Archive for October 10, 2008

Bad day for Balloon Fiesta

One person was killed and three injured today in three separate balloon accidents as the Albuquerque International Balloon Fiesta enters its closing days.

In the fatal accident, the balloon hit a power line (often a culprit in accidents), which cut a fuel line. The gondola and envelope caught fire and were separated. The two men on board fell 45 and 60 feet to the ground, killing one and critically injuring the other.

Here’s the story on the accident and a photo sequence of the doomed balloon.

Body of Lies

I’m thinking A.O. Scott isn’t crazy about the new Russell Crowe, Leanardo DiCaprio flick. His review begins:

Ridley Scott’s new movie, “Body of Lies,” raises a potentially disturbing question. If terrorism has become boring, does that mean the terrorists have won? Or, conversely, is the grinding tedium of this film good news for our side, evidence of the awesome might of Western popular culture, which can turn even the most intransigent and bloodthirsty real-world villains into fodder for busy, contrived and lifeless action thrillers?

Hear: Globe, Dow Spin Fast

Today’s Planet Money podcast is interesting (and surprisingly not depressing).

  • The politics behind Freddie and Fannie.
  • How they might determine the price of the crappy assets we’re buying in the bailout.
  • Can your mortgage company demand you pay in full (or change your rate)?
  • And an enterprising panhandler.

Ten Ten

Today is the birthday

… of Peter Coyote, the actor. He’s 67. Coyote does a lot of voice-over and narration. He’s the one that sounds a lot like Henry Fonda. He’s appeared in more than 100 films and television shows (including recently in “Commander in Chief”), though he began acting only at age 39. He tested for the part of Indiana Jones.

… of “Chicken George.” Actor Ben Vereen is 62. He played Alex Haley’s ancestor, “Chicken George,” in Roots.

… of singer John Prine, 62.

… of David Lee Roth, 54.

… of Tanya Tucker, 50.

… of Bradley Whitford. He’s 49.

… of Brett Favre. He’s 39.

… of Dale Earnhardt Jr. He’s 34.

Helen Hayes was born on October 10th in 1900. Hayes won two acting Oscars — leading in 1932 and supporting 39 years later in 1971.

Long regarded as “the First Lady of American Theater,” Helen Hayes earned international esteem and affection during a career that spanned more than eighty years on stage and in films, radio, and television. As a screen actor she won two Oscars, as a stage actor she won a prestigious Drama League of New York award, and in 1988 President Ronald Reagan presented her with the National Medal of Arts. Deeply in love with her profession, Hayes enjoyed playing a variety of roles, from Amanda Wingfield in Tennesse Williams’s “The Glass Menagerie” (1948) to a little old lady stowaway in AIRPORT (1970). Both the charm of her comic roles and the depth of her tragic ones made Hayes one of the most respected and beloved American actors.

American Masters

Thelonious Monk was born on this date in 1917.

Thelonious Monk, who was criticized by observers who failed to listen to his music on its own terms, suffered through a decade of neglect before he was suddenly acclaimed as a genius; his music had not changed one bit in the interim. In fact, one of the more remarkable aspects of Monk’s music was that it was fully formed by 1947 and he saw no need to alter his playing or compositional style in the slightest during the next 25 years. (All Music)

A must-have jazz album is Thelonious Monk Quartet with John Coltrane at Carnegie Hall. All Music has a review and the background — the tape had been lost for decades.

Monk died in 1982.

How Long Before the Market Bottoms?

How Long Before the Market Bottoms? Three years? Six years?

How long before it recovers? 29 years? 24 years?

That’s what the history of the comparable 1930s and 1970s crashes tells us. The Economix Blog has the details.

What a world

Even when the financial news is good, it speaks to the pending doom of the civilized world. Case in point:

Chief Financial Offer Keith Sherin told analysts on a conference call that he film segment saw its profit rise 40%, led by the performance of “Mamma Mia,” a movie adaptation of the hit Broadway musical, starring Meryl Streep and Pierce Brosnan. The film has grossed more than $500 million worldwide.

MarketWatch

Best line of the day, so far

The Republicans have alienated whole professions. Lawyers now donate to the Democratic Party over the Republican Party at 4-to-1 rates. With doctors, it’s 2-to-1. With tech executives, it’s 5-to-1. With investment bankers, it’s 2-to-1. It took talent for Republicans to lose the banking community.

David Brooks (of all people)

Observation

You all do recognize that McCain is insane demented, don’t you?

Yes, I am serious.

The markets

Cartoon from 1987 applicable today.

Oh, and at the moment, the crisis indicator we’re told to watch, the TED Spread, is up 6.666% today. How scary is that?

The Devil's TED Spread

[With the TED, up is bad.]