SoulCycle: be careful out there

 

soul-cycle-studio-class-1

SoulCycle, the high-hype indoor cycling fitness chain, filed with the SEC on July 30, 2015 to raise up to $100 million in an initial public offering.

More than 13 months later, the market is still waiting.

Privately held luxury-gym chain Equinox Holdings Inc. wants to spin off SoulCycle, but apparently, it’s not easy.

In March 2016, Harvey Spevak, Equinox’s CEO, told Bloomberg TV Canada’s Pamela Ritchie the company was delaying the IPO until the right time.

“We’ve all seen what’s happened with the U.S. stock market,” he said. “If you look at the history over the last 12 months, the data says there are only two IPOs that are now trading above their offering price. So, we’re kind of in a watch mode right now.”

Asked whether the IPO would occur before the end of this year, Spevak was non-committal. No one knows where the global economy, the U.S. economy and the capital markets are going, he said, so it was just a matter of watching.

SoulCycle began as a small cycling studio in New York City in 2006. The wealthy investors behind the company hope to reap a windfall when the company goes public, and there’s a lot of positive talk on the street.

But investors who are still salivating over the IPO, despite the delay, should be cautious.

First, there’s as much chance investors will lose money as make it with many IPOs.

The stock price of the vintage and craft online marketplace, Etsy Inc., for example, had an offering price of $16 a share when it went public in April 2015. It surged 87.5 percent on its first day of trading, but then began to collapse. It ended 2015 as the worst performing IPO of the year and closed on Sept. 19 at $13.36 a share.

As SoulCycle’s Prospectus notes, risk factors include the company’s ability to maintain the reputation and value of its brand, to attract and retain riders and to gain acceptance outside its Eastern geographic base.

There’s also competition and SoulCycle will have to deal in a timely way with inevitable changing trends. It could, frankly, be just another fitness fad.

There’s been a lot of talk about the dearth of IPOs so far in 2016. Deals peaked in 2014, retreated in 2015 and are almost non-existent so far this year, according to Denis Smirnov of Gordian Advisors.

In this climate, SoulCycle is still watching and waiting. Potential investors in the company should, too.

 

 

Playing fast and loose: Multnomah County and the Wapato Jail

wapatojail

The still empty Wapato Jail

Has Multnomah County been flouting the law in its management of the Wapato jail?

In 1996, Multnomah County voters approved a $79.7 million public-safety bond measure to deal with inmate crowding and predictions of rising crime.

Of the total, $43.9 million went toward construction of the $58.4 million Wapato Jail in North Portland. The 168,420 sq. ft. jail was completed in 2004…and has sat empty ever since.

Now some folks, including Multnomah County Commissioner Loretta Smith, want to turn the jail into a giant homeless shelter. But other county officials are adamant the jail is unsuitable for such a use.

A major reason is because county officials have chosen to do what was convenient, rather than what was right.

When property at the County Sheriff’s office or other county jails broke or got too old or just needed replacing, rather than buying something new, the county ransacked Wapato.

“What people think is out there is a fully functioning building with kitchens and everything. It has none of that. It’s been stripped bare,” County spokesman Dave Austin told KGW-TV. “What we did was, if the sheriff’s office in their other three jails had a need for something — you know a big stove, an oven, a dishwasher — if those broke, we didn’t spend taxpayer dollars and buy new stuff. We went and took the stuff from Wapato.”

It would cost taxpayers at least $5 million to $7 million to replace all the stuff that was spirited away and get Wapato ready for occupancy, Austin told KOIN 6 News.

That’s right. County employees have ripped off $5-$7 million of Wapato property for other uses.

The problem is the 1996 bond measure for Wapato didn’t say that after the county built the jail, it could loot it.

The Dec. 17, 1996 Official Statement, the offering document delivered to prospective investors for the $79.7 million of bonds that were sold in the public market, specified that the bond proceeds would be used for the following:

  • Increase jail beds to end unsupervised early release of prisoners
  • Secure treatment facilities for mandatory drug and alcohol treatment of offenders
  • Computer systems and high-tech equipment for tighter tracking of criminals
  • Restructured booking facilities to eliminate delays for police
  • Expansion of the juvenile justice complex
  • Child Abuse Center

 In 2003, the State authorized the County to shift from building the bed alcohol and drug / work release / mental health beds to building 300 jail beds, instead, raising the total number of Wapato jail beds to 525 and committing $58.4 million to the project.

