the 6-2-5 Penny Press

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Commentary: Peggy Tartaro
THE PENNY PRESS, JUNE 2, 2005 PAGE 2
The People Are Bigger
“I am big, it’s the pictures that got small.”
In our new 24/7 news world, Gloria Swanson’s famous line from Billy
Wilder’s “Sunset Boulevard” takes on a new meaning.
“News” by definition is important, sometimes urgent, and worthy of
discussion and analysis.
But the way things work now, with so many pictures (and their attendant
pundits and analysts) available, so often and in such infinite variety, that
they become small by the countless acts of repetition.
In the first half of 2005, there were some genuinely important news stories, ones that will impact a lot of people’s lives, in a lot of years to come.
But because they come so fast and furious, it’s hard to get a handle on which
are lasting and which just lend themselves to the way media (and media
consumers) operate now.
People get small and stories get big, but in an unwieldy, inflated way,
that somehow seems to untether them from reality.
Cynics who think the general media foists sensational stories on the
public because “that’s what they want to see,” are forced to reassess that
position when more genuine stories come along, and media consumers
gladly give up sensation for substance.
This April’s “Trial of the Century,” the Michael Jackson case, was
pushed off the front pages and openings of newscasts by the death of John
Paul II. (March’s “Trial of the Century,” the Robert Blake murder case, was
all but preempted by the Terri Schiavo story).
To be sure, the wall-to-wall coverage of even important stories can get
downright weird at times, as news outlets struggle to get an unusual or
unique angle. I was struck by the bizarreness of one of the cable networks
showing an old still photograph of the Pope holding a koala bear-a quarter
century as spiritual leader to half a billion people, and the cute animal shot
still gets a prime place.
So, there is genuine news out there, but you have to be willing to look
for it. In a Google World, that’s easier than it used to be, but it’s frustrating, when some stories seem logjammed in some creepy loop of divorced
princes, fallen pop stars and failed American Idols.
The Schiavo matter, and even the death of the Pope, ignited genuine
discussion among folks-people who are never going to be television talking
heads, but people who are capable of interest and concern in matters larger
than themselves.
The discussion that takes place on the op-ed pages can be useful, just as
the opinions expressed by the legions of television talking heads can, but
the ones that really count are those that happen without the cameras, tape
recorders or notepads handy.
Instead of worrying that the news from a particular outlet is “slanted” or
“biased,” it would be a lot more useful if people started worrying if those
outlets were their only source of news and opinion.
I was actually rather heartened to be discussing Schiavo during a trip to
the hairdresser’s and at a break in a Scrabble tournament.
Over the years I have had stimulating discussions in airplane seats, on
living room couches and at restaurant tables.
Did I agree with everything I heard? Of course not. But the fact that
people can take the time and effort to express themselves to other people
without worrying about their close-ups is a very good thing.
Often we “just plain folks” have the luxury of much more nuanced opinions than those straining to get their comment in before the host cuts them
off at the requsite eight seconds.
I’m often in the position of talking to non-gunowners about guns and try
to remember to change hats from “Editor” to “Citizen” and from “Expert”
to “Acquaintance.” People are much more willing to listen with an open
mind that way.
You can be opinionated and passionate without being a bully and a
bore.
Because we’re so used to watching “discussion” in the form of verbal
bear-baiting, we often fall into that default mode, and usually end up alienating our audience.
When big pictures and big stories come up, it’s worth remembering that
it’s always the people who are bigger.
PEGGY TARTARO
Peggy Tartaro is the Executive Editor of Women and Guns Magazine
www.choateweinbergreport.com
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Contributing Editors:
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Al Thomas
Doug French
Bill Here
Dolores Lonergan Pat Choate
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Bob Jennings
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16 PAGES
VOLUME 2 NUMBER 36
JUNE 2, 2005
That's The News And We're Outta Here
By FRED WEINBERG
Publisher
Maybe it’s just the official beginning of the summertime blues or
maybe it’s just that children have
Media Analysis
taken over the decision making in
the local media, but a cruise through
the local stories on June 1, 2005
would surely make it seem to most
adults that Las Vegas is a little nuts.
The story which graces our front
cover is a scene from Mt. Charleston
which most local TV viewers have
seen.
What nobody has reported is that
this little waterfall came as a gift at
your expense from the same county
government which brought you—or
not, so far—the new Justice Center.
Last summer, the Clark County
Public Works department spent a
so-far undisclosed but probably significant sum of money paving a
fork in the road which turns into
the Rainbow subdivision from Kyle
Canyon Road.
In most cases, basic engineering
dictates that when you run a road
over a dry creek bed, you put a culvert under the road so the when the
creek fills up, the water goes under
the road.
Public Works spokesman Bobby
Shelton said that the contractor
paved over the road because it was
already there doing something else
and a culvert was not included in the
scope of the work.
That sort of thoughtfulness
resulted in the effect which appears
The Conservative Weekly
Voice Of Las Vegas
Inside:
Bye Bye
Arthur Anderson
See Editorial Page 6
on our front cover.
Now that waterfall might be
pretty, but when the creek dries
up again, we’re willing to bet that
the county will find it necessary to
spend far more than the $100 a foot
that a county source told us culvert
would have cost.
Has anybody bothered to report
that fact?
Nope.
And nobody has also bothered
to mention in their “flood reporting”
that dry creek beds are there for a
reason and when you try and alter
them you get flooding.
True, the county-produced waterfall is just a minor screwing of the
taxpayers compared to the Justice
Center and the airport land swaps.
