Our resident economist, Carl Pellegrini, warned in his December 27, 2005 article entitled "LET US TAKE A GLANCE INTO THE FUTURE OF 2006" about the dangers of unfunded (public and private) pension liabilities. He is not alone in worrying about this ticking time bomb. Rich Oppel, the Editor of the Austin American-Statesman wrote a January 1st article predicting the "collapse of the American pension".

Here is part of what Oppel has to ay about a neglected news event of 2005: "Yet a news event totally overlooked by editors will have great impact, and that is the collapse of the American pension. In 2005, massive liabilities were revealed for pension plans covering 44 million Americans... In a state capital, it is worth remembering this is not just about corporate employees. The Texas Teachers retirement System reported it had $13.2 billion less than it needed to cover obligations. Unless the Legislature supplements TRS holdings, future pension payments will be restricted."

To read the entire article, click here to link to Austin American-Statesman (registration required).

Happy Man?Bill Parcells is not a happy man.  Norm notes that this is no longer a "happy" organization.  Even in its darkest days it was an open gregarious sort of club.  But not now.  A good club?  Yes.  But not a happy club.  And that leads Norm to guess the coach will not return.

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A Chinese court in Shanghai ruled that a local Chinese coffee shop was illegally using the Starbucks name and logo. Starbucks has a significant presence in China with approximately 140 stores there.

The ruling that a local company had infringed on the Starbucks name and logo takes on added importance in that Chinese companies have a reputation for “knocking off” Western brand merchandise. That a Chinese court would rule in Starbucks' favor suggests that the government is beginning to listen to the concerns voiced by Western nations about the importance of respecting copyright and trademark law. We will see if this decision is just an aberration or the sign that the “knock off” businesses in China no longer will enjoy the protection of a government that often has looked the other way at their actions.

In 2004 a well done study by the Dallas Morning News concluded that Dallas was a city "at the tipping point" of falling into an abyss from which it wouldn't emerge.  The City Council scoffed.  Scott Bennett thinks the Dallas News was right and the Council was wrong - and that it is still more right than wrong.  There are big things happening that are mostly good, but there are little things that must happen if Dallas is to succeed.  They don't seem to be happening.

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Comptroller Carole Keeton Strayhorn has announced she will seek the governor's office as an independent candidate, rather than running in the GOP primary. Strayhorn made the announcement today at Pease Elementary School in Austin, which Strayhorn attended in her youth. "I am a Republican," Strayhorn said. "But I know we must set partisan politics aside and do what's right for Texas. That is why I am running for governor as an independent, a Texas Independent."

Strayhorn's speech contained her usual critiques of Gov. Rick Perry's record on school finance, immigration, and ethics. "Our governor has given us a culture of political division that has brought government to a grinding halt. He has given us higher property taxes, bigger government, higher insurance rates, toll roads, has abandoned our border, and ignored our public schools.

To run as an independent, one must get petition signatures from registered voters equal to at least one percent of the number who voted in the 2002 gubernatorial election. Only those who do not vote in primaries can sign, and the signatures must be collected during a one to two month period between the end of the governor's primary (and run-off, if necessary in either party) and May 11. Hence, life would be easier for Strayhorn if the Democratic primary is settled without a runoff.

Perry campaign spokesman Robert Black issued the following statement: “Carole Strayhorn’s decision to leave the GOP is a direct response to Gov. Perry’s strong leadership and support and an admission that she would have been defeated in the upcoming GOP primary by those who know her best: Texas Republican voters. Carole Strayhorn has once again offered only empty criticism and no solutions to Texas voters. Throughout her entire career, Carole Strayhorn has not produced a single meaningful reform, only empty promises that she has never kept. Today’s action is the type of transparent political opportunism that insults the intelligence of Texas voters and is destined for rejection and failure just as it was the first time she tried it.”

Dean Barkley, campaign director for Kinky Friedman, welcomed Strayhorn into the race. Barkley said Strayhorn called Friedman earlier today to let him know about her decision. "Our stategy is going to remain the same," Barkley said. "Giving hope to those who have lost hope in the political process, to give them a reason to vote once again ... People can judge for themselves who is the true independent, whether it is Kinky Friedman who has never been a Democrat or a Republican or Carole who has been both ... Texans are finally going to have more than two choices. They are going to have three or four choices which is great. We're happy about that ... Nobody's been representing those who aren't liberal Democrats or very conservative Republicans. And now, thank goodness, Texas is going to have more choices.

