Friday, November 30, 2012

Sandy delivers heavy blow to US economy

WASHINGTON (AP) ? Superstorm Sandy packed a bigger economic punch than most people had thought.

In its sweep through the Northeast, the storm halted sales at major retailers at the start of the crucial holiday shopping season, closed factories and slowed home sales in one of the most densely populated areas of the country.

On Thursday, for example, Kohl's, Target and Macy's blamed the storm for weak sales in November. Macy's and Nordstrom Inc. reported their first monthly sales drop since late 2009, when the U.S. economy was just emerging from the Great Recession.

And the government said this week that new-home sales plunged 32 percent in the Northeast last month and nearly 12 percent in the South. By contrast, sales surged nearly 63 percent in the Midwest and nearly 9 percent in the West.

Sandy is being blamed for about $62 billion in damage and other losses in the U.S., most of it in New York and New Jersey. It's the second-costliest storm in U.S. history after Hurricane Katrina, which caused $128 billion in damage in inflation-adjusted dollars.

New York is seeking $42 billion in federal aid, including about $9 billion for projects to head off damage in future storms. New Jersey is seeking nearly $37 billion in aid, including $7.4 billion for future projects.

Still, reports this week showed that the economic damage was confined mainly to the Northeast. In other parts of the country, the economy picked up in early November, when many New Yorkers were still without power.

And next year, rebuilding efforts in the Northeast could help jump-start the broader U.S. economy. That's especially true if Congress and the White House reach a budget deal that prevents sharp tax increases and spending cuts from taking effect in January.

Homes must be rebuilt, cars need to be replaced and many people are likely to step up spending once the storm's impact starts to fade. All that would help accelerate growth.

The U.S. economy grew at a moderate 2.7 percent annual rate from July through September, the government said Thursday. Weaker growth is predicted for the October-December quarter.

Sandy shut down businesses from North Carolina to Maine and cut off power to 8 million homes in 10 states. Many people could not go to work and weren't paid for weeks.

Applications for unemployment benefits rose to an 18-month high in the first week of November, driven by a surge in applications in New York, New Jersey, Pennsylvania and Connecticut.

Such applications have fallen sharply since. But the increase earlier this month will likely depress job growth for November. Many economists predict that net job growth for November will range between 25,000 and 75,000 ? well below the 171,000 jobs added in October.

A Federal Reserve survey released Wednesday said economic activity in October and early November slowed from the previous six-week period in three of its banking districts covering territory from Philadelphia to Maine. That contrasted with the Fed's nine other banking districts, which all reported improvement in growth.

"The storm caused bottlenecks in the production process," said Joel Prakken, senior economist at Macroeconomic Advisers. "If you don't have electric power and transportation, you can't do a lot of things."

The lingering damage from the storm is weighing on the economy at a time of great uncertainty caused by the approaching "fiscal cliff." That's the name for automatic tax increases and spending cuts that will take effect without a federal budget agreement.

Most economists predict economic growth will slow to an annual rate below 2 percent in the October-December quarter. And some say the rate will likely be closer to a meager 1 percent. Prakken said the storm could end up lowering the growth rate by a half percentage point.

But by next year, Prakken said cleanup and rebuilding will start to add to U.S. economic growth.

Many analysts say the region is poised to rebound quickly. Economists at the New York Federal Reserve Bank said Thursday that they expect the economy in the New York region to be back on track by early 2013. Recovery in hard-hit New York communities like Long Beach and the Rockaways will take longer, though.

In the first three months of 2013, the economy's growth could rebound to a rate of 2.5 percent, said Nigel Gault, chief U.S. economist for IHS Global Insight. Gault predicts a 0.4 percentage point boost from the rebuilding and other factors related to Sandy.

"We think that growth will improve as we go through 2013, but that is contingent on us not messing things up by going over the fiscal cliff," Gault said.

___

Associated Press writer Karen Matthews contributed to this report from New York.

Source: http://news.yahoo.com/sandy-delivers-heavy-blow-us-economy-220220553--finance.html

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Thursday, November 29, 2012

Virginia Business - News: 2012 Legal Elite Profile: YOUNG ...

November 29, 2012 6:00 AM

CATHERINE C. AYRES
DurretteCrump PLC
Richmond?

NewsTitle:?? Associate
Legal specialties:?? Business law, commercial real estate
Birthplace:? Norfolk
Education: University of Virginia, bachelor?s degree in economics; University of Richmond School of Law, law degree (cum laude)
Hobbies: Drawing, cooking, jewelry making, do-it-yourself projects
Fan of:? U.Va. Cavaliers
Favorite vacation spot: ??No favorite.? I like to travel to different places each time I go on vacation.?
Recently?read book: ?Sacr? Bleu? by Christopher Moore
Career mentor:?? Beverley L. Crump

How did you decide to become a lawyer?
?I decided that the law was for me after taking ?Law and Economics? at U.Va.? I was fascinated with the interplay between economic theory and the law, and I felt that my economic background provided me with a strong foundation for the practice of law.?

What advice do you have for students who will graduate this spring from law school?
?I would suggest that, in addition to whatever positions they have obtained for the summer, third-year law students look for part-time jobs with law firms during the school year.? This provides them with practical experience, a broader base of exposure, a possible foot in the door to the law firm at which they are working, and opportunity to develop contacts that may help them in their job searches.?

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Source: http://www.virginiabusiness.com/index.php/news/article/2012-legal-elite-profile-young-lawyers-under-40/321934/

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Save Senn | Your Auto Insurance Plan

Arlington Auto Insurance There are more drivers hitting the road each year. This can lead to an increased likelihood of a car accident. If you get in a car accident, the auto insurance you have can make a big difference in the experience you have. So how do you know what type of car insurance you need and how much to buy? Insurance requirements vary by state/province, but typically include the following: Liability: It pays for the expenses you are responsible for in a car collision, including injury and property damage. If you are in legal trouble, it also pays your legal fees. State laws typically mandate standard amounts, but larger amounts can be purchased and are usually recommended. Personal Injury Protection: Personal injury insurance is mandated in some states and is optional in others. It pays you or your passengers for medical treatment resulting from a crash, regardless of who may have been at fault, and is often called no-fault coverage. The minimum amount of personal injury protection is typically set by local government. Medical Payments: Medical payment coverage is available in non-no-fault states; it will pay regardless of who may have been at fault. All reasonable medical or funeral expenses will be covered under this type of policy. Collision: Pays for damages to your vehicle caused by a collision. Comprehensive: This kind of insurance protection covers any damages not caused by a collision. This may include fire damage, vandalism, and robbery. Uninsured Motorist: If you are hit by a driver without insurance, this type of insurance will make sure you are covered. Under-Insured Motorist: There are other drivers who have liability insurance that can?t cover all the expenses they are supposed to take care of. Under-insured motorist coverage covers you in accidents involving those drivers. Emergency road service, car rental, and other types of coverage can also be purchased. What you pay for auto insurance varies based on the company and will depend on multiple factors, including: * What coverage you select * The make and model of the vehicle you drive * Whether or not you have been in an accident * Your age, sex and marital status * The place where you live Don?t procrastinate buying auto insurance; you should never be on the road without it. Review your needs, research your options, and with the support of your insurance agent, make the decision that best suits you.