Wapato Jail was finally completed in July 2004.

But one thing didn’t change with all the machinations. There was still no provision allowing for the Wapato jail to be raided of contents worth millions so they could be shifted to other facilities.

A California case supports the view that such slippery shenanigans are prohibited.

In 2008, voters in the San Diego, CA Unified School District authorized $2.1 billion in general obligation bonds for school projects listed in a 96-page pamphlet. Later that year, voters challenged the District’s use of general obligation bond proceeds for the acquisition and installation of field lighting for the football stadium at a local high school.

In 2013, the California Court of Appeal determined in Taxpayers for Accountable School Bond Spending v. San Diego Unified School Dist. that the school district’s failure to make explicit reference to the installation of stadium lighting within the site-specific section of a bond project list rendered that expenditure unlawful.

Maybe some folks involved in pillaging the Wapato Jail should be in it.

 

Should the two major parties make the rules? It’s debatable.

thirdpartychoiceAnother reason why so many Americans are frustrated, despondent, and bitter this election year.

Both parties have lost ground among the public. Independents now outnumber either Democrats or Republicans, with 40% of Americans choosing that label, according to the Pew Research Center.

But the private, Democrat and Republican-created and -controlled Commission on Presidential Debates announced on Friday, Sept. 16, that only Donald Trump and Hillary Clinton will be allowed on the stage for the first presidential debate.

This when:

  • In a recent Quinnipiac University poll that asked likely voters, “Do you think that Gary Johnson, the Libertarian candidate for president, should be included in the presidential debates this year, or not?”, 62% answered “yes.”
  • Johnson is going to be on the ballot in all 50 states and the District of Columbia
  • A new Washington Post/Survey Monkey poll shows Johnson is in double digits in 42 states. In 15, he’s at 15 percent or higher, including 25 percent in New Mexico, 23 percent in Utah and 19 percent in Alaska, Idaho, and South Dakota.

So here we have a Commission that’s a creature of the two major parties setting the ground rules for who gets to be on the debate stage, securing free airtime for its choices on C-SPAN, ABC, CBS, FOX and NBC, as well as all cable news channels including CNN, Fox News, MSNBC and others.

Not exactly a reason to celebrate our political system, is it?

Libertarian Gary Johnson: an emerging threat to the status quo?

thirdparty

He must be getting under their skin

The major media have all but ignored Libertarian presidential candidate, Gary Johnson, until now.

On Thursday (9/8), Johnson flubbed a question from an MSNBC commentator about Aleppo, the besieged city in Syria. After months of repeated exaggerations, lies, and bluster from Clinton and Trump, the media went ballistic over Johnson’s blunder.

All of a sudden, the reliably liberal New York Times, which has done little more to date than report on Johnson’s poll numbers, questioned his fitness for the presidency.

“Gary Johnson, the former New Mexico governor and Libertarian Party presidential nominee, revealed a surprising lack of foreign policy knowledge on Thursday that could rock his insurgent candidacy when he could not answer a basic question about the crisis in Aleppo,” the Times said. “The stumble could be a serious blow to Mr. Johnson’s campaign…”

The Times followed up with, “…Mr. Johnson’s presidential chances appear shaky…And on Thursday, Mr. Johnson’s credibility suffered a blow when he fumbled over a question about the crisis in Syria…”

Media of all stripes have piled on with wall-to-wall coverage, most of it suggesting Johnson proved he was unfit for office, some saying it showed he should withdraw from the race.

“Libertarian presidential candidate Gary Johnson may have just disqualified himself as a common-sense alternative to Donald Trump or Hillary Clinton,” said the Atlanta Journal Constitution.

Reflecting the concern among progressives pols and pundits, on Saturday (9/10), NYT Op-Ed writer Timothy Egan said Johnson doesn’t deserve the votes of people disenchanted with Clinton and Trump.

“A voter of conscience, in a normal year, could go for Johnson and feel O.K. about it,” Egan wrote. “But this year, in a tight election, any vote by an independent or a Democrat for Johnson could burden that citizen with a lifetime of guilt for handing the world over to Trump. His presidency could “lead to the end of civilization,” as his own ghostwriter, Tony Schwartz has said.”

