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CBO: Large Credit Unions Are Like Banks
The bank/credit union fight seems to be warming up again, at least on the national level. The American Bankers Association has released the following statement:
“Taxing credit unions with more than $10 million in assets in the same manner as savings banks is one of more than 250 budget options the Congressional Budget Office presented in a report released this week. The CBO estimated that the option would generate $21.1 billion in additional revenue over the next 10 years. ‘Originally, the retained earnings of credit unions, savings and loans, and mutual savings banks were all exempt from taxation,’ the report said. ‘In 1951 ... lawmakers eliminated the exemptions for savings and loans and mutual savings banks on the grounds that those institutions were similar to profit-seeking corporations. Since then, large credit unions have come to resemble other thrift institutions.’ The report also said ‘[l]arge credit unions ... now serve the general public and provide many of the services offered by savings and loans and mutual savings banks -- including mortgages and car loans, access to automatic tellers, credit cards, individual retirement accounts and discount brokerage services.’”
The CBO’s sentiment on large credit unions is the same as in the resolution to Congress (HJR1) passed by the Utah Legislature a few years ago.
Site Consultants Coming to Utah
The Economic Development Corporation of Utah (EDCUTAH) is hosting a site consultant event at Deer Valley this weekend. According to the latest EDCUTAH newsletter, over the past 10 years nearly 90 percent of the high-level, high-paying business relocations that have come to Utah have originated through site consultants.
UW Thanks Legislature
The United Way of Salt Lake (UWSL) has posted its bi-weekly newsletter online. In it UWSL expresses thanks to the Legislature and the many groups and individuals involved in public advocacy. "This session was a tremendous example of collaboration and partnership among many organizations and is evidence that common ground can be found among business and social service interests. It is also evidence that individual voices matter and can make a difference in the legislative process," the newsletter says.
Washington Watch
The Hatch Report
Sens. Orrin Hatch and Dianne Feinstein reintroduce legislation that would "prohibit the cloning of a human being, while ensuring that potentially life-saving medical research is allowed to continue. The Human Cloning Ban and Stem Cell Protection Act of 2007 would allow stem cell research ... to proceed under strfict oversight from the federal government. However, the bill would draw a distinct line between this promising research and human reproductive cloning, which it bans outright" (see press release); Hatch speaks "on the importance of enforcing antitrust laws at a hearing of the Senate Subcommittee on Antitrust, Competition Policy and Consumer Rights" (press release); in a letter to the Senate Budget Committee, Hatch expresses opposition "to funding cuts for Community Development Block Grants (CDBG), which provide funds to state and local governments for low-income housing, public improvements, and economic development projects" (press release); the Association for Career and Technical Education recognizes Hatch as one of its 2007 Policy Makers of the Year (press release).
Taxpayers Newsletter
The Utah Taxpayers Association has posted its March newsletter. This month's edition analyzes the work of the '07 Legislature.
Today in Political History
March 9, 1945: Firebombing of Tokyo by U.S. forces: the leading B-29 bombers dropped their largest M-47 incendiaries as markers to lay out a precise grid over the city center. Then the rest of the bomber force flew methodically back and forth over the city, filling in the grids with dense clusters of smaller incendiaries, according to a carefully thought-out pattern that ensured nothing on the ground could escape unscathed. "We knew we were going to kill a lot of women and kids," Air Force Gen. Curtis LeMay later said. "Had to be done." (Source: perspicuity)
Wise Words
“If you want to understand your government, don't begin by reading the Constitution. (It conveys precious little of the flavor of today's statecraft.) Instead, read selected portions of the Washington telephone directory containing listings for all the organizations with titles beginning with the word National.”
-- George Will (Source: Quote Garden)
Political Quiz
Utah had both territorial and state governors. How many governors did Utah have as a territory?
Answer: 15 (Other than Brigham Young, can you name any?)
(Source: Wikipedia)
National Politics
Rudy’s Family Matters
Washington Post’s Howard Kurtz writes about whether Rudy Giuliani’s family life (which includes divorce and estranged children) is fair game for reporters to dig in to.
Lighter Side
Late Night Humor
David Letterman: “Top Signs You Have A Bad Stockbroker”: He’s unavailable whenever “General Hospital” is on; Invested your entire portfolio in JetBlue; Instead of Wall Street, he works at Wal-Mart; He shaves his head and goes into rehab; Keeps using the word Ga-zillion; A few years back told Martha, “Sure, it’s legal.”
Jay Leno: Kind of an embarrassing situation for Al Gore with his whole global warming thing. Turns out his Tennessee home has been using 20 times the energy as the average household. To be fair, it is still not as much energy as John Edwards’ blow-dryer is using. ... That is an inconvenient truth. He lives in a mansion in Tennessee that has eight bathrooms. And three of them are indoors. ... Actually, you know why he is using so much energy. Have you seen Al lately? I think he’s been keeping that refrigerator door open a little too long. ... A state senator in Florida wants to outlaw the term “illegal alien” because it’s insensitive. They want to go with the more politically correct term, “WalMart-ian.”... Prince Charles says he wants to ban McDonald’s to teach people that excess is bad. Who better to teach people that excess is bad than a guy who lives in a giant castle?
