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