Monthly Archives: March 2004

UTEP Coach Gillispie accepts A&M basketball job

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Billy Gillispie, coach at the University of Texas-El Paso, will be introduced as the new Texas A&M basketball coach this afternoon. Gillispie, 44, is a native Texan who coached at four high schools and a junior college in Texas before becoming a college assistant coach at Baylor, Tulsa and Illinois. He took over the head coaching job at UTEP shortly before the start of the 2002-03 season, and the Miners went 6-24. This season, UTEP was 24-8 and advanced to the NCAA Tournament, which was the biggest turnaround in the nation. The Miners lost their first-round game to Maryland last week in a close game.
Gillispie takes over at A&M from Melvin Watkins, who resigned under pressure after a 7-21 season. In six years under Watkins, the Aggies were 60-112. The Aggies have not been to the NCAA Basketball Tournament since 1987.
Given A&M’s alumni support and its proximity to the Houston metropolitan area, it is puzzling that the Ags have not been able to establish a decent basketball program. My sense is that Gillispie is a good hire for the reason that he has deep Texas recruiting roots and the Ags desperately need to establish sound Texas recruiting pipelines. However, Gillispie has his work cut out — A&M basketball has become a coaching graveyard, and that reputation is very hard to change.

Like a good neighbor

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This Chronicle article from yesterday reports on the deplorable grade the Port of Houston was given recently in a review released by the Natural Resources Defense Council, a nationwide environmental advocacy group. It was the lowest grade given to any of the nation’s 10 largest ports. Here is a copy of the full report.
For as long as I can remember, the Port of Houston has had a lousy relationship with its neighbors in the eastern part of Harris County, and this report reflects one of the reasons why. “We are up against an opponent that not only has a bad local reputation but at this point also a bad national reputation,” said Nancy Edmonson, mayor of Shoreacres. Public officials in Galena Park, another suburban community near the Port, have made similar public statements over the years.
Here’s hoping that elected officials take notice of the mess that the Port of Houston has become and do something about it, like appointing some real reformers to the Port’s Board. However, I will not hold my breath waiting for that to occur. As we have seen recently with several compliant corporate boards that have overseen disastrous judgment by management, it’s easier to appoint friends and political hacks to these boards than people who will really roll up their sleeves and perform the hard work that is the duty of a board member.

New York City announces ambitious stadium plan

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This NY Times article indicates that New York City might finally have decided upon a viable deal to develop the long-awaited West Side football stadium.

Yeah, but we can take it to the hoop!

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The NY Times reports that only four of the Sweet Sixteen teams remaining in the NCAA Basketball Tournament ? Duke, Kansas, Vanderbilt and Xavier ? have posted graduation rates of 50 percent or better for their players.
That’s what you get when you mask minor league basketball with the veneer of intercollegiate athletics.

Will “The Alamo” be Eisner’s Waterloo?

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This NY Times article details the troubled development of Walt Disney Company‘s new movie, “The Alamo.”
Although not mentioned in this article, I believe that the movie is based on the Stephen Harrigan’s 2001 historical novel, “Gates of the Alamo,” which is an enjoyable read. However, the best book on the Battle of the Alamo in the context of the Texas Revolution is “Texian Iliad,” a 1996 masterpiece written by Stephen L. Hardin, a professor of history at Victoria College in southeast Texas.

The sad case of Jamie Olis

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This NY Times article reports on the sad case of a former midlevel executive of Houston-based Dynegy, the energy company that attempted to merge with Enron and then called off the deal shortly before Enron filed bankruptcy in December, 2001. Dynegy subsequently went into its own tailspin that cost its former CEO his job, but has to date avoided bankruptcy.
On Thursday, Jamie Olis faces a federal probation department recommendation that he serve 24 to 30 years in prison for organizing a scheme to falsify Dynegy’s books. Mr. Olis and two former associates at Dynegy were found guilty last year of devising a secret project to disguise a $300 million loan as cash flow. Mr. Olis, a 38-year-old with an infant daughter, declined to strike a plea bargain, choosing instead to take his chances at trial, where he elected not to testify. As noted in earlier posts here regarding the Martha Stewart trial, the strategy of a white collar defendant choosing not to testify during trial is a risky move. In this case, Mr. Olis’ lawyers were unsuccessful in their defense of portraying Mr. Olis as a corporate soldier doing as he was told and blaming his Dynegy superiors for the scheme.
If U.S. District Judge Sim Lake agrees with the probation department’s sentencing recommendation on Mr. Olis, it would be the most severe prison term for a business crime in recent memory. The two other Dynegy officials convicted of taking part in the scheme struck plea deals before trial giving them maximum sentences of five years. Mr. Olis’s lawyers are seeking a sentence of 5 to 10 years, arguing both that he is not responsible for all of Dynegy’s losses and also that he has no previous criminal record.
Mr. Olis never rose above a position of vice president for finance at Dynegy after serving as the senior director of tax planning. Unlike defendants in other higher-profile corporate fraud cases, he never amassed a fortune from his time at Dynegy. The most money he made at Dynegy in any year was a salary of $162,000 and a bonus of $110,000, in addition to selling Dynegy stock worth about $200,000.
You can bet that more than a few criminal defense attorneys for former Enron executives will be watching the result of Mr. Olis’ sentencing closely.

