Because the "money-grubbing teachers" are under attack

Big Pharma ... Big Woop!

The NYT reported today that Pfizer is about to "lose" a $10 billion a year revenue stream, when the patent on Lipitor expires later this year. Making $10 billion a year for more than a decade should be enough to protect the financial security of ANY company. Calling this a loss is truly ridiculous. Perhaps reducing bonuses and shareholder dividends during the high times would have left Pfizer with enough cash to reinvest in itself.

This is a "problem" and a loss for Wall St. expectations of double-digit growth year after year. To avoid this terrible problem of not making $10 billion dollars this year and maybe next year, shareholders should be willing to expect lower returns for longer-term stability, but what the fuck am I saying. The Street needs to bleed the pig dry and then move on to another bubble victim.

The mere idea that we are to be sympathetic to the woes of the likes of AstraZeneca, GlaxoSmith-Kline, Novartis, Novo Nordisk, Eli Lilly and Merck is a hard pill to swallow. It's particularly challenging when some of these same companies have recently released drugs with nasty side effects.

In 2009 Pfizer paid the largest criminal fine in US History as part of a $2.3 billion settlement regarding off-label drug use. Some pharma companies have made spectacular profits from off-label sales of drugs that have been approved for only limited use. Off-label may mean that the drug is developed for oral use, but is being marketed as an injectable.

The regulatory environment in Europe has become more difficult for pharma companies to make huge profits as governments have regulated the prices of drugs more than in the US. As Europe starts to become more restrictive for big Pharma profiteers thay have turned their attention to less restrictive markets in Brazil, China and India. Look for injuries and lawsuits in those markets to be be handled with cash settlement and little press coverage.

The irony of this "big problem" for big Pharma is that it has caused stock values to dip and speculators to buy into the notion of yet another bubble.

"Welcome my son, welcome to the machine."

Southern Democrats listen up!

As Monica Potts pointed out in American Prospect, the new Republican legislatures in the South are already looking for ways to dramatically reduce spending on social programs and welfare. A majority of the region's attorneys general have joined Florida's lawsuit to overturn the Affordable Care Act, and it's unlikely that any of them will implement its provisions, such as the requirement to create state-level insurance exchanges, with enthusiasm, potentially leaving many families worse off than before. In our backyard, just days after taking office, Georgia AG Sam Olens joined the lawsuit opposing the ACA.

There's not much point in trying to persuade Democratic political strategists to care about the South. There is apathy in the party about turning back the red tide. But to undo the damage they are about to inflict on us, the party needs to invest in the grass roots of Georgia and surrounding states. The strategy might never again pay off on the map of the Electoral College, but in a decade or two, it might just result in a little more power and a better life for those who need it most.

Georgia Legislator Attempts AZ 1070 Redux

My local paper printed this piece of shit spin piece, about a "tough" immigration bill. Tough in the sense of tough to swallow perhaps.

The bill in question is HB 87 "Illegal Immigration Reform and Enforcement Act of 2011" and can be found at http://www1.legis.ga.gov/legis/2011_12/fulltext/hb87.htm.

A fair assessment of HB 87 would include some discussion of the costs associated with imprisoning those found guilty of “aggravated identity fraud”, for up to 15 years.

It would be reasonable for the paper to mention that this bill contains the exact same provisions as the Arizona law that the Federal Court recently struck down. The Arizona court struck down their ill-conceived law as it would have resulted in violations of the 4th Amendment right to be free from unreasonable search and seizure. Georgia should not be spending millions of taxpayer dollars to attempt to defend this indefensible proposition.

Here's an excerpt:

17-5-100

(b) During any stop of a criminal suspect by a law enforcement officer, where the officer has probable cause to believe that such suspect has committed a criminal offense, including any traffic offense, if, during the lawful detention of such suspect, the officer develops reasonable suspicion to also suspect that such person is an illegal alien, then the officer shall, when reasonably practicable, make an attempt to determine the immigration status of such suspect.

Is there such a thing as reasonable suspicion in this context?

As proposed, HB 87 will make criminals of many otherwise law abiding Georgians trying to make a living. The bill makes it a criminal offense to encourage an illegal immigrant to enter the state. It also allows almost any citizen to bring a lawsuit against any business, local or State government agency or official by just accusing them of violating immigration law. Further, HB 87 burdens every employer doing business in Georgia with using the Department of Homeland Security’s E-Verify system.

Agriculture, poultry, and manufacturing, several of the largest industries in the state, will be hit hard by the legislation. They’ll find themselves with an increased cost of labor and compliance, or they will simply shut down operations due to overly burdensome regulations.

This job-killing bill, stripping Georgians of constitutional protections should never be enacted. It is short-sighted and fundamentally wrong.

A unionized public employee, a member of the Tea Party and a Big Corp CEO are sitting at a table. In the middle of the table there is a plate with a dozen cookies on it. The CEO reaches across and takes 11 cookies, looks at the tea partier and says, "Look out for that union guy, he wants a piece of your cookie."

The "do nothing useful" 112th Congress - featuring John Boehner

In recent sessions of Congress, the first several bill numbers have been reserved by the leadership for priority bills. In the 112th Confress, bills H.R. 1 through H.R. 10 are top priorities of the majority leadership. So what are the priorities? Is job creation at the top? Nope!

The House is preparing to take up H.R. 4, "the Small Business Paperwork Mandate Elimination Act of 2011."  Sounds reasonable right? What it actually is, in other words...is an attempt to repeal the 1099 reporting provisions of the Affordable Care Act. Which the House already voted to completely repeal.

H.R. 1, turned out to be a full-year omnibus appropriations bill with $100 billion in cuts, and Republican attacks on Planned Parenthood. No jobs here, maybe next time.

H.R. 2 was the repeal of the Affordable Care Act, and if enacted would result in lost jobs. Nice!

H.R. 3 hasn't made it to the floor yet, but focuses on... job creation... Hello?, Bueller? Bueller? No it's an attack on abortion rights. Well done lads.

H.R. 5, is a medical malpractice tort reform bill. This is a big, big talking point which will have little financial impact. Oh yeah, and no jobs will be created.

They haven't decided yet what H.R. 6 will be. Don't hold your breath for job creation.

Where are the jobs, Mr. Boehner?

Apparently America has told him to bring three attacks on health care, and two on abortion. If we lose some jobs, "so be it"

The White House and Nancy Pelosi should be hammering the shit out of this. The American people could use a big dose of the truth.

John Boehner = empty suit.