Definitions Better Than Webster's: Part 19

SLUSH FUND:
"A fund (or something similar) that does not have a designated purpose. These types of funds are often illegal.

A good example would be a politician siphoning off money for side investments or to help friends." -From, Investopedia

Today's Fly Or Die Commerce Report: Closed Funds

According to Investopedia: "A mutual fund that has been closed- either temporarily or permanently- to new investors because the investment adviser has determined that the fund's asset base is getting too large to effectively execute its investing style.

Generally, current shareholders in a closed mutual fund are permitted to continue investing in the fund, but sometimes they are also be precluded from making additional investments.

A closed mutual fund should not be confused with a closed-end fund."

Elsie Law's Daily Dose Of The Law

According to Black's Law Dictionary Soil Bank is "A federal program of conservation, under which farmers are paid for not growing crops, or growing non-commercial vegetation, in order to preserve the quality of the soil, as well as to avoid surpluses.]

[THE $64 MILLION QUESTION OF THE DAY SIDEBAR: With all the starvation going on in the world, why would anyone want to prevent a "surplus" of food?]

Quote Of The Day

"Life without a purpose is a languid, drifting thing. Every day we ought to review our purpose, saying to ourselves, 'This day let me make a sound beginning.'" -Thomas Kempis

A Senseless Holiday Tragedy

Yesterday, part of an unruly crowd of shoppers inadvertently turned into a death squad. In one of the saddest stories of the year, a Queens' resident who was working at a Long Island Wal Mart as a greeter, was trampled to death. The tragedy occurred when a crowd surged forward while bum-rushing the retailer's doors to take advantage of a holiday shopping sale.

Yesterday's tragic event should change guidelines on how gathering shoppers are required to line up and wait for the opening of a store. The populous crowd that had coalesced in front of the Wal Mart where the death occurred were bunched up instead of standing in a single file line.

When rabid consumerism costs someone their life, it's time to reevaluate and change the direction that we are proceeding in as a society.

May the victim of this senseless death rest in peace. He will be in my prayers again tonight, along with his loved ones.

Today's Fly Or Die Commerce Report: Mutual Funds

According to Investopedia: "An investment vehicle that is made up of a pool of funds collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments and similar assets. Mutual funds are operated by money mangers, who invest the fund's capital and attempt to produce capital gains and income for the fund's investors. A mutual fund's portfolio is structured and maintained to match the investment objectives stated in its prospectus.

One of the main advantages of mutual funds is that they give small investors access to professionally managed, diversified portfolios of equities, bonds and other securities, which would be quite difficult (if not impossible) to create with a small amount of capital. Each shareholder participates proportionally in the gain or loss of the fund. Mutual fund units, or shares, are issued and can typically be purchased or redeemed as needed at the fund's current net asset value (NAV) per share, which is sometimes expressed as NAVPS."

Elsie Law's Daily Dose Of The Law

"Most prosecutors are elected officials. Many of them view their position as a stepping-stone to higher office. Their charging decisions are often, therefore, affected by public opinion or important support groups. For example, a prosecutor mat file charges on every shoplifting case, no matter how weak, to curry favor with local store owners who want to get the word out that shoplifters will be prosecuted. For similar reasons, a prosecutor may pursue otherwise weak prostitution charges to avoid alienating powerful civic groups. Deputy or assistant prosecutors may feel that appearing tough will help their careers- either within the prosecutor's office or later if they want to become judges. Experienced defense attorneys understand that prosecutors must sometimes be seen as taking a strong stand publicly, even though they may be willing to respond to weaknesses in individual cases at a later stage of the process." -From, "The Criminal Law Handbook" By: Bergman & Berman-Barrett

Quote Of The Day

"This country will not be a good place for any of us to live in unless we make it a good place for all of us to live in." -Theodore Roosevelt

Book Excerpt Of The Week: "King Of The Cats: The Life and Times Of Adam Clayton Powell Jr." By: Wil Haygood

Here are some more interesting snippets from, "King Of The Cats":

On Hazel Scott's (Adam Clayton Powell's 2nd wife) Run-In With Gangster Bugsy Siegel: "Scott was, however, one of the first Blacks to get work in Las Vegas, along with Sammy Davis Jr., and Nat King Cole. She took her pride to the desert. A gangster- at the time she didn't know he was a gangster- once spotted her in a Las Vegas lounge, relaxing. 'Get out of here,' the gangster said. Scott wouldn't budge. 'What are you going to do, kill me?' she replied...Bugsy Siegel left the proud woman alone.

On Jackie Robinson's Connection To New York Politics: "Jackie Robinson was a community affairs adviser to Rockefeller [New York's Republican Governor]."

On James Meredith's Connection To New York Politics: "Then, in what they concluded was a brilliant stroke, the Republicans decided to extend full backing to a young Columbia Law School student who was also an army veteran: James Meredith. Meredith represented both tragedy and hope in America. He had been forced to walk a gauntlet shielded by federal marshals at the University of Mississippi, which he integrated in 1962. Then, on June 6, 1966, while embarking on a voting rights march in the South, he was shot. Moving north, to New York City, Meredith entered Columbia Law School. He was a shy young man, and painfully aloof; the latter attribute gave acquaintances the feeling that he was either a stark visionary or had suffered unbearable mental stress which had permanently marked his personality.

'The Republican Party made me an offer: full support for the seat, in every way, everything,' recalled Meredith. Meeting in the comfort of swank hotel rooms with men sent by Rockefeller himself, Meredith found the overtures inviting; victory was made to look, and sound, quite possible. Access to the state's top Republicans gave him a heady feeling: 'I didn't deal with details, and I didn't deal with people who didn't matter.' He announced his candidacy.

Harlemites knew little of James Meredith; his presence had not been felt in the community. His currency as tragic hero meant nothing to local people, who saw him as a dupe of the Republicans...Pummeled with criticism from both Harlemites and national organizations such as SNCC and CORE that were sympathetic to Powell, Meredith was forced to retreat within a week's time to rethink his position."

On Columbia University's Early Gentrification Of Harlem: "When Columbia University began moving into Harlem, taking over buildings and dislocating the poor, in the spring of 1968, it ignited angry student demonstrations. Administration buildings were stormed; students were handcuffed and paraded off to jail. It was the kind of demonstration made for Powell's politics. He called meetings in his church basement and delivered a paper attacking the administration: 'The Massacre of Harlem by Columbia University.'"

