Comparing an Islamic mosque by ground zero to a porn shop?

Update: August 15, 2010

ABC Nightly News used the same distorted logic as did the New York Times back in May and made the moral equivalence of pornography shops and strip clubs many blocks away from Ground Zero to a proposed Islamic mosque. Presumably, ABC did this to make the point that Ground Zero is not the “hallowed ground” that mosque protestors claim. Therefore, to oppose the proposed mosque based on the grounds that Ground Zero is special is hypocritical. Read below our original commentary on the flaws of that logic.

Op-Ed May 28, 2010

In what could be one of the poorest uses of logic in recent mainstream media history, the New York Times featured a column by Clyde Haberman supporting the construction of a five-story Islamic mosque near “Ground Zero” (The name for the former World Trade Center sites demolished after the Islamic terrorist attacks on September 11, 2001 that killed thousands). In his column, Mr. Haberman compares the insult of an Islamic site of possible future anti-American teaching to a strip club and off-track betting shop that are already nearby ground zero.

He wrote, “No one is known to have protested the fact that three blocks from ground zero, on Murray Street off West Broadway, there is a strip joint. It prefers to call itself a gentlemen’s club. A man stood on the street corner the other day handing out free passes to willing gentlemen.”

Huh? How does a passive purveyor of porn compare to militant murdering terrorists? Pornography and incubators of mass murder are not morally equivalent.

The organizers of this unfunded mosque idea have tried to soften it up by referring to it as a cultural center. Will the mosque really be this multi-religious “cultural center” that it claims to be? Will women be allowed inside without being covered up with various forms of head shrouds? Will the acts on 9/11 and radical Islam be condemned? Of course not.

Mr. Haberman does not seem to be willing to admit publicly that the terrorists who attacked us on September 11, 2001, were all brainwashed by Islamic radicals in extremist mosques. Perhaps he is pandering to the mayor who supports the mosque. The NY Times would benefit from an acquisition by Bloomberg News.

The authorities will undoubtedly keep close tabs on this “Ground Zero mosque” if it is ever built, but critics are justified in raising concern. In contrast, no adult porn shop or off-track betting site ever produced a jihad of America-hating murderers.

How to eliminate head injury in football

Op-Ed August 21, 2010

Serious head injury in American football is commonplace and has received national attention within the last two years. The New York Giants quarterback, Eli Manning, is sitting out a few games due to head injury. Last season, star quarterback for the Florida Gators and Heisman Trophy winner, Tim Tebow, suffered yet another concussion that was witnessed by millions of sports fans, as did Super Bowl champ Ben Roethlisberger and many others.

Bryant Gumbel of HBO’s Real Sports was an import factor in bringing this problem to the mainstream. As a result of his show and subsequent coverage in the press, the NFL was pressured to make changes. There is now a mandatory time-off for players suffering concussion, and new posters have been placed in locker rooms. The concern is extending to off-the-field injuries as well. In 2009, then Tonight Show host Conan O’Brien gave head injury more national attention with his on-air concussion.

A recent study commissioned by the NFL found an astonishingly greater prevalence of Alzheimer’s-like memory loss in ex-NFL players. Young athletes in high school or lower grades are even more vulnerable to permanent brain damage after the initial concussion than adults. In addition, there is now new credible evidence from the same scientists at Boston University that Amyotrophic Lateral Sclerosis, ALS, also known as Lou Gehrig’s disease, is caused by head injury.

Concussions are one of the dirty secrets of football. What can be done to make America’s favorite sport safer?

The cause of the vast majority of concussions in football is the lack of enforcement of the rules dictating proper tackling and blocking. The helmet is currently used as the primary ramming tool, particularly at the higher levels, when in fact the facemask and helmet should theoretically never be used in contact. It is against the rules for a defensive player to dip his head and tackle headfirst with his helmet. On the offense, a proper block should use the arms and hands as the initial point of contact, and runners should not dip down and ram headfirst. In reality, however, virtually every block on the interior line and every running play uses the facemask and helmet as battering rams.