Chris Bell campaign spokesman Jason Stanford issued the following statement:
"All bets are officially off, though the possibility of a four-way general election arguably works in Chris Bell's favor. If the race comes down to three Republicans and one Democrat, all Chris Bell has to do to win is to get Democrats to vote for a Democrat. That scenario would seem to favor a Democrat with a history of fighting for what Democrats believe in. Chris Bell also looks pretty good in a four-way race that includes a flawed and vulverable incumbent and two extra campaigns trying to sack the castle. In this crowd, it’s going to be pretty obvious that Chris Bell is the only candidate offering new ideas about how to get Texas headed in the right direction. It’s not enough to be right about Rick Perry being wrong. With his New Mainstream message and his roadmap, only Chris Bell is offering new ideas to get Texas headed in the right direction."

Democrat Bob Gammage issued the following statement: “This is bad news for Rick Perry and great news for Texas. This guarantees that Rick Perry will have two strong opponents shedding light on his shortcomings all the way to November. There are plenty of decent Republicans out there who are fed up with Perry, Tom DeLay and the corrupt GOP Leadership. Texans understand that it is time for a change, that the current Republican leadership has turned its back on the needs of our families and our children and left then twisting in the wind. They are tired of the corruption, weakness and incompetence in the Governor’s office. Strayhorn’s defection is just the beginning of an exodus of thinking and caring Republicans from the ranks of a badly served GOP.
“This also reinforces our message that Perry, DeLay and the current Republican leadership are bad for all Texans, and we will carry that message to Democrats, angry independents and disaffected Republicans across Texas, through March and beyond.”

Glen WhitleyCounty Commissioner Glen Whitley, Brian Wayne Salvant, and Joyce Stevens have filed to run in the Republican primary for Tarrant County Judge. The DallasBlog was first to report that Tom Vandergriff would not run for re-election.

Other primaries of note in Tarrant County include a number of state representative races. Pat Carlson, former Tarrant Count GOP chairman, leads a field of four competing for the seat being vacated by Rep. Bob Griggs in District 91. Kent Grusendorf and Diane Patrick face off in Arlington while Chris Hatley is challenging Charlie Geren in a Ft. Worth district. Since Tarrant County is one of the strongest Republican counties in Texas, the elections there likely will be decided in the Republican primary.

Former Supreme Court Justice Steven Wayne Smith has filed to run for Place 2 on the Texas Supreme Court against incumbent Justice Don Willett, who was appointed by Gov. Rick Perry. Smith defeated Perry appointee Xavier Rodriguez in 2002 by questioning whether he is conservative. In 2004, Perry and his political team helped Paul Green defeat Smith. Now Smith is fighting another Perry appointee in the GOP primary.

Smith stated: “I am running to give Republican primary voters a choice this March. My conservative judicial philosophy, prior judicial experience, and well-known work ethic make me the most qualified candidate for Place 2 on the Texas Supreme Court.”

Former Supreme Court Chief Justice Tom Phillips is Willett's campaign treasurer, and Willett has received the endorsement of every living former chief justice. The Willett campaign could not be reached for comment today but if we get a statement, we will post it.

Got the URGE?  Doug Bedell says if you want a stupid looking car that allows you to park and play games til your heart's content you may get the Urge.  But if you are mentally over the age of maybe 12 you probably won't. 

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I have never wanted to see a "King Kong" remake, any more than I would want to see a remake of "Casablanca" and studiously avoided the ‘70s version with Jessica Lange. However, when Peter Jackson of "Lord of the Rings" fame said that this was a fulfillment of the lifelong dream of a boy from New Zealand, I felt that the right man had come along to give us a "King Kong" for the digital age.

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Will Pryor Dist 32            Charlie Thompson Dist 5
For the first time in a long time Dallas Democrats seem ready to fight.  The most candidates in at least 20 years, 93 candidates, have filed and optimism is running high.  Democrats will challenge the GOP for the open District Attorney seat and will boast two challengers to sitting GOP Congressmen.

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