The Mornin' Mail is published every weekday except major holidays
Friday, May 29, 2009 Volume XVII, Number 241

did ya know?

Did Ya Know?... The Magic Moments Riding Therapy Auction will be held at Lucky J Arena Saturday May 30th at 10:00 a.m. A long list of items including a horse trailer and lots of furniture will be auctioned by Kip Smith. Proceeds will fund the continuing operations of Magic Moments. Call Jeanne at 417-325-4490.

Did Ya Know?... Remember to vote for our Carthage Humane Society at Make a difference in our community!

Did Ya Know?... Jam Session Saturday, doors open @ 4:00 p.m., music starts @ 5:00 p.m. All acoustic instruments welcome! Salem Country Church, Red Oak II, Carthage MO., 417-237-0885.

today's laugh

Caught stealing

A shoplifter was caught red-handed trying to steal a watch from an exclusive jewelry store. "Listen," said the shoplifter, "I know you don’t want any trouble either. What do you say I just buy the watch, and we forget about this?"

The manager agreed and wrote up the sales slip. The crook looked at the slip and said, "This is a little more than I intended to spend. Can you show me something less expensive?"

Experience is what you get when you were expecting something else.

A Chronological Record of Events as they have Transpired in the City and County since our last Issue.

Many Picnics Postponed.

Several moonlight picnics planned for this week, while the August moon was full, have gone glimmering. The wet weather has knocked many plans in the head. One lady remarked yesterday:

"There has not been a single moonlight picnic this summer and it’s a shame we can’t have one while this moon is full."

There were at least three "horse-and-buggy" picnics" on for this week. One crowd of young society folks was going to Cave Springs on Center creek tonight or tomorrow, a crowd of married folks was going to drive to Carytown tonight, and another crowd of young folks was planning for a "moonlight soiree" at the historic old Wildwood, down Spring river. The woods and river bottoms are now so damp and wet that they will hardly be suitable for picnicing for a day or so even if the rain should stop.

  Today's Feature

Flanigan Freshman Legislator of the Year.

Jefferson City – State Representative Tom Flanigan (R-Carthage) was recently recognized, by his colleagues, for his work on the 2010 state budget. Flanigan received the Freshman Legislator of the Year Award from House Speaker Ron Richard (R-Joplin) for his work on Budget and Fiscal Policy issues, at a brief ceremony in the Speaker’s Office.

The House Budget Committee, on which Rep. Flanigan serves, is charged with formulating the annual state budget, and ensuring the state’s present and future financial commitments are thoroughly examined and planned for. The state budget for Fiscal Year 2010 is $23.1 billion dollars. Rep. Flanigan also co-sponsored legislation that would revise the Missouri tax code as well as legislation designed to stop the use of public funds for lobbying efforts.

"Fiscal responsibility is the cornerstone of good government," said Rep. Flanigan. "In order to improve the lives of all Missourians and to weather the current economic storm, it is critically important that we care for our state’s finances responsibly and conservatively."

Bailed-Out Bank CEO Gets Paid $1.3 Million to Retire

by Paul Kiel,

It has been reported that a Wisconsin bank had managed to pay its departing president and chief operating officer $1.65 million despite Congress’ ban against golden parachutes for companies that accepted TARP money.

Well, here’s another bank that has found a way around the ban. Hampton Roads Bankshares of Virginia, which received $80.3 million of TARP money last year, announced last week that its CEO was retiring. On Friday, the bank disclosed [4] that in addition to a full slate of retirement benefits, the exec will be paid $1.3 million for "consulting duties."

Jack Gibson, the departing CEO, evidently doesn’t think he’ll be working too hard consulting. "I can think of no better time to fulfill my personal goal of early retirement," he said in a press release announcing his exit. "It is well known within the company that I would like to retire by age 60, and I’m almost there." During the period of his three-year consulting gig, the bank has also agreed to cover his membership dues at a local country club.

The $1.3 million that Gibson will receive roughly matches the total amount he received in salary over the last three years as CEO ($1.4 million).

"That is a very substantial amount of money for consultancy for a bank of this size," said Paul Hodgson of the Corporate Library, a corporate-governance research firm. "I’ve seen S&P 500 telecoms pay less than this for consultancy work. This is supposed to be a retirement."

In addition to the cash payments and club membership, Gibson will get some other perks: title to the company car that he uses, "any necessary incidentals" over the next three years, and health insurance for 18 months. The agreement also gives Gibson the option to require the bank to buy 100,000 of his shares in the company. (The stock closed yesterday at $8.19 a share.)

Like Wisconsin’s Associated Banc-Corp, Hampton Roads is prepared for the possibility that regulators will determine that the arrangement violates the ban on golden parachutes. According to the separation agreement, if the Treasury Department or the Federal Reserve determines that any payment breaks the law—or if they even "criticize" the arrangement—the bank can choose not to pay any more and ask Gibson to return what he has received. But that would only be a short-term reversal. The agreement says that if the restrictions were lifted (either through change of legislation or the bank’s repaying its TARP money), Hampton Roads would pay everything that had been withheld—with 8 percent interest.

