It’s Wednesday night at the White House, and the era of the cocktail party has returned.
Only eight weeks into the Obama administration, the president and first lady have already hosted their fair share of social events. Indeed, White House social secretary Desiree Rogers has announced that the Obama administration plans to make Wednesday night social events a tradition.
“It’s not so much a cocktail party necessarily,” Katie McCormick Lelyveld, press secretary to first lady Michelle Obama, told FOXNews.com. “It’s a gathering that takes on the shape of the week’s agenda. The driving force is to reserve time Wednesday evenings to have at hand to use for whatever is at the top of the list of priorities that week.”
The announcement seemed to be a departure from the past several years, as the parties had all but fallen out of fashion since the Reagan era. President George W. Bush was rumored to dislike cocktail parties, and had given up drinking years before he was sworn in. As former press secretary Dee Dee Myers told Politico.com, the Clintons did not have a wide circle of friends in Washington and were "not as social" as the Obamas have shown themselves to be. The Reagans reportedly cultivated relationships with Washington society and Hollywood alike, while Carter instead enjoyed a more quiet social life.
Friday, March 20, 2009
Tom Cruise Career Waffles
So what is Tom Cruise going to follow up "Valkyrie" with?
Cruise's last actual hit movie was released in June 2006 — that was "Mission: Impossible 3," and although it was very well made by director J.J. Abrams, it was not the monster that its predecessors had been.
Since then, Cruise has appeared in the dreadful box office loser, "Lions for Lambs," and made his popular cameo appearance as an offensive movie producer in "Tropic Thunder."
"Valkyrie," which kicked up a storm of controversy, made a little over $83 million domestically during its run. It wasn’t a flop, but for Cruise it was below his average $100 million take and well below the Mission: Impossible movies, almost by half.
The film has taken in a little more than $100 million in the rest of the world, with its biggest successes in Germany, Italy, the United Kingdom, and China, where it made over $7 million.
Cruise's last actual hit movie was released in June 2006 — that was "Mission: Impossible 3," and although it was very well made by director J.J. Abrams, it was not the monster that its predecessors had been.
Since then, Cruise has appeared in the dreadful box office loser, "Lions for Lambs," and made his popular cameo appearance as an offensive movie producer in "Tropic Thunder."
"Valkyrie," which kicked up a storm of controversy, made a little over $83 million domestically during its run. It wasn’t a flop, but for Cruise it was below his average $100 million take and well below the Mission: Impossible movies, almost by half.
The film has taken in a little more than $100 million in the rest of the world, with its biggest successes in Germany, Italy, the United Kingdom, and China, where it made over $7 million.
Iran welcomes US president’s statement
TEHRAN: A top advisor to Iranian President Mahmoud Ahmadinejad Friday welcomed US President Barack Obama's olive branch to Tehran but urged him to back his words with concrete action to repair past mistakes. "We welcome the wish of the president of the United States to put away the past differences," Ali Akbar Javanfekr told foreign news agency in reaction to Obama's New Year message to Iranians in which he urged a resolution of differences and an "honest" engagement with Tehran."But the way to do that is not by Iran forgetting the previous hostile and aggressive attitude of the United States," Javanfekr said. "The American administration has to recognise its past mistakes and repair them as a way to put away the differences." Javanfekr said Obama has talked of change but had "not taken any concrete steps to repair the mistakes committed against Iran." "He has to go further than words and take action. If Obama shows willingness to take action, the Iranian government will not show its back to him."
Revolution only way to change outdated system’: Nawaz
LAHORE: Pakistan Muslim League-N Quaid Mian Nawaz Sharif has said that the long march began in current month and the mission to get rid of outdated system will be accomplished by March next year.Addressing PML-N workers here on Friday, Nawaz said March 16 will be remembered as a revolutionary day in the history of Pakistan when the nation got united for the supremacy of justice. He said a revolution is needed to change the outdated system. He congratulated the nation on the reinstatement of deposed judges.Nawaz said the restoration of judiciary will be celebrated in PML-N General Council meeting on March 23.
