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781  Other / Politics & Society / Re: Turns out that Hobby Lobby holds assets in emergency contraception production on: July 05, 2014, 11:03:40 AM
Earnings AND costs. The expense ratio of a typical screened fund is going to be over 1%. The expense ratio of an index fund can be as low as 0.05%.
782  Other / Politics & Society / Re: Turns out that Hobby Lobby holds assets in emergency contraception production on: July 05, 2014, 10:22:13 AM
Quote
I am a social liberal
Most lawyers seem to be social libertarians/liberals.



Quote
, and I agree with the decision as well. But I disagree that it could or should be broader. The Court can only decide the case before it and it exceeds its mandate if it decides anything broader.
It can have a chilling effect, however. Look at how many court challenges there are to same-sex marriage right now, for example. So many people whose rights are being violated. That's a case where the court could have very easily broadened the scope of its ruling. But it chose not to ... which is typical of this court because it has no balls. #YesAllWomen
I don't think that judicial restraint and only deciding cases and controversies before you (the constitutional requirement, by the way) means that they have no balls. I think it means that you are seeing a retrenchment from an activist judicial philosophy that dominated the federal courts for years.
783  Other / Politics & Society / Re: Turns out that Hobby Lobby holds assets in emergency contraception production on: July 05, 2014, 10:19:49 AM
The story is a bit old, but I haven't been following it very closely:

Mother Jones has discovered that Hobby Lobby which is seeking exemption from certain aspects of the Affordable Care Act on religious grounds surrounding contraception benefit requirements (a case it has won), actually invests (through their retirement fund) in companies that produces emergency contraceptives and abortion related products.

According to Mother Jones:
Quote
Documents filed with the Department of Labor and dated December 2012 (see above)—three months after the company’s owners filed their lawsuit—show that the Hobby Lobby 401(k) employee retirement plan held more than $73 million in mutual funds with investments in companies that produce emergency contraceptive pills, intrauterine devices, and drugs commonly used in abortions. Hobby Lobby makes large matching contributions to this company-sponsored 401(k).

These companies make up 3/4ths of Hobby Lobby's 401k assets.
Source: http://www.forbes.com/sites/rickunga...ous-objection/
401k is the employees money, not the company's investments. Honestly this is evidence the company is reasonable and isnt trying to force the employees to follow the company's rules on investments.


Good luck picking a group of index funds/etfs without a pharmaceutical company ...
1.) The Greens have their 401k's set up through their company as well.

2.) There are 401k plans specifically set up for religious groups in order to avoid holdings in companies that produce contraception, use stem cell research, etc.

3.) As management, they are the ones who give the marching orders on their 401k plans.
The Forbes author does not understand 401(k) plan laws or fiduciary duty. I was an ERISA lawyer for 5 years. Trust me, he is dead wrong.
I'm perfectly open to that, but I find it odd that religious 401k options would exist if companies could never choose them. Do you have any supporting evidence for your claim?
Special Etf/index funds exist, but that doesn't mean a 401k would have them.
His point is that the plan administrator could include those funds and only those funds, but did not. My point is that that this would not be consistent with the fiduciary duty to plan participants.
784  Other / Politics & Society / Re: What good things has Obama had since he is elected ? on: July 04, 2014, 06:37:31 PM
See no good, hear no good, speak no good.  Long for the days of losing 700,0000 jobs per month.  Change the way we have historically tallied unemployment to make the numbers all look worse.

92 million americans.....many of which are children and retired baby boomers.   But the number sure sounds awful.  There are more people working today than in 2009.   That is driving you nuts.
785  Other / Politics & Society / Re: Turns out that Hobby Lobby holds assets in emergency contraception production on: July 04, 2014, 06:34:41 PM
You are simply wrong. They may cite other cases, but this was a statutory interpretation case, not a precedent-based or constitutional case.
786  Other / Politics & Society / Re: Turns out that Hobby Lobby holds assets in emergency contraception production on: July 04, 2014, 06:28:08 PM
Thank god this legal door was blown open then, as obviously the convictions here were so strong. Has anyone here read the Hobby Lobby decision? How would you characterize the holding?
It has no balls.