If you want to know why the liberal gang is now after Johnson, just look at the polls.

Johnson is going to be on the ballot in all 50 states and a new Washington Post/Survey Monkey poll shows he’s already in double digits in 42 of them. In 15 of them, he’s at 15 percent or higher, including 25 percent in New Mexico, 23 percent in Utah and 19 percent in Alaska, Idaho, and South Dakota.

Then you have today’s revelation that Johnson is the top choice of respondents in the most recent polling of the military community.  The poll was conducted between Sept. 7 and Sept. 10 via SurveyMonkey.

Johnson was preferred by 37 percent of respondents, which include active-duty, retired and former members of the military, as well as their family members.  Trump came in second, at 30 percent, and Clinton third at 24 percent.

Who would have thought that Hillary Clinton, who expected her march to the White House to be a cakewalk after Donald Trump secured the Republican nomination, would be forced to add Gary Johnson to the equation?

Nothing like a real challenge to their power to get the powers that be all charged up.

 

Separate but equal: a discredited idea re-emerges at Reed College

reedcollege

“We envision a vibrant, safe, and inclusive living environment…,” says Portland’s Reed College.

So much for that.

Like many other colleges and universities in the United States moving away from true diversity, Reed has approved an exclusive residential living space, Students of Color (SOC) Community, in the school’s Canyon House.

According to Reed, The SOCis an intentional living community for returning students of color to heal together from systemic white supremacy, recover the parts of ourselves and our cultures that have been stolen through colonization, and dream new visions as we build vibrant, loving community together.”

With schools blasting out their commitment to diversity, why are so many heading down the path of separateness? Why such sophistry by week-kneed administrators in their efforts to justify “separate but equal” facilities?

Controversy has already erupted over other “themed” residential housing programs, with schools establishing separate living quarters for groups such as Native Americans, LGBTQ, non gender-binary, Asian/Pacific American,  and so on.

Two members of the United States Commission on Civil Rights —Gail Heriot and Peter Kirsanow, recently sent letters to the University of Connecticut and the Department of Education’s Office for Civil Rights, lambasting UConn’s establishment of ScHOLA2RS House, a “Learning Community designed to support the scholastic efforts of students who identify as African-American/Black through academic and social support, access to research opportunities, and professional development.”

“We are deeply concerned that ScHOLA2RS House was established for the purpose, and will have the effect, of racial separation of African-American male students from others living in University of Connecticut dormitories,” Heriot and Kirsanow wrote. “… It is hard to avoid the conclusion that ScHOLA2RS House was intended to promote racial isolation on campus.  Moreover, it is impossible to avoid the conclusion that it will in fact promote racial isolation on campus.”

“…we cannot understand how race-separate “learning communities” help achieve its ideals of “meaningful diversity” or prepare students to work in a racially diverse marketplace. Rather, by limiting students’ exposure to persons of other racial and ethnic backgrounds, they are more likely to do the opposite,” their letter to UConn said.

Cal State Los Angeles is embroiled in the same issue.

In November 2015, Cal State Los Angeles’ Black Student Union sent a list of demands to William A. Covino , the school’s (president). One of the demands was for “…the creation and financial support of a CSLA housing space delegated for Black students and a full time Resident Director who can cater to the needs of Black students. “

 

In response, this year the school debuted the Halisi Scholars Black Living-Learning Community.

The Black Student Union posted on its Instagram account,…we have finally launched our Black student housing that we demanded from President Covino back in November. The Halisi Scholars Black Living Learning Community is intended for the students on our campus that identify as Black/African American. “

Cal State LA says it is not sponsoring a segregated housing community because “This community is open to all students”, but students who identify as African-American are prioritized in selection.

 After Americans have struggled for decades to bring us all together, universities across the country are acquiescing in, even heartily endorsing, racial and ethnic separateness.

When the University of Oregon recruited Bobbie Robinson and Charles Williams as its first black athletes in 1926, they weren’t allowed to live in university dormitories. All students of color were required to rent housing off campus.

It was a long struggle, but universities across the country eventually opened their dormitories to residents of all colors and cultures. How ironic that many universities have now turned back the clock by establishing separate housing by race, ethnicity, sexual orientation and more.