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Source: http://savesenn.org/your-auto-insurance-plan/

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Wednesday, November 28, 2012

Analysis: Stifel CEO puts reputation on line with KBW buy

NEW YORK (Reuters) - Over the past seven years, Stifel Financial Corp Chief Executive Ronald Kruszewski has impressed Wall Street with a series of acquisitions that quintupled the regional brokerage's revenue and rewarded shareholders with a nearly four-fold increase in returns over the last five years.

Still, some investors view Kruszewski's latest deal, to buy money-losing investment bank KBW Inc , as a much riskier proposition. Some question the wisdom of spending $575 million to build out a middle-market investment banking business at a time when tougher financial regulations are posing a threat to profits of giants such as UBS AG and Goldman Sachs Group Inc.

Moreover, after years of expansion, Stifel's board is starting to worry that Kruszewski may be overextended. Before announcing the KBW deal on November 5, the board was mulling whether to appoint a senior administrator or president to help him run the company, according to one director. Kruszewski is currently chairman and president, as well as chief executive.

"We talk about him moving too fast, and whether we have the infrastructure to move as fast as we're moving," said Robert Lefton, a psychologist who has been on Stifel's board for 20 years.

But he stressed that the board supported the KBW deal and was very happy with Kruszewski, who has been CEO for 12 years and is Stifel's largest individual shareholder with a 1.6 percent stake worth more than $26 million.

"He has a very clear sense of where he's heading," Lefton said. "When he came aboard, we were a struggling little regional firm barely eking out a living. He has put together what he told us he would."

Another board member echoed Lefton's comments. "Even if there is a modest recovery, (KBW) will be a very smart acquisition because he bought it off the bottom," said Robert Grady, a Stifel director and former Carlyle Group partner. "I wouldn't bet against him."

Kruszewski, 53, has said he wants to better balance revenue between the St. Louis-based company's retail and institutional brokerages. The deal to buy KBW, which specializes in advising small banks and thrifts on mergers and capital-raising, takes him closer to that goal.

If he succeeds, Stifel will be able to compete with Jefferies Group Inc - whose market value is twice Stifel's $1.6 billion - to raise money for companies with revenue of $100 million to $1 billion. Big banks like Goldman and Morgan Stanley largely ignore this middle-market segment.

Unlike Kruszewski's previous acquisitions, KBW brings complex integration issues. Stifel already has dozens of bankers, analysts and salespeople serving financial companies, so employees are worried that the merger could bring job cuts.

"He is already pretty exposed to the institutional securities business, and ... financial services is not a great business right now," said Susquehanna Financial Group analyst Douglas Sipkin. "He is a very smart guy, but it doesn't make a lot of sense to me."

In addition, money managers who trade through both Stifel and KBW do not want to pay twice for research and other products, so parsing the benefits of the merger becomes difficult.

"To distinguish between the two from Stifel's business perspective is going to be tricky," said Mark Kuzminskas, director of equity trading at Robeco Investment Management.

In an interview, Kruszewski defended the KBW deal, and said it and the 2010 purchase of Thomas Weisel Partners, which specializes in banking for technology companies, are core components of his middle-market corporate strategy.

"I'm not predicting that next year is going to be a blowout year for financial companies, but I'm not being reckless," he said. "Institutional (brokerage) is much more cyclical and, of course, you take a lot more risk. It is also a high profit-margin business when things are working."

Investors do not appear to be convinced. At Monday's close, Stifel shares had declined 2.9 percent this year, compared with an uptick of 1.1 percent for the NYSE Arca Securities Broker/Dealer Index.

CRAFTY NEGOTIATOR

Kruszewski, the son of a fireman from South Bend, Indiana, has an accounting degree and, according to people who have worked with him, a steel-trap mind for absorbing new data and translating it into action.

He demonstrated discipline earlier this year, passing on the acquisition of Morgan Keegan from Regions Financial Corp because the price was too high, Lefton said. Raymond James Financial Inc later purchased the Tennessee-based brokerage.

"At the beginning of every year, I have no idea what we'll do," Kruszewski said. "Strategic planning is for people who have too much time on their hands. Our plan is to be in a position to take advantage of opportunities."

KBW was one such opportunity. The company had lost more than $60 million since the financial crisis of 2008 and was cutting 15 percent of staff. It was also weighing radical changes in its operations after another down year for financial services deals and capital-raising, a person close to KBW said.

Kruszewski drove a hard bargain. He required about 95 key employees to waive change-of-control clauses that would have let them sell their shares, and he compelled them to sign noncompete agreements. He also won control of $250 million of cash on KBW's balance sheet to help finance the cash-and-stock transaction.

You never want to negotiate against that man," said Scott McCuaig, the retired president of Stifel Nicolaus, the company's principal brokerage subsidiary. "He gets his hands dirty and works deals until they come to fruition. Nobody is going to snooker him."

(Reporting by Jed Horowitz and Olivia Oran; Editing by Paritosh Bansal and Steve Orlofsky)

Source: http://news.yahoo.com/analysis-stifel-ceo-puts-reputation-line-kbw-buy-181032927--sector.html

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The Year of Motherhood: Serving Our City Together

This post was written by contributor Jamie Ivey.

In the eleven months of my year of motherhood challenge, I never imagined that this one would give me the most trouble. ?I would have looked ahead to November and thought ? EASY. ?I love our city. ?I love to serve. ?This will be a no brainer.

Instead it was super hard. ?I?m not sure if it was the time of year that made it hard. ?Are we too busy now? ?Oh that?s a lame excuse to not serve. ?Or is it my kids ages? ?Are they too young to get it? ?Yeah, even lamer. ?Kids only know what you teach them. ?Did I just not see the value in this?

None of my excuses seem to matter. ?I learned a lot about myself and my kids by looking back on this month. ?I learned that:

#1 Your kids only know how to serve if you teach them. ?When I take a meal to someone after they have had a baby I usually don?t bring my kids. ?It?s just easier that way, y?all know what I mean! ?But, unfortunately they never see me buy my favorite food for someone else instead of our family.

One thing that we?ve started this year is we have money jars and each of the kids has a spend and a give jar. ?They kick and scream each time we have them put money in the give jar, but I know that in a few weeks when we get out the Compassion International catalog and all pick out a goat for a family they will LOVE it!

#2 Kids are resilient. ?My kids threw a screaming fit when my mom and I took them shopping to buy presents for other kids for our Operation Christmas Child boxes. ?I told them they couldn?t get anything for themselves and you would have though I told them they had to eat broccoli for a month. ?They were SO distraught. ?And I was SO frustrated with them! ?BUT by the end of the shopping trip they were really putting all their heart and soul into picking out gifts for little boys around the world. ?I went from frustrated mom to very proud mom during that one shopping trip.

#3 Serving takes planning.??My mom came up one weekend to visit and we took our kids to fill up her shoeboxes. ?After that I planned on our family serving with a local business here that serves food to homeless people, and of course I kept forgetting to call and then before you know it, it?s Thanksgiving. ?Yes, we served by filling up shoeboxes for Operation Christmas Child, but our family didn?t serve together in the way I imagined. ?Serving takes planning, it doesn?t just happen.

?My goal for December is to actually do the Jesse Tree with my kids. ?Last year I had big plans to do this, and never did and that is actually what inspired the whole?Year of Motherhood challenge.??I?m happy to announce that we?ve already started because I have an amazing church that sends home a planner each week on what to read and even the paper to color. ?They know moms need a little help sometimes!