People calling it a "landmark case" are hyperbolic. There is nothing landmark about it. The court has already recognized the personhood of non-natural persons many times over, including under the RFRA. I don't find it to be very remarkable or surprising that a non-natural person who also happens to have a net income was also recognized as a person under RFRA. Anyone who didn't see that coming is a naive leftarded child.

As for the lack of balls, I'm referring to the fact that it provides no guidance for similar religious challenges. Yes, the blogosphere is squawking about how the decision may not be as narrow as the court would like. The blogosphere, however, is effectively wrong. Because the holding says that it's narrow in scope, any future claims hinging on broader scope will be challenged by citing the court's claim that it was narrow in scope. Ultimately, the court will have to clarify whether its decision is narrow or broad, effectively making it narrow since broader interpretations will just wind up back in the court anyway until the court effectively broadens the scope of its ruling. In short, blogosphere is wrong, decision is narrow in scope.


As noted by Ginsburg:

    Would the exemption the Court holds RFRA demands for employers with religiously grounded objections to the use of certain contraceptives extend to employers with religiously grounded objections to blood transfusions (Jehovah’s Witnesses); antidepressants (Scientologists); medications derived from pigs, including anesthesia, intravenous fluids, and pills coated with gelatin (certain Muslims, Jews, and Hindus); and vaccinations (Christian Scientists, among others)? 31 According to counsel for Hobby Lobby, “each one of these cases . . . would have to be evaluated on its own . . . apply[ing] the compelling interest-least restrictive alternative test.” Tr. of Oral Arg. 6. Not much help there for the lower courts bound by today’s decision.

    The Court, however, sees nothing to worry about. Today’s cases, the Court concludes, are “concerned solely with the contraceptive mandate. Our decision should not be understood to hold that an insurance-coverage mandate must necessarily fall if it conflicts with an employer’s religious beliefs. Other coverage requirements, such as immunizations, may be supported by different interests (for example, the need to combat the spread of infectious diseases) and may involve different arguments about the least restrictive means of providing them.” Ante, at 46. But the Court has assumed, for RFRA purposes, that the interest in women’s health and well being is compelling and has come up with no means adequate to serve that interest, the one motivating Congress to adopt the Women’s Health Amendment.

    There is an overriding interest, I believe, in keeping the courts “out of the business of evaluating the relative merits of differing religious claims,” Lee, 455 U. S., at 263, n. 2 (Stevens, J., concurring in judgment), or the sincerity with which an asserted religious belief is held. Indeed, approving some religious claims while deeming others unworthy of accommodation could be “perceived as favoring one religion over another,” the very “risk the Establishment Clause was designed to preclude.” Ibid. The Court, I fear, has ventured into a minefield, cf. Spencer v. World Vision, Inc., 633 F. 3d 723, 730 (CA9 2010) (O’Scannlain, J., concurring), by its immoderate reading of RFRA. I would confine religious exemptions under that Act to organizations formed “for a religious purpose,” “engage[d] primarily in carrying out that religious purpose,” and not “engaged . . . substantially in the exchange of goods or services for money beyond nominal amounts.” See id., at 748 (Kleinfeld, J., concurring).


In general, I agree with the decision, but I would have liked to have seen a broader scope decision that provides guidance to address these issues.
I am a social liberal, and I agree with the decision as well. But I disagree that it could or should be broader. The Court can only decide the case before it and it exceeds its mandate if it decides anything broader.
787  Other / Politics & Society / Re: Turns out that Hobby Lobby holds assets in emergency contraception production on: July 04, 2014, 06:19:47 PM
Quote
First, some of the stuff in his article none of us can prove, and the Forbes author claiming this stuff is true makes him lose all credibility. Most prominently is his argument that the Greens are participants in the plan and hold the offending assets. While it may be true that the Greens are employees of the company, the 5500 form does not show you whether they actually participate and, if they do, what their holdings are. We simply do not know.
Do you find it standard for management to opt out of their own company's 401k programs?You haven't provided any supporting evidence that they couldn't chose existing options designed to avoid such moral clashes.
I would not say it is "standard," but it is not uncommon. Many officers and senior managers have top hat compensation plans or other separate plans. Sometimes owner-managers hold funds out so they can reinvest it in their business. Very often, they do not invest much or anything so that they can meet the non-discrimination test.

