2008 Weekly local football review

Kubiak angry (AP Photo/David Einsel; previous weekly reviews are here)

Ravens 41 Texans 13

Oh my. It’s going to be a long week for Houston sports talk show hosts this week.

The Ravens (6-3) manhandled the Texans (3-6) in the 4th quarter Sunday afternoon to put away the victory. The Texans had pulled to within 19-13 by the end of the 3rd quarter and really should have been leading by a point but for a bonehead Sage Rosenfels (23-38/294 yds/1 TD/4 int) in the first half.

But then the chronically shaky Texans defense allowed the Ravens to drive 78 yards on nine plays to go up by 14 and then Rosenfels set up the final two Ravens scores by throwing interceptions deep in Texans’ territory.

So, where do the Texans stand midway through Year Seven of their existence?

Unlike the Chronicle cheerleaders (at least one of whom is now leaving the booster club), I’ve always thought that the decision of Texans owner Bob McNair to hire Gary Kubiak was a questionable one under the circumstances. Now, over two and a half years into the Kubiak era, the defense still stinks, the QB play remains inconsistent and the Texans are staring straight at the probability that they will win only 4-6 games this season.

But who knows? The Texans looked dead in the water after 12 games last season before winning three of their last four to finish 8-8.

My sense is that Kubiak survives for at least another season, but that McNair will require assistant coaching changes on the defensive side. The Texans now go on the road the next two Sundays at the Colts (5-4) and the Browns (3-6) before returning home to face the Jaguars (4-5).

Continue reading

Checking up on Krispy Kreme

The folks over at WallStrip update us on the mercurial Krispy Kreme.

Video fun

The unedited Saturday Night Live Economic Bailout News Conference Skit. Absolutely brutal, but quite funny.

The Onion News Network reports on the impact of Obama’s victory on his obsessive supporters:

The NatWest Three are finally going home

natwest three 110608The NatWest Three — the three U.K. bankers who were dragged through the Enron mud for the past five years — are finally going home after serving about six months of their sentences in U.S. prisons.

After a hearing in New York yesterday, the three men have completed the prolonged transfer process from the U.S. prison system to the U.K. system. Accordingly, they will fly to England next week to serve the remainder of their three-year sentences there. Hopefully, they will be paroled in short order under the U.K.’s more humane sentencing laws pertaining to white-collar crimes.

Although the treatment of these men by U.S. criminal justice authorities has been mostly scandalous, the mainstream media continues to misrepresent their story (see this earlier example). More recently, see this London Telegraph article that gets just about everything wrong about the case and the plea bargain that the three men struck.

Read this if you want to know what really happened with regard to the NatWest Three. It’s a nuanced and far more interesting story than the mainstream media’s morality play.

Remember that hotel deal you invested in?

HiltonThis post from over a year ago reviewed the absurdly highly-leveraged deal that Blackstone Group LP was proposing to make for Hilton Hotels. That deal was a head-scratcher even during the heady days of easy money.

As this W$J article from yesterday notes, the deal ended being structured with "only" $20 billion in bank debt rather than $25 billion (with Blackstone pitching in $6 million in equity), but that really didn’t change the fundamental of the deal much. Hilton is projected to generate $2 billion in before-tax cash flow this year, which is enough to cover the $1.3 billion in interest expense on the bank debt. But cash flow is probably going to decline next year because of depressed demand for hotel rooms and Hilton will probably be forced to use its liquidity reserves to make up for any cash-flow short-fall.

Blackstone paid for Hilton at about 13 times estimated 2008 pretax cash flow. Similar public hotel companies are currently trading at about seven times their projected before-tax cash flow for 2008. The WSJ article quotes an analyst on the situation: "It’s very difficult to assume any equity if you have to mark to market those assets. But they may argue it’s a long-term investment for them." Make that a very long-term investment.

But as bad as this deal looks for Blackstone, it looks even worse for the seven banks that put up the $20 billion in financing. They are, as the WSJ puts it tactfully, "struggling" to sell pieces of the debt package in the current strained credit markets.