Adam Clayton Powell & The New York Knicks: "The Knicks were a uniquely synchronized team, a team of players like Bill Bradley and Walt Frazier, Willis Reed and Dick Barnett. They were a group of individualists who had managed to put the concept of team first. And Adam Clayton Powell admired their savoir-faire. The attraction was mutual: the Knicks adopted Powell as their un-official chaplain. They played their home games at the Garden. It was the new Garden, as opposed to the old Garden, scene of so many of Powell's own triumphs- of the big war bond rallies, the freedom rallies, the rallies where his voice thundered, rallies that sent New Yorkers into the streets talking up his name. So there he would be after Knicks games, in the locker room, cigarette in hand, looking up at the huge bodies as if they were sequoia trees, patting individual players on the back. 'They treated him like a king,' said William Epps."

TODAY IS...

PLEASE PASS THIS ON! (EACH ONE TEACH ONE OR TWO!) THIS IS PHASE ONE ON HOW WE CAN HELP TO STRENGTHEN & EMPOWER OUR COMMUNITY:The 2008 not guilty verdict in the Sean Bell case evoked outrage, emotion, and debate. It is not an anomaly that the police officers involved in the Sean Bell slaying were acquitted of all charges on all counts in State Supreme Court. I could run out of ink printing the names of people who have been victimized by the inaptly named justice system.

The American justice system has been especially terroristic towards the African American community. Many community members can cite historic and personal accounts to prove this. Therefore, it would be foolhardy (at the least) to turn to a system that has methodically oppressed us, and request that they free us. We can only free ourselves through extreme discipline and intelligent planning.

As a community we have been too compliant with leaders who organize ineffective, delayed reactions. The only strategy that can save us in this last hour is one that calls for a collective code of conduct that will be conducive to improving the conditions of our community, and shifting the paradigm of how we are treated by outside entities. The first step of this code of conduct should be based on economics.

The old adage of “money talks,” still reigns true in the new millennium. Any political scientist worth his or her library card will tell you that: “Economic powerlessness equals political powerlessness,” and conversely “economic power equals political power.” This means that if we continue to allow our wealth to be extracted from our community, we will remain impotent.

The power of the collective “Black Dollar” is often discussed. However, that power has been left unchanneled. Today is the day to change that. A one-time boycott is not going to bring long-term change and respect to our community. Our community has launched boycotts before. Our success and ascension will be based on what we consistently do. For this reason, we should initiate “BUY BLACK FRIDAYS.”

BUY BLACK FRIDAYS is a small step towards our community acquiring power via controlling our economics. Every Friday, people who acknowledge the injustice and oppression that the African American community has been consistently subjected to should do one of the following:

Option #1: Spend $0 on Friday
Option #2: Spend no more than $10 on Friday
Option #3: Only Shop at Black Businesses on Friday
[PLEASE NOTE THAT THE ABOVE OPTIONS CAN & SHOULD BE EXERCISED ON A DAILY BASIS. However, we can all at the very least focus on Fridays. This way we can take a collective stand and build our collective discipline. Please remember that this is only Phase 1!].

To the people who are tempted to label “BUY BLACK FRIDAYS” as racist, I say this: In the big scheme of things, this is about right & wrong, justice & injustice. The African American community is a strong, proud community that has endured the brunt of America’s iron fist. We must stop the pounding. I feel that any fair-minded individual will concur, and join in.

ANY business that is privileged to enjoy the support of the African American community MUST return that support.

I thank you in advance for your effort and dedication.

-Elsie Law AKA Starface

Today's Fly Or Die Commerce Report

This morning, it was announced that the European Euro dropped versus the American dollar in European trading. Analysts are attributing this to a fall in inflation and a rise in unemployment in Europe.

The Euro is now 1.2866 dollars, as opposed to its previous 1.2904 dollars. The dollar is also 95.28 yen, slightly down from the previous 95.30 yen.

Elsie Law's Daily Dose Of The Law

"Though prosecutors technically have powerful discretion in their charging decisions, political realities are such that they often don't use it. Instead, if the police say charges should be brought, prosecutors charge. For a number of reasons, many prosecutors view their role as house counsel for the local police department. One reason is that prosecutors would be out of business without police. A second is that every time a prosecutor decides not to file charges, the prosecutor is implicitly, if not directly snubbing the arresting officer. The prosecutor is saying to the officer in effect, 'You didn't have enough evidence to make this arrest,' or 'You didn't follow correct procedures'- at least, that's what the officer often hears. Rather than have to play this role with the police, a prosecutor may go along with the officer's assessment and let the court and the defense worry about preventing any resulting injustice." -From, "The Criminal Law Handbook" By: Bergman & Berman-Barrett

Quote Of The Day

"In spite of everything, I still believe that people are really good at heart." -Anne Frank

Some Background On Harlem Hospital

"Conrad Vincent had been one of five Black doctors hired at Harlem Hospital in 1925, a move blessed by Tammany Hall, its eye always keenly on future elections. Harlem Hospital was the only hospital in New York City that catered to the medical needs of Blacks; the other hospitals were segregated. But as the years passed, Vincent, enthusiastic at the breakthrough in 1925, turned angry. The Black doctors were not given challenging assignments. As for the Black nurses, they were segregated within the confines of the hospital. Vincent, speaking on behalf of the Black staff and thereby taking the most risk, also complained that the care of Black patients at Harlem Hospital was abysmal. Having allowed vice to flourish in Harlem, from prostitution to bootlegging to numbers racketeering, New York officials could hardly have been surprised at the crimes that resulted. Murders, robberies, and crimes of passion were all played out in high, if sad, spirits in the Harlem newspapers. Crime and poverty deepened the community's health crisis. Syphilis rates in Harlem were nine times higher than in White Manhattan; the pneumonia and tuberculosis statistics were as alarming. Black babies had half the chance of surviving White babies.

Harlem Hospital, on the corner of 136th Street and Lenox Avenue, frightened many in the community. 'The butcher shop,' they sometimes called it; at other times, simply 'the morgue.' In the hospital during the Depression years, one saw patients sleeping in hallways, their groans eerily echoing down the corridors. For 200,000 Harlemites, there were 250 beds. 'When I take my life in my hands I want peace, quiet, and harmony,' one resident said. 'I don't want to be around the strife and turmoil of Harlem Hospital...'