They could not hold any index funds.
So in other words, this is an assumption as well and one that doesn't generally favor standard practices (by your own admission). I acknowledge that the author didn't source the 401k participation by the Greens (and the burden of proof would fall on him), so I am left with the decision to either investigate further myself which I don't really care to do since, as previously stated, I'm not very interested in the topic, or choose between a slight inclination towards either Forbes or you. i'm willing to listen, but you haven't yet explained to me why religious 401k options for businesses exist if businesses aren't allowed to ever choose them.

I also find the argument that it is harder to choose a religious minded 401k option to be an uncompelling defense seeing as how they were perfectly willing to threan closure and take the government all the way to the Supreme Court over small details of their health insurance. They don't seem to have any qualms with slight inconvenience on that front.

I also don't think that they maliciously or even knowingly put their assets in those companies. I find it much more likely that it represents a minor case of managerial negligence in terms of being informed. I just find it a rather ironic happenstance.
You likely will not find anything on the Greens' investments. It's not in the 5500. Also, I did not say it was not standard. I would guess it is probably 50/50. For example, the company I work for has a very generous 401(k) plan, which includes a 10% employer contribution (not match, but outright contribution). Notwithstanding the generosity, none of the company's owners participate in the 401(k) for tax and liability reasons.

Businesses can choose the moral 401(k) plans, but it's only really an option for smaller companies. Let's say Hobby Lobby had picked a "moral" (by their definition, not mine) menu of investments. These investments are indisputably higher cost than standard index funds. Any of the 12,000 plan participants could have written a letter to the plan administrator and fiduciary at any time and said I think you are not acting in my best interests by not offering index funds, which are lower cost. What is the fiduciary's answer to that?
788  Other / Politics & Society / Re: Turns out that Hobby Lobby holds assets in emergency contraception production on: July 04, 2014, 06:04:50 PM
I am excited that this ruling will allow Jehovah Witness owned businesses to exercise their right to not buy any insurance plans that cover blood transfusions. I am also relieved that it will allow Christian Scientist owned businesses to not even buy insurance for their employees, but will instead provide bibles as medicine for only faith in God can cure illness. And all those Scientologist owned businesses? They will now be allowed to forgo purchasing plans that cover psychiatric care. Yeah America! LET FREEDOM RING!!
That will not happen. Read the decision. How were they wrong? Explain to me why it is wrong.
Explain your understanding of natural law first so there is a base from which to work from?
This has nothing to do with natural law. It was an interpretation of a positive law, the Religious Freedom Restoration Act of 1993.
789  Other / Politics & Society / Re: What good things has Obama had since he is elected ? on: July 04, 2014, 05:57:12 PM
Barack Insane OdumbASS OFailure burns America down


Huge Jobs Report: The U.S. Economy Added 288,000 Jobs in June
The latest jobs report has some actual good news for the economy

http://www.nationaljournal.com/economy/huge-jobs-report-the-u-s-economy-added-288-000-jobs-in-june-20140703

 On top of that good news comes positive revisions for job gains in May and April. The May report was revised up from 217,000 jobs to 224,000, and the April report was boosted from 282,000 to 304,000. Average hourly wages are up two percent since last June


 Dow Jones Industrial Average hits 17,000 for first time

http://www.bbc.com/news/world-28134342


U.S. private job gains in June largest in one and half years

http://uk.reuters.com/article/2014/07/02/uk-usa-economy-idUKKBN0F71TG20140702?type=GCA-ForeignExchange

In a separate report, the National Federation of Independent Businesses said small business hiring increased in June for a ninth straight month, the longest string of gains since 2006.

 

Jobs and Car Sales Expected to Show U.S. Economy Rebounding
http://www.newsweek.com/jobs-and-car-sales-expected-show-us-economy-rebounding-256597

 

a fifth straight month of job gains above 200,000, a run unmatched since the Sept 1999-Jan 2000 period, just before the dot-com bubble burst.