Hampton Roads did not respond to our requests for comment, and we couldn’t track down Gibson.

Obama Admin Tests Waters for Regulatory Overhaul

by Paul Kiel,

Both The Wall Street Journal and the Washington Post have a rundown on aspects of the administration’s likely overhaul of the financial regulatory system. The descriptions come from anonymous sources, and it seems to be a testing of the waters.

There would be some big changes. No longer would there be a quartet of regulatory agencies, an arrangement that has allowed banks to sometimes game the system by choosing the one with the lightest regulatory touch. There would be only one to directly oversee banks—a completely new agency. Two of the four existing agencies would disappear. The FDIC and Federal Reserve would cease to regulate banks as they do now, but they would gain other powers. The FDIC would be able to put any institution, no matter how big, into receivership. The Fed would be charged with watching and controlling risk across the system. There would also be a new agency with the primary mission of protecting consumers.

The changes are likely to draw opposition from a number of corners (e.g., lawmakers whose committees oversee certain aspects of the current system, the banks, etc.), the Post points out, so any system overhaul won’t be happening overnight.

There are definite flaws in the existing system. For instance, ProPublica has reported on how AIG’s regulator wasn’t up to the job and how IndyMac’s failure exposed weak oversight by regulators.


Just Jake Talkin'

I saw somethin’ the other day that ticked me off. Then I forgot what it was. Unfortunately, not knowin’ why I was ticked off didn’t alter the fact that I was ticked.

After a while, I started gettin’ ticked that I couldn’t remember why I was ticked in the first place. The resulting double tick stacked up to the point that I started lookin’ for thick facts that might depict me bein’ ticked. At that point I decided it just wasn’t worth the effort and became deticked.

Most would have to agree that the natural unticked state is a more wholesome place ta be. The fact bein’ that I usually don’t have ta go lookin’ for any particular ticker to tackle.

I’m assumin’ by now ya get the point. If ya need an excuse ta be ticked, you can always use this column.

This is some fact, but mostly,

Just Jake Talkin’

Sponsored by Robinson Family Health Center


Weekly Columns

Journey Along the Wellness Path

by Leesa I. Robinson, N.H.P.

The health consequences of essential fatty acid deficiencies are enormous. Many health enthusiasts are wisely turning to fish oil to supply their daily needs of omega 3 essential fatty acids (EFA‘s). It is no time to start pinching pennies when it comes to choosing a good fish oil.

When choosing a fish oil one should consider the following points:

• High quality is of utmost importance.

• Fish oils are prone to rancidity because they are the most highly unsaturated EFA’s.

• Unsaturated oils become rancid in the presence of light, air, and heat. Proper preparation and handling must be used to guard against this.

• Less than quality fish oils can be contaminated with heavy metals and pesticide residues.

• Fish oils that have been artificially manipulated to increase EPA’s such as oils labeled "mixed marine oils" should be avoided.

A simple test that can be done at home is to place a capsule of fish oil in the freezer. Check the oil in an hour and if that oil is frozen you are safe to assume the oil is rancid. Fresh fish oil will not freeze. Rancid oils have drastic negative health affects and should not be consumed at any cost.

To add another twist to the topic, experience tells me that some people do exceptionally well consuming a good quality fish oil while others need to consider a plant oil such as Black Current Seed Oil, for their daily EFA’s.

Choose your daily essential fatty acid supplement wisely and with quality in mind.


ART NOTES from Hyde House

by Sally Armstrong, Director of artCentral

We are now looking very much forward to participating in the annual Acoustic Music festival held each year in June on the Carthage square. This year’s festival will begin with music on Friday night, June 12th and all styles of acoustic music will be presented. The next day, Saturday, June 13th beginning at 10:00 am the music will again start, with various individuals and groups all day and through the evening. If you come to listen, be sure and bring a comfortable lawn chair, and you may choose to eat at any one of the several restaurants on the square. This year, an added attraction will be artCentral’s presentation of a special art tent, also on the square. This white tent will feature some of our member artists displaying their work for sale, which will include paintings, sculpture, jewelry and other mediums, and a special kid’s art table where we have a special craft for the first 50 kids aged 7-14 to come up and do. There is no charge, but a small donation will be accepted for the kid’s craft. Our tent will open in the morning, and will close at dark, so we hope those of you in attendance will bring your children over to visit the kid’s table while you browse in the adult art sales area. Please attend this very special music event on our Carthage square the second weekend in June. If you have questions about the music, call Carthage Printing for specific information on the musicians. We hope to see everyone there for a fun day! If serious rain occurs, the concerts will be held in the former Sr. High School building near downtown. Come by and see us.


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