Bigger than me doing the Jesse Tree with my kids though is how I want to actually enjoy this month. ?I want my kids to love Jesus more after this month.??I want to love Jesus more after this month?. ?My hope and prayer for all of us in December is that we relish the time with our famiies. ?Cherish the small things and let?s show our kids that?Christmas is about Jesus and Jesus only.

Join this discussion. ?How do you help your kids keep Christmas about Jesus? ?Click?HERE?to share all your great ideas with all of us!

?

About Jamie
Jamie lives in Austin with her husband, Aaron, who is the worship pastor at The Austin Stone Community Church, and their four kids. She?s passionate about loving her husband, following Jesus, talking about adoption, and trying to be the best mom she can be to the four cutest kids in the world. She loves family nights, reading a good book, and could eat Mexican food three times a day. You can find her blogging at DreamingBigDreams.net, or on twitter @jamie_ivey.

Source: http://inspiredtoaction.com/2012/11/the-year-of-motherhood-serving-our-city-together/

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An Education in Classlessness | Economics reference cell ...

Economics : Of all the people in the city of New York who should be reluctant to charge someone else with elitism, the city's richest man has to be on the top of the list. But irony has never been one of the mayor's strong suits, so there he was?the other day?with a verbal assault on Bill Perkins for, of all things, having the temerity of being a vocal critic of charters, despite having gone to the "tony" Collegiate School for his own high school education.

Here's the NY Post's (natch) account: "The Post's Dave Seifman forward some pretty choice quotes from Mayor Bloomberg going off on state Sen. Bill Perkins, a major opponent of charter schools, on his weekly WOR radio show this morning. Bloomberg jabs at the pol for attending "elite private schools" and says he's been "violently" against choice for parents."

Now's not the right time to interject a tired pot and kettle analogy, but it does take a certain amount of chutzpah to attack Perkins when the mayor probably hadn't set foot inside a public school-his kids went elsewhere obviously-until he was elected mayor. And the same goes for Chancellor Klein who, along with Bloomberg, brought absolutely zero knowledge of public education to the job?when he was elevated to his supreme commander post. And this from a man who spends all of his weekends in Bermuda!

But what's even more egregious in our view is the mayor's failure to see with any clarity what?the charter phenomenon says about his own educational effort-a point that we have already made before. Here's the Post again: "Bill Perkins is a guy who went to elite private schools, and he represents a district where most people can?t afford elite private schools, and charter schools are their opportunity to get their kids a great education," said Bloomberg. "I think the numbers are something - there?s 10,000 places this year - more places for charter schools, and there?s something like 50 or 60,000 applicants for the 10,000 places."

Now, after eight years of so-called reform-along with reams of flack touting miraculous advance-we have stampedes in poor neighborhoods to flee the public school system as fast as possible. The Post's Seifman continues to spotlight the mayor's views in a follow up story: "Bloomberg argued that charter schools promote competition, which is one reason public schools in the city are improving. "Competition is great for everybody, and it's one of those things we want to encourage, and Perkins has been violently against it, while the educators and the public and the parents want more of [it]," the mayor said."

If the Harlem clamor for choice is any indication, this kind of a competition can best be described in sports language as a blowout-and as an indictment of the failure of the overall?Bloomberg effort. Diane Ravitch's hearing testimony sheds light on the true nature of this far from healthy competition: "Some charters are as idealistic as the original vision, but many others now see themselves as competition for public schools. They want to take over public school space and replace public schools. They revel in stories about beating public schools, not helping them."

But as far as Bloomberg's observation that the charter competition is in some way aiding public school improvement, where's the evidence of that? Which brings us back to the point that we made last week: "So there is obviously a perception of failure at the grass roots level. Whether this is a reality or not-and studies indicate that the charter exploits are exaggerated in the aggregate-doesn't matter. And the clamoring for, "choice," is an indictment of the current system that the media did so much to tout when it was all about mayoral control."

So what's missing from all of this trumped up outrage, is a concomitant genuine outrage at the three card monte game that the Bloombergistas have played-with Rupert and Morticia acting as the audience shills-with a gullible public. It is time to bring in the forensic accountants, and Perkins and his state senate crew should hold follow up hearings on testing fraud, unmerited teacher and administrator bonuses, and a profligate expansion of an educational bureaucracy that has failed to deliver real success even with an 80% increase in its allocation.

But that might not even be necessary if what they think is going to happen next spring actually does-new school tests that expose the naked emperor's false positives. As the NY Post reports: "Criticized for having steadily dumbed down standardized tests -- and trumpeted phantom gains -- the state Education Department says students in grades 3 to 8 taking required math and English exams starting tomorrow won't pass as easily this year. "Students are going to have to know more and do more to demonstrate proficiency on the exams," said John King, senior deputy state education commissioner."

And it will be more difficult to teach to the test: "A rising number of pupils have passed in recent years as cut scores dipped so low that some kids could randomly guess enough right answers to squeak by, experts found. State Board of Regents Chancellor Merryl Tisch and Education Commissioner David Steiner "are committed to ending the annual debate about whether our state tests have become harder or easier," King told The Post. "Doing that will require us to ensure that our tests become both less predictable and more comprehensive in terms of the number of items they test."

But, once the test fraud is exposed will it finally become clear that, as far as NYC's master of the house is concerned, "there's not much there?" Here's the Post's observation: "The sliding standards weren't revealed when Mayor Bloomberg touted dramatic spikes in state scores as a triumph of his stewardship. But the lid was blown off when federal officials found reading and math scores for New York students had remained flat on a national benchmark exam since 2007, while their scores on the state tests skyrocketed over the same period."

Education Secretary Arne Duncan, cited in Sol Stern's upcoming City Journal article, makes this telling point: ?We have to stop lying to children,? education secretary Arne Duncan said recently at a meeting of the National Governors Association (NGA).?We have to look them in the eye and tell them the truth at every stage of their educational trajectory.?

If Mike Bloomberg really wants to advance the interests of NYC school kids, he can begin by laying off the glass house?ad hominen attacks on Bill Perkins; and he can follow Duncan's advice by starting to?tell the truth-to those with an actual stake in public education-about how all of his extra funding and top down control of the educational bureaucracy has yielded a truly lackluster result. Don't expect this anytime soon, because mea culpas are conspicuously absent in the Bloomberg personality profile.

Source: http://economics-reference-cell.blogspot.com/2012/11/an-education-in-classlessness.html

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Source: http://velacevak.posterous.com/an-education-in-classlessness-economics-refer

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Source: http://kevincheatwood.typepad.com/blog/2012/11/an-education-in-classlessness-economics-reference-cell.html

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Tuesday, November 27, 2012

Rice to discuss Libya with McCain, lawmakers this week: aides

WASHINGTON (Reuters) - U.S. Ambassador to the United Nations Susan Rice will meet with lawmakers this week to discuss her controversial remarks about the September attacks in Benghazi, Libya, that have caused hurdles for her potential promotion to secretary of state.

The move, announced shortly after a top critic said he would be open to speaking to her, could fuel speculation that she is gunning for the nation's top diplomatic job.

Rice has been under fire from Republicans for appearing on TV talks shows shortly after the September 11 attack on the U.S. diplomatic mission in Benghazi and saying that preliminary information suggested the assault was the result of protests over an anti-Muslim film rather than a premeditated attack.

Senator John McCain, a vocal opponent of Rice's possible nomination as secretary of state, said on Sunday he would be happy to meet with her about the issue.

A Senate aide said that Rice would meet with McCain as well as Senators Lindsey Graham and Kelly Ayotte, fellow Republicans who have also criticized Rice.