But regular readers of this newspaper know that the public works
director himself, Martin Manning,
Penny Wisdom
Trying to determine what is
going on in the world by reading newspapers is like trying
to tell the time by watching
the second hand of a clock.
—Ben Hecht
found the time a year and a half
ago to intervene in a Mt. Charleston
neighborhood dispute (Homeowner
Hardball, October 16, 2003) and
single out one resident for no particular reason. It’s too bad that while
he was doing that, he wasn’t looking
at the work that his crews were preparing to do within a mile.
On the front page of Tuesday’s
Review Journal is the truly remarkable story of a defense attorney
complaining that illegal aliens who
commit felonies get prison recommendations more often than legal
resident felons for the same crime.
They—both the RJ reporter
and the attorneys—just seemed to
assume that illegal aliens have the
same rights under our laws that citizens and legal residents have.
Nobody in the entire article sug-
PAT CHOATE
FRED WEINBERG
DOUG FRENCH
BILLHERE
AL THOMAS
DIANE GRASSI
JOYCE MEYER
BULLRING RESULTS
PET OF THE WEEK
Continued on page4
PAGE 5
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PAGE 10
PAGE 11
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PAGE 13
PAGE 15
Film At Eleven...
Continued from page 3
gested that entering this country illegally AND committing a felony combined SHOULD net you prison time—right before we deport you.
They call them illegal aliens not because they come from Area 51 but
because they snuck into the country—get this—illegally!
When you then go any commit another crime on top of that and have
your attorney (who was paid for by guess who?) complain that you’re getting prison time where a legal resident might get probation seems awfully
disingenuous, doesn’t it?
And the failure of the RJ to somehow balance its story by at least quoting some sane legal source who said so is equally disingenuous.
Then there’s the ongoing dispute in the State Legislature about how to
give back $300-million of the money they stole from us in 2003.
These guys are all worried about whether or not we’ll have to pay taxes
on the money.
The Gov wants to give us back a check for up to $300 of each car we
registered last year.
Senator Bob Beers (who’s a CPA by profession) points out quite rightly
that if they just give us a voucher for up to $300 next year that completely
avoids any tax consequences and saves the state the costs of writing all
those checks.
Of course, the Gov wants to be remembered as the guy who first stole
the money and then gave it back and that works better when there’s a check
involved.
And the Democrats want to give back $150 to everyone with a driver’s
license because many of the poor people they say they represent don’t pay
our overblown highway robbery registration fees.
And the media reports all of this with a straight face because many of the
reporters doing the stories haven’t been here long enough to register a car.
And then there’s the story of Gallagher slapping a patron of his show in
Laughlin. He says it was part of his act. The guy he slapped filed a report
with Metro. Gallagher is no longer performing at that hotel in Laughlin.
The school administration admits that they have a “public relations
problem” in first buying a building with an executive suite that has a half
a million dollars in furnishings, fixtures and art and then telling the media
they couldn’t see it until yesterday.
And, finally, in the cavalcade of local news on June 1, 2005, Ivana
Trump has announced she’s building a condo tower larger than her ex
husband’s project across the street.
Like they used to say, film at eleven.
THE PENNY PRESS, JUNE 2, 2005 PAGE 5
Commentary: Pat Choate
CIA’s private air fleet of 26 planes is
being used to haul foreign prisoners
to places such as Libya and Syria
where local thugs torture them in
ways long out outlawed in the U.S.
To top all this off, the President
proclaimed in his news conference
A year ago, pictures of American that charges of U.S. torture made by
troops humiliating naked Iraqi pris- Amnesty International are “absurd.”
oners dominated global news. Now,
Well, though the President denies
the ACLU promises to release addi- it, the U.S. is torturing prisoners and
tional pictures and videos, secured apparently doing it on a grand scale.
from the Department of Defense What is “absurd” is the U.S. is actthrough Freedom of Information ing as the Russians and Chinese do
requests that will picture even worse – beating worthless confessions out
abuses including prisoners being of people.
raped.
Simply put, this is wrong. It
As a run-up to the big story, The makes a mockery of our claims
New York Times Tuesday edition that we are exporting freedom and
(May 31, 2005) reported that the democracy. It makes people around
Torturing Iraqi
Prisoners
Unacceptable
the world hate us. The memories of
these inexcusable acts will continue
long after the Iraqi conflict is over.
What amazes me is the passivity and self-censorship exhibited by
senior Republicans in the House and
Senate. Senator John Warner (RVA) began hearings on U.S. torture
of Iraqi prisoners. Then, he dropped
them, apparently after getting White
House pressure.
Sunshine on the matter is what
we require not more darkness.
Moreover, all these thugs acting in
our good names need to remember
that U.S. law does not have a statute
of limitations on murdering prisoners. And there are instances of
our troops going too far and killing
people.
The GOP’s refusal to confront the
President on this issue is a compelling reason for voters to deny them
control of the House and Senate in
2006. If the Democrats controlled
either house of the Congress, they
could hold hearings and really bring
these public-conducted crimes to the
voters’ attention.
The one thing that is for sure is
that Americans do not support the
practice of torturing prisoners. It
was unacceptable when the thugs in
North Vietnam did to U.S. servicemen such as John McCain and it is
unacceptable for our troops to do it
to the Iraqi people.
