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Kasich, Rubio, Fiorina, Christie and Cruz did well in the second debate. The candidates took aim at Donald Trump and some of his odd comments. Jeb Bush's performance did not stand out. The debate going on for 3 hours on CNN is seen as too long by viewers.

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The long collaboration, discussions and exchange of ideas between Romney and Ryan, that preceded the selection of Ryan as the Republican vice presidential candidate. Romney worked hard to win Ryan's support from the conservative wing of the party and Ryan checked his ideas for Medicare reform with Romney's.

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Italian prime minister Berlusconi's last week in office in November 2011. Berlusconi's failure to help renew Italy's economy after many years in office. Instead Belusconi led Italy into a major financial crisis by hanging onto power long after the international community and financial markets had lost faith in him.

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Mr. Isom, a seasoned airline manager, is brought in by Doug Parker to fix problems from late flights and related to the working of the merger between America West and US Airways. On time performance has improved. Mr. Isom is working on a long term plan for improvements.

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Hugo Dixon says the deal made by eurozone leaders for Greece in July 2011 favors private creditors. The bondholder haircut was much smaller, eurozone governments and taxpayers will make up the difference. This he says is like a cat in the bag presented to the receiver as a pig as long as he does not look inside, called a "poke." Dixon says that if Greece cannot implement austerity measures under a new government and the deal has to be renegotiated bondholders may face a larger haircut than the 20% under the current arrangement. It would have been better he says to do this now but the ECB's threats may have led to the German and French governments treating private creditors with kids gloves.

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The emphasis on clarity in communicating monetary policy taken by Ben Bernanke at the U.S. Federal Reserve. This is of special significance as political parties in the U.S. face tough fiscal cliff negotiations in Dec. 2012. The Fed laid out its plan on interest rates in clear and precise terms, giving for the first time a specific figure on unemployment of 6.5%. The Fed plans to keep rates low till unemployment drops to 6.5%, as long as inflation is subdued at about 2-2.5% and long term inflation expectations remain low. A similiar approach was adopted by Mario Draghi of the European Central Bank by clearly communicating intentions for buying bonds of Spain and Italy in July 2012 with his statement "Believe me this will be enough." This contrasts with the style of central bank chief Shirakawa at the Bank of Japan which has led to serious criticism in Japan.

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India is building a tunnel that will be five miles long in the Pir Panjal range of the Himalayan mountains. This will enable trucks carrying supplies to Ladakh from Kashmir to bypass the Rohtang Pass. India is also upgrading its infrastructure on its side of the mountains facing Tibet and China.

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Lang Son, Vietnam, in the China-Vietnam border war of 1979. Residents talk of the destruction during that conflict. The VIetnamese government restored relations with China following the conflict. The situation has changed with differences over the South China Sea and drilling rights in the area claimed by both countries.

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Arango and Gordon look at Abadi's background- including long years suffering persecution from the Saddam Hussein government in Iraq, including 2 brothers murdered- and see both hope because of his period of 2 decades spent in London alongside skepticism that he can make the transition to bringing Sunnis and Shiites together.

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Jeb Bush starts his election campaign at Miam Dade College Kendall campus in June 2015. The campaign faces a long road ahead with many Republican contenders in the field, including other governors. Jeb Bush tried to distance himself from the family name with a focus on "Jeb" for the logo.

