Explaining Southern California's economy

Veterans Day: Remember our warriors — but give them jobs!

John Rabe

Veteran's/MIA park at Cypress and Pepper in Cypress Park. Nov 8, 2011.

This Veterans Day is remarkable for more than just the unique date: 11.11.11. It should be remembered, or perhaps etched in out minds with acid, because it's taking place in the context of horrific national unemployment. If you're one of the 14 million American currently without a job, be... thankful that you're not a young vet.

This is from an excellent Businessweek blog post on the topic:

Dig...into the pages of U.S. Bureau of Labor Statistics employment data and it becomes apparent that while the job market is slowly improving for most Americans, it’s moving in the opposite direction for Gulf War II vets (defined by the BLS as those on active duty since 2001). The youngest of veterans, aged 18 to 24, had a 30.4 percent jobless rate in October, way up from 18.4 percent a year earlier. Non-veterans of the same age improved, to 15.3 percent from 16.9 percent. For some groups, the numbers can look a good deal worse: for black veterans aged 18-24, the unemployment rate is a striking 48 percent.


Eurozone Crisis: Never miss a single day

Just because markets are up in the U.S., that doesn't mean Europe isn't still basically going to hell. The Eurozone hasn't been granted a reprieve simply because a few prime ministers have been sent packing. Greece still has massive debt. Italy still has massive debt. Spain still has massive debt. This may not end well. At least, it may not end with the euro surviving as a currency

Storify tells the tale:

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Starbucks buys Evolution Fresh for $30 million, but juice is just the beginning

Mercer 19107

Stephen Chernin/Getty Images

File: A Starbucks Coffee barrista readies a beverage for a customer in the new 42nd Street store August 5, 2003 in New York City.

Yesterday, Starbucks announced that it's buying Southern California's own Evolution Fresh Inc., for $30 million. That's pretty small potatoes as M&A activity goes. But for Starbucks, buying the juicemaker — which, according to the Starbucks announcement, is "one of the only true juiceries left in the industry that still cracks, peels, presses, and squeezes its own raw fruits and vegetables" — is just the beginning of the beginning.

And a risky undertaking.

Starbucks wants to move beyond coffee and expand its presence far beyond its retail stores. So far, it's been doing this slowly and carefully — and has already endured one misstep, when it over-expanded prior to the financial crisis. In Steve Jobsian fashion, CEO Howard Schultz returned to the company to trim, reinforce, and realign. The ship was righted. But now it's looking to grow again. 


When bloggers break the rules: Did Jim Romenesko do anything wrong?

We are periodically obliged to blog about blogging here at DeBord Report. The last couple of days have seen the (sort of) downfall of one of the blogging greats, Jim Romenesko, who in 1999 started a site called MediaGossip.com. It was effectively the first blog about the peculiar inside-baseball of big-time journalism. Picked up by the Poynter Institute, it became a must-read in the profession and a model for other sites, such as LAObserved

It now appears that for the last 12 years, Romenesko has been breaking Poynter's editorial rules (they were posted online in 2004). It's just that nobody seems to have noticed until now — and none of the many journalists whose work Romenesko has kinda lifted without attribution for a decade ever complained. 

The Director of Poynter Online, Julia Moos, summarized Romenesko's infractions, over which he has officially resigned (although he was planning to retire this year anyway, with plans to start a new site). In a nutshell, Romenesko built posts about stories from around the media by cutting and pasting in the mostly verbatim language of his original sources, sometimes properly attributing, sometimes not. But he always included links to those stories — in fact, the link was the whole point. Romenesko wanted you to read the original. And that made journalists very happy, because Romenesko could drive traffic, as well as prove that you mattered in media land.


Eurozone Crisis: Enter the economists to save the sinking ship

TO GO WITH STORY "Papademos : Greek tech


This is what a European "technocrat" looks like. Lucas Papademos will take over from Georges Papandreou as prime minister of Greece, as the Eurozone continues to sink.

Europe is full of flamboyant politicians, but when it comes to rescuing the continent from financial ruin, the money right now seems to be on the most technocratic of technocrats: economists who have served time in the trenches of the very common currency they helped to create in the 1990s. As the euro has melted down, the Greek prime minister, George Papandreou, has stepped aside, replaced by Lucas Papademos, an economist. In Italy, the embattled billionaire PM, Silvio Berlusconi, is being moved aside to make room for Mario Monti, another economist.

The message to Europeans is pretty clear: politicians created this mess, and now the people who actually know what they're doing with the economy will get us out. Try to imagine what this would be like in America. We'd kick Obama out of the White House and replace him with...an executive from a consulting firm. Oh, wait...didn't Mitt Romney work for Bain & Co. back in the day?