The Kensington Review

7 July 2008


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Latest Commentary: Volume VII, Number 81
GAO Says Pentagon Programs’ Costs Soaring -- The Government Accountability Office has issued a new report that says military cost overruns and over-commitment by the Pentagon will cost taxpayers. The GAO says, “The Department of Defense [DOD] expects the cost to develop and procure the major weapon systems in its current portfolio to total $1.6 trillion. With increased competition for funding within DOD and across the federal government, effectively managing these acquisitions is critical. Yet DOD programs too often experience poor outcomes--like increased costs and delayed fielding of needed capabilities to the warfighter.” Translation: lotsa of buck but not many bangs.

G-8 Makes No Progress on Africa -- The G-8 Summit in Sapporo, Hokkaido, Japan, is George Bush’s last such event as president. It looks like he will be leaving office without making much headway in getting the G-8 to act on Africa. The Zimbabwe mess is no closer to resolution, and the rich countries seem to be backing away from their 2005 pledge to double aid to Africa by 2010. Perhaps as the three-day meeting moves along, they will deal with climate change more effectively than this.

Coke Settles Lawsuit for $137.5 Million -- Coca Cola has settled a class action lawsuit by some of its institutional investors. These investors claim, according to CNN, “certain material facts concerning Coca-Cola and the condition of its business and financial results were misrepresented and omitted from various public statements purportedly made by the defendants, causing the price of Coke stock to be inflated artificially.” As is typical with this kind of settlement, Coke’s management has denied any wrongdoing.

Torres Qualifies for Record Fifth Olympics -- Swimmer Dara Torres first represented the US at the 1984 Olympics in Los Angeles. Over the week-end, she qualified for her fifth Olympiad. She won the 100 meter freestyle on Friday, and she set an American record in the 50 meters on Sunday. At 41, she is twice as old as some of her teammates. Her competitive drive seems as sharp as ever; she said, “I can’t sit here and lie and say, ‘Oh, I’m just glad I’m going’. I want a medal.”

© Copyright 2008 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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