In young Adam Clayton Powell Jr., Vincent found his ally- an uptown reformer, in fact a progressive, willing to march downtown and take on the opposition...

One day the doors to his office swung open and in walked young Adam Clayton Powell, coming to complain about conditions at Harlem Hospital. Ordinarily complaints from a Harlem minister- any Harlem minister- might not have rated so high on the Mayor's list of priorities, but this was an election year: Harlemites voted. O'Brien's tone toward Powell, however, was condescending. He treated the minister as a neophyte, as someone else who had come to extract promises from the Tammany table, and sent him on his way empty-handed. 'Go on back to Harlem, boy, and don't fan the flames,' he told him. It was all that Powell needed.

Back in Harlem, he swung the doors of his father's church wide open and waved in thousands of protesters, emotional protesters: the men and women who had been treated, who had relatives who had been treated, at Harlem Hospital; the men and women who had long criticized the service by the staff; the men and women who had long walked the corridors searching for a Black nurse, a Black doctor, and had been unable to find one; the men and women whose children has been born at the hospital. It was the only hospital there was. No matter what its administrators said, these people believed Conrad Vincent. They came to the Abyssinian church for a meeting- it was more protest than meeting- and they settled in the pews, and they listened to the young minister who had gone downtown to get answers and instead of getting answers had been treated condescendingly...

When Powell returned to City Hall the following month, he was not alone. There were fifteen hundred protesters with him." -From, "King Of The Cats" By: Wil Haygood

The History Of Thanksgiving

Here's some interesting information on Thanksgiving from the History Channel: "In 1621, the Plymouth colonists and Wampanoag Indians shared an autumn harvest feast which is acknowledged today as one of the first Thanksgiving celebrations in the colonies. This harvest meal has become a symbol of cooperation and interaction between English colonists and Native Americans.

Although this feast is considered by many to the very first Thanksgiving celebration, it was actually in keeping with a long tradition of celebrating the harvest and giving thanks for a successful bounty of crops.

Native American groups throughout the Americas, including the Pueblo, Cherokee, Creek and many others organized harvest festivals, ceremonial dances, and other celebrations of thanks for centuries before the arrival of Europeans in North America."

HAVE A PEACEFULLY BLESSED DAY! LOTS OF LOVE!

[SIDEBAR: I have the luxury of blogging right now, because I'm not cooking a thing! Yes, I'm one of those! Lol.]

Anecdote Of The Week: Do You Use Your Resources To Your Advantage?

"Once there was a Miser who sold all his possessions and, with the money, bought a great lump of gold. Once a day thereafter the Miser went to the garden, dug up his gold, and fondled it lovingly.

One of the Miser's workmen wondered why his master spent so much time in the garden. One day he hid behind a tree and soon discovered the secret of the hidden treasure.

That night, when the Miser was fast asleep, the workman crept into the garden and stole the lump of gold.

When the Miser found that his gold was gone, he tore his hair and cried aloud in despair. A neighbor came running to see what was the matter, and the grief-stricken Miser told her what had happened.

Then the neighbor said, 'Pray stop your weeping. Go and find a stone. Place the stone in the hole and imagine that it is your lump of gold. The stone will serve your purpose, for you never meant to use the gold anyway. To a miser, what he has is of no more use than what he has not.'" -From, "Aesop's Fables"

Today's Fly Or Die Commerce Report: Bank of America Takes Over Merrill Lynch

Yesterday, The Federal Reserve gave the green-light to Bank of America to purchase Merrill Lynch. This acquisition will make Bank of America, which was already the U.S.'s largest depository institution, even grander.

Elsie Law's Daily Dose Of The Law

"For suspects who are in custody, speedy trial laws typically require prosecutors to file charges, if at all, within 72 hours of arrest. Some jurisdictions require prosecutors to charge a suspect even sooner. For example, California requires that charges be filed within 48 hours. However, prosecutors' initial charging decisions are subject to change. For example, a prosecutor's final decision on charges may not be determined until after a preliminary hearing, which may take place more than a month after arrest." -From, "The Criminal Law Handbook" By: Bergman & Berman-Barrett

Quote Of The Day

"Nurture your mind with great thoughts, for you will never go any higher than you think." -Benjamin Disraeli

Video Of The Week

"...They forgot the instructions on how to live on earth..." We better figure it out with a quickness!

The Dangers Of Too Much Sugar

Over the years Americans intake of sugar has surged, greatly contributing to soaring rates of diabetes and obesity. Some sources have stated that on average, modern day Americans, consume about a pound and a half of sugar almost every couple of days. Comparatively, in the 1800s, the average American ingested less than 12 pounds of sugar on an annual basis. In 2008, we are now being warned that most of us need to be more vigilant about our sugar levels.

The New York Daily News released an article today, stating that Brooklyn residents are increasingly dying from diabetes. The article states that: "Diabetes deaths in Brooklyn have shot up 42% over the past 15 years...The hardest-hit neighborhood was southern Crown Heights, where the number of deaths increased by a whopping 141% from 1992 to 2006...The citywide increase in diabetes deaths for [that] period is 62%. In southern Crown Heights, 51.5 of every 100,000 residents die of diabetes. That number is 54.6 per 100,000 in Brownsville and 48.1 in Bed-Stuy."

In addition to diabetes, high-sugar intact also leads to mental deficiencies such as: a lack of concentration, and moodiness. More seriously, scientists are also looking into whether or not high-sugar levels contribute to the onslaught of Alzheimer's disease- which is an intense state of dementia.

As we round the corner to 2009, and begin to make New Year's resolutions, let's resolve to be more healthy. After watching Dick Gregory's video that I posted for last week's video of the week [CLICK HERE], I'm working on drinking more water.

Today's Fly Or Die Commerce Report: The Tale Of A Successful Investor

According to The Financial Guide Glossary: "Peter Lynch is known as the most successful growth investor ever. He managed Fidelity's Magellan Fund for thirteen years, turning $20 million into $14 billion- 2700% growth over the term. With such a large fund to manage (14,000 odd stocks!) Lynch couldn't focus exclusively on growth companies; but those were his big 'winners'- and he later tailored his experience to the private investor in his books (with John Rothchild) 'One Up on Wall Street' and 'Learn to Earn.'"

Elsie Law's Daily Dose Of The Law

"There are two different types of court cases- criminal and civil. A criminal case takes place when the government seeks to punish an individual for an act that has been classified as a crime by Congress or a state legislature. A civil case, on the other hand, usually has to do with a dispute over the rights and duties that individuals and organizations legally owe to each other.

