Will the Oracle of Omaha serve up the sacrifical lambs?

Buffett%20120507.jpgSo, Warren Buffett finally gets to experience the price of ratting out his business associates (background here, here, here and here).
As noted in the foregoing posts, I seriously doubt that the transactions involved in this prosecution are the product of any criminal conduct. However, does anyone really believe that Buffett did not fully understand the nature, scope and purpose of these transactions? Ah, the benefits of being the mainstream media’s folk hero of business.

Now that’s pressure

evel%20knievel0508.jpg(Dom Furore/Golf Digest photo) My old friend and prominent Las Vegas criminal defense attorney David Chesnoff introduced me to the late Evel Knievel back in the mid-1980’s when we bumped into him while playing golf at Las Vegas Country Club. That led to an afternoon of David telling me stories about the high-stakes Vegas golf games in which Knievel regularly played, a good number of which involved Knievel’s legendary ability to hold up well under extraordinary pressure.
Knievel’s death last week reminded me of another story about Knievel thriving under pressure that Knievel told in this Golf Digest inteview from a couple of years ago:

I was playing 21 at the Aladdin in Las Vegas, betting $10,000 a hand. Arnold Palmer and Winnie are standing right behind me, watching. And I’m losing. The dealer is pulling 20 every time, and although I’m pulling my share of 20s, too, I can’t win a hand, and I’m losing a lot of money. And I’m getting really angry. The next hand he deals me a 20, and he’s got a face card showing. I’m certain he has 20, and I just can’t bear tying again. So I ask for a hit.
The dealer freaks out, shuts the table down and screams for Ash Resnick, who runs the casino. Ash comes along and is told I want to hit 20. He looks at me for a long time and then says, “Give the kid a hit.” The dealer gives me an ace, and when I turn around, Arnold’s eyes are this big, and Winnie looks like she’s going to be sick.
“I know what pressure is,” Arnold said, “but you’re too much.”

Read the entire interview here.

For the uncommonly curious

laptop-120507.jpgI swear, there isn’t much that you can’t find out something about on the Web these days. Check out this list — 25 Unexpectedly Useful Websites for the Uncommonly Curious.

Did the DOJ Hide the Ball in the Olis Case?

This earlier post reported on how the full story about the Department of Justice’s sordid prosecution of former Dynegy executive Jamie Olis is finally starting to come out in connection with a civil trial earlier this year by Olis’ former attorney and Olis’ recent motion to set aside his conviction.

Now, Ellen Podgor reports that Olis’ new legal team has filed a motion that Olis be released from prison on bond pending the outcome of the motion to set aside his conviction, and the basis of the motion is that the DOJ failed to turnover to the Olis defense in violation of its obligation under U.S. v. Brady evidence regarding the DOJ’s frequent communications with Dynegy’s employees and attorneys during the prosecution of Olis. As Professor Podgor asks:

“What was the collective knowledge of the government here, and was the discovery properly provided to [Olis’] defense counsel prior to trial?”

This is getting very interesting.

The government and health care finance reform

Arnold%20Kling%20120407.jpgEconLog’s Arnold Kling is one of America’s best thinkers on economic issues relating to the U.S. health care finance system (previous posts here), so this recent TCS Daily op-ed is required reading for anyone interested in the proper role of government in a reformed health care finance system. In so doing, Kling summarizes well the current state of stress in the U.S. health care finance system:

All of our health care finance systems are under stress. The government system is completely unsound–the Titanic headed toward the iceberg of unfunded liabilities. Employer-provided health insurance is a questionable concept in theory that is unraveling in practice. The individual insurance market is a disaster, with something like 3/4 of all families who do not get insurance through work or government electing to remain uninsured.

Kling sums up his view of the proper role of governement in reforming the health care finance system in the following manner:

I believe that there are things that government can do to enhance access, improve quality, and lower the cost of health care. However, I believe that we would be best served by having government focus on the policies that I put into the “good” category–clinics in poor neighborhoods, vouchers, high-risk pools, and better information on the effectiveness of services and the performance of providers. If we look to government to take a larger role in running our health care system, then my prediction is that things will get ugly.

Dallas SWAT takes on the VFW poker game

DallasSWAT200x150.jpgPrevious posts here, here and here reported on the Dallas SWAT team’s dangerous and absurdly over-the-top campaign over the past year to terrorize participants in private poker games.
Now, Reason.TV has produced the video below with Drew Carey narrating about Dallas SWAT’s latest debacle — raiding a regular poker game at a local VFW Hall in Dallas. This is certificable proof that Dallas SWAT does not have enough work to stay busy. H/T Radley Balko.