It’s all being done under the guise of building cultural bonds, uniting people with shared values and strengthening identities.

At Brown University in Rhode Island there’s Hispanic House and Harambee House, which is “…focused on perpetuating a sense of community, academic excellence, and leadership for all people of African descent.”

Harambee is Swahili for ” pulling or working together.” But self-segregation isn’t pulling people together; it’s pushing them apart, capitulating to pressure and reinforcing separatism.

Some academics, perhaps eager for student approval, argue that faculty support for self-segregation is a good thing because it stimulates bonding. “We teachers have an opportunity to stand in solidarity with our students who call for programmed houses on the basis of politicized racial identities,” wrote Amie A. Macdonald, a professor at John Jay College of Criminal Justice/CUNY.

“…anyone concerned with the long-range goal of securing broad-based freedom and autonomy should be committed to the continued existence of racially defined communities on the grounds that different racial identities provide people with different experiences of the world,” Macdonald said. “The preservation of racially defined communities of meaning secures the continued diversity of interpretations of the social world, thereby providing a richer array of know/edges from which to construct social, political, aesthetic, spiritual, and scientific accounts of our experience.”

Except for the fact this is very professorial, it sounds suspiciously like something Alabama Governor George C. Wallace would have said in less flowery language to affirm “segregation today . . . segregation tomorrow . . . segregation forever.”

 

 

 

 

 

 

 

City Club of Portland: wrong on Measure 97

tax-increaseAppalling! What else can you say?

Members of the City Club of Portland voted Tuesday to support Measure 97, which proposes imposing burdensome gross receipts taxes on Oregon businesses that could total $6.1 billion in the 2017-19 biennium.

It’s hard to believe that such a distinguished civic group could support such a flawed scheme.

Oregon’s General Fund expenses are expected to grow by about 14 percent, or $2.7 billion, in the 2017-2019 biennium. The budget anticipates only about half that will be covered by new revenue, translating to a projected $1.35 billion shortfall.

Given such things as public employee pay increases, higher Medicaid expenses, and pension rate increases for state government and school district employees covered by PERS, some additional revenue may be justified. But not $6.1 billion. That’s highway robbery.

And collecting the additional revenue through an odious gross receipts tax, which ignores a business’s profitability, or lack thereof, is irresponsible. How well-educated City Club members, many of whom presumably work in the private sector, could endorse such a tax is inexplicable.

Also damning is the uneven applicability of Measure 97’s proposed taxes. Taxation of just C Corporations would create a vastly uneven playing field for Oregon businesses.

As the minority noted in the City Club’s committee report, “Many large businesses are LLCs and S corps, and they often compete with C corps in similar sectors. For example, Fred Meyer (Kroger) and Safeway grocery store chains are C corps and would pay the tax. New Seasons Market, a B corporation,47 and Albertson’s, a limited liability corporation (LLC),48 would not pay it. “

The flaws in the City Club’s arguments in favor of Measure 97 are evident right off the bat.

The City Club committee charged with determining the merit of Measure 97 said it “…presents a long-awaited opportunity to assure adequate investment in the health, education and the well-being of Oregonians.”

Nonsense!

The fact is there is absolutely no guarantee the legislature will apply Measure 97 revenue to early childhood through grade 12 public education, healthcare and services for senior citizens, in the coming years as the measure states.

If Measure 97 is approved by voters, the Legislature can appropriate its revenues “in any way it chooses,” Legislative Counsel Dexter Johnson said in an Aug. 1 letter to Rep. John Davis, R-Wilsonville, a member of the House Committee on Revenue. Not only are Legislators “not bound by the spending requirements” of Measure 97, they can “simply ignore” them,” Johnson added.

What is most likely is that over time Measure 97 revenue would be spread around like honey in response to pressure from self-serving special interests with access to, and influence on, decision-makers.

Rep. Mitch Greenlick (D-Portland) said when endorsing the measure, “If that passes, we’ll have a lot of money to pay for stuff.” The hundreds of groups that spend millions annually lobbying the legislature will have plenty of ideas on what “stuff” to spend the money on.

