PERFECT MARKET TIME

Best Barbecue Techniques

2011-09-05T14:28:00.000-07:00

1. Mopping

Mopping is a technique that involves slathering sauce onto the cooking meat with a large basting brush, which adds flavor, makes skin crisp, and, when layered over the rub, creates a nice bar—the flavorsome crust that develops during the cooking process. According to Amy Mills Tunnicliffe, co-author of Peace, Love & Barbecue (Rodale, 2005), "Mopping adds surface flavor, it's not penetrating. But when you pull pork butt, you're mixing the bark with the internal meat, which is fabulous."

2. Crisping Chicken Skin

We learned this method of removing fat from chicken skin in order to produce a remarkably crisp result from competition barbecue champion George "Tuffy" Stone. "Peel the skin carefully from the thigh or breast, and use a knife to scrape most of the fat off the underside until the skin becomes somewhat translucent," instructs Stone. "Then drape the skin back over the thigh or breast, and tuck it under the meat. When it cooks, the skin will become crisp."

3. Spraying With Apple Juice

Tunnicliffe sometimes sprays meat with apple juice every hour or so while it cooks, to keep the surface moist and to add additional flavor. "Meat sweats when it cooks; it opens up and absorbs whatever's on top of it," she says. "That's a good time to spray."

4. Beer-Can Chicken

This technique for making succulent chicken entails stuffing the cavity of an upright bird with an open, half-full can of beer. The liquid evaporates during cooking, basting the flesh from the inside out. According to Elizabeth Karmel, executive chef at Hill Country Barbecue in New York City, "It infuses the meat with beer, which gives it a great depth of flavor, and roasting the chicken vertically allows the fat to render out in a consistent way, which gives a uniformly crispy skin."

5. The Texas Crutch

This is the term for wrapping meat in foil for its final hours of cooking, which keeps the meat moist and prevents it from absorbing excess smoke (some people add apple juice and honey inside the wrapper for extra moisture and flavor). "Wrap the meat when it has a nice color, and throw it back onto the pit," says Stone. "You can even finish cooking it in your oven."

6. The Rub

A rub is essentially a dry marinade: a blend of spices, salt, and sugar that's dusted onto meat, imparting surface flavor and an appealing crust, if cooked properly. Rubs work well with lean cuts that benefit from added flavor. "Once the meat starts to cook, the moisture blends with the rub and starts to marinate your meat immediately," says Tunnicliffe. "That rub, plus your wood, really determines the flavor of what you're cooking."

7. Adam Perry Lang's Microplane

Adam Perry Lang, the owner of Daisy May's BBQ USA in New York City, uses a Microplane grater to add a hint of fresh flavor as a finishing touch on his meats. "I grate items like garlic, onion, and green apple into a sauce or dressing that goes on the meat when it's ready to serve," says Lang. "Say I have a pork shoulder. I create a mountain of these flavors on top, and as I pull the meat, this stuff gets incorporated into it."

8. Brining/Injecting/Marinating

There are a few strategies for keeping meats, especially lean ones like chicken and pork tenderloin, moist when barbecuing. Marinating involves soaking meat in something acidic (fruit juice, citrus, buttermilk). The acid breaks down the muscle tissue of the meat and thus allows some moisture (and flavor) to penetrate. Brining—immersing meat in a salty solution—goes one step further: The salt actually alters the structure of the proteins in the meat so that they trap moisture inside. Or you can deliver moisture directly to the interior of the meat by injecting—plunging in a syringe filled with brine or other flavorful liquid. "You inject cuts—like a whole hog or a pork shoulder—that are too large to submerge," says Steven Raichlen, author of The Barbecue Bible(Workman Publishing, 1998).

Car service secrets revealed, unveiled

2011-09-05T14:20:00.000-07:00

If you've ever felt you got a raw deal taking your car in for service at the dealer, our anonymous service manager says that may well be true. But he also cites a number of reasons to take your car to the dealer for work anyway — and tells how not to get the short end of the stick when you do. He should know. He's spent 23 years as a manager for brands as varied as Nissan, Ford and Mitsubishi, and has also served as a warranty administrator and customer relations manager for multiple dealerships.

Q: What's a good reason to take your car to the dealer for routine maintenance, rather than to the guy with two bays and a private shop?

A: Let's use Ford as an example. If you own a Ford vehicle, the Ford dealership will have Ford-trained technicians who work on Ford vehicles 95 to 100 percent of the time. During that time they will use Ford resources and Ford training to repair your vehicle correctly, and (ideally) they take Ford classes and attend Ford schools to keep up on their knowledge. With the other guy, it's a tossup — he may work on two Fords one week and not see another for a month. Also, on regular maintenance it can sometimes be cheaper, not more expensive. To get an oil change and tire rotation where I live, the Ford dealer is $38.95 plus tax, and Sears wants $75.

Q: So it's not necessarily more expensive, and they know more about your car. Any other reason?A: Often times at Jiffy Lube or wherever they're paid by the hour, and they're not necessarily trained to know your vehicle. And that can cost you your engine. If I could get half of what I've charged customers to replace engines that were screwed up by Jiffy Lube and Walmart, for such things as not enough oil, too much oil, the wrong weight of oil, wrong filter, loose filter or any combination of the above, I could have retired a long time ago. There's no point to spending $30,000 to $40,000 on a new vehicle and then trying to go cheap on the maintenance.Q: What's an example of a common tactic by dealers to pad the bill?A: So-called shop supplies. That is, and always has been, the biggest crock of crap I've ever seen, and it's been going on for years! It is essentially similar to going to a nice restaurant, getting your check and finding you've been billed for napkins and silverware, which are necessary costs of the food service business. Shop supplies include, but are not limited to, shop rags, lubricants — this isn't the motor oil, transmission fluid, brake fluid and steering fluid they might put in your car — and the cost of disposing of used oil. These are just some of the necessary costs of doing the auto repair business. Some dealers do not charge for them, but most do, and what is considered shop supplies is at the discretion of each individual dealer. I've seen a customer get billed for $30 in shop supplies—on top of their estimate — for the use of three shop rags! For that price, I can buy 20 rolls of shop towels at Auto Zone.Q: If you got a bill that had shop supplies on it, what would you do?A: Ask to see exactly what that means. Ask to see the precise items they actually used. Challenge them on it. You might not get them to knock it off your bill, but you should try.Q: You also said that dealer service departments too often recommend fluid flushes and replacements that aren't called for by the owner's manual. The dealers cite the "severe use" schedule that doesn't apply to the vast majority of us. Should drivers simply veto a service or fluid replacement that isn't recommended — in the owner's manual — under the normal or light-duty service requirements?A: Yes, you should go by what the owner's manual recommends for normal use. And, yes, this is a common practice, and I hate to admit that. When I was a customer relations manager, I had a service manager who would [bait people into buying the fluid changes] by showing new fluid versus used fluid. She made more than I did just in flush commissions, but had the worst customer satisfaction surveys. I have always stuck to the manufacturer recommendations, and my Escape has over 310,000 miles on it. Less than five percent of drivers operate their cars under conditions that would be deemed "severe." The ones who do are usually taxi or pizza-delivery drivers, or those who frequently take their SUV or truck off-road. Q: What's the single best piece of advice you'd offer to a friend about servicing his car at the dealer?A: A dealer won't come right out and say it, but if you have your regular service work done at the dealer... (because warranty work pays the dealer a lot less than service work), your value to the dealership increases. Here's an example: Suppose your vehicle goes out of warranty and a week later you have a catastrophic failure. If you have shown loyalty to the dealership by using them for regular service work, they will be more inclined to help you — as opposed to the person who buys a car there and takes it somewhere else for regular service, and only brings it in for warranty work. Q: So it's about building a relationship with the dealer?A: Yes. You need to know that dealers make very little on car sales. And warranty service doesn't pay as much as regular maintenance. But if they see that record that you've been loyal to them, they'll likely be loyal to you. Q: What's a sign that a dealership doesn't value that relationship?A: Constant turnover at the service desk. You should get the name of the person at the desk. You should ask for him or her. If that person's different every time, it's not a good sign. Good auto service work starts with a relationship between the advisor and the customer, and that cannot be obtained when the customer sees a new advisor every time he comes in. I always knew the person's car, I pulled up its history, and that's something people appreciate. But if that person is new or is always changing, they don't know you or your car — stuff gets missed, and that's typically not good for you or your car. Q: How come a dealer might charge you 30 percent more for a part than you can find it for at AutoZone?A: It's one of the hang-ups I've always had about domestic automakers. You can often buy their parts cheaper at the auto parts store than you can at the dealership parts counter. And the dealer knows this, but he can't do anything about it. The problem is that even though that's true, the dealer doesn't want to install a part that he didn't source, because if it fails, how does he warranty it? Q: So what do you do as the customer?A: There's not a lot you can do. They can install the part if you went out and bought it, but most won't. Q: Speaking of AutoZone, you can take your car there to have them read what a Check Engine light means. How accurate will that reading be?A: Check Engine lights are big moneymakers for dealers and also the bane of a service manager's existence. Anyone can use a code reader. But what does the code mean? For every code there need to be additional diagnostics. I've had customers come in and tell me to swap some part, because they're sure it's the problem. But all that is is a really expensive guess. They might be right 10 to 20 percent of the time, close 20 percent of the time, and dead wrong 60 percent of the time. I had a customer go through six oxygen sensors when all it was was a shorted wire. Q: What's the smartest thing you can buy from the dealer?A: A brand-name extended service contract. So if you're buying a Ford, get a Ford contract. If it's a Toyota, buy the Toyota contract. The opposite is also true. Never buy the extended service contract that's generically offered through the dealer but isn't backed by the brand of car they sell.Q: How come?A: Because the people who fulfill the generic contracts are paid by how little service they have to do. So they fight the dealer on every penny. They'll want to see the entire labor record on the car. They won't want to pay for parts. They'll fight on the cost of the labor. In the end, the customer is going to have to eat some of that cost, even though the contract supposedly covers the car. Q: What's the worst day of the week to get your car serviced?A: Friday afternoon after lunch, because the service department is trying to push out as many vehicles as possible. Maybe a car has been there since Monday waiting on parts. Maybe there are a few cars like that. Then people pour in around lunchtime wanting oil changes. And there are the cars there already with appointments, and everyone's in a rush to get it all done. Make an appointment for a Monday morning as early as possible. It's a lot more orderly, and they'll do a better job.

Fire goes out of Aga son's marriage

2011-09-05T14:14:00.000-07:00

When a beautiful blonde college graduate was swept off her feet by a handsome prince, their subsequent wedding was described as ‘fairytale’.

Held at the 14th-century French chateau which was used as a backdrop for the James Bond film A View To A Kill, the lavish ceremony made a five-page spread in Hello! with photographs supplied by the groom’s father, billionaire racehorse owner the Aga Khan.

But just five years later and the magic has sadly evaporated from the marriage of the Aga’s second son, Prince Hussain, 38, and his bride, Kristin, the 36-year-old daughter of a university professor from New York.

Although she changed her religion to marry Hussain, adopting the Islamic name Khaliya, I understand the couple have parted and there is talk of divorce.

Their separation is the latest in a string of marital breakdowns that have blighted the family of the leader of the world’s 12 million Ismaili Muslims. The Aga Khan has been married twice — his first wife and Hussain’s mother is the former English model Sally Croker-Poole.

As I disclosed, he has been separated from his second wife Princess Gabriele for almost eight years, but they are not divorced. The German-born beauty is based in Switzerland. The Aga’s daughter, Princess Zahra, 41, wed Dorset farmer’s son and former male model Mark Boyden, but that union ended in 2005 after seven years and two children.

Perhaps fortunately, Prince Hussain and his wife do not have children.

They met when both were studying at New York’s Columbia University, from where they graduated with masters degrees. The Princess’s father Professor Norman White is an IT specialist, and his wife, Dr Margaret White, is a psychologist.

After living with Hussain in France, Kristin now rents an apartment. She has also been seen alone at a number of social events in Europe this summer.

It is thought she will return to America to live. But her father tells me: ‘Whether she does or not is up to her. I am not making any comment.’ A spokesman for the Aga declined to comment.

Disclaimer

2011-09-05T13:57:00.001-07:00

QUESTO BLOG NON RAPPRESENTA UNA TESTATA GIORNALISTICA IN QUANTO VIENE AGGIORNATO SENZA NESSUNA PERIODICITÀ. NON PUÒ PERTANTO CONSIDERARSI UN PRODOTTO EDITORIALE AI SENSI DELLA LEGGE N. 62 DEL 7.03.2001.L'AUTORE, INOLTRE, NON HA ALCUNA RESPONSABILITÀ PER QUANTO RIGUARDA I SITI AI QUALI È POSSIBILE ACCEDERE TRAMITE I COLLEGAMENTI POSTI ALL'INTERNO DEL SITO STESSO, FORNITI COME SEMPLICE SERVIZIO AGLI UTENTI DELLA RETE. LO STESSO PER I SITI CHE FORNISCONO DEI LINK ALLE RISORSE QUI CONTENUTE. IL FATTO CHE QUESTO BLOG FORNISCA QUESTI COLLEGAMENTI NON IMPLICA UNA TACITA APPROVAZIONE DEI CONTENUTI DEI SITI STESSI, SULLA CUI QUALITÀ, AFFIDABILITÀ E GRAFICA È DECLINATA OGNI RESPONSABILITÀ. L'AUTORE DICHIARA DI NON ESSERE RESPONSABILE PER I COMMENTI INSERITI NEI POST. EVENTUALI COMMENTI DEI LETTORI, LESIVI DELL'IMMAGINE O DELL'ONORABILITÀ DI PERSONE TERZE, NON SONO DA ATTRIBUIRSI ALL'AUTORE, NEMMENO SE IL COMMENTO VIENE ESPRESSO IN FORMA ANONIMA O CRIPTATA. L'AUTORE DEL BLOG SI RISERVA IL DIRITTO DI RIMUOVERE SENZA PREAVVISO E A SUO INSINDACABILE GIUDIZIO COMMENTI CHE RISULTINO OFFENSIVI, VOLGARI, BLASFEMI, INUTILI, ALTAMENTE PROVOCATORI O CHE ABBIANO CONTENUTI DI NATURA PUBBLICITARIA. INOLTRE, L'AUTORE NON È IN ALCUN MODO RESPONSABILE DEL CONTENUTO DEI COMMENTI INSERITI DAGLI UTENTI DEL BLOG: QUESTI ULTIMI, PERTANTO, SE NE ASSUMONO LA TOTALE RESPONSABILITÀ. ALCUNI TESTI O IMMAGINI INSERITE IN QUESTO BLOG SONO TRATTE DA INTERNET E, PERTANTO, CONSIDERATE DI PUBBLICO DOMINIO; QUALORA LA LORO PUBBLICAZIONE VIOLASSE EVENTUALI DIRITTI D'AUTORE, VOGLIATE COMUNICARLO VIA E-MAIL. SARANNO IMMEDIATAMENTE RIMOSSE." PRECISAZIONE: I COMMENTI GIUDICATI OFFENSIVI O DIFFAMATORI NON VERRANNO PUBBLICATI

SPLENDIDA VILLA IN AFFITTO A RAGALNA

2011-05-23T01:10:00.000-07:00

Villa Ragalna, di recente costruzione, è disponibile per affitti mensili. Sei camere, cinque bagni (di cui due con cabina sauna e idromassaggio), due saloni, due camini, Foto, descrizione e commenti direttamente sul sito web dedicato. Per appuntamenti cliccare qui.

LISTINO VACCHE AGRIGEST SRL

2011-05-16T14:16:00.000-07:00

Il listino vacche della Agrigest srl, aggiornato settimanalmente, è online alla pagina http://www.agrigest.blogspot.com/ .

INTERVISTA DI MARIA LATELLA A GIORGIO BOCCA

2011-05-15T15:14:00.000-07:00

“Il sud non cambia mai, mi sono stancato di aspettare che cambi”. Giorgio Bocca è stato l’ospite domenica 15 maggio dell’approfondimento di SkyTG24 condotto da Maria Latella. E ha parlato anche della polemica innescata poche ore prima dal ministro dell’Economia: “Capisco Tremonti, ha fatto un’osservazione politicamente pericolosa ma che io condivido. Se dopo 50 anni non c’è uno dei soli difetti del sud che sia cambiato si vede che ci sono delle ragioni, che non capisco. E io mi sono rassegnato al fatto che lì le cose non funzionano. Perché l’immondizia a Napoli resta nelle strade e a Milano no? La Camorra avrà anche trovato una disponibilità nella pubblica opinione. Certo, ora si indignano, ma è la prima volta che li vedo protestare".

Il giornalista di Repubblica e L'Espresso ha parlato ovviamente anche delle elezioni del 15 e 16 maggio: "Una campagna elettorale simile a tutte le altre precedenti, è stata una campagna elettorale molto personalizzata sul Berlusconi. Ce lo teniamo a vita o riusciamo a mandarlo a casa: questo è stato il tema della campagna elettorale".

http://tg24.sky.it/tg24/politica/2011/05/15/maria_latella_intervista_giorgio_bocca.html

IMF head arrested in New York

2011-05-14T16:47:00.000-07:00

NEW YORK (Reuters) - The head of the International Monetary Fund, Dominique Strauss-Kahn, was arrested in New York on Saturday and accused of a sexual attack on a hotel maid, The New York Times reported.

The newspaper, citing a Port Authority spokesman, said Strauss-Kahn, also a possible Socialist candidate in next April's French presidential election, was arrested minutes before he was to due to fly to Paris from John F. Kennedy International Airport in New York.

The Times quoted authorities as saying Strauss-Kahn was accused of a "sex attack" on a maid at a Times Square hotel earlier in the day.

http://www.reuters.com/article/2011/05/14/us-strausskahn-arrest-idUSTRE74D29F20110514

THE HOLIDAY - THE PERFECT MOVIE

2010-12-12T14:36:00.000-08:00

A great movie, exploring women universe by different points of view: the american and the european.

DISDETTA RECESSO VODAFONE STATION

2010-10-20T03:03:00.000-07:00

COME RECEDERE DALLA VODAFONE STATION PRIMA DI PASSARE, OVVIAMENTE, AD ALTRI OPERATORI

E' necessaria una piccola introduzione per sommi capi, al fine di capire come risolvere il problema:

1) La vodafone station si guasta.

2) Nei negozi vodafone, se la vuoi far sostituire, non si trova (chiaro che si tratta di una manfrina).

3) Se chiedi di fartela recapitare in sostituzione di quella vecchia, aspetta e spera.

4) Il servizio clienti ti rimbalza di qua e di la (è pagato per questo).

5) Le vodafone station rotte sono talmente tante che la vodafone, che non le ha in magazzino, temporeggia a nostro danno.

6) Cercano di tenerti buono con regalini tipo piccole ricariche o sconti fattura, invece di dirti: "caro cliente, visto il danno che le abbiamo causato il credito del suo cellulare lo paghiamo noi fino alla riparazione del guasto".

7) La magica trovata della vodafone, con la station, è stata quella di tirarsi fuori dalla manutenzione dei cavi telecom italia, visto che la voce viaggia tramite adsl. Se però la linea fisica adsl dovesse avere dei problemi, apriti cielo!!: misteriosamente, assisterete ad una processione di tecnici che faranno finta di non risolvere il problema. Se foste con telecom, lo risolverebbero in 5 minuti, chissà perchè...a voi scoprirlo!!.

8) Visto che noi abbiamo passato mesi a lessarci l'orecchio al telefono col 190, questi sono i numeri da chiamare per mostrare la vostra incazzatura: 01255200, 0125425665, 01256230, 0241431, 0245676911, 0248302072, 0229017477. Il più importante è quello della direzione, segnato in grassetto. Esigete una risposta, oppure chiedete di parlare con il presidente o con l'amministratore delegato, visto che i camerieri del call center non risolvono. Eppoi, giustamente, se aveste un problema con qualcuno preferireste parlare con la persona interessata o col maggiordomo?.

9) Le raccomandate vanno indirizzate a tutti i seguenti destinatari (spendete, spendete..):

VODAFONE - C.P.190 - 10015 - IVREA

VODAFONE - C.P.109 - 14100 - ASTI

PRESIDENTE CDA VODAFONE - VIA JERVIS 13 - 10015 - IVREA

ADICONSUM - VIA F.GENTILE 135 - 00173 - ROMA

ADUC - VIA CAVOUR 68 - 50129 - FIRENZE

UN.NAZ.CONSUMATORI - VIA DUILIO 13 - 00192 - ROMA

ADUSBEF - VIA C.FARINI 62 - 00185 - ROMA

FEDERCONSUMATORI - VIA PALESTRO 11 - 00185 - ROMA

ECCO COSA SCRIVERE NELLA DISDETTA:

OGGETTO: RECESSO SENZA PENALI IMMEDIATO VODAFONE STATION LINEA TELEFONICA (VOSTRO NUMERO TELEFONICO).

IL MIO NOME E' (VOSTRO NOME) E RICHIEDO L'IMMEDIATA RISOLUZIONE DEL CONTRATTO IN OGGETTO, A CAUSA DEI VOSTRI REITERATI DISSERVIZI CHE HANNO CAUSATO UN DANNO PECUNIARIO QUANTIFICABILE IN (METTERE CIFRA) EURO.

(METTERE NUMERO GIORNI O MESI) GIORNI DI MANCATO FUNZIONAMENTO DELLA STATION SONO VERAMENTE TROPPI.

LE VOSTRE CONTINUE MANCANZE , LE BUGIE DEL VOSTRO SERVIZIO CLIENTI, LA MANCATA SOSTITUZIONE DELLA STATION HANNO FATTO SPENDERE A ME, AI MIEI FAMILIARI, AI MIEI DIPENDENTI, TANTI SOLDI IN TELEFONATE VIA CELLULARE E CHIAVETTE INTERNET. IL LATO TRAGICOMICO DELLA FACCENDA E' CHE ABBIAMO UTILIZZATO CELLULARI UN TEMPO VODAFONE (OGGI WIND), GARANTENDOVI UN SICURO GUADAGNO IN SEGUITO AD UN VOSTRO DISSERVIZIO. ALTRA COSA VERGOGNOSA E' CHE PER TENERMI BUONO MI AVETE GENEROSAMENTE OFFERTO DI NON PAGARE IL CANONE PER UNA STATION ROTTA: CHE GENEROSITA'!!!.

UN TEMPO LA VODAFONE ERA UNA BUONA AZIENDA (LO DICO CON RIMPIANTO, PERCHE' ERO SODDISFATTO DEGLI OTTIMI SERVIZI E DEL SERVIZIO CLIENTI SEMPRE DISPONIBILE), PECCATO CHE ORA, A CAUSA DELLA SITUAZIONE DI ESTREMO DEGRADO IN CUI VERSANO I VOSTRI SERVIZI, MI DEBBA AGGIUNGERE ALLA MASSA IN FUGA DEI VOSTRI CLIENTI VERSO WIND E “TRE”.

VI DIFFIDO DI ADDEBITARE ALCUN COSTO PER IL RECESSO DI QUESTO CONTRATTO.

VI AVVISO CHE, IN DIFETTO, TUTELERO' I MIEI INTERESSI IN SEDE LEGALE.

(VOSTRO NOME)

(VOSTRA VIA)

(VOSTRO CAP E CITTA')

Ciao a tutti!!

Pro e contro Vodafone Station

2010-10-09T08:43:00.000-07:00

Nessun pro, solo contro. Liberatevene mandando la disdetta (senza penalità, causa disservizio) tramite raccomandata alla Vodafone NV di Ivrea: il 190 è obbligato a fornirvi l'indirizzo. La vodafone cercherà comunque di corteggiarvi nei seguenti modi, già visti su altri blog: azzeramento di canone e costi (bella gentilezza, visto che la vodafone station è rotta...) e col bonus 80 sul cellulare, ovvero 80 euro di credito. Ma che ce ne facciamo del credito omaggio se comunque spendiamo in internet e telefonate causa station guasta?: ecco, vi siete risposti da soli!!!. Ora noi a casa (siamo in 9) siamo migrati su wind per i cellulari (3 ripeto 3 centesimi al minuto) e chiavetta fastweb per internet. Addio Vodafone, basta con le truffe!!!

Settembre 2010 - disastrosa Windjet - Ma l' ENAC esiste ancora?

