Tuesday, May 15, 2012
Ten Famous Sea Stacks From Around The World
Zookeepers Drank Elephants’ Alcohol
The
elephant keepers at the Marghazar Zoo in Islamabad, Pakistan, ordered a
supply of alcohol each of the past twenty years -for the elephants.
They said the alcohol was necessary to calm the elephants down during
mating season. The orders were filled each year, and listed under the
elephant’s food expense budget. But the elephants never drank the
liquor.The bills amounted Rs80,000 at maximum and minimum at Rs40,000.Once that fact came to light, an investigation was opened. Two of the zookeepers have been suspended.
Locally-manufactured liquor would be supplied to the zoo and the cost would be added to the food expense.
Veterinary doctors while speaking to Express News said that alcohol cannot be consumed by elephants.
Brittle Star Walks Like a Man
Whodathunk
that brittle star walks like a man. After all, unlike the bilaterally
symmetrical humans, the sea creature is round and has five limbs:In a series of first-time experiments, Brown University evolutionary biologist Henry Astley discovered that brittle stars, despite having no brain, move in a very coordinated fashion, choosing a central arm to chart direction and then designating other limbs to propel it along. Yet when the brittle star wants to change direction, it designates a new front, meaning that it chooses a new center arm and two other limbs to move. Brittle stars have come up with a mechanism to choose any of its five limbs to be central control, each capable of determining direction or pitching in to help it move.Not too shabby for a creature without a brain. Wait, come to think of it, that's something it has in common with some people I know!
Monday, May 14, 2012
The Daily Drift
Today's readers have been in:
Reykjavik, Iceland
Petah Tikva, Israel
Ljubljana, Slovenia
Cork, Ireland
Sofia, Bulgaria
Tallinn, Estonia
Kiev, Ukraine
Kota Kinabalu, Malaysia
Makati, Philippines
Kuala Lumpur, Malaysia
Dublin, Ireland
Antwerp, Belgium
Binche, Belgium
Brussels, Belgium
Tel Aviv, Israel
Cebu City, Philippines
Dhaka, Bangladesh
Klang, Malaysia
Jakarta, Indonesia
Montevideo, Uruguay
Zurich, Switzerland
Limerick, Ireland
Groningen, Netherlands
Warsaw. Poland
Tangerang, Indonesia
Krakow, Poland
Bratislava, Slovakia
Barisal, Bangladesh
Oslo, Norway
Athens, Greece
Hong Kong, Hong Kong
Luxembourg, Luxembourg
Islamabad, Pakistan
Singapore, Singapore
Santiago, Chile
Taipei, Taiwan
Carolina Naturally
It is places like this that make North Carolina the place where if you ask the Gods where they would prefer to live they all answer in unison 'Carolina, naturally!'.
Today in History
| 1264 | King Henry III is captured by his brother-in-law, Simon de Montfort, at the Battle of Lewes. | |
| 1509 | At the Battle of Agnadello, the French defeat the Venitians in Northern Italy. | |
| 1610 | French King Henri IV (Henri de Navarre) is assassinated by François Ravillac, a fanatical monk. | |
| 1796 | English physician Edward Jenner gives the first successful smallpox vaccination. | |
| 1804 | Explorer William Clark sets off from St. Louis, Missouri. | |
| 1853 | Gail Borden applies for a patent for condensed milk. | |
| 1863 | Union General Nathanial Banks heads towards Port Hudson along the Mississippi River. | |
| 1897 | Guglielmo Marconi sends first communication by wireless telegraph. | |
| 1897 | "Stars and Stripes Forever" by John Phillip Sousa is performed for the first time in Philadelphia. | |
| 1935 | A plebiscite in the Philippines ratifies an independence agreement. | |
| 1940 | Holland surrenders to Germany. | |
| 1942 | The British Army, in retreat from Burma, reach India. | |
| 1948 | Prime Minister David Ben-Gurion establishes the State of Israel. | |
| 1961 | A bus carrying black and white civil rights activists is bombed and burned in Alabama. | |
| 1969 | Three companies of the 101st Airborne Division fail to push North Vietnamese forces off Hill 937 in South Vietnam. | |
| 1973 | The U.S. space station Skylab is launched. | |
| 1991 | In South Africa, Winnie Mandela is sentenced to six years in prison for her part in the kidnapping and beating of three black youths and the death of a fourth. |
Underground America Day
  May 14th is Underground America Day, a time to honor the 6,000 or so North Americans who make their homes not only on the Earth but in it.  Underground
America Day began in 1974, when architect Malcolm Wells came
up with the idea. "I woke up one day to the fact that the Earth's surface was made for living plants, not industrial plants." "On May 14th each year hundreds of millions of people all across this great land will do absolutely nothing about the national holiday I declared in 1974, and that's just the way it should be. "It's a holiday free of holiday obligations. "You don't even have to lose a day of work. But if you're the partying type, here are some of the ways in which you can observe the big day." |
Thief Forgets to Logout of Facebook Before Robbing Internet Cafe
Well-appointed
Internet cafes have signs that remind users to log out of any
applications before leaving. Not everyone pays attention, including as
two robbers at one in Colombia:It happened in the neighborhood of Calima, north of the city of Cali, Colombia. Two men arrived to an internet cafe, rented two computers, did their thing for a bit and, as they pretended to be paying, they took out guns and got all the money.One of the two robbers forgot to log out of his Facebook account. Police used it to trace his home address.
