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June 17, 2005

Transcript



TONY AND TACKY

PAUL GIGOT: Winner and losers, picks and pans. Tony or Tacky, our way of calling attention to the best and worst of the week. Phil Jackson is back in the game, returning to coach the LA Lakers once again -- whether Kobe Bryant likes it or not. Jason?

JASON RILEY: Well the knock on Phil Jackson has always been that despite his success heıs only interested in coaching championship caliber teams. I mean, between his stint in Chicago under Michael Jordan and his prior stint in LA under Shaquille OıNeal, the guyıs got more rings than Saturn. This time, however, heıs taking on a team, a real challenge, a team that was under 500 last year and didnıt even make the play-offs. Heıs got his work cut out for him, and I think itıs admirable that he wants to take up this challenge, in light of the fact that other, better teams were interested in him.

PAUL GIGOT: And he leaves for a year and gets a four million dollar raise.

JASON RILEY: Well, yeah.

PAUL GIGOT: I think you and I need his agent. Thanks. Palm Beach, Santa Monica? No, welcome to Ocean City, New Jersey, one of the fastest-growing beach communities in America. Dan, is that Tony or Tacky?

DAN HENNINGER: Well, this is a tony to a place thatıs often called impossibly tacky -- New Jersey. Now unfortunately, New Jerseyıs reputation is defined almost wholly by the strip of Turnpike that runs from the Newark Airport up to the Holland Tunnel. Well, THE WALL STREET JOURNAL has just reported that on the hottest vacation towns in the country, and in addition to Malibu, Pebble Beach and Newport, Rhode Island, there are at least 10 towns from the Jersey shore on that list, whose value has appreciated greatly in the last five years. Places with wonderful names like Spring Lake, Manasquan, Belmar, Brigantine, Beach Haven. These are the places that, when Bruce Springsteen sang about riding through mansions of glory out on Highway 9 -- Highway 9 is that road that runs right along the Jersey shore, and it looks like the mansions of glory are still rising out along Highway 9. And let me tell you, when that housing bubble pops, the sound is going to be a lot louder in Malibu than it is along the ancient boardwalks of the Jersey shore.

PAUL GIGOT: Ah, the ode to New Jersey. Thank you, Dan. And finally, John Fund wants us to know that all those years Francois Mitterand was president of France, extolling the virtues of French culture and commerce, that wasnıt some fine, French wine in his glass. Not at all, John.

JOHN FUND: Very tacky, Paul. Francois Mitterand was a man of taste, and he assembled a marvelous wine collection. Well, heıs been dead a few years, and his son has just been convicted of tax evasion and needs to raise cash, so he put it up for auction. The bottles sold very well, but in the process we learned Mitterandıs secret, which is he didnıt like wine. He never drank spirits and almost never drank wine. At the state banquets where he held forth, he constantly had his glass filled with -- gasp -- Coca Cola. So American cultural imperialism is at work, even in France, even under Mitterand.

PAUL GIGOT: Ah, the evil Americans once again. Thanks, John. Thatıs it for this edition of THE JOURNAL EDITORIAL REPORT. Thank you from all of us. Weıll be back next week and we hope youıll join us then.