PAT CHOATE
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The Penny Press Tips Its Cap To:
The Ford Motor Company for starting a "Save The Mustang" program to
help save Nevada's wild horse population. The truth is that on a crazy news
day, the number one truck and SUV manufacturer in the world premiered
a great idea which should make every animal lover smile. And maybe buy
an F-series pickup.
Sheriff Bill Young for saying what we all know is true about the so-called
"outcall" services. “There are no legitimate outcall services,” said Young.
“They’re all fronts for prostitution.” And yet there are adults, right here in
Las Vegas, who are shocked—shocked!—that not only is prostitution going
on right here in Sin City but it's being advertised in the phone book.
The Penny Press Sends A Bronx Cheer
And A Bouquet of Weeds To:
Judge Gerald Hardcastle for his ludicrous decision to unite an abusive
mother with her paralyzed daughter. Her daughter was paralyzed in a stabbing when her other daughter was killed in 2003 by two people who they
sold bogus drugs to. Hardcastle turned down the District Attorney's petition
to sever the mother's parental rights despite the facts of the case and the fact
that the little girl wanted to stay with the foster family. Stupidity rules.
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OPINION
THE PENNY PRESS, JUNE 2, 2005 PAGE 6
From The Publisher...
Arthur Anderson Won't Be Missed
Lawyers have a term which they don’t expect mere mortals So had Anderson. And much of what they did was easily
to comprehend when they talk about court rulings.
deserving of the death sentence they got.
The term is “good law, bad case”.
To give you an idea how this firm operated, years ago, I
was involved in putting together an oil deal which we sold
The best illustration of that term we’ve ever seen came to investors. In order to sell the deal to investors, we proTuesday when the Supreme Court ruled unanimously that jected our future revenues. We thought we were right, but
the accounting firm Arthur Anderson was not guilty of a then, we’re not accountants.
criminal offense when one of their lawyers reminded their
Houston office of their established document retention poli- So, we went the Tulsa office of Arthur Anderson to seek
cy—after it became known that the Feds were all over their their counsel.
client Enron.
Here’s the counsel we got:
In plain terms what happened was that Anderson had a
long-standing policy of shredding documents over a certain “For $15,000, we’ll put your projections on our letterhead,”
age and an Anderson lawyer made sure that the Houston we were told by a Partner there.
office followed that policy once she found out that Enron
was under a federal investigation.
He told us that before he even looked at our projections.
That started a shredding party of mammoth proportions.
That, folks, is this wonderful firm which just got its criminal
conviction overturned by the Supreme Court.
The good law part of the Supreme Court decision is that
normal business behavior should not be criminalized. A In this case of very narrow circumstances, the Court happerfect example here would be the case of Martha Stewart pens to be correct.
where she was convicted of lying about a crime she actually
did not commit.
But in general, the Anderson partners in Houston and
Chicago acted like pond scum in this case and allowed a
We have gone from a situation where business executives fraud of massive proportions to be perpetrated on the pubwere being treated like rock stars to where some of them lic which includes all of us Nevada Power customers who
are being treated like detainees in Guantanamo Bay.
may have to pay off a contract to Enron for power which we
never got.
The truth is, neither is appropriate.
Unfortunately, the Supreme Court is not looking at the
That said, I, personally think that in this case justice was behavior of the actual accountants in the Houston office of
done.
Arthur Anderson or you might have seen the words pond
scum actually used in an opinion from the Court.
You’ll hear a lot of media moaning about all those people
at Arthur Anderson losing their jobs because the firm was So before you listen to any former Anderson executives
convicted of a crime and lost all of its customers and its braying about how they were exonerated consider this:
accounting licenses.
Not only did they help Enron steal, they have a rap sheet
Bullcrap.
along those lines as long as my arm.
It’s like my father once said when he punished me for some- And while we agree with the Court that they probably didn’t
thing I loudly professed that I didn’t do.
violate the letter of the law in the shredding issue, we won’t
shed any tears for the departed firm.
“Well,” said Dad. “Then that was for something I didn’t
catch you doing. It all evens out.”
Couldn’t have happened to a more deserving bunch.
He was, of course, right. I had done plenty.
FRED WEINBERG
THE PENNY PRESS, JUNE 2, 2005 PAGE 7
Commentary: Doug French
Love Affair With Government
Just what accounts for the people’s love affair with government? Make
any attempt to discuss decreasing the amount of government (let alone
eliminating it entirely) in our lives and people recoil in horror.
“Well, what about roads? Don’t you think government is needed so we
can have roads?” No. “OK, what about national defense? We need government to protect us from them foreigners.” Why must government have a
monopoly on defense services?
Government by its very nature tramples on our natural rights, yet 99 of
every 100 people believe that government provides the essential framework
for our lives. Why is that? Professor Daniel B. Klein an Associate Professor
of Economics at Santa Clara University calls it “The People’s Romance.”
In a paper entitled The People’s Romance: Why People Love Government
(as much as they do), Klein has determined that people have a “yearning
for encompassing sentiment coordination” by analyzing mutual coordination and focal points. In Klein’s view people have this urge (The People’s
Romance) despite it denying individual self-ownership.
For many people, what makes us Americans is government intervention.
It is government that provides people a “common frame of reference, a set
of cultural focal points, a sense of togetherness and common experience…”
Klein explains.
Thus, even those who advocate for smaller government still insist that
Social Security, the US Postal Service, the public school system, public
transportation, the US military and so on are required.
The key, as Klein points out is that people feel that the government is a
part of them, “they fancy themselves part of the governing set.”