Man pulled over by police for being too radioactive
Mike Apatow was minding his own business on Wednesday, driving to an
appointment for work in Washington Depot when a state police car
appeared suddenly and signalled for the Milford resident to pull over.
Apatow, 42, was entering Interstate 84 in Newtown when the cruiser
appeared, and he had no idea what he'd done to merit police attention.
It turns out he didn't do anything.
But earlier that day, Apatow, who'd experienced a recent spike in his blood pressure, had a nuclear stress test at Cardiology Associates of Fairfield County in Trumbull. In the test, a small amount of a radioactive material is injected into the veins and used to help track blood flow to the heart. Though the amount of radioactive material used in the test is relatively low - equal to a few X-rays or a diagnostic CT scan - it was enough to set off a radioactivity detector in the state police car.
The detectors are used to help identify potential terror threats. "I asked the officer `What seems to be the problem?' " Apatow said. "He said `You've been flagged as a radioactive car.'" Apatow's doctor had given him a document attesting that he'd had a medical procedure involving a small amount of radioactive material that he handed to the officer. A Stratford firefighter, Apatow was more curious than annoyed by the incident.
"I had no idea the police even had devices like that," he said. "I imagined it being like a cartoon - like I'm driving down the street and my car was glowing." State Police spokesman Lt. J. Paul Vance confirmed that many of the state police cars have the radioactivity detectors. "It's part of our homeland security operations here," Vance said. "It's just another layer of public safety that we have in this state."
But earlier that day, Apatow, who'd experienced a recent spike in his blood pressure, had a nuclear stress test at Cardiology Associates of Fairfield County in Trumbull. In the test, a small amount of a radioactive material is injected into the veins and used to help track blood flow to the heart. Though the amount of radioactive material used in the test is relatively low - equal to a few X-rays or a diagnostic CT scan - it was enough to set off a radioactivity detector in the state police car.
The detectors are used to help identify potential terror threats. "I asked the officer `What seems to be the problem?' " Apatow said. "He said `You've been flagged as a radioactive car.'" Apatow's doctor had given him a document attesting that he'd had a medical procedure involving a small amount of radioactive material that he handed to the officer. A Stratford firefighter, Apatow was more curious than annoyed by the incident.
"I had no idea the police even had devices like that," he said. "I imagined it being like a cartoon - like I'm driving down the street and my car was glowing." State Police spokesman Lt. J. Paul Vance confirmed that many of the state police cars have the radioactivity detectors. "It's part of our homeland security operations here," Vance said. "It's just another layer of public safety that we have in this state."
Europe struggles for climate lead
Europe struggles for climate lead
Key UN climate talks are set to open in Germany, with Europe struggling to maintain its position as a global leader.
Merkel's pro-austerity party crushed in elections on Sunday
And yet another blow to the failing austerity program in Europe.
Chancellor Angela Merkel’s party was defeated in its worst result since World War II in elections in Germany’s most populous state that saw the Social Democrats extend their influence across the country’s regions.
The Social Democrats, the main opposition party nationally, took 38.3 percent to win today’s vote in North Rhine-Westphalia, while Merkel’s Christian Democratic Union had 26.1 percent, ZDF television projections showed as of 7 p.m. The Greens took 12.1 percent, giving a majority to SPD Prime Minister Hannelore Kraft’s SPD-Greens coalition that ruled for two years in a minority government in the state capital Dusseldorf.