Among the important differences between criminal and civil cases are these:
(1) In a criminal case a prosecutor, not the victim, institutes and controls the case. The prosecutor may file criminal charges even if the victim doesn't approve, or refuse to file criminal charges despite the victim's desire that criminal charges be filed. This method of initiating the case contrasts with civil cases, where the injured party is the one who starts the ball rolling- although if you view the prosecutor as a stand-in for the community injured by a crime, then there's not much difference.

(2) People convicted of crimes may pay a fine or be incarcerated or both. People held liable in civil cases may have to pay money damages or give up property, but do not go to jail or prison. (We don't have debtors' prisons for those who can't pay a civil judgment).

(3) In criminal cases, government-paid lawyers represent defendants who want but can't afford an attorney. Parties in civil cases, on the other hand, usually have to represent themselves or pay for their own lawyers.

(4) In criminal cases, the prosecutor has to prove a defendant's guilt beyond a reasonable doubt. In a civil case, the plaintiff only has to show by a preponderance of the evidence that the defendant is liable for damages.

(5) Defendants in criminal cases almost always are entitled to a jury trial. A party to a civil action is entitled to a jury trial in some types of cases, but not in others." -From, "The Criminal Law Handbook" By: Bergman & Berman-Barrett

Quote Of The Day

"Since changes are going on anyway, the great thing is to learn enough about them so that we will be able to lay hold of them and turn them in the direction of our desires. Conditions and events are neither to be fled from nor passively acquiesced in; they are to be utilized and directed." -John Dewey

Is This Really Real?...You've Got To Be Kidding Me!

New York's Governor, David Paterson, reportedly has a new Turkish rug in the Governor's mansion that has a five-figure price tag attached to it.

In the midst of an alleged multi-billion dollar city deficit, the Governor's executive mansion has apparently been able to afford a new (approximately) $20,000 show piece.

According to New York news source, The Gothamist, the rug was purchased from Democratic gubernatorial sponsors, Stark Carpeting.

The Gothamist also states that, "A spokeswoman for Governor Paterson revealed that the governor only yesterday [November 20, 2008], learned of the high price tag antique rugs bought for the Executive Mansion over the summer. His administration also denied all requests from the press to see the [$20,000 rug], that now has been revealed to be one of five purchased- for a total of just under $38,000. Assemblyman James Tedisco has already called on the Governor to return the expensive carpeting. But once again the Office of General Services was defending the purchase saying, 'We have to keep that mansion in the kind of condition it's in because it's a treasure to the public.' And the general manager at Stark Carpeting, where the first rug was discovered to have been bought for over $20,000 defended the governor for actually being a spendthrift by not purchasing a $150,000 carpet, 'They could have had the Bentley instead of the Ford.'"

New York Politicians, and their staffs, keep showing what they're made of.

[SIDEBAR: "...A treasure to the public?" I wonder if they'll let me have a holiday meet & greet on it? SMH.]

A Picture Is Worth A Thousand Words Pic Of The Week

Never Forget Sean Bell

2 years ago today, an unarmed Sean Bell was killed in a barrage of 50 NYPD bullets.

Today's Fly Or Die Commerce Report: Classified Common Stock

The Financial Guide Glossary, says the following about Classified Common Stock: "Some corporations issue more than one category of common stock. Multiple category stock is called classified common stock.

Traditionally, stock referred to as Class A is non-voting, dividend paying stock that is issued to the public. Class B stock is voting stock held by management. Class B pays no dividend, but the owners enjoy the residual price appreciation benefits of a growing company."

Elsie Law's Daily Dose Of The Law

According to the online Free Dictionary, a presidential pardon is: "The granting of a pardon to a person who has committed a crime or who has been convicted of a crime is an act of clemency, which forgives the wrong doer and restores the person's Civil Rights. At the federal level, the president has the power to grant a pardon, and at the state level the governor or a pardon board made up of high-ranking state officials may grant it. The power to grant a pardon derives from the English system in which the king had, as one of his royal prerogatives, the right to forgive virtually all forms of crimes against the crown.

The Framers of the U.S. Constitution, in Article II, Section 2, Clause 1, provided that the president 'shall have Power to grant Reprieves and Pardons for Offenses against the United States, except in Cases of Impeachment.'

Throughout U.S. history the courts have interpreted this clause to give the president virtually unlimited power to issue pardons to individuals or groups and to impose conditions on the forgiveness.

The first major court case involving the pardon power, Ex parte Garland, 71 U.S. (4 Wall.) 333, 18 L. Ed. 366 (1866), established both the scope of the pardon power and the legal effect on a person who was pardoned."

Quote Of The Day

"Reason often makes mistakes, but conscience never does." -Josh Billings (Henry Wheeler Shaw)

Definitions Better Than Webster's: Part 18

DRAPETOMANIA:
According to Wikipedia, "Drapetomania was a supposed mental illness described by American physician Samuel A. Cartwright in 1851 that caused black slaves to flee captivity. Today, drapetomania is considered an example of pseudoscience, and part of the edifice of scientific racism. The term derives from the Greek δραπετης (drapetes, 'a runaway [slave]') + μανια (mania, 'madness, frenzy').

Cartwright described the disorder- which, he said, was 'unknown to our medical authorities, although its diagnostic symptom, the absconding from service, is well known to our planters and overseers'- in a paper delivered before the Medical Association of Louisiana that was widely reprinted. He stated that the malady was a consequence of masters who 'made themselves too familiar with [slaves], treating them as equals.'

In Diseases and Peculiarities of the Negro Race, Cartwright writes that the Bible calls for the slave to be submissive to his master, and by doing so, the slave will have no desire to run away. In addition to identifying drapetomania, Cartwright prescribed a remedy to cure the malady. His feeling was that with 'proper medical advice, strictly followed, this troublesome practice that many Negroes have of running away can be almost entirely prevented.' In the case of slaves 'sulky and dissatisfied without cause'- a warning sign of imminent flight- Cartwright prescribed 'whipping the devil out of them' as a 'preventative measure.'"

Today's Fly Or Die Commerce Report: The American Stock Exchange (AMEX)

According to The Financial Guide Glossary: "The American Stock Exchange (AMEX) is America’s second largest floor based stock exchange (after the NYSE). In terms of volume, market capitalization and listings however, it is dwarfed by its rivals.

