Twofer Tuesday Business

First up is the RollingStone’s Matt Taibbi take down of the New York Times’ Thomas Friedman, who likely has no clue how the average American citizen lives their daily lives. Friedman, likely the wealthiest journalist in the country, is an unabashed proponent of globalization that sees the world divided into two factions, those that like the trend towards the globalization of the world’s economy and those that don’t.

The problem for Friedman being the entire topic is far more complicated than simply painting the opponents of globalization as election year losers (think Bernie Sanders supporters and soon Trump’s). To understand where I’m going with this you must first read Taibbi’s piece because the price of globalization is inequality (income, political and other) along the decimation of the United States middle class. These built in inequalities drove the Brexit vote and no doubt plays a role in the thinking of both Trump and Sanders supporters, which I’m going to illustrate with a picture a reader sent me a while back:

Reader Submitted Photo of the Royal Dutch Shell Special Projects Office in New Orleans, Louisiana. Desks that were once occupied with college educated engineers have been empty for well over a year
Reader Submitted Photo of the Royal Dutch Shell Special Projects Office in New Orleans, Louisiana. Desks that were once occupied with college educated engineers have been empty for well over a year

Those that follow Slabbed’s twitter timeline have witnessed our coverage of the downsizing of the New Orleans RDS office, which I’m getting from a very well placed source. Shell has not exactly made a secret of what they are doing downsizing its New Orleans office but you can’t view what is happening now through the same lens used to examine previous oil patch bust layoffs. Here is an edited comment from Slabbed’s source on the current happenings in NOLA at RDS: Continue reading “Twofer Tuesday Business”

Jimbo the clown joins Mike Chaney on the Biggert-Waters NFIP disaster front. Now we’re all truly screwed.

Biggert-Waters premium increases threaten Louisiana’s working coast, insurance commissioner says ~ Lauren McGaughy

What can I add when the post title says it all? Absolutely nothing.

Jimbo the Clown strikes again, gives the CEO of the insolvent Louisiana Citizens Insurance a $50,000 pay raise

Louisiana Insurance Commish Jim “Jimbo the Clown” Donelon

This, after raising commercial rates in New Orleans 45%. Jeff Adelson has the sad tale of the latest state sponsored insurance jackassery for NOLA.

This is almost enough to make me feel grateful to have Mike Chaney here in Mississippi.  What a sad state of insurance we reside down here in Soggy Bottom.

Lagniappe Industries still going strong thanks to Jimbo the Clown….

So how can you can still sell insurance in Louisiana after admitting to a felony? Simple, you use the company that was collecting graft as a front that’s what. Click the pic to nab the 5 page pdf.

One naturally wonders if the Whitmers are still making money from the Shadow Lake aka River Birch account despite copping a plea deal, ostensibly to testify against Team River Birch. Stan Marsh well explains…..

Will somebody please take them ‘shrooms away from Jimbo the Clown and get him into rehab………

Louisiana Insurance Commish Jim Donelon

Property insurance market has recovered, Donelon says ~ AP via NOLA.com

Folks the story comments well tell the tale. Jimbo has gone off the deep end and that does not count the Citizens debacle.

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Plaintiff’s seize Louisiana Citizen’s Bank Accounts: Jimbo the Clown continues in his role.

Louisiana Insurance Commish Jim Donelon

Folks we’ve covered the entire sad state of affairs at Louisiana Citizens Insurance, which adjusted its post Katrina claims in bad faith and has been trying avoid the consequences of such literally since the early days after the storm. The latest developments unfolded Monday with Becky Mowbray filing this short and not so sweet story that Citizens has exhausted its appellate remedies and the Plaintiff’s lawyers in the class action bad faith case could seize over $100MM from Citizens’ bank accounts.  Sadly Louisiana Insurance Commish Jim “Jimbo the Clown” Donelon remains in denial and this is not good financially for the rate paying public in Louisiana as Ted Griggs at the Advocate explains:

Insurance Commissioner Jim Donelon vowed to continue the fight, while plaintiffs’ attorneys said it’s time for Citizens to pay policyholders.

“We will proceed immediately to complete the seizure and collect the judgment, and we will also move quickly to set the pending claims for hearing before the trial court,” attorney Fred Herman, who represents the policyholders, said in a news release…….

“Our lawyers are urging us to continue the appeal to the U.S. Supreme Court, and we have another state court initiative in mind, as well,” Donelon said.

I’ll again point out this is standard jackassery for Donlon, Continue reading “Plaintiff’s seize Louisiana Citizen’s Bank Accounts: Jimbo the Clown continues in his role.”

Friday Links

Just Swimming Around: OR…Just who’s Cesspool is this anyway? ~ Ignatius Jeff Reilly (That guy appears to knows way more than he lets on. 😉 Must read)

Where the donations are going ~ Jason @ American Zombie

Bay St. Louis police investigating possible murder ~ Donna Harris

Mississippi high court: Pardons are valid – Holbrook Mohr

Library will be quieter without her ~ Anita Lee (Everyone here knows Miss Ginny. She will be missed)

House Democrats moving faster than they did on Metairie judge ~ Drew Broach (Comparing Judge Cebull with the now impeached Tom Porteous is a bit of a stretch in my mind.)

5 charged with theft in NOAH house-gutting scandal ~ Hammerman

Can you say bankruptcy or what can we do with Citizens ~ Ignatius Jeff Reilly (Must Read)

Citizen Property Insurance plaintiffs to seize cash ~ Ted Griggs

Citizens board expected to discuss rate increase for policyholders at meeting today – Ed Anderson

Feel free to add your own links in comments. (It is a very wet day here 75 miles north of the coast 20 miles from the middle of nowhere so blogging on my part will be light today)

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BREAKING: Jimbo the Clown’s legacy to Louisiana policyholder revealed. Louisiana Citizens Insurance has assets seized to satisfy court judgment

Louisiana Insurance Commish Jim Donelon

And folks this is what happens when a clown is elected as Insurance Commish. Heckuva job Jimbo!

The Louisiana DOI has sent Slabbed the following press release.

What can I say folks except it looks like Jimbo the Clown is hipping up to blogging or in this case Vlogging. So without further adieu Jimbo has the following response to 2 news stories today involving the Louisiana Department of Insurance which can be found here and here.

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