An Obama administration official said Rice and acting CIA Director Michael Morell would meet with officials on Capitol Hill but declined to give details about timing.

"She and Mike Morell are meeting with folks on the Hill about Libya this week," the official said.

Rice said last week that her comments about the attack were based squarely on information provided to her by the intelligence community. The presence of Morell in the meetings is likely meant to give weight to that assertion.

The U.S. ambassador to Libya, Christopher Stevens, and three other Americans were killed in the attack.

Rice will meet another Republican Senator, Susan Collins, later in the week. A Senate aide said the meeting was arranged at Rice's request. Collins is the ranking Republican on the Senate Homeland Security Committee, which is one of several committees probing the events in Benghazi.

Rice is considered a top contender to replace Secretary of State Hillary Clinton, who is expected to step down at the end of President Barack Obama's first term.

Obama has not said who he wants to nominate for the post, but he bristled recently over Republican criticism of Rice, saying at a news conference that the senators should come after him rather than her. White House officials are fond of Rice and she is close to the president.

Massachusetts Senator John Kerry is also considered to be in the running to take over as the top U.S. diplomat.

(Editing by Eric Walsh)

Source: http://news.yahoo.com/rice-discuss-libya-mccain-lawmakers-week-aides-004202691.html

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Ohio's 'cleaning fairy' gets 1 year of probation

CLEVELAND (AP) ? An Ohio woman dubbed the "cleaning fairy" after she broke into a home, cleaned it and left a $75 bill has been put on probation for one year.

A judge sentenced 53-year-old Susan Warren of Elyria (eh-LEER'-ee-uh) on Monday in Cleveland on her guilty plea to attempted burglary. She also must do 20 hours of community service.

The woman told authorities she was driving by the Westlake house and "wanted something to do." She broke in, washed some coffee cups, took out the trash, vacuumed and dusted inside the house. Then she left a bill written on a napkin and included her phone number.

Warren says she owns a cleaning business and sometimes enters homes, cleans them and leaves a bill.

Source: http://news.yahoo.com/ohios-cleaning-fairy-gets-1-probation-195950484.html

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Mass. gas prices down another 2 cents

Country music titan Dolly Parton is anything but shy.In an exclusive interview with "Nightline," Parton dished about her love life (including those rumors that she is secretly gay), losing a drag queen lookalike contest and building a multimillion-dollar entertainment empire.Watch the full story on "Nightline" tonight at 11:35 p.m. ETIn her long reign as a country music legend, Parton, now 66, has done it all. In her new motivational memoir, "Dream More," which will be released on Nov. 27, Parton talks about growing up dirt poor in Sevierville, Tenn., in a cabin with 11 siblings. ...

Source: http://news.yahoo.com/mass-gas-prices-down-another-2-cents-165023227--finance.html

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Venture capital has shifted to funding business software - KPCC

Venture Capital in Southern California panel, moderated by the DeBord Report's Matt DeBord. These guys may be looking for different types of startups to invest in.

Fred Wilson, in typical clear and direct fashion, nails the shift as venture capitalists withhold additional rounds of funding from consumer-web companies and pivot toward the search for "enterprise" opportunities ? ways to invest in software for businesses, not for the masses. Here's Fred:

[I]nvestors have moved from consumer to enterprise. there is a large pool of money in the venture capital asset class that is opportunistic, momentum driven, and thesis agnostic. this pool is driven largely by the public markets. this pool of capital was "all in" on consumer web/social web in the 2009-2011 time frame. it drove a lot of activity throughout the venture capital markets because each layer of the VC stack...needs to be aware of what the next layer up wants to fund. when the momentum/late stage wanted web/social, the layers below gave them web/social. Now that the momentum/late stage wants enterprise, we should expect the layers below to give them enterprise.

The combination of these three factors is making it harder for consumer internet companies (web and mobile) to get funding.

When Fred says a "VC stack," by the way, he's talking about a sort of capital ladder, with smaller "seed" amounts assuming the most risk early on, and later, larger sums being raised in subsequent series, usually denoted A, B, C, and so on.

It's an important point, particularly if you're an entrepreneur who hopes to build a software product for people rather than companies (and before any of that, for the VCs that will provide the operating capital). I started blogging about this trend earlier in July, when Dell spent $2.5 billion to buy Orange County's Quest Software. Microsoft's $1.2-billion acquisition of Yammer, a 'Twitter for business," a few weeks later confirmed that there's real money in the enterprise "renaissance," as HootSuite CEO Ryan Holmes has called it.

Southern California is at least as well positioned as any other region to jump onto this bandwagon, although the sweet spot of "Silicon Beach" has more to do with advertising/media/entertainment than with building applications for businesses.?SoCal's smaller overall VC scale, relative to Silicon Valley, could fit nicely into Fred's framework: If later stage investors want enterprise, early stage investors can build those companies ? and they can build them in L.A.

Follow Matthew DeBord and the DeBord Report on Twitter. And ask Matt questions at Quora.

Source: http://www.scpr.org/blogs/economy/2012/11/26/11242/venture-capital-has-shifted-funding-business-softw/

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Monday, November 26, 2012

Police probe how Romney security data became New York City parade confetti

NEW YORK (Reuters) - Police are investigating how shredded documents revealing confidential information, including details about Republican presidential candidate Mitt Romney's motorcade, wound up as confetti on a Manhattan sidewalk during the annual Macy's Thanksgiving Day Parade.

Bits of shredded paper from the Nassau County Police Department could still be found on Monday afternoon in the cracks of the sidewalks along Central Park, according to Saul Finkelstein, the eyewitness who first alerted authorities to the problem.

Thousands of pieces of shredded paper were scattered along the parade route at 65th Street and Central Park West shortly after the parade began on Thursday morning, Finkelstein and his son, Ethan Finkelstein, 18, told Reuters.

Upon closer inspection, the confetti contained information from Nassau County police incident reports plus the names, social security numbers and bank account information of Nassau County police officers and employees.

Other scraps included information about Mitt Romney's motorcade to and from the October 16 presidential debate at Hofstra University in Nassau County, which borders New York City to the east on Long Island.

"It was everywhere," Saul Finkelstein said, estimating the scraps piled three inches off the ground. The Finkelsteins scooped up and took home several handfuls, a small percentage of what was on the ground, Ethan Finkelstein said.

The Nassau County Police Department on Monday reiterated its statement from Saturday that it was very concerned and would investigate how the documents got to Manhattan and review how it disposes of sensitive documents.

Authorities could not say how shredded paper from a Long Island police force ended up along the parade route. The confetti Macy's uses in the parade is multicolored and commercially manufactured confetti, not shredded bits of printer paper, a Macy's spokesman said in an email.

Parade spectators often bring homemade confetti to the parade. Both spectators in the crowd and participants in the parade were throwing the shredded Nassau County documents at each other, Saul Finkelstein said.

Two internal affairs officers from the Nassau County Police Department visited Finkelstein's home on Sunday to recover the shredded documents and take a statement, Saul Finkelstein said.

Revealing shreds of Nassau County police documents were still on the ground on Monday, Saul Finkelstein said.