Gee, I’m sure glad we steered clear of that investment debacle, huh? Except that we apparently didn’t:

[I]t now looks like U.S. taxpayers are on the hook to Hilton’s fortunes, too. That’s because when J.P. Morgan Chase & Co. in March took over Bear Stearns, the Federal Reserve assumed $30 billion of Bear’s illiquid assets. Part of those loans and securities is Bear’s $4 billion unsold portion of the $20 billion Hilton financing package, according to people familiar with the matter.

A prayer for the new administration

Heather Headly and Andrea Bocelli sing a stirring rendition of The Prayer. Enjoy.

Tom Alexander, R.I.P.

I lost an old friend and Houston lost one of its most colorful characters on this past Sunday morning — legendary Houston trial attorney Tom Alexander died of a heart attack at the age of 78.

The Chronicle story on Alexander’s death is here and Richard Connelly of the Houston Press chimes in here). The memorial service will be held at 11 a.m. tomorrow morning at St. Paul’s United Methodist Church, 5501 Fannin in the Museum District of Houston.

Alexander was one of Houston’s most accomplished trial lawyers, the kind of rare quick-read who could prepare for a trial by reading the case file on his way to the courthouse. Inasmuch as he had such an engaging personality, articulate delivery and quick wit, judges and jurors naturally gravitated toward him.

But Alexander was one of those larger-than-life characters who was much more than just a fine trial lawyer.

First, he was a loving husband, father and grandfather.

Alexander was also was a true sportsman who loved and supported intercollegiate and professional sports of all kinds. He loved to golf and was an original member of Champions Golf Club, where he owned a weekend cottage that allowed him to keep up with his good friend, Champions owner Jack Burke. Born and raised in Kentucky, Alexander was also an avid horseman who could handicap thoroughbreds with the best of them.

Moreover, it wasn’t all trial tactics and sports with Alexander. Whether the subject was opera, politics, philosophy, poker, theology (he gave a lay sermon at church once entitled “Can You Fistfight and Still Be a Christian?”) or simply the latest gossip in Houston’s professional community, Tom Alexander would engage and stimulate you. Perhaps not always the way you wanted, but always in a way that would make you think about the basis of your beliefs.

Alexander’s vivacious wit and personality is perhaps best summed up by one of the funniest Houston courthouse anecdotes that I’ve ever heard.

Years ago, Alexander was hired by the rich husband in an ugly divorce. The vengeful wife hired another veteran of the Houston legal community, the late Robert Scardino, Sr., the father of noted Houston criminal defense attorney, Robert Scardino, Jr.

Inasmuch as there were no children of the marriage and the value of the community estate was well-established, there was really nothing for Alexander and Scardino to fight about in the divorce.

However, the husband and wife hated each other, so they directed Alexander and Scardino to be nasty with each other for as long as possible. And these two old warhorses were happy to oblige.

After about a year or so of bickering, the family court judge tired of Alexander and Scardino fighting. So, he set the case for trial.

Realizing that there was really no reason to use precious court time to split a well-defined community estate, the family court judge called Alexander and Scardino into his chambers the morning of trial and hammered out a property settlement in an acrimonious two-hour session.

Exhausted from dealing with Alexander and Scardino, the family court judge addressed both men gratefully at the conclusion of the session:

Mr. Alexander and Mr. Scardino, thank you for working with me in settling this case and saving the court valuable time for other cases.”

“Now, the final issue is the amount of Mr. Scardino’s fee for representing the wife in this case. Mr. Scardino, what do you think is fair?”

“Well, Judge,” replied Scardino. “This has been a hard-fought case and I don’t want the amount of my fee to be the final problem in the case. So, I tell you what I’m willing to do.”

“I don’t know what the amount of Mr. Alexander’s fee has been for representing the husband in this case,” Scardino observed. “But I trust Mr. Alexander.”

“So, to put this all behind us,” offered Scardino. “Whatever Mr. Alexander’s fee has been for representing the husband in this case, I’m willing to take the same amount for representing the wife. What’s good for Mr. Alexander is fine with me.”

“Why, Mr. Scardino,” gushed the judge. “Thank you for that creative and statesmanlike approach to resolving this final issue. I really appreciate that.”

Turning toward Alexander, the judge asked: “Mr. Alexander, what do you think about Mr. Scardino’s eminently reasonable proposal?”

