Wednesday Morning Links -- Not The Bakken -- For the Bakken, Scroll Up or Down

Updates

March 11, 2013: French millionaires still leaving the country to avoid taxes; most probably going to Belgium or London. 

Original Post

Wells coming off confidential list have been posted. When you get to the link, scroll down.

Miscellaneous Links/Briefs

Homeless to a billionaire, rags to riches, born in 1944. Grew up in poor single-parent home.  First job at age 9.

From the Los Angeles Times: doomsday for the southern California toll roads. I recall having driven on one of these toll roads. I was amazed at the high toll, and that was years ago. The "freeway" was almost entirely empty. I could tell then that the toll roads were in deep trouble, and that was years ago.

From Yahoo! In-Play: United Tech to sell Pratt & Whitney Power Systems unit to Mitsubishi Heavy Industries.

From Yahoo! In-Play: Sempra Energy's Sempra U.S. Gas & Power receives final approvals for power-purchase agreement with Southern California Public Power Authority: Co announced that the cities of Los Angeles and Burbank have approved a 20-year agreement to purchase 250 megawatts of solar power from Sempra U.S. Gas & Power's proposed Copper Mountain Solar 3 project to be constructed in Boulder City, Nev., approximately 40 miles southeast of Las Vegas. The Copper Mountain Solar 3 agreement provides the Los Angeles Department of Water and Power with the bulk of the power produced by the solar power plant -- 210 MW -- through an agreement with the Southern California Public Power Authority (SCPPA).  

WSJ Links

Section D: nothing of interest.

Section C: 
New player joins the pension fray: why the interest? Rhode Island's rollback of public-employee retirement benefits has turned the small state into a national battleground over pension.

High energy prices or E&P is spent: bad news for the oil industry in unlucky '13.

Section B: nothing of interest.

Section A: 

Front page story -- unions dealt blow in UAW's home state -- did not read. CarpeDiem.com weighs in -- with graphs that even Detroit high school students should be able to read.

Page 2, huge story, only story on page 2: court backs loaded guns in public -- did read -- the Seventh US Circuit Court of Appeals struck down an Illinois law enacted decades ago which barred people other than those in law enforcement from carrying a loaded gun outside the home or carrying unloaded guns that can easily be reached. This will end up in the Supreme Court.

US judge approves A123 sale to China's Wanxiang. It is interesting to see how familiar the Chinese company names are becoming. I think Americans would warm up to investing in Chinese companies if the names were, should we say, more Anglicized. I assume Wanxiang is pronounced "wan-chang" or "wan-ching." I assume in the not too distant future we will see a Chinese start-up named "Quaxiang." Pronounced "ka-ching."

Hollywood wimps out and makes a formula film -- Holman W. Jenkins, Jr, "Promised Land"

Op-ed: we can't fix the budget in secret. Did not read -- written by a US Senator. Wrong. We can fix the budget in secret. We fixed the US health care system in secret.

Op-ed: French millionaires flee to Belgium. I remember receiving a comment some time ago saying Belgium taxes were higher than French taxes. No source, so not posted. In fact, French taxes are higher than Belgium's: a) proposed high income tax rate, French, 75%; Belgium 54%; b) Belgium has no capital-gains tax on equities; under Hollande, the capital-gains tax rate will go from 20% to 35%; Belgium lacks any "wealth tax." French "wealth tax" will kick in at 0.5% on assets over 800,000 euros.

Busting the trust fraud: Ohio cleans up tort bar's asbestos bankruptcy scam. Did not read.