2010-10-09T07:16:00.000-07:00

Ennesima figuraccia per la compagnia aerea siciliana windjet, con un aereo fermo giorni sulla pista di Palermo Punta Raisi. Il guasto avvenuto all'apparecchio, appartenente alla ridicola compagnia wind jet, ha causato necessari dirottamenti per lo più sull'aeroporto di Catania Fontanarossa, causando indescrivibile caos per giorni, costringendo intere famiglie a recarsi in auto a Catania per portare o riprendere i parenti o i colleghi. Noi ci chiediamo: ma chi è ancora così imbecille da comprare un biglietto windjet?. E, cosa ancor più grave, come fanno i grandi distributori di voli come volagratis e edreams e tui a mantenere nei propri database windjet, una compagnia che più che volare colleziona (non abbastanza) multe dall'enac?. A quando un presidente dell'Enac ( attualmente un tale di nome Riggio) NON SICILIANO? (a buon intenditor poche parole...).

St. Kitts and Nevis essentials

2010-08-16T12:56:00.000-07:00

ST.KITTS: 69 square miles - population 31,800 - capital Basseterre

NEVIS: 36 square miles - population 10,000 - capital Charlestown

Topography

St.Kitts is a relatively mountainous island starring Mount Liamuiga which towers majestically to 3,792 ft. Lush tropical rainforest, golden to dark sand beaches, rolling cane fields and a plethora of historic landmarks are other points of note.

Nevis is a volcanic island with its peak rising to 3232 ft. Its lush green slopes and rainforest meet the sandy beaches and clear Caribbean Sea. The island is resplendent with all types of tropical vegetation and flowers and has natural hot spring baths.

Weather

Temperatures range from 75 to 81 Fahrenheit year round. During the summer months, from June to October, it's hotter and more prone to tropical downpours. Winter is from November to May - a balmy period of cool Trade Winds, pleasant nights, and dry days.

Language

The official language of St.Kitts and Nevis is English.

Currency

EC dollar, change is given in EC.

Getting Around

There are several rental companies on the islands and driving is on the left. Don't forget to purchase your local driving licence available at the police station. Taxis and buses are readily available.

Ferries

Leave from Basseterre and return from the town dock in Nevis regularly. The car ferry is a 20 minute crossing between Cades Bay in Nevis and Major's Bay in St.Kitts. There are six crossings each way daily.

Airlines, Car Rentals, Hotels and Villas: click here.

Antigua and Barbuda - St.John's

2010-08-02T16:35:00.000-07:00

The best way to absorb the distinctive sights and sounds of the lively capital, St.John's, is on foot. In this way you will discover its network of streets, its pedestrian areas and its historic and commercial districts. Shop duty free in Heritage Quay's luxury stores and boutiques and further south find the historic area of Redcliffe Quay which was formerlythe site of the town's slave market. Today it is a peaceful and shady oasis overlooking the sea and the ideal place to rest from the heat and activity of St.John's. To the north is Long Street and here you will find the Court House which contains the museum of Antigua and Barbuda. The museum exhibits archaeological remains of the Siboney people who lived on the islands around 4000 years ago and were the antecedents of the Arawak and Carib Indians. A stroll along Church Street brings you to the Cathedral which was originally built in wood in 1681, then in brick in 1720 and finally in grey stone in 1843. The interior is American pine to resist earthquakes and hurricanes. If you like to savour the local culture, don't miss the market. The best time to visit is friday and saturday morning when it is at its most vibrant and well stocked with fruit and local produce. Next to the fruit market is the Arts and Crafts market also worth a visit. The market is of course at the end of Market street to the far south of the city.

Antigua and Barbuda Lesser Antilles

2010-08-01T15:02:00.000-07:00

Among the many islands that make up the Lesser Antilles, Antigua and Barbuda distinguishes herself for her deeply indented coastline, her natural harbours and protective coral reefs, her rolling hills and her relaxed yet sophisticated atmosphere. The island nation of Antigua and Barbuda is made up of the two main islands and uninhabited Redonda, a rocky outcrop 20 miles southwest of Antigua. Antigua's 280 sq km of hills and flatlands is edged with 365 white sandy beaches, one for every day of the year. Barbuda's 60 km perimeter is an almost continuous beach. The perfect beaches are complemented by striking vegetation, exotic fruits and a warm and friendly people.

Antigua e Barbuda - Jolly Harbour

2010-07-16T12:25:00.000-07:00

Jolly Harbour ad Antigua e Barbuda è un ottimo punto per la sosta carburante, si trova in fondo al porto a sinistra. Nella foto il cerchio rosso è attorno alla pompa. Il benzinaio qui è famoso per i soliti vizietti, controllate quindi dapprima che il contatore sia azzerato, poi il totale prima che la pistola venga riagganciata. Se pagate con carta di credito c'è un sovrapprezzo di circa il 3%. Dietro le palazzine degli uffici c'è un supermercato un pò scomodo da raggiungere ma ottimamente rifornito, si chiama Epicurean ed è cerchiato in giallo. Potete buttare l'ancora nei buoni fondali fuori del porto, per poi raggiungere col tender il baretto del marina vicino al benzinaio. Jolly Harbour secondo me è da prendere in considerazione per fare cambusa prima di continuare per Montserrat, St.Kitts e Nevis, Barbuda. Da evitare la capitale di Antigua: si chiama St.John's ed è il classico approdo per crocieristi in calzino corto, sandali e macchina fotografica al collo.

Vedi anche, sempre ad Antigua: Deep Bay, Green Island, Bird Island.

Per qualsiasi informazione potete contattarmi su crazyforislands@gmail.com .

Biglietti aerei per Antigua e Caraibi clicca qui.

Antigua e Barbuda - Deep Bay

2010-07-16T12:08:00.000-07:00

Un ottimo ancoraggio per i velisti ad Antigua e Barbuda, al riparo dai soliti venti dominanti, è sicuramente Deep Bay. Il fondo è sabbioso e ottimo tenitore. Prestare la massima attenzione al relitto all'imbocco della baia, più o meno in posizione N17.07.627 W61.53.395 : la prua e la poppa semiaffioranti hanno orientamento W-E. Occhio. Per il resto il fondale è ottimo, troverete altre barche che vengono a passare la notte in rada.

Vedi anche Bird Island , Green Island, Jolly Harbour (benzinaio e cambusa).

Per altre informazioni sul posto potete contattarmi su crazyforislands@gmail.com .

Biglietti aerei per Antigua e Barbuda clicca qui.

Antigua e Barbuda - Green Island

2010-07-16T11:49:00.000-07:00

Assieme a Bird Island, Green Island è sicuramente uno deggli spot più belli di Antigua e Barbuda e di tutti i Caraibi. Vi allego una foto con il punto di ingresso alla grande baia. L'accesso si trova fra Green Islan e la costa di Antigua. Fondale ottimo tenitore. In caso di mare mosso da E o NE, quasi sempre le onde vengono smorzate dal reef, ma il vento può comunque essere molto forte. Infattiè uno degli spot preferiti dai locali per windsurf e kite. per altre info potete contattarmi con crazyforislands@gmail.com .

Vedi anche Deep Bay, Jolly Harbour (gasolio e cambusa).

Biglietti aerei per Antigua e Barbuda clicca qui.

Antigua e Barbuda - Bird Island

2010-07-16T11:35:00.000-07:00

Con Green Island, Bird Island è sicuramente un vero spot caraibico lontano da folla e "yachtoni".Nella foto è segnalato il percorso di avvicinamento alla spiaggia di Bird Island. Attenzione al reef onnipresente, non fidatevi dello scandaglio e non cercate di seguire le barche locali. L'ideale è mandare in avanscoperta un amico col tender. Le barche a vela e a motore di una certa grandezza vanno comunque lasciate fuori dal reef. Per qualsiasi informazione potete contattarmi su crazyforislands@gmail.com.

Vedi anche Deep Bay e Jolly Harbour (per gasolio e cambusa).

Biglietti aerei per Antigua e Caraibi clicca qui.

Come lavorare con lo smartphone

2010-06-09T01:34:00.000-07:00

Utilizzare un notebook o un netbook non è l'unico modo con cui si può portare il proprio ufficio con sé; l'alternativa più praticata è quella di usare uno smartphone, vale a dire un telefonino "intelligente".

Gli smartphone dispongono di un sistema operativo simile a quello di un PC, sul quale si possono installare a piacimento programmi di vario genere. Dal punto di vista hardware sono caratterizzati da un processore piuttosto potente, da uno schermo di generose dimensioni sensibile al tocco e a volte da una tastiera fisica. I principali sistemi operativi utilizzati dagli smartphone sono:

Android: si possono sfruttare le potenzialità della galassia Google utili in ambito aziendale, come lo spazio di storage online, le mappe con geolocalizzazione, Google Calendar, ecc.

Windows Mobile: è utilizzato da diversi produttori e la compatibilità con dati e applicazioni Windows desktop lo rende perfetto per sincronizzare contatti, attività e progetti

Blackberry: noto per la gestione della posta elettronica in modalità "push", è disponibile solo su hardware proprietario. Studiato per dare soluzioni di produttività completa

Symbian OS: utilizzato principalmente da Nokia, è stato uno dei primi a offrire una ricca serie di applicazioni per la produttività come mail, calendario, agenda e lista delle attività

iPhone: vanta un'interfaccia utente proprietaria molto funzionale e una miriade di applicazioni. Le funzionalità di posta e navigazione web sono tra i suoi punti di forza

Quando sono in giro con il cellulare posso scaricare musica da Internet?

Dipende dal cellulare, ma in linea di massima sì. Gli smartphone e i cellulari di ultima generazione non solo riproducono diversi formati di file musicali (MP3, WMA...), ma possono arricchire la propria collezione scaricando legalmente nuovi brani da Internet. Gli esempi più rilevanti in merito sono iTunes Music Store per l'iPhone e Ovi Music Store per i terminali Nokia. Con gli smartphone è anche possibile ascoltare la programmazione di migliaia di web radio, previo scaricamento dell'applicazione relativa.

Non è troppo piccolo il display del telefono per navigare?

Lo sarebbe se le pagine web non venissero adeguatamente formattate per la riproduzione su dispositivi portatili. I principali quotidiani, i siti istituzionali più rappresentativi e molti store online dispongono di una versione del proprio sito concepita appositamente per la navigazione tramite cellulari e smartphone: i testi e le immagini sono quindi perfettamente intelligibili nonostante le dimensioni ridotte del display (che comunque può arrivare fino a 4 pollici di diagonale). Se invece il sito non ha una versione "mobile" delle proprie pagine, sta al dispositivo portatile permetterne la leggibilità mediante l'uso dello zoom sulle porzioni che interessano all'utente.

Posso "collegare" i miei account di social network diversi?

È possibile stabilire una sincronia fra diversi social network, in modo che "postando" un nuovo aggiornamento di stato o un nuovo commento su un "social", lo stesso intervento venga duplicato e ripetuto anche su altri. Linkando i propri profili, ad esempio, Facebook può sincronizzarsi con Twitter; la stessa cosa vale anche per YouTube e MySpace, che sanno esportare ogni operazione anche su Twitter. In alternativa esistono alcune tecnologie preinstallate sugli smartphone, come per esempio MotoBlur di Motorola, che si occupano di "postare" lo stesso elemento contemporaneamente su tutti gli account "social" collegati.

Cos'è Facebook Open Graph?

Open Graph è un'implementazione di Facebook che rimpiazza il progetto Connect e che permette di estendere alcune caratteristiche del sito (in maniera potenziale) anche al resto dei siti Internet. In particolare il celebre tasto "like", tradotto in italiano con "mi piace" e tipico della casella dei commenti di Facebook, viene esportato anche al resto dei siti Internet che lo desiderano, consentendo così ai navigatori di esprimere il proprio consenso anche al di fuori dei confini del sito di Facebook. Basta quindi "alzare il pollice" per un determinato contenuto web per condividere la nostra preferenza con tutti i nostri amici. Tutti i nostri gusti espressi vengono elaborati da Facebook e restituiti ai vari siti web affinché possano ritagliarci, ad esempio, un'Home Page "su misura".

Posso trasformare in touchscreen un dispostivo che non lo è?

In alcuni casi sì. Esistono dei kit che permettono di aggiungere la funzionalità touchscreen a un qualsiasi monitor per computer, speciali pellicole o sovra schermi che si applicano sopra il monitor, che generalmente si interfacciano verso un computer tramite uscita USB e uno specifico software. In linea di principio in alcuni notebook è possibile anche sostituire direttamente lo schermo, un'operazione che però è molto delicata e che corre il rischio di compromettere la funzionalità del dispositivo. In ogni caso i costi non sono trascurabili, tali da rendere poco conveniente l'operazione. Non ci risulta che sia possibile trasformare in touchscreen smartphone e dispositivi portatili in genere.

Il touchscreen funziona anche anche "in pieno sole"?

Sì, purché siano rispettate le condizioni climatiche di utilizzo dei dispostivi (temperatura minima e massima di funzionamento) specificate dal costruttore del dispostivo. I raggi solari non limitano il funzionamento del sistema touchscreen ma piuttosto, come ogni display, anche gli schermi touchscreen possono risultare meno visibili quando sottoposti a condizioni estreme di illuminazione, nel caso specifico quando sono direttamente colpiti dai raggi del sole. È questa una limitazione generale che colpisce tutti i display, a cui i costruttori stanno cercando di rispondere utilizzando tecnologie sempre più avanzate; i risultati ottenuti sembrano essere incoraggianti.

Che differenze ci sono tra OLED e LCD?

Si tratta di due diverse tecnologie per realizzare il display. L'LCD, ampiamente usato per realizzare schermi dalle dimensioni più varie (da pochi a centinaia di pollici), quando usato nella sua variante attiva con tecnologia TFT, consente di realizzare pannelli luminosi, dettagliati e con ottimi tempi di risposta. L'OLED, e la sua variante attiva AMOLED, sono la nuova frontiera per i display di piccole dimensioni. Hanno infatti un consumo fino al 40% inferiore rispetto all'LCD in quanto non necessitano di retroilluminazione, colori più brillanti e nero più profondo, ampio angolo di visione, tempo di risposta bassissimo, spessore inferiore. Al momento i costi di produzione sono ancora superiori rispetto all'LCD, ma stanno scendendo rapidamente.

Cosa significa touchscreen capacitivo e resistivo?

Sono due diversi modi di realizzare gli schermi sensibili al tocco montati sui cellulari. La tecnologia resistiva, la prima ad essere usata, basa il suo funzionamento sulla resistenza elettrica generata premendo lo schermo, che a sua volta crea un contatto tra i due strati trasparenti conduttori di elettricità posti sopra di esso. Il telefono non fa altro che individuare le coordinate del punto toccato e le comunica al sistema operativo. La tecnologia capacitiva è la più recente e funziona generando un flusso di elettroni attraverso la superficie del display che, quando viene sfiorato da un oggetto capacitivo come un dito, interpreta mediante sensori posizionati in ciascun angolo del display la variazione del flusso di elettroni e la converte in coordinate. Gli schermi resistivi sono più economici, possono essere usati con pennini, dita, guanti e non supportano il multi-touch; quelli capacitivi si vedono meglio all'aperto, supportano il multi-touch, possono essere usati solo con le dita (niente oggetti inanimati o guanti).

Cosa sono i dischi SSD?

SSD (Solid State Disk), o disco a stato solido, consiste in un'unità di memorizzazione composta da chip di memoria. Essendo composti da vari banchi di memoria e da un controller, e quindi privi di parti mobili, i dischi SSD sono normalmente più resistenti agli urti e consumano meno energia rispetto a un comune Hard Disk.

Cosa si intende per "trackpad"?

Per trackpad si intende il dispositivo che consente di controllare il cursore di puntamento del sistema operativo nei notebook o netbook senza ricorrere al mouse esterno. Consiste in un'area rettangolare posta al di sotto della tastiera dove si può far scorrere il polpastrello. In alcuni modelli più recenti il trackpad è sensibile al tocco di più di un dito (multi-touch) per impartire comandi complessi.

Netbook – Funzioni di base e ingombro minimo

2010-06-09T01:29:00.000-07:00

Chi sceglie il netbook punta soprattutto sulla leggerezza e sulla compattezza dei dispositivi di elaborazione dati, anche a scapito della pura potenza di calcolo.

Sanno già di non poter eseguire compiti gravosi come fotoritocco o elaborazione video, ma i comuni impegni da ufficio vengono svolti egregiamente anche da questi sistemi a bassa potenza e altrettanto basso consumo. Ed ecco che sono allora sufficienti le piattaforme Intel Atom o Nvidia ION per realizzare netbook a basso costo e prestazioni più che valide. Un gigabyte di RAM basta a far funzionare il sistema operativo che può essere Windows XP oppure il più leggero Linux, in versioni personalizzate dalle case produttrici o nella sua derivazione Android, l'OS sviluppato appositamente per dispositivi mobili. Sui netbook più nuovi gira anche un'apposita versione alleggerita di Windows 7 con ottimi risultati. Il disco rigido a volte viene rimpiazzato con un'unità a stato solido (SSD), meno capiente ma più veloce e robusta degli Hard Disk tradizionali. Ecco le principali caratteristiche che possono vantare i netbook di oggi.

Estrema mobilità: il peso ridotto all'osso, normalmente inferiore al chilo e mezzo, aiuta chi si sposta spesso, così come le dimensioni, tali da permettere di inserire l'apparecchio in qualsiasi borsa, borsetta o bagaglio a mano.

Basso consumo – durata della batteria: con autonomie che vanno dalle quattro ore in su, i netbook sono un compagno di lavoro che non tradisce per tutta la giornata. A volte le batterie possono essere sostituite "a caldo" (cioè, senza spegnere il PC) con pacchi aggiuntivi di batterie cariche, per offrire un'autonomia virtualmente illimitata.

Possibilità di utilizzarlo in spazi angusti: le ridotte dimensioni e il peso piuma consentono a chi utilizza il netbook di mettersi al computer praticamente ovunque: in autobus o sul tram, nei locali pubblici durante la pausa pranzo, durante affollate conferenze stampa, al mare o in montagna.

Ideale per i software di produttività da ufficio: che sia Microsoft Office oppure il client di posta elettronica, o ancora la navigazione web, i netbook svolgono questi compiti con facilità senza far rimpiangere i PC dell'ufficio o anche i portatili più potenti. Inoltre l'esperienza di lavoro in mobilità risulta più soddisfacente grazie alle ridotte dimensioni e peso.

Tastiera standard rispetto agli smartphone: anche dispositivi evoluti come gli smartphone possono gestire compiti da ufficio, però peccano di comodità quando occorre digitare sulla tastiera che è minuscola o "virtuale". Con quella di un netbook è più semplice scrivere testi e messaggi di posta, riempire le caselle di un foglio elettronico, navigare su Internet e portare a termine lavori che richiedono la comodità di una tastiera come si deve.

Per rendere ancora più efficiente il nostro "ufficio mobile" sono molto utili alcuni prodotti che possono dare quel qualcosa in più.

Dispositivi esterni di memorizzazione: l'utilizzo di unità di memorizzazione supplementari è importante, soprattutto nel caso di quei netbook che dispongono di uno SSD (disco a stato solido) quale unità di memorizzazione principale, perché questi ultimi sono ancora poco capienti. Ecco quindi venire in aiuto le chiavette USB, con tagli fino a 32GB di memoria e oltre, oppure le memory card in formato SD o vari altri formati disponibili, per poi finire ai veri e propri dischi rigidi portatili, disponibili anche in formato compatto (con disco da 2,5") in tagli fino a 500 GB.

Mouse portatili: tutti i computer portatili, netbook o notebook, sono dotati di un dispositivo di puntamento integrato. Ma per sedute di lavoro più lunghe il classico mouse è sempre preferibile. Se da un lato è possibile collegare alla porta USB del notebook un mouse desktop standard, diverse sono le opzioni specifiche di mouse portatili. Ne esistono di diversi tipi, a puntamento ottico o laser, a filo (alcuni sono dotati di cavetto retraibile) oppure wireless. In quest'ultimo caso il sistema di trasmissione può essere Bluetooth o a radiofrequenza.

Borse porta-computer e zaini "tecnici": l'utilizzo di una borsa o di uno zaino predisposto per il trasporto delle apparecchiature informatiche è più importante di quanto si pensi. Innanzitutto perché le borse "tecniche" dispongono di scomparti imbottiti per assicurare massima protezione; in alcuni casi adottano anche protezioni rigide antischiacciamento o sistemi di ammortizzazione contro le cadute accidentali.

Internet Key: le cosiddette "chiavette Internet" sono una soluzione ideale e poco ingombrante per tutti coloro che necessitano di collegarsi a Internet a larga banda anche quando sono fuori ufficio. È sufficiente inserire la SIM dati all'interno della Internet Key, installare il software per la connessione e collegare la chiavetta a una porta USB libera del portatile. Un'alternativa all'uso della Internet Key è l'utilizzo del proprio cellulare come modem UMTS/HSDPA, collegato al notebook via cavo USB o senza fili via Bluetooth.

Batteria di riserva: i grandi viaggiatori e coloro che stanno per lunghi periodi lontano dalle prese elettriche non ne possono fare a meno: la batteria o le batterie di riserva sono l'accessorio più importante per il proprio notebook o netbook. Una batteria di riserva consente di raddoppiare il tempo utile di lavoro, e anche di più se si sceglie un modello a capacità maggiorata.

Stampante e scanner portatile: quello delle stampanti portatili è un mercato di nicchia, ma per alcuni professionisti un tale accessorio è indispensabile e quindi il mercato ha risposto proponendo alcuni modelli che vantano un profilo particolarmente sottile e un sistema di alimentazione della carta. Anche gli scanner portatili non sono molto diffusi, ma ve ne sono alcuni composti semplicemente da una barra ottica che va passata manualmente sui documenti e fornisce un'efficace scansione, soprattutto per quanto riguarda l'acquisizione di testi.

Fotocamera e videocamera: per un vero "ufficio mobile" che si rispetti non possono mancare nella borsa, insieme al portatile, una videocamera e/o una fotocamera compatte, sempre pronte per riprendere scatti o video che possono integrare il lavoro che si sta portando avanti in movimento.

Cuffia e microfono: ultimamente i sistemi di videoconferenza, di chat e di chiamate vocali via web si sono molto diffusi anche in ambito lavorativo, e con un netbook o notebook collegato a Internet è possibile essere connessi al mondo in pochi secondi utilizzando software come Skype o Messenger. Un accessorio indispensabile in questo contesto è una cuffia con microfono, con i due classici minijack da inserire negli ingressi-uscite audio del PC.

Notebook – Un PC desktop condensato

2010-06-09T01:25:00.000-07:00

Per chi non vuole rinunciare a nulla della propria esperienza di lavoro in ufficio anche quando è in movimento, la scelta migliore si orienta sui classici notebook, che ormai vantano prestazioni eccellenti condensate in un formato compatto e leggero. I migliori notebook hanno un peso intorno ai due kg e dimensioni che dipendono dal formato dello schermo, tipicamente da 13" o 14". Spesso lo schermo fa uso di tecnologia di retroilluminazione a LED, che migliora la qualità di visione e riduce il consumo elettrico. Ecco le principali caratteristiche di un notebook.

Potenza senza compromessi: i processori dei notebook vantano prestazioni quasi identiche ai loro omologhi da scrivania ma implementano funzioni per migliorare il consumo di energia; inoltre sono progettati per produrre meno calore, in modo da semplificare il sistema di raffreddamento. Anche il chipset è un derivato di quelli dei desktop con lo stesso tipo di ottimizzazioni.

Grafica 3D anche in viaggio: mentre alcuni modelli di notebook utilizzano il processore grafico integrato nel chipset, altre soluzioni prevedono l'uso di una scheda grafica separata, con memoria dedicata, per offrire ottime prestazioni 3D anche in mobilità, utili per esempio per il CAD. Ovviamente non saranno paragonabili a quelle delle schede grafiche dei sistemi desktop, tuttavia i processori grafici per uso "mobile" derivano dalle schede grafiche di fascia "top".

Tanto spazio per i propri file: utilizzando i comuni dischi rigidi da 2,5", la capacità di archiviazione non è un problema per questi PC portatili. Lo spazio di archiviazione può giungere a 500 GB, più che sufficiente per lavorare fuori casa senza sentire la necessità di Hard Disk esterni.

Espandibilità a prova di futuro: i notebook più moderni vantano una serie di interfacce molto nutrita che conferisce loro la possibilità di espandere le proprie prestazioni. La dotazione standard è di almeno tre USB 2.0, presa LAN a 100 Mbps, presa telefonica RJ11 (per connessioni d'emergenza dove non c'è linea ADSL). Per quanto riguarda il video, alla tradizionale uscita VGA è affiancata, quasi sempre, la presa HDMI, per collegarsi ai più moderni monitor o ai televisori digitali ad alta definizione. Spesso è presente uno slot per schede di memoria di vari formati (da SD a Memory Stick) e non dimentichiamo la connettività wireless, con Wi-Fi e Bluetooth integrati.