It would be quite feasible to enforce the existing rules of football that dictate the helmet should not be used as a weapon and the quality of play as seen by the spectator would not be diminished. Running backs should run with their facemasks up at all times. If a running back were to dip his head and spear forward, it should be a 15-yard penalty and loss of down. Likewise, offensive and defensive linemen should be penalized if their helmets clash.

The ground collisions with helmeted heads that cause injury cannot be easily prevented. However, a simple enforcement of the blocking, tackling, and running rules should eliminate a significant portion of the head (and spine) injuries in football. Also, preventing the premature return of head injured players will help reduce further injury as well.

Hines Ward of the Pittsburgh Steelers can lay out some the most vicious and entertaining blocks in all of football just by using his shoulder pads. Using the helmet as a weapon is cheating, unnecessary, and should be banned.

The pretentious way to pronounce Muslim

Op-Ed August 14, 2010

The old media TV news is infamous for using pretentious odd pronunciations of common words or new words of the day. Some examples include the numerous ways to botch “Qatar” as Cutter, etc, pronouncing Pakistan as “Pawkeestan” and Taliban as “Tollyban”.

The basic word Muslim is now being changed. Watch ABC Nightly News pronounce it multiple ways in the same story.

Why was Pfizer fined four times as much as Goldman Sachs?

Op-Ed August 2, 2010

The recent stock market collapse caused a $37 Trillion decrease in market cap valuation at its peak in 2008, according to Alan Greenspan. This triggered a global depression that persists to this day. Few disagree that the root cause of all of this was the irresponsible and fraudulent trading by Wall Street banks of complex financial instruments called CDO’s.

Most of these banks were taken down by their own stupidity. Lehman Brothers and Bear Stearns no longer exist. Merrill Lynch and others were forced into mergers. However, Goldman Sachs seemed to have actually profited on the bad mortgage-back securities that became worthless, and as such, has become a lightning rod for all of the global anger.

Congress paraded Goldman Sachs executives before hearings on multiple occasions as the politicians sensed their own demise this Fall. The BP oil spill redirected the news and the SEC investigation into Goldman was recently settled for approximately $550 Million. This amount represents only 1.2% of Goldman’s 2009 revenues or 4.1% of 2009 net income.

To address whether the Goldman Sachs SEC fine is fair and just, one needs to look at other corporate fines. Last September, drug giant Pfizer settled a DOJ investigation for $2.3 Billion over illegal marketing of the drug Bextra. That is four times the amount of the Goldman Sachs fine in absolute terms, or 4.6% of Pfizer 2009 revenue and 26.7% of 2009 net income (6.5 times the impact to Goldman Sachs). This was a much greater hit to Pfizer than was the fine to Goldman.

Pfizer’s crime against humanity was illegally marketing a drug that might have led to increased rates of death. That is indeed a serious offense. Goldman Sachs critics would say that their crime was in playing a significant role in separating $37 trillion in assets from stockholders (global GDP in 2009 was $58 Trillion according to the IMF) causing a global depression and massive unemployment.

Whether the Goldman Sachs fine was too small or the Pfizer settlement was too large is up to debate. One thing is clear: the financial industry lobbyists still rule supreme. The newly passed financial regulation bill is now in the hands of the lobbyists to iron out the details. Is there any doubt whether those details will favor the banks?

Use medical device technology to seal the Gulf oil leak

May 16, 2010

It is now painfully obvious that the team of “expert engineers” working on ad hoc solutions to seal the oil-spewing pipe at the bottom of the Gulf of Mexico is incompetent. Saturday Night Live lampooned them on May 15^th. British Petroleum (BP) needs to look outside the box and learn from surgeons and the medical device industry how to seal a tube leaking fluid; whether it be high pressure arterial blood or oil at the bottom of the sea.