Exclusive: Treasury Officials Proposed Limiting Bonuses for AIG
Treasury officials proposed limiting annual bonuses for all employees of American International Group in November, as they were negotiating the government’s first investment in the troubled firm, according to a document obtained by FOX Business.
In a Nov. 5 e-mail to a Treasury and Federal Reserve officials, an outside attorney working on the transaction wrote, “We indicated that UST (United States Treasury) ... wants to put in place a limitation on annual bonuses that assure that (AIG) executives/employees will not be enriched out of TARP funds.”
But the e-mail indicates AIG officials pushed back on the proposal. In a section of the e-mail discussing proposed limits on severance packages for AIG employees, the attorney wrote, “They were slack jawed at the idea of imposing the restriction throughout the entire population, especially worldwide.” AIG proposed that Treasury apply such limits “to a class of partners and senior partners (700).”
At another spot in the e-mail, the attorney said about AIG executives, “They will think about ways to deal with the ‘no enrichment’ point. In this connection they again raised the size of the applicable group and kept coming back to ‘700’ as a meaningful, and possibly workable, group for limitations.”
The e-mail also indicates that in their deliberations, government officials were concerned about the effect of compensation on recruiting and retaining AIG employees.
“We also indicated that all parties understand that the restrictions must be designed so that the business can be operated in a reasonable way, including in terms of recruitment and retention of employees,” the attorney wrote in the e-mail.
A key argument in AIG’s defense of its bonus practices has been that bonuses are needed to recruit and retain key employees.
A Treasury official in the department’s general counsel office, Stephen Albrecht, wrote in response to the attorney’s e-mail, “See below. Looks like AIG has some creative thinking to do, but we’ll need to decide to what extent we’re willing to bend.”
Government officials eventually decided to restrict compensation at AIG to just the top 75 company executives. The Treasury agreed to invest $40 billion into AIG.
Congress is considering legislation to limit bonuses at AIG after the company and Treasury disclosed it paid $165 million in 2008 bonuses last week to 400 employees at the AIG’s financial products unit, the division that nearly put the company into bankruptcy last year because it sold insurance coverage on risky securities held by other financial firms.
The Treasury and Fed have committed more than $170 billion to AIG as it seeks to restructure and sell assets. The latest version of the bailout includes a Treasury commitment to invest another $30 billion in the company. AIG has not tapped the funds yet. Treasury officials say they are negotiating tougher limits on bonuses as a condition for dispensing it.
In a Nov. 5 e-mail to a Treasury and Federal Reserve officials, an outside attorney working on the transaction wrote, “We indicated that UST (United States Treasury) ... wants to put in place a limitation on annual bonuses that assure that (AIG) executives/employees will not be enriched out of TARP funds.”
But the e-mail indicates AIG officials pushed back on the proposal. In a section of the e-mail discussing proposed limits on severance packages for AIG employees, the attorney wrote, “They were slack jawed at the idea of imposing the restriction throughout the entire population, especially worldwide.” AIG proposed that Treasury apply such limits “to a class of partners and senior partners (700).”
At another spot in the e-mail, the attorney said about AIG executives, “They will think about ways to deal with the ‘no enrichment’ point. In this connection they again raised the size of the applicable group and kept coming back to ‘700’ as a meaningful, and possibly workable, group for limitations.”
The e-mail also indicates that in their deliberations, government officials were concerned about the effect of compensation on recruiting and retaining AIG employees.
“We also indicated that all parties understand that the restrictions must be designed so that the business can be operated in a reasonable way, including in terms of recruitment and retention of employees,” the attorney wrote in the e-mail.
A key argument in AIG’s defense of its bonus practices has been that bonuses are needed to recruit and retain key employees.
A Treasury official in the department’s general counsel office, Stephen Albrecht, wrote in response to the attorney’s e-mail, “See below. Looks like AIG has some creative thinking to do, but we’ll need to decide to what extent we’re willing to bend.”