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In this interview of very personal remarks made to business groups and revealed by Reuters, Carrie Lam, Hong Kong's Chief Executive, says she would be relieved greatly if she quit. She called her actions unforgivable given the mood of most of Hong Kong people today in 13th week of protests. "What I did was unforgivable," she said.  Carrie Lam had a good reputation in Hong Kong as a dedicated civil servant when she assumed the office. She had not anticipated the turn of events from the push into Hong Kong sovereignty by Beijing since the umbrella movement leading up to the extradition bill. In her words- "For a Chief Executive to have caused this huge havoc to Hong Kong is unforgivable. It's just unforgivable." In this rare conversation remarks, Lam comes across as someone who was caught in the middle between protestors and Beijing. "The political room for the chief executive, who unfortunately has two masters, the Central People's Government of China and the people of Hong Kong, that political room for maneuvering is very, very, very limited." What is her ideal situation. "The first thing I would do if I had a choice, is to quit, with a deep apology. I make a plea to you for forgiveness." For Hong Kong people, especially the young it was about the rule of law, for Beijing a sense of the Hong Kong region as being a part of the neighboring area of Shenzen and of China. She says she sees no intention of China to send in the People's Liberation Army from her own feeling the pulse, from her discussions. She says China is playing "a long game." There is just too much at stake for China. "They care about China's international profile. It has taken a long time to build up that sort of international profile, and having a say as a big economy, as a responsible big economy, so to forsake all those international developments is clearly not on their agenda." For her personal life this has been very difficult as she can rarely go out in the middle of these protests, not even for a haircut or shopping. Hong Kong was handed back to China by Britain in 1997 under formula of "one country, two systems." With the Hong Kong system, rule of law, free speech guaranteed under that agreement for 50 years transition period.  ...

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Cutter and Adams of the WSJ show the inner workings of a large consulting firm, McKinsey & Company. A University of Chicago professor started the firm in 1926. By the 1960's the firm would hire new graduates and train them in its consulting culture to do studies and make recommendations on issues facing client companies. Consultants are not hired for long  experience in each field, they are hired from top business schools and universities upon graduation and trained in the company culture. Work involves extensive travel from different offices, with long hours typical also of the financial firms, with little acknowledgement of worklife balance for productive effort even after the pandemic. Cutter and Adams do not cover an earlier period of McKinsey during the financial crisis of 2008 with a controversy around insider trading information about Goldman Sachs which hurt the reputation of McKinsey.  The WSJ investigation into 1MDB Malaysia fund scandal showed Goldman Sachs involvement leading to less confidence in large financial firms as well as consulting companies. This consulting business is growing after the pandemic with about half of it related to companies seeking to prepare and set up AI. This report looks at the new setup in McKinsey where hundreds of senior partners now elect the head of the firm for two 3 year terms. The head of AI at McKinsey is challenging the the current head of the firm in an upcoming election. It cannot be said that consulting firms are improving the management of companies, as more companies today use it sparingly and mostly for special needs or studies including AI. As a result these consulting companies are using the same branding mechanisms, and as Cutter and Adams point out, these professional service firms are run by partners through a system of extensive wining and dining, talking and communicating, so that people who can set an internal consensus do well. The process of development of management skills in the US dating back to Alfred Sloan at General Motors when Mr. Mckinsey started his firm at University of Chicago in 1926, and to Andy Grove founder of Silicon Valley in the 1970's, with their  emphasis on constructive confrontation and skills Grove later outlined in his book "High Output Management" has little to do with such consultancy firm services. Even less can it be said about these consultany services that they have anything to do with the management intuition, vision, wisdom and skills of Matsushita in his book "Not for Bread Alone, Akio Morita in "Made in Japan," or for Grove's unique perspective in "Only the Paranoid Survive."  ...