(Reporting By Peter Rudegeair; Additional reporting by Chris Francescani; Editing by Daniel Trotta and Paul Simao)

Source: http://news.yahoo.com/police-probe-romney-security-data-became-york-city-234033660.html

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Hector Camacho's life was so chaotic it almost ... - Sport of Boxing

Certainly one of the highlights of his career was the night both Hector Camacho Sr. and his son Hector Camacho Jr. won their bouts during Mucho Macho Madness at the Level Club in Miami, Florida. Photo: Ezra Shaw/ALLSPORT

On Saturday, November 24, 2012, at the Central Medical Administration Building in Puerto Rico, the doctors attending Hector Camacho removed him from life support at his family?s request. The former boxing champion never regained consciousness after at least one gunman crept up to his friend?s car in a darkened parking lot and opened fire.

The local police go over the crime scene looking for any clues to establish who committed this horrendous act.

According to newspaper reports: The 50-year-old Camacho was shot Tuesday night as he and Adrian Mojica Moreno sat in Moreno?s Ford Mustang outside a bar. Moreno was killed instantly. Camacho held on for an additional four days. Police officers found nine small bags of cocaine in Moreno?s pocket and a 10th bag open inside the car.

Even with their fighting expertise, a boxer or mixed martial artist has no chance against a cowardly gunman. Perhaps in time, we?ll learn of the circumstances that led Camacho and Moreno to be in this position. From what we now know, no one had a gun to their heads telling them they had to go into that neighborhood. They chose their route and since there was no money taken, the merchandise (the cocaine) went untouched, this killing was not done by accident, not a random shooting or robbery, the victims must have had enemies that set out to kill them. When you?ve been using illegal drugs on and off for 20 plus years, it?s a miracle this travesty didn?t occur a lot sooner.

Throughout this discourse remember one thing, despite all the trouble in his personal life, Hector ?Macho? Camacho always gave his best in the ring. The following characterizations offered by his peers vary and at times are contradictory. It?s obvious, the man was many things to many people.

?I lived in Puerto Rico for 22 years and it?s sad to see that most all of the champions that came out of this country ended in drugs or indigent,? commented Andre Rheaume. ?Wilfredo Gomez, Esteban De Jesus, Edwin Rosario, Wilfredo Benitez and more. The only one who stayed clean is Tito Trinidad and that?s thanks to his father.?

Camacho was born in Bayamon, a city within the San Juan, Puerto Rico metropolitan area, but grew up in New York?s Spanish Harlem. After repeatedly getting into trouble, he ended in a detention center at the age of 15.

How did he get involved in boxing? Everyone in Puerto Rico has an interest. It?s their number one sport. Having produced more amateur and professional world champions than any other sport in its history, Puerto Rico ranks third worldwide between countries with most boxing world champions and is the only place to have champions accredited in all the current boxing divisions, a number which places it in the global lead in terms of champions per capita.?

?I think Camacho was a great athlete, and if he stayed on the straight and narrow, he could have been, pound-for-pound, one of the best fighters in the world,? said Freddie Roach, who lost a 10 round decision to Camacho in 1985.

While some feel he was one of the best boxers of all time, others have called him a bum who wasted his talent. His storied amateur career began with the Sub-Novice 112 pound title and continued on until he had won three New York State Golden Gloves titles.

Steve Tannenbaum, a friend and former boxing agent for Camacho, said he idolized Camacho as a boxer. ?He is one of the greatest small fighters that I have ever seen.?

Hector Camacho delivers another winning blow to the head of Roberto Duran during their Camacho versus Duran bout at the Trump Taj Mahal in Atlantic City, N.J. on July 22, 1996. Photo: Al Bello/Allsport

Referee Joe Cortez begins to count out Sugar Ray Leonard during a bout against Hector ?Macho? Camacho in Atlantic City, New Jersey on March 1, 1997. Camacho won the fight with a TKO in the fifth round. Photo: Al Bello /Allsport

Julio Cesar Chavez lands a straight right on Hector Camacho during a bout at the Hilton in Las Vegas, Nevada on September 12, 1992. Chavez won. Photo: Holly Stein /Allsport

Felix Trinidad throws a punch at Hector Camacho during a fight in Las Vegas, Nevada on January 29, 1994. Trinidad won in the 12th round. Photo: Al Bello/Allsport

As a professional Camacho (79-6-3, 38 KOs) won super lightweight, lightweight and junior welterweight world titles in the ?80s and fought high-profile bouts against such notables as Julio Cesar Chavez, Oscar de la Hoya, Roberto Duran, Greg Haugen, Sugar Ray Leonard, Ray ?Boom Boom? Mancini, Felix Trinidad, and Vinny Pazienza.

Thanks to Francisco Alvarado of the Banana Republican we can look back at Camacho?s out of the ring exploits chronologically during his prime:

February 2, 1988: Clewiston, Fla. police officers arrest Camacho for aggravated assault after a teenager accused him of pulling a gun on him. While waiting to get booked, an officer spotted him trying to hide a small plastic bag of cocaine in his underwear. He was then charged with coke possession.

March 15, 1989: Camacho lost control of his Lotus sports car while driving at excessive speeds on a Clewiston road and slamming into a palm tree.

October 13, 1991: Ft. Meyers police arrest Camacho for driving with a suspended driver?s license after pulling him over for driving too slow in his Ferrari while a woman sat on his lap.

November 5, 1992: Camacho ran out of the Miami International Airport Hilton?s lobby being chased by a pair of county police officers who saw him carrying a small bag of marijuana. He was later charged with possession, disorderly conduct and three counts of battery on a police officer.

October 1, 1996: Camacho and his then-18-year-old son Hector Jr., became the third father and son tandem in boxing history to fight and win on the same fight card.

August 11, 1998: Camacho won the IBC junior-middleweight title over Tony Menefee after entering the ring as a masked tiger in a hooded cape and fringed loincloth trunks.

January 20, 2001: Camacho was booked into an Indian River County Jail after being picked up on warrants for burglary and failure to pay child support. His ex-wife called the police after he made an unannounced visit to her Orlando home to see their children, violating a restraining order she had against him.

Jon Saraceno of USA TODAY Sports added some gems after interviewing John Russell who began training Camacho in the mid-?90s. Russell said Camacho loved to drive ?super-fast,? and had a terrifying habit of passing cars on the right, on the berm. He?d always pat me on the leg and say, ?Relax, relax,? then he?d fly around someone on the right.? They would be freaking out. Camacho once bragged about wrecking a Lotus, a Ferrari, a Lamborghini and a Corvette during his lifetime ? also a regular old Jeep, but who cares when you?re destroying exotics? In pure Macho logic he said, ?As long as I have a license, I?ll keep crashing cars. That?s how you become a great driver.?

My last run-in with Camacho was in January 1990 while working for Cox Communications. Both Camacho and Pazienza had come to our headquarters on Federal Boulevard in San Diego to promote their light welterweight title fight to be aired on Cox Pay-Per-View. At their press conference I made a suggestion to Pazienza that he should conserve his energy, stand in the center of the ring and not chase after the rabbit.?

Seconds later Camacho was up on the table shouting he wanted a piece of me. The well orchestrated feint had members of his entourage holding him back and everyone enjoying his antics. At the time, I was fearful I might lose my job.

After the Press Conference, Pazienza came over and gave me a glossy photo on which he wrote, ?Thanks for your input, if I need someone in my corner, I hope you?re available.?

Camacho won that close fight. What was more important, his pre-fight dramatics made certain there were a ton of people watching.

While the promoters reaped the benefits from Camacho?s craziness, being their high wire act, a barker, the peacock with a gimmick, some saw his schtick as smart-alecky behavior and thought he was a lippy, impudent street thug.