Lavorare "on the road"

2010-06-09T01:21:00.000-07:00

Oggi il concetto di lavoro si sta distaccando progressivamente da quello di "ufficio" con cui si identificava, per andare verso un futuro di "produttività diffusa".

Questo cambio di paradigma è reso possibile dall'affermazione delle nuove tecnologie per la produttività mobile, che consentono anche a chi è in movimento di non rinunciare a (quasi) niente rispetto alla tradizionale postazione da ufficio. I moderni notebook, per esempio, non hanno più nulla da invidiare ai tradizionali desktop, sia in termini di pura potenza del processore e di scheda grafica, sia per quanto riguarda la capienza dei dischi rigidi. Per chi invece non ha necessità di tanta potenza ma desidera puntare di più sul lavoro "on the road", la nuova categoria dei netbook, piccoli, leggeri, economici e con un'elevata autonomia, è la soluzione ideale. Con gli accessori giusti netbook e notebook si trasformano in perfetti uffici mobili, con poche o nulle limitazioni rispetto alla tradizionale postazione alla scrivania. Si aprono così nuove possibilità e diverse modalità di lavoro: per esempio stare una settimana all'estero per curare gli affari in loco senza perdere neppure un passaggio del flusso di lavoro aziendale in sede; oppure si può optare per il weekend "super lungo" con la famiglia, ma sempre avendo sott'occhio la situazione al lavoro anche il venerdì e il lunedì. Se poi non è necessario il portatile e i suoi accessori perché il carico di lavoro è più leggero, allora si può risolvere ancora più facilmente grazie a uno smartphone superaccessoriato.

skype on iphone

2010-06-04T04:16:00.001-07:00

The latest version of Skype for the iPhone will at last let you make Skype calls over AT&T's 3G network — meaning free voice calls for everyone, right? Not so fast, say Skype execs. Charges for free-for-now Skype-to-Skype calls are coming, and don't forget that AT&T is ditching its unlimited data plans.

Version 2.0 of the Skype iPhone app came out Sunday, supporting the long-awaited ability to place Skype calls over AT&T's 3G data network. Under pressure from federal regulators, AT&T had actually given the green light to Skype calls last year, but the Skype app itself only worked over Wi-Fi until just now.

What's so special about Skype calls over 3G? Theoretically, it means you can bypass AT&T's voice network altogether — even when you're out of Wi-Fi range — letting you place unlimited voice calls with fellow Skype users for the low price of nothing. You can also call landlines and non-Skype users worldwide (about 30 countries are included) for about 2 cents a minute. (I use the for-pay Skype service over Wi-Fi all the time because of the terrible AT&T reception in my Brooklyn apartment.)

In practical terms, the iPhone Skype app has some limitations, though. It still doesn't support the iPhone's "push notification" feature, which pops up an alert for an app that isn't currently running — like, say, an incoming Skype call. That's the bad news. The good news is that Skype will be able to warn you of incoming calls once the new multitasking iPhone 4.0 software arrives this summer (possibly even next week).

But Skype's killer feature — free Skype-to-Skype calling — is going away sooner rather than later, at least as far as the iPhone and AT&T's 3G network is concerned. Skype has announced that it will offer free Skype-to-Skype 3G calls only "until the end of 2010," after which it will start charging a "small monthly fee." How small? No word yet. (Skype-to-Skype calls over Wi-Fi will still be free.)

Not only is the free ride ending for 3G Skype-to-Skype calls, there's also the little wrinkle of AT&T's bombshell announcement that it's phasing out its unlimited 3G data plans, starting June 7. New customers will pay $25 a month for 2GB of data, or $15 a month for 200MB, plus any overage charges ($10 for an extra GB in the case of the 2GB plan, or $15 for another 200MB for the 200MB option). If you currently have an unlimited, $30-a-month 3G plan through AT&T, you'll be grandfathered in.

So AT&T subscribers who end up with new capped data plans will find that 3G Skype calls eat into their monthly data allowances, and overage fees will loom if you're an inveterate Chatty Cathy.

Theoretically, anyway. What's the reality? How much data does a typical 3G Skype call consume?

The Skype support site covers this issue in a relatively roundabout way, estimating that if you have 20 Skype contacts, log on for 90 minutes a day, engage in 25 daily minutes of Skype text chat, and make 20 minutes of Skype calls (whether that's 20 minutes a day or a month isn't clear; I'm inclined to think it's the latter), you'll burn through "just under 1MB" of data a month.

That sounded a little low to me, so I conducted my own experiment. I reset my iPhone's data usage statistics, fired up Skype and called Moviefone for 10 minutes, occasionally tapping a number key to keep the call going. (No, I didn't do a lot of chatting on the call; I'm not much of a talker anyway, but the Moviefone guy was nattering away the entire time.)

When 10 minutes were up, I hung up and checked my 3G usage statistics: 388KB upstream, 1.8MB downstream, for a total of about 2.2MB.

So using those numbers, if I were to call Moviefone for 450 minutes a month (that's my monthly allotment of AT&T voice minutes, only a fraction of which I ever use), I'd use up close to 100MB, or half of the data allowed under AT&T's $15/month 200MB plan.

How big a problem that is depends, of course, on your monthly calling habits. If you're like me and you make maybe 30 minutes of Skype calls a month, no big deal. But if you're planning to hold lengthy daily conference calls over 3G via Skype, well ... Skype might not be much of a bargain anymore.

What do you think? Do Skype's plans for iPhone fees, combined with AT&T's new capped data plans, drain most of the appeal out of the free-for-now calling service? Or will you keep using Skype despite the upcoming fees and data caps?

Nuclear: Iran and EU talks

2010-05-12T01:52:00.000-07:00

Iran is willing to hold talks with the European Union's foreign policy chief over its disputed nuclear activities, a senior official said on Tuesday, after the bloc's top diplomat spoke of new sanctions against Tehran.

EU foreign policy chief Catherine Ashton said on Monday extra sanctions could be adopted quickly, but that the EU was open to more talks with Iran if it showed it really wanted them.

Foreign Ministry spokesman Ramin Mehmanparast said Iran was ready for talks with Ashton, adding that "a time and venue for such a meeting had not been set yet."

"(Iran's top nuclear negotiator Saeed) Jalili and Ashton could meet in Turkey," Mehmanparast told a weekly news conference. "We do not see a problem with that."

Ashton told reporters in London that she had had a meeting on Monday with Ahmet Davutoglu, the foreign minister of Turkey, which has sought to mediate in the dispute over Iran's nuclear program.

"The message I've sent back is that I am perfectly prepared to meet and talk with Jalili," she said.

Iran's nuclear weapons capability should be the only issue on the agenda for talks, she said. Ashton would represent the six world powers dealing with Iran over its nuclear program.

"The location can be determined. I'm not worried about that. Wherever it seems most appropriate. If Turkey wishes to host ... that's fine," Ashton said.

However, she understood messages had been sent back by Iran saying "we're not sure what she wants to talk about."

MID-JUNE TARGET

Western diplomats have said mid-June is a target deadline for getting a fourth round of U.N. sanctions on Iran because of its nuclear program, which it says is to generate electricity and not build bombs as the West fears.

Iran has welcomed Turkish and Brazilian mediation efforts to resolve the nuclear dispute, aimed at reviving a stalled fuel deal with major powers.

The deal is seen as a way to remove much of Iran's low-enriched uranium (LEU) stockpile to minimize the risk of this being used for atomic bombs, providing Iran with specially processed fuel to keep its research reactor running.

The deal broke down over Iran's insistence on doing the swap only on its territory, rather than shipping its LEU abroad in advance, and in smaller, phased amounts, meaning no significant cut in a stockpile which grows day by day.

Turkey and Brazil, both non-permanent members of the U.N. Security Council, are opposed to further sanctions against Iran.

But Mehmanparast said Iran had no intention to change its view over the venue for a fuel swap.

"We are ready to resolve the (nuclear) issue through talks ... New formulas have been raised about the exchange of fuel in our talks with Turkey and Brazil," Mehmanparast said.

"The new formula does not cover the venue of fuel exchange. We have always said the swap should take place inside Iran."

Turkish Prime Minister Tayyip Erdogan and Brazilian President Luiz Inacio Lula da Silva will travel to Iran on May 16, Mehmanparast said.

"They will discuss the nuclear issue and the nuclear fuel deal with Iranian authorities."

UK's New Prime Minister David Cameron

2010-05-12T01:43:00.000-07:00

Britain's first coalition government since 1945 will set out its main policy goals on Wednesday with a core task being to tackle the country's record budget deficit.

New Prime Minister David Cameron's Conservatives and the smaller Liberal Democrats struck a coalition agreement early on Wednesday in a deal between two usually ideologically opposed parties that critics say will lead to future instability.

"This is going to be hard and difficult work. A coalition will throw up all sorts of challenges. But I believe together we can provide that strong and stable government that our country needs," Cameron said in his first speech as prime minister.

The agreement, reached five days after an inconclusive election, ended 13 years of rule by the center-left Labour Party under Tony Blair and his successor Gordon Brown.

The partnership will have to tackle a record budget deficit running at more than 11 percent of GDP. The coalition is expected to implement Conservative plans to cut six billion pounds of spending this financial year, earlier than the Liberal Democrats, or Lib Dems, had campaigned for.

"What it (the joint agreement) does ... I think is properly balance the need to take some fairly aggressive action to control the budget deficit ... but also to make sure that economic recovery is protected," said Lib Dem politician David Laws, one of the key negotiators during the coalition talks.

The Liberal Democrats were celebrating after decades spent in the shadow of Labour and the Conservatives.

"There will of course be problems, there will of course be glitches. But I will always do my best to prove new politics isn't just possible, it is also better," Liberal Democrat leader Nick Clegg, who will be deputy prime minister, told reporters.

Markets welcomed the agreement, hopeful that a government led by the center-right Conservatives will take swift action to cut the country's debts.

Though critics suggest the coalition will be unstable, others pointed to successful coalition deals elsewhere.

"At the local level these sort of arrangements ... have been going on for some time and seem to work very well. I don't see why it wouldn't work on a larger scale," said Sir Moir Lockhead, Chief Executive of British transport operator FirstGroup.

PROBLEMS AHEAD?

Cameron, a 43-year-old former public relations executive, took over as prime minister on Thursday evening after Brown admitted defeat in efforts to broker a deal with the Lib Dems.

He is Britain's youngest prime minister in almost 200 years.

The Liberal Democrats have more in common with Labour in policy terms, but talks to form what the media called a "coalition of losers" swiftly fell apart.

Conservative politicians took to the airwaves on Wednesday morning to highlight their new good ties with the Lib Dems.

"We formed an excellent working relationship between the parties ... I think we will conduct government in that way as well," said William Hague, a former Conservative leader who will be the new foreign minister.

The Conservatives are the largest party in parliament after last week's election but fell 20 seats short of an outright majority. Combined with the Liberal Democrats, they will have a majority of 76 seats.

The prime minister's office said late on Tuesday there would be five Liberal Democrats in cabinet in total, including Clegg.

It did not name the other four ministers but there were reports Vince Cable, the well regarded Liberal Democrat Treasury spokesman, would have a role overseeing banking and business.

George Osborne, a close friend and ally of Cameron, will become the new Chancellor of the Exchequer (finance minister).

Some in the finance industry have expressed doubts about Osborne because he is untested and takes over an economy emerging from the worst recession since World War Two.

Media reports said Liam Fox would be defense secretary.

BP Oil spill: what happened in the gulf of Mexico

2010-05-12T01:36:00.000-07:00

A drilling rig explosion on April 20 left 11 workers missing and presumed dead, and the rig's subsequent collapse unleashed a major oil spill that threatens the ecosystems and economy of the U.S. Gulf of Mexico.

Also threatened is the heart of U.S. energy production, as a giant, unprecedented underwater leak spreads oil across the northern Gulf of Mexico, threatening areas from Florida to points west of the of the Mississippi River.

President Barack Obama's plans to widen offshore drilling have been suspended, and energy giant BP Plc faces another blow to its reputation and a multibillion-dollar bill for cleaning up the mess and paying damages.

Below is a chronology of the spill and its impact:

* April 20, 2010 - Explosion and fire on Transocean Ltd's drilling rig Deepwater Horizon licensed to BP; 11 workers missing, 17 injured. The rig was drilling in BP's Macondo project 42 miles southeast of Venice, Louisiana, beneath about 5,000 feet of water and 13,000 feet under the seabed. A blowout preventer, intended to prevent release of crude oil, failed to activate.

* April 22 - The Deepwater Horizon rig, valued at more than $560 million, sinks and a five-mile long oil slick is seen.

* April 23 - The U.S. Coast Guard suspends search for missing workers.

* April 25 - The Coast Guard says remote underwater cameras detect the well is leaking 1,000 barrels of crude oil per day. The agency calls the leak a "very serious spill" that threatens ecosystems along the Gulf Coast. It approves a plan to have remote underwater vehicles activate a blowout preventer and stop leak, but the effort fails.

* April 26 - BP's shares fall 2 percent on fears the cost of cleanup and legal claims will deal the London-based energy giant a heavy financial blow.

* April 27 - U.S. departments of Interior and Homeland Security announce joint investigation. Coast Guard says leaking crude may be set ablaze to slow the spread of oil in the Gulf.

* April 28 - The Coast Guard says the flow of oil is 5,000 barrels per day (bpd) (210,000 gallons/795,000 liters) -- five times greater than first estimated. A controlled burn is held on the giant oil slick.

* April 29 - Obama pledges "every single available resource," including the U.S. military, to contain the spill, which Homeland Security Secretary Janet Napolitano says is of "national significance." Obama also says BP is responsible for the cleanup. Louisiana declares state of emergency due to the threat to the state's natural resources.

* April 30 - An Obama aide says no drilling will be allowed in new areas, as the president had recently proposed, until the cause of the Deepwater Horizon accident is known.

* BP Chairman Tony Hayward says the company takes full responsibility and will pay all legitimate claims and the cost of the cleanup. The Interior Department orders safety inspections of all 30 deepwater drilling rigs and 47 deepwater production platforms.

* May 1 - Coast Guard says leak will affect the Gulf shore.

* May 2 - Obama visits the Gulf Coast to see cleanup efforts first hand. U.S. officials close areas affected by the spill to fishing for an initial period of 10 days. BP starts to drill a relief well alongside the failed well, a process that could take two to three months to complete.

* May 5 - A barge begins towing a 98-ton containment chamber to the site of the leak. BP says one of the three leaks has been shut off by capping a valve, but that would not cut the amount of oil gushing out.

* May 6 - Oil washes ashore on the Chandeleur Islands off the Louisiana coast, uninhabited barrier islands that are part of the Breton National Wildlife Refuge and important nesting and breeding areas for many bird species.

* May 7 - BP engineers use undersea robots to move the containment chamber over the larger of the two remaining leaks on the seabed. A fishing ban for federal waters off the Gulf is modified, expanded and extended to May 17.

* May 8 - BP's containment dome hits a snag when a buildup of crystallized gas forces engineers to postpone efforts to place the chamber over the oil leak and siphon oil to the surface. "Tar balls" suspected to come from the leak wash up along a half-mile stretch of Dauphin Island, Alabama.

* May 9 - BP says it might try to plug the undersea leak by pumping materials such as shredded up tires and golf balls into the well at high pressure, a method called a "junk shot."

* May 10 - Forecasts suggest the oil spill could move significantly west of the Mississippi River delta as brisk onshore winds prevail. BP announces plans to place a small containment dome, known as a "top hat," over the blown out well to funnel oil to the surface.

* May 11 - Executives with BP, Transocean and Halliburton appear at congressional hearings in Washington, where Senators criticize their safety records. The executives blame each other's companies for the explosion. The oil slick washes ashore on a third land mass: Louisiana's Port Eads area, on the southern edge of the Mississippi Delta.

LINKS

2010-05-11T02:33:00.001-07:00

Oil rises above $85 in Asia as European countries offer massive bailout loan to Greece

2010-04-12T01:56:00.001-07:00

Oil prices rose above $85 a barrel Monday in Asia after European countries offered a massive loan to debt-ridden Greece.

Benchmark crude for May delivery was up 35 cents to $85.27 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract lost 47 cents to settle at $84.92 on Friday.

The finance ministers of the 15 eurozone nations agreed Sunday to offer euro 30 billion ($40 billion) in loans to Greece this year if Athens asks for the money.

The promise -- filling in details of a March 25 pledge of joint eurozone-IMF help -- was another attempt to calm markets that have been selling off Greek bonds.

Oil was down the previous three days on investor concern that slowly recovering U.S. crude demand doesn't justify further gains. Crude jumped 25 percent to above $87 last week from $69 in early February.

"If oil markets continue to take cues from supply and demand -- in preference to the dollar, equities or economic data -- we cannot paint a picture that includes higher prices," Cameron Hanover said in a report.

In other Nymex trading in May contracts, heating oil added 1.02 cents to $2.2362 a gallon, and gasoline gained 0.71 cents to $2.2964 a gallon. Natural gas was steady at $4.062 per 1,000 cubic feet.

In London, Brent crude was up 55 cents at $85.38 on the ICE futures exchange.

Greece debt crisis

2010-04-12T01:52:00.000-07:00

Trying again to halt a debt crisis that has hammered the euro, fellow eurozone governments tossed struggling Greece a financial lifeline Sunday, saying they would make euro30 billion in loans available this year alone -- if Athens asks for the money.

The International Monetary Fund stands ready to chip in another euro10 billion, said Olli Rehn, the EU monetary affairs chief.

The promise -- filling in details of a March 25 pledge of joint eurozone-IMF help -- was another attempt to calm markets that have been selling off Greek bonds in recent days.

Markets viewed the March pledge as too vague and carrying such tough restrictions that Greece could not easily get the money. As a result, investors demanded high rates to loan to the government as it struggles to avoid default -- rates the government says it can't go on paying. Greece has some euro54 billion in debt coming due this year and a huge budget deficit.

In an emergency video conference, the finance ministers of the 16-eurozone nations agreed on a complex three-year financing formula that generates an interest rate of "around 5 percent."

This is less than commercial market rates -- which have soared above 7 percent on Greek 10-year borrowing in recent weeks as the debt crisis dragged on -- but more than beneficiaries of IMF usually pay. European Central Bank president Jean-Claude Trichet and German Chancellor Angela Merkel have insisted that Greece not get below-market interest rates amounting to an EU subsidy for its past bad behavior.

"This is certainly no subsidy" to Greece, Rehn told a news conference.

The test of Sunday's announcement will be whether it restores confidence that Greece will not default and gives it a chance to borrow normally at lower rates. Under last week's rates, Greece would have had to pay more than twice what Germany pays.

The danger is that interest payments themselves begin to sink the budget despite severe cutbacks imposed in recent days. A Greek default would be a serious blow to the euro, rattle markets and inflict losses on European banks that have bought Greek government bonds.

Greek Finance Minister George Papaconstantinou said Greece had not asked for the plan to be activated, and still hoped to borrow on markets rather than seeking a rescue.

"The Greek government has not asked for the activation of the mechanism, even though this is already immediately available," Papaconstantinou said in Athens. "The aim is, and we believe we will continue to borrow unhindered on the markets."

Officials, speaking privately, told The Associated Press they first want to see how markets react on Monday.

European Commission President Jose Manuel Barroso said the pledge of cash for Greece showed the 16 euro-zone nations will defend Europe's single currency and help a partner in trouble.

"It shows that the euro area is serious in doing what is necessary to secure financial stability," Barroso said in a statement.

"I am convinced that it will help Greece to continue vigorously correct public finances imbalances and to deliver the necessary structural reforms."

Rehn said the loan deal will be "the clarification that the markets are waiting for."

Those markets, however, have so far ignored repeated EU claims of support for Greece causing commercial lending rates for Athens to go to 7 percent and more in recent weeks.

At two summit meetings -- one in February and one in March -- the EU leaders made determined noises about their readiness to end the Greek debt crisis.

But the terms were tough, with Greece needing approval of all 15 other eurozone governments and only if it could not borrow any other way. German fears a bailout with soft loans will only rile German public opinion which already takes a dim view of Greece's financial housekeeping.

EU and IMF officials will meet Monday to work out details of IMF and EU lending for 2011 and 2012, especially on amounts and loan conditions. Officials estimated that over a three-year period Greece was being offered a total of euro80 billion in financial aid by the EU and the IMF.

Greece has been spending beyond its means for years, leaving it with a 2009 budget deficit of 12.9 percent of economic output. The revelation of its statistics fudging has slammed the euro and gutted market confidence, fueling higher borrowing costs.

Athens plans to cut its deficit to 8.7 percent this year and has launched a euro4.8 billion austerity program cutting public sector wages, freezing pensions and hiking taxes.

HIGHER INTEREST RATES NOW?

2010-04-11T03:51:00.000-07:00

As prospects for the U.S. economy brighten, consumers are about to face a new financial burden: a sustained period of rising interest rates.

That, economists say, is the inevitable outcome of the nation's ballooning debt and the renewed prospect of inflation as the economy recovers from the recession.

The shift is sure to shock consumers whose spending habits were shaped by a historic 30-year decline in the cost of borrowing.

"Americans have assumed the roller coaster goes one way," said Bill Gross, whose investment firm, Pimco, has taken part in a broad sell-off of government debt, which has pushed up interest rates. "It's been a great thrill as rates descended, but now we face an extended climb."

The impact of higher rates is likely to be felt first in the housing market, which has recently begun to rebound. The rate for a 30-year fixed rate mortgage has risen half a point since December, hitting 5.31 last week, the highest since last summer.

Along with the sell-off in bonds, the Federal Reserve has halted its emergency $1.25 trillion program to buy mortgage debt, placing more upward pressure on rates.

"Mortgage rates are unlikely to go lower than they are now, and if they go higher, we're likely to see a reversal of the gains in the housing market," said Christopher Mayer, a professor of finance and economics at Columbia Business School. "It's a really big risk."

Each 1 percent increase in rates adds up to 19 percent to the total cost of a home, according to Mayer.

The Mortgage Bankers Association expects the rise to continue, with the 30-year mortgage rate going to 5.5 percent by late summer and as high as 6 percent by the end of the year.

Another area in which higher rates are likely to affect consumers is credit-card use. Last week, the Federal Reserve reported the average interest rate on credit cards reached 14.26 percent in February, the highest since 2001. That is up from 12.03 percent when rates bottomed out in the fourth quarter of 2008, a jump that amounts to about $200 a year in additional interest payments for the typical U.S. household.

With losses from credit-card defaults rising and with capital to back credit cards harder to come by, issuers are likely to increase rates to 16 or 17 percent by the fall, said Dennis Moroney, a research director at the TowerGroup, a financial-research company.

Similarly, many car loans have become significantly more expensive, with rates at auto-finance companies rising to 4.72 percent in February from 3.26 percent in December, according to the Federal Reserve.

The federal government, too, is expecting to have to pay more to borrow. The Office of Management and Budget expects the rate on the benchmark 10-year U.S. Treasury note to remain close to 3.9 percent for the rest of the year, but then rise to 4.5 percent in 2011 and 5 percent in 2012.

The long decline in interest rates also helped prop up the stock market; lower rates for investments such as bonds make stocks more attractive.

That tail wind, which prevented even worse economic pain during the recession, has ceased, according to economists, analysts and money managers.

"We've had almost a 30-year rally," said David Wyss of Standard & Poor's. "That's come to an end."

What Does Aggregation Mean

2010-04-08T02:23:00.000-07:00

1. Used in corporate financial planning, aggregation is a process whereby a number of a firm's smaller projects are combined and treated as an individual project.

2. Used in futures markets, aggregation is a principal involving the combination of all future positions owned or controlled by a single trader or group of traders.

The end of wall street

2010-04-08T02:18:00.000-07:00

The day after the Federal Reserve permitted both Goldman Sachs (NYSE: GS - News) and Morgan Stanley (NYSE: MS - News) to become bank holding companies, in September 2008, The Wall Street Journal editorialized that the end of Wall Street had arrived. "[I]n a single week, the era of the independent investment bank has ended," the paper's editorial writers observed, along with many others. "Wall Street as we've known it for decades has ceased to exist."

Superficial change
While in a literal sense, the Journal was correct -- the investment banks that relied most heavily on the short-term financing of their long-term assets were indeed defunct -- the question remains just how much has really changed on Wall Street, and how different is the world of finance than it was before the momentous events of 2008? The surprising answer -- given all the hyperbolic editorializing at the time -- is that very little has changed on Wall Street in the aftermath of one of the worst financial debacles since the laws that separated commercial banking from investment banking were first implemented during the Great Depression.

