A Little Of The Old In Or Out



In: President Barack Obama. The President's pitch-perfect $50 billion mortgage relief plan was heavy on specifics but surprisingly simple. This is precisely what the American people have been looking for since the market tanked last week after Secretary Geithner's anemic plan to shore up the financial system. Digestible financial information delivered by a great communicator as to what the Presidents plan will do for us is exactly what a shaken democracy needs. The soaring campaign rhetoric now, it appears, must needs to suit the times metamorphose into refreshers in financial literacy.

Second -- and most important -- the speech's exhortation to "return to personal responsibility" struck the chords of Reagan. Unlike Reagan, however, this President was in full command of the material and not simply sleepwalking through a line reading of a speech.

Finally, the tone was Populist yet still optimistic (ending in "God bless America"). Leaving the echo chamber of the beltway he delivered the speech before non-federal government employees in the Southwest. The President's speech, curiously, was delivered in Phoenix, Arizona. As the political director of NBC News Chuck Todd and Sheldon Gawiser wrote in "How Barack Obama Won (Please buy. This. Book)": "the rapidly changing composition of the population has made Arizona an emerging battleground state ... without the presence of John McCain, it is likely Arizona would have been targeted in 2008." In Phoenix, Obama's embattled young Presidency rose from the ashes.



(image via larryevansphotography)

Out: Christie Hefner. Reason #500 why The Corsair is glad we don't invest in Playboy. Reason #499 was that Hugh, when he was in charge, ran the company like a tyrant, devoting valuable magazine real estate on his ridiculous editorials on "Playboy philosophy." Reason #500 involves now former CEO Christy Hefner and her severance package that is entirely devoid of a connection to actual performance. From paidcontent:

"With the company’s market cap hovering around just $50 million, Kern was asked how Playboy could justify paying ousted CEO Christie Hefner a $2 million severance package. While she was entitled to only $1.6 million in severance, the board simply felt that, in light of her 20 years at the head, that she deserved more, Kern said. 'The board decided that providing the $2 million in severance wasn’t a violation of our fiduciary responsibilities.' The severance has already been paid in full, he said. In the meantime, Playboy retained an executive search firm last month to find Hefner’s successor. No word on when they expect to fill that role permanently. Kern then offered some Playboy humor: 'I’m starting to get used to ‘interim’ in front of my name. I hope my wife doesn’t start getting too used the title, though.'"

Ba-dum bum.



(image via fishbowlny)

In: Wednesdays At Michaels. Our old boss Laurel Touby just noted via Twitter that among the chattering class lunchtime crowd at Michael's today was: "Mayor" Joe Armstrong, Bonnie Fuller, Gerry Byrne, Silda Spitzer, Joanne Lipman, Magid's Mike Vorhaus, Larry Kramer (Polaris, formerly of Mktwatch) and Jack from Metacafe.com. The full report will come later today on FishbowlNY.