Monthly Archives: May 2008

A Profitable Company With a Liquidity Problem

May 30, 2008
By

Detroit’s Greektown Casino is in bankruptcy proceedings! (permalink PDF) Huh? Of course, the Casino management argues that they’re not really bankrupt, they just can’t pay the bills. I wonder if I could get away with that argument? Casinos have license from the State, which grants them (for all intents and purposes) a monopoly on gaming. Hell, if you have a big enough Casino, you even get to exempt yourself from smoking bans! After all,...

Read more »

Innocent Until…?

May 30, 2008
By

Until proven guilty, right? Unless the State withholds exculpatory evidence and convicts you anyways. And then maybe 26 years of three-hots-and-a-cot later, you might be exonerated. As long as the justice system incentivizes convictions, in lieu of incentivizing the protection of innocents, there will be people like Walter Swift, who suffer unjustly (permalink PDF): After an 11-year campaign, the Innocence Project — the legal group headed by Barry Scheck that investigates wrongful convictions —...

Read more »

Safety Belt Paternalism

May 22, 2008
By

The annual safety belt enforcement blitz is under way, in Michigan. A Public Announcement commercial advises that “Right now, it’s the one thing are looking for.” Having eradicated all other crime, of course. Still, some drivers Tuesday were unaware they were driving through an enforcement zone. …ummm, shouldn’t all areas be “enforcement zones”? Just asking. The good news is that people in the “comments” section are calling it “fascist”.

Read more »