Posted on 08/02/2002 3:14:37 AM PDT by kattracks
In a defining stroke of statecraft, U.S. Ambassador John Negroponte has served notice to the United Nations that its years of treating Israel as a whipping boy are over. He and President Bush will brook no nonsense from the international community.Henceforth, the ambassador told Security Council members, Washington will use its veto power to kill any Middle East resolutions that fail to clearly and fully denounce Palestinian terrorism. To survive, any such resolution must include explicit condemnations - by name - of Hamas, Islamic Jihad and the Yasser Arafat-linked Al Aqsa Martyrs Brigades, all of which practice and exult in the massacre of Jews.
The Bush/Negroponte initiative eloquently rejects the concept of moral equivalency: the false argument that those who slaughter civilians to achieve their ends are as justified as those who strike militarily in self-defense. It also puts the American imprimatur on a central principle - that evil must be condemned and battled wherever it exists, be it the caves of Afghanistan or the suites of the green glass Secretariat Building on First Ave.
The U.S. has vetoed resolutions in the past, often standing as Israel's lone protector on the Security Council. But spelling out in advance conditions required for acceptable resolutions is virtually unprecedented. And, in this instance, absolutely necessary.
The Arab states and their supporters have a penchant for floating measures that castigate Israel for defending itself. It is one thing to offer sympathy for Palestinian loss of life - it is quite another to deliberately ignore Israeli victims or to fail to speak honestly about Palestinian terrorism.
Yesterday, the UN finally determined that Israelis did not slaughter hundreds of innocents in the Jenin refugee camp, as Palestinians had alleged. The dead numbered 52, and almost all of them were armed terrorists, just as Israel asserted. Acknowledging that represents one of the few times the UN has managed to deal with Mideast facts, not fiction.
Negroponte drew the line in the sand before this week's bombing at Jerusalem's Hebrew University. Hamas' claim of responsibility for the carnage only underscores the wisdom of the U.S. diplomacy.
In the face of the atrocity - seven people, including five Americans, murdered (and Arabs dancing triumphantly in the streets, as on Sept. 11), Bush declared, "I am furious." But Team Bush is doing much more than expressing outrage - it is courageously defending the Jewish state on the world stage.
The United Nations has been placed on notice. Truth will be defended. Evil will be denounced. And America will not back down.
GE glows
Looks like GE really does bring good things to life. Along with a handful of other companies, it will begin listing its employee stock options as expenses. The result: more accurate, and honest, profit statements.
Employee stock options constitute a true expense to a corporation's bottom line and should be reflected as such. Because they have a definable cash value, they should be disclosed to investors.
GE, the nation's most valuable company, now joins Coca-Cola, Bank One, The Washington Post, Amazon.com and a few other firms in doing the right thing.
But doing the right thing doesn't come cheap. By "expensing" the fair market value of the options, GE will reduce this year's profits by $30 million.
GE also is implementing a holding period on executive options, thereby removing the incentive to pump up the stock's short-term profits at the expense of long-term stability. The execs will have to keep their stock for at least one year after exercising their options. That will keep them from trying to artificially boost the price right before dumping their shares.
These are sound practices and should be standard policy for all public companies.
In 1995, the Financial Accounting Standards Board, which sets accounting rules nationwide, said that companies should treat stock options as expenses. But this was offered as a suggestion, not a requirement. Big mistake.
When the FASB meets later this year to take up the issue, it must order the rule change. In lieu of the board's acting, Congress should enact legislation. Except at some decent corporations, like GE, honesty is in short supply.
You can e-mail the Daily News editors at
voicers@edit.nydailynews.com
Please include your full name, address and phone number. The Daily News reserves the right to edit letters. The shorter the letter, the better the chance it will be used.
The American board has long thought that options should be treated as an expense but backed down on that requirement in 1994 under heavy political pressure led by Senator Joseph I. Lieberman, the Connecticut Democrat.
To put this in perspective:
For the quarter ending 3/31/2002
GE's Total Revenue: $30,521,000,000
Net Income $2,503,000,000
Adjust by <$30,000,000> greater expenses under this accounting change.
Adjusted Net Income $2,473,000,000
Obviously not that big of a deal for a GE.
And now GE Stockholders have to ask themselves one question: “ Are the executives worth an extra $30,000,000 every quarter?
President Bush and his administration show true leadership and courage in dealing with the UN re: their treatment of Israel and the terrorism attacks that continue. The non-massacre at Jenin admittal by the UN is quite refreshing to read about.
Finally, in President Bush and his UN team, someone to stand up and speak up for Israel on the world stage.
But, then, Bill Clinton is ready to fight and to die for Israel!!!! HA HA HA HA HA HA HA HA HA HA HA!!! right.....
Clinton, in this mornings headlines is quoted as hypocritically saying he would go into the trenches and die there for Israel and he wouldn't even do this much for them.
He is so theatrical, and not even very good at it. "Transparent" comes to mind.
We are so fortunate to have President Bush leading this great nation of ours. Imagine once again the horrifying prospect of the President algore we almost had.......(shudder)
Thanks for the ping, Gretchen!
Well, it would help him with the legacy thing. In fact, it would improve it tremendously. Bill, you just might have hit on the right idea. Might help Hillacy's ambitions too. (We'll take care of her for you after you fulfill your destiny in Israel, but don't worry about that now.) So, by all means, Bill, back up your present line of thinking with action. Remember how important your legacy is!
ROFL! Wouldn't it be a hoot - if one of the Israeli Generals took Bubba up on his LIE and issued an "honorary commission" in the IDF - and then - issued a DRAFT SUMMONS for Bill to come and fight for Israel as all good IDF soldiers would do when duty called!!!
Then, we could enjoy watching Bubba squirm his way out of a military draft for the 2nd time in his sick life!!!
Right. That rag has seen the light after September 11 and recent events in Israel. I've been boycotting the News for years (wouldn't even accept the PM give-aways they hand out at subway entrances) but must admit that I've been sneaking looks at its editorial page from other people's copies.
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