Every trauma surgeon and vascular interventional doctor knows that the first thing to do to stop a gusher is to apply pressure to the leaking pipe. Doctors do not try to suck up the blood, store it in a vessel, then rapidly reinfuse it back into the patient (although this can be done in surgery, but not as the first step). The latest solution by BP is to insert a pipe into the leaking broken pipe, bring the oil to the surface, then store it in a tanker. This is an idiotic idea. BP should be focusing on ways to seal the pipe.

The medical device industry has invented catheter balloons that can apply massive amounts of pounds-per-square-inch pressure to surrounding walls: enough pressure to expand bone during kyphoplasty spine procedures. Within 24 hours, if a team of engineers from Medtronic were dispatched to the Gulf to advise the BP team, a crude rubber balloon bladder surrounding a “catheter” could be devised, inserted into the leaking oil pipes, inflated, and seal the oil leaks. BP, the White House, and the medical device industry need to make this happen ASAP.

Should Tiger Woods fire his inner circle?

Op-Ed

April 9, 2010

Tiger Woods roared back to competitive golf at The Masters after taking a five-month hiatus to repair his marriage and undergo rehab for an undisclosed addiction. In true champion form, he posted his best first round ever at the tournament. The fans cheered him and welcomed him back. America could use a nice role model and comeback story at this time of economic gloom and high unemployment.

Lurking behind this good story, however, is an inner circle of people around Mr. Woods who may have enabled his past indiscretions and abuses. If true, should Tiger make some changes to his staff?

Contradicting statements made by Mr. Woods that none of his closest staff knew about his numerous episodes of philandering, the current Vanity Fair reports otherwise. The article asserts that Byron Bell, President of Tiger Woods Design, may have assisted Tiger in arranging his affairs with young women. It also asserts that Tiger’s agent, Mark Steinberg, assisted on at least one occasion of covering up an affair once a national paper learned about it. Also, some of Mr. Woods’ few personal friends include infamous gamblers and womanizers Charles Barkley and Michael Jordan.

The New York Times reported that Tiger’s inner circle of staff and friends are fiercely loyal and that he has fired previous staff when they sought personal recognition. Has Tiger now just really assembled a team of enablers to his addictions? Can he possibly recover with these people still closely attached?

Walking off with Tiger after the 18^th hole of Augusta on the first round was Mr. Woods’ sports agent. Why does a sports agent need to even attend the Masters, much less be so close to him during play? The rest of his circle is also at the Masters including Mr. Bell, his publicist, and a reported 90 bodyguards. Charles Barkley was in the media for “reaching out” to Tiger after his rehab. Jack Nicklaus, Bobby Jones, and Arnold Palmer never had such an entourage at major tournaments.

Addiction expert George Kolodner, MD, co-founder and Medical Director of the Kolmac Clinic, one of the most respected rehab facilities in the East Coast, commented, “We encourage our patients to establish a sober social network. We ask them to look at their current relationships and decide which people are understanding and supportive of their recovery and which ones are not and are unlikely to change. It is the last group that we suggest the patients keep at a distance until their recovery is more stable.”

The fact that Tiger Woods has made no changes to his inner circle of staff and “friends” who were around during his dark days of abuse is very concerning for his prospects of a long-term recovery. The similarities to the opportunists surrounding Howard Hughes, Elvis Presley, Michael Jackson, Anna Nicole Smith, etc, are eerie. Do Tiger’s closest friends know too many details about his bad behavior making them difficult to fire?

The only close confidantes that Tiger Woods should have around him are his caddy, swing coach, doctors, reputable accountants, wife and family. A priest or Buddhist monk might help as well. The recidivism rate for some addictions is 90% and he needs all the help he can get.

Who were the suckers buying the Goldman Sachs junk and why?

Op-Ed  BatteryPark.TV, April 22, 2010

One of the key defenses used by Goldman Sachs in the SEC fraud case is that sophisticated institutional investors purchased the mortgage derivative product it sold, known as Abacus, and should have known better. “Mom and pop” investors were not scammed. Goldman Sachs is correct (although they may still be guilty of not disclosing the little tidbit about the hedge fund Paulson & Co. choosing the composition of Abacus as it simultaneously shorted the product).