An example of Camacho?s display of disrespect occurred at a pre-fight press conference when the other boxer?s manager, Lou Duva, was speaking at the podium. Camacho got up, rudely interrupted, and tried to shove Duva so he couldn?t speak into the microphone. Lou told Hector, ?Don?t touch me kid, I?m a superstar.? Laughing, Camacho leaned forward and answered, ?Yeah, you?re a superstar, your Fred Flintstone!?

Randy Gordon, the former editor of The Ring Magazine and now with Bleacher Report once said, ?Camacho has become boxing?s Father of the Flashy Entrance.?

Camacho?s tireless hours spent training paid dividends, but that dedication to his craft never translated over to his home life. He became a father at the age of 16 and turned pro at 18. No doubt he had trouble understanding that love is a commitment, not just an emotion.

We forget all the good people who were there for him throughout his life. Yes, he was a legend in the ring but that legend didn?t have the staying power to go beyond the glory years. His unquenchable need for love and adulation became his ruination.

Others appreciated his Rambo like, gung-ho style; for them he was a champion on a mission. At the beginning of his career he was fearless; at the end he?d become a runner (se hab?a convertido en un conejo).

?Let?s remember him as a good man,? said Ismael Leandry, a longtime friend. ?He was a good father, a good son.?

That comment drew more than a few blasts from the readers who knew Camacho to be a wife beater and a snake in the grass.

After a while Camacho became paranoid, tightfisted, untrusting and had trouble sharing his bounty with his support staff. He started changing trainers the same way a woman changes her hairdresser, with much consternation.

?It was always going to end like this,? said Derrick Jedlicka, a boxing pundit. ?Once he ended his boxing career he should have moved on to training or managing, but he got into drug running or at least hanging with people who did. If this was anyone else, we would be saying RIP or happy to see one more drug runner off the street. As a boxer he will be missed, but he picked his life. Hope his son gets a lesson from this.?

In recent years, Camacho divided his time between Puerto Rico and Florida, appearing regularly on Spanish-language television as well as on a reality show called ?Es Macho Time!? on YouTube.

From the ladies came this opinion: he was an extremely handsome man, however, a self-indulgent rogue who never failed to like what he saw in the mirror. The international playboy lived in the beach community of Isla Verde in San Juan.

Throughout his life, Camacho battled with a wide assortment of problems. In 2007, he was sentenced to seven years in prison for the burglary of an appliance store in Mississippi. While arresting him on the burglary charge in January 2005, police also found the drug ecstasy. The judge in the case eventually suspended all but one year of his sentence. Then, after doing some time, he got out but wound up serving an additional two weeks for violating his probation.

As you will recall, his wife filed domestic abuse charges against him twice. That squabble happened before their divorce. Earlier this year, police in Florida charged him with child abuse for allegedly slamming his son to the floor and then stomping on him at his ex-wife?s home.

Puerto Rico?s sports and recreation department director Henry Neumann said a wake for Camacho would start on Tuesday at 11 a.m. local time, at the department?s Nilmarie Santini field in Santurce, Puerto Rico.

The wake will wrap up by early Wednesday, when Camacho?s remains are to be returned to New York where he will be buried, said Betsy Rivera, a coroners? spokeswoman.

2012 has become a ghastly year for Boxing?s final 10-Counts: Angelo Dundee, Bert Randolph Sugar, Carmen Basilio, Corrie Sanders, Don Fullmer, Emanuel Steward, Enrique Bolanos, Goody Petronelli, Johnny Tapia, Julio Cesar Gonzalez, Lundi Madondile, Michael Dokes, Te?filo Stevenson, Terry Spinks, Tony DeLuca and now Hector Camacho.

Of the 55 deaths in the world of Boxing thus far in 2012, 23 of the 52 died of a violent death; five ring deaths, one gent was stabbed, 8 shot, one suicide, another was hung, one died in a building fire, we think only one drug overdose, and 5 traffic accidents.?

Above are just some of the very colorful outfits that Hector ?Macho? Camacho wore on his ring entrance.

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Source: http://www.sportofboxing.com/hector-camachos-life-was-so-chaotic-it-almost-defies-description/

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Pets and other Critters: Cats Picking on Dogs

Cats and dogs can live together peacefully.? The thing is, they don't always live together peacefully.? There's plenty of things that can go wrong in the cat/dog relationship.? For now, let's talk about what to do when the cat picks on the dog.

Cats like to skulk and pounce and swipe.? This mighty?predator?kitty show is quite charming.? That is, until all this taunting and zooming has left the poor dog unable to move around in his own home without being ambushed.

Take action before it comes to this.

The cat jumps on the dog because it's fun.? One thing you might try is playing with your cat, then perhaps he'll get his fill of?fun, leaving him?no need to torment the dog.?

Some say squirting the cat with water deters bad behavior.? From what cat owners trying to keep kitty off the kitchen counter or out of the house plants tell me, the squirt bottle system doesn't work very well.? At best, the cat refrains from the designated bad behavior only when you are present.? This will help the long suffering dog only if you keep dog and cat separated when you are not watching.

You can anticipate when the cat is about to attack the dog.? The cat will arch his back, lower his head, and may get a determined gleefully hostile look in his eye.? Yelling NO at this point won't do much good.? (It works with dogs.? Do dogs have a conscience and cats don't?? Are dogs more inclined to be respectful of authority?? Is it that cats think they are the authority?? Thorny questions to be explored another time...)

You can do something before kitty leaps onto the dog.? Distract him.? Step in before the cat takes flight.? Engage and entertain this energetic feline.? Offer a toy on the end of a stick, for instance.? The cat can deploy his killer instinct by swiping at a stuffed fish rather than Rover's tender hide.? Help the cat release some of that vigor with other toys, a new scratching post, or invest in one of those cat rigs with the tunnels and planks to run on.? Even if you live in a small place, you can find room for a cat's amusement park by placing it up high.? Cat's don't generally fear heights!? Just be on the look out that kitty doesn't use his new improved higher perch to banzai the dog.? That would make you?sort of an enabler. Just to be on the safe side, consider arranging for ways that the dog can avoid the cat when you are not there to referee.

One other suggestion.? Maybe the cat needs his chin rubbed or a chance to sit with you on the couch.? Is the dog the only one getting petted?? Could be the cat just wants more attention from you.

Source: http://petsandothercritters.blogspot.com/2012/11/cats-picking-on-dogs.html

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Eminent Photo Launches Its New 'Photography For Kids & Teens ...

PRLog (Press Release) - Nov 24, 2012 -
Eminent Photo is a website that sells photograph prints of nature and landscape pictures. The site also offers a collection of articles for amateur photographers as well as a free photo gallery where images can be downloaded both for commercial and non-commercial purposes. Today, Eminent Photo launches its new kids section, which offers a variety of articles for children and teens interested in photography.

You can access the new section at: http://www.eminentphoto.com/kids/

?There aren?t that many free quality resources for kids available online,? said Alan Frost, the owner of Eminent Photo. ?We wanted to offer kids somewhere where they could learn all about photography, whether they are 8 years old and using a toy camera or 16 and trying to work with a DSLR.?

The kids? resource has articles in a wide range of categories, and more content is planned over the next few months. These include guides on how to use a camera, instructions for taking nicer photographs, advice on how to work with photos on the computer, tips for interesting and unusual photo locations, and an advanced section. There will also be a part dedicated to parents.