John Cornyn and Barney Frank debate (?) gay marriage

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Texas senator John Cornyn and Massachusetts congressman Barney Frank spiced a Senate Judciary Committee hearing yesterday by getting into it on the issue of gay marriage.
For what it’s worth, I am not sold on gay marriage, but conclusory statements such as those made by Senator Cornyn yesterday do little to advance the political debate over gay marriage. What is his basis for the statement that gay marriage will undermine the institution of marriage? Statistical evidence? Scientific evidence? Or is his statement based on religious opposition to gay marriage? I do not know the basis for Senator Cornyn’s opposition to gay marriage, but the only way to have a productive political debate is to support one’s pronouncement on the issue with a persuasive (or even non-persuasive, if that is the case) basis for such pronouncement.
This related story deals with an issue that has the divorce lawyers salivating.

Chronicle catching up on Shell story

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The Chronicle leads with this Reuters News Service story today that Royal/Dutch Shell may face a Justice Department criminal investigation in connection with its oil and gas reserve writedowns over the past two months.
The Chronicle does not exactly have a scoop on this story. The Justice Department announced that it had opened inquiry on the matter on March 16.

New Medicare projections

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This NY Times article reports on the Medicare trustees’ report today that Medicare will need to dip into its trust fund this year to pay increasing expenditures and that the program will become insolvent by 2019 unless changes are made in the program. The 2019 go-broke date for the Medicare trust fund is seven years sooner than what the trustees projected last year.
Here is a copy of the entire report.
The trustees report that Medicare’s deteriorating financial condition is largely the result of the new Medicare prescription drug law that will increase costs by more than $500 billion over the next 10 years. The trustees also noted that projected lower tax receipts devoted to the program and higher expenditures for inpatient hospital care also are contributing to the growing financial problem.
Thomas Saving, a distinguished economics professor at Texas A&M University is one of the Medicare trustees who figures prominently in the report.

Baseball Prospectus on the Astros’ bench

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Amid the mainstream media’s mindless analysis of Major League Baseball in general and the Houston Astros in particular, Baseball Prospectus provides an objective, and less than encouraging, analysis of the Astros’ bench players for the upcoming season:

We’ve put off discussing the Astros’ bench options this spring since the outlook is, in a word, depressing. They basically have Jason Lane and a bunch of guys who are, um, alive. Technically, anyway. But it’s time we got on with it.
Long-Time Farmhand, First-Time Backup: Speaking of the undead, someone has to be on hand in case Brad Ausmus is ever out of the lineup. With John Buck failing to develop at all, Raul Chavez has been tabbed for the duties this year. Unsurprisingly, PECOTA figures Chavez would likely out-hit Ausmus, but the latter’s glove and organizational track record results in zero chance that he’ll be pulled from the lineup until (and even if) Buck is ready.
Scrubs in the Infield: With Jose Vizcaino is entrenched as the fifth infielder for another year, and no obvious plan for the sixth spot, the competition would seem wide open, but most of the apparent candidates were eliminated from the get-go. Chris Burke and Tom Whiteman need to play every day at New Orleans to see if they’ll finally amount to something, so have no business rotting on the big club’s bench. David Matranga, who spent time in Houston last year, has long since been outrighted off the 40-man roster. That pretty much boils the situation down to Eric Bruntlett, who would most likely ride pine at either level, and the carcass of John Valentin, who was brought in to light a fire under a youngster to be named later, but has managed just a single in 21 at-bats this spring. Expect Bruntlett to emerge as a victor, as there’s no reason for Valentin to force someone through waivers, even in an organization this veteran-focused.
Outfield Depth: As mentioned above, Lane will server as the fourth outfielder, inspiring fantasy players everywhere to hope for an injury to Craig Biggio. Since the internal options for fifth outfielder are even worse than for the sixth infielder, Orlando Palmeiro was hauled in despite an uninspiring glove and a projected .240 EqA. Was it really that important to give him $750K instead of keeping Colin Porter or Henri Stanley around to play for the minimum? It seems impossible to believe, but given the insistence on re-upping guys like Ausmus and Vizcaino, it seems pretty clear that the front office is using an evaluation system even more peculiar than the A’s defensive system.

In this related Chronicle story, Astros’ owner Drayton McLane publicly denies the persistent local rumor that he is negotiating to sell the club to Houston restaurateur Tilman Fertitta, CEO of Landry’s, Inc.