JIMMY BUFFETT'S SMALLEST AUDIENCE EVER



Today, jurors in the trial against former-Tyco CEO Dennis Kozlowski viewed a video tape of an extravagant party help in honor of Mr. Kozlowski's wife. The Wall Street Journal (subscription required) reports:

The weeklong event, which included a birthday party for Karen Mayo, Mr. Kozlowski's wife, cost $2.1 million. About half of the cost was paid by Tyco, the rest by Mr. Kozlowski...



...Judge Michael Obus sided with the defense about which scenes should be edited out of the tape and which accompanying still photos shouldn't be shown, saying many scenes -- including still images of guests "mooning" the camera or jumping into the pool -- were of "extremely marginal relevance" to the case...



...Later on the video, pop musician Jimmy Buffett performed his version of Van Morrison's "Brown Eyed Girl." Mr. Buffett was paid $250,000 for the appearance. The party ended with an archer firing a flaming arrow, which set off fireworks. In sparklers, a sign read "Congratulations Karen and Dennis."

Mr. Buffett was paid a quarter of a million bucks to entertain a whopping 75 guests.



You can check out a clip of the video here. Having now seen an excerpt of the video, all I have to say is this: Dennis Kozlowski is a horrible dancer.

MORE CRAPPY NEWS ABOUT THE ECONOMY II



And from the New York Times, no less:

Wage increases for employees at almost all income levels are giving important and unexpected support to the nation's economy. If the gains continue, they offer hope that the rapid economic expansion of recent months could prove more durable than other spurts of growth over the last two years.



Forecasters expect the Commerce Department to say in its quarterly report on Thursday that the economy grew about 6 percent in the three-month period ending in September, which would be the fastest pace since 1999. Most of that growth stemmed from a sharp rise in consumer spending, driven largely by a continuing boom in mortgage refinancing and checks that were mailed out as part of the recent tax cut.

What? The President's tax cut may be spurring economic activity, as predicted? The Democrats are going to run out of issues, folks.

JUXTAPOSITION



This weekend, Pope John Paul II proclaimed Mother Teresa to be among the blessed. This same weekend, US audiences made "Texas Chainsaw Massacre" number one at the box office.

ALAS, HOWARD DEAN, MORE GOOD ECONOMIC NEWS



Howard Dean and the other dwarves keep blasting the economy just as good news hits the wire (via Reuters):

Consumer sentiment rebounded in early October while U.S. home builders accelerated new construction in September to a near 17-year high, according to two reports that added to this week's evidence of fast-paced economic growth.



Other data this week have revealed that while consumer spending eased in September, spending was far stronger in August and July than originally estimated. That means gross domestic product in the third quarter could have been as high as 7 percent -- the best since the end of the late-1990s boom.



The University of Michigan said its preliminary gauge of consumer sentiment rose to 89.4 from a final reading of 87.7 the prior month, beating forecasts.



"It shows that consumers are sensing some good news on the job front and the income front," said Kurt Karl, head of research at Swiss Re in New York.



A separate report from the U.S. Commerce Department ( news -web sites ) showed ground-breaking for new homes jumped 3.4 percent to a seasonally adjusted annual rate of 1.888 million units in the month, beating expectations and up from an upwardly revised 1.826 million pace in August.



Taken together, the news this week has had many economists upwardly revising forecasts for growth and employment next year. Federal Reserve ( news -web sites ) officials have also expressed optimism that the hearty pace of expansion will lead to healthy hiring soon.

Still want to repeal all of the Bush tax rate cuts, Mr. Dean?

BUSH GETS HUGE VICTORY IN THE U.N.



The weasels adopted the US Iraqi rebuilding resolution unanimously (via FoxNews):

UNITED NATIONS���In a slam-dunk vote, the U.N. Security Council approved Thursday a U.S.-drafted resolution to help reconstruct Iraq.



All 15� Security Council (search )�members -- including Syria -- voted in favor of the measure to authorize a multinational force under U.S. command and call for troop contributions from other countries. The measure also seeks "substantial pledges" from the 191� United Nations (search )�member states.



U.N. Secretary General Kofi Annan (search ) commended the�council members for having reached a "significant agreement on what obviously is an important resolution to address a complex situation in Iraq.



"The process has been difficult but the outcome is a clear demonstration of the will of all the members of the Security Council to place the interests of the Iraqi people above all other considerations."



Earlier in the day, Germany, Russia and France announced that they would back the resolution.



That decision -- announced by German Chancellor Gerhard Schroeder at a European summit in Brussels -- marked a dramatic shift by the three European countries, who had bitterly opposed the U.S.-led war in Iraq.>

Here's what this means: President Bush is now garnering more support from the likes of France and Germany than from members of the Democratic party here in the US.

HERE'S THE MAP - DOES IT LOOK FAMILIAR?



This map looks very similar to that famous county-by-county map of the last Presidential election.

MISSION ACCOMPLISHED



Gray, you are SO fired. Welcome to Sacramento, Governor Schwarzenegger!