Studies show that primitive people tend to socialize through dance and
exhibit remarkable uniformity in rhythm. The beat of the drums provides
the rhythm, organization and structure for the participants, who then act in
uncanny unison.
Government is the coordinating drummer in today’s society, providing
the authoritative leadership and direction as opposed to development by
way of a spontaneous order.
Klein cites economist Adam Smith who frequently wrote; “that man
yearns for coordinated sentiment like he yearns for food in his belly.”
It is this encompassing coordination that Klein calls “The People’s
Romance.” And with government creating permanent institutions such as
schools, roads and the postal service, “it determines and enforces the set-
ting for an encompassing shared experience – or at least the myth of such
experience.”
This coordination always seeks to dominate and expand while requiring
conformity and inclusion. Dissension will not be tolerated, The People’s
Romance “wishes to stamp out sentiment discoordination.”
Klein’s work gives us an insight into how our elected officials on all
levels think. These politicians and the bureaucrats that work for them feel
that there is “ownership of everyone by everyone, which of course means by
the government. One person’s opting out of the romance really does damage
the interests of the others.”
Property rights and freedom are the antithesis to The People’s Romance.
Thus, the government arbitrarily taxes you for the privilege of owning your
own property. The People’s Romance requires coercion to stop discoordination. “It is chiefly by coercing that the government inculcates the notion of
The People,” Klein explains.
The People’s Romance explains why those in government, their apologists and cheerleaders so often enact legislation that harms the people.
Minimum wage laws create unemployment, trade barriers make us worse
off, and public schools are failing yet governments continue to expand these
policies. Why? For example: “Voucher schemes undertaken in a climate of
antigovernment privatism will only hasten the death of all public seeing
and political judgment, enhancing the private power of individuals at the
expense of a public vision of our common world,” wrote political theorist
Benjamin Barber in 1984. Those in government do not want individuals to
have power.
To further coordinate the masses, government constantly creates scapegoats. Thus, wars are declared – War on drugs, War on Poverty, War on
Illiteracy, War on Hunger, and the War on Terrorism – so as to turn indifferent individuals into passionate citizens who hate the bad guys and root for,
and are a part of, the good guys.
So is there any hope for a return to a true conservative or libertarian
society that America’s founders envisioned? It may already be happening,
albeit slowly.
The single greatest People’s Romance indoctrination program is the
public school system. But, more and more parents are opting out of the system, choosing either to home school or private schools.
We can only hope that these trends continue; civil society depends on
The People’s Romance fading away.
DOUG FRENCH
THE PENNY PRESS, JUNE 2, 2005 PAGE 8
The Best Vegas Calendar BAR NONE!
By Billhere
The FREE, e-mailed, VegasResource.com Newsletter and complete index of
Las Vegas coupons for shows, buffets and attractions is available on the internet at:
http://www.vegasresource.com/FreeVRC.html
JUNE, 2005
===========
Through June 13= Shena Easton - Aladdin.
Through June 20= Matt Dusk - Golden Nugget.
Through July 31= Treasures of Ancient Egypt Exhibit Guggenheim
Hermitage Museum - Venetian.
Through Sep.17= Summer display - Bellagio Conservatory and
Botanical Gardens.
Through Oct.31= Titanic... The Artifact Exhibition - Tropicana.
Through Oct.31= “ Feathered Dinosaurs” exhibit - Las Vegas
Museum of Natural History.
+++++
1-5= Andy Williams - The Orleans.
2-8= Chris Isaak - MGM Grand.
2-15= George Carlin - Stardust.
+++++
2-July 15= World Series of Poker - Rio & Binion’s. Tel.: 1-877367-9767. Internet site at: http://www.worldseriesofpoker.com/
+++++
2= CAFE, the 24-hour coffee shop completely renovated, reopens
- Harrah’s.
3= Black Eyed Peas - Hard Rock The Joint.
3= The Beach Boys - Mandalay Bay Beach.
+++++
3= Grand Opening of Rainbow Bar & Grill across from the Hard
Rock Hotel. It’s an L.A. rock ‘n’ roll dance hall.
+++++
3-4= Robert Schimmel - Monte Carlo.
3-5= Summer Home Lifestyle Show - Cashman Center.
3-5= International Gem & Jewelry Show - as Vegas Convention
Center: ttp://www.intergem.net/ps-shows-main.html
3-5= Bead Show - Palace Station. Info: ttp://www.beadshow.
com/shows/index.htm
3-5= The Great American Dessert Expo - Las Vegas Convention
Center.
4= The Beach Boys - Flamingo.
4= Huey Lewis & The News - Mandalay Bay Beach.
6-7= Celine Dion Biography on [A&E TV].
7= ZZ Top - Flamingo.
8-10= ZZ Top - Las Vegas Hilton.
9= LV Chamber of Commerce Business Expo-Cashman Center.
9= New air service begins from Myrtle Beach, South Carolina Hooters Air.
9-11= ZZ Top - Las Vegas Hilton.
9-12=Frankie Avalon/Bobby Rydell-Orleans.
9-13= Dennis Miller - MGM Grand.
10= AFL ArenaBattle - Orleans Arena.
10= Arena Bowl Party-even Nghtclub. Starts at 10 p.m.
10= Opening of new exhibit: “The Impressionist Landscape from
Corot to van Gogh” - Bellagio Gallery of Fine Art.
10-11= Jerry Seinfeld - Caesars Palace.
10-11= George Benson - Golden Nugget.
10-11= Kenny Chesney - Mandalay Bay.