True, Goldman Sachs and Morgan Stanley have fewer competitors for their services than ever before, as Bear Stearns has all but disappeared (after being bought by JPMorgan Chase (NYSE: JPM - News)); and Lehman Brothers and Merrill Lynch are much altered after being absorbed by Barclays and Bank of America (NYSE: BAC - News), respectively. That is a serious change, in their favor. What were once the Big Five Wall Street firms has been reduced to two, although to be sure plenty of competition for them still exists from the so-called universal banks such as JPMorgan Chase, Citigroup (NYSE: C - News), Bank of America, Credit Suisse (NYSE: CS - News) and Deutsche Bank (NYSE: DB - News).

Subsidizing the Street
The other major change -- again in their favor -- is that as bank holding companies, both Goldman and Morgan Stanley now have easy access -- on a regular basis, free of negative connotations -- to cheap, short-term funding from the Federal Reserve. After Bear Stearns failed in March 2008, the Fed for the first time opened its discount window to investment banks. But Wall Street firms that availed themselves of such borrowing worried that a stigma would attach to them, and seemed to avoid doing it. Now, they can borrow billions of dollars from the Fed at will at around 75 basis points and then turn around and lend that money right back to the U.S. Treasury (by buying Treasury bills or bonds) and pocket spreads of 200 basis points and up. In effect, American taxpayers are now subsidizing the profits of Wall Street.

So, yes, as these two examples illustrate, one could say there have been dramatic changes in the way -- what used to be -- Wall Street operates.

Yet little has really changed
But, in a larger sense, very little, if anything, has changed on Wall Street in the aftermath of the crisis. For absurdly high fees, Wall Street still provides M&A advice on deals. Wall Street still underwrites debt and equity securities for its corporate clients. Wall Street still provides brokerage services for institutional and retail clients. Wall Street still provides prime brokerage services for hedge funds, although because of the much-diminished competition, those that do -- among Goldman, Credit Suisse, JPMorgan -- can charge higher and higher fees and demand more and more margin. For all the talk of reregulation and the implementation of the so-called Volcker Rule, Wall Street can still engage in proprietary trading and make private equity investments. One thing that Wall Street no longer does is to underwrite and to sell mortgage-backed securities, although in time even that will likely resume.

The Journal also predicted that, under the Fed's oversight, neither Goldman nor Morgan Stanley would be able to use nearly as much "leverage" in their business as they had previously, which is undoubtedly true. "That in turn means less risk and almost certainly less profit and lower compensation," the paper conjectured. That's the part that has yet to come to pass. In 2009, Goldman had record profitability -- of $13.4 billion -- driven, in part, by the twin benefits -- of the lower cost of capital and fewer competitors -- the crisis sent its way. And, of course, Wall Street still pays its employees at absurdly high levels, compared to what they could possibly make doing anything else in the real world.

The sad truth
To see the genuine changes that the financial crisis has wrought, one must look beyond Wall Street, to Main Street. With a chronic 10% unemployment rate -- and as high as 18% if those who have just given up looking altogether are accounted for (as well as jobs in certain industries that are gone forever and homes that are no longer worth the amount of the mortgage on them), the burden of the financial crisis is without question being disproportionately borne by the American people; and that is without even trying to account for the huge budget deficits brought on, in part, by the Wall Street bailouts. These deficits will no doubt linger for our children and grandchildren to sop up.

The sad truth of the denouement of the financial crisis at the moment is that Wall Street is much the same as it was before; it's Main Street that may never be the same again.

Hain Foods: what's wrong?

2010-04-08T02:14:00.000-07:00

Cramer's recent interview with Hains Food (Hain) CEO Irwin Simon was one of his worst calls ever. I have to tell you that generally I am a fan of Cramer because he provides good insight into companies and usually doesn't play favorites. He also generally recommends "best of breed " companies with sound rationale and catalysts for improved stock performance.

Hain Foods is not "best of breed" in the the food manufacturing sector. If you're looking for best of breed in the food sector look to General Mills (GIS), Nestle (NSRGY.PK), Smuckers (SJM) or even Treehouse (THS) in the private label sector.

So what is wrong with Hain Foods ? First, they really only have one nationally, recognizable brand in Celestial Seasonings. In this current environment, tier one brands are doing well along with private label. Tier 3 and tier 4 brands are struggling. Second, they have no critical mass in any one category. Retailers continue to hold the leverage (i.e. shelf space) and the brands that are performing the best have #1 market share and are strong leaders in their categories. Third, consumers are still very price-conscious and that is holding back sales in the Natural and Organic area. While that may change if the economy continues to improve, we dont believe that will be a strong catalyst for sales growth for Hain Foods.

One need only look to Hains sales growth to find the answer. Last quarter sales were $242mm v.s. the previous year at $312mm. For the current quarter, sales are estimated to decline -14%. In the consumer foods sector, sales growth is key. It is certainly tough in this deflationary environment, but the better performers are at least delivering positive sales growth.

Lastly, there was no mention of Mr. Simon selling more than $400,000 in Hain stock on April 1, 2010. Not the sort of unbiased reporting that we expect from Cramer.

Hain does have a strong position in the healthy and better for you food sector. However, they have not figured out a way to leverage their portfolio of brands and the sector itself is still under pressure.

EU solutions to Greek debt crisis

2010-03-24T11:23:00.000-07:00

The sinking euro and a downgrade of Portugal's debt put renewed pressure on European leaders Wednesday to come up with a bailout plan for Greece and stem the government debt crisis undermining their shared currency.

But agreement remained elusive as a Thursday summit approached. Markets increasingly expect any bailout for Greece to involve the International Monetary Fund -- and EU governments are discussing whether they would permit that and add financial help from eurozone nations.

Germany is holding back a deal, reluctant to put taxpayer money on the line for Greece. But failure to help an indebted eurozone country would be an admission that Europe can't halt the crisis in its currency union.

The latest vote of no confidence in vulnerable eurozone economies came with Fitch Ratings' downgrade Wednesday of Portugal's debt. The credit ratings agency said Portugal's prospects for recovery were weaker than others in the eurozone and it faces problems shrinking its budget deficit.

The euro hit a 10-month low against the U.S. dollar on Wednesday on the Portuguese downgrades and the uncertainty over Europe's dithering over Greece -- which says it will need eurozone or IMF help if markets keep charging it painfully high costs to borrow.

Greece's debt crisis has undermined the euro by showing that the rules supporting it have not prevented governments from overspending, hitting public accounts. Athens' woes are also putting pressure on other eurozone countries with troubled finances, such as Portugal and Spain.

European diplomats speaking on condition of anonymity said Spain's Jose Luis Rodriguez Zapatero is heading efforts to get the 16 eurozone nations to meet separately Thursday on the crisis surrounding Greece, in addition to the meeting by all 27 EU member governments.

Eurozone leaders have only met once for a summit before at the height of the banking crisis in 2008. "He is pushing hard for this and we think it is going to happen," said the diplomat.

EU President Herman Van Rompuy is also asking for a eurozone summit, said another EU official. He met French President Nicolas Sarkozy in Paris on Wednesday, Sarkozy's office said.

However, Germany is not keen, with a senior government official in Berlin saying "for us, there is no decision at this summit on aid to Greece."

He said aid "comes into question only as a last resort" when Greece has exhausted all efforts to raise money from bond markets.

The German government wants the IMF to be "significantly involved" in any bailout because it believes that it could face a legal challenge from the country's powerful constitutional court unless it can prove that that any European or German aid is the last option left to Greece.

European Commission President Jose Manuel Barroso said EU leaders were facing a test of their commitment to the currency union and should set up "a safety net to be used only in case all other means to avoid the crisis have been exhausted."

"What is at stake is the essential principle of financial stability that is at the center of the euro, and the euro is the most important creation of the European project," he told the European Parliament.

He hinted that IMF help would be acceptable but said it needs to be with the EU's blessing "embedded into a giant European framework."

Greek government spokesman George Petalotis also said Greece was waiting for a detailed EU plan that would "exert influence in such a way that our country can borrow, when it requires money."

He stressed that Greece was "not seeking financial help from anyone" but needed an option to avoid crippling interest rates that are undermining Greek efforts to shave billions of euros from its budget this year.

The countries that use the euro pledged last month to help Greece if the stability of the currency zone were threatened -- but agreed no details. Germany says it doesn't need to fulfill that promise yet, especially not to save Greece from years of overspending and faking its budget numbers.

German Chancellor Angela Merkel saw no reason to move quickly, saying Sunday that EU leaders shouldn't discuss a potential bailout at the two-day summit starting Thursday because Greece is not yet asking for help and is not on the verge of bankruptcy.

Merkel is also pressing for tough new rules to restrain deficit spending by eurozone members to prevent future debt crises.

Germany's economy minister Rainer Bruederle repeated that position Wednesday, telling the daily Passauer Neue Presse that "aid for Greece would be the wrong signal. We must not create a precedent that other eurozone countries can refer to in the future."

"It cannot be possible that German taxpayers have to pick up the bill for mismanagement in Greece and elsewhere," he said.

HOW TO FIGHT STRESS WITH FOOD

2010-03-24T11:18:00.000-07:00

We all know that tension can wreak havoc on our eating patterns. But the right (healthy!) foods can often help tame mindless munching and cravings and, better yet, actually lower overall anxiety and its symptoms. Eight of our favorites:

Dark Chocolate

High in flavonoids, which are lauded for their relaxing properties (chamomile tea is another great source), chocolate also contains phenethylamine, a chemical that enhances your mood. The darker the chocolate, the more healthy substances you're getting in your diet, so look for bars that are 70 percent cacao or higher.

Skim Milk

Turns out that a glass of warm milk really is calming. One study found that women who drank four or more servings of lowfat or skim milk every day were about half as likely to experience stress-related PMS symptoms than those who drank less than one serving a week.

Oatmeal

Carbs help you produce serotonin, a calming hormone that helps fight anxiety's negative effects-which is probably why many of us crave them when we're stressed. Go with the craving and choose healthy sources. Oatmeal is high in fiber, which means that your body will absorb it slowly. In one fell swoop, you'll prolong the serotonin boost, keeping yourself feeling full for longer (and on less) and making sure your blood sugar's in check.

Salmon

Research shows that omega-3 fatty acids-abundant in fish like salmon-can help reverse stress symptoms by boosting serotonin levels, and that an omega-3-rich diet can also help suppress the production of the anxiety hormones cortisol and adrenaline.

Walnuts

They've been shown to help lower blood pressure, which is critical for those whose hearts are already working overtime thanks to high adrenaline levels. In fact, research so strongly backs their health benefits that the U.S. Food and Drug Administration goes so far as to recommend 1 1/2 oz per day.

Sunflower Seeds

A good source of folate, which helps your body produce a pleasure-inducing brain chemical called dopamine.

Spinach

Studies show that magnesium, which you'll find in leafy greens like spinach, improves your body's response to stress.

Blueberries

Their antioxidants counteract the effects of stress hormones like cortisol on your body.

Carolyn McCall confirmed as easyJet chief

2010-03-24T03:26:00.000-07:00

Low-cost airline easyJet has confirmed that Carolyn McCall, the chief executive of Guardian Media Group, is to be its next chief executive.

A start date for McCall, who has worked at Guardian Media Group for 24 years, has not yet been finalised.

Sir Michael Rake, the chairman of easyJet, said that McCall had been chosen to run the FTSE company following a "thorough process" against a field of "high calibre" candidates.

"Following a thorough process involving a number of high calibre candidates we have unanimously chosen a strong chief executive with the strategic ability, operational capability and passion to drive easyJet through the next stage of its development and we look forward to working with Carolyn," said Rake.

The company said that McCall, who joined GMG as a research planner in 1986 and rose through the ranks to be appointed group chief executive in 2006, had a "proven track record of successful operational delivery in a fast changing online consumer-facing business combined with extensive plc board and government and lobbying experience."

"The Guardian has been my second family for a quarter of a century, and I feel incredibly privileged to be part of such a wonderful and unique organisation," said McCall. "However, the chance to lead a FTSE company of easyJet's calibre is a once-in-a-lifetime opportunity. My priority will be to build on easyJet's strengths – a strong consumer proposition, leadership positions in many of Europe's key airports, and an operating model built around simplicity and low cost."

McCall, 48, has held non-executive roles at New Look, Lloyds TSB and Tesco. During her time at the Guardian she oversaw investment programme in new printing presses which facilitated a move from broadsheet to Berliner format. She was the driving force in the acquisition of a 30% stake in Emap's business-to-business titles in a £1bn deal with equity partner Apax in 2007. The funds for the move were raised from the sale of a stake in Trader Media Group to Apax for £675m. She also oversaw the launch of Guardian Unlimited, parent of MediaGuardian.co.uk, and the establishment of an investment portfolio worth more than £200m.

McCall said that she felt that she was leaving GMG, which has been undergoing a cost-cutting programme to reduce significant losses, "knowing that our journalism has never been more influential or widely read, and with complete confidence that its financial position is secure".

"Carolyn has been an inspired and visionary leader of the Guardian, the Observer and GMG," said Alan Rusbridger, the editor-in-chief of GNM. "She has unwaveringly supported our journalists and, with GMG, worked tirelessly to develop a highly successful media company to protect and nourish our editorial output and aims. She is a digital pioneer, a lovely colleague and a good friend."

Gap in health care protection for children

2010-03-24T03:19:00.000-07:00

Hours after President Barack Obama signed historic health care legislation, a potential problem emerged. Administration officials are now scrambling to fix a gap in highly touted benefits for children.

Obama made better coverage for children a centerpiece of his health care remake, but it turns out the letter of the law provided a less-than-complete guarantee that kids with health problems would not be shut out of coverage.

Under the new law, insurance companies still would be able to refuse new coverage to children because of a pre-existing medical problem, said Karen Lightfoot, spokeswoman for the House Energy and Commerce Committee, one of the main congressional panels that wrote the bill Obama signed into law Tuesday.

However, if a child is accepted for coverage, or is already covered, the insurer cannot exclude payment for treating a particular illness, as sometimes happens now. For example, if a child has asthma, the insurance company cannot write a policy that excludes that condition from coverage. The new safeguard will be in place later this year.

Full protection for children would not come until 2014, said Kate Cyrul, a spokeswoman for the Senate Health, Education, Labor and Pensions Committee, another panel that authored the legislation. That's the same year when insurance companies could no longer deny coverage to any person on account of health problems.

Obama's public statements have conveyed the impression that the new protections for kids were more sweeping and straightforward.

"This is a patient's bill of rights on steroids," the president said Friday at George Mason University in Virginia. "Starting this year, thousands of uninsured Americans with pre-existing conditions will be able to purchase health insurance, some for the very first time. Starting this year, insurance companies will be banned forever from denying coverage to children with pre-existing conditions."

And Saturday, addressing House Democrats as they approached a make-or-break vote on the bill, Obama said, "This year ... parents who are worried about getting coverage for their children with pre-existing conditions now are assured that insurance companies have to give them coverage — this year."

Late Tuesday, the administration said Health and Human Services Secretary Kathleen Sebelius would try to resolve the situation by issuing new regulations. The Obama administration interprets the law to mean that kids can't be denied coverage, as the president has said repeatedly.

"To ensure that there is no ambiguity on this point, the secretary of HHS is preparing to issue regulations next month making it clear that the term 'pre-existing exclusion' applies to both a child's access to a plan and his or her benefits once he or she is in the plan for all plans newly sold in this country six months from today," HHS spokesman Nick Papas said.

The coverage problem could mainly affect parents who purchase their own coverage for the family, as many self-employed people have to do. Families covered through employer plans typically do not have to worry about being denied coverage because of pre-existing conditions.

Parents whose kids are turned down by an insurer would still have a fallback under the law, even without Sebelius' fix. They could seek coverage through state high-risk insurance pools slated for a major infusion of federal funds.

The high-risk pools are intended to serve as a backstop until 2014, when insurers no longer would be able to deny coverage to those in frail health. That same year, new insurance markets would open for business, and the government would begin to provide tax credits to help millions of Americans pay premiums.

An insurance industry group says the language in the law that pertains to consumer protections for kids is difficult to parse.

"We're taking a closer look at it to see what exactly the requirement will be," said Robert Zirkelbach, spokesman for America's Health Insurance Plans, the main industry lobby.

SELF CATERING SICILY - GIANFERRANTE FARMHOUSE WITH TENNIS COURT AND SWIMMING POOL

2010-03-23T02:48:00.000-07:00

The most fun to visit the eastern Sicily consists in rent a villa on the spot, then visit every day a new place. The most beautiful place in the area is certainly Gianferrante self-catering, equipped with all amenities, tennis court and swimming pool available to all guests. There you'll be in the center of a radial pattern that includes the most beautiful places of Sicily: Catania's baroque churches, the charm of Taormina, the splendor of the Villa del Casale at Piazza Armerina, the unique city of Noto. Gianferrante Farmhouse Self-catering Sicily has double rooms, apartments and villas. The website also features a convenient service, car rental and plane ticket to the international airport of Catania Fontanarossa. For prices, photos and availability please click here.

HOLIDAY RENTALS DATABASE

2010-03-23T01:40:00.000-07:00

The website www.holidayrentalsdatabase.com is a very useful resource for those who want to rent their home, even for short periods. The ads are completely free, just send the photo of your house with a short descriptive text, and the guys will create a link to your site. If you do not have a website they can build one for a modest sum. A few months after starting the site has already been seen by tens of thousands of visitors, providing excellent results. If you want to rent your house or your hotel rooms click here.

Chinese shrug shoulders at possible Google pull-out

2010-03-22T03:58:00.000-07:00

With speculation swirling that Google Inc will soon announce the closure of its China-based Internet portal, the reaction from some Chinese has been hurry up and leave, or simply: so what?

On Friday, the China Business News reported Google may make an announcement as early as Monday on whether it will pull out of China.

The Financial Times, citing a person familiar with the situation, said the company could say on Monday that it will close its Chinese search engine.

Google has not formally unveiled any such plans.

Two months since Google said it would no longer agree to abide by Beijing's censorship rules even if that meant shutting down its Google.cn site, some Chinese Internet users and state newspapers are baying for the company to pull out.

The burst of angry Chinese comments suggested that, in spite of the widespread popularity of Google amongst educated Chinese, the government is steering state-run media and websites to lump the company together with other recent disputes with Washington that have stirred nationalist rancour in China.

"Get the hell out," wrote one user on the website of the nationalist tabloid the Global Times (www.huanqiu.com), in remarks echoed by other readers.

"Ha ha, I'm going to buy firecrackers to celebrate!" wrote another, in anticipation of the company confirming its departure from the online search market.

Joseph Cheng, a City University of Hong Kong politics professor, said China's ruling Communist Party was deploying nationalism to stifle debate about censorship.

"The criticism of cultural exports, or cultural imperialism, is a kind of defence to justify the Chinese authorities' censorship controls," said Cheng.

"In dealing with the American government, the Chinese authorities will try to emphasise that this is only a commercial dispute and has nothing to do with Sino-American relations," he added.

GOOD RIDDANCE?

A Global Times editorial cited online surveys as showing 80 percent of respondents said they could not care less if Google withdrew from China, the world's largest Internet market with an estimated 384 million users.

The saga was a reminder of the country's need to develop its own technology and not rely on foreigners, the editorial said.

"This is a high-tech competition, and also a competition to uphold the state's sovereignty," the editorial said.

Some bloggers went a step further and accused Google of being in cahoots with U.S. intelligence.

"It is understood that Google is very tight with the CIA," wrote "Xiaogui" on the popular portal sina.com.cn. "Take this opportunity to leave now, you spies."

Though Google has remained mum on the progress of talks, the firm's chief executive said earlier this month that an outcome is expected "soon".

The Google case has spread beyond censorship and hacking and has become a diplomatic knot in Sino-U.S. relations, already being challenged by spats over Taiwan, Tibet and the value of the Chinese currency.

The United States is studying whether it can legally challenge Chinese Internet restrictions, a top U.S. trade official said recently.

Over the weekend, a commentary by the official Xinhua news agency accused Google of pushing a political agenda by "groundlessly accusing the Chinese government" of supporting hacker attacks and by trying to export its own culture, values and ideas.

BLOW TO INNOVATION?

Analysts said if Google withdrew from China, the biggest losers would be its millions of Internet users.

With two research and development centres in China, hundreds of sales staff and engineers working on the Google Android platform and other initiatives, analysts said all may come to a halt if Google decides on a pull out.

"This is not a good thing for Chinese netizens because Google has been the leader in innovation in the search engine field," said Cao Junbo, chief analyst with iResearch, a Beijing-based research firm specialising in technology matters.

Currently, Google offers Google Maps, Gmail and free music downloads to Chinese users, all of which could be in jeopardy if the company walks.

Even Google's mobile platform Android is not safe, as Google products such as search which are embedded into the platform will stop working if Google withdraws, making the platform less desirable to consumers, analysts said.

Google's withdrawal will open up China's $1 billion search market to more local firms, Cao said.

The biggest beneficiary will be domestic search leader Baidu Inc, which already has a sophisticated search advertising display system and a robust sales and customer support team.

Others such as Tencent Holdings, China's most valuable Internet company, may also benefit as the firm runs the country's largest instant messaging platform that it could tap into to expand its search network.

"The biggest gainers of Google leaving will definitely be the local firms," Cao said.

US business feeling unwelcome in China, says survey

2010-03-22T03:55:00.000-07:00

US companies feel increasingly unwelcome in China because of what they see as discrimination and inconsistent legal treatment, according to a survey.

The American Chamber of Commerce in China (ACCC) found 38% of its members felt unwelcome, from 26% last quarter.

Inconsistent regulation and judicial treatment topped the list of concerns for American businesses, ACCC found.

It follows alleged cyber attacks on Google, and Chinese claims that the firm is too close to the US government.

Companies surveyed by the ACCC cited claims that Beijing wanted to squeeze foreign technology companies out of the multi-billion dollar market for selling computers and office equipment to government departments.

New rules stipulate sellers of high-tech goods must contain Chinese intellectual property as part of an "indigenous innovation" campaign, in order for them to be included in a government procurement catalogue.

"The survey shows that US companies believe they face product discrimination in state-owned enterprise purchases, as well as in government procurement," the survey said.

Of the American technology companies surveyed, 57% said they expected the preferential purchasing policy to have a negative impact on their operations in China while 37% said they were already losing sales.

Member-companies believed some policies in China were "increasingly restrictive and protectionist" which could limit foreign participation in the world's third largest economy, the survey said.

The survey was released as the trial opened in Shanghai of four employees of Anglo-Australian miner Rio Tinto on allegations of bribery and espionage.

The defendants were arrested last July during contentious iron ore contract negotiations that later collapsed.

Cancer genes switched off in humans

2010-03-22T03:53:00.000-07:00

For the first time, researchers have used short sequences of RNA that can effectively treat skin cancer in people by silencing specific genes behind tumour production.

Mark Davis from the California Institute of Technology in Pasadena and his colleagues have used the technique, called RNA interference (RNAi), to deliver particles containing such sequences to patients with the skin cancer melanoma.

When analysing biopsies of the tumours after treatment, they found that the particles had inhibited expression of a key gene, called RRM2, needed for the cancer cells to multiply.

The researchers created the particles from two polymers plus a protein that binds to receptors on the surface of cancer cells and pieces of RNA called small-interfering RNA, or siRNA, designed to stop the RRM2 gene from being translated into protein.

The siRNA works by sticking to the messenger RNA (mRNA) that carries the gene's code to the cell's protein-making machinery and ensuring that enzymes cut the mRNA at a specific spot.

When the components are mixed together in water, they assemble into particles about 70 nanometres in diameter. The researchers can then administer the nanoparticles into the bloodstream of patients, where the particles circulate until they encounter 'leaky' blood vessels that supply the tumours with blood.

The particles then pass through the vessels to the tumour, where they bind to the cell and are then absorbed. Once inside the cell, the nanoparticles fall apart, releasing the siRNA. The other parts of the nanoparticle are so small, they pass out of the body in urine.

"It sneaks in, evades the immune system, delivers the siRNA, and the disassembled components exit out," Nature quoted Davis as saying.

When researchers analysed tumour samples from three of the patients who volunteered samples, they found fragments of the mRNA in exactly the length and sequence they would expect from the design of their siRNA.

And in at least one patient, the levels of the protein were lower than they were in samples of the tumours taken before treatment.

They also found that patients who were given higher doses had higher levels of siRNA in their tumours. "The more we put in, the more ends up where they are supposed to be, in tumour cells," said Davis.

Davis says that by targeting specific genes he hopes these treatments will not have major side effects. "My hope is to make tumours melt away while maintaining a high quality of life for the patients. We're moving another step closer to being able to do that now," he said.

The study has been published in Nature.

Quantum film might replace CMOS

2010-03-22T03:51:00.000-07:00

QUANTUM FILM could replace conventional CMOS image sensors in digital cameras.