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There is a price for a socialist state run society adopting capitalism without understanding it. Russia experienced this in the 1990's as the Soviet system collapsed and the capitalist system took its place by 1990 with flagrant abuses. Only to be stabilized in the Putin years till the war in Ukraine affected the Russian economy. China avoided this fate by continuing its accelerated path to industrialization till the 2009 financial crisis. But hidden in its seemingly successful modernization effort was the role of LGFV's and selling of land to support the LGFV's. Local governments did not take on debt themselves, they passed on the debt to Local Government Financing Vehicles LGFV's- about 8 trillion dollars of debt 80%-90% not serviceable for interest payments, zombie status requiring borrowing for annual spending.  Most city councils or mayors did not understand these vehicles were debt and some even asked "do we have to pay it back?" LGFV's were not understood by mayors and city councils brought up under a socialist state run economy. They used it to follow the central government in Beijing's orders to come up with projects to boost growth year after year to rates of growth of 10% in the 1990's and 2000's, heedless of the risks because they never really understood the capitalist system and its pitfalls.  As long as land could be sold there was some revenue for local governments and room for shifting $8 trillion in debt to other LGFV's. Once the construction industry collapsed and companies went bankrupt their were few buyers for land. The central government cannot take on some of this $8 trillion in debt. As a result China is now facing what the Russians faced - a crisis from lack of grasp of the severe pitfalls of capitalism when its risks are not understood for economies that were in the 20th century experiencing upheavals, wars and then socialist state run economies. What this means is that the Chinese economy will slow, has no choice but to slow down for the next decade to find solutions to this debt overhang over its economy and industrial plans. It also means China's support for Russia in the Ukraine conflict is also problematic for China's internal growth to meet the aspirations of its people. As long as the administration in the US continues to pursue its own economic policies for growth as Biden has done by investing in the American economy, it will have the opportunity to lead the free world and be able to hold out hope for aspirations of countries and regions such as India, Africa and Latin America. ...

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This editorial in the Journal provides reflections on U.S. foreign policy in the Obama years and advice for U.S. presidential candidate Mitt Romney before the third presidential debate on foreign policy on Oct. 22, 2012. It says the U.S. has always done better from a position of economic strength and defense preparedness in addressing foreign policy issues. It also points to the failure of president Obama to support the freedom struggle of the peoples of the Middle East, and a withdrawal from Iraq without securing an agreement that failed to consolidate the gains of the long conflict and resources spent in that region.

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This WSJ story provides a fascinating look at how Italy planned for too long, but failed to finally execute the final step of using the submersible steel floodgates that were already built to tackle just the kind of flooding that happened recently.  Problems include the use of submersible steel floodgates that would go back under water  after use in a flood, causing an additional complication to building the floodgates. The city itself was not entirely behind the plan so that execution was delayed. The politics and corruption added additional delays that astonishingly delayed the plan for over 10 years. About 80% of Venice was flooded with waters rising 6 feet above normal levels on November 12, 2019. It is hard to believe that 78 yellow steel barriers stayed on the seabed instead of blocking the three points at which water could enter from the sea into Venice. Most of the area has normal land barriers and the steel gates were designed to block water from entering at the smaller points that separate land barriers. It is also unbelievable that the plan started after a bad flood in 1966, construction beginning in 2003 after approval by over 12 public bodies, expert panels and courts on the complicated design. Costs went up as years passed from $1.7 billion to $5.5 billion. Ordinary Italians say Rotterdam has similar problems and has dams and no flooding, that the underwater design of the gates did not make sense just for aesthetics. Some experts say the underwater design doomed the project by making it costly and difficult, bureaucratic delays did the rest. The longer the delays and higher the cost the faster it eroded support in Venice and Italy, leading to this improbable result of building the flood gates with the underwater design, testing them but not making it operational in the final step, and not authorizing the use on November 11, 2019. The gates were in disuse astonishingly for so long that rust was discovered at one point.  Venice is now losing much of the population near its canals with only 50,000 remaining from a one time population of 171,000. The latest flood damage is over $1 billion and inexplicable after so much effort building the 74 yellow floodgates under water. ...

