Four years ago, the analysts at John S. Herold Inc. were the first to call bullshit on Enron. On Feb. 21, 2001, three Herold analysts issued a report that said Enron’s profit margins were shriveling, the company had too few hard assets, and its stock price was way too high. Less than ten months later, Enron filed for bankruptcy.
Read moreNow that the cash-strapped Pentagon has announced plans to cancel much of the F-22 fighter program, it should take the opportunity to kill another gold-plated albatross: the V-22, the tilt-rotor aircraft built by Bell Helicopter and Boeing.
Read moreThe more things change, the more they don’t. The very first issue of the Texas Observer broke a story which, given the details, might have occurred just last week.
Read moreWith the reelection of George W. Bush, the Texanization of American politics is virtually complete. Ever since 1845, when the state was annexed by the United States, the Lone Star State and what it represents have been controversial.
Read moreA $1,000 expenditure by a state agency might not sound like much particularly when you consider that the state of Texas will spend about $58 billion this year.
Read moreFor me, Election Day is like a church gathering for the neighborhood. Like a Sunday visit to church, the journey to the poll at the school near my house gives me a physical connection to a very specific group of people many of whom share my beliefs and concerns.
Read moreFor most of the last five years, the Texas Funeral Service Commission has been battling with the world’s largest funeral services company, Houston-based Service Corporation International , over allegations that the company violated numerous state regulations in the late 1990s.
Read moreThe induction of George W. Bush into the Texas crony network can be traced to a precise date: June 6, 1962. On that date, the gregarious 15-year-old went to work in the mailroom of Houston’s oldest and most prestigious law firm, Baker Botts.
Read morePolitical speeches are always light on specifics and heavy on catch phrases. But John Kerry’s speech at the Democratic National Convention was remarkable for its near-total disregard for the harsh realities of America’s current energy predicament.
Read moreSen. Zell Miller was loud. He was aggressive. And while his speech at this month’s Republican National Convention tried to paint John Kerry as soft on defense, Miller also unwittingly exposed the utter hypocrisy that allows the Pentagon to continue wasting tens of billions of dollars per year on useless weapons systems.
Read more