Neal Aronson and Atlanta's Roark Capital Group

An article in the Atlanta Daily News, “Roark Capital Group Builds Trust, Helps Franchise Companies Grow,” provides some interesting background about a relatively new private equity firm in Atlanta.
The article begins:

ATLANTA – In only a few years, Roark Capital Group, an Atlanta-based private equity firm, has made significant headway in debunking many of the stereotypes associated with the private equity industry. To become the strategic partner of choice, Roark is working with the people behind the franchise brands to create long-term solutions by committing capital to expand systems while also providing liquidity and estate planning for owners.
As an increasing number of high-quality franchise companies seek ways to strengthen their brands and increase the number of successful franchise locations, many are gun-shy about entering the often misunderstood world of private equity for their needs. Roark is establishing a strong track record of supporting companies and building upon existing infrastructures and core brand integrity.

What’s in a name:

Roark was named after architect Howard Roark, the protagonist in Ayn Randâ??s classic â??The Fountainhead.â? Howard Roark refused to succumb to conventional wisdom while many of his peers altered their architectural designs to follow the latest trend and gain fleeting notoriety. The book concludes with the former architectural elite exposed as frauds, and Roark revealed as a true visionary with unwavering commitment to integrity.
Rather than investing in the latest fad and looking for a quick exit, Roark seeks opportunities to support the long-term growth of businesses through strategic oversight and additional capital investment. Having actually operated franchise businesses, the partnerâ??s at Roark appreciate the challenges of managing a growing franchise system and actively support their portfolio companies and its management partners in good times and bad.

The man behind the company:

â??Our goal is to be the preferred strategic partner and capital source for franchise companies by earning the trust of those with whom we do business,â? said Neal Aronson, founder and managing partner of Roark Capital Group. â??We abide by the highest ethical and moral standards while treating our management partners, franchisees, investors, lenders, and advisors, with dignity and respect, creating a long-term win-win proposition.â? […]
Prior to forming Roark, Aronson was a co-founder and CFO of U.S. Franchise Systems, Inc. (USFS), which began with 12 people, one brand and 22 open franchised hotels in nine states. Within five years, USFS became the 10th largest hotel franchise company in the U.S. with 200 people, three brands and 500 open franchised hotels in 49 states and five countries. After 14 years in the finance arena, Aronson started Roark.

See the full article for more information.

Who Should Foot the Bill for Katrina?

As the cost of the devastation wrecked by the hurricane in Louisiana and other Southern states keeps escalating, the question is raised: who should foot the bill for the damage? Jack Chambless, Economics Professor at Valencia Community College in Orlando, Florida, answered the question unequivocally: Not the federal government. Chambless stated that “not one taxpayer dollar should go toward rebuilding the city of New Orleans.” Invoking the U.S. Constitution, Chambless argued:

[W]e have every obligation to provide for New Orleans in terms of charity, private charity from one person to the other. But the founding fathers never intended, Article One, section Eight of the Constitution, never intended to provide one dollar of taxpayer dollars to pay for any disaster or anything that we might call charity.

(For reference, article One, section Eight of the Constituion states: “The Congress shall have power to lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defense and general Welfare of the United States.”)
Chambless concluded by making a case for the free market: “Between charity and between people making rational decisions about where they would like to live and buying insurance if they can afford it, you will still have people living in these areas.”
Read the entire transcript.
Chambless was a guest at the Fox News show “The World with Neil Cavuto” on Tuesday, Sept 30. The show’s host, Neil Cavuto, asked another question in his daily column. He wondered where was the international relief aid provided for disasters around the globe: “When this kind of stuff happens to other folks, we’re there. When this kind of stuff happens to us, who’s here?”
Update: House Speaker Dennis Hastert (R-Illinois) announced that: “It makes no sense to spend billions of dollars to rebuild a city that’s seven feet under sea level.”