How were these “sophisticated investors” duped so badly? For that matter, how did Merrill Lynch, Lehman Brothers, Bear Stearns, Citigroup, etc. all get stuck owning so much toxic debt?

Herd mentality creating a false sense of security is the fundamental reason most of Wall Street, the Fed Chairman, the Treasury Secretary, the President of the United States, and the rest of the world, were all caught off guard. Goldman Sachs was unquestionably the smartest firm with the best reputation at the time and was leading the way in creating various types of derivatives related to mortgages. The lesser firms followed Goldman’s lead.

In 2007, BatteryPark.TV attended a Citigroup conference at the Waldorf Hotel. One of the speakers was from a prominent private equity firm. He commented how surprised he was at the demand for CDO products and how little the “sophisticated investors” cared about the quality of the mortgages. They just wanted instruments to help them make hedges in their portfolios, he said.

This conference took place more than a year before the collapse of the markets but not many prop-traders at the Wall Street banks seemed to heed the warnings. Ironically, Citigroup, host of the conference, would later become decimated and nearly liquidated by the bad CDO debt on its books. Only a $45 Billion government bailout saved them (of which, $20 B is still owed).

Like all bubbles, many people actually trading the CDO’s knew better, but were lured into the risk because everyone else seemed to be doing it. Their highest supervisors condoned the behavior. How could such incompetent traders within Wall Street banks be allowed to “prop trade” such risky derivatives? Warren Buffet called derivatives, “weapons of mass financial destruction”.

In a previous commentary (A Case to ban Prop Trading), the perverse incentives of Wall Street that reward cronyism more than competence are described. As a result, people with little to no experience with derivative trading in real hedge funds were put in charge of the purchasing and trading of these complex financial instruments. The same people are under immense short-term pressure to make profit regardless of future risk. As a result, Wall Street broker dealers practicing proprietary trading were the biggest suckers in the game purchasing the junk that Goldman Sachs was selling. Meanwhile, Goldman was going short on the mortgage market taking an opposite bet to the banks buying its products (e.g. the Abacus tranche of CDO’s).

One of the main components of the “Volcker Rule” that may become part of the final financial regulatory bill supported by President Obama will be a ban on “prop trading” by banks. It seems prudent to separate the trading of equities and derivatives from the unqualified executives working at the hybrid Wall Street/bank firms. They have proven their incompetence many times over the years.

A Trillion here, a trillion there

In an alarming anecdote supporting the notion that Americans have no concept how much the government is spending, NBC news mistakenly confused $900 Billion with $900 Trillion when describing the healthcare reform cost.

The Best of Battery Park City and Vicinity: 2009

BatteryPark.TV took a stab at listing some the best resources in Battery Park City (BPC) and the surrounding neighborhoods. Please post any comments you may have.

Best Park: Wagner Park

We could have chosen virtually any of the parks in Battery Park City or Battery Park. Tear Drop Park, for example, rivals Disney Land. We chose Wagner Park for its impressive horticulture displays and amazing views of the Hudson and Statue of Liberty. Also, on many occasions during a summer day, one can have the entire park to themselves. We have several videos of the park (Monarch butterflies, Fall flowers).

Best place to catch a shark: The esplanade

An angler on the esplanade caught a small sand shark recently. This little posting went viral as New York Magazine picked it up.

Best Monument: The Irish Hunger Memorial

Constructed shortly after “September 11”, The Irish Hunger Memorial is a meticulously recreated chunk of Ireland. BPCA Chairman James Gill gave us a tour.

Best Hotel: The Greenwich Hotel

An outstanding boutique, The Greenwich Hotel, quietly opened up in nearby Tribeca and took the gold medal. Keeping with Robert De Niro’s demand for excellence, this hotel nailed the details, from the imported Japanese wood in the pool area to the furniture in the rooms. The pool and the spa are probably the best in all of New York City. GM Philip Truelove gave us a tour.