In addition to equities, AMEX offers a range of derivative products, including options, index shares and depository receipts.

AMEX is an auction market, with "specialists" overseeing the auction process for each individual stock. Customer orders are electronically sent to the trading floor, then matched with the best available bid or offer currently available.

Specialists are appointed in each security, whose job it is to oversee trading in their assigned stock, ensuring a fair and orderly market, and smoothing out supply and demand by trading themselves.

Specialists also hold 'away from the market' orders on behalf of customers: they are then responsible for executing these when the market reaches the specified price limit."

Elsie Law's Daily Dose Of The Law

"QUESTION: Are the rules for car searches different near the U.S. Borders?

ANSWER: Yes. Because the government has a unique interest in policing its borders at and around border crossings, police officers can search cars and their occupants even if they have no reason to be suspicious. The right to search in the absence of suspicion even extends to a vehicle's gas tank." -From, "The Criminal Law Handbook" By: Bergman & Berman-Barrett

Quote Of The Day

"Think like a man of action, act like a man of thought." -Henri Bergson

Sunday's Op-Ed: Personality vs. Character

While personality scratches the surface of what a person is about; Character gets to the depths of what a person is about. While personality can be a catalyst for liking or disliking a person; Character can be a catalyst for forming a strong bond with a person. While personality can be feigned or even misunderstood; Character is the truth. Personality is the style; Character is the substance. Personality is exhibited; while character has to be proven. With that being said, there are a faction of people who are getting over on personality.

After attending several community council meetings and listening to politicians speak [CLICK HERE for a background on community council meetings], I have observed that there are people who are in vital decision-making positions who are attempting to get over on personality, without exhibiting any integrity (i.e. character) in the way they weld their positions.

I've seen politicians pander to a crowd like they were partaking in a performance of a poorly written church scene, in which they were cast as the shady preacher. Meanwhile, these same politicians would be pelted with boos, instead of amens, if the people looked a little deeper and examined these people's actions when it when really counts.

It's easy for politicians to allocate part of their budget to throw a Christmas party that will pay-off for them in a return of perceived goodwill. However, true goodwill must be earned by politicians when they stand up for their constituents in manner that may not be deemed popular or acceptable by their political peers. While I'm not necessarily opposed to politicians spreading holiday cheer, I think we must take out our magnifying glasses and look where an elected official's actions really count (i.e. how they vote when their group is in session).

How our elected officials vote on the very important issues that effect our community is pertinent to our community's condition and survival. Their votes are a matter of public record, and can be gleaned by a simple google search. How they vote way out weighs their "like-ability factor." After all, how many of us know people who are a lot of fun, and are always the life of the party; yet, you wouldn't trust them to babysit your chia pet?

We can no longer afford to have "life of the party" politicians, who sell us out behind closed doors. Remember that actions speak louder than words. We must be astute regarding how our politicians act and represent us, and hold them accountable. Playtime is over; our future depends on it.

Today's Fly Or Die Commerce Report: Treasury Bills

According to The Financial Guide Glossary: "Treasury bills are short term government debt instruments. In the United States, for example, the market for short term central government debt is mainly comprised of Treasury bills with a maturity of one year or less. Standard maturities are 3 months, 6 months and, in some cases, 1 year.

Treasury bills are usually issued at a discount and are redeemed at their full face value at maturity."

Elsie Law's Daily Dose Of The Law

A parol lease is a lease for a piece of real estate that is made via an oral agreement, without a written contract.

Quote Of The Day

"In a president, character is everything. A president doesn't have to be brilliant...He doesn't have to be clever; you can hire clever...You can hire pragmatic, and you can buy and bring in policy wonks. But you cant buy courage and decency, you cant rent a strong moral sense. A president must bring those things with him. He needs to have, in that much maligned word, but a good one nonetheless, a vision of the future he wishes to create.. But a vision is worth little if a president doesn't have the character- the courage and heart- to see it through." -Peggy Noonan

Propaganda At Its Finest...

I spotted the above "Believe It Or Not" ad on the train the other night. Between the options of believe it or not, I choose "not." A note to the MTA: The people of New York still aren't buying it.

The MTA has to be making money hand over fist from all of the corporate advertisers wallpapering the trains and subway stations with marketing materials; yet they want to bleed their riders with another fare hike. Plus, if you're so strapped for cash, shouldn't you stop spending money on making cutesy ads that nobody believes?

[SIDEBAR: $1.17, in what 1902 dollars?]

Today's Fly Or Die Commerce Report: EE Savings Bonds

According to About.com's, "Investing For Beginners": "Series EE savings bonds are guaranteed by the United States government, pay interest based on current market rates, and can be cashed in any time after six months. In addition, series EE bonds are exempt from state and local tax, and in cases where they are used to pay college expenses, from Federal taxes as well."

Elsie Law's Daily Dose Of The Law

"QUESTION: Am I entitled to have my case dismissed if the police questioned me without advising me of my Miranda rights?

ANSWER: No. One popular misconception about the criminal justice system is that a case has to be thrown out of court if the police fail to give the Miranda warning to people they arrest. What Miranda says is that the warning is necessary if the police interrogate a suspect in custody and want to offer something the suspect says into evidence at trial. This means that the failure to give the Miranda warning is utterly irrelevant to the case if: The suspect is not in custody; The police do not question the suspect; or The police do question the suspect, but the prosecution does not try to use the suspect's responses as evidence.

In essence, if the prosecution can win its case without using the illegally-obtained evidence, a Miranda violation will not cause dismissal of the case." -From, "The Criminal Law Handbook" By: Bergman & Berman-Barrett

Quote Of The Day

"The best index to a person's character is: (a) How he treats people who can't do him any good, and (b) How he treats people who can't fight back." -Abigail van Buren

Book Excerpt Of The Week: "King Of The Cats: The Life and Times Of Adam Clayton Powell Jr." By: Wil Haygood

Here are some interesting facts that I gleaned about Adam Clayton Powell Jr. (the first Black congressman from NY), from the biography, "King Of The Cats: The Life and Times Of Adam Clayton Powell Jr." By: Wil Haygood:

On The Marcus Garvey/Adam Clayton Powell Jr. Connection:
"As a little boy, Adam Powell Junior had climbed to the rooftop of the Abyssinian Baptist Church and looked down on parades led by the enigmatic Marcus Garvey, proponent of racial pride and Black activism."