Casual Friday
Fishing Report
Walleye Usher in Spring Fishing
Walleye provide some of the first good open-water fishing of spring, and that action is now starting at Willard Bay and Utah Lake. Fishing is slow right now but will pick up during the next couple weeks as the waters warm. Walleye fishing is usually good at those two waters during late March and early April.
Lake Powell is also starting to show signs of life. Striped bass, smallmouth and largemouth become active in late March, and fishing for those species becomes red hot during April and May.
Fly fishermen start to enjoy consistent success on the Green, Provo, and other streams during late March. April brings some of the most prolific hatches of the year.
(Dave Webb provided the information above. He is now updating a weekly fishing report that attempts to forecast conditions for the immediate future. He also links to other reports that contain useful information.)
Outdoors Report
-- Enjoy spring snowmobiling in the Tribune
-- Morning News on Farmington Bay’s waterfowl home makeovers and the history of a Utah invented watercraft that aids those efforts
-- Tribune outlines new legislation that effects outdoor recreation
-- Find out about upcoming events in the Morning News’ Outdoor Notes
-- Check out the Tribune’s Outdoor Notebook and Recreation Roundup for sports and recreation activities this week
-- For the latest wildlife news and information and the fishing report visit the DWR website
New Films
-- 300: Rotten Tomatoes
-- The Ultimate Gift: Rotten Tomatoes
Concerts
-- A Celtic Celebration, Friday, Peery's Egyptian Theatre
-- National Association of Teachers of Singing Honors recital, Friday, 7:30 p.m., Temple Square Assembly Hall, free
-- Salt Lake Men’s Choir Spring Fling, Friday, 7:30 p.m., Rose Wagner Performing Arts Center
-- Shanahy, Celtic music, Friday, 7:30 p.m., Vieve Gore Concert Hall, Westminster College, 1840 S. 1300 East, $12 (832-2457)
-- National Amateur DanceSport Championships, Friday and Saturday, times vary, Marriott Center, Brigham Young University
-- Utah Flute Association Flute Festival, Friday, 7:30 p.m., and Saturday, 9 a.m. to 5 p.m., Gardner Hall, U., $7 (at the door or utahflute.org)
-- Utah Symphony with Hilary Hahn, Friday and Saturday, 8 p.m., Abravanel Hall
-- “D Is for Dance,” Repertory Dance Theatre, Saturday, 11 a.m., Rose Wagner Performing Arts Center
-- Riverton Metropolitan Orchestra, Saturday, 7:30 p.m., Temple Square Assembly Hall, free
Theater
-- “A Doorway ...” through March 9, Fort Douglas Post Theatre
-- “Accidental Death of an Anarchist” through March 11, Studio 115,U.
-- “Arsenic and Old Lace” through March 10, Art City Playhouse
-- “The Comedy of Errors” through March 10, Terrace Plaza Playhouse
-- “Hello, Dolly” through March 10, Center Street Musical
Theatre
-- “The Hobbit” through March 10, Academy Theatre Company
-- “Pirates of Penzance” through March 10, Empress Theatre
-- “The Who's Tommy” through March 10, Egyptian Theatre
-- “Distant Music” through March 17, Utah Contemporary Theatre
-- “Pot Pie the Sailor Man” through March 17, Off Broadway Theatre
-- “Lucia di Lamermoor” through March 18, Capitol Theatre
-- “Butch Cassidy & the Sunburnt Kid” through March 24, Desert Star Cabaret Theatre
-- “Damn Yankees” through March 24, Heritage Theatre
-- “The Musical Comedy Murders of 1940” through March 24, StageRight TheaterCompany
-- “The Sound of Music” through March 24, Old Barn Community Theatre
-- “Little Women, the Musical” through April 7, Hale Centre Theatre
-- “Lucky Stiff” through April 14, Hale Center Theater Orem
Museum Exhibits
-- Modern Utah Exhibition through March 10, New Narrative: Warhol, Stella, Marden, Fitzpatrick through March 17, Ascension Exhibition through March 17, Salt Lake Art Center
-- Nathan Thomas Jones: Scattered Shadows and Collected Light Exhibition through March 11, Lesleigh: Paris — City of Light Exhibition through March 11, Kimball Art Center, Park City
-- The Quiet Landscapes of William B. Post Exhibition through May 28, Museum of Art, Brigham Young University
Et Cetera
-- Mysteries of the Deep, Friday and Saturday, Living Planet Aquarium
-- Snowshoe with a Naturalist, Cottonwood Canyons Foundation, Saturdays and Sundays through March 25, free, reservations required
-- Utah Fiber Celebration, through April 11, Utah Cultural Celebration Center |