The New York economy took its toll on the former best hotel in BPC (and best in the world according to Institutional Investor Magazine), the Ritz-Carlton. The corporate suits trimmed back on amenities like the 14^th floor roof bar. 2010 might be a comeback year for the Ritz.

Best Museum: The Fraunces Tavern

Downtown New York City is where the most important events of the Revolutionary War took place, and The Fraunces Tavern was a key location. George Washington and many others made it their “hang out” and held important meetings regarding the war. Anthony Wellman gave us a nice tour of the museum and restaurant.

The Skyscraper Museum is also an interesting way to spend a few hours. Take a look.

Best Restaurant Overall: Bouley Upstairs

Battery Park City has a great demand for quality restaurants. As the economy recovers and the new Goldman Sachs crowd comes to the area, hopefully more restaurants will open up actually within BPC, west of the highway.

For 2009, we selected Bouley Upstairs as the best overall restaurant in the area. Famed chef David Bouley opened “Upstairs” next to his larger, more formal, Bouley. “Upstairs” is a small cozy dining space with an open kitchen. Chef Leo Marino, a new addition to the team, will be a just few feet away from you if you have any special requests. The sushi/Japanese kitchen in the opposite corner is quite respectable as well.

Most types of cuisine can be ordered, ranging from French to American to Japanese. The menu is very reasonably priced with many entrees under $15. But make no mistake, the quality is the same as the full Bouley around the corner. That is the beauty of “Upstairs”.

At “Upstairs”, one can sit next to Meryl Streep, see the food prepared nearby, and have a complimentary chocolate truffle made across the street by the Bouley pastry chef, and all for under $30. The “secret” to the success of “Upstairs” is that David Bouley shows up to work six days a week and cares about quality.

Best Coffee: Kaffe 1668

There is a big demand for a coffee house with a full-time barista that would offer a variety of beans, ground on the spot, and brewed on a cup-by-cup basis. Battery Park City now has such a haven: Kaffe 1668.

Best fried Chicken: Tibecas Cornerstone

This quaint window for take out in high-rent Tribeca might be extinct soon, but take advantage while you ca. they make skinless dipped fried chicken and it is inexpensive. Click here for more details.

Best Italian: Locanda Verde

Opened recently in the building of The Greenwich Hotel, Locanda Verde covers the bases well. The social scene attracts the A-list and it is backed up by the food. Chef Andrew Carmellini has created some novel appetizers that will make you take notice, in addition to the main entrees. Locanda is another piece of the Robert De Niro collection of fine dining.

For a smaller dining room experience with less of a scene, try Il Giglio. It is essentially a clone of the more famous Il Mulino with the same absurdly-high-quality-ingredients.

Best Steak: You decide

The steakhouses in the area each offer a unique style and one cannot really pick a favorite. We toured Dylan Prime and Palm. Take a look for yourself. Il Giglio serves a great cut of beef as well.

Best Chinese: Mr. Chow’s

The next time you have a group of fashion models to party with, take them to Mr Chow’s new Tribeca location across from Bubby’s and down the street from The Greenwich Hotel. The menu offers smaller tapas-like selections conducive for groups. Nearer to BPC, Au Mandarin has the best hot-sour soup and General Tso’s chicken.

Best Working Man’s Deli: Cordato’s

For the average Joe who wants a good lunch for under $10, delivered fast with fresh French fries, we select Cordato’s as the best deli. The triple-decker sandwiches are excellent.

Best Upscale Deli: Samantha’s

For a more expensive sandwich or take-home meal, Samantha’s Italian deli is the place. At lunchtime, workers from the World Financial Centers line up ten to twenty deep. Have them place your Italian sub in the pizza oven to toast it up.

If you prefer a kosher deli, Izzy and Nats just opened up this year. They might give Samantha’s some competition for our 2010 list.

Best Bagel: You decide

Two restaurants in BPC make their own bagels on-location: Izzy and Nats and Pick-a-Bagel. You decide which is better.