On Adam Clayton Powell's Involvement In The Wedding Of Nat King Cole:
"Following his Easter sermon, [Adam Clayton Powell Jr.] officiated at the marriage of Maria Ellington to a most eligible bachelor, the crooner-pianist Nat King Cole; afterward everyone dashed to the Waldorf for the reception."

On JFK, Nixon, and Powell's Tenure Together In Congress:
"Among the new House in the 80th Congress were two future presidents, Richard Nixon elected in California in a bitter fight against Jerry Voorhis, a liberal Democrat; and John F. Kennedy of Massachusetts, a World War II hero. Both freshman congressman joined Powell on the Labor Committee."

TODAY IS...

PLEASE PASS THIS ON! (EACH ONE TEACH ONE OR TWO!) THIS IS PHASE ONE ON HOW WE CAN HELP TO STRENGTHEN & EMPOWER OUR COMMUNITY:The 2008 not guilty verdict in the Sean Bell case evoked outrage, emotion, and debate. It is not an anomaly that the police officers involved in the Sean Bell slaying were acquitted of all charges on all counts in State Supreme Court. I could run out of ink printing the names of people who have been victimized by the inaptly named justice system.

The American justice system has been especially terroristic towards the African American community. Many community members can cite historic and personal accounts to prove this. Therefore, it would be foolhardy (at the least) to turn to a system that has methodically oppressed us, and request that they free us. We can only free ourselves through extreme discipline and intelligent planning.

As a community we have been too compliant with leaders who organize ineffective, delayed reactions. The only strategy that can save us in this last hour is one that calls for a collective code of conduct that will be conducive to improving the conditions of our community, and shifting the paradigm of how we are treated by outside entities. The first step of this code of conduct should be based on economics.

The old adage of “money talks,” still reigns true in the new millennium. Any political scientist worth his or her library card will tell you that: “Economic powerlessness equals political powerlessness,” and conversely “economic power equals political power.” This means that if we continue to allow our wealth to be extracted from our community, we will remain impotent.

The power of the collective “Black Dollar” is often discussed. However, that power has been left unchanneled. Today is the day to change that. A one-time boycott is not going to bring long-term change and respect to our community. Our community has launched boycotts before. Our success and ascension will be based on what we consistently do. For this reason, we should initiate “BUY BLACK FRIDAYS.”

BUY BLACK FRIDAYS is a small step towards our community acquiring power via controlling our economics. Every Friday, people who acknowledge the injustice and oppression that the African American community has been consistently subjected to should do one of the following:

Option #1: Spend $0 on Friday
Option #2: Spend no more than $10 on Friday
Option #3: Only Shop at Black Businesses on Friday
[PLEASE NOTE THAT THE ABOVE OPTIONS CAN & SHOULD BE EXERCISED ON A DAILY BASIS. However, we can all at the very least focus on Fridays. This way we can take a collective stand and build our collective discipline. Please remember that this is only Phase 1!].

To the people who are tempted to label “BUY BLACK FRIDAYS” as racist, I say this: In the big scheme of things, this is about right & wrong, justice & injustice. The African American community is a strong, proud community that has endured the brunt of America’s iron fist. We must stop the pounding. I feel that any fair-minded individual will concur, and join in.

ANY business that is privileged to enjoy the support of the African American community MUST return that support.

I thank you in advance for your effort and dedication.

-Elsie Law AKA Starface

Today's Fly Or Die Commerce Report: Corporate Bonds

The U.S. Economy website states: Corporate bonds are issued by various corporations, and are rated as to their risk by Moody's or Standard & Poor's. The higher the risk, the higher the return the corporation must promise. You can buy corporate bonds individually, or through a bond fund, from your financial adviser. They are less safe than government bonds, since there is a chance the company can go bankrupt and default on the bond.

Corporate bonds offer corporations a relatively safe way to gain funds for investment in the company's growth. The alternative is to go public and raise equity by selling stocks. This is a long and expensive procedure. Selling bonds, while still complicated, is relatively much easier and provides a quicker way to raise capital for corporate expansion."

Elsie Law's Daily Dose Of The Law

According to Answers.com, "In 1932, Congress passed the Norris-LaGuardia Anti-Injunction Act in response to what many saw as the abuse of federal court injunctions in labor disputes. An injunction is a judicial order that either commands an individual to perform an act or forbids performing a particular act. As the United States became a more industrialized nation in the late nineteenth and early twentieth centuries, it experienced increasing industrial strife, leading many employers to request federal courts to issue orders prohibiting the activities of strikers. For example, between 1880 and 1930, federal and state courts issued roughly 4,300 anti-strike decrees...

The Norris-LaGuardia Act, unlike the ambiguously drafted Clayton Act, ensured that procedural barriers and safeguards limited the use of labor injunctions. The act declared it to be the public policy of the United States that employees be allowed to organize and bargain collectively free of employer coercion. The act treated unions as entities with rights and interests of their own. It granted unions greater authority to engage in strikes and in most cases barred altogether the issuance of injunctions in labor disputes. The Senate report on the bill stated: 'A man must work in order to live. If he can express no control over his conditions of employment, he is subject to involuntary servitude.'

Beginning in the late 1930s, the federal courts affirmed and extended the Norris-LaGuardia Act's protection of strike and boycott activities to include immunity for labor leaders not only from injunctions but also from civil actions for damages. Nevertheless, the Norris-LaGuardia Act was not as effective as it could have been because it contained no means of enforcing its provisions for labor representation, except through the courts, which sometimes proved hostile to labor's interests."

[SIDEBAR: Then the 80s came, and President Reagan put all the nails he could into the coffin of organized labor and unions.]

Quote Of The Day

"It is by its promise of a sense of power, that evil often attracts the weak." -Eric Hoffer

Anecdote Of The Week: Do You Love Your J-O-B?

"I enjoy telling the true story of Ron Kaufman, a friend who loved nothing more than to play frisbee and see those plastic disks glide through the air. But he was thirty-five years old, and his parents suggested he grow up and find a real job. In addition to tossing frisbees, Ron had a larger vision of promoting world peace. One day it occurred to him to combine his passions. He contacted the representatives of the Wham-O Company and asked if they would sponsor him to fly to the then Soviet Union and provide him with five hundred frisbees imprinted with the words 'World Peace' in English and in Russian. They agreed, and Ron became a frisbee goodwill ambassador, teaching people throughout Russia to play the game and talk about peace. Ultimately Ron formed a company that led goodwill frisbee tours to Russia, where he also met his wife. Doing what he loves, serving other people, Ron thrived, along with his business. The moral is simple: If you can't find a career that satisfies you, invent your own.

