Occupy Protest to be Held on UC Irvine Campus

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It looks like UC Irvine students are going to try their hand at the Occupy game once again with another protest. The Irvine contingent of Occupy Orange County has been Tweeting support  for the event, which is set to take place Wednesday at 11 a.m. on Ring Road, the main drag through campus.
 
Billed as a Teach-In & Student Rally, this will be the second Occupy-style action to take place on the campus. The last occurred on October 19, and by the Register's account, saw a less than stellar turnout.



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John Gilhooley
​ Reg scribe Mark Eades reported the event was attended by about 40 people who stood in a circle and read from an Occupy Wall Street manifesto. 

Though modest when compared to the Santa Ana protesters who recently braved arrest or Irvine protesters tangling with the city council, one can hardly blame UCI students for being timid when it comes to expressing free speech--especially in lieu of the Irvine 11 conviction

The Occupy UCI Facebook page, made reference to the last event being announced hastily and made attempts to rally the troops once again with fiery rhetoric. "This is our generation's fight," the page reads in all caps. "Don't let yourself grow up in a world that is actively working against you!"

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Liberty427
Liberty427

The occupy wall street (bowel) movement comes to Irvine which proves, beyond a doubt, that these people have way to much time on their hands.

Briansays
Briansays

On Oct. 25, just days before the company collapsed, Corzine told investors that MF Global’s exposure to European government bonds was fine. These were “opportunities” to make good money, he said, and the position was “fully financed.” He added: “We remain confident that we have the resources and expertise to continue to successfully manage these exposures to what we believe will be a positive conclusion in December 2012.”   And this was in print — no mere throwaway quote on a phone call. Corzine added that over the past three months, a few things really stood out. “We were particularly pleased with the repositioning of our mortgage, credit and foreign exchange businesses; the performance of our commodities group; and the common alignment of our brand to strategy. These efforts reflect positively on our ability to execute and deliver competitive returns to shareholders in the quarters ahead.” Ah, good times!   “The Company’s risk-management framework is an integral part of our control structure,” it boasted in is most recent quarterly filing. “Our risk management approach emphasizes compliance with our risk management policies and practices and each employee’s responsibility to function as a risk manager.”   MF Global recently undertook a new review of its risk management process. Given that the company blew up a few months later, you might assume that this review found flaws. Not at all. “The results of the review, together with certain aspects of our risk management framework, support our conclusion that the Company’s compensation programs do not encourage unnecessary risk-taking. Moreover, we believe that there are in effect adequate safeguards that would prevent, discourage or detect excessive risk-taking.” So that’s OK, then! They had a “framework.” And “compliance.”   Stock options are free chips in the casino. These guys walk into the casino and they are given armfuls of free chips. They are encouraged to gamble.   If they win, they get to keep it all. If they lose? No biggie. They can just mooch on down the Strip to the next casino, where they will be given another big pile of free chips.   This doesn’t “align” their interests with stockholders. It doesn’t encourage them to build a business. It encourages them to take big gambles.   Corzine had also invested about $3 million of his own money in the stock as well. On the other hand, he was paid $2.75 million in cash just last year, on top of the options and incentives. That included a $1.25 million bonus.   No kidding. The guy just got a bonus.   Up until a week ago, I’ll bet you hadn’t even heard of MF Global. And you probably still don’t understand what it is they did. But guess what? This just cost you money. The biggest investors included various Fidelity mutual funds, TIAA-CREF, and low-cost index fund manager Dimensional Fund Advisors. But pretty much any mutual fund that invests in the U.S. stock market has money in this stock  

Briansays
Briansays

We are all Marxists now  But no, I’m not talking about Karl Marx. I’m talking about Groucho: He’s the guy who really predicted how the modern economy would evolve.   MF Global says that it employs about 3,000 people. And these were good — meaning high-paying— jobs. According to the latest filings, the average MF Global employee earned about $46,000 last quarter — or $184,000 a year.   That’s the average. Account for the support staff and so on, and the traders and risk-takers were pocketing serious coin.   It’s pretty much the same across Wall Street. But what are they actually doing? They’re just playing poker against each other. They’re engaged in an “industry” that produces neither iPhones nor brain scans nor pizzas. There is no output. There is no wider social purpose. They just trade paper against one another. Like most of Wall Street, it’s just a zero sum game.   Hard to believe, but there are actual people — lots of people — who think that what the U.S. economy needs is more MF Globals to trade against one another. Then our employment problem would be solved!   Former Fed Chairman Alan Greenspan once told a crowd in Boston that America should pretty much leave manufacturing to China and concentrate on our “core competence” of running financial firms. Like MF Global, no doubt. Or Lehman Brothers.   Me? It just reminds me of the opening sequence of the Marx Brothers classic, “A Night At The Opera.” It was filmed in 1934, at another time when jobs were in desperately short supply.   Margaret Dumont, playing a rich, social-climbing widow, is rebuking Grouch Marx, who plays an adventurer called Otis B. Driftwood. “Mr. Driftwood,” she says severely, “Three months ago you promised to put me in ‘society.’ In all that time, you have done nothing but draw a very handsome salary!”   Grouch looks at her in astonishment. “You call that nothing?”   Let it be said of MF Global: They created nothing and added nothing. But up until today 3,000 employees drew a very handsome salary. Paging Otis B. Driftwood! Your time has arrived.   Some economy.  

UCIalumus
UCIalumus

The asians will just use it as study hall. All you have to do is get a couple of them and you are set since they travel in packs.

S.A. Artist
S.A. Artist

Awesome,   10 years from now Chapman U. might even catch up to the idea.    

909Jeff
909Jeff

Only if the occupiers run around the circle in their undies... 

professional hater
professional hater

Aww c'mon Towelie.  Irvine isn't all bad.  It made a sociopath like me.  In fact, It's a conveyor belt factory for sociopaths.  Don't you just wanna raise a family there?

Jjlamain
Jjlamain

Doesn't seem to me like a kid going to UCI has alot of room to complain.

Magnus Jacobsen
Magnus Jacobsen

Why shouldn't they complain? The UC are planning to raise tuition fee by 80% over the next 4 years. Even you should complain about this, as its going to hurt California and the US tremendously.

Liberty427
Liberty427

Explain how this is going to hurt California and the US "tremendously."

Towelie
Towelie

Funny. Irvine is the biggest joke as far as a city is concerned in the US. It's slightly worse than Scottsdale. But, that's like comparing shit to piss.

909Jeff
909Jeff

Isnt Scottsdale where everyone from Irvine goes to retire if they make it past Rancho Mirage? 

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