Money, Politics & State Priorities

Posted on by

The Capital Times rightly takes Democratic Governor Jim Doyle to task for raising money at a faster rate than former Governor Tommy Thompson (himself a record cash machine).

During his first 18 months in office, Doyle raised $2.4 million. That means that Doyle is collecting checks at a more rapid rate than did former Gov. Tommy Thompson, who until now had been recognized as the state’s most aggressive campaign fund-raiser.
“When you’re significantly out-raising Tommy Thompson, that’s saying something,” argues Mike McCabe, executive director of the Wisconsin Democracy Campaign.
What it says, however, is not encouraging for campaign finance reform or good government in Wisconsin. Just like Thompson, Doyle has been raising large sums of money from individuals he has appointed to key positions in state government and from individuals and groups seeking favorable treatment from the state.

Wisconsin needs real economic and political leadership. Taking money from the entrenched interests does nothing to help our economic future. In fact, it often gets in the way.

Unusual Newspaper Funding Disclosure

Posted on by


Jason Stein’s article on Brazil’s growing soybean export business (and the financial implications for Wisconsin Soybean farmers; Brazil’s costs are lower and they are clearing forests to grow beans) follows a number of articles in other publications on Brazil’s agricultural prowess, including The Star Tribune and the NY Times. Stein’s article is certainly useful and informative (I’m glad they are covering these issues!), however, the article includes a disclaimer that:

Reporting in Brazil was made possible through a grant from the Latin American, Caribbean and Iberian Studies Department at UW-Madison.

I find this amazing. Capital Newspapers is a $112M+ (2003 revenues) very profitable business. I can’t think of one good reason why University funds (direct or indirect) should subsidize this private enterprise. A trip to Brazil, including lodging, food and transportation planned somewhat in advance should cost no more than $3 to $5K. I’d rather see them fund some students, we’d likely get a more for our money.

Ted Turner – My Beef with Big Media

Posted on by

Captain Courageous, or Outrageous, depending on your POV, Ted Turner takes some shots at media consolidation in this Washington Monthly article:

Today, media companies are more concentrated than at any time over the past 40 years, thanks to a continual loosening of ownership rules by Washington. The media giants now own not only broadcast networks and local stations; they also own the cable companies that pipe in the signals of their competitors and the studios that produce most of the programming. To get a flavor of how consolidated the industry has become, consider this: In 1990, the major broadcast networks–ABC, CBS, NBC, and Fox–fully or partially owned just 12.5 percent of the new series they aired. By 2000, it was 56.3 percent. Just two years later, it had surged to 77.5 percent.

Ironically, on the day I read this, Gannett announced that they purchased a rival Green Bay, WI newspaper, the News-Chronicle (along with a number of regional and weekly publications). Frank Wood owned the News Chronicle, which in 1989 published a long series of articles critical of Gannett and its business practices. Richard McCord, the writer of these articles went on to publish a book – the Chain Gang.
Jon Lauck references this book in his disection of the newspaper monopoly situation in South Dakota.

History of the ATM

Posted on by

Ellen Florian wrote an interesting article on the history of ATM’s: The Money Machines:

The line was long and slow, and he became increasingly irritated as his lunch hour dribbled away. All at once, he had a flash of inspiration. ‘Golly, all the teller does is cash checks, take deposits, answer questions like “What’s my balance?” and transfer money between accounts,’ recalls Wetzel, now 75 and still living in Dallas with his wife. ‘Wow, I think we could build a machine that could do that!’ And with a $4 million go-ahead from Docutel’s parent company, that’s exactly what he and his engineers did. Read more about the story of the ATM.”

Via Slashdot.