The articles in the kids? section present tips of varying complexity so as to be useful for kids and teens of all ages. There are also tips specifically aimed at compact camera and DSLR users. The articles also contain a large collection of relevant pictures.

?It is like having your very own photography book online,? says Alan Frost. ?Except that, unlike a book, you can access it from anywhere and it will continue to grow over time. We plan to add more content regularly, and particularly over the next couple of months.?

Source: http://www.prlog.org/12029891-eminent-photo-launches-its-new-photography-for-kids-teens-free-resource.html

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Sunday, November 25, 2012

CFA Society Emirates hosts CFA Institute Research Challenge | CFA ...

Over the next few months, twenty students will compete in five teams from five of the leading universities, and business schools including: American University in Dubai, College of the North Atlantic-Qatar, Institute of Management Technology, Dubai, Middlesex University Dubai and University of Wollongong in Dubai. The winning team will then go forward to compete at the regional EMEA (Europe Middle East Africa) final in London in April 2013.

The CFA Institute Research Challenge offers students the unique opportunity to develop and present an equity research report and compete on a global basis. Students will learn from leading industry experts and their mentors and peers from the world's top business schools. This annual educational initiative is designed to promote best practices in equity research among the next generation of analysts through hands-on mentoring and intensive training in company analysis and presentation skills.

Yacoub Nuseibeh, President of CFA Society Emirates said: "The UAE remains the leading investment and financial centre in the region. In order for us to maintain this position, we must continue to invest in our future. This competition is further evidence of the continued educational work CFA Institute and CFA Society Emirates are doing to help support the investment professionals of tomorrow."

Commenting on the event, Mr Mohit Malhotra, Education Chair-Dubai of CFA Emirates said: "The Research Challenge is a fantastic opportunity and a good platform to showcase the financial talent available within the UAE, to encourage young graduates to take up the unique and rewarding field of Investment Research as a career and to seriously consider the CFA program as the qualification of choice. I wish them all the best of luck and we look forward to have all universities in the UAE participating in the coming years."

The global competition, which runs until April 2013, is expected to attract 3,300 students and 750 universities in nearly 60 countries.

The CFA Institute Research Challenge comprises:
- Analysis of a publicly-traded company
Teams research a publicly traded company. The company's management presents information to the student teams and is available to answer student questions.
- Mentoring by a professional research analyst
Each team works with a CFA charterholder who mentors the team during the research process and reviews and critiques its report.
- Writing a research report
Each team produces an Initiation of Coverage report on its chosen company. The report is reviewed and scored by a group of judges.
- Presentation of research to a panel of experts
The teams' final presentations are locally evaluated by panels of experts from top financial institutions. Panelists include heads of research, portfolio managers, and chief investment officers from the world's top firms. The team with the highest combined written report and presentation score is the winner and advances to the regional level of the Research Challenge.
- Advancement to the CFA Institute Research Challenge Global Finale
Regional winners then progress to compete at the global finale. At the regional and global stages of the Research Challenge, teams are evaluated solely on their presentations.

Source: http://www.ameinfo.com/cfa-society-emirates-hosts-cfa-institute-320178

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UK debt management welcomes Barclays PPI announcement

The news this month (Nov 2012) that Barclays bank has set aside an extra ?700m to cover claims for mis-sold payment protection insurance (PPI) has been welcomed by a leading UK debt management company.

The new money is in addition to the ?1bn set aside in 2011 and the ?300m in the first three months of 2012. The extra money was required due to Barclays? having received ?more claims than it had expected.?

Mr Kevin Fielder, of UK debt management company UK Money Solutions said this week ?We welcome this announcement from Barclays Bank. It is a further recognition of the scale of the mis-selling that took place and we hope it will speed up the claims process for those who have been victims of this scandal.?

PPI was supposed to protect customers who lost their jobs or became ill while repaying loans, but was widely mis-sold to those who did not want or need it. The extra money takes Barclays' provisions for PPI mis-selling to ?2bn and takes the total amount set aside across the industry to more than ?10bn. It makes Barclays has made the second biggest provision, behind Lloyds Banking Group, which has set aside ?4.275bn.

Mr Fielder added ?The Financial Ombudsman Service, has already reported of a big increase in the number of complaints, with 1500 new cases arriving daily. The lack of response to these claims is fast becoming another scandal. The banks sometimes forget that some of those with the greatest amount of debt are in that position due to the amount of PPI added to previous loans and debt consolidation. Today, they are again at the mercy of the banks; they are awaiting speedy settlement of claims so they can start to move to a debt free future.?

Formed in 2005, debt management company UK Money Solutions have become a leading UK debt management company offering planning and debt consolidation services. They are recognised pioneers within the sector. A large amount of their work involves handling claims for mis-sold PPI on behalf of their clients.

Any person who wants to know more about the range of services offered by the UK Money Solutions can visit their website at www.ukmoney-solutions.com.

Source: http://www.briefingwire.com/pr/uk-debt-management-welcomes-barclays-ppi-announcement

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Electricity from the marshes

ScienceDaily (Nov. 23, 2012) ? An unexpected source of new, clean energy has been found: the Plant-Microbial Fuel Cell that can generate electricity from the natural interaction between living plant roots and soil bacteria. The technique already works on a small scale and will soon be applied in larger marshland areas throughout the world.

On 23 November, researcher Marjolein Helder will defend her PhD research on generating electricity via plants at Wageningen University, part of Wageningen UR. She has also founded a spin-off company called Plant-e with her colleague David Strik.

The Plant-Microbial Fuel Cell draws electricity from the soil while the plants continue to grow. Plants produce organic material via photosynthesis. The roots excrete up to 70 % of this material (unused) into the soil. Bacteria around the roots break down the organic residue, thereby forming a new source of electricity. The degradation processes causes electrons to be released. Marjolein Helder and her colleagues placed an electrode close to the bacteria to absorb these electrons and generate electricity via the potential difference thus created.

The Plant-Microbial Fuel Cell can currently generate 0.4 Watt per square metre of plant growth. This is more than is generated by fermenting biomass. In future, bio-electricity from plants could produce as much as 3.2 Watt per square metre of plant growth. This would mean that a roof measuring 100 m2 would generate enough electricity to supply a household (with an average consumption of 2,800 kWh/year). Plants of various species could be used, including grasses such as common cordgrass and, in warmer countries, rice.

Marshlands

Plant-Microbial Fuel Cells can be used on various scales. Initially on flat roofs or in remote areas in developing countries and later, when larger effective surface areas become feasible, central grids can be realised in areas of marshland. The researcher thinks that green energy-producing roofs will become a reality within a few years and production on a larger scale will follow suit soon after 2015. Although the technology is promising, it is not yet fully developed. Techniques for making the system renewable and sustainable still need improvement, and ways must be found to limit the amount of material used by the electrodes. Placing the electrodes in the optimum position around the plant causes electricity production to rise and material use to drop by two-thirds. In remote areas, the current capacity of Plant-Microbial Fuel Cell is already making them an economic rival for solar panels.

Marjolein Helder's PhD research did not only focus on the technical aspects of the Plant-Microbial Fuel Cell, but also on how the technology could be integrated into society. It appears that this new renewable source is economically viable, will curb the pressure on the environment and is likely to be socially acceptable. It does not pollute the horizon (like wind turbines or ugly solar panels), does not interfere with nature (like dams) and the system does not compete with agricultural land in the debate on food and biofuels.

