. Jack Franks (D-Woodstock) as they discuss the Blagojevich Impeachment and Illinois Politics tonight at 8PM on WLS-AM 890.

Calls taken at 312–591-8900. Join the discussion and listen here at the below link:

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From 2004 Press Conference.

HT John Patterson, Daily Herald Read More...

The Sun-Times Sneed hears that Rahm Emanuel is on tape with Rod Blagojevich on 21 separate occasions.

The Feds have Rod Blagojevich on tape ( page 63 in between a remarkable string of obscenities) saying that he is expected by Obama to “suck it up” for two years and do nothing in exchange for promoting Obama’s choices for Senate but Blagojevich is advised to be leery of promises of things to happen two years from now.

President Elect Obama assures us that his aides “did nothing inappropriate”, but delayed offering any details, prompting the LA Times to mock Move along, folks, nothing to see here: Obama on Blagojevich.

President Elect Obama doesn’t like questions that might lead one to beleive that Rahm Emanuel the person talking to Blagojevich about trading the Senate seat for some future payoff, but that’s OK with the Washington Post, who call ... Read More...

Tonight, Institute CEO John Tillman will join acclaimed radio host Milt Rosenberg on WGN 720 AM from 9–11 pm—be sure to listen in! Meanwhile, the Institute made a splash this week with our commentary in the aftermath of Blagojevich’s arrest.

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From US DOJ Press Release

In a further conversation on November 21, Harris told Blagojevich that he had singled out to Tribune Financial Advisor the Tribune’s deputy editorial page editor, John McCormick, as somebody who was the most biased and unfair. After hearing that Tribune Financial Advisor had assured Harris that the Tribune would be making changes affecting the editorial board, Blagojevich allegedly had a series of conversations with Chicago Cubs representatives regarding efforts to provide state financing for Wrigley Field. On November 30, Blagojevich spoke with the president of a Chicago-area sports consulting firm, who indicated that he was working with the Cubs on matters involving Wrigley Field. Blagojevich and Sports Consultant discussed the importance of getting the IFA transaction approved at the agencys December or January meeting because Blagojevich was contemplating leaving office in early January and his IFA appointees would still be in place ... Read More...

Here is a roundup of news about Republic Windows & Doors, the bankrupt company with a closed manufacturing plant on Goose Island. Laid off workers are occupying the shuttered factory, in an attempt to receive their last paycheck. President-elect Obama thinks the laid off workers should get paid, but does not give a reason why paychecks would bypass normal bankruptcy procedures.

Attorney General Madigan is investigating the sudden shutdown of the company, which must happen every day, with normal bankruptcy procedures, though not meriting a vague press release from the prospective candidate for Governor.

Dick Durbin recommended that banks foolishly loan money to failed companies, "We have been sending billions of dollars to banks like Bank of America and the reason we have sent them the money is to tell them that they had to loan this money out to companies like Republic", setting the stage for ... Read More...

The Illinois Policy Institute has generously opened up 5 more spaces for Chicago Daily Observer Readers for the Reception with (Chicagoan and University of Illinois graduate) Stephen Moore. What better chance break out your crested blazer and come over to the Union League Club for some holiday cheer and economic analysis with Steve Moore, an editorial board member at the Wall Street Journal and former president of the Club for Growth.

Please contact the Illinois Policy Institute for reservations

Where: The Union League Club, 65 W. Jackson Blvd., Chicago

When: Thursday, December 11th, 2008, 5:00–6:00 PM Cost: No cost. RSVP: Richard Lorenc at (312) 346-5700 ext. 205 or email here. Please respond by December 10th. Read More...

From Reuters

President-elect Barack Obama is not planning to implement a windfall profit tax on oil companies because prices have dropped below $80 a barrel, an aide said on Tuesday.

“President-elect Obama announced the policy during the campaign because oil prices were above $80 per barrel,” an aide on Obama’s transition team said. “They are currently below that now and expected to stay below that.”