Those who view money as an incidental benefit of work they enjoy for its own sake seem to be the most satisfied with their lives. Ask yourself this: 'If I had enough money to live on for the rest of my life, what would I do with my time?' When you have the answer, find work in that area if you can. If you became wealthy and would nevertheless spend some of your time doing just what you now do for a living, you are fortunate indeed." -From, "Everyday Enlightenment" By: Dan Millman

Today's Fly Or Die Commerce Report: Junk Bonds

According to Investopedia, a junk bond is, "A bond rated 'BB' or lower because of its high default risk. [It is] also known as a 'high-yield bond' or 'speculative bond.' These are usually purchased for speculative purposes.

Junk bonds typically offer interest rates three to four percentage points higher than safer government issues."

Elsie Law's Daily Dose Of The Law

Black's Law Dictionary states the following about the term "Court of Nisi Prius":

"Though this term is frequently used as a general designation of any court exercising general, original jurisdiction in civil cases (being used interchangeably with "trial-court"), it belonged as a legal title only to a court which formerly existed in the city and county of Philadelphia, and which was presided over by one of the judges of the supreme court of Pennsylvania. The court was abolished by the constitution of 1874."

Quote Of The Day

"Formal education will make you a living; self-education will make you a fortune." -Jim Rohn

Video Of The Week

Be Healthy!

After watching this, I have to change up some things...I don't know how I'm going to get more sleep though :)

Still Waiting...

Yesterday, Sean Bell's parents and fiance met with a group of Federal Prosecutors, which included the Brooklyn U.S. Attorney and the Chief of the Civil Rights Division, to discuss if civil rights violations will be filed against the three NYPD officers who gunned down a defenseless Sean Bell on the eve of his wedding.

No concrete resolutions emerged from the meeting. The feds have yet to proclaim whether they will in fact file charges against Officers Michael Oliver, Gescard Isnora, and Marc Cooper. Reportedly, the investigation is still pending. According to the NY Daily News, "The feds offered no timetable on the completion of a probe of the shooting."

Will this family get justice?

Today's Fly Or Die Commerce Report: Savings Bonds

Answers.com defines a U.S. savings bond as: "A U.S. government savings bond that offers a fixed rate of interest over a fixed period of time. Many people find these bonds attractive because they are not subject to state or local income taxes. These bonds cannot be easily transferred and are non-negotiable."

Elsie Law's Daily Dose Of The Law

Here are a couple of interesting cases involving eminent domain (when the government seizes private property for public use):

"When the World Trade Center in New York City was being planned in the 1960s, the public authority developing the project sought to condemn several hundred pieces of land owned by merchants and others. Was the construction of two giant office towers public use? Yes, the court ruled, because the public authority's desire to bring together businesses relating to international trade and to redevelop the harbor area where the project would be located was for the benefit of the public.

The World Trade Center was developed by a public entity. What if the government seeks to take land and turn it over to a private enterprise? In the 1970s and 1980s General Motors proposed to build a new auto assembly plant in Detroit. The announcement was welcomed by local and state officials as signaling a commitment to rebuilding the industrial infrastructure of the Detroit area. But the site for the plant was a working class neighborhood known as Poletown. To acquire the site, the redevelopment authority would have to condemn 1,400 homes, 150 businesses, and 16 churches, evicting 4,200 people and destroying the neighborhood in the process. Once the property was taken, it would be turned over to GM. Is it a valid public use to condemn property and then give it to a private owner? The Michigan court held that it is. The purpose in taking the land was not to alleviate the economic distress in Detroit by providing jobs for the workers at the new GM plant. Even though the only way to accomplish this was to give the land to a private owner, it was within the authority of the government to determine that it was in the public interest to do so." -From, "Law 101" By: Jay M. Feinman

[SIDEBAR: Bait and switch, much?]

Quote Of The Day

"Most people search high and wide for the keys to success. If they only knew, the key to their dreams lies within." -George Washington Carver

Definitions Better Than Webster's: Part 17

ATONEMENT:
According to The Final Call website, "During Minister Farrakhan’s Address at The Million Man March, he outlined Eight Principle Steps in the Atonement Process. Simply stated, they are as follows:
1. Point out the wrong.
2. Acknowledge the wrong.
3. Confess the Fault.
4. Repent.
5. Atone.
6. Forgive.
7. Reconcile and Restore.
8. Perfect Union with God.

When these Eight Principle Steps are put into practice, it will bring about a Healing on our Planet and open up the Way to a Culture of World Peace based on genuine love and Forgiveness."

Four New Planets Discovered

Scientists have allegedly discovered four new planets that are outside of our solar system, trillions of miles away. According to The Dallas Morning News, "None of the four giant gaseous planets are remotely habitable, or like Earth. But they raise the possibility of others more hospitable."

CNN states that, "According to the the Extrasolar Planets Encyclopedia, there have been 322 planets found outside our solar system. The latest findings bring that total to 326."

The Dallas Morning News also reveals that despite the photographic evidence of the recent discovery (See Picture Above), some scientists are skeptical that the formations are in fact planets. "Alan Boss, an exoplanet expert at the Carnegie Institution of Washington, and Harvard exoplanet hunter Lisa Kaltenegger both said more study is needed to confirm these photos are proven planets and not just brown dwarf stars."

[SIDEBAR: See what I mean about this supposed "recession." [CLICK HERE for my recession theory- if you haven't read it already]. Would a country in deep financial debt have the budget to be noising around in outer space?]

The March On Washington: Take One

"As the months passed and war became imminent, Blacks were forced to decide between patriotism amd expressing their continued anger by refusing to fight. Oddly enough, war offerred them one new oppoirtunity: employment. Still, Blacks looking tothe federalgovernment for sustenance found little. Despite valiant efforts by New York senator Robert Wagner, there was still no law prohibiting lynching. Anti-lynching bills invariably made it out of the House, only to be stmied in the Senate by powerful southerners. Fearing a southern blacklash, Roosevelt did not put the weight of his office behind the legislation. The president also disappointed many by refusing to sign legislation creating the Fair Employment Practices Commission (FEPC).

