Government Getting in the Business Business

A couple of days ago, lawmakers in the state of Kansas announced that they were getting in the casino business. Of all the businesses to get involved with, it seems terribly odd to choose casinos. I guess it should be no surprise, as our fearless representatives view gambling as the eternal spring of revenues. Indiana has gotten bitten by the gambling revenue bug and is tempted continuously by the thought of expanding casinos even in the face of declining revenue from such venues.

The larger question is where they feel they are empowered to enter select businesses in the first place. Or (better yet) is why the government feels they will be any good at it. There is no objective evidence supporting the claim that governments run businesses very well. Although there is plenty of evidence to the contrary (Amtrak, the post office, Freddie and Fannie, etc. ad nauseum).

It appears that economist Michael Hicks, a professor at Ball State University, has some evidence that lawmakers will surely ignore. As quoted in the Wall Street Journal:

(Hicks) calculated the rate of return on the corporate tax credits. He found that for every $1 million in tax credits awarded, there were 95 lost manufacturing jobs in the counties where the companies were located—a result that is "strongly statistically significant." There was no gain in personal income in these counties. Perhaps more jobs would have been lost without the credits, but what is undeniably clear is that the businesses that got the government loot were not magnets for other employers.

Counties may lose jobs in the short term, but I am sure they are hoping they will make up for it in volume.

A Lifetime Ago

Twelve years ago today, I reported for active duty at Fort Knox, Kentucky. That seems like a lifetime ago. I miss it every day, but wouldn't trade it for the time I get to spend with my family.

Financial Literacy

In a USA Today story published today, Sandra Block questions financial return on investing in a college education during a recession. Citing one student who graduated from college and then lost her job, she paints a picture of the now-graduate who is struggling to pay back her student loans.

To this day, I have yet to see the complete value of my education, she says.

Of course she hasn't see the full return on her investment! She has been out for four years. In this pellet-from-the-feeder-bar, instant-gratification world, folks forget that investing takes time; even more time in an economic downturn.

Block continues with:

For years, an article of faith in this country has been that college is the
gateway to a better life. So deeply held is this belief that many students, such as Horn, borrow tens of thousands of dollars to attend prestigious public or private universities. But as the worst recession since World War II trudges into its 21st month, many graduates are discovering that the college payoff could be a long time coming — if it comes at all.

I will agree that it may be true that a college degree may not pay off. But, if you coast through college and you coast through life, then yes, you may not see a return. But facts (which can be stubborn things) show that college graduates earn more over time. Folks like me (and my brothers and parents) would argue rather convincingly that you don't need an Ivy League education to be successful. I wouldn't consider myself wealthy (I have Google ads on my blog for cryin' out loud!), but my degree from Ohio State has served me quite well throughout the years. There is a classic scene from Good Will Hunting:

See, the sad thing about a guy like you is in 50 years you're gonna start doin' some thinkin' on your own and you're gonna come up with the fact that there are two certaintees in life. One, don't do that. And Two, you dropped a hundred and fifty grand on a education you coulda got for a dollar fifty in late charges at the public library.

But there is something to be said for a degree. To quote my brother, Greg, "The only thing a bachelor's degree proves is that you can earn a bachelor's degree." And that proves you have work ethic, can prioritize and have basic time management skills.

We need to teach our high school kids about how to figure out a return on investment. And, that if you want to get ahead in life; you have to invest - mainly in yourself and in an education. Good education doesn't have to be expensive. But you need to get it. In a great piece in the Wall Street Journal set for publication tomorrow, William McGurn show that you don't need a four-year degree, but you do need to learn a skill. How do I add value? What can I do that can't be outsourced?

I have 12 years to teach my two young ones to ask those questions and then hope they figure out how to answer them.

The Crack Cocaine of Primetime Television

In case you haven't heard (which I am sure you haven't), the 'CW' network is resuscitating the long-dead TV show, Melrose Place. Yes, that's right ... Melrose Place. To warn you, there is nothing redeeming about this show. Or, at least there wasn't 15 years ago. There were mysterious brain tumors, torrid love triangles, haunting addictions ... you know, the typical stuff you would find packed into one not-so-quiet apartment complex at 4616 Melrose Place. It had some innate qualities like Heather Locklear, Courtney Thorne-Smith and Marcia Cross (of Desperate Housewives fame).

The original ran from 1992-1999 and I finally kicked the habit when Fox cancelled the show and I went cold turkey. Now, with the crack cocaine of television coming back on the air, I fear that I will get the shakes if I don't at least try it. On the other hand, if I watch just one episode, I could be hooked again. I hope that doesn't happen.

Football Season is Almost Here!

One week from today, Ohio State (and many others) will suit up for the 2009-2010 College Football Season. Mason has kicked things off with a delightful picture of a football player.

Season 4

Mason is entering his fourth season of ZYSA (Zionsville Youth Soccer Association). Dad is sitting out as coach this season so I am left to the sidelines as another dad takes his shot at corralling 5-year-olds. As I watch the practice of kindergartners, it seems there is much less of the wandering (that you see with the four-year-olds). Unfortunately, that is not replaced with any real practice; just more grabassery (errrr...., horseplay).

Regardless, Mason returns to the nest tired. And, that is what is all about.

The New Chair

It is official. I am the Chair of the Dads Club of the Stonegate Elementary School Parent/Teacher Organization. What does that mean, you ask? Not a lot, I suppose. But I am looking forward to contributing in any way I can. The Dads Club (I haven't figured out whether or not there is an apostrophe in 'Dads' yet; and, if there is, where it goes ... Dads? Dad's? Dads'? Sounds like its time for my first executive decision!) is responsbile for two events each year. The first, which takes place in early October, is a pancake breakfast. The second is a bowling event.

I feel that I am already behind on the pancake breakfast planning. Although, in my defense, I have already secured an appearance by Miss Indiana. I haven't really scoped out the rest of it yet. I am not sure how many eggs I will need, nor the cups of milk it will take to make a yet undetermined number of pancakes.

Regardless, the goal is to raise money for the school. I am open to suggestions on how to raise more cash. We begin at 9 am on October 3rd. Gotta go!

Mirror, Mirror on the Wall ...

Who is the fairest of them all?