10-11= Jay Leno - Mirage.
10-12= Trent Carlini - Suncoast.
10-18= Cine Vegas Film Festival - Palms: http://www.cinevegas.
com/
11= Maroon 5 - MGM Grand.
11= Hollywood Comedy Tour - Palms.
11= World Environment Day - Red Rock Canyon:
ww.getoutdoorsnevada.org
12= Sum 41 - Mandalay Bay House of Blues.
12= ArenaBowl XIX - Thomas & Mack Center.
12-14= L.V. Magic Conference - Palace Station. Info.: http://
www.lvmi.net/index2.htm
14-18=Wayne Newton - Las Vegas Hilton.
14-19= Neil Sedaka - The Orleans.
14-29= Howie Mandel - MGM Grand.
16= Steel Pulse - Palms.
16-18= Wayne Newton - Las Vegas Hilton.
17=Reba McEntire - Mandalay Bay.
17= Air service begins from Monterey, CA - America West.
17-18= Jay Leno - Mirage.
18= REO Speedwagon - Green Valley Ranch.
18= ‘70s Soul Jam with the Stylistics, The Chi-Lites, The Delfonics,
The Persuaders - Texas Station.
19= Father’s Day.
23= The Wallflowers - House of Blues.
23-26=Ringling Bros. Circus - Orleans Arena.
24= Air service starts from McAllen, TX- Allegiant Air.
24= “Death by Chocolate” play - Lawry’s Restaurant.
24-25= Wayne Brady -The Mirage.
25= Tony Hawk¹s Boom Boom Huckjam - Mandalay Bay Events
Center.
25= Spin Doctors - Silverton.
25-26= Beauty, Health & Fitness Expo - Cashman Center.
26= Wrestling. WWE Vengeance - Thomas & Mack.
28-July 2= Frankie Valli - Flamingo.
29-July 3=Professional darts tournament - MGM Grand: http://
www.planetdarts.co.uk/index.asp?Nv=2&lid=-1&lname=Las%20
Vegas%20Desert%20Classic
30-July 13= David Copperfield - MGM Grand.
+++++
June??= Sales center for Trump International Hotel & Tower Las
Vegas opens at the corner of Las Vegas Boulevard and Fashion
Show Drive.
+++++
June??= WORLD MARKET CENTER opens a $200 million, 10-story
building. It’s fully leased with 225 furniture, bedding, decorative
accessories, lighting and design companies, near downtown, on
the northwest corner of Bonneville and Grand Central Parkway.
East of theInterstate 15. Tel.: 1-888-416-8600. Internet site at:
http://www.lasvegasmarket.com The first scheduled furniture
market will be held July 25 to 29.
JULY, 2005
===========
1= Whitesnake - Mandalay Bay.
1= Salute to Bill Haley by The Comets-Rampart Casino.
1= Alter Ego - Suncoast.
1= Merle Haggard - Texas Station.
1-3= Chuck Mangione - Orleans.
2= Comedian Mike Epps - Aladdin.
2= Lyle Lovett - Mandalay Bay Beach.
2= Hootie and the Blowfish - Silverton.
2-3= Dwight Yoakam - Cannery.
2-3= Johnny Mathis - Las Vegas Hilton.
3= Loggins & Messina - Aladdin.
3= Billy Idol - Hard Rock.
====================================
Please e-mail errors, omissions and additions to:
billhere@VegasResource.com
THE PENNY PRESS, JUNE 2, 2005 PAGE 9
THE PENNY PRESS, JUNE 2, 2005 PAGE 10
Commentary: Albert Thomas
Hedge Fund Advertising
Have you seen all those big full page ads
for hedge funds in the Wall Street Journal, the
Financial Times, Investors Business Daily? You
haven’t. Maybe they are being drowned out by
the regular mutual funds who continually tell you
how great they are.
Shucks! I forgot. Hedge funds are not allowed
to advertise. I wonder why. Maybe they think that
their potential customers are too dumb to know
that hedge funds are a poor investment. Could
be. The Securities and Exchange Commission is
trying to protect investors – I think?
To be able to buy into a hedge fund the smallest investor must have a net worth of $1,000,000
and an income of more than $200,000 per year.
Maybe the SEC doesn’t think these folks are
bright enough to know a good thing when they
see it.
There are other groups that are major investors with the hedge funds. Literally billions of
dollars are invested by university endowments,
charitable trusts, state and corporate pension
plans. Could it be that they have a better return
than regular mutual funds? Naw! The media
would tell you wouldn’t they?
The media is there to report the facts. It is
hard to believe that just because a large portion
of their income is from advertising revenues of
mutual funds that they would be lax about this.
If you were a fund manager and your fund was
under performing and it was reported in the local
paper, TV, or radio would you pay them to carry
your advertising? You sure would not want to be
compared with performance of a hedge fund.
What is it that makes the difference of a standard mutual fund with a hedge fund? Why does
the smart money gravitate to them? One word.
Performance. A regular hedge fund manager is
paid on HOW MUCH money he has in his fund
and not on how much he makes for the investor.
The hedge fund manager is paid a percentage
of the PROFITS he makes for the investors. No
profit means no bonus so he better do the job or
he will be out of a job. Smart money moves. It
moves to where the profit is being made.
The SEC will not allow standard mutual fund
managers to be compensated in this manner.
Their claim is that it will be too dangerous for
the small investor. Hog wash! If a fund is losing
money the little guy should be selling his current
funds like the smart money and finding a better
performing fund. None of the media recommend
this to the little guy.