"If we settle at a 215-220 (thousand) pace that would be consistent with a transition to a faster pace of growth of around 3 percent," said Lewis Alexander, U.S. chief economist at Nomura.



Highest market ever

Most months in a row over 200,000 jobs added since Clinton.

More small business hiring that any time since 2006.

Damn that Obama for burning down this country.  How I long for the days of Bush in 2007 when we were losing 700,000 jobs a month.  At least he loved America!!!


790  Other / Off-topic / Happy 4th of July !!!! on: July 04, 2014, 05:56:57 PM
http://www.youtube.com/watch?v=2aRpCujDUbo
791  Other / Politics & Society / Who is the Speaker going to file a lawsuit with? on: July 04, 2014, 05:54:41 PM
Supreme Court? I would think they would throw out this suit, because it's political bullshit so boenher can keep his job. But 5 conservative judges might go for it. Question is, can democrats sue a republican president. the stats the media keeps showing is that Obama has issued far fewer executive orders than his predecessors.
792  Other / Politics & Society / Re: Turns out that Hobby Lobby holds assets in emergency contraception production on: July 04, 2014, 05:37:41 PM
I am excited that this ruling will allow Jehovah Witness owned businesses to exercise their right to not buy any insurance plans that cover blood transfusions. I am also relieved that it will allow Christian Scientist owned businesses to not even buy insurance for their employees, but will instead provide bibles as medicine for only faith in God can cure illness. And all those Scientologist owned businesses? They will now be allowed to forgo purchasing plans that cover psychiatric care. Yeah America! LET FREEDOM RING!!
That will not happen. Read the decision. How were they wrong? Explain to me why it is wrong.
793  Other / Politics & Society / Re: Turns out that Hobby Lobby holds assets in emergency contraception production on: July 04, 2014, 05:31:14 PM
Quote
Even if it is, if the decision is right under the law, then why does it matter?
Well, the decision is right under the law. It's the Supreme Court. They are The authority that determines what is right under the law.

But it matters because the law can be wrong.
This case was decided in 1993 when the law at issue was passed by Clinton and a Democratic legislature.
This case was decided on June 30, 2014.
I know that, and it is based on a law passed on 1993. That's not correct; it is based on the text of a 1993 law.
794  Other / Politics & Society / Re: Turns out that Hobby Lobby holds assets in emergency contraception production on: July 04, 2014, 05:21:53 PM
Quote
First, some of the stuff in his article none of us can prove, and the Forbes author claiming this stuff is true makes him lose all credibility. Most prominently is his argument that the Greens are participants in the plan and hold the offending assets. While it may be true that the Greens are employees of the company, the 5500 form does not show you whether they actually participate and, if they do, what their holdings are. We simply do not know.
Do you find it standard for management to opt out of their own company's 401k programs?You haven't provided any supporting evidence that they couldn't chose existing options designed to avoid such moral clashes.
I would not say it is "standard," but it is not uncommon. Many officers and senior managers have top hat compensation plans or other separate plans. Sometimes owner-managers hold funds out so they can reinvest it in their business. Very often, they do not invest much or anything so that they can meet the non-discrimination test.

They could not hold any index funds.
795  Other / Politics & Society / Re: Turns out that Hobby Lobby holds assets in emergency contraception production on: July 04, 2014, 05:13:52 PM
One is perfectly capable of debating the merits of actions outside of the letter of the law. In fact, the development of good and just lawsets depends on such public discourse and oversight.
I don't agree with that. Positive law is only "good" or "just" when measured against natural law, not public discourse. Public discourse is often the enemy of the good and the just.
Tell that to the inhabitants of the DRCongo who legally had to pay around 300% of their business revenues to the central government.
What are you talking about? That would be an example of a positive law that violates natural law. No debate needed.
796  Other / Politics & Society / Re: Turns out that Hobby Lobby holds assets in emergency contraception production on: July 04, 2014, 04:59:17 PM
Quote
Even if it is, if the decision is right under the law, then why does it matter?
Well, the decision is right under the law. It's the Supreme Court. They are The authority that determines what is right under the law.