2007 Weekly local football review

Schaub%20injured%20120307.jpg(AP Photo/Mark Humphrey; previous weekly reviews are here)
Titans 28 Texans 20
Let’s see here. The Texans (5-7) lose another game on their way to their sixth straight losing season and lose their starting QB Matt Schaub to injury. Schaub is injured after being brutally hammered two plays in a row when two different Titan defensive ends waltzed virtually untouched threw the Texans’ offensive line, which has been a chronic weak spot of the team for its entire six year existence. Schaub has now had to leave three different games this year with injuries and missed one game entirely (Oakland) that the Texans won.
Viewing this landscapte, the Chronicle’s Richard Justice reacts to all this by expressing concern that second-year coach Gary Kubiak might not be the right coach for the Texans:

Now the Texans are at another crossroads. They’ve got four games left in a season that’s again going nowhere. I hope Bob McNair takes a hard look at his franchise and asks this question: ”Are we headed in the right direction? Are we getting the pieces in place? Are Rick Smith and Gary Kubiak the guys that can get us to the playoffs?”
He can ask himself that question today, but he really should answer it at the end of the season. Kubiak and Smith have had two. That’s enough to know whether they’re what he hoped they’d be. When you see the turnovers and penalties, when you see leads consistently disappear, it makes you wonder.

Of course, this is the same Richard Justice who wrote the following only two months ago:

Continue reading

Art Briles Moves from Houston to Baylor

Art Briles resigned last week as head coach of the University of Houston football program and accepted the same position at Baylor University and the change generated the usual knashing of teeth some sectors of the UH community that typically follows such moves.

However, Briles’ move surprised no one, except for perhaps a few folks in West Texas who figured that he would hold out at Houston until Mike Leach at Texas Tech moved on and Briles could lay claim to his dream job.

Although Briles was reasonably successful at Houston, he never really seemed at home as the Cougars’ coach.

Most folks don’t realize that Houston’s program is still relatively young by college football standards and Briles never was comfortable with the multi-tasked job of leading the Houston program into a Bowl Championship Series conference.

The Houston program burst on to the national stage during the 25 year tenure of Bill Yeoman, the outstanding and innovative coach of the Cougars from 1960-85. When UH hires a new head coach to replace Briles, that will be the sixth head coach in the 22 years since Coach Yeoman retired. And during that span, there have been even more UH athletic directors than football coaches.

In many ways, the UH football program reflects the struggles of the University overall.

As noted repeatedly on this blog, the University of Houston is a relatively young state research university (only since the 1963) that the State of Texas has consistently shortchanged in financial support in comparison to Texas’ two flagship research institutions, the University of Texas at Austin and Texas A&M University.

Inasmuch as the UH football program is also relatively young in comparison to the UT and A&M programs, it pales in terms of fan and financial support in comparison to its older and better-endowed competitors.

Nevertheless, Houston’s football and other athletic programs competed quite well with its better-endowed neighbors during the 20 year period in which UH participated in the old Southwest Conference. As with the University of Houston generally, the UH athletic program has produced more “bang for the buck” than any other athletic program in Texas over the past 50 years.

Despite that legacy, when Briles took over in 2003, Houston’s football program had been lagging badly for a decade coinciding with the demise of the Southwest Conference.

Former Coach Yeoman campaigned hard at the time to have UH hire his former player Briles (who was a Texas Tech assistant coach at the time), even though it was clear even then that Briles had his eye on the Texas Tech head coaching job. Briles has been angling for the Tech head job for years because Tech Coach Leach apparently has been trying to get out of Lubbock almost continuously since he got there.

Unfortunately for Briles and other prospective coaches for the Tech job, Leach apparently doesn’t seem to perform nearly as well in those pre-hiring interviews as he does while directing his high-powered offense on Saturday afternoons.

Thus, when the Baylor job came open, Briles elected to take it and stake his claim to a program in a Bowl Championship Series conference.

And that’s the real difference in the two jobs. Houston has the potential to be one of the top non-BCS conference programs, but Baylor is already in a BCS conference. Thus, Baylor has the advantage of having access to a share of the considerable sums of money that the BCS pays to the BCS-member conferences.

As a result, even a downtrodden program such as Baylor in a BCS conference is likely to have more resources than a potentially better-situated but non-BCS conference program such as UH, at least for the time being.

My sense is that Briles is a reasonably good hire for Baylor. He is West Texas through and through, and that should fit in well in Waco. He did a good job at UH, although his teams’ offensive flair was offset by often-poor defensive play.

Briles took over a UH program that had gone 8-26 in the previous three seasons, including an ugly 0-11 slate in former UH Coach Dana Dimel’s second season in 2002. Briles immediately brought in talented freshman QB Kevin Kolb, around whom he built his innovative offense, which includes variations on the spread, the Wing-T and the Single Wing offenses.

Briles and Kolb led the Cougars to a 7-5 record in that first season, including a close bowl loss to Hawaii. In 2004, the Cougars took a step backward during an uninspired 3-8 season, but bounced back the following season when they went 6-6 with a blowout bowl loss to Kansas in the Fort Worth Bowl.

In 2006, everything came together for Briles, Kolb and the Coogs as they went 10-4, won UH’s second Conference USA championship and lost the Liberty Bowl in a close game to South Carolina.

This past season, Briles led the Coogs to an 8-4 record and Texas Bowl berth in his first “after-Kolb” season, although Houston’s progress appeared stunted late in the season around the time the Baylor job came open.

I don’t know if Briles’ interest in the job had anything to do with that downturn, but Briles and a number of key members of his staff have bailed out on coaching the Cougars in the Texas Bowl. I’m reasonably sure that has not left a pleasant taste in the mouth of UH Athletic Director, Dave Maggard.