My guess is there are enough intelligent fund
managers who would like to be paid for performance and would set up no-load funds to attract
investors. The SEC seems to think more of the
funds than they do of the smaller investors.
It is a shame you can’t check the advertising claims of standard mutual funds against the
returns of hedge funds.
AL THOMAS
Al Thomas’ best selling book, “If It Doesn’t Go
Up, Don’t Buy It!” has helped thousands of
people make money and keep their profits with his
simple 2-step method. Read the first chapter and
receive his market letter for 3 months at www.
mutualfundmagic.com and discover why he’s the
man that Wall Street does not want you to know.
THE PENNY PRESS, JUNE 2, 2005 PAGE 11
Commentary: Diane Grassi
U.S. Government To Help Fund
Hospital Care For Illegal Aliens
On May 10, 2005 the Bush administration announced the specifics relating to new funding for hospitals and doctors who provide free emergency
medical care to illegal aliens. The amount of reimbursement will total $1
billion dollars until September 2008 and is meant to stave the continual
closings of hospitals predominant in California and other border states.
The mainstream press did not comprehensively report on this legislation
which was part of the Medicare Modernization Act of 2003, which establishes prescription drug coverage for Medicare recipients. The funding of
medical care for illegals has nothing to do with the Medicare program but
was an amendment to the bill which was signed into law on December 8,
2003 by President Bush.
There will be controversy following such funding, both from those who
support it and from those who do not. Ultimately, the American taxpayers
will bear the brunt of the payments, and while up to now such costs have
gone unacknowledged by the federal government, individual states had the
full responsibility of all costs for illegal aliens seeking medical care by way
of the emergency room. On the positive side, the federal government must
now recognize that this is a federal government problem. Lack of enforcement of immigration law has landed the United States in this situation,
which has caused the closure of 84 hospitals in California over the past
several years, with nine more closing in 2004. Arizona has also been badly
hit, predominantly by the Mexican population which does not necessarily
even stay in the U.S., but merely comes across the U.S. border to access
free medical care and then return to Mexico, sometimes in U.S. provided
ambulances.
Steve Escoboza, spokesman for the Healthcare Association of San Diego
and Imperial Counties agrees that “at least the federal government has recognized this burden, and it’s a significant movement in the right direction.”
But Ann Pumpian, CEO of Sharp Healthcare claims “it isn’t coming close
to covering the costs of services we provide. San Diego County alone has
given illegals more than $100 million every year.” So the problem looms
large as the entirety of California will only receive a total of $70 million
with San Diego only expecting to get 15% or about $10 million per year
of the total amount. According to Jan Emerson, a spokeswoman for the
California Hospital Association, “California hospitals provide $500 million
in emergency care for illegal immigrants, seven times the amount of the federal grant.” But Emerson did also say, “This is a highly symbolic first step.
The federal government is finally acknowledging that it has a responsibility
to pay for heath care provided for illegal immigrants.”
With the largest allocation going to California in the amount of $70 million per fiscal year, Texas was next with $46 million followed by Arizona
with $45 million; New York with $12 million; Illinois with $10 million;
Florida at $8.7 million and New Mexico with $5 million. Senator Kay
Bailey Hutchison, (R-TX) one of few in the Congress speaking out on
immigration reform said she “was pleased that the money was being made
available,” even as she called for “new efforts to secure our borders.”
Under scrutiny is the question of hospitals’ requirement to ask patients
for certain documents relating to payment. But according to the Centers for
Medicare & Medicaid administrator, Mark McClellan, “a hospital should
not directly ask a patient if he or she is an undocumented alien.” Hospitals
may ask “indirect questions” such as if the person is eligible for Medicaid;
whether the person reported a foreign place of birth; whether the person has
a foreign passport, foreign drivers license or foreign ID.
Hospitals may not directly ask patients if they are U.S. citizens or legal
immigrants. In the event they are enrolled in Medicaid, the hospital will bill
Medicaid. Hospitals are also required to make photocopies of documents
indicating a patient’s immigration status, kept on hand for possible future
review by federal auditors. Additionally, McClellan said the department
“would not provide information about illegal immigrants to law enforcement officials for use in routine civil immigration proceedings.” In rare
cases however the information could be used in criminal investigations. But
Cecilia Munoz, a vice president for the National Council of La Raza, said
that the new requirements “were an improvement over the original proposal
but would still discourage some immigrants from seeking treatment.”
Prior to hospitals being awarded reimbursement under the new program,
they must first exhaust the possibility of payment from other sources such
as Medicaid and private insurance carriers. This will create another obstacle
for hospital administrators as they must be very discreet and sensitive to the
questions they ask of potential foreign nationals.
In question will be the vehicle used to reimburse hospitals and whether
or not this addresses the underlying problem that U.S. taxpayers are ultimately paying for these costs in one way or another. Initially this program
will free up some resources for individual state budgets, however the health
care coverage of illegal aliens still remains an unresolved problem for the
solvency of our health care infrastructure. Whether it is through taxation or
higher insurance premiums and co-pays for the insured, the effort by the
government thus far appears to be a gesture of good will, yet we will have
to wait and see whether or not the program will be successful for the various
hospital institutions and will propel more outcry for border reinforcement.
DIANE GRASSI
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THE PENNY PRESS, JUNE 2, 2005 PAGE 12
Commentary: Joyce Meyer
Love Is A
Choice—Do It On
Purpose!