Alexander sat in deep thought for a moment. Then, he leaned toward Scardino, got right up in his face and — undoubtedly with a twinkle in his eye — declared:

“Why, you greedy sonuvabitch!”

2008 Weekly local football review

Crabtree catching game winner (AP Photo/LM Otero; previous weekly reviews are here)

Texas Tech 39 Texas Longhorns 33

As predicted, the top-ranked Horns (8-1/4-1 Big 12) were not able to run the table through four straight games against top-10 ranked teams.

The loss dropped Texas to fourth in the BCS rankings, behind Alabama, Tech, and Penn State. Florida and Oklahoma are close behind the Horns.

The Horns remain in the hunt for the BCS Championship Game, but by a thread at this point. Alabama will probably lose to either LSU next weekend or to Florida in the SEC Championship Game, and Tech and OU must both play each other as well as Oklahoma State.

However, Penn State has a much easier schedules the rest of the way and is not likely to lose another game. So, the Horns will need help from other teams and probably a victory in the Big 12 Championship Game to attain a BCS Championship Game berth.

Now, to the game. Normally, when the Horns’ defensive unit gives up almost 600 yards, 30 points (the Horns’ offense gave up the other 9) and the game-winning TD pass with one second left, you would be inclined to blame the defeat on them. However, playing Texas Tech (9-0/5-0 Big 12) is anything but normal.

Truth be known, the Horns’ defensive unit played well enough for the Horns to outscore Tech and win the game. However, Texas’ offensive unit was completely flummoxed by Tech’s defense for almost the first three quarters of the game, and that lack of productivity ended up being the difference in the game.

Tech’s defense played a soft zone pass defense with two safeties deep and either five or six defenders playing between 5-7 yards off the line of scrimmage. Then, Tech would run a series of stunts with the three or four defensive lineman who were essentially pass-rushing on every play.

The strategy effectively took away Texas’ mid-range passing game. Moreover, through almost three quarters, Texas inexplicably played into Tech’s hands by failing to force the Red Raiders to defend the running game, which was there for the taking with so many Tech defenders running around in the defensive backfield. As a result, the Horns fell behind 22-3 and 29-13 before closing to within 10 at the end of the third quarter.

After finally forcing Tech to defend the running game toward the end of the third quarter, the Horns moved the ball at will against Tech’s defensive unit in the fourth quarter and almost pulled the game out. However, it’s simply unreasonable to expect a defensive unit to do much better than hold Tech’s explosive offense to 10 points in a half, which is precisely what the Texas defensive unit did in the second half on Saturday night. The Horns’ failure to score double-digit points in the first half cost them this game.

The Horns play resurgent Baylor (3-6/1-4 Big 12) next Saturday in Austin before traveling the following weekend to Lawrence to face a dangerous Kansas (6-3/3-2 Big 12) squad.

Continue reading

Phillip G. Hoffman, R.I.P.

Phillip HoffmanPhil Hoffman, inarguably one of the most important university presidents in the history of the University of Houston, died Wednesday at the age of 93. The Chron’s Lynwood Abram penned a nice article on Dr. Hoffman here.

When Dr. Hoffman took over the presidency of the University of Houston in 1961, UH was a sleepy, segregated city college of about 12,000 students. By the time Dr. Hoffman retired 16 years later, UH had become a fully-integrated university system of four campuses with an enrollment of over 30,000 students. Two years after taking over at UH, Dr. Hoffman led the legislative effort to have the university accepted into the Texas state university system.

Although the Chron’s article on Dr. Hoffman’s death notes the foregoing, the fact that UH is a far younger institution than the other two main Texas university systems — the University of Texas and Texas A&M University — is largely ignored by the Chronicle and the rest of the mainstream media. Given the far inferior resources that UH receives from the state relative to UT and A&M, UH is currently providing the best bang-for-the-higher-education-buck of the three systems. That is an impressive part of Dr. Hoffman’s formidable legacy.

A memorial service is scheduled for Dr. Hoffman at 10:30 a.m. Monday at the First Presbyterian Church in the Museum District, 5300 Main.

Lacking appreciation for capitalism

Comedian Louis CK sums it pretty well: