OPEC Announces Production Cut

Posted on February 10, 2004 by Tom

The NY Times reports that OPEC made a surprise announcement earlier today that it was cutting its production quotas. The Houston Chronicle reports that Crude prices rose on the news. The Wall Street Journal‘s analysis of the action is here (subscription required).
By this action, OPEC is attempting to do its part to maintain oil prices at their highest level in two decades. My sense is that this move may benefit the OPEC members in the short term, but that long term prices will fall from increased exploration and production that will result.

WSJ’s Top Ten Trends in Ten Industries

Posted on February 10, 2004 by Tom

Yesterday’s Wall Street Journal includes an interesting section (subsciption required) on trends in ten selected industries: Travel, the Internet, Aviation, Professional Sports, Commercial Real Estate, Television, Telecom, Banking, Oil and Gas, and Pharmaceuticals. A subscription to the Journal is expensive, but this type of coverage makes a WSJ subscription a good investment.

When does a recession become a depression?

Posted on February 10, 2004 by Tom

The thoughtful Daniel Drezner reminds us of the Economist‘s definition of when a recession becomes a depression:

When your neighbour loses his job it?s a slowdown (or, if you dislike him, a correction); when you lose yours, it?s a recession; when an economic journalist loses his, that?s a depression.

Al Qaeda and Iraq

Posted on February 10, 2004 by Tom

WaPo and the NY Times report on a recently discovered memo requesting more Al Qaeda support for Iraqi insurgent groups. The shadowy ties between Saddam’s Iraq, Al Qaeda, and various other Islamic extremist groups is explored in great detail in Laurie Mylroie’s book, “The War Against America.”

Gore goes over the top

Posted on February 10, 2004 by Tom

Al Gore‘s increasing irrelevancy was noted in this earlier post. But is this his idea for being taken seriously again?
Word to serious Democratic presidential candidates: Steer clear of this loose cannon.

The Super Bowl of Dog Shows

Posted on February 10, 2004 by Tom

Having Super Bowl hangover? Check out the Westminster Dog Show this evening on USA Network. The Houston Chronicle reports on the increasingly popular event, which was hilariously depicted in Christopher Guest’s spoof documentary, Best in Show. This is very good dog–and people–watching.

It’s brutal in retail

Posted on February 9, 2004 by Tom

On the heels of Garden Ridge’s Chapter 11 filing, Circuit City announces store closings.

Did you notice that there is a revolution going on in Haiti?

Posted on February 9, 2004 by Tom

Between the Super Bowl and Martha Stewart’s trial, it’s easy to miss that Haiti is dealing with yet another revolution. You can read about it here. I think it’s safe to say that the U.S. will not invade this time, as we did in 1994.

Memo to File on Volcano Knight

Posted on February 9, 2004 by Tom

Previous posts on Coach Bobby Knight’s latest run-in with his employers are here and here. Now, the Smoking Gun has posted the Texas Tech Chancellor’s memorandum to file regarding his argument with Knight at the local salad bar.
Frankly, my daughters have more sophisticated arguments than the one between Knight and the Chancellor.

Garden Ridge moves to reject leases

Posted on February 9, 2004 by Tom

Houston retailer Garden Ridge, currently in a surprising chapter 11 case filed last week and noted in these earlier posts, filed over the weekend a Motion to reject certain store leases that apparently will be a part of its reorganization plan.

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Houston's Clear Thinkers

Longtime Houston attorney Tom Kirkendall's observations on developments in law, business, medicine, culture, sports, and other matters of general interest to the Houston business, professional, and academic communities.

OPEC Announces Production Cut

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WSJ’s Top Ten Trends in Ten Industries

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When does a recession become a depression?

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Al Qaeda and Iraq

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Gore goes over the top

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The Super Bowl of Dog Shows

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It’s brutal in retail

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Did you notice that there is a revolution going on in Haiti?

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Memo to File on Volcano Knight

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Garden Ridge moves to reject leases

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