Elizabeth Warren calls for Jamie Dimon's resignation from Fed
For those wondering why we have such a failed banking system, take a
look at how it works. People like Jamie Dimon are sitting on the board
of the NY Federal Reserve, the board that is supposed to be keeping an
eye on Wall Street. Tim Geithner was schmoozed by Wall Street and
bought into their lies, just as NY Fed presidents before and after. The
relationship between banks and those tasked with oversight are too
cozy.
Warren is right to ask for Dimon to step down, but that should be a minimum. The days of close and friendly relationships between the feds and the banks needs to end. That system has run its course and needs major reform. Bloomberg, speaking with Elizabeth Warren:
Warren is right to ask for Dimon to step down, but that should be a minimum. The days of close and friendly relationships between the feds and the banks needs to end. That system has run its course and needs major reform. Bloomberg, speaking with Elizabeth Warren:
“After the biggest financial crisis in generations, the American people are frustrated that Wall Street has still not been held accountable and does not appear to consider itself responsible,” she said. “Dimon should resign from his post at the New York Fed to send a signal to the American people that Wall Street bankers get it and to show that they understand the need for responsibility and accountability.”
Former Murdoch journalist: stories made up, lived in culture of fear
Anyone who has been paying attention can't be surprised. The Rupert
Murdoch empire has been bullying opponents for years so it's perfectly
believable that they also bullied employees.
The former Murdoch journalist raises a key point about the way Murdoch's News Corp is run. News Corp desperately needs to be investigated because there's too much smoke around its operations.
The Guardian:
The former Murdoch journalist raises a key point about the way Murdoch's News Corp is run. News Corp desperately needs to be investigated because there's too much smoke around its operations.
The Guardian:
A former News of the World reporter has claimed that journalists at the now defunct newspaper regularly made up stories and unethical practices were rife because of a "culture of fear" at the tabloid.
Graham Johnson, who worked at the newspaper between 1995 and 1997, said many employees carried out illegal operations and fabricated articles due to pressures from the top.
He told the BBC: "You can't get through the day on a tabloid newspaper if you don't lie, if you don't deceive, if you're not prepared to use forms of blackmail or extortion or lean on people, you know, make people's lives a misery. You just have to deliver the story on time and on budget, and if you didn't then you'd get told off.
"The News of the World culture was driven by fear, because it's a hierarchy, it's a military operation, it's a seamless operation."
How John Roberts Orchestrated Citizens United
By having the case re-argued, Roberts put the liberals in a box and transformed the decision's impact on political campaigns.
When Citizens United v. Federal Election Commission was first argued before the Supreme Court, on March 24, 2009, it seemed like a case of modest importance. The issue before the Justices was a narrow one. The McCain-Feingold campaign-finance law prohibited corporations from running television commercials for or against Presidential candidates for thirty days before primaries.
When Citizens United v. Federal Election Commission was first argued before the Supreme Court, on March 24, 2009, it seemed like a case of modest importance. The issue before the Justices was a narrow one. The McCain-Feingold campaign-finance law prohibited corporations from running television commercials for or against Presidential candidates for thirty days before primaries.
Did you know ...
That the last 12 months were the hottest on record since records have been kept.
How the affordable healthcare act helps combat preventable hospital infections.
Oh, and here's a comprehensive list of which corporations belong to ALEC.
In yet another reason not to trust Angie's List ... Angie's List is now sponsoring Lush Dimbulb.
How the affordable healthcare act helps combat preventable hospital infections.
Oh, and here's a comprehensive list of which corporations belong to ALEC.
In yet another reason not to trust Angie's List ... Angie's List is now sponsoring Lush Dimbulb.
Bill would stop employers from asking for social media passwords
The Password Protection Act would prohibit employers from gaining
access to a person's private Facebook, Twitter or other social media
profile.
FDA delays rules meant to ease sunscreen confusion
Sunscreen confusion won't be over before summer after all. The
government is bowing to industry requests for more time to make clear
how much protection their lotions really offer.
Americans support national clean-energy standard
The average U.S. citizen is willing to pay 13 percent more for electricity in support of a national clean-energy standard ...
First AIDS, now bone marrow to the rescue of diabetes?
A combination therapy that reverses established Type 1 diabetes in mice sets the stages for development of a new human ...
Marijuana Restaurant Opens in Oregon
After scraping together a mound of zucchini, broccoli, beef,
pineapple and noodles on a big round Mongolian grill, Kevin Wallace
measured out a shot of grape-seed oil infused with hashish and poured it
over the steaming food, setting off a sizzle.