Government officials eventually decided to restrict compensation at AIG to just the top 75 company executives. The Treasury agreed to invest $40 billion into AIG.
Congress is considering legislation to limit bonuses at AIG after the company and Treasury disclosed it paid $165 million in 2008 bonuses last week to 400 employees at the AIG’s financial products unit, the division that nearly put the company into bankruptcy last year because it sold insurance coverage on risky securities held by other financial firms.
The Treasury and Fed have committed more than $170 billion to AIG as it seeks to restructure and sell assets. The latest version of the bailout includes a Treasury commitment to invest another $30 billion in the company. AIG has not tapped the funds yet. Treasury officials say they are negotiating tougher limits on bonuses as a condition for dispensing it.
States: We'll take stimulus - our way
NEW YORK (CNNMoney.com) -- Big money often spurs big battles. A month after President Obama signed the $787 billion economic stimulus law, governors and state lawmakers are already fighting with Washington and each other about putting the money to use.
At least two governors are asking the White House for special consideration in applying the funds meant to shore up state budgets.
And several governors, saying they don't want to expand eligibility, have turned down millions of dollars of unemployment benefits. This, in turn, has pitted some against their own state legislatures and prompted some lawmakers to threaten to take matters into their own hands.
At least two governors are asking the White House for special consideration in applying the funds meant to shore up state budgets.
And several governors, saying they don't want to expand eligibility, have turned down millions of dollars of unemployment benefits. This, in turn, has pitted some against their own state legislatures and prompted some lawmakers to threaten to take matters into their own hands.
Hired! One step ahead of the job market
NEW YORK (CNNMoney.com) -- The secret to finding a job in a tough market? Put yourself out there, even when you're not looking for work.
At least that's what worked for senior tech specialist Scott Weinstein. By the time he decided it was time to leave his post at Citigroup in January, he had already established the connections that would help him land his next gig.
"There's certainly a widespread understanding that getting a job isn't as easy as it used to be," Weinstein, 34, said. "Eighteen months ago if I wanted to move I would have had a choice of multiple jobs."
This time around, Weinstein, who writes software to ease the flow of equity trades, knew that sending out resumes in response to job postings alone would not reap results. "There were a couple of mid-level positions and super-senior positions on job boards," he said, and "for some of those jobs I just wasn't qualified."
So, Weinstein fell back on the network he had compiled long before his job search began. He was already in touch with a few recruiters who had contacted him in the past, both on the phone and through professional networking site LinkedIn.
"Even when I'm not looking, I typically take the call," he explained. "I find most [recruiters] are pretty solid, if you talk to them, they're more likely to help you out."
He had also met many other people in his industry, including potential employers, over the past few years by frequenting informal meet ups and other social industry gatherings.
It's a great way to stay current, Weinstein explained. While the focus of these meetings is on new programs and technologies in development, "there's always an undercurrent of networking."
At least that's what worked for senior tech specialist Scott Weinstein. By the time he decided it was time to leave his post at Citigroup in January, he had already established the connections that would help him land his next gig.
"There's certainly a widespread understanding that getting a job isn't as easy as it used to be," Weinstein, 34, said. "Eighteen months ago if I wanted to move I would have had a choice of multiple jobs."
This time around, Weinstein, who writes software to ease the flow of equity trades, knew that sending out resumes in response to job postings alone would not reap results. "There were a couple of mid-level positions and super-senior positions on job boards," he said, and "for some of those jobs I just wasn't qualified."
So, Weinstein fell back on the network he had compiled long before his job search began. He was already in touch with a few recruiters who had contacted him in the past, both on the phone and through professional networking site LinkedIn.
"Even when I'm not looking, I typically take the call," he explained. "I find most [recruiters] are pretty solid, if you talk to them, they're more likely to help you out."
He had also met many other people in his industry, including potential employers, over the past few years by frequenting informal meet ups and other social industry gatherings.
It's a great way to stay current, Weinstein explained. While the focus of these meetings is on new programs and technologies in development, "there's always an undercurrent of networking."
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