The Kensington Review

29 August 2008


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Latest Commentary: Volume VII, Number 103
Obama Adds Concrete to Campaign Structure -- In front of 84,000 supporters, Barack Hussein Obama accepted the Democratic Party’s nomination for President of the United States last night. While the moment was historic, a black man becoming a nominee on the 45th anniversary of Dr. King’s “I Have a Dream” speech, Senator Obama’s words added something to his campaign about which his detractors have complained for months. He got specific.

Chinese Auditor General Says $46 Billion Yuan Misappropriated -- This journal has little affection for the Communist Party of China, but Auditor General Liu Jiayi is one of the good guys. The BBC says in his latest report to the puppet parliament, “an audit of more than 50 government departments and their subsidiaries had discovered that 4.5 billion yuan ($660 million) had been misused or embezzled in 2007. The report also found ‘managerial irregularities’ in the use of another 41.7 billion yuan ($6 billion) of public money.” Arrests have been made.

SEC Proposes America Adopt International Accounting Standards -- The Securities and Exchange Commission has proposed a timetable for American companies to adopt international accounting standards. Currently, the US uses what are called “Generally Accepted Accounting Principles” [GAAP]. In 2010, American companies would have the option of using International Financial Reporting Standards [IFRS] rather than GAAP, and in 2011, the SEC would decide whether to make them mandatory by 2014.

Baseball Adopts Instant Replay Umpiring -- Major League Baseball has surrendered to technology at last. As of last night, umpires can consult video replays to judge whether a potential home run cleared the fence, was interfered with by a fan or was fair. The change is a small one, but it could be the thin end of the wedge that undermines human umpires and alters the game permanently.

© 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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