According to EETimes, the film is made from materials similar to conventional film - a polymer with embedded particles.

Howver instead of silver grains like photographic film, the embedded particles are quantum dots, which we guess are only in the camera if you see them.

Quantum films can image scenes at higher pixel resolutions and are four times more sensitive than the finest grained photographic film.

Developed by the firm Invisage, the technology would be ideal for mobile phones as it creates the next generation image sensor because it gathers more light, so you can either build a higher resolution mobile phone camera or make a smaller image sensor to turn out a less expensive one with the same resolution.

Conventional digital cameras would gain much higher resolution sensors by using quantum film material.

The technology was developed by University of Toronto professor Ted Sargent. It involves suspending lead-sulfide nanoparticles in a polymer matrix to form a new class of semiconducting polymer.

Quantum film is put on a low-cost wafer that has the electrode array for super-dense, high pixel-count images. It is cheaper to produce than CMOS photodetectors that make up the bulk of conventional digital camera sensors.

Tiger Woods reveals how wife reacted over infidelity

2010-03-22T03:50:00.000-07:00

Tiger Woods has revealed in a television interview how his wife Elin Nordegren reacted when she discovered he had cheated on her.

"She was hurt, she was hurt, very hurt. Shocked. Angry," the Mirror quoted Woods as saying in an interview with sports station ESPN.

"And you know, she had every right to be and I'm disappointed as everyone else in my own behaviour because I can't believe I did that to the people I loved," he added.

The disgraced golfer also revealed what led him to cheat on the mother of this two children, Sam, two and Charlie, one.

"Well I had gotten away from my core values. I'd gotten away from my Buddhism. And I quit meditating," he said.

"Stripping away denial and rationalism you start coming to the truth of who you really are and that can be very ugly. But then again, when you face it and you start conquering and you start living up to it. The strength that I feel now, I've never felt that type of strength," he added.

Cornell University posts guards at bridge after series of suicides

2010-03-17T11:00:00.000-07:00

An Ivy League university has posted guards on a bridge over a deep gorge after several student suicides this year.

Three students at Cornell University in Ithaca, New York state, have killed themselves in the last month. As well as posting guards, the university is sending staff members to knock on the door of every student living on campus to check on them, and has extended the hours of its student counselling centres.

"While we know that our gorges are beautiful features of our campus, they can be scary places at times like this," Susan Murphy, vice-president of student services and activities, said in a video message to the campus.

Students have speculated that the long, cold winter and stress from Cornell's rigorous academic programme may have contributed to the suicides. Campus officials maintain that the suicide rate is in line with national statistics and point out that the university had none between 2006 and 2008.

Timothy Marchell, Cornell's director of mental health initiatives, said the area's gorges contributed to unfounded fears of a suicide epidemic. "When a death occurs at Cornell in one of our gorges it's a very public experience," he told the Associated Press.

Founded in 1865 in the aftermath of the US civil war, Cornell is one of America's top universities. It has more than 21,000 students, including its medical and law schools.

Other US universities have grappled with the issue of student suicides, even though a 1997 University of Chicago study found that the suicide rate among higher education students was about half that of non-students.

Obama to Talk Health Care on FOX But Conservatives Won't Be Swayed

2010-03-17T10:53:00.000-07:00

Obama will take to FOX News tonight to talk health-care reform. "Many of the falsehoods and myths about health reform gained traction with Glenn Beck and others on FOX, so the president is returning to the scene of the crime to make the final sale," a White House official explained to Politico earlier today.

It sounds like a sensible calculation: dismantle arguments about government takeovers and death panels, up popular support. In fact, NEWSWEEK tested out that idea in our most recent poll. We wanted to know: when Americans learn more about health-care reform, do they support it more? Turns out, while that is indeed the case for liberals, conservatives are not likely to support health-care reform when they know what it actually does.

More from the poll: in late February, we asked Americans if they supported Obama’s health-reform plan and got a pretty predictable response: only 15 percent of self-described conservatives supported the plan versus 72 percent of liberals.

We then dug a little deeper. We explained eight specific proposals to change the health-care system, things like requiring all Americans to have health insurance and barring insurer discrimination against those with preexisting conditions. After getting through the list, we revealed that these eight proposals were the main components of the Democrats' plan. We asked our question again: do you support Obama’s plan to reform health care?

Liberals were a whole lot more likely to favor health-care reform after hearing information: 72 percent support prior to learning about health reform shot up to 83 percent afterward.

Conservatives, however, were a completely different story: they moved from 15 to 18 percent support. This shift, I should point out, was within the poll’s 3.6 percent margin of error, meaning that, statistically speaking, conservatives did not change their opinions at all.

Why don’t conservatives support health-care reform? Perhaps the myths—which are indeed plentiful—have gotten too much traction for the Democrats to dispel at this point. Conservatives may have soured on health-care reform because of the drawn-out political battles and have philosophical objections to Obama’s plan. My bet is it's some combination of these elements. Taken as a whole, they mean Obama is battling a pretty formidable opponent tonight.

'Obama is Responsible for the Crisis in Jerusalem'

2010-03-17T10:51:00.001-07:00

Why, then, the outbreak of violence now? Why Hamas's "day of rage" over Jerusalem and the Palestinian Authority's call to gather on the Temple Mount to "save" the Dome of the Rock from non-existent plans to build the Third Temple? Why the sudden outrage over rebuilding a synagogue, destroyed by the Jordanians in 1948, in the Old City's Jewish Quarter, when dozens of synagogues and yeshivas have been built in the quarter without incident?
The answer lies not in Jerusalem but in Washington. By placing the issue of building in Jewish neighborhoods in East Jerusalem at the center of the peace process, President Obama has inadvertently challenged the Palestinians to do no less.
Astonishingly, Obama is repeating the key tactical mistake of his failed efforts to restart Middle East peace talks over the last year. Though Obama's insistence on a settlement freeze to help restart negotiations was legitimate, he went a step too far by including building in East Jerusalem. Every Israeli government over the last four decades has built in the Jewish neighborhoods of East Jerusalem; no government, let alone one headed by the Likud, could possibly agree to a freeze there. Obama made resumption of negotiations hostage to a demand that could not be met. The result was that Palestinian leaders were forced to adjust their demands accordingly.
Obama is directly responsible for one of the most absurd turns in the history of Middle East negotiations. Though Palestinian leaders negotiated with Israeli governments that built extensively in the West Bank, they now refused to sit down with the first Israeli government to actually agree to a suspension of building. Obama's demand for a building freeze in Jerusalem led to a freeze in negotiations.

Internet explorer 9 - Microsoft's answers

2010-03-17T10:43:00.000-07:00

“HTML5 will enable a new class of applications,” says Dean Hachamovitch, Microsoft's Internet Explorer general manager, speaking to the press at the company's Mix10 conference in Las Vegas.

But exactly what parts of HTML5 will the company support? And what will happen when changes are made as the standard evolves? Hachamovitch tends to avoid straight answers, but still gave some insight into the company’s approach.

“When you release a platform you make a promise to developers that the code that they wrote will continue to run,” he says. “The only time you’re allowed to break that promise is a trust issue: privacy, security, safety.”

So how do you change behavior when the specification is amended? “One thing you notice when you run the IE9 platform preview is that there are all these modes listed there. Those modes are there because there are sites built expecting the promise."

Hachamovitch plays a game with the press when he is quizzed about specific HTML5 features that are not in the current IE9 preview. What about the Canvas element? “All the graphics that run in IE9 are GPU-powered, they are hardware accelerated. We said there’ll be updates to the preview and we’ll see what else is coming in the next preview.” So that’s a maybe.

How about SMIL, the animation standard that works in conjunction with SVG (which is supported)? “There’s a lot of overlap and a lot of redundancy with CSS3 animations and transitions,” he says. “There’s a lot of discussion in the SVG working group ... developers want to have one consistent set of patterns that they reuse. The feedback I’ve seen is that CSS3 is a more dominant pattern, and the SMIL stuff less so.” In other words, probably not.

What about video codecs, a contentious issue which has left the Video tag without any officially standardized codec? “For IE9, the demonstration that we gave involved the H.264 codec, which is a great industry standard for video, and we will support the H.264 codec.” says Hachamovitch. Other codecs, like the open source Ogg Theora? He says nothing, but the signs are not good. He even adds, “If I made a list of all the things for the HTML5 spec to do next, it’s not clear that the HTML5 video codec would be near the top.”

The IE9 preview does a better job with the Acid3 standards test than earlier versions, but at 55 per cent, it remains poor, considering that some other browsers pass completely. Is 100 per cent a goal? Hachamovitch is defensive.

“The Acid3 test is something that some folks use as a proxy for standards support. It’s 100 tests. It exercises about a dozen different technologies, some of which are under construction, some of which are less under construction. The most important thing: as IE9 supports more of the markup that developers actually use, the score will continue to go up, as a side effect.”

He positions Microsoft as pragmatic. “The end, that we’re all trying to get to, is that developers can use the same markup everywhere. There are a variety of means of getting there. I talked about using data to find what developers are actually using to make that work.”

One of the puzzles of HTML is the tension between browser makers dreaming up features that later may get standardized, and standards committees pumping out specifications for browser makers to implement. In the worst case you get something like Netscape’s LAYER tag, introduced in 1997 but which never became part of the W3C standard. Has the world changed since then?

“You could say that the world hasn’t changed. There are a variety of browser vendors that have gone ahead and done stuff and said: ‘Well, we’ve done this, here you go.’” says Hachamovitch. “On the other hand I’ll say that the world has changed, because our approach is to work much more closely with these standards guys, in order to minimize surprises and maximize interoperability.”

And no, Windows XP will not be supported by IE9. “Building a modern browser requires a modern operating system,” he says. “There are facilities in Windows Vista and Windows 7 around security, for example the integrity-level work that gave us protected mode. There are performance improvements, there is graphics infrastructure to take advantage of the GPU, that doesn’t exist in previous operating systems.”

What this means is that Internet Explorer will not deliver on the “same markup everywhere” dream - at least until XP is obsolete. Bearing in mind that some new machines still ship with Windows XP today, developers face a long wait.

Another question that Hachamovitch is frequently asked concerns Silverlight. Does the overlap between HTML5 and Silverlight, for features such as video and animation, imply that Microsoft might eventually move away from the plug-in approach?

“Every browser has some moral equivalent to ActiveX, a set of binary APIs that enable other code to run. To me that’s part of building a browser, you accept that there is a need for plug-ins,” he says. “Developers choose what technology to use. Developers who want to use the exact same markup across browsers and devices, choose to use a plug-in today.”

The truth is that even if IE9 proves to be an excellent platform for HTML5 applications, a plug-in like Silverlight will solve deployment problems because it spans multiple browsers and runs on Windows XP. Another factor is that Microsoft’s tooling in Visual Studio is geared towards Silverlight rather than HTML5. If there is a move away from plug-ins for rich internet applications, it will not be a speedy one on Microsoft’s platform.

Health-care bill is not yet a law

2010-03-17T10:38:00.000-07:00

Even as House Democrats search for the votes to send the bill to President Obama, dozens of Republican lawmakers and candidates have signed a pledge to back an effort to repeal the bill, should the GOP take control of either house of Congress after this fall's elections.

Started by the conservative activist group Club for Growth, the "Repeal It" movement first won the backing in January of some of the most conservative Republicans in Congress, such as "tea party" favorite Sen. Jim DeMint (R-S.C.). It has since expanded to include some of the party's Senate candidates in liberal-leaning states such as New Hampshire and Illinois.

Congressional Republicans are currently battling the Democrats over the House procedures they could use to pass the health-care bill. But they are promising this fall to continue the spirited debate over the substance of the bill that has dominated the last year on Capitol Hill. And the repeal will likely be a key issue, even as lawmakers on both sides acknowledge any repeal would be highly unlikely as long as President Obama remains in office, as he could veto any such legislation.

While the GOP still awaits the outcome of competitive primaries in many states to pick its candidates, all of the major Senate hopefuls in Kentucky, Nevada, Kansas and Missouri have pledged "sponsor and support legislation to repeal any federal health care-takeover passed in 2010, and replace it with real reforms that lower health care costs without growing government."

Republican leaders have played down the largely grassroots pledge, saying they want to focus on making sure the health-care reform bill is stopped from passing. But Michele Bachmann (R-Minn.), a favorite of the tea party movement, said "this would be smart politically and it's the right thing to do."

Some Democrats view this development with glee. They say the health-care bill will become more popular as soon as it's signed, particularly since some of the provisions most favored by the public start this year, such as allowing young adults to stay covered by their parents' health-care plans up to age 26. Like many other parts of the legislation, that provision would become effective six months after the law is signed -- right around election time if the overall bill passes this week.

The Democratic Senatorial Campaign Committee is already calling on its candidates to demand their GOP opponents take a stand on the pledge. Asked about the GOP idea, David Axelrod, a senior White House adviser, said Sunday, "Let's have that fight." He added of GOP threats to call for the law's repeal: "Make my day."

And other Democrats say it's very difficult to run on a platform of taking away new rights for Americans.

"When it comes to health care and insurance, once reform passes, the tangible benefits Americans will realize will trump the fear-mongering rhetoric opponents are stoking today," Obama pollster Joel Benenson wrote in a recent piece in The Post. "And when that reality kicks in, the political burden will shift... there is every reason to believe that for Republicans, the negative consequences will be their own."

In what has become a intra-party pollster battle, other Democrats dispute the idea that the bill will help the party in the fall. Pollsters Patrick H. Caddell and Douglas E. Schoen have written Democrats "will be punished severely at the polls" unless they turn around the current negative perceptions of the health-care bill.

Republicans say the bill won't be that popular by November, because the public has already soured on the bill and the modest changes it makes by November won't change the overall perception of it.

"Democrats think by passing the bill they'll be able to get it behind them and change the subject to something else, like jobs," said Senator John Cornyn (R-Tex.), head of the National Republican Senatorial Committee. "But this will do the opposite. This will make sure health care is the number one issue that the election is won or lost on in November."

But some analysts say a debate over dumping the health care bill or keeping it may not affect voters who do not already have strong views on the reform effort, if only because its effects may not be felt by November.

"Republicans have been saying this is the end of America as we know it and it will bring socialism," said Norman Ornstein, a congressional scholar at the American Enterprise Institute. "If it passes and not much happens, it's not as if there's going to be a huge backfire [on the Republicans], but in the overall argument they have not done themselves much political good."

Schiff Nutrition International announced a special cash dividend.

2010-03-17T10:36:00.001-07:00

Investors were swallowing up shares of Schiff Nutrition International Wednesday after the company beat The Street in its third quarter and announced a special cash dividend.

Showing confidence in its ability to generate cash flow, the Salt Lake City-based manufacturer of branded and private-label vitamins said its board of directors approved a 50 cent per share dividend, payable on Apr. 14 to shareholders on record as of Mar. 31. Anxious to take advantage, investors clamored for the stock, sending shares up 14.3%, or $1.30, to $10.40 in Wednesday morning trading. Shares of Schiff Nutrition International have more than doubled in the past year.

According to B. Riley analyst Ian Corydon, Schiff is sitting on roughly $59 million in cash and has been looking to acquire other branded vitamin makers. Corydon tells Forbes that "Schiff is looking for companies with niche products to add into their distribution." But unable to find suitable targets so far, the firm's board decided to share some of the wealth with investors through the special dividend.

Corydon says that MegaRed, Schiff's Omega-3 krill oil intended to support cardiovascular health, has been a big growth driver for the company. After getting sales started in Costco a year ago, Corydon notes the product is now being sold in Walgreens as well and "[Schiff] is gearing up to launch MegaRed in Wal-Mart soon."

For its third quarter Schiff earned $5.7 million, or 20 cents per share, up from $3.6 million, or 13 cents per share in the year-ago period. Sales for the quarter ended Feb. 28 climbed to $53.3 million, up from just under $50 million in the third quarter of 2009. Those figures beat the estimates of analysts polled by Thomson Reuters, who predicted earnings of 14 cents per share on sales of $51.4 million.

World Bank Urges China to Cool Economy

2010-03-17T10:32:00.000-07:00

The World Bank on Wednesday urged China's government to take more measures to cool its economy and head off inflation, as the bank expects the country's economic growth to accelerate to 9.5% this year.

In its quarterly report on China's economy, the World Bank raised its forecast for China's growth this year from the 8.7% increase the bank projected in November and suggested Beijing use interest rate rises and a stronger yuan to avoid inflation and the formation of asset bubbles in the domestic property market.

Beijing has been gradually exiting the stimulus measures put in place during the financial.

BLOCKBUSTER BANKRUPCY?

2010-03-17T10:21:00.000-07:00

Blockbuster Inc. (BBI) again warned it may have to file for bankruptcy protection as the movie-rental giant continues to lose money.

In its annual report filed Tuesday, Blockbuster said its declining sales and cash flow, coupled with increasingly competitive industry conditions, "raise substantial doubt about our ability to continue as a going concern." Blockbuster provided similar warnings nearly a year ago before it was able to refinance its long-term debt in the fall.

Nonetheless, the latest warning reminds investors of the serious challenges that the company faces.

Blockbuster is scrambling to expand in new distribution channels as rentals and sales at its 6,500 stores worldwide continue to decline amid intense competition from by-mail movie-rental services such as Netflix Inc. (NFLX) and rental kiosks such as those operated by Coinstar Inc.'s (CSTR) Redbox unit.

As of Jan. 3, Blockbuster said its total liabilities were $314.3 million more than its total assets.

Blockbuster shares fell 29% to 28 cents in recent trading. Blockbuster's 9% notes due 2012 are down 2.9 points to 22 cents on the dollar in very active trade Wednesday, according to MarketAxess.

Blockbuster has its own brand of by-mail service and kiosks, owned and operated by NCR Corp. (NCR), and it has worked with TiVo and other electronics makers to boost its digital-download offerings. But those businesses so far haven't taken off quickly enough to offset the declining rentals and sales at its stores.

Indeed, while Blockbuster's filing Tuesday said NCR expected to have 10,000 kiosks under the Blockbuster Express brand name by mid year, NCR has about 4,000, some of which are operating under kiosk brands NCR purchased last year. And an NCR spokesman called "inaccurate" Blockbuster's characterization, reiterating that NCR expects to have as many as 10,000 kiosks by year end, and some will not be under the Blockbuster name.

With its growth efforts constrained by debt and declining cash flow, Blockbuster is closing hundreds of underperforming stores, including 500 to 545 this year, and has outlined $200 million in fresh cost cuts tied to staffing and advertising spending. Since last year, it has pursued options for overseas assets, selling its business in Ireland in August for up to $45 million in cash, but it so far has been unable to close deals on other divestitures.

Blockbuster said Tuesday that it also seeks to boost its balance sheet, including modifying terms of its senior notes and the possible swap of senior subordinated debt with Class A common stock. The exchange could be implemented in late second quarter or early third quarter, but some of potential moves may require the company to file a pre-packaged or other filing under Chapter 11 bankruptcy-protection laws, Blockbuster said.

"It may not be possible to turn Blockbuster's business around," Gimme Credit analyst Kim Noland said. "While its high-yield issuance last fall appeared to buy it some time, its recent negative revision in guidance and the inroads into its business by competitors bode very ill for its long term health."

Noland said Blockbuster isn't yet in a liquidity crunch, but it could be if the poor results of the fourth quarter are repeated.

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2010-02-25T01:59:00.000-08:00

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Gold run set for breather as rate hikes eyed

2010-02-10T11:00:00.000-08:00

While fears over the stability of paper currencies and inflation may keep gold high, it will struggle to maintain the soaring investment flows that took it to an all-time peak of $1,226.10 an ounce in December, analysts say.

In the short term, gold's underlying fundamentals look fragile as jewelry demand languishes and miners lift supply. Spot prices had retreated from their December highs to around $1,076.50 an ounce by early afternoon on Wednesday.

"We see a number of headwinds for investors in gold, most notably potential increases in rates," said RBS Global Banking & Markets analyst Daniel Major. "The opportunity cost of investing in commodities is going to be important."

Gold sinks as Greece, Bernanke lift dollar

2010-02-10T10:57:00.000-08:00

Gold futures sank on Wednesday as the dollar regained some safe-haven strength as European lawmakers delayed a decision to address Greek's debt problems.

Gold for April delivery fell $2.70, or 0.3%, at $1,074.50 an ounce in electronic trade in New York.

On Tuesday, gold rallied as talk of a German plan to rescue Greece led stocks to soar, removing safe-haven demand for the dollar and lifting commodities.

But the dollar gained some strength early Tuesday. The dollar index (INDEX:DXY) , which tracks the performance of the greenback against a basket of currencies, rose to 80.031 from 79.768 late in the prior session.

A meeting between the German finance minister, Wolfgang Schaeuble, and law makers, ended on Wednesday without any concrete package of Greek aid announced. Expectations remain for a package to be announced on Thursday.

Also helping lift the dollar, Federal Reserve Chairman Ben Bernanke said in written testimony that the Fed may raise the discount rate. While Bernanke clearly explained this would not be a monetary tightening, the speech still confirmed the Fed's plans to unwind its extraordinary liquidity-boosting measures.

News Hub: Fed to Tighten Credit, Raise Rates

Fed Chairman Ben Bernanke outlines a plan to pull back policies that have been propping up the economy. Dow Jones Newswires' Neal Lipschutz and WSJ's Sudeep Reddy join Kelsey Hubbard in the News Hub with more.

"The Fed is carefully laying the ground work to begin tightening policy, but is not expected to act for quite a while longer," said Michael Gregory, senior economist at BMO Capital Markets, in note.

The dollar also advanced even after the government reported the U.S. trade deficit widened to $40.2 billion in December from $36.4 billion the month before.

A weaker dollar tends to boost gold and metals as it makes them cheaper for holders of other currencies. Gold also loses its appeal as a hedge against weaker currencies.

For gold, the "technical situation remains bearish after its recent break down below previous support $1,075 an ounce," analysts at GoldCore wrote in a note. "However, there would appear to be strong support at the $1,000 to $1,030-ounce price level which was the previous strong resistance."

Among other metals Wednesday, copper for March fell 2 cents, or 0.6%, to $2.97 a pound. Silver for March delivery dropped 18 cents, or 1.2%, to $15.26 an ounce.

March palladium dropped $4.90, or 1.2%, to $411.70 an ounce, while platinum for April gained $5.30, or 0.4%, to $1,507.70 an ounce.

OPEC Worries U.S. Economic Uncertainty Will Hurt Oil Demand

2010-02-10T10:55:00.000-08:00

Uncertainty about the pace of the U.S. recovery is putting oil-demand growth at risk for the world's largest crude consumer and is weighing on global consumption, the Organization of Petroleum Exporting Countries said Wednesday in its monthly report.

The warning, adding to OPEC's concerns about European countries such as Greece, suggests the group is likely to stick to its existing production quotas when it meets March 17 in Vienna.

"The 1% forecast growth in U.S. oil demand this year is facing a set of obstacles that could prevent it from materializing," the report said. "If this happens, then the U.S. oil demand might come flat if not negative for the total year," OPEC added. The U.S., which uses close to a quarter of the crude oil consumed worldwide each day, "is a key country to world oil-demand changes," the report said.

The organization also warned of "heightened fiscal uncertainties in the euro zone," with "the mounting public debt of some of its member countries, particularly Greece." Greece's budget deficit and debt load have put its sovereign bonds at risk of default, triggering credit-market jitters world-wide.

Fellow European Union partners are now considering a bailout. In the major industrialized countries, "the recovery is far from self-sustaining and remains largely dependent on continued government support," OPEC said. The organization, which has come under pressure in the past to increase production, may have a vested interest to paint a bleaker picture than consumer nations.

But its concerns follow last week's data from the U.S. Department of Energy that unexpectedly showed a weekly buildup in crude inventories as refineries continue to struggle with not enough demand. Despite its concerns, OPEC said Wednesday it was keeping its world oil-demand forecast unchanged for 2010, hoping that rising Chinese consumption will make up for any weakness in Western economies.

Global demand is still expected to average 85.1 million barrels a day this year, growing by 0.81 million barrels a day from last year. That would suggest a downgrade in demand growth of 10,000 barrels a day. In its previous report, OPEC estimated demand growth at 0.82 million barrels a day. But the expected rise in global consumption comes as OPEC members may already be outpacing demand growth.

While OPEC sees demand for its own oil at 28.8 million barrels a day on average this year, the group's production rose to 29.2 million barrels a day in January, up 63,200 barrels a day. The statistics, based on secondary sources, show compliance with production cuts agreed in 2008 has now fallen to 53.5% from 80% in March last year.

Higher production in Angola and Venezuela more than offset a drop in Nigeria's output, which fell by 124,000 barrels a day in January. There, militants in the Niger Delta restarted attacks on oil installations last month, shutting down some production for Royal Dutch Shell PLC and Chevron Corp.