More on Windfall Taxes from CDOB‘s

Bail Out Big Oil So We Can Tax it More



Bad News! Gasoline Prices are Dropping



Stocks Slumping? How about a New Tax Courtesy Candidate Obama?

Perhaps Candidate Obama could have thought of some of these things before the election.

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Download document here.

The Chicago Daily Observer takes to the airwaves again tonight on Tom Roeser’s Political Shootout. Frequent contributor and political analyst, Jeff Berkowitz and CDOBs President John Powers join CDOBs Chairman Tom Roeser at 8PM on AM 890 WLS.

The call in number is 1–312-591–8900

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With yesterday’s 400 point drop, the Dow has dropeed more than 21% since Barack Obama was elected president.

Until the election of Obama, a drop of 20% colloquially defined a Bear Market, though it looks as though the media may need to redefine the term to promote hope and change, as a news search on Obama and Bear Market brings up the Chicago Daily Observer, and no other stories post-election.

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With another 427 point drop today, the Dow Jones Industrial Average has dropped 16.66% since Barack Obama was elected to become President of the United States.

Welcome to reality, President-Elect Obama. Any chance of putting your tax increases and tariffs on hold indefinitely?

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Greg Hinz, the generally astute columnist for Crain’s Chicago Business, loses all rationality after Barack Obama (who lives in Chicago!), is elected President. Obama’s deep understanding of the City could mean:

Mr. Obama will be more generous with public transportation and Amtrak, which routinely lost their shirts to suburban road builders in post-Kennedy funding wars.

Mr. Obama's Web site outlines a series of other actions aimed not just at helping the poor — that's what "urban" often means to federal policymakers — but at "supporting urban prosperity." Included are more capital for startups, a mortgage-interest tax credit for those who don't itemize, expanded early education and more leeway for police to trace guns used in crimes.

That should do it. With just a few tweaks, that Obama has completely ignored in his political lifetime, Chicago will no longer be the murder and corruption capital of ... Read More...

In a rather odd segment on CBS 2, CBS Political Reporter Mike Flannery tried to explain away any media bias towards Sen. Barack Obama.

Citing Mayor Daley’s and big business support for Sen. Obama and a heartfelt wish that “the Barack Obama we think we know is the same guy we’re getting in the White House” Flannery brushes off any criticism with a “so what”.

Video Links Below

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Say you met your objectives on the battlefield, things went more or less to plan, and you are able to move troops to more strategic area or send troops back home. It might be a time for the press to give a round of applause for a job well done, unless of course that isn’t the story line the Left wants released. The AP Warns

The U.S. military in Iraq is abandoning — deliberately and with little public notice — a centerpiece of the widely acclaimed strategy it adopted nearly two years ago to turn the tide against the insurgency. It is moving American troops farther from the people they are trying to protect.

Only later (and well out of the headlines) to note that the troops are moving out because “the milestones in a political military plan” have largely been met. Yes, meeting objectives ... Read More...

With another 411 point drop today, the Dow Jones Industrial Average has dropped 14% since Barack Obama was elected to become President of the United States.

Welcome to reality, President-Elect Obama. Any chance of putting your tax increases and tariffs on hold indefinitely?

Could it be possible that hiring a group of lawyers and protectionists for economic advice is not such a good idea?

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The Dow Jones showed President Elect Obama its opinion of his victory in yesterday’s Tuesday’s election by dropping 443 points or 5%. That makes a 10% drop in two days.

Welcome to reality, Day 2, President-Elect Obama. Any chance of putting your tax increases and tariffs on hold indefinitely?

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The Dow Jones showed President Elect Obama its opinion of his victory in yesterday’s election by dropping 486 points or 5%.

Welcome to reality, President-Elect Obama. Any chance of putting your tax increases and tariffs on hold indefinitely?

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Sen Barack Obama, eulogizing his grandmother:

“I want everybody to know, though, a little bit about her. Her name was Madelyn Dunham. She was born in Kansas in a small town in 1922. Which means that she lived through the Great Depression, she lived through two World Wars”

World War 1 ended November 11, 1918, 4 years before Madelyn Dunham was born.

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