We hear a lot of talk today about
love—people just love to eat at their
favorite restaurant, or they love their
new clothes, their new car, or their
new house. This kind of love, however, is superficial and nothing like
the love we should have for our
husbands or wives, our children,
and our extended family and friends.
Nor is it the kind of Christian love
that we are to exemplify in our lives
toward everyone.
Love is more than just a word we
use to describe how we feel about
things we really like and enjoy.
And it is more than just talk, saying the words someone wants to
hear. It is sincere and enduring—not
here today and gone tomorrow. It is
patient and kind…and much more.
First Corinthians 13, often referred
to as the love chapter, gives a full
description of real love. It is good to
read that chapter from time to time
and remind ourselves of what love
is and how it acts.
Philippians 1:9-10 also gives us
important information about love.
Paul says, And this I pray: That your
love may abound yet more and more
and extend to its fullest development
in knowledge…. So that you may
surely learn to sense what is vital,
and approve and prize what is excellent and of real value….
Once we learn what real love is,
then we must understand that love is
a choice—it doesn’t just happen. In
John 13:34, Jesus says, I give you a
new commandment: that you should
love one another. Just as I have
loved you, so you too should love
one another. Although this is a commandment, Jesus says it is something we should do, which indicates
there is a choice involved.
The Bible emphasizes that our
love needs to grow, and that we
should learn to prize what is excellent and of real value. As Christians,
we must choose a more excellent
way to live—and we do that by letting our love grow and display itself
in greater measure every day of our
lives. We cannot be excellent people
and not have a strong love walk.
Colossians 3:12-14 talks about
putting on behavior. Putting on
means to make a choice, to do something on purpose. You can’t stand in
your closet and expect your clothes
to jump on your body—you have to
choose what you’re going to wear
and, on purpose, put it on. The Bible
also talks about putting on the new
nature of Christ, and putting on love,
mercy, kindness, and tenderness. All
of these are things we must choose
to do on purpose, even in difficult
circumstances. But above all that we
do, the number-one thing we must
put on is love.
You don’t just love because
you feel like it—love is not a feeling. It is a decision that you make
to treat people according to God’s
instructions, whether you feel like
it or not. Sometimes we feel like it
and sometimes we don’t, but our
love—or lack of it—always shows
up in our behavior. But lacking the
feeling of love does not relieve us
of the responsibility of loving. It
is a behavior that we must choose
because God told us to do it, and
because it honors and glorifies Him.
I encourage you to remember
that, as a Christian, you are chosen by God. As His representative,
you have the responsibility and the
privilege of choosing to exhibit His
love in many situations every day.
Loving isn’t always easy—you will
sometimes have to make yourself do
it on purpose. But when you make
the excellent choice of walking in
love, you will discover that the benefits are well worth the effort.
JOYCE MEYER
For more on this topic, you may order
Joyce’s six-part series, Walking in Love,
which is available by calling 1-800-7279673 or online at www.joycemeyer.org.
THE PENNY PRESS, JUNE 2, 2005 PAGE 13
Speed Trucks Return To Bullring At LVMS Saturday
By TARA BARKIS
Clark was penalized for violating
Rule 6-1.3 “LVMS will not tolerate
Special To The Penny Press
profanity, discourteous gestures or
The ASA Speed Trucks Challenge behavior deemed detrimental to the
will return this Saturday during the betterment of the sport” and 6-1.3 3
Summer Kickoff at the Bullring at “Intentional car to car contact with
Las Vegas Motor Speedway as the another competitor under caution or
best local racers compete in the after the completion of an event,” in
ninth round of the NASCAR Dodge the 2005 Bullring Rule Book.
Weekly Series.
Official results from Bullring,
Local drivers Alex Haase, Matt
May 28
Jaskol and Joey Mogar will go headto-head during the 75-lap feature.
Joining the Speed Trucks Saturday
night will be the Late Models
(40 laps), IMCA Modifieds (30
laps), Chargers (30 laps), Thunder
Roadsters (25 laps) and Bandoleros
(10 laps).
A new schedule has been introduced to accommodate race fans
during the during the warmer summer months. Pit gates will open at
3:30 p.m. Spectator gates open at
5 p.m. Qualifying is scheduled to
begin at 6 p.m. with opening ceremonies taking place at 7 p.m.
Young fans (5-12 years of age)
may sign up for the Pit Crew Club
for $5 and have their picture taken for
their membership card. Membership
kits include free admission to selected races, Pit Boss memorabilia, and
a few surprises. They also will have
the chance to be crew chief for the
night.
Adult general admission is
$12. Local adults are admitted for
$10 with a valid Nevada license.
Admission for senior citizens, military personnel with ID and college
students with ID is $8. Children
6-12 are $5 and kids five and under
are free. A Family Four Pack may
be purchased for $24. The Crazy 8s
package is also available this season
which offers race fans eight tickets
for $8 each.
In other Bullring news, it
was announced Wednesday that
NASCAR Super Late Model driver
Spencer Clark has been fined $250
and suspended from the Bullring at
Las Vegas Motor Speedway until
June 10, 2005.
Clark’s fine and suspension is a
result of an incident that occurred
following the NASCAR Super Late
Model feature event last Saturday
night at the Bullring.