Best Beer Delivery: NA

With the closing of JJ’s carry out on South End Avenue, there are no places that deliver beer, snacks, etc. to BPC for reasonable prices. The smart entrepreneur who meets this demand will make a killing. The space is open.

Best Grocery Store: Whole Foods

The opening of Whole Foods in Tribeca met a huge demand in the area. The meat and fish sections are exemplary, as is the coffee section (see Best Coffee mention above)

Best Outdoor Drinking: PJ Clarke’s

The view of the North Cove Marina and Hudson River from the outdoor dining area by PJ Clarke’s makes for the best summertime outdoor hangout. The service is not always the best, but you will not likely notice after a few pints.

Best cocktails: Ritz-Carlton

For well-prepared cocktails and martinis, try the Ritz-Carlton in BPC. Tell Manny that we sent you. Also, Vintry Wine and Whiskey is a new place that just opened over on Stone Street and makes some interesting whiskey-based cocktails.

Best Thunderstorm: July 26

The most impressive display of the year by Mother Nature was the tornado-spawning front that passed over New York Harbor on July 26. Take a look.

Now, for the not so desirable “Best” list.

Best disturber of the peace: Con Edison

This November, Con Edison decided to dig up West Thames Street, yet again, and jackhammer into the early morning. This outraged the neighborhood. See the video. The company who runs the New York Waterway ferries was a close second as Best Disturber of the Peace. The new ferry added in the early morning schedule was rattling windows in Gateway Plaza.

Best place to get injured or killed: The Albany Street crossing

The construction of the West Side Highway and closure of the pedestrian bridge has created a deadly risk for people trying to cross the street. One person has been killed and at least one other was severely injured. Manhattan Borough President Stringer discussed the matter with BP.TV.

Disclosure

There are no financial disclosures to report. All of the choices were made on merit alone and are not commercials. We tried to create video tours of as many selections as we could.

The Tonight Show with Jimmy Fallon?

January 16, 2010

Jimmy Fallon may be the big winner of the late night talk show in-fighting. With Conan O’Brien out of the picture, and Jay Leno likely to retire within a few years, Jimmy may be the heir apparent to the coveted Tonight Show. At the very least, the viewership of NBC late night will be less diluted.

Conan O’Brien may be a net winner as well, if he can land at Fox or another network. Conan was set up to fail at NBC and should do well in a better situation.

Jeff Zucker of NBC should have foreseen how his big experiment of moving Leno to 10:00 PM would have failed. Conan’s ratings took a 68% dive (6.5 Million viewers to 2.1 Million) not because the Tonight Show was so bad and Conan suddenly became a lemon, but rather because his viewership was cannibalized by the 10:00 PM Leno show. In addition, viewers are loyal and many migrated to Leno without being willing to adopt a new guy. Conan did not have a fighting chance. These are basics of “old media” broadcast TV that Zucker and crew should have known.

Could it be that Zucker is not the brightest person in the world and just weaseled his way up the ladder riding on the success of Seinfeld and Friends shows of the 90’s? No. Impossible.

Conan’s lawyer shares some blame as well. Given that his move to 11:30 was all about the “time slot”, as was the interrelated Jay Leno time slot, how is it conceivable that Conan’s contract did not address the possibility of fickle TV executives changing things around? Perhaps Conan simply did not have much leverage years ago when the deals were made.

The lesson being taught on a nightly basis now, as the talk show hosts display the dysfunction common within TV-land, is that broadcast TV is a terminal patient with “6-months to live”. Most executives from the “old media” world are inbred cronies with no hope of radically changing practice to take advantage of the “new media” Internet programming coming to your living room soon.

The “Botax” and mammogram guidelines

Dr. Jennifer Walden, one of the leading plastic and reconstructive surgeons in New York, discusses her opposition to the “Botax” tax on cosmetic plastic surgery proposed in the Senate healthcare reform bill. She also addresses the controversial recent AHRQ guidelines that recommended against routine mammography for women under the age of 50.

We met Dr. Walden at The White House. The interview may be viewed below.