Republicans Flunking Limited Government Test

Radley Balko has an excellent article on FoxNews exposing the modern Republican party’s abysmal record of enforcing limited government. Not that this is a news flash, for most people. But it’s alarming nonetheless, and Balko does a nice job of summarizing the key failures.
His article begins:

The Washington Post reports that in 1987, President Ronald Reagan vetoed a transportation bill passed by Congress because it had 157 “earmarks”â?? money set aside for Congress members’ pet projects that would ostensibly be considered too wasteful to pass as laws on their own merit.
Reagan made a show of his veto. It was a symbolic stroke against government waste, against the Democratsâ?? tradition of, for example, diverting every federal highway through West Virginia, then naming it after Sen. Robert Byrd.
Fast-forward to 2005. Republicans control the White House and both houses of Congress. Early on a Saturday morning in August â?? the day of the week, and the month of the year, least likely to attract media attention â?? President Bush signed into law a highway bill passed by his own party with more than 6,000 earmarked projects.
Bush signed the bill after sternly telling his party he’d veto any highway bill that spent more than $256 billion. He promptly “adjusted” that figure to $284 billion after complaints from party leaders. The bill Bush ultimately signed came at a price of $286 billion, $295 billion if you count a few provisions disguised to make the bill look cheaper than it actually is. Not exactly holding the line.
The Republican Party’s wholesale abandonment of limited government principles has been on display since President Bush took office. Government spending under the GOP’s reign has soared to historic highs, any way you want to measure it. And in stark contrast to President Reagan â?? or even the president’s own fatherâ??President Bush refuses to rein in spending. He hasnâ??t used his veto a single time since taking office â?? the longest such streak in U.S. history.

See the full article for more details.

The Ideas behind the Gaza Strip Withdrawal

Paul Eidelberg, a political scientist at the University of Chicago, detects the ideas behind the Israeli unilateral withdrawal from the Gaza Strip. He writes:

It began when the leaders of Israel, superficially good men, began to consort with profoundly bad men. I am referring to Israeli prime ministers, the leaders of a reputed democracyâ??ostensibly a good regimeâ??began to negotiate publicly with Arab tyrants, i.e., the rulers of bad regimesâ??and did so in quest of â??peace.â?
By negotiating with bad men, Israeli prime ministers dignified them and thereby obscured the difference between just and unjust regimes. In other words, Israeli prime ministers initiated what is now called â??moral equivalence.â? By so doing, they morally disarmed their own people. They lowered their peopleâ??s moral standards as well as their peopleâ??s sense of honor.

In an op-ed at the onset of the withdrawal process two years ago, Robert Tracinski observed:

Justice demands that one judge rationally the character and conduct of those one deals with, rewarding the good and punishing the evil. To insist on diplomacy as an unqualified virtue–regardless of the nature and conduct of one’s foe–does not save lives or resolve conflicts; it merely rewards and emboldens the aggressors.

As Ayn Rand wrote in Atlas Shrugged, “In any compromise between food and poison, it is only death that can win. In any compromise between good and evil, it is only evil that can profit.”

Atlas Shrugged Movie Update: Synopsis Available

Baldwin Entertainment has provided a synopsis of their Atlas Shrugged movie they have under development:

ATLAS SHRUGGED
Written by: Jim V. Hart
Based on the novel ATLAS SHRUGGED by Ayn Rand
GENRE: Action Drama
LOG LINE: Dagny Taggart, one of the great heroines of modern literature, struggles to fulfill her great-grandfatherâ??s legacy as she steers her familyâ??s railroad conglomerate through the triple threat of government corruption, international terrorism and a mysterious force that is silencing the great thinkers of the day.
SYNOPSIS: Ayn Randâ??s groundbreaking novel foresees an American future eerily similar to the future that America faces today. The politics of fear embodied by stringent government regulation and irresponsible foreign policy have driven American society to the brink of collapse. Against this backdrop, Dagny Taggart wrestles her corrupt and dissolute brother for control of their great-grandfatherâ??s railroad conglomerate. Determined to live up to her ancestorâ??s name, Dagny steers the railroad through a minefield of government sabotage, domestic disintegration, and international terrorism. All the while the destruction of the American way is hastened by a mysterious force that is silencing the great thinkers of the day. Their disappearance inspires a universal sense of fatalistic dread that is summed up by the new popular catchphrase: â??Who is John Galt?â?
TIME PERIOD/LOCATION: Near future â?? United States

Atlasphere member Diana Hsieh points out what could be some potential problems with this approach to the plot.

Is Donald Trump Like an Ayn Rand Character?

The CyberGolf web site has this to say about The Donald:

Donald Trump emerges from his helicopter that has just landed on the golf course at the Trump National Golf Club in Bedminster N.J., ready to play a round of golf and captain one of the teams in the annual Writers Cup. He has entered our lives much like a character from an Ayn Rand novel, many times swimming like a salmon upstream: he has overcome naysayers, governmental agencies and regulations, recessions in the economy and competitors in order to produce superior products. From ice rinks to skyscrapers to golf courses. The common thread that joins all of these diverse projects is Trumpâ??s dedication to superior products and a relentless pursuit for the best.