A. Philip Randolph devised a plan to focus Washington's attention on the plight of American Blacks. Billed as the Negro-March-on-Washington, it showed the union leader at his greatest. Randolph and others, including [Adam Clayton] Powell, imagined that the march would finally prove to Washington that while the Black vote might be in contention, Black dignity and pride were not: Blacks would fight, but first they would demand equality when seeking employment. There were those who thought the Negro-March-on-Washington was ill-timed and dangerous; while Randolph took his cue from support he received around the country, from crowds that greeted him from Georgia to Michigan, Washington insiders were aghast at the idea. Mayor La Guardia, dispatched by the administration to plead with Randolph, warned that Blacks would be killed marching through the capital. Both Roosevelt and La Guardia were pushed into positions contradicting their liberal beliefs. Randolph persisted in his resoluteness, and in the end Roosevelt gave in, creating the FEPC and enabling Randolph to cancel the planned march." -From: "King Of The Cats: The Life and Times of Adam Clayton Powell Jr." By: Wil Haygood

A Picture Is Worth A Thousand Words Pic Of The Week

Today's Fly Or Die Commerce Report: Municipal Bonds

According to CNN's Money Report, "Municipal bonds, or 'munis,' are one of America's favorite tax shelters. They are issued by state and local governments and agencies, usually in denominations of $5,000 and up, and mature in one to 30 or 40 years. Interest is exempt from federal taxes and, if you live in the state issuing the bond, state and possibly local taxes as well. (Note that there are exceptions). The capital gain you may make if you sell a bond for more than it cost you to buy it is just as taxable as any other gain; the tax-exemption applies only to your bond's interest."

Elsie Law's Daily Dose Of The Law

According to the U.S. Government's archives website, "The Presidential Records Act (PRA) of 1978, 44 U.S.C. ß2201-2207, governs the official records of Presidents and Vice Presidents created or received after January 20, 1981. The PRA changed the legal ownership of the official records of the President from private to public, and established a new statutory structure under which Presidents must manage their records.

Specifically, the Presidential Records Act:
-Defines and states public ownership of the records; Places the responsibility for the custody and management of incumbent Presidential records with the President.
-Allows the incumbent President to dispose of records that no longer have administrative, historical, informational, or evidentiary value, once he has obtained the views of the Archivist of the United States on the proposed disposal.
-Requires that the President and his staff take all practical steps to file personal records separately from Presidential records.
-Establishes a process for restriction and public access to these records.

Specifically, the PRA allows for public access to Presidential records through the Freedom Of Information Act (FOIA) beginning five years after the end of the Administration, but allows the President to invoke as many as six specific restrictions to public access for up to twelve years.

The PRA also establishes procedures for Congress, courts, and subsequent Administrations to obtain special access to records that remain closed to the public, following a thirty-day notice period to the former and current Presidents, and requires that Vice-Presidential records are to be treated in the same way as Presidential records."

In 2001, following a precedent set by Ronald Reagan, President George W. Bush issued an executive order that narrowed the above stated parameters of the Presidential Records Act.

Quote Of The Day

"Do not allow yourselves to be deceived: Great minds are skeptical...There is nothing more necessary than truth, and in comparison with it everything else has only secondary value." - Friedrich Nietzsche

Will Federal Charges Be Brought Against The Police Officers Who Were Involved In The Sean Bell Slaying?

According to the New York Daily News, Sean Bell's family will be meeting with federal prosecutors tomorrow.

Reportedly, Sean Bell's parents and fiance will have a sit down with U.S. Attorney office representatives to see if civil rights charges will be filed against the police officers who murdered an unarmed Sean Bell in a hail of 50 bullets.

The police officers were already acquitted of criminal charges in state court. The New York Daily News has also stated that inside sources have said that the Justice Department is unlikely to bring federal charges. If this is so, then tomorrow's meeting will be just a case of the Justice Department going through the motions so they can say that they covered all of their bases.

Today's Fly Or Die Commerce Report: Stocks vs Bonds

According to The U.S. Economy website: "Stocks are a share of the ownership of a company. Initially, they are sold by the original owners of a company to gain additional funds to help the company grow. The owners basically sell control of the company to the stockholders...If the company does well, or even if everyone thinks the company is going to do well, the price of the stock goes up. This is how stockholders make a return on their investment. Conversely, if the company does poorly, then the shares decrease in value, and the stockholders lose their investment. In addition, many companies give a little dividend payment each year to the stockholders, providing extra income."

According to Investor Words, a bond is: "A debt instrument issued for a period of more than one year with the purpose of raising capital by borrowing. Generally, a bond is a promise to repay the principal along with interest on a specified date. Some bonds do not pay interest, but all bonds require a repayment of principal. When an investor buys a bond, he/she becomes a creditor of the issuer. However, the buyer does not gain any kind of ownership rights to the issuer. On the hand, a bond holder has a greater claim on an issuer's income than a shareholder in the case of financial distress."

The Legal Eagles Legal Brief: The Case Of An Inmate's Right To Refuse Medical Treatment

“The 1979 case of Commissioner Of Corrections v. Myers concerns an inmate’s attempt to refuse dialysis, consistent with the well-settled right of capacitated adults to refuse unwanted treatment, even if that refusal hastens the patient’s death. In overruling the prisoner’s refusal of treatment, the court noted that the interests of the state, as represented by the department of corrections, included ‘the preservation of internal order and discipline, and maintenance of institutional security, and the rehabilitation of prisoners.’ These interests, the court held, permitted corrections officials to administer life-saving treatment without consent and over specific objection of the inmate. This case and others have consistently placed the requirements of corrections administration over the rights of inmates to consent to or refuse treatment.” -From, “Prisoners Should Receive Humane End-Of-Life Care” By: Nancy Dubler

Elsie Law's Daily Dose Of The Law

"QUESTION: How do police officers obtain search warrants?

ANSWER: Police officers obtain warrants by providing a judge or magistrate with information that the officers have gathered. Usually, the police provide the information in the form of written statements under oath, called affidavits, which report either their own observations or those of private citizens or police undercover informants. In many areas, a judicial officer is available 24 hours a day to issue warrants. If the magistrate believes that an affidavit establishes 'probable cause' to conduct a search, he or she will issue a warrant. The suspect, who may be connected with the place to be searched, is not present when the warrant issues and therefore cannot contest the issue of probable cause before the magistrate signs the warrant with a pretrial motion." -From, "The Criminal Law Handbook" By: Bergman & Barrett