Taiwan Will Allow LCD, Chip Investments in China

2010-02-10T10:52:00.000-08:00

Taiwan will end a ban on domestic companies building liquid-crystal-display factories in China and allow chipmakers to invest in their Chinese peers, as long as they spend more locally and keep their best technology at home.

Flat-panel and chip makers will be allowed to invest in manufacturing facilities in China provided they already use more-advanced technology in Taiwan, Minister of Economic Affairs Shih Yen-Shiang said at a press conference today in Taipei. The new rules will be effective “within days,” he said.

Easing of rules would allow AU Optronics Corp., Chi Mei Optoelectronics Corp. and Innolux Display Corp. to compete with South Korea’s Samsung Electronics Co. and LG Display Co. by manufacturing panels closer to their customers in China. Taiwan Semiconductor Manufacturing Co., the largest custom-chip maker, and AU plan to take advantage of the new rules, they said today.

“The growth driver for the LCD industry is televisions, so the key will be larger factories,” said Richard Ko, who rates AU “outperform” at Jih Sun Securities Ltd. in Taipei. “If the LCD industry is healthy this year then it will be beneficial to those who go first, but if the industry isn’t as healthy as expected, first movers may face bigger risks in building more capacity in China.”

Innolux added 0.6 percent to close at NT$50.60 in Taipei, AU advanced 0.3 percent to NT$36.30 and Chi Mei was unchanged at NT$24.05. The benchmark Taiex index rose 1.1 percent.

Panel makers can start a combined total of three LCD factories of sixth generation or above in China, as long as the applicant already has a plant in Taiwan that’s at least one generation ahead, the ministry said in a statement. There’ll be no restrictions on facilities below sixth generation, it said.

Chipmakers can apply to invest in or build factories in China that are two generations less advanced than those already on the island, it said.

Benefit Taiwanese Companies

Taiwan Semiconductor, which currently operates a plant near Shanghai that produces chips on 8-inch wafers, plans to upgrade the facility to 0.13 micron technology from 0.18 micron, JH Tzeng, spokesman for the Hsinchu-based company, said by phone after the announcement. Taiwan Semiconductor operates more- advanced 12-inch factories in Taiwan.

Chipmakers remain limited to building plants in China that can make 8-inch wafers or less, the ministry said.

The new rules will pave the way for Taiwan Semiconductor to use technology as advanced as 90 nanometers in China, Woody Duh director general of the economic ministry’s industrial development bureau said. Taiwan companies were previously restricted to 180 nanometers, or 0.18 micron, the ministry said.

AU, based in Hsinchu and currently Taiwan’s largest LCD maker, operates a 7.5-generation factory in Taichung, Taiwan and is building an 8.5-generation plant that can make panels the size of a pool table. The later generations enable makers to supply larger screens more efficiently for use in televisions.

“The move will increase the competence of Taiwan panel industry,” AU said in a statement after the government’s announcement. The new rules will help shorten the company’s shipment cycle and facilitate on-site services in China.

Building Advanced Plants

Chi Mei, which plans to merge with Innolux next month to overtake AU in Taiwan, is also building an 8.5-generation plant in Kaohsiung, southern Taiwan.

“If Taiwan doesn’t invest in China, we may lag behind and lose our competitive advantage,” Taiwan Premier Wu Den-yih said Dec. 8.

Taiwan maintains restrictions on the value and type of investments it allows its companies to have in China, with advanced chip-making and the manufacture of ethylene among those currently banned, to prevent strategic technologies from migrating to the mainland.

China is Taiwan’s largest export market and regards the independently governed island as part of its territory, threatening to attack if it declares formal independence. The two sides split 60 years ago after Mao Zedong’s communists took control of China, forcing the Kuomintang to retreat to Taiwan.

Suwon, Korea-based Samsung, the world’s largest LCD maker, said Oct. 16 it will spend 2.6 trillion won ($2.2 billion) to build a 7.5-generation panel factory in China. Two days earlier, Seoul-based LG Display, the second-biggest, said it will form a $4 billion venture for an 8th-generation LCD plant in Guangzhou.

Honda adds vehicles to recall over air bags

2010-02-10T10:50:00.001-08:00

Honda said Tuesday that it is voluntarily adding 437,763 vehicles to a previously announced recall to fix drivers-side air bags in 2001 and 2002 model year vehicles, bringing the total number of affected vehicles to 947,913 worldwide.

The company said it will replace the air bag inflator in the cars because they can deploy with too much pressure, causing the inflator to rupture and injure or kill the driver. Honda said it is aware of 12 accidents related to the issue, including one that resulted in death with the others causing injuries.

The expanded recall by Japan’s No. 2 automaker includes 378,758 vehicles in the U.S., as well as 41,685 in Canada, 4,042 in Japan and 13,278 in other countries. That brings the total number of Honda vehicles recalled for the air bag issue to 826,424 in the U.S.

Models affected include the 2001 and 2002 Accord, Civic, Odyssey CR-V and some and some 2002 Acura TLs.

John Mendel, Honda’s executive vice president of Honda in America, said Tuesday evening that Honda informed NHTSA of its decision to expand the recall Tuesday and notified the Japanese government.

Mendel said Honda decided to hold a conference call with journalists Tuesday due to the increased scrutiny and interest in automotive safety caused by several recent Toyota recalls involving unintended acceleration on many of its models as well as brake problems on its popular Prius hybrid.

“There is certainly a heightened sensitivity right now with anything that has to do with recalls,” Mendel said.

Honda issued its first recall related to the air bag inflators in November 2008 for 3,940 copies of 2001 Accords and Civics in the U.S. That recall was based on three complaints dating back to February 2007.

In 2009, Honda received five more reports of shards and in June 2009 Honda expanded the recall to 443,727 Accords and Civics from the 2001 model year.

That move drew questions from the National Highway Traffic Safety Administration, which asked Honda in August 2009 why the expanded group of vehicles hadn't been part of the original recall. Honda said in September 2009 it and its supplier, Takata, had limited the recall based on their understanding of a problem with the air bag propellant.

The June recall was “expected to capture all affected vehicles,” Honda told NHTSA in September.

The public file does not contain any further requests for information from NHTSA about the problem.

Mendel said NHTSA’s inquiry remains pending. Still, Honda officials said its action today was not due to NHTSA's questions or pressure.

Honda said it is in the process of notifying all owners of affected vehicles and is encouraging the owners it notifies to take their vehicles to an authorized dealer so that the air bag can be replaced.

Bernanke lays out plan for tighter money

2010-02-10T10:46:00.000-08:00

Federal Reserve Chairman Ben Bernanke unveiled a blueprint Wednesday for pulling back the trillions of dollars the central bank has provided to prop up the nation's economy.

"These programs, which imposed no cost on the taxpayer, were a critical part of the government's efforts to stabilize the financial system and restart the flow of credit," Bernanke said in prepared testimony for a Capitol Hill hearing that was postponed due to snow. "As financial conditions have improved, the Federal Reserve has substantially phased out these lending programs."

But Bernanke also emphasized that the U.S. economy still needs the support of easy money policies. He said that "at some point" in the future the Fed will "need to tighten financial conditions" by raising short-term interest rates and reversing programs that pumped liquidity into the markets.

The markets have been waiting to hear an inkling of how the Fed plans to start raising rates and pulling back on the trillions the Fed has pumped into the financial system since it started teetering on the edge of collapse back in late 2008.

For the last 18 months, the Fed has bought mortgages, long-term Treasurys and the debt of mortgage finance firms Fannie Mae (FNM, Fortune 500) and Freddie Mac (FRE, Fortune 500).

Currently, the Fed holds $2.29 trillion on its balance sheets, up from $934 billion in September 2008, when the financial crisis really kicked into gear.

On Wednesday, Bernanke laid out a plan to sell some of those mortgages, Treasurys and debt, by offering what's called reverse repurchasing agreements. Under those agreements, the Fed sells its securities to a third party while agreeing to rebuy them at some point in the future.

The second way the Fed plans to soak up money is to sell banks and financial firms the equivalent of certificates of deposit. In this case, the Fed gets a chunk of the bank's reserves in exchange for paying interest at a steady rate. Dubbed a "term deposit facility," these deposits would be auctioned off and banks couldn't count their investment in the Fed as cash or reserves.

"Reverse repos and the deposit facility would together allow the Federal Reserve to drain hundreds of billions of dollars of reserves from the banking system quite quickly, should it choose to do so," Bernanke said.

Bernanke said he planned to start testing out such programs this spring.

But he added that the "firming" of exit strategy policy would start with an increase in the interest rate paid on reserves, adding that the Fed could always take a more "rapid exit," by increasing the rate paid on reserves if the economy needed it.

Bernanke was supposed to testify before the House Financial Services Committee about unwinding emergency Fed liquidity programs. The hearing fell victim to the snow that has blanketed the nation's capital over the past five days, and has yet to be rescheduled. Instead, the Fed released Bernanke's statement.

Two weeks ago, the Fed left interest rates unchanged at near zero percent, pointing to improvement in business spending but adding the recovery is likely to be "moderate" for some time.

But one member, Kansas City Fed President Thomas Hoenig, voted against the Fed's latest action, saying he thought economic conditions had improved enough so that low rates were "no longer warranted." He was the first dissenting vote among Fed policymakers since January 2009.

World's tallest tower closed a month after opening

2010-02-08T11:14:00.000-08:00

DUBAI, United Arab Emirates – The world's tallest skyscraper has unexpectedly closed to the public a month after its lavish opening, disappointing tourists headed for the observation deck and casting doubt over plans to welcome its first permanent occupants in the coming weeks.

Electrical problems are at least partly to blame for the closure of the Burj Khalifa's viewing platform — the only part of the half-mile high tower open yet. But a lack of information from the spire's owner left it unclear whether the rest of the largely empty building — including dozens of elevators meant to whisk visitors to the tower's more than 160 floors — was affected by the shutdown.

The indefinite closure, which began Sunday, comes as Dubai struggles to revive its international image as a cutting-edge Arab metropolis amid nagging questions about its financial health.

The Persian Gulf city-state had hoped the 2,717-foot (828-meter) Burj Khalifa would be a major tourist draw. Dubai has promoted itself by wowing visitors with over-the-top attractions such as the Burj, which juts like a silvery needle out of the desert and can be seen from miles around.

In recent weeks, thousands of tourists have lined up for the chance to buy tickets for viewing times often days in advance that cost more than $27 apiece. Now many of those would-be visitors, such as Wayne Boyes, a tourist from near Manchester, England, must get back in line for refunds.

"It's just very disappointing," said Boyes, 40, who showed up at the Burj's entrance Monday with a ticket for an afternoon time slot only to be told the viewing platform was closed. "The tower was one of my main reasons for coming here," he said.

The precise cause of the $1.5 billion Dubai skyscraper's temporary shutdown remained unclear.

In a brief statement responding to questions, building owner Emaar Properties blamed the closure on "unexpected high traffic," but then suggested that electrical problems were also at fault.

"Technical issues with the power supply are being worked on by the main and subcontractors and the public will be informed upon completion," the company said, adding that it is "committed to the highest quality standards at Burj Khalifa."

Despite repeated requests, a spokeswoman for Emaar was unable to provide further details or rule out the possibility of foul play. Greg Sang, Emaar's director of projects and the man charged with coordinating the tower's construction, could not be reached. Construction workers at the base of the tower said they were unaware of any problems.

Power was reaching some parts of the building. Strobe lights warning aircraft flashed and a handful of floors were illuminated after nightfall.

Emaar did not say when the observation deck would reopen. Ticket sales agents were accepting bookings starting on Valentine's Day this Sunday, though one reached by The Associated Press could not confirm the building would reopen then.

Tourists affected by the closure are being offered the chance to rebook or receive refunds.

The shutdown comes at a sensitive time for Dubai. The city-state is facing a slump in tourism — which accounts for nearly a fifth of the local economy — while fending off negative publicity caused by more than $80 billion in debt it is struggling to repay.

Ervin Hladnik-Milharcic, 55, a Slovenian writer planning to visit the city for the first time this month, said he hoped the Burj would reopen soon.

"It was the one thing I really wanted to see," he said. "The tower was projected as a metaphor for Dubai. So the metaphor should work. There are no excuses."

Dubai opened the skyscraper on Jan. 4 in a blaze of fireworks televised around the world. The building had been known as the Burj Dubai during more than half a decade of construction, but the name was suddenly changed on opening night to honor the ruler of neighboring Abu Dhabi.

Dubai and Abu Dhabi are two of seven small sheikdoms that comprise the United Arab Emirates. Abu Dhabi hosts the federation's capital and holds most of the country's vast oil reserves. It has provided Dubai with $20 billion in emergency cash to help cover its debts.

Questions were raised about the building's readiness in the months leading up to the January opening.

The opening date had originally been expected in September, but was then pushed back until sometime before the end of 2009. The eventual opening date just after New Year's was meant to coincide with the anniversary of the Dubai ruler's ascent to power.

There were signs even that target was ambitious. The final metal and glass panels cladding the building's exterior were installed only in late September. Early visitors to the observation deck had to peer through floor-to-ceiling windows caked with dust — a sign that cleaning crews had not yet had a chance to scrub them clean.

Work is still ongoing on many of the building's other floors, including those that will house the first hotel designed by Giorgio Armani that is due to open in March. The building's base remains largely a construction zone, with entrance restricted to the viewing platform lobby in an adjacent shopping mall.

The first of some 12,000 residential tenants and office workers are supposed to move in to the building this month.

The Burj Khalifa boasts more than 160 stories. The exact number is not known.

The observation deck, which is mostly enclosed but includes an outdoor terrace bordered by guard rails, is located about two-thirds of the way up on the 124th floor. Adult tickets bought in advance cost 100 dirhams, or about $27. Visitors wanting to enter immediately can jump to the front of the line by paying 400 dirhams — about $110 apiece.

How To Beef Up Your Resume

2010-02-08T10:51:00.001-08:00

These are desperate times for many job seekers. But you can avoid desperate-looking and time-wasting measures when it comes to putting together and marketing your resume.

There are more than six job seekers for every job opening, based on Bureau of Labor Statistics data from November. And the first mistake many of them make is sending out resumes in bulk without giving much thought to whether they are a good fit for a job.

"Everybody's desperate so they're wallpapering resumes everywhere," said Susan Whitcomb, a Fresno, Calif., author and president of Career Coach Academy. "That's not effective because it just screams, 'I'm desperate! I need a job!' "

An effective job search does not entail "sitting at your computer all day sending off your resume into the hinterland," said Andrea Kay, a career consultant and author in Cincinnati. Only about 15% of your time should be spent responding to job ads online, she said.

More important, focus on companies that are a good fit for you--and the people to contact at those companies. "Your goal is to get yourself sitting in front of or having phone conversations with live people," Kay said. For example, try to find people you know who can introduce you to someone at the company.

Or simply contact the firm yourself. "If you're well-qualified to work at Company XYZ, then make yourself known at that company," said career coach and author Wendy Enelow of Coleman Falls, Va. "Forward your resume not to the HR department but to the person you would be reporting to." Try using regular mail rather than email to stand out.

Remember, some job openings are never posted. And even in tough economic times, "there is always some churn at companies," Enelow said.


 Seen And Heard

Make your resume resonate with potential employers. "When I help somebody do a resume," Kay said, "the first thing I ask them is, 'How do you want to be seen?' Your resume is a tool that positions you the way you want to be seen."

That involves telling the company why you're a great candidate.

"You want [them to see you] as a problem solver who can make them more money, make their company more efficient," she said.

Another tip: Write to appeal to machines and humans. Keywords are important to get past electronic resume scanners, but you've got to pass muster with human scanners, too. So it's important to engage early on. That's one reason so many resumes start with profiles or summaries, said Donald Asher, a career expert in Gerlach, Nev.

"You get a chance in the first 10 lines to put the stuff that's important," he said.

That profile or summary says, "This is the value I bring to your company--the value, key skills, competencies, talents and achievements," Enelow said.

Your cover letter, meanwhile, should be short and to the point. Be clear about which job you want. Then, "Here's my resume, this is why I'm such a valuable candidate and I'm going to follow up with you about the job," Enelow said.


 Do's And Don'ts

Here are some other techniques to keep your resume focused and help it stand out.

Forget your objective. "In the old days, [resumes] started with an objective that said something like, 'Looking for a challenging position with a growing company that can allow me strong career growth,'" said Rick Saia, a certified professional resume writer with Pongo Resume, in Northborough, Mass. These days, "the company is really not as interested in what they can do for you as in what you can do for them."

Tap online media. If you don't post a resume or profile online-- on, say, LinkedIn, VisualCV, or even your own site--you risk looking less "with it." "Having a resume online is just one more way to position yourself as an A candidate," Whitcomb said.

Detail achievements, not duties. Resumes should answer three questions, Saia said: "How did I make money for my employer, how did I save money for my employer, and how did I make a process more efficient so that it made things run more smoothly."

Less is more. Resume standards wax and wane. "Ten years ago, resumes were longer," Enelow said. Today, she said, while there are no firm rules--an experienced executive often has a two-page resume while a recent college graduate's is often one page--if you go too long, you risk boring your audience.

Customize it. In their resumes, job seekers often fail to align their qualifications with each employer's distinct needs, Saia said. As much as possible, show how your expertise fits what a particular company is seeking.

Avoid jargon and cliches. "People use lofty language, they use jargon," Kay said.

Some phrases to avoid: win-win, pursuant to, drive results, actionable, change agent, maximum value.

Better language: compassionate and committed professional, trustworthy, entrepreneurial, highly organized, a talent for building goodwill, diplomatic, a reputation for being resourceful in handling emergencies and deadlines.

Kay said people are "afraid to be interesting, they're afraid to be personal." She suggested job seekers ask themselves: "How would other people describe me?" Another option: Cull language from performance reviews.

Don't get too familiar. "Employers constantly tell me they get emails from individuals that are way too flip, too informal," Kay said. Don't start your e-mail with "Hey" or "Hi there."

Forget the flourishes. Keep your resume's format simple. Use just one font type. Paragraphs should be no more than four to six lines. Limit bullet points to four or five (break out a fresh section if there's more you need to say). Don't overuse boldface.

Typos. It's Resume Writing 101, but career experts said job seekers continue to submit resumes with typos. Read your resume backward, read each word, read it out loud. Have others proof it for you. Don't rely on a computer's spell-check function.

Nuclear giant Areva buys solar company Ausra

2010-02-08T10:46:00.000-08:00

The world's largest nuclear plant builder, Areva SA, is entering the solar power industry, with the company announcing on Monday its acquisition of U.S.-based solar thermal player Ausra.

Areva did not disclose financial details about the deal to purchase the Silicon Valley company, which had raised $130 million in venture capital from high-profile firms including Kleiner Perkins and Khosla Ventures.

The solar power industry has started to consolidate after struggling in 2009 with a dearth of financing for new projects and a steep fall in prices. Other solar thermal players include Spain's Abengoa SA and privately held U.S.-based BrightSource Energy Inc.

The deal marks Areva's first foray into solar energy and the nuclear giant hopes to have the leading market share in concentrated solar power by 2012, an Areva executive told Reuters in an interview.

"This market is set to have 20 gigawatts by the year 2020. Areva has an objective to be a world leader in solar energy," said Anil Srivastava, Areva's senior executive vice president of its renewable energies business group.

The executive said Areva chose solar thermal technology -- which uses the sun's heat to create steam to run turbines for electricity -- over other solar power options because it is "the closest" to nuclear plants.

Areva plans to run its solar business out of Ausra's headquarters in Mountain View, California, and grow the existing workforce of 70 people to 120 people worldwide.

The group plans to build concentrated solar power plants for utilities, independent power producers and industrial companies in the southwestern United States, Middle East, Europe, South Africa and ultimately other parts of the world.

Ausra Chief Executive Robert Fishman said in an interview that costs run between $3 and $3.50 per watt to build solar projects with its technology.

The acquisition is expected to close in the next few months, subject to regulatory approval.

Iran Orders Boost in Uranium Enrichment

2010-02-08T09:51:00.001-08:00

Iranian President Mahmoud Ahmadinejad, wears eye protection goggles as he visits an exhibition of Iran's laser science, in Tehran, Iran, 7 Feb 2010

Iran says it has informed the U.N. nuclear agency it plans to further enrich its uranium in defiance of international demands that it stop. Iran's processing program would likely need reconfiguring first, prompting speculation the announcement may have more to do with nuclear negotiations with the West than imminent enrichment.

Iran's envoy to the International Atomic Energy Agency says he gave the U.N. watchdog notice of Tehran's plans Monday, in an apparent formal rejection of a U.N. plan to have the uranium enriched abroad.

The move follows an announcement by Iran's nuclear chief, Ali Akbar Salehi, that Iran will enrich some of its current stockpile to 20 percent, starting Tuesday.

Speaking to Iran's Arabic al-Alam television, Salehi said Iran would start the process in the presence of inspectors and observers from the International Atomic Energy Agency.

President Mahmoud Ahmedinejad had ordered the further enrichment in a televised address, one of the many varying, unofficial responses Iranian officials have given to the U.N. plan.

The IAEA wants Iran to send most of its uranium stockpile to Russia and France to boost it to 20 percent and turn it into fuel rods. Such rods would be very difficult to enrich even more, for example to the 90 percent needed to make nuclear weapons.

If Iran can manage to push the uranium to 20 percent on its own, and it is not clear that it can, Western scientists say it could also likely enrich it to weapons grade.

Iran denies its nuclear program has a military component, and says the enrichment is for fuel for a Tehran reactor that makes medical isotopes. It worries it would not get the uranium back if it sends it overseas.

Nuclear chief Salehi said Iran would readily stop the enrichment if the West were to give it the fuel.

Salehi told al-Alam the offer is still open and that once Iran receives the fuel, it will stop the enrichment.

Western countries, in particular the United States, say the original deal was not meant to be modified and are pushing for further U.N. sanctions.

U.S. Defense Secretary Robert Gates says there is still time for sanctions to work.

Meanwhile, with tensions over the standoff rising, Iranian Defense Minister Ahmad Vahidi said Iran has begun production of two types of unmanned aircraft with surveillance and attack capabilities.

Vahidi said the drones can carry out assaults with high precision.

Iranian Air Force commander Hesmatollah Kassiri was quoted as saying Iran is working on a new air-defense system. The commander said Russia has been slow to deliver its S-300 missiles as agreed, but Iran's domestically-built system will be as powerful or even stronger.

Iran frequently announces major advances in its military, nuclear and space programs. The latest advances have not been independently confirmed.

Becton Dickinson Recalls Millions Of IV Products

2010-02-08T09:45:00.000-08:00

Becton Dickinson & Co. (BDX) has voluntarily recalled some 5.7 million products related to catheters and administering fluids intravenously, saying their use may cause serious injury or death.

The medical-technology company said it doesn't expect costs anticipated with the recall or the impact on its business to be "material."

Becton disclosed Monday that in October it recalled some lots of its Q-Syte Luer Access Devices. It added Monday that the recall has been expanded to NexivaT Closed IV Catheter systems, which include Q-Syte. Use of the products could cause an air embolism or leakage of blood or therapy that could result in serious injury or death, the company said. The company has notified customers worldwide via letter.

The Q-Syte needle-less connector is intended for use with infusion therapy products for the administration of fluids into the intravenous system. The Nexiva closed-catheter system includes two Q-Syte devices within its package that could be subject to the Q-Syte problem.

About 2.8 million Q-Syte devices and 2.9 million Nexiva units have been recalled. Affected products were distributed from November 2008 to November 2009. The company says the root cause has been corrected and preventive measures have been implemented.

Becton last month reported its fiscal first-quarter income rose 4% on higher-than-expected sales. Its shares were down 53 cents to $74.49 in recent trading.

Fed to lay out interest rate hike plan this week

2010-02-08T09:43:00.000-08:00

Federal Reserve Chairman Ben Bernanke is expected to lay out a plan for raising interest rates as the economy picks up steam in the next several months, The Wall Street Journal reported on Monday. The initial focus by the U.S. central bank will be the relatively new interest rate on excess reserves, a tool given to the Fed by Congress in 2008. The interest rate on excess reserves amounts to payments the Fed pays to banks on money left on reserve with it. Currently that rate is 0.25%. The Fed isn't expected to raise any rates for several months.

HOW TO PLACE THE BABY SEAT THE CAR

2010-02-06T16:41:00.000-08:00

One of the most important jobs you have as a parent is keeping your child safe when riding in a vehicle. Each year thousands of young children are killed or injured in car crashes. Proper use of car safety seats helps keep children safe. But with so many different car safety seats on the market, it’s no wonder many parents find this overwhelming.