Does the analogy hold up? Judge for yourself.

16-year-old Advertises Ayn Rand on Her Backpack

According to the Chicago Tribune, a 16-year old high school student in Chicago has found a, er, novel way of promoting Ayn Rand’s books:

WILMETTE — Marlo Goldstein wanted to be different, and she likely will be with an Ayn Rand advertisement on her backpack when New Trier Township High School opens Wednesday.
She thought up the idea of auctioning her backpack space on eBay, and Jeffrey Leone of Wilmington bit. He paid $102.50 to promote Rand, a writer and philosopher, for six weeks.
Leone, 44, a general contractor, said Goldstein’s target audience was a good fit for Rand’s work, including “The Fountainhead.”
“It’s a very popular book with high school students, and I’m a supporter of the Ayn Rand Institute,” Leone said of the Irvine, Calif.-based group. “I wanted to reward her originality and creativity, both virtues that are personified in `The Fountainhead.'”
Goldstein, 16, of Wilmette said the advertising idea came from some friendly family competition and other eBay auctions.
“I wanted something different, that no one else had done,” she said. “I talked it over with my parents, and we weren’t going to accept anything inappropriate. That’s why we set the opening bid at $99.”
Goldstein, who said she will be trying to maintain an A average as a junior and hopes to study engineering in college, designed the ad.
For Leone, “The only expectations I have are similar to putting up a regular billboard, and that’s to raise awareness of the institute and the book.”

Music with an Ayn Rand Connection

Interested in hearing some of the “tiddleywink” music Ayn Rand loved so much? Check out this page on “Music with an Ayn Rand Connection.”
The author begins:

I have have had an interest in the popular music from the early decades of the 20th Century since childhood. When I was in my early 20s I discovered and became an admirer of the writings of Ayn Rand – the author of the philosophically provoking best selling novels The Fountainhead and Atlas Shrugged. A few years later, I was amused to learn that Rand enjoyed a type of turn of the century popular music that she called “Tiddlywink Music.”
Of course, there is no such formally recognized musical genre. “Tiddlywink” seems to have been the name that Ayn Rand gave to music that she responded to in a certain way. The music does not seem to come from from any one particular genre: Canadian Capers is an example of ragtime; El Choclo is a tango.
When I discovered that Rand enjoyed music from the same era that I do, I became very curious as to what specific tunes she liked and classified as Tiddlywink music. Unfortunately, only a few examples have been cited in books and lectures about her. Because I find it fascinating when different interests of mine meet, I always try to keep an eye open for recordings with an Ayn Rand connection. There are two obstacles that I face in doing so. One is the previously mentioned limited information. The other is the fact that locating specific vintage recordings can sometimes take a lot of time. As I find them, however, I will transcribe them to Real Audio and place them on this site.

See the site for much more information.

The FairTax Book Tops NY Times Bestseller List

As we’ve mentioned before, the FairTax Act is probably the most viable opportunity we’ll see in our lifetime to eliminate the dreaded and immoral IRS.
Today we learned that the book which describes and promotes the Act in layman’s terms, The FairTax Book, will debut at the top of the New York Times non-fiction bestseller list.
As Neal Boortz explains on his blog:

This means so much for The FairTax movement. Any book that rises to No. 1 creates a buzz … whether it’s about teenaged wizards or tax reform. Well … especially tax reform. This just doesn’t happen. Books on tax reform don’t go to No. 1. So now opinion makers, politicians, pundits, editorial writers, reporters, columnists and others will take notice and start paying attention. This will result in more and more efforts such as this opinion piece that appeared in the Clark Times-Courier in Berryville, Virginia.
Late yesterday I was notified that a writer and photographer from a major national magazine will join the book tour today to see just what is going on here. This will mean that more and more Americans will become aware of the essence of the FairTax, and what it can mean to both their personal financial picture and to the American economy. As the people become aware this idea becomes more and more impossible for the political class to ignore.

If you haven’t already done so, this is a good time to check out the book, buy yourself a copy, and consider signing the FairTax petition as well.
UPDATE: For updated news about the FairTax plan, visit the Fair Tax Blog.