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This WSJ picture essay report from Afghanistan shows life in different provinces, and the road north from Kabul to Herat on the Iranian border. It says that while the Taliban restrict freedoms, the end of the fighting brings peace to the countryside so long plagued by war, and relief for Afghans from endless war.  It also is year of a severe drought that is expected to cripple agriculture, the worst since 1980. It was just this kind of drought in 1972 that crippled agriculture leading to a famine in the country under King Zahir Shah. For some 300 years since 1700 the British kept foreign powers out of the British Empire's surrounding regions including Afghanistan and Tibet. That drought led to the King's brother-in-law taking control of the country in 1974, conducting a repression of Communist leaders who responded by action inside the military leading to 2 communist factions inside the military taking control. These factions fought for control and invited the Soviets into the country with a friendhship treaty. India under prime minister Indira Gandhi had just fought a war in 1971 to set up a free nation of Bangladesh out of the old East Bengal. It had to deal with millions of refugees from Bangladesh in 1971-72 when these changes were taking place in Afghanistan. British policy had maintained peace for so long but Indira Gandhi was not aware of the dangers from the ousting of a king who had ruled since 1933 and the wars that followed. Bringing Russia into Afghanistan after centuries of peace led to the first error America made fighting a proxy war in Afghanistan under the Reagan policy. After a brief period following a ten year struggle and withdrawal of Russia, the US entered Afghanistan in a 20 year conflict which led to the withdrawal this year. President Biden finally ended the war saying Afghanistan had never been united in its history. Because of the far flung provinces and mountainous terrain, the nature of the country, this is correct. It is also a graveyard of empires which is why the British carefully, rigorously carried out a policy of no foreign powers in Afghanistan and Tibet, both neighboring India, ensuring peace since 1700. ...

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WSJ's Fidler describes the views of Victor Ruhe, a former German defense minister, on the Ukraine crisis and the EU's response. The EU's position for relations with Ukraine comes under criticism for being technocratic as in earler trade and aid negotiations, and not addressing the problems which Ukraine faces. This requires closer cooperation from the EU, and some costs the EU has been unwilling to assume. Ruhe says the best response for the EU is to turn Ukraine into a European success story. This means taking on the effort to gradually transform the corrupt and inefficient political and economic system, something the EU did over many years in the Balkans. EU leaders have signed an agreement with Ukraine's new government on political dialogue and security cooperation. Critical parts of the agreement for trade, law enforcement, anticorruption actions, and macroeconomics changes, will be signed after a new government is elected in May 2014 elections. The EU is in this for the long haul as political support will be needed for a new generation of politicians....

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PetroChina has signed agreement to take 1 million metric tons of LNG from the Gorgon project off Western Australia. This will diversify access from Middle Eastern sources.

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Why did Kraft Heinz wait so long (2027) to ban artificial dyes in food. Why was pressure from Robert Kennedy Jr and HHS needed for this to happen? This is a sad commentary on the people running American business, just as outsourcing hurt American workers and American communities across the landscape and continued as a practice from the largest US corporations well into the second DJT administration.

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New Hampshire is known from poet Robert Frost's days to chart out its own path. It did so yesterday in typical Robert Frost ways- "Two roads diverged in a wood and I- I took the road less traveled by, And that has made all the difference." Fettterman of Pennsylvania Masto of Nevada, Shaheen of New Hampshire and King of Maine all Senators who helped get 8 Senators to vote with Republicans on ending shutdown Nov 10, 2025. Tim Kaine of Virginia was pulled in because of the 300,000 federal workers in Virginia that are his constituents for whom he felt a special responsibility and negotiated with Republicans to reverse layoffs, get back pay. This may be a key achievement of Time Kaine that is truly bipartisan. New Yorkers Schumer and Jeffries not having a federal workforce to worry about had no such responsibility and led the effort against a compromise. Masto says she saw long lines in northern Nevada for food pantry that she had not seen since Covid. Maggie Hassan joined King and Shaheen from their part of Maine-New Hampshire, and Masto was able to pull in Jacky Rosen of Nevada. All these senators are not up for reelection next year and Dick Durbin is retiring next year. As an experienced leader of Democrats Durbin might have felt that the Schumer-Jeffries demand on ACA subsidies was only going to hurt Americans who needed help, that 40 days of shutdown was accomplishing little. ...