There’s also a high likelihood that some of those lobbyists will seek exemptions from all or part of the tax, just as Nike cut a deal with former Gov. John Kitzhaber and the legislature in 2012 to protect it from changes in the way the state calculates the company’s state income taxes.

Gov. Brown has already said she’d favor some “technical adjustments” if Measure 97 passes, including:

  • Allowing businesses to subtract a portion of their Oregon payroll from their corporate tax bill.
  • Prohibiting businesses from changing their corporate status “for the primary purpose” of evading the new gross receipts tax. (As written, the measure would exempt “benefit corporations” from the new tax)
  • Helping out software companies in Oregon by classifying sales of their services based on the location of the purchaser, rather than the location of the company selling the service.

The majority of the City Club committee that recommended a “yes” vote on Measure 97 also argued that “… the potential benefit of adequately funded state services outweighed any of the tax’s potential detrimental effects and that the consequences of prolonging the state’s revenue shortage where (sic) too great.”

Outweighed “any of the potential detrimental effects”? In other words, satisfying the state’s greed with $6.1 billion in additional revenue per biennium is more important that an expected dampening of income, job and population growth. Give me a break.

Finally, in endorsing Measure 97, the City Club is giving an easy out to liberal Democrats who want to avoid tackling difficult spending issues.

For example, as the minority pointed out, the unfunded PERS liability is $21-$22 billion. If nothing is done to deal with the creeping cost of PERS, even the Measure 97 windfall won’t be enough to avoid a funding crisis.

It’s not as though Oregon’s budget problems snuck up on the Democrat-controlled Legislature, leaving it no choice but to abdicate its responsibilities and leave it to a poorly crafted union-inspired ballot measure to fix things.

It’s been abundantly clear for a long time that trouble was coming. Where was the grit to fix things right?

 

Black student demands to erase history at the University of Oregon: just say no.

DeadyHall

The University of Oregon’s first building opened on Oct. 16, 1876. It was named Deady Hall for Judge Matthew Deady in 1893.

On November 17, 2015, the University of Oregon’s Black Student Task Force sent a list of twelve demands to four top university administrators.

The group asserted that “the historical structural violence and direct incidents of cultural insensitivity and racism” on campus create an environment that prevents black students from succeeding.

In order to create “a healthy and positive campus climate” for black students, the Black Student Task Force said:

“We…DEMAND that you work with us and implement the following list of programs:

  • Change the names of all of the KKK related buildings on campus. DEADY Hall will be the first building to be renamed.
  • We cannot and should not be subjugated to walk in any buildings that have been named after people that have vehemently worked against the Black plight, and plight of everyone working to achieve an equitable society.
  • Allowing buildings to be named after members who support these views is in direct conflict with the university’s goal to keep black students safe on campus.
  • We demand this change be implemented by Fall 2016”

University President Michael Schill appointed a committee of administrators, faculty, and students to develop criteria for evaluating whether to strip the names off Deady Hall and Dunn Hall, part of Hamilton residence hall, because of their association with racist actions in Oregon in the nineteenth and early twentieth centuries.

Once the criteria were established, Schill assembled a panel of three historians to research the history of Matthew P. Deady and Frederick S. Dunn to guide his decision-making.

The historians recently released an exhaustive, extensively footnoted 34-page report.

The report described the complex lives of both men, lives filled with negatives, positives, ambiguity and contradictions.

Deady, though a territorial legislator, constitutional convention delegate and presiding officer, and U.S. District Judge for thirty-four years, supported slavery.

Dunn, though he graduated from the University of Oregon, spent the vast majority of his career there and enjoyed a national reputation as a classics scholar, was also a prominent member of the Ku Klux Klan and led the Eugene chapter.

Based on the historians’ report, there is no question that both men held views and engaged in activities that would be considered loathsome today.

But that does that mean their names should be summarily erased from history at the University of Oregon.

To surrender to the Black Students Task Force’s demands would be to embrace presentism in all its intellectual weakness, to endorse interpreting historical events without any reference to the context or complexity of the time.

If there’s one thing students should learn in college, it’s that It makes no sense to see the world entirely in the present tense.

In looking at history, it is critical to acknowledge the degree to which our position and experiences color how we look at bygone days, places and people.