The type of seat your child needs depends on several things including your child’s size and the type of vehicle you have. To be sure your child is using the most appropriate seat, read on.

It's really important to fix it as you can see in the picture, look at it with attention: 3 passages of the safe belt in the arms, 1 in the shoulder.

WHAT IS THE GINI INDEX

2010-02-02T04:55:00.000-08:00

The Gini coefficient is a measure of statistical dispersion developed by the Italian statistician Corrado Gini and published in his 1912 paper "Variability and Mutability" (Italian: Variabilità e mutabilità). It is commonly used as a measure of inequality of income or wealth. It has, however, also found application in the study of inequalities in disciplines as diverse as health science, ecology, and chemistry.

The Gini coefficient is usually defined mathematically based on the Lorenz curve. It can be thought of as the ratio of the area that lies between the line of equality and the Lorenz curve (marked 'A' in the diagram) over the total area under the line of equality (marked 'A' and 'B' in the diagram); i.e., G=A/(A+B).

The Gini coefficient can range from 0 to 1; it is sometimes multiplied by 100 to range between 0 and 100. A low Gini coefficient indicates a more equal distribution, with 0 corresponding to complete equality, while higher Gini coefficients indicate more unequal distribution, with 1 corresponding to complete inequality. To be validly computed, no negative goods can be distributed. Thus, if the Gini coefficient is being used to describe household income inequality, then no household can have a negative income. When used as a measure of income inequality, the most unequal society will be one in which a single person receives 100% of the total income and the remaining people receive none (G=1); and the most equal society will be one in which every person receives the same percentage of the total income (G=0).

Some find it more intuitive (and it is mathematically equivalent) to think of the Gini coefficient as half of the Relative mean difference. The mean difference is the average absolute difference between two items selected randomly from a population, and the relative mean difference is the mean difference divided by the average, to normalize for scale. Worldwide, Gini coefficients for income range from approximately 0.247 (24.7) in Denmark to 0.707 (70.7) in Namibia although not every country has been assessed.

As a mathematical measure of inequality, the Gini coefficient does not necessarily entail any value judgement, i.e. the "rightness" or "wrongness" of a particular level of equality.

http://en.wikipedia.org/wiki/Gini_coefficient

GIANFERRANTE FARMHOUSE SICILY

2010-01-30T07:12:00.000-08:00

Explore the magic of Sicily, in the rocky surroundings of Mount Etna. Etna volcano is the highest active volcano of Europe. The best place in the Etna/catania area (very useful the international airport of Fontanarossa, very close, where you can find a vast range of car rentals, too) is the Gianferrante Farmhouse. Swimming pool, Tennis court, international and familiar ambiance in self-catering only. Telephone 00393280359535 (english/spanish/french spoken).

ANTIGUA & BARBUDA PROPERTIES

2010-01-11T15:16:00.000-08:00

Over recent years Antigua has become one of the favorite destinations in the Caribbean for people looking for second or retirement homes. Antigua offers a wide variety in villas and land for sale from managed resorts to individually built homes and vacant building plots. The worldwide economic downturn has also affected Antigua. After years of increasing sales and sales prices the market has slowed down since the fall of 2008 and prices have come down to levels which were seen a few years ago. The property market has not seen major disruption like in many other markets and there are hardly any distressed sales. Most property owners have a large equity share in their property. Prices were not inflated and were very reasonable compared to more developed islands like Barbados, Bahamas, St Martin and St Barths. The banking scene in Antigua is dominated by large canadian banks and smaller indigenous banks. Both have been very conservative in their lending and investment policies and remain in good shape. With the current reduced price levels, Antigua offers excellent opportunities for purchasers.

FLIGHTS TO ANTIGUA & BARBUDA

2010-01-10T14:07:00.000-08:00

Most visitors to Antigua arrive by air and a variety of airlines fly from the U.K. and U.S.. Virgin Atlantic is probably the most popular from the U.K., flying from London Gatwick as do a number of charter airlines. The main airline serving the U.S. from Antigua is American Airways which flies from Miami from where many other U.S. destinations can be accessed. Delta has direct flights to and from Atlanta. Several airlines depart from Antigua to serve other Caribbean islands.

Boeing Dreamliner Completes First Flight

2009-12-16T00:12:00.000-08:00

Boeing completed the long-delayed first test flight of its new 787 Dreamliner on Tuesday, heralding a new era of plastics-based aircraft that promise to save airlines millions of dollars in fuel costs.

The 3-hour flight, cut short by bad weather, brought relief to customers and investors who have watched Boeing postpone delivery of the new plane by more than two years due to production problems, but industry experts warned that the program still faces risks.

"It's the first positive milestone we've seen Boeing achieve on this program in a long time," said Macquarie analyst Robert Stallard. "But they're not out of the woods."

The 787's highly anticipated takeoff was witnessed by more than 12,000 Boeing employees, industry VIPs, airplane enthusiasts and reporters, eager to see the first flight of a commercial aircraft made primarily from carbon-based plastics and titanium.

The 186-feet-long (57 meters) aircraft, painted in Boeing's blue and white livery, took off at 10:27 a.m. local time from a freezing gray runway next to Boeing's plant about 30 miles north of Seattle. It landed 3 hours and six minutes later at Boeing Field, just south of Seattle.

The flight was meant to last five hours or more, but the two pilots were held back by low cloud and bad visibility, going no higher than 15,000 feet (4,572 meters) at a maximum speed of about 207 miles (333 kilometres) per hour.

News of the takeoff buzzed across the radio waves among commercial jets and air traffic controllers, according to chief pilot Mike Carriker.

"Everybody wanted to know if the Dreamliner was airborne, and it was really cool to say, 'You bet, we are airborne today'," said Carriker after the flight, to cheers from Boeing employees.

"Is it a relief? Yes. Was it great fun? Yes. Would I like to go and get another 80,000 pounds of gas and good weather and go again, you bet I would," added Carriker, although he said the next flight would not be for another week as more instruments are added to the test plane.

SHAPE OF THE FUTURE

Airlines like the concept of the twin-aisle, mid-sized plane that can carry about 250 people very long distances. They have ordered 840 of the aircraft, worth about $140 billion (86 billion pounds), since work began on the plane in 2004.

But production has been delayed five times in the past three years, and the first flight has been postponed six times, due to a shortage of bolts, faulty design and a two-month strike at its factory.

Rival Airbus, a unit of Europe's EADS, has been attracting buyers for its competing A350 plane, which will also be made primarily from carbon-composite materials.

Exactly how much profit Boeing can expect to make from the plane is uncertain. Analysts have said the company has invested more than $10 billion in the project, and will have to give some sort of compensation to customers for late planes. How late the planes will be and how they will perform will not be known until flight tests have been completed.

"It's a major step-off point to the ultimate goal which is certification and customer delivery. It's an important milestone but it's not the end goal," Clay Jones, chief executive of Rockwell Collins said at the Reuters Aerospace & Defence Summit in Washington.

Rockwell makes display systems, communications and surveillance systems and pilot controls systems for the 787.

Boeing's shares closed down 38 cents, or 0.7 percent, at $55.67 on the New York Stock Exchange. The company's shares have risen about 90 percent since March, outstripping the rebound in the Standard & Poor's 500 index.

ROUND-THE-CLOCK TESTS

The flight starts at least nine months of airborne tests on a fleet of six 787s running around the clock, which Boeing executives say will be like running a small airline.

The test flight program is designed to push the plane well beyond limits expected in ordinary commercial flights, practicing mid-air stalls, dives and steep banks, as well as seeking out extremes of heat and cold.

Boeing has said the first 787 should be delivered to Japan's All Nippon Airways in the fourth quarter of next year, more than two years after the original target of May 2008.

The plane has been beset by problems partly because of the new materials being used and extensive outsourcing. Early delays were due to shortages of parts and the difficulties of bringing together fuselage and wing structures from Japan, Italy and elsewhere in the United States, aggravated by a two-month strike last year.

The most recent delay occurred when Boeing needed to reinforce the side of the plane where the wing meets the fuselage.

The revolutionary use of carbon fibre and the problems of joining it to other materials mean there could still be snags.

"Just as they (Boeing) found hurdles on the way to first flight, they are going to find hurdles on the way to certification," said Richard Aboulafia, aerospace analyst at research firm Teal Group.

Goldman Sachs Sees ‘Rather Strong’ Growth in 2010-11

2009-12-02T09:56:00.000-08:00

The global economy will expand 4.4 percent in 2010 and 4.5 percent the following year as the world recovers from the credit crisis, Goldman Sachs Group Inc. said.

“Our projections suggest that both 2010 and 2011 will be rather strong years,” a team led by Jim O’Neill, Goldman Sachs’s chief economist in London, wrote today in a report in which the bank made eight “top trade” recommendations. “The combination of better-than-expected growth and lower-than- expected inflation should be good news for financial markets.”

Among its new currency recommendations, Goldman Sachs said investors should buy the pound against the New Zealand dollar and the Polish zloty versus the yen. The bank also backed Russian equities and suggested investors should go “long” credit protection on Spain and “short” protection on Ireland.

New York-based Goldman Sachs, the most profitable securities firm in Wall Street history, said earlier today it was ending the last four of its top trades for 2009 after “potential gains” for nine of the 11 bets, including one that the pound would strengthen against the dollar. Goldman Sachs said it had “significant losses” on a recommendation to buy the dollar against the yen, losing 9 percent.

The MSCI World Index of stocks climbed 28 percent this year as the global economic slump eased. Crude oil jumped 75 percent, gold advanced to a record $1,217.23 an ounce and the dollar slid against higher-yielding currencies such as the Australian dollar and Norwegian krone. Treasuries dropped 1.4 percent in 2009, according to Merrill Lynch & Co. indexes, after a resurgence in risk appetite.

US charges Fla. lawyer with $1B investment fraud

2009-12-01T08:25:00.000-08:00

A once high-flying attorney who courted politicians and celebrities was arrested Tuesday on federal racketeering and fraud charges alleging he operated a $1 billion investment scheme that used phony legal settlements.

Lawyer Scott Rothstein was led into the Miami FBI office in handcuffs following his early-morning arrest on five charges, including a violation of the Racketeer Influenced and Corrupt Organizations or RICO law often used against the Mafia and other criminal organizations.

Alicia Valle, spokeswoman for the Miami U.S. attorney's office, said Rothstein was also charged with mail fraud, wire fraud, money laundering and conspiracy. The combined maximum prison term for convictions on all counts is 100 years, according to court documents.

Rothstein was scheduled to appear in federal court later Tuesday. A news conference by prosecutors, the FBI and Internal Revenue Service was also planned.

The type of charging document filed by prosecutors, known as an "information," is typically used when a defendant has already agreed to plead guilty. Rothstein's attorney Marc Nurick declined comment Tuesday.

The document cites unnamed "other conspirators" who also played key roles in the fraud, suggesting that more people could face charges. In addition, the document says that Rothstein paid "gratuities" to unidentified police officials "to deflect law enforcement scrutiny" of his activities.

The criminal case was seen as inevitable after Rothstein returned from Morocco early last month amid mounting questions from investors and the FBI about missing money. The FBI has estimated the Ponzi scheme could top $1 billion and asked investors to come forward with information.

Federal agents have seized Rothstein's boats, including an 87-foot yacht, as well as 20 luxury cars and numerous other assets, including his share of the Miami Beach mansion formerly owned by fashion designer Gianni Versace. Prosecutors are also going after 21 homes and other properties linked to Rothstein in Florida, New York and along Rhode Island's Narragansett Bay.

Meanwhile, the once fast-growing law firm Rothstein Rosenfeldt Adler is defunct and Rothstein has been disbarred by the Florida Supreme Court. Several investors have already filed lawsuits seeking their money back, including one case demanding more than $100 million in damages.

Rothstein promised huge returns on investments in legal settlements he said would pay out over time. Prosecutors say most of the settlements never existed and that Rothstein operated a Ponzi scheme, using money from new investors to pay older ones.

Shortly after the scandal broke, the Florida Democratic Party returned $200,000 in contributions from Rothstein and his law firm. The state Republican Party gave back $150,000, and Gov. Charlie Crist returned $9,600 that Rothstein and his wife, Kim, had donated to Crist's campaign for the U.S. Senate.

Rothstein's office is filled with photos of him with politicians from around the country, including former President George W. Bush, former Alaska Gov. Sarah Palin, Arizona Sen. John McCain and California Gov. Arnold Schwarzenegger. He was also close to Miami Dolphins great Dan Marino and many South Florida business and community leaders.

GM board meets on Saab

2009-12-01T08:23:00.000-08:00

Saab Automobile faced the threat of closure as the board of U.S. parent General Motors GM.UL met on Tuesday to hammer out plans after a deal collapsed to sell the Swedish brand.

Time is running out for Saab after Swedish luxury car maker Koenigsegg pulled out of bid talks last week, putting in doubt the future of the loss-making GM unit. Analysts have said the most likely outcome is a closure.

"The reality is that to try to get someone in at this stage just looks not feasible," said an auto analyst who sked not to be named. "There is no further quality offer likely to pop up."

Saab and the Swedish government say other investors have approached GM regarding Saab, but in light of the U.S. car maker's vow to drop the brand by early 2010, there is precious little time in which to forge a new deal.

"It is clear that they (GM) have to find a solution as quickly as possible, without high costs and without creating a situation of new competition," said Professor Christer Karlsson at Copenhagen Business School.

"For instance you can't sell it to anybody who wants to sell Saab on the Chinese market because then it will compete with GM's own products, since the new Buick is more or less the same car as the new Saab."

STILL HOPE

Swedish government officials met with GM this week ahead of the board meeting, which is likely to last all Tuesday, to underline that it is ready to provide loan guarantees to a new owner though it has ruled out taking a stake in Saab.

State secretary Joran Hagglund told Swedish news agency TT after the meeting with GM in Detroit that he remained hopeful that a closure of the 60-year-old brand might be avoided.

Beijing Automotive Industry Holding Corp (BAIC), which tied up with Koeningsegg in October, could still be among the possible contenders to take over Saab, which has not made a profit since 2001.

Merbanco Merchant Banking Co, based in Wyoming, has also said it remains interested in Saab.

U.S. financier Ira Rennert and his Renco Group had also expressed interest in pursuing a deal for Saab before GM struck a preliminary deal with Koenigsegg earlier this year.

Pfizer deal moves Gaucher drug stocks

2009-12-01T08:19:00.000-08:00

The NYSE Arca Pharmaceutical Index (INDEX:DRG) rose 1.3% to 310.22 and the NYSE Arca Biotechnology Index (INDEX:BTK) inched up 0.3% to 890.31.

Shares of Pfizer (NYSE:PFE) were up over 2% at $18.59.

Pfizer said early Tuesday that it will co-develop Protalix's (AMEX:PLX) Gaucher treatment GCD. Protalix is in the process of applying for U.S. regulatory approval for the product.

Under the deal, Pfizer will pay Protalix $60 million upfront, plus up to $55 million in milestone payments. Pfizer and Protalix will share in the product's future revenue and costs on a 60/40% basis.

Shares of Protalix were down 14% at $8.47 on word of the deal. Shares of the biotech group had been bid up substantially in recent weeks in part on speculation that it would be bought outright by Pfizer.

Shares of Shire plc (NASDAQ:SHPG.Y) were also up 1% at $59.60. Shire has a treatment for Gaucher disease awaiting regulatory approval.

Protalix's drug is currently available to the public on an emergency basis as the leading medication to treat the disease, Genzyme Corp.'s (NASDAQ:GENZ) Cerezyme, is in short supply. The Cerezyme shortage was triggered by a temporarily shut-down earlier this year of a key Genzyme manufacturing plant due to contamination concerns. See story on Gaucher drug market.

Early Tuesday, Genzyme announced that it has resumed shipping of Cerezyme from the plant, along with the medication Fabrazyme. Both products are major revenue drivers for Genzyme.

Shares of Genzyme were up 1% at $51.14.

Shares of Human Genome Sciences, HGS (NASDAQ:HGSI) , were down 3% at $26.91.

Late Monday, HGS said announced it has commenced a public offering of 12.5 million of its common shares. The company said it plans to use part of the proceeds to fund commercialization of its eagerly-anticipated lupus drug Benlysta.

Fed reduces AIG's debt by $25 billion

2009-12-01T08:17:00.000-08:00

AIG announced Tuesday that it completed a deal wiping out $25 billion of its debt to taxpayers by selling stakes in two subsidiaries to the Federal Reserve Bank of New York.

The troubled insurer gave the New York Fed preferred shares of two of its international life insurance companies, including $16 billion of American International Assurance Co. and $9 billion of American Life Insurance Co. The deal was originally announced in March.

The deal brings the New York-based insurer's debt to the New York Fed down to $17 billion. AIG also still owes the U.S. Treasury $44.8 billion from a separate Troubled Asset Relief Program (TARP) loan, so the insurer still owes taxpayers just under $62 billion.

AIG Chief Executive Bob Benmosche said, in a press release, that the debt reduction "sends a clear message to taxpayers: AIG continues to make good on its commitment to pay the American people back."

AIG's (AIG, Fortune 500) stock rose more than 4% on the news in morning trading.

"The agreements further the goals of enabling AIG to fully repay the assistance that it has received from U.S. taxpayers and advancing the company's global restructuring process," the New York Fed said in a statement when the deal was first announced in March.

The Federal Bank of New York initially provided $85 billion worth of support to AIG in September 2008, when the company was on the brink of collapse. AIG's government rescue plan has since been restructured three times, and its total bailout is now worth up to $182 billion.

But much of that bailout has come in the form of government asset purchases that AIG does not need to repay. In addition to the $25 billion announced on Tuesday, the government in March bought up nearly $40 billion of insurance agreements and mortgage-backed securities held by AIG and its business partners.

To pay back the remaining $62 billion it owes the government, AIG will continue to sell off its assets. Despite recording two straight profitable quarters, AIG has said it will not generate enough earnings to repay taxpayers with profits alone.

AIG said Tuesday's transaction will force the company to take a hefty $5.7 billion restructuring charge in the current quarter, which will likely wipe out any profits AIG would have registered in the last three months of 2009.

Despite the government support, the company still faces a steep uphill battle to return to health. Shares of the insurer tumbled 15% Monday, after Bernstein Research analyst Todd Bault told investors that he cut the 12-month price target to $12 a share from $20 because the insurer's "loss reserves are significantly deficient again, much sooner than we would have forecast two years ago."

On Nov. 25, AIG announced that it had resolved its legal dispute with former chairman Maurice "Hank" Greenberg.

DUBAI INVESTORS PANIC

2009-12-01T08:14:00.000-08:00

Dubai's leader tried to calm panicky investors Tuesday as regional markets tumbled for a second day on news that the city-state's chief conglomerate needs to delay payments on its $60 billion debt for six months.

Government-owned investment company Dubai World — the United Arab Emirates' main engine of growth — gave anxious investors the first bit of clarity they were hoping for on how it might meet its debt obligations. It said it had begun discussions with creditors on $26 billion of its debt that would include restructuring about $6 billion.

The conglomerate is involved in international projects from Gulf banks and ports in 50 countries to luxury retailer Barney's New York and a grandiose six-tower hotel-entertainment complex in Las Vegas. Its potential for a debt default sent jitters through world markets on concerns of new setbacks for Dubai World's large international bank creditors just as they are recovering from the global financial crisis.

Dubai is one of seven highly autonomous statelets that make up the United Arab Emirates and the crisis has sent the UAE's two biggest markets into a tailspin. The Dubai Financial Market sank another 5.61 percent on Tuesday after plunging 7.3 percent on Monday and Abu Dhabi's bourse closed down 3.57 percent following an 8 percent slide a day earlier.

Dubai's ruler, Sheik Mohammed bin Rashid Al Maktoum, tried to reassure investors in his first public statement about Dubai World's debt crisis.

"Our economy is strong and solid and consistent," he told Al-Arabiya satellite television, adding markets were overreacting because of "a lack of understanding about what is happening in Dubai." He did not elaborate.

UAE President Sheik Khalifa bin Zayed Al Nahyan also maintained his country's economy was healthy.

However, analysts say Dubai World's debt crisis is a symptom of a broader malaise in the city-state. Dubai has no oil resources. But for the past decade, it has been the freewheeling boomtown, racking up debt as it built extravagant artificial residential islands, malls complete with indoor ski slopes and the world's tallest tower.

The troubles raised concerns in international markets that the large international banks that extended credit to the conglomerate could now face a new setback if it defaults just as those big banks are starting to emerge from the global financial crisis. The big fear is that Dubai's problems could be indicative that the global recovery is not on as solid a footing as many had hoped and there could be other toxic debt problems still to come in developing countries.

World stock markets rose sharply Tuesday on the announcement that Dubai World was in talks to restructure a large chunk of its business. Investors were eagerly awaiting clarity on how it would deal with its debts, specifically reassurances that the company was sitting down with creditors to refinance its debt.

Saurabh Dhall, an independent broker in Dubai, said there is a lot of uncertainty about how the debt crisis will play out. He said it was raising credibility concerns both about Dubai's ability to stand behind its debt obligations and the possibility, however, remote, that the crisis could impact broader government debt in the UAE.

"The major concern is not so much the dollar amount ... of the payments, it's the concern about how this will affect credibility," he said.

Investors were not reassured on Monday when Dubai officials indicated they had washed their hands of Dubai World's debts, arguing that it was an independent company that happened to be owned by the emirate.

The news rattled investors and raised more questions about whether neighboring Abu Dhabi, the oil-rich seat of the UAE's federal government, would step in with a bailout of sort and what such a step would mean for Dubai.

Dubai World said Tuesday in a statement the restructuring would include about $6 billion in Islamic bonds issued by its real estate arm, Nakheel PJSC, the company behind Dubai's iconic, palm-shaped artificial islands. About $3.5 billion of the bonds come due on Dec. 14, and Nakheel was viewed as the litmus test for how Dubai World will deal with its debt woes.

It did not deal with the broader issue of how it would meet its entire crushing debt burden.

Dubai World's statement Tuesday said the restructuring would include Dubai World and certain subsidiaries, including Nakheel World and Limitless World. Excluded from the talks are debts from Infinity World Holding, Istithmar World and Ports & Free Zone World, which includes ports and terminal operator DP World, Economic Zones World, P&O Ferries and Jebel Ali Free Zone.

The conglomerate said all those subsidiaries are on "stable financial footing," and in a statement posted on the Nasdaq Dubai Web site, Jebel Ali Free Zone said it paid a roughly $2 billion Islamic bond, or sukuk, on time Tuesday.

Other UAE markets also felt the weight of Dubai's problems. Qatar's bourse fell 8.27 percent while Kuwait's was off 2.71 percent on Tuesday.

Markets in the Emirates will be closed Wednesday and Thursday for a national holiday and will reopen Sunday after the weekend.

NABUCCO PIPELINE

2009-11-30T00:54:00.000-08:00

Northern Iraqi gas production from the Pearl Production Co. could be available in five years to feed into the Nabucco gas pipeline and supply Europe, Austrian oil company OMV AG (OMV.VI) said Friday.

"Pearl is very important because they have access to a major gas field. It has the capacity to produce an important part of the supply of Nabucco," said the company's Chief Executive Wolfgang Ruttenstorfer at a press briefing in London. "The gas is there and could be available in five years."

OMV owns a 10% stake in Pearl.

The 3,300 kilometer Nabucco pipeline is an ambitious project that aims to open a new supply route for Central Asian and Middle Eastern gas to Europe via Turkey, Bulgaria, Romania, Hungary and Austria. The project has the backing of the European Union, which sees it as a way to reduce dependency on imports of Russian natural gas.

OMV, Germany's RWE AG (RWE.XE), Turkey's Botas, Bulgarian Energy Holding, Romania's Transgaz and Hungary's MOL Nyrt. (MOL.BU) are members of the Nabucco consortium. They plan to decide whether to proceed with the project in the fourth quarter of 2010, with operation due to commence in 2014.

Gas fields in northern Iraq could be developed in several years and linked fairly quickly to Turkey through an inexpensive feeder pipeline, Ruttenstorfer said. He added that he is confident that political tensions over energy exports from the Kurdish region of Iraq will have been resolved within the time frame of the Nabucco project.

The economic downturn that has left Europe with a surplus of gas has not fundamentally changed the viability of Nabucco, said Ruttenstorfer. "We are going to have an oversupply of gas in Europe for the next three to five years," he said, but after that the region will see its need for gas imports rising again.

The downturn has also had little impact on the projected EUR7.9 billion cost of the pipeline, said Ruttenstorfer.

Partners in the Nabucco consortium will need to secure around half of the pipelines planned 31 billion cubic meter a year capacity in order for the project to get the go-ahead as scheduled for the fourth quarter of 2010.