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The US government shutdown ends with Republicans + 8 Democrats in Senate voting to end shutdown on November 10, 2025. This keeps the filibuster voting rule which requires 60 votes to pass. Support of some Democrats was essential to make this happen. After bipartisan negotiations 7 Democratic Senators and Angus King Independent from Maine split with their party leaders Schumer and Jeffries of New York who called for a 1 year extension of Obama ACA healthcare subsidies which the Republicans opposed.  Democrats ensured the funding for SNAP benefits continues to Sept 2026 and the 4000 federal layoffs would be reversed and prevent future layoffs in the federal workforce. Democratic Senators voting with Republicans were Cortez Masto and Jacky Rosen of Nevada, Jeanne Shaheen and Maggie Hassan of New Hampshire. Tim Kaine of Virginia and Dick Durbin of Illinois joined the Senators from New Hampshire and Nevada. John Fetterman who has voted independently of the Democrat party to meet views of Pennsylvania constituents supported the move. This splits New Hampshire, Maine, Nevada, Illinois and Pennsylvania from the Schumer-Jeffries leadership from New York. Tim Kaine voted with Republicans by getting them to agree to reverse federal workforce layoffs, get back pay and stop layoffs. King, Hassan and Shaheen formed the core of Democrats who believed there was no chance Obama ACA subsidies would be extended for another year as long as shutdown continued whereas there was some chance after it ended. Both Senators from Nevada Rosen and Masto were following the needs of their constituents, and so was Fetterman of Pennsylvania. ...

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Prof. Adler remembers Scalia for his long fight to preserve statutory interpretation of the U.S. Constitution. He says after Scalia it is hard to imagine Justices of the Supreme Court not paying attention to the original meaning intended by the framers of the Constitution of the United States before rendering an opinion.

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Kramer, McIntire, and Meier of the NYT, provides this indepth account of Trump top campaign aide Paul Manafort's consulting work in Ukraine for Ukraine's president Yakunovych, ousted after protests in Kiev. Ukraine's newly formed National Anti-Corruption Bureau is looking into corruption in Ukraine's system, including corruption in the Yakunovych years. It is this corruption that has hurt Ukraine and other Eastern European countries in their move towards becoming properly functioning democratic states inside the EU or neighboring the EU. Much aid has been sent to Ukraine by Germany and the EU to help Ukraine develop a democratic and economic framework free of cronyism and corruption. Manafort's involvement with interests in Ukraine and Russia during a period of long and persistent protests in Kiev, followed by the ouster of Yakunovych and the war with Russia, when the policy of the U.S. and Europe was to protect Eastern European  member states of the European Union including Poland and the Baltic States, and reach some form of settlement in Ukraine, are controversial. Andrew Kramer of the NYT describes Manafort's consulting company's activities in Ukraine during this tense period, and how it may have have been counterproductive to the constructive efforts of the U.S. and the European Union. ...

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NATO Summit in Madrid comes right after the G7 Summit. Just days before the NATO Summit in Madrid a number of important steps are taken. The NATO Response Force is increased from 40,000 which lacked deterrence to 300,000. Additional military spending of $100 billion announced will increase spending by the amount of the entire Russian defense budget. Turkish backing for Finland and Sweden to join NATO was negotiated bringing more capabilities and a long border with Russia in the Baltic into the picture. The G7 Summit will be seen as setting the framework of close cooperation and understanding of leaders of western and eastern democracies in the world including Africa, Latin America and Asia. Invited were leaders of South Africa, Argentina, India and Indonesia, major parts of the Free World in the 20th century and now into the 21st century. NATO Summit in Madrid adds to these leaders the leaders from Australia and South Korea. The idea here is to address the changing situation in Asia with China's aggressive posture in the Himalayas, the South China Sea, and with Taiwan, and the close cooperation with Russia during its invasion of Ukraine. ...