Presentism “…encourages a kind of moral complacency and self-congratulation,” said Lynn Hunt, president of the American Historical Association. “Interpreting the past in terms of present concerns usually leads us to find ourselves morally superior…,”

Many of our forbears espoused racial views that are today considered abhorrent, including people we still consider exemplars of the American experience.

In addition, somebody’s historical goodness and worth should not be based on just one criteria.

“…making race the only basis of judgment…does violence to the spirit of historical investigation, because it reduces complex individuals to game show contestants who must simply pass or fail a single test,” says David Greenberg, a professor of history and journalism and media studies at Rutgers University.

In April 2016, Schill and Vice President for Equity and Inclusion Yvette Alex-Assensoh published a letter to the campus community saying, “…we recognize that we can and must do more as an institution to meet the needs of Black students”, but made no commitments on the building renaming issue.

When Schill does make a decision, I earnestly hope he will just say no.

 

 

 

 

 

 

 

 

 

 

 

Meg Whitman: how to betray your principles in one easy step

Meg Whitman, Hewlett-Packard Enterprise CEO, is campaigning for Hillary Clinton in Denver, CO today.

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“I will vote for Hillary, I will talk to my Republican friends about helping her, and I will donate to her campaign and ry to raise money for her.” Meg Whitman, August 2016.

This is a woman who, in her losing bid to become governor of California as a Republican in 2010, called for:

  • Eliminating burdensome business taxes
  • Eliminating a cap on charter schools
  • Barring illegal immigrants from state colleges and universities.
  • Ending “outrageous spending” on a growing state bureaucracy
  • Reducing overall state spending
  • No amnesty for people in the United States illegally, construction of a fence on the Mexican border,
  • Repealing Obamacare
  • Requiring minors to notify a guardian or parent prior to an abortion
  • Enforcing the Three Strikes law because it was “instrumental in keeping violent criminals out of our communities”
  • An end to the Dream Act because it wasn’t fair to legal residents.

I could go on and on, but it is abundantly clear that Whitman’s political views, based on her 2010 gubernatorial campaign, are diametrically opposed to those of Hillary Clinton.

Hillary, for example, wants to:

  • Increase federal spending by $1.8 trillion over the next decade.
  • Increase the national debt to 86% of GDP over the next decade.
  • Expand benefits under an already troubled Social Security program.
  • Expand Obamacare
  • Increase various business taxes
  • Impose new fees on financial institutions
  • Enact liberal immigration reforms

Whitman’s support for Clinton today, then, can only be seen as an abandonment of her principles and a cynical ploy to secure a position in a new Clinton administration.

So forget about all the kudos for Republicans like Whitman who say they’ll vote for Hillary.

As Associate Justice of the Supreme Court Sonia Sotomayor said, “There is indeed something deeply wrong with a person who lacks principles, who has no moral core.”

 

 

 

Lies, damn lies and statistics: SEIU’s campaign for Measure 97

lyingcartoon

“Those who lie, twist life so that it looks tasty to the lazy, brilliant to the ignorant, and powerful to the weak,” said José N. Harris, an American author.

Based on pro-Measure 97 arguments being put out there by the Service Employees International Union (SEIU), the union knows all about twisting life.

A flyer just mailed to Oregon households by SEIU says 0.25% of Oregon’s 400,000 businesses would pay more under measure 97. Not so fast.

An analysis by the Oregon Legislative Revenue Office on the potential impacts of Measure 97 (when it was still referred to as Initiative Petition 28) made clear that the actual number of businesses that will pay the new taxes is unknown and trying to pin down an exact number is “particularly risky”. That’s because it’s not known how many businesses will take steps to reduce or eliminate the increased tax triggered by the measure.

Potential tax avoidance strategies, according to the Legislative Revenue Office, include:

o Shifting from a C-Corporation to an S-Corporation or non-corporation status.

o Spinning off subsidiaries into separate businesses to reduce Oregon sales below $25 million on the combined state corporate tax return.

o Using mergers and acquisitions or other methods to adjust where the plurality of services are performed under the cost of performance apportionment methodology.

o Vertically integrating with intermediate suppliers in order to reduce taxable transactions.

o Converting to a benefit company, which would not be subject to the new tax.

