The Kensington Review

31 July 2006

Latest Commentary: Volume V, Number 90
House OKs Minimum Wage Hike with Estate Tax Cut -- The House of Representatives decided that the working poor in America deserve better than $5.15 an hour. It has passed a bill raising the minimum wage to $7.25 an hour to be phased in over the next three years. In the same bill is a provision to cut the estate tax, which will cost the Treasury $268 billion over the next 10 years. The Senate seems more fiscally responsible, wanting only an increase in the minimum wage.

Qana Massacre Shows Why Cease-Fire Must Come First -- The White House has spent the last several days explaining to the world why it is important to resolve the underlying issues surrounding the Israeli-Hezbollah conflict before a cease-fire can go into effect. This is the same kind of thinking that left the administration without an occupation plan for Iraq. The bombing of about 60 Lebanese civilians in the town of Qana shows why the cease-fire must precede any resolution of the conflict.

Wal-Mart Leaves Germany -- When Wal-Mart comes to town, the story goes, all the other retailers head for the hills. Apparently, this story doesnít translate into German. Wal-Mart has taken a $1 billion pre-tax loss to leave Germany. The company is selling its 85 stores in the Bundesrepublik to its rival Metro AG. Coming on the heels of a similar departure from South Korea in May, it appears that the Wal-Mart-ization of global retail is not yet a done deal.

Brewers add Chorizo to Sausage Race between Innings -- The Milwaukee Brewers baseball team is not the next baseball dynasty. Operating in one of Major League Baseballís smallest markets, they are, nonetheless, consistently profitable (thanks to revenue sharing). They also keep bottoms in seats with non-baseball entertainment which has been the bane of the game in recent years. This week-end, for example, they added a fifth racer dressed up like a sausage, this time a chorizo. Baseball is degenerating into a three-ring circus.

© Copyright 2006 by The Kensington Review, Jeff Myhre, PhD, Editor. No part of this publication may be reproduced without written consent. Produced using Fedora Linux.

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