Hillary Clinton: Pro-green, pro-elite and anti-growth (WashingtonPost)
Hillary Clinton has never been the darling of the left when it comes to foreign policy. Her support for the Iraq war (before she was against it) likely cost her the presidential nomination in 2008. She’s not been on the cutting edge of social issues either, trailing instead of leading on gay marriage. Even on health care she wasn’t, say, with former Vermont governor Howard Dean; instead she was an advocate of the individual mandate and a plan that became the essence of Obamacare. And yet she is heading into a Democratic presidential primary in 2016 as the “inevitable,” albeit stodgy, nominee. Like the president, she is now the defender of the status quo — no on school choice, no on entitlement reform, no on Obamacare modification. It is inevitable for the candidate whose party holds the White House to wind up either the beneficiary (George H.W. Bush) or the victim (Sen. John McCain) of the incumbent’s current performance. She is not, needless to say, a fresh face nor a purveyor of fresh ideas.
Cash burn continues at Sears Holdings (BNN)
Sears Holdings Corporation (NASDAQ:SHLD) has relied on controlling shareholder Edward Lampert for years to help fund its operations. Now the billionaire is cutting out a form of lending he’s provided since 2010 to the owner of its namesake retail chain and Kmart. Sears’s outstanding commercial paper — short-term debt used to fund day-to-day operations — fell on Feb. 1 to $9 million US, according to a March 18 regulatory filing, none of it held by Lampert’s hedge fund ESL Partners LP. A year earlier, the company that has reported operating losses for the past 12 quarters, had $345 million of the IOUs outstanding, $285 million of it to ESL.
New Orleans ordered to pay into firefighters’ pension fund (BenefitsPro)
The Louisiana Supreme Court has ruled that the city of New Orleans must pay $17.5 million for its 2012 share of the city fire department’s pension fund. The high court’s 4-2 ruling Friday upheld decisions last year by Civil District Judge Robin Giarrusso and a state appeal court demanding the city pay its 2012 share to the New Orleans Fire Fighters Pension & Relief Fund. The decision leaves Mayor Mitch Landrieu’s administration with little choice but to pay the $17.5 million, which the mayor and the City Council did not account for in the 2014 city budget.
Jim Rogers Wants To Put All His Money Into This Country. Is It The Next China? (Forbes)
Forget diversification. Jim Rogers has identified the world’s next great investment opportunity, and in a recent interview the famed guru said he is willing to put all his considerable fortune there. So where is the planet’s best place to commit cash? According to Rogers, it’s the Democratic People’s Republic of Korea. Yes, that’s the formal name of what the world knows more simply as North Korea. Rogers has also been talking about farming as a terrific investment in recent days. As he said at the end of last month to Simon Jack on BBC Radio 4’s “Today” show, “If you want to make a lot of money in the future—which many people do—you should learn to drive a tractor.”
Koch Brothers and George Soros Bankroll 2014 Midterms (GuardianLV)
The Koch brothers and George Soros continue to bankroll the upcoming 2014 midterm elections. Much has been made in recent years about the role of outside contributions, political action committees (PAC), and the individuals that finance them. The 2014 midterm elections look to continue this trend as powerful backers are already lining up on both sides of the political aisle to pour money into the election. The sources of this financing are many and diverse, but much of the attention and criticism this election cycle is falling on the Koch brothers and George Soros. Charles and David Koch are outspoken conservative businessmen and financiers. They are the founders and primary contributors to a conservative PAC called Americans for Prosperity (AFP).
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