ALL NEW: Workout with Bill Phillips – LIVE!
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If I had to do it all over again
Are you ready to start today?
As most know by now, professional golfer Tiger Woods was arrested Monday morning for DUI (Driving While Under the Influence). Full video of the arrest can be seen at the end of this story. What has often been cut out of newscast videos of the incident is that one of the officers said that he smelled “some odor coming from you” after asking if Woods had been drinking. But Woods’ blew twice into an Intoxilyzer machine registering zero alcohol. It came out later that Woods may have been under the influence of legal prescription medication and not alcohol as the police officer had assumed and clearly lied about. If the officer did smell alcohol, then he needs retraining — perhaps at a bar.
Lying about smelling alcohol or marijuana is a common tactic used by police even though they do not smell those substances, in order to justify in their…
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Writing for Reason, Eric Boehm has a story showing that “all of the above” may be the right answer.
But I Am an Engineer
At first it seems like a story about government greed.
When Mats Järlström’s wife got snagged by one of Oregon’s red light cameras in 2013, he challenged the ticket by questioning the timing of the yellow lights at intersections where cameras had been installed. Since then, his research into red light cameras has earned him attention in local and national media – in 2014, he presented his evidence on an episode of “60 Minutes”…on how too-short yellow lights were making money for the state by putting the public’s safety at risk.”
Three cheers for Mr. Järlström. Just like Jay Beeber, he’s fighting against local…
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UPDATE May 25, 2017:
So, we thought we’d check in to see how the portfolio was doing. The portfolio was posted on August 2015 and as of today, it has risen 53.3% while the DOW has risen by only 20.62% and the S&P by 15.47%. Our best-performing stocks have been Paypal and NVR; while the one outlier is owning a small amount of Bitcoin (in this example, the NYSE Bitcoin Index) which has risen well over 1,000% during our timeframe. Too bad we didn’t devote more money toward it. Bitcoin was a relatively small portion of the portfolio, but now it has become the single largest part of the portfolio. Even without the Bitcoin phenomena, the portfolio still would have performed well, especially for an “invest and forget it”/low-risk type strategy.
Late yesterday, May 8, 2017, the City of Boca Raton and the Greater Boca Raton Beach & Park District sat down to discuss what to do with a closed private golf course in the Boca Teeca area of Boca Raton. I have talked to many residents about the purchase over the last three weeks and almost all said the price was excessive, especially when they learn that appraisals came in for millions less. But those “in the know” have told me that even though they don’t like it either, I am wasting my time going up against the purchase because it is basically a “done deal.” The residents of Boca Teeca want it and the City Council wants it, so it’s “done.”
The City of Boca Raton is a well-run city overall, though, like most everything, it is not perfect. Members of the City Council are looking to enhance the city at every turn which is their job. But does that include being a bank? If the Beach & Park District wants to buy the golf course, let them get their own financing. Oh, that’s right, they can’t. So, the city should bow out and not be in the banking business.
The privately owned golf course closed the same reason golf courses across the country are closing, fewer people are playing golf, and the situation is not getting better, it is getting worse. Why plunge $24 million to buy the property and another $10 million to improve the property when there is less interest in playing golf.
The last city council meeting I was at, there was a big to-do and proclamation about conserving water. Adding a golf course to city limits is not water conservation.
I guess it comes down to the philosophy of whether governments should be in the golf business and if so, how much are the taxpayers willing to pay each year for the maintenance of that golf course? Although the Beach & Park District presented they would likely make a $1.95 million profit each year, the City of Boca Raton’s western golf course lost just shy of $500,000 last year. Rarely, if ever, do government-run golf courses make a profit. It is hard enough to do in the private sector, which is why this course was closed. Even the famed Arnold Palmer Golf Managment company couldn’t make it work, but apparently, those on City Council and Beach & Park District know better or are willing to roll the dice. We’ll see how it plays out.