In addition to Iraq, around half this gas will probably have to come from Azerbaijan, so the decision from BP PLC (BP), Azeri state oil company Socar and their partners on whether to proceed with the second phase of the Shah Deniz gas project will be crucial, Ruttenstorfer said.

Many Nabucco consortium members are talking to the Azeris about gas supply, he said.

Ankara and Baku should resolve issues related to the price for natural gas in order to move forward with the Nabucco gas pipeline, U.S. officials said.

Richard Morningstar, the U.S. special envoy for Eurasian energy, warned that Nabucco companies could look for alternative options if Baku and Ankara cannot resolve their issues, the Azeri Press Agency reports.

"A failure to find an agreement would lead energy companies to search for different routes," he said.

Baku has considered raising the price of the gas purchased by Ankara from the Shah Deniz gas field.

The offshore Shah Deniz field has the capacity to produce 318 billion feet of gas from its initial phase, with another 706 billion cubic feet expected from Phase 2 by 2012.

Partners to the Nabucco gas pipeline for the European Union aim to diversify the regional energy sector by courting Central Asian and Middle Eastern suppliers to the project.

Morningstar told an audience at the European Policy Center in Brussels that outstanding price negotiations were moving forward, but the importance of a resolution could not be underestimated.

"We strongly encourage Turkey and Azerbaijan to agree on pricing terms because the agreement is needed to win the trust of the participating companies in the Nabucco pipeline project," he said.

Nabucco partners are eyeing Azerbaijan, Turkey and Iraq as potential suppliers for the project. Morningstar stressed that Iranian gas is not a consideration.

"Territorial integrity of Azerbaijan is as sacred as our own integrity.

The signed protocols will promote the restoration of relations between Armenia and Turkey and pave a way to peace and ensure territorial integrity of Azerbaijan. The protocols have already been submitted to the parliament and it is for parliament to decide when to ratify them", ANS-TV quoted Turkish FM Ahmed Davutoghlu as saying answering the question of the Turkish deputy from opposition People’s Republican Party Janan Aritman.

"The events that occurred in the Caucasus in August 2008, proved that the situation threatening to security, stability and interaction, is prevailing in the region. In this view, we have proposed the Caucasus Stability and Cooperation Platform and invited all the countries which are parties to the conflict, including Armenia, to join the platform. We have initiated a dialogue with Armenia which has accelerated recently. The Turkish-Armenian protocols signed on October 10 are not harmful for the Azerbaijani interests", he said.

Janan Aritman asked whether Nabucco project will be stopped with the opening of the Turkish- Armenian border. When answering the question, Davutoghlu said Nabucco project has nothing to do with normalization of relations with Armenia.

Kazakhstan wants to leave politics out of the equation and make a profit when dealing with the transport of hydrocarbons, the country’s foreign minister told five visiting western journalists at his lavish ministry in Astana. “The fundamental principle from which we are proceeding on exporting our resources is the principle of economic feasibility - no politics there. We have exported and will be exporting in any direction that is profitable for us,” Kanat Saudabayev said on 23 November. He was responding to a question from New Europe on whether the energy-rich former Soviet republic had any preference over Russian, Chinese or EU-bound projects competing for its rich oil and gas resources.
The relatively new foreign minister reminded that the Turkmenistan-Kazakhstan-China gas pipeline is due to be inaugurated on December 15 and there is already an oil pipeline from western Kazakhstan to western China. Kazakhstan also exports its oil through a whole system of pipelines running through Russia (CPC). Moreover, Kazakhstan ships oil through the Aktau-Tbilisi-Ceyhan pipeline system.
“Given that we will be producing 170 million tons of oil out of which 130 million tons of oil will be available for exports it is in our deep interests to see the multiple export pipelines realized,” Saudabayev said. The bulk of the new volumes would come from Kashagan’s massive oil field, which plans to start commercial production around 2015. “Kazakhstan is and has been turning into a more significant player on the energy market for the European consumers and we will continue to export oil resources through those means that are profitable for us. Kazakhstan as a partner has always been distinguished by its reliability and predictability,” Saudabayev said.
The question is how this oil will be transported. There are several options, including the expansion of the CPC pipeline to Novorossiysk and also using the route to China.
Regarding the issue of bypassing the crowded Bosporus, the Burgas-Alexandroupolis oil pipeline seems to have stalled. Russia seems to prefer the Samsun-Ceyhan pipeline route through Turkey due to foot-dragging by Bulgaria but also to lure Turkey into supporting the South Stream gas pipeline over Nabucco, Chris Weafer, chief strategist at Uralsib bank, told New Europe from Moscow.
“I assume that both by-pass pipes will eventually be built to cut congestion in the Bosporus. Russia will want to send more shipping with non-oil cargos via the narrow channel as it expands the economy and operations at Novorossiysk port. So it needs to divert as much oil into pipes as possible as quickly as possible,” Weafer said. Kazakh President Nursultan Nazarbayev supported Samsun–Ceyhan during his latest visit to Turkey.
Asked by New Europe if Kazakhstan was economically interested in the Nabucco pipeline, Kazakhstan’s Minister of Economic Affairs and Budget Planning Bakhyt Sultanov said that his country is interested in different ways to export its oil and gas resources. “In the case of Nabucco the main question is resources. If we’ll have resources we can sell through Russia, through Nabucco, though our partners,” he said at the sidelines of a forum to discuss Kazakhstan’s OSCE chairmanship and its priorities.
For now, it seems as if Nabucco has been out-maneuvered by Russia and China and is in real danger of having nowhere to turn to for gas supplies. “The commercial case for South Stream and Nabucco looks increasingly unsound,” Weafer said. “They are both now political projects.”

DUBAI OVERBLOWN

2009-11-30T00:48:00.000-08:00

Dubai media and several business leaders rallied to support the Gulf Arab emirate's efforts to manage its debt crisis, saying problems have been exaggerated and the impact of restructuring overblown.

Riad Kamal, chief executive of Arabtec ARTC.DU, said he had no doubt about Dubai's commitment to settle its debt.

"Dubai should be given time to restructure its debt. I'm not going to lose sleep over this issue," he said.

The crisis began on Wednesday when Dubai, part of the United Arab Emirates federation, asked to delay payment on billions of dollars of debt issued by conglomerate Dubai World and its main property subsidiary Nakheel, developer of palm tree-shaped islands that once attracted celebrities and the super-rich.

"I am very relaxed. Dubai has never defaulted and it will not default," Khalaf Al Habtoor, chairman of Al Habtoor Group, told Reuters by phone. "I am confident the government will meet its commitments and help the companies."

An executive at Emirates NBD ENBD.DU, one of the region's largest banks, also sought to minimise the impact, saying: "It's business as usual and there's nothing to worry about."

Nevertheless, Dubai's share index fell 5.9 percent in early trading, while DP World DPW.DI plunged 14.9 percent when UAE markets opened for the first time since the debt repayment delay was announced. Abu Dhabi's bourse also declined, losing 7.1 percent to 2,703 points.

The president of Emirates airline told London's Sunday Telegraph in an interview that he was shocked by the global fallout, but said: "Dubai will navigate itself out of this, as will we." He said the carrier would not be affected.

The English-daily Khaleej Times newspaper said the Dubai government had taken a hard look at the way Dubai Inc. operates, and will fix what has not worked.

"The need to restructure Dubai World is for real, and the decision to go ahead with it indicates maturity on the part of the emirate's decision-makers," the paper said in an editorial.

Khaleej Times defended the goverment from critics who said the announcement, made just before a four-day Eid al-Adha holiday, had undermined Dubai's credibility and transparency. "The timing of the announcement of a possible six-month delay in repaying the group's debt can be debated by market-makers, but not the intention behind it," it wrote.

OVERBLOWN

Some bankers and investors also believe last week's Dubai World restructuring announcement was blown out of proportion.

"The crisis itself has been exaggerated. It is very much localised in one sector and one group. It has been escalated to a much bigger issue," Suresh Kumar, chief executive of Emirates NBD capital said.

Ajman Bank AJBNK.DU, one of the UAE's smallest banks, said it would pursue its plan to open a Dubai branch in December.

"Since the start of the global crisis, this is not the first time a postponement has been announced in a world economy like Dubai," Ajman Bank's acting CEO Ali Alshaqoosh Al Mueen told Reuters. "The decision will certainly have been taken after a thorough review of all resulting benefits and outcomes."

Some executives at international banks active in the region also voiced confidence in Dubai.

Michael Geoghegan, HSBC Group chief executive, said in a statement at the weekend he was "confident that the leadership of Dubai and the UAE will overcome any short-term issues they face, which appear to have been somewhat sensationalised, and continue to lay the foundations for sustainable growth."

Mounir Husseini, Deutsche Bank's chief country officer for the UAE and Qatar, said in an email statement: "It is clear to me that the leadership of Dubai, supported by Abu Dhabi, is committed to taking the right steps for the UAE."

Amid a global financial-market rout, Dubai's announcement Wednesday that it would seek to delay debt payments represents the latest setback for the city-state's ruler, Sheik Mohammed bin Rashid Al Maktoum.

Last week's market mayhem was compounded by a lack of transparency from Dubai over the standstill request. A five-paragraph statement from the Dubai Department of Finance provided few details. A spokesman for the department said he couldn't comment further. A spokesman for the ruler's court didn't respond to a request for comment.

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Associated Press

Sheik Mohammed bin Rashid Al Maktoum, front right on Nov. 15, was briefed as Dubai World's troubles emerged.

Late Thursday night, Sheik Ahmed bin Saeed Al Maktoum, a senior Dubai finance official and the chairman of the Emirates airline, said in a statement that the standstill announcement had been carefully planned and promised more details this week. "This is a sensible business decision," he said.

Over the last several decades, Dubai's debt piled up as government-related companies borrowed to fund development at home and acquisitions abroad. Bankers and credit analysts assumed government support from Sheik Mohammed -- and from the federal government in Abu Dhabi -- if they ever overextended.

But when the global financial crisis hit, foreign investors fled Dubai's property market, a pillar of the economy. Unease over Dubai's debt turned into global concern, and the cost of insuring Dubai debt against default started to rise sharply. Developers, many of them state-owned, saw their cash flow disappear. Buyers, who could put as little as 10% down, stopped paying installments. Builders started complaining about missed invoices.

In February, Dubai orchestrated a novel $20 billion bond program, of which the first $10 billion tranche was fully subscribed by the U.A.E. central bank.

Dubai said it would use the money to meet its own debt obligations and unpaid bills by developers. The U.A.E. offered more, but Dubai turned down the offer, according to one person familiar with the situation.

But just as investors started to breathe easier because of the big show of federal support, Sheik Mohammed dumped his new finance chief with no explanation.

Still, Dubai made its debt payments on time. In June, Dubai World, the biggest of Dubai's corporate entities, brought in restructuring outfit Alix Partners Ltd. to advise on an overhaul.

In mid-October, Dubai World said it would shed thousands of jobs and launch a major cost-cutting effort. Selling assets quickly wasn't a real option. Many of the company's businesses were still valuable but illiquid, according to a person familiar with the situation. The company wanted to avoid a fire sale, this person said.

Amid the restructuring effort, Sultan Ahmed bin Sulayem, the chairman, was aloof, according to this person. His deputy, Jamal bin Thaniah, appointed chief executive in October, took on a more active role, this person said. Mr. Sulayem hasn't responded to requests for comment. A spokesman for Dubai World said he wasn't available.

A $3.5 billion sukuk, or Islamic bond, was coming due in December. While Dubai World signaled in the spring that a debt restructuring was an option, investors and analysts continued to expect a bailout.

In a letter to employees of Dubai World earlier this month, Mr. Sulayem said the Dubai government had assured the company "full support as an iconic company serving its role in the government's vision for the future."

A Dubai World spokesman declined to comment on the letter, except to say the company would continue to communicate with staff about the restructuring. "A restructuring process has been under way for some time and it continues," he said.

Earlier this month, Dubai's top officials gathered for a meeting of Sheik Mohammed's royal court, according to a person familiar with the situation. At Zabeel Palace, surrounded by manicured gardens, statues of prancing horses, and flittering peacocks, Sheik Mohammed was briefed on the extent of Dubai World's troubles, this person said.

In the days that followed, Sheik Mohammed announced the removal of several top economic advisers from key positions. Then on Wednesday, Dubai announced it had raised $5 billion in debt commitments from two Abu Dhabi-controlled banks. Investors interpreted the move as another indication that the federal government would come to Dubai's rescue if needed. Two hours later, Dubai came out with its standstill announcement.

U.S. stocks fell more than 1 percent in a truncated session on Friday as a possible debt default by a Dubai state-owned conglomerate led to fresh concerns about the global financial system.

The sell-off was broad, with selling concentrated mainly in the financial and commodity-linked sectors as investors trimmed positions in areas of the market most sensitive to economic uncertainty.

That hit stocks like aluminum producer Alcoa Inc , down 2.6 percent, and Bank of America , down 3 percent.

But after a slide of more than 2 percent at the open, the flight to less risky assets seemed to be subsiding, helping the major U.S. stock indexes ease back up off their lows. The U.S. dollar, which had jumped sharply as investors looked for a safe haven, pared gains and commodity prices stabilized.

The news out of the Middle East coincided with the desire by many investors to lock in 20 percent year-to-date gains in the S&P 500 after a terrible year in 2008.

"It is at least an early indication of whether investors believe this is one-time bad news or the tip of something really bad," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago. "Right now, it looks like investors are taking the optimistic stance."

The Dow Jones industrial average <.DJI> dropped 154.48 points, or 1.48 percent, to end at 10,309.92. The Standard & Poor's 500 Index <.SPX> fell 19.14 points, or 1.72 percent, to 1,091.49. The Nasdaq Composite Index <.IXIC> lost 37.61 points, or 1.73 percent, to 2,138.44.

For the week, the Dow dipped 0.1 percent, while the S&P 500 edged up 0.01 percent and the Nasdaq slipped 0.4 percent.

Volume was light on the day after Thanksgiving. The U.S. stock market shut on Friday at 1 p.m. (1800 GMT), which was three hours shy of its normal closing bell, but the number of declining stocks still towered over those advancing.

Standard & Poors Puts Four Dubai Banks on Credit Watch

2009-11-27T03:54:00.000-08:00

Dubai banks Emirates Bank International PJSC, National Bank of Dubai, Mashreqbank PSC and the Dubai Islamic Bank PJSC have all been put on credit watch by Standard & Poor's rating agency after the city state's largest corporate entity, Dubai World, asked creditors for a six-month standstill on debt repayments.

The agency has placed its CreditWatch on the the 'A-' long-term rating for the four banks while affirming its 'A-2' short-term ratings on Emirates Bank International, National Bank of Dubai and Mashreqbank.

"The rating actions reflect the large exposure these banks have to Dubai World and Nakheel, and more generally to Dubai-based government related entities, and the risks that the standstill agreement would pose to these banks," said S&P credit analyst Mohamed Damak.

"This comes at a time when the deteriorated economic environment, including the fall of real-estate prices, has already started to weigh on the financial profile of these banks," he added.

Asset quality indicators are also expected to worsen as some of these banks have exposure to Ahmad Hamad Al Gossaibi Brothers and Saad Group, which defaulted on their obligations earlier in 2009.

Dubai's Woes Shake U.A.E. Region

2009-11-27T03:52:00.000-08:00

Investors remained rattled, two days after the government said it would take charge of restructuring its corporate flagship, Dubai World, and asked creditors to accept delayed payments.

The dollar and the yen roared higher Friday as the fallout from the Dubai debacle continued to resonate through global financial markets. Proving that gold doesn't always benefit during bouts of risk aversion, gold fell 4% along with a decline in crude oil and a drop in equities.

Meanwhile, equities markets across Asia fell sharply Friday. Japan's Nikkei 225 Average fell 3.2% to 9081.52, its lowest close since July. In Hong Kong the Hang Seng Index plunged 4.8% or 1075 points to 21134.50, led down by banking stocks. HSBC Holdings shares in Hong Kong fell 7.6% and Standard Chartered shares closed down 8.6% on news the banks were directly exposed to Dubai's debt problems.

European shares, which droped sharply Thursday, rebounded from early session lows Friday ahead of the U.S. stock market open, suggesting that the selloff on Dubai World's debt worries was overdone. The U.S. stock market is reopening Friday after the Thanksgiving holiday on Thursday. (See complete markets updates at WSJ.com/markets.)

A Wednesday announcement of a six-month standstill in debt payments took investors and analysts by surprise. It followed months of positive moves and comments from government officials suggesting Dubai and the federal government of the United Arab Emirates were willing to step in to plug financing holes.

"The most negative effect of [the] announcement is a major shock to confidence in the U.A.E. and the region more generally," said Richard Fox, a credit analyst at Fitch Ratings in London. "People will now question government support."

Amid a scramble by international bankers and analysts to assess global exposure to Dubai, the company said Thursday that its cash-generating ports division, DP World, wouldn't be included in the restructuring.

Company executives and representatives didn't respond to requests for comment. Sheik Ahmed bin Saeed al Maktoum, head of Dubai's finance committee, said in a statement Thursday that "our intervention in Dubai World was carefully planned and reflects its specific financial position," according to Zawya Dow Jones. "We understand the concerns of the market and the creditors in particular. However, we have had to intervene because of the need to take decisive action to address its particular debt burden," he said, promising more details next week.

Dubai's standstill request is one more troubling development for international banks, which turned in recent years to the oil-rich Middle East as a source of income. Both local and international banks also are licking their wounds from the debt troubles this year of two big family-run Saudi Arabian conglomerates, which owe more than 100 lenders a conservatively estimated $15 billion.

Dubai World is seeking a six-month moratorium on interest payments, a person familiar with the matter said. During that time, it could negotiate with creditors a restructuring that would pare liabilities, which include $20 billion of loans and bonds coming due in the next 18 months, according to estimates. If the lenders don't agree, Dubai World will default on the notes, the person said.

The banks with the greatest exposure to Dubai World are Abu Dhabi Commercial Bank and Emirate NBD PJSC, people familiar with the matter said. Executives at the two banks weren't available for comment Thursday.

Among the international banks that have large exposure are the U.K.'s Royal Bank of Scotland Group PLC, HSBC Holdings PLC, Barclays PLC, Lloyds Banking Group PLC, Standard Chartered PLC and ING Groep NV of the Netherlands, the person said.

RBS has lent roughly $1 billion to Dubai World, another person said.

Barclays's exposure to Dubai World is roughly $200 million, and that exposure is effectively hedged, according to people close to the matter.

Despite the surprise, people close to the banks said they still believe Dubai, or its neighboring emirate, Abu Dhabi, won't risk tarnishing their images further by leaving foreign creditors in the lurch, and will agree to a reasonable plan.

Standard & Poor's put four Dubai's banks on credit watch because of their exposure to Dubai World. The cost of insuring against a Dubai default rose to $547,000 a year per $10 million in debt from $318,000 on Tuesday, according to CMA, a credit-data provider.

Holders of a $3.5 billion sukuk, or Islamic bond, issued by Dubai World property subsidiary Nakheel, due next month, face the most immediate threat. Nakheel bonds dropped from about 110 cents on the dollar before the news Wednesday to about 70 cents.

Investors assumed that the cash coming from the United Arab Emirates would give Dubai ample ability to pay off the Nakheel bond, and Dubai also had sent signals that it was willing to support its corporate entities.

A problem now, observers said, is that the circumstances behind Dubai's moves are murky, making it hard to gauge the exact risk to the bonds and Dubai's own general creditworthiness.

"The uncertainty may drag on for some time yet, before we have a clear idea as to how issues will be resolved," said Huw Worthington, an analyst at Barclays Capital in London.

On Wednesday, the government of Dubai said in a statement that it appointed Deloitte LLP to spearhead an overhaul of the company, effectively sidelining current management. All year, Dubai World has been shedding jobs and cutting costs. That didn't appear enough for government officials.

A spokeswoman for the Dubai government's Department of Finance said on Wednesday that "the Dubai government decided it needed to take a more proactive role."

Dubai World Chairman Sultan Ahmed bin Sulayem would remain in place, she said.

Dubai World has served as Dubai's main driver of growth, operating a globe-spanning ports and transportation group and spearheading real-estate and infrastructure projects at home and abroad.

Real-estate subsidiary Nakheel built Dubai's iconic palm-tree-shaped island, packed with luxury villas and hotels, many still under construction. With little oil, Dubai financed much of this with debt.

Sony Bets On 3-D To Drive TV Sales

2009-11-27T03:41:00.000-08:00

Sony Corp. expects new 3-D compatible televisions will account for up to half the TVs it sells in roughly three years, as it outlined details of its effort to prop up its slumping electronics business.

Hiroshi Yoshioka, Sony's executive deputy president and the head of its consumer products and devices group, also said the company is holding talks with several auto makers to enter into the promising but crowded market for lithium-ion car batteries. He didn't name the auto makers. Most of a $1 billion investment in battery technology over the next few years will go toward car battery development, he said, adding that Sony has also increased staffing in that area.

A Sony Corp. 3-D television and videogame demonstration in October.

the Japanse company offered last week, when Sony outlined plans to rely heavily on 3-D technology and online content to reach an operating profit margin of 5% in the fiscal year ending in March 2013.

Sony has already said it targets revenue of more than one trillion yen (about $11.4 billion) from 3-D related products, including televisions, disk players and game consoles, in that fiscal year. The company plans to introduce a 3-D compatible television next year, and Mr. Yoshioka said Thursday those types of sets will account for between 30% and 50% of all televisions sold by the fiscal year ending in 2013. The technology lets viewers choose to watch in the current two-dimensional mode or three dimensions on their TVs while wearing special glasses.

Sales results will depend on available 3-D content, Mr. Yoshioka said, adding that he sees strong potential in videogames. Sony said 3-D television models will be priced at a premium, but it says the glasses required for viewing would be the most costly part for Sony, not the actual production of the television.

In batteries, Sony plans to play up the products' safety. Mr. Yoshioka said the batteries that the company developed after its battery problems of the past enabled Sony to create a safer product. Sony and a number of other companies were plagued in recent year by instances of batteries in consumer products like notebook computer catching fire.

Sony believes the market for batteries is big and promising enough for it to enter, even if it is currently lagging other manufacturers. "We have lots of room," said Mr. Yoshioka. Sony says it currently has about 2,000 employees working in the battery business, but plans to increase that figure.

Under Chief Executive Howard Stringer, Sony is moving to shake up a company plagued by shortcoming in the content and software side of the business and high costs on its manufacturing side. It has forecast an operating loss of 60 billion yen (about $684 million) for the current fiscal year, but Mr. Stringer said the company is striving to break even through cost cuts and other initiatives.

Chinese economic growth

2009-11-27T03:39:00.000-08:00

China's top leaders pledged Friday to continue focusing on economic recovery next year and to maintain a basically accommodative policy stance, a statement that will likely reassure domestic businesses and financial markets that it supports continued growth.

The assurance comes amid growing calls from economists for Beijing to start scaling back its moderately loose monetary policy as the economy has staged a robust rebound.

While saying it will continue its monetary policy stance and active fiscal policy next year, the Political Bureau of the Communist Party, or Politburo, has nonetheless left itself some wiggle room.

"We will maintain the continuity and stability of macro-economic policy," the Politburo concluded in a meeting chaired by President Hu Jintao, according to a report on the state television Web site.

"We will maintain our basic macro-economic policy stance, managing well the intensity, pace and focus of implementing policy...to increase the stability, balance and sustainability of economic growth."

As part of efforts to improve the composition of economic growth, the Politburo said it will pay closer attention to transforming how China grows and to economic restructuring, and will also work to boost domestic consumption next year.

The renewed emphasis on restructuring comes as economic growth has returned to pre-crisis levels. The Politburo said the recovery trend has continued to firm.

Despite signs of stabilization in the global economy, U.S. and Chinese academics have urged Beijing to rely less on exports to the U.S. and more on domestic consumption for economic growth, an objective Beijing has also said it shares.

China will also maintain "reasonable" investment growth next year and improve policies to encourage private-sector investment, the report said. Because public investments have driven the rebound in growth this year, economists say a further pickup in private investment will help sustain growth even after the stimulus program ends at the end of next year.

Additionally, China will improve its policies to stabilize external demand for Chinese products and seek to expand imports, in an attempt to promote a steady increase in foreign trade, the report said.

The government will nurture new sectors, including the services industry, encourage the participation of smaller firms in the economy, and increase its efforts to support innovation in China, as part of broader economic restructuring.

It will continue to improve its policies to help farmers and "do a good job of regulating the market for agricultural produce," the report said. Food prices can be major driver of inflation in China as they have a large weighting in the consumer price index, though the statement didn't mention inflationary risks.