Although Briles’ did a good job of turning around the UH program, it would be a stretch to say that his UH record was outstanding.

Based on final Massey Composite ratings, Briles had one top 70 team at UH, the 2006 C-USA championship team. UH under Briles was 6-24 against teams that finished in the Top 75, including 1-8 against non-conference teams in the Top 75.

Moreover, Briles tenure at UH coincided with a downturn in the quality of C-USA teams as teams such as Rice, Marshall, SMU, and UTEP entered the league and powers such as Louisville, Cincy and USF left.

In C-USA games, Briles’ teams were 5-14 against C-USA teams with a winning a record and won only one road game against a C-USA team that had a winning record.

Briles’ teams were 28-4 against teams that finished out of the Top 75 or were Division 1-AA, so his teams didn’t lose much to bad teams — about once a year. UH’s best win under Briles was over Oklahoma State in 2006, but really Briles’ record at UH is nothing out of the ordinary.

Whether Briles’ decision made a good decision in taking the Baylor job is a tougher call.

While Briles could have had as long a contract as he wanted at UH, Baylor has become a coaching graveyard.

Recently-fired coach Guy Morriss is a well-respected coach within the profession and he couldn’t get over the hump in the five seasons that he coached there.

Briles’ Baylor contract calls for $1.8 million annually over seven years, but a buyout of that contract is almost certainly far less than that.

So, if Briles stinks up the joint in Waco over his first three seasons, then he could very well be looking at the same fate as Morriss while making considerably less than if he had simply stayed at UH.

Expectations at Baylor at this point are not the same as UH, so Briles first goal will simply be to get the Bears to a .500 season in the Big 12 South. Taking a peak at the 2008 Baylor schedule, that does not appear to be likely in his first season:

Aug. 30 Wake Forest (probable loss)
Sept. 6 Northwestern State (toss up)
Sept. 13 Washington State (toss up)
Sept. 20 at Connecticut (probable loss)
Oct. 4 Oklahoma (loss)
Oct. 11 Iowa State (toss up)
Oct. 18 at Oklahoma State (probable loss)
Oct. 25 at Nebraska (probable loss)
Nov. 1 Missouri (loss)
Nov. 8 at Texas (loss)
Nov. 15 Texas A&M (probable loss)
Nov. 22 at Texas Tech (loss)
Toss ups: 3
Probable losses: 5
Sure losses: 4

3-9 overall and 1-7 in the Big 12 looks likely, so Briles’ honeymoon in Waco will probably be short. And the Big 12 South is not a friendly place in which to experience short honeymoons.

Who should UH hire to replace Briles?

Within the coaching profession, the UH head coaching position is considered an attractive one, albeit not one without problems. My sense is that the UH should hire an experienced coach who has recruited in the Cougars’ usual pipelines for players and who has experience in raising funds.

The next big step for the Houston program is either the upgrade of Robertson Stadium into a decent college football stadium or the construction of a new stadium. Either of such endeavors is going to cost between $100-$150 million, so hiring an experienced coach who is interested in working in Houston for the long term while being involved in a facilities fund-raising campaign makes a lot of sense.

Kind of makes you wish that there were still college football coaches like Bill Yeoman out there, doesn’t it?

The Dickie Scruggs affair

Scruggs%20Katrina%20G.gifMississippi plaintiff’s lawyer Richard “Dickie” Scruggs has been the subject of a couple of previous posts (here, here and here) regarding the detrimental impact that his litigation approach is having on his home state’s insurance markets.
Detrimental impact on insurance markets is one thing. But an indictment alleging bribery of a judge is another level of trouble altogether. Walter Olson’s Overlawyered is the go-to site for information on the Dickie Scruggs affair, with posts here, here and here linking to news reports and blog posts in the first week after the indictment. Don’t miss Walter’s coverage. It’s first rate.

Try to do this at the age of 71

bob_charles.jpgBob Charles of New Zealand was a very good PGA Tour golfer back in the 1960’s and 70’s when he won six PGA Tour events, including both the Houston Open and the British Open in 1963. Over his career, Charles has won 70 events worldwide.
However, none of those many achievements is as remarkable as what Charles pulled off earlier this weekend. The 71 year-old shot a 68 in the second round of the New Zealand Open — a tournament that he first played in 53 years ago — to become the oldest player ever to make the cut in a European Tour event. The previous European Tour record holder was Christy O’Connor, who made the Irish Open cut in 1989 at the age of 64. The late Sam Snead holds the PGA Tour record, making a cut at the 1979 Westchester Classic at the age of 67.
After his remarkable achievement, Charles talked about how his round was almost derailed before it started by a “senior moment”:

Sir Bob later admitted to having had a “senior moment” at the start of the day which nearly scuppered his record-breaking round before it had begun.
Turning up at the wrong tee (the 1st, understandably enough) for his 8am start, Sir Bob was forced to commandeer a buggy to transport him to his true starting tee (the 10th) which he reached with 30 seconds to spare.
“Oh well, I’m entitled to be forgetful at my age,” he laughed later.