The Plant-Microbial Fuel Cell principle was discovered and patented in 2007 by the Environmental Technology Group at Wageningen University. Bert Hamelers conceived the concept, and David Strik carried out the first tests. Larger projects followed, such as the EU PlantPower project.

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Source: http://feeds.sciencedaily.com/~r/sciencedaily/top_news/top_environment/~3/c5Orl_sI8uA/121123092129.htm

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Saturday, November 24, 2012

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APNewsBreak: Corps cuts flow on Missouri River

ST. LOUIS (AP) ? The Army Corps of Engineers on Friday began reducing the flow from a Missouri River reservoir, a move expected to worsen low-water conditions on the Mississippi River and potentially bring barge traffic to a halt within weeks.

The Missouri flows into the Mississippi around a bend just north of St. Louis. One result of this year's drought, the worst in decades, has been a big drop in water levels on both rivers.

The corps announced earlier this month that it would reduce the outflow from the Gavins Point Dam near Yankton, S.D., to protect the upper Missouri River basin. That drew an outcry from political leaders and businesses downstream, who warned that allowing the Mississippi to drop more could have devastating economic consequences.

Corps spokeswoman Monique Farmer told The Associated Press on Friday that the reduction began as scheduled that morning. By midday, the flow that had started at 37,500 cubic feet per second had been cut to 35,500 cubic feet per second.

Farmer said plans call for a gradual reduction down to 12,000 cubic feet per second by Dec. 11 because of the drought.

"We're hoping Mother Nature brings some snow this winter," she said, "but we've been told to expect low, stable conditions, that it's probably going to remain dry."

The cut in flow comes despite opposition from the governors of Missouri and Illinois and 77 members of Congress whose states sit along the Mississippi River. Scott Holste, a spokesman for Missouri Gov. Jay Nixon, said his office never received a reply to a letter Nixon sent Army Assistant Secretary Jo-Ellen Darcy, asking that the corps delay plans to reduce the Missouri River flow.

The Mississippi is nearing historic lows between St. Louis and Cairo, Ill. Barges are already required to carry lighter loads and the middle of the river could be closed to barge traffic if the water level at St. Louis dips below minus 5 feet. It was at minus 0.45 feet Friday.

A zero river reading at St. Louis was established more than a century ago. It's the point at which people at that time thought the river would never drop below.

The National Weather Service forecast for river levels extends only as far as Dec. 6. It calls for the Mississippi River to get to minus 3.7 feet at St. Louis by then. Businesses that ship on the river and their trade groups expect to get to minus 5 feet by around Dec. 10.

Barges carry 20 percent of the country's coal and more than 60 percent of its grain exports. Other cargo, including petroleum products, lumber, sand, industrial chemicals and fertilizer, also gets shipped along the Mississippi River.

Barge operators and those who ship on the Mississippi have warned that a shutdown would have disastrous economic consequences on those industries, with companies laying off workers if it lasts for any significant amount of time.

River shipping trade groups have even asked President Barack Obama to intervene.

"This is a pending economic emergency," said Ann McCulloch, director of public affairs for the American Waterways Operators.

A message left with the White House on Friday was not returned.

The weather forecast offers little hope with no big storms in sight.

While the drought has eased in the St. Louis area, it persists in the upper Mississippi and upper Missouri river basins, which feed water to the areas below, said Scott Truett, a meteorologist with the National Weather Service office in St. Louis.

"That means less runoff and hence low water levels," Truett said.

The corps has taken steps to keep the Mississippi open as long as possible, including increasing dredging. It also plans to remove two rock formations in the river in southern Illinois that jut up, potentially scraping the bottoms of barges when water levels are low.

But that work isn't expected until February, although 15 senators and 62 House members in separate letters asked for the rock removal to be expedited.

Corps officials in Omaha say the drought already has hurt recreation along the upper Missouri River areas. The low water has exposed Native American artifacts, leaving them prone to looting, and if it persists into spring, hydropower could be impacted.

Corps officials in Omaha say they are bound by the Missouri River Master Manual to act in the best interest of the Missouri River basin and what happens on the Mississippi is incidental.

Source: http://news.yahoo.com/apnewsbreak-corps-cuts-flow-missouri-river-170814085--finance.html

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Friday, November 23, 2012

UK politician wants new vote on women bishops soon

LONDON (AP) ? The Church of England should hold another vote on women bishops as soon as possible, its representative in the House of Commons said Thursday, while some members suggested stripping the church of its exemption from sex-discrimination laws.

Legislation to permit women to become bishops was blocked in the church's governing General Synod on Tuesday, a result that has drawn harsh criticism in Parliament.

"This is not an issue which can in any way be parked for the next couple of years or so awaiting another round of synod elections," said Tony Baldry, a member of Parliament who is official designated to speak for the church.

"There has to be an understanding that this is an issue that has to be resolved as soon as possible," he said in a Commons debate.

Church legislation to permit women to serve as bishops failed to win the necessary two-thirds majority among lay members of the General Synod. Church officials have said it could take five years to lay the ground for another vote, but Baldry said this should not be necessary.

"It is perfectly possible for a different and amended measure to be considered by General Synod," he said.

The church has been unable to find a formula which meets the objections of traditionalists who believe only men can be priests and bishops, without at the same time offending women by restricting their authority and status as bishops.

The Church of England is a product of government interference, established by King Henry VIII who appointed himself as head. The government still formally appoints the archbishop of Canterbury, the spiritual leader of the church, and 26 bishops are allocated seats in the House of Lords.

Source: http://news.yahoo.com/uk-politician-wants-vote-women-bishops-soon-120134334.html

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Daily Tips for Business: Industrial-Mechanical ... - dentte's posterous

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Source: http://belindast.typepad.com/blog/2012/11/daily-tips-for-business-industrial-mechanical.html

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Source: http://dentte.posterous.com/daily-tips-for-business-industrial-mechanical

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Previous bomb attacks in Tel Aviv

A bus bombing that wounded 27 people is the latest attack in Tel Aviv, Israel's largest metropolis and frequent target of militants:

? April 23, 2006: A Palestinian suicide bomber kills 11 people and injures 68 at a sandwich stand near the city's old central bus station.

? Feb. 25, 2005: A Palestinian suicide bomber blows himself up outside the "Stage" beachfront nightclub in Tel Aviv, killing five Israelis and injuring 50.

? April 30, 2003: A Palestinian suicide bomber attacks "Mike's Place" beachfront bar next to the U.S. Embassy, killing three and wounding 50.

? Jan. 5, 2003: A double suicide bombing near the old central bus station kills 23 people ? 15 Israelis and eight foreign nationals ? and injures more than 100.

? Sept. 19, 2002: A suicide bomber blows up a local bus outside the city's Great Synagogue, killing six people and injuring about 70.

? July 17, 2002: A double suicide bombing near the old central bus station kills five people and injures 40.

? June 1, 2001: A Hamas suicide bomber blows himself up outside the Dolphinarium discotheque on the Tel Aviv beachfront, killing 21 Israeli teenagers and wounding 132.

? March 21, 1997: A suicide bomber blows himself up inside the Cafe Apropo coffee shop in Tel Aviv, killing three Israeli women and wounding 48.

? March 4, 1996: A suicide bomber explodes outside a shopping, killing 13 Israelis and wounding 130 more.

? Oct. 19, 1994: A Hamas suicide bomber blows up aboard a bus on busy Dizengoff Street, killing 22 civilians and wounding more than 50.

Source: http://news.yahoo.com/previous-bomb-attacks-tel-aviv-153452046.html

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