But it matters because the law can be wrong.
This case was decided in 1993 when the law at issue was passed by Clinton and a Democratic legislature.
797  Other / Politics & Society / Re: Turns out that Hobby Lobby holds assets in emergency contraception production on: July 04, 2014, 04:52:28 PM
First, some of the stuff in his article none of us can prove, and the Forbes author claiming this stuff is true makes him lose all credibility. Most prominently is his argument that the Greens are participants in the plan and hold the offending assets. While it may be true that the Greens are employees of the company, the 5500 form does not show you whether they actually participate and, if they do, what their holdings are. We simply do not know.

Second, he ignores IRS and DOL rulings saying that non-economic factors can only be considered if they are truly cost and return neutral. Pointedly, he does not propose an alternative, ESG screened investment menu that would satisfy the fiduciary duties.
798  Other / Politics & Society / Re: Turns out that Hobby Lobby holds assets in emergency contraception production on: July 04, 2014, 03:56:59 PM
One is perfectly capable of debating the merits of actions outside of the letter of the law. In fact, the development of good and just lawsets depends on such public discourse and oversight.
I don't agree with that. Positive law is only "good" or "just" when measured against natural law, not public discourse. Public discourse is often the enemy of the good and the just.
799  Other / Politics & Society / Re: Turns out that Hobby Lobby holds assets in emergency contraception production on: July 04, 2014, 03:40:16 PM
1. There were several litigants. The ruling wouldn't have changed in any meaningful way. Hobby Lobby would have simply lost standing* or whatever. MotherJones would have then been crying about how Conestoga Wood Specialties Corporation's owner's step-brother's uncle's cousin's Jewish nephew's dogsitter's sister's best friend once bought Plan B.

*I say they'd lose standing because there were other plaintiffs alongside Hobby Lobby, hence "Hobby Lobby, et al.," and since the court was still compelled to rule on Conestoga, it would likely include the other plaintiffs alongside Hobby Lobby while simply excluding Hobby Lobby. I believe one way to do this is to deny standing to Hobby Lobby.



2. As I understand it, it was a finding of fact that Hobby Lobby's owners were sincere in their convictions, which would mean that the onus would then be on HHS to challenge their sincerity, which they did not do (apart from challenging sincerity of Hobby Lobby's religious convictions on the grounds that for-profit corporations cannot hold religious beliefs, let alone sincere ones).

From the syllabus:

    It is not for the Court to say that the religious beliefs of the plaintiffs are mistaken or unreasonable. In fact, this Court considered and rejected a nearly identical argument in Thomas v. Review Bd. of Indiana Employment Security Div., 450 U. S. 707. The Court’s “narrow function . . . is to determine” whether the plaintiffs’ asserted religious belief reflects “an honest conviction,” id., at 716, and there is no dispute here that it does. Tilton v. Richardson, 403 U. S. 672, 689; and Board of Ed. of Central School Dist. No. 1 v. Allen, 392 U. S. 236, 248–249, distinguished. Pp. 35–38.

Held:

    The companies in the cases before us are closely held corporations, each owned and controlled by members of a single family, and no one has disputed the sincerity of their religious beliefs.



3. Denying a person their religious rights because of some perceived hypocrisy is ... probably not constitutional.

As noted in Ginsburg's dissenting opinion:

    I agree with the Court that the Green and Hahn families’ religious convictions regarding contraception are sincerely held. See Thomas, 450 U. S., at 715 (courts are not to question where an individual “dr[aws] the line” in defining which practices run afoul of her religious beliefs).
Oh I'm not questioning the ruling from a legal perspective. I never have, nor do I even begin to posses the legal skills and knowledge to be able to do so. My argument has always been more personal based on economic well being and utility gains coupled with ideology, it has never been based around law.
Even if it is, if the decision is right under the law, then why does it matter?
800  Other / Politics & Society / Re: The OTHER SC Ruling...Union Slap Down on: July 04, 2014, 03:37:54 PM





[Man I missed the Dank - Void fights, when Dank had those horrible giant red XXX. But the chess tournament between sana and unmair do bring more intellectual values...

Don't mind me, I am just passing by Smiley]






IMAO Thank you Wil, I love debating and there is no hard feelings if Im proven wrong, to me this is all about keeping an open mind to what others have to say about certain issues.
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