News
Shortsightedness in Wake of Gulf Oil Disaster
Aug 1st
It is saddening to see how quickly people’s opinions and actions have shifted in the wake of the Gulf oil spill. For instance, students, professors and the general public are demanding that UC Berkeley sever ties with BP because of the spill. BP provided a $500 Million grant to create an institute that is working on developing new plant based fuel sources. This is a tremendous project that could result in the discovery of new alternative fuels that would inevitably reduce our use of crude oil.
What people continue to do in the aftermath is not see the potential ramifications of their decisions. Ending this relationship with BP will result in a loss of jobs on the UC Berkeley campus, a tremendous blow to the research of alternative fuels, and it will contribute to an ever-growing anti-BP sentiment that has swept the country and will likely only result in more economic hardship as the public and government put pressure on the oil industry.
Do the world a favor and look in the mirror and try telling yourself with a straight face that you don’t consume products derived from crude oil. If you drive, buy groceries, drink soda/bottled water, wear clothes, are reading this on the Internet right now… then guess what, you consume oil and this oil spill is a result of that demand. We all need to support programs like the one at UC Berkeley, that is solely the result of BP’s generosity, that will help relieve our insatiable appetite for crude oil from environmentally sensitive areas.
Technorati Tags: oil, bp, UC Berkeley, alternative fuels
My Solution to BP Station Owners’ Declining Revenue and Boycott
Jul 2nd
I have been following the BP disaster in the Gulf quite closely and have been especially observant regarding the business and economic ramifications of the event and I feel I have a solution to the revenue problem being realized by station owners. I will be the first to say that a boycott against BP branded gas stations is a childish solution to the problem at hand. The minimum wage employees of BP gas stations all across the country are being harassed verbally and physically threatened because of their affiliation with the oil giant. These stations are typically owned locally or regionally and the only connection they have to BP is the gas in their underground tanks.
While I am on the subject of boycotting BP, it should be realized that as one of the world’s largest producers of crude oil, they supply the raw materials for making plastics, food preservatives, dyes, carpet, DVD’s and more. So, just because you boycott a BP branded gas station, doesn’t mean you aren’t consuming a product utilizing their crude oil.
BP recently announced a rebate program to compensate its distributors 1-2 cents per gallon of fuel purchased going back to the date of the rig explosion. This compensation is meant to alleviate the sales declines suffered by these distributors from the nationwide BP boycotts. But the question remains, will this money trickle down to the station owners and/or consumers? I think not.
Gas station owners derive a good portion of their revenue and virtually all profit from the sale of items inside their stores and make little to no markup on the gasoline. Many BP station owners are reporting revenue declines of 10-40% because people who would ordinarily fill up (and grab a coffee or snack inside) are patronizing alternate gas stations. The solution that BP should be attempting is getting people back into the stores to purchase those convenience items that the station owners depend on to stay in business.
My solution: BP needs to begin a loyalty/rewards program for consumers that offers a rebate on every gallon of fuel purchased. This way the discount is not reflected on the price advertised at the street corner so that competitors will not just match the discount. BP could require you to signup for an account and give a membership card that will then entitle you to a 3 to 5 cent per gallon discount on fuel. This discount could be given directly at the pump in the form of a lower price after swiping your membership card, or in the form of a reward sent to you in the mail after you reach a certain rebate threshold.
By offering an incentive such as this, BP stations would see a dramatic rise in business not only at the pump but inside their convenience stores as well. In desperate economic times such as this, many people will choose a BP station to save a nickel per gallon despite what’s going on in the Gulf. This would also go a long way in repairing the PR nightmare that BP has been experiencing over the last couple months. The cost to BP would be minimal considering the larger positive impact it will have on their stations’ business, thus increasing BP’s overall franchise royalty revenue.
If you work really hard and you're kind, amazing things will happen. – Conan O'Brien
Jan 23rd
Conan O’Brien just finished his last episode of The Tonight Show. I have not been a long-time fan or follower of O’Brien, but the recent controversy surrounding NBC’s decision to shake up the late night line up had me tuning into his show regularly for the past couple of weeks. I grew to enjoy his show and comedic delivery and felt the final episode tonight was the best one since I started watching.
The title of this post “If you work really hard and you’re kind, amazing things will happen.” is one of the final things Conan O’Brien said at the end of his final Tonight Show episode and really struck a chord with me. During the episode, O’Brien had Tom Hanks on the show and they reminisced about the old days when he was a young red head kid trying to impress an accomplished actor with his raw comedic talent. O’Brien expressed his hatred of cynicism and encouraged the young viewers to be kind and work hard to get what they want in life.
I’m feeling extremely motivated and inspired by his words tonight and will be keenly following his career and working really hard on my own future, and being kind along the way.
Increased Pell Grants and Lower Higher Education Borrowing Costs
Sep 17th
I am happy to see the US House of Representatives passed a bill that will increase Pell Grant funding and lower stafford loan borrowing costs for those of us that are continuing our education at the college level.
The bill will eliminate government subsidies to banks issuing Stafford Loans and will now make those loans funded directly by the government. While I don’t ordinarily like the government getting involved in private enterprise, I feel this move is needed. These banks have tremendous leverage and power over students by making Billions in profits on loans that are guaranteed to be repaid, and are even protected from bankruptcy discharge. These are the same banks that have received Billions in government bailout money because even with their massive student loan profits, they lost money on highly leveraged, risky investments. Companies like Citibank and Sallie Mae.