Super Late Models Main Event No. 1 Results (50 laps): 1. Spencer
Clark, 2. Mike Cofer, 3. Jimmy Parker, Jr., 4. Tom Lovelady, 5. Steve
Anderson, 6. Scott Gafforini, 7. Taylor Barton, 8. David Anderson,
9. Nick Parmelee, 10. Travis Swalwell, 11. Rich Attasani, 12. Thane
Alderman, 13. Dennis Rock, Jr., 14. Justin Johnson, 15. Bob Barker,
16. Richard Bridges, 17. Kyle Cline, 18. Tony Clark, 19. Billy Mitchell,
20. Cindy Clark, 21. Ray Hooper, 22. Guy Griebel, 23. Bobby Collaster.
Super Late Models Main Event No. 2 Results (50 laps): 1. Nick
Parmelee, 2. David Anderson, 3. Taylor Barton, 4. Thane Alderman, 5.
Ray Hooper, 6. Guy Griebel, 7. Jimmy Parker, Jr., 8. Travis Swalwell, 9.
Scott Gafforini, 10. Bob Barker, 11. Kyle Cline, 12. Tony Clark, 13. Justin
Johnson, 14. Spencer Clark, 15. Cindy Clark, 16. Mike Cofer, 17. Rich
Attasani, 18. Dennis Rock, Jr., 19. Billy Mitchell, 20. Steve Anderson,
21. Tom Lovelady, 22. Bobby Collaster.Chargers Main Event Results
(30 laps): 1. Justin Good, 2. Darrin Rollins, 3. Brian Matzke, 4. Joe
Deguevara, 5. Jim Petrie, 6. Phil Goodwin, 7. Dale Ward, 8. Bill Mullen,
9. Mike Heck, 10. Nate Giesen, 11. Jerry Gentry, 12. John Dumm, 13.
John Della-Penna, 14. Steve Simmons, 15. Steve Dessormeau. Legends
Masters Main Event Results (25 laps): 1. Rick Rogas, 2. Jim Galza, 3.
Larry Toddy, 4. Kurt Minnick, 5. Ken Neff, 6. Robby Guevara, 7. B.J.
Bollman, 8. Fletcher Hammond.
Legends Pro Main Event Results (25 laps): 1. Dustin Ash, 2. Derek
Frohlich, 3. Josh Gross. Legends Semi-Pro Main Event Results (25
laps): 1. Jonathan Mawhinney, 2. Jeff Craig, 3. Rich Lombardo, 4.
Chris Weilenmann, 5. Matt Williams, 6. Phillip Morrissey, 7. Brandy
Radke, 8. Chris Shorten, 9. Johnny Morrissey, 10. Bear Resnowiecky,
11. Keith Wellman, 12. John Hans, 13. Eric Chelberg, 14. Mike
Anderson.IMCA Modifieds Main Event Results (30 laps): 1.
Randall Boren, 2. Larry Gerchman, 3. Aaron McMorran, 4. Craig
Stewart, 5. David Gerchman, 6. Sebastian Couture, 7. Don Williams,
8. Chris Gerchman, 9. Michael Morrisey, 10. Errol Sharron, 11. C.J.
Sherkenbach, 12. Dennis Lovelady, 13. Dow Woerner, 14. Matt Johnson.
Bullring Bombers Main Event Results (40 laps): 1. Gary Wyatt, 2.
Vinnie Raucci, 3. Matt Cunningham, 4. Tom Gallagher, 5. Wade Pearson,
6. Jim Larson, 7. Rick Lamb, 8. Brent Leonard, 9. Anthony Finley, 10.
Scott Grossardt, 11. Warren Harris, 12. Joe Crouch, 13. Trevor Colons,
14. Dan Gardner, 15. Russell Ward, 16. Brent Rawlings, 17. Chris Dillon,
18. Chad Burton, 19. Chris Gray, 20. Ken Marr, 21. J.J. Nunn, 22. Dyne
Beaver.
June 30, 2005
THE PENNY PRESS, JUNE 2, 2005 PAGE 14
THE PENNY PRESS, JUNE 2, 2005 PAGE 15
Pet Of The Week
Adopt This Pet !
Rusty is a 1 1/2 year
old
neytered
Corgi/
Dachshund mix. Rusty
was raised as a lap dog.
He loves attention, and
loves whoever will give
him the attention. Rusty
loves kids, and other
dogs. He enjoys play
time, and being walked.
Rusty is housebroken
and current on yearly
vaccinations. Rusty is a
great little guy with great
looks too!
If you are looking for a pet we will do our best to find you a pet that
fits your needs and you will fit theirs.
This is just one of the pets awaiting a loving home.To inquire about
a certain pet you can e-mail us at: adoptions@animaladoptionsltd.org
or call 361-2484. Also, we need kitty litter and food donations.
Betty Honn founded Southern Nevada’s first no-kill, non-profit
animal sanctuary in 1968. Since then, volunteers, contributors and
patrons have made our daily operations possible.
Betty passed away in 1997, but not before saving countless
thousands of animals from needless euthanasia. Her daughter, Teresa
now continues the work, and is committed to fulfilling her mother’s
vision.For more than 30 years, from kittens to Kodiaks, Betty Honn’s
Animal Adoptions, Ltd. has provided refuge for animals.
When You're At The
Speedway, Eat Where
The Pros Eat!
The FAST LANE Cafe
Footsteps Away From The Speedway
6825 Speedway Blvd
702-651-9977
WE CATER
SOUVENIRS, DIE CAST,
COLLECTIBLES
13" Italian Sub $5.96
13" French Dip Sub $5.96
3 Egg Breakfast $4.96
THE PENNY PRESS, JUNE 2, 2005 PAGE 16