The risk of setting a firm number for tax revenue under Measure 97 is heightened further by the fact the direct effect of the measure would be “…so heavily concentrated on a relatively few large corporations, thereby giving them a powerful incentive to develop tax planning strategies,” the Revenue Office concluded.

To the extent businesses do take steps to minimize or avoid the new tax, the predicted revenue may not flow into the state’s coffers, forcing more tough choices.

The SEIU is also guilty of peddling dishonest information when it says in its flyer” “Fact: funding can only be spent to improve education, health care and senior services.” SEIU knows full well that Measure 97 would not limit how the resulting tax revenue could be spent by the legislature.

Measure 97’s spending requirements are meaningless Legislative Counsel Dexter Johnson said in an Aug. 1 letter to Rep. John Davis, R-Wilsonville, a member of the House Committee on Revenue.

If Measure 97 is approved by voters, the Legislature can appropriate its revenues “in any way it chooses,” Johnson said. Not only are Legislators “not bound by the spending requirements” of Measure 97, they can “simply ignore” them,” Johnson added.

And even if Gov. Kate Brown has said, “…I will make sure the funds the measure yields go ­toward schools, health care and seniors, as the voters expect,” she is not bound to that commitment, nor are future governors or legislators.

In its purposeful deceit, the SEIU is revealing its true opinion of Oregonians. As John-Paul Sartre said, “the worst part about being lied to is knowing you weren’t worth the truth.”

 

Troubling questions: media donations to the Clinton Foundation

clintonfoundation

While listening to Oregon Public Broadcasting the other day I heard an interviewer mention that Public Radio International (PRI) had given money to the Clinton Foundation.

A review of the Clinton Foundation’s records reveals that PRI has, in fact, donated $10,000 – $25,000 to the Foundation. The purpose of the donation is not given.

Talk about bizarre. A major non-profit media organization that relies on donations itself, turns right around and gives some of its limited resources to another non-profit, the Clinton Foundation.

I asked PRI to explain, but they didn’t respond.

In the process of researching the issue, I learned something even more disturbing. PRI is one of dozens of media organizations that have donated to the Clinton Foundation, creating or maintaining questionable symbiotic relationships.

One of the other media donors is Public Broadcasting Service (PBS), a non-profit provider of programs to public television stations that relies on donations itself.

Media, which harp on their commitment to ethical behavior, clearly have a problem here. How can they not see it?

Last week the Clinton Foundation said it won’t accept donations from corporations or foreign entities if Hillary Clinton is elected president. A halt to accepting media donations should be adopted, too.

Other media-related donors to the Clinton Foundation include:

$1,000,000-$5,000,000

 Carlos Slim, Telecom magnate and largest shareholder of The New York Times Company

 James Murdoch, Chief Operating Officer of 21st Century Fox

 Newsman Media, Florida-based conservative media network

 Thomson Reuters, Reuters news service owner

 

$500,000-$1,000,000

 Google

 News Corporation Foundation

 

$250,000-$500,000

 Houghton Mifflin Harcourt, Publisher

 Richard Mellon Scaife, Owner of Pittsburgh Tribune-Review

 

$100,000-$250,000

 Bloomberg Philanthropies

 Howard Stringer, Former CBS, CBS News and Sony executive

 Intermountain West Communications Company, Local television affiliate owner (formerly Sunbelt Communications)

 

$50,000-$100,000

 Bloomberg L.P.

 Discovery Communications Inc.

 Mort Zuckerman, Owner of New York Daily News and U.S. News & World Report

 Time Warner Inc., Owner of CNN parent company Turner Broadcasting

George Stephanopoulos, Communications director and senior adviser for policy and strategy to President Clinton

 

$25,000-$50,000

 AOL

 HBO

 Hollywood Foreign Press Association

 Viacom

 

$10,000-$25,000

 Knight Foundation

Turner Broadcasting, Parent company of CNN

 Twitter

 

$5,000-$10,000

 Comcast, Parent company of NBCUniversal

 NBC Universal, Parent company of NBC News, MSNBC and CNBC

 Public Broadcasting Service

 

$1,000-$5,000

 Robert Allbritton, Owner of POLITICO

 

$250-$1,000

 AOL Huffington Post Media Group

 Hearst Corporation

 Judy Woodruff, PBS Newshour co-anchor and managing editor

 The Washington Post Company