The cost of higher education is quickly reaching a point where many people are questioning whether the accumulation of debt is even worth the increased earning power a college degree may provide. I am in too deep to look back now and will have to finish my program in order to have something to show for my massive student loan debts.
I look forward to receiving a higher Pell Award next year and even greater savings on my Stafford Loans. I would love to see the government offer more incentives for student loan consolidation which I will be looking to take advantage of in a couple of years to make repayment easier and more cost effective.
Rapper Ludacris Gives Away 20 Cars
Sep 7th
In a purely selfless gesture, the rapper Ludacris has given away brand new cars to 20 people who wrote essays to his foundation explaining how having a car would help them in getting to work and keeping their jobs. Luda received thousands of essays and chose the 20 most touching examples of Americans dealing with unique hardship and pushing through their struggles to make a better life for themselves and their family.
Some of the cars given away include a Nissan Maxima and Saturn Ion. Hopefully the new wheels help those 20 people keep their jobs and make their lives a little easier. Thanks go out to Ludacris for giving back on Labor Day in a time of difficulty for most of the nation’s labor force.
My Take – AP Photo of Fatally Wounded Marine
Sep 4th
I am not surprised by the hypocritical position of Defense Secretary Robert Gates forcefully asking that the AP not publish a photo of a fatally wounded Marine in Afghanistan. Why is it ok for the news media to take pictures of dead, maimed, and disfigured Afghanis and Iraqis and publish those photos without objection, but it’s not acceptable for the same type of picture to be published when the person is American? Who is there to stand up for the foreign victims of war whose friends and family’s bodies are broadcast on the news and in papers across the world?
I think the AP has every right to publish these photos and they should. Why is the Defense Secretary not defending the thousands of innocent bystanders whose dead bodies have been in the news countless times since the start of hostilities in the region. This double standard is bullshit and either all pictures of death should be banned in the media or freedom of the press should continue unaltered, I choose the latter.
Technorati Tags: Afghanistan, marine, war, robert gates, secretary of defense, associated press
Mega Millions August 25, 2009 – No Winner!
Aug 26th
There was no winner in the August 25 Mega Millions drawing, bringing Friday’s jackpot to $325 Million! The cash options pays out a whopping $204.5 Million.
Technorati Tags: mega millions, shaun carter, jackpot, drawing, lotto, lottery
Michael Jackson's Death Ruled a Homocide
Aug 24th
In an expected turn of events, an unnamed source divulged that Michael Jackson‘s autopsy showed his body had a lethal level of propofol in it at the time of his death. While this certainly will warrant a successful wrongful death lawsuit and medical malpractice charges, it appears that Jackson brought this on himself. He had been shopping for drugs, doctors and was obviously negligent on his own.
Technorati Tags: michael jackson, shaun carter, propofol
Student Loan Changes
Aug 16th
I am very much intrigued and supportive of the proposed changes to the way student loans are issued nationwide. This is a topic that is very dear to me because of the substantial sum of student loans I am currently carrying and will need to take out in future years in order to continue my education.
Under the current system, many students whose parents aren’t able to pay for their tuition and room expenses, loans must be taken out. But the Federally guaranteed Stafford Loans don’t even begin to cover the cost of attendance at most public schools. Private loans must be sought and at a much higher interest rate of up to 15% or more.
The new program will eliminate private lending and make Stafford-like loans sufficient to cover the cost of attendance. The savings provided by the change will amount to over $85 Billion through the first 10 years.
“Among other things, the savings will be used to significantly boost Pell Grant scholarships (need-based grants given to low-income students), to keep interest rates low on need-based federal student loans for years to come, to simplify the FAFSA (Free Application for Federal Student Aid) form, to invest in strengthening community colleges,” Rachel Racusen, the deputy communications director of the House Education and Labor Committee, said in an e-mail.
Traditional education lenders are opposed to the plan because it will immediately eliminate them from a very lucrative market. Since the new bankruptcy laws of 2005 went into effect, all student loans including those issed by private lenders are protected from discharge and must be repaid, virtually eliminating loan loss to the corporations that fund them.
I am looking forward to the passing of this new legislation and the savings it will bring myself and millions of fellow college students around the country.
Technorati Tags: shaun carter, college, university, student loans, stafford, pell grant, education loans, sallie mae
No Tax on AIG Bonuses
Mar 23rd
The mess created by the government getting involved in propping up banks has made every US taxpayer a “shareholder” in these banks and highly critical of every little thing that goes on behind the scenes. I strongly oppose Congress’ proposal to slap a 90% tax on the bonuses being given to some AIG employees. These people have contracts and have been expecting these “retention bonuses” as part of their pay package. How would you feel if suddenly public opinion turned against the industry you are employed in and the government took away your contractually guaranteed bonus? It’s not right.
I also disagree with Congress’ attempt to demand a list of names of those AIG employees who received bonuses and did not return the money to the company. That is none of Congress’ business and those employees identities should be protected as all employees personal information should. But some grandstanding politicians will do anything to get re-elected and many of their constituents are on a witch hunt right now for these banking executives.
Technorati Tags: congress, aig, bailout, bonus, bonus tax, shaun carter