International Heraldry
The origins of heraldry lie in the need to distinguish participants in combat when their faces were hidden by iron and steel helmets. Truly heraldic devices seem to have been first used in Carolingian times. Seals and banners confirm that they were being used in the Flemish area of Europe during the reign of Charlemagne.
A 100,000 LED Spheres Floating Down a River in Japan
The rise and fall of a marine volcano
Rise and fall of marine volcano
The violent rise and collapse of an underwater volcano in the
Pacific Ocean is captured in startling clarity for the first time.
A Dozen Of The Most Beautiful Bays In The World
Patagonia dam project halted
The Mystery Of Resin
No one knows for absolute sure why some trees secrete resin. However, with the aid of some marvelous macrophotography, although the mystery surrounding this subject cannot be solved for certain, its beauty - at times deadly - becomes evident.
Orangutan forced to chew off own hand to escape from snare recovering
An orphaned orangutan who was forced to gnaw off its own hand to escape
from a snare is now recovering after life-saving surgery. Pelangsi lived
off nothing but rainwater for 10 days before chewing off his own hand
in a desperate bid to escape. Thankfully the orphan was eventually
rescued by the team at International Animal Rescue in Indonesia.
Pelangsi now could be released back into the wild in just a few months after a five-hour operation to amputate his damaged hand and arm. Karmele Llano Sanchez, Veterinary Director at International Animal Rescue Indonesia, said Pelangsi was looking alert and eating. "Pelangsi was clearly young and fit before getting trapped in the snare," he said.
"While it is a tragedy that he has lost his limb this is far better than him losing his life through septicaemia. There is no reason why he shouldn't return to the wild and fend for himself again. He's a wild orangutan so finds it quite stressful to be in captivity, he tries to hide under the foliage in his cage whenever we approach him with darts and the blowpipe to sedate him." Alan Knight, the charity's chief executive, said Pelangsi's story reflected the plight of many orang-utans in Borneo.
"He was driven from the forest when it was destroyed to make room for a palm oil plantation," he said. "He was forced into an area where wildlife and humans are competing for space and food. Unfortunately we came too late to save his damaged hand but we certainly saved his life." The team are now looking for a potential release site for Pelangsi so he can be released into a safe area of forest which is free from man-made threats.
Pelangsi now could be released back into the wild in just a few months after a five-hour operation to amputate his damaged hand and arm. Karmele Llano Sanchez, Veterinary Director at International Animal Rescue Indonesia, said Pelangsi was looking alert and eating. "Pelangsi was clearly young and fit before getting trapped in the snare," he said.
"While it is a tragedy that he has lost his limb this is far better than him losing his life through septicaemia. There is no reason why he shouldn't return to the wild and fend for himself again. He's a wild orangutan so finds it quite stressful to be in captivity, he tries to hide under the foliage in his cage whenever we approach him with darts and the blowpipe to sedate him." Alan Knight, the charity's chief executive, said Pelangsi's story reflected the plight of many orang-utans in Borneo.
"He was driven from the forest when it was destroyed to make room for a palm oil plantation," he said. "He was forced into an area where wildlife and humans are competing for space and food. Unfortunately we came too late to save his damaged hand but we certainly saved his life." The team are now looking for a potential release site for Pelangsi so he can be released into a safe area of forest which is free from man-made threats.
Sunday, May 13, 2012
The Daily Drift
While we normally would have published around mid-day local time
today we spent time with our mothers so we are publishing later in the
day than usual.
Today our readers have been in:
Today our readers have been in:
Dublin, Ireland
Binche, Belgium
Tel Aviv, Israel
Dhaka, Bangladesh
Jakarta, Indonesia
Zurich, Switzerland
Groningen, Netherlands
Tangerang, Indonesia
Bratislava, Slovakia
Hong Kong, Hong Kong
Oslo, Norway
Kiev, Ukraine
Kota Kinabalu, Malaysia
Kuala Lumpur, Malaysia
Antwerp, Belgium
Cebu City, Philippines
Klang, Malaysia
Montevideo, Uruguay
Cork, Ireland
Athens, Greece
Limerick, Ireland
Sofia, Bulgaria
Makati, Philippines
Petah Tikva, Israel
Tallinn, Estonia
Today in History
| 1607 | English colonists land near the James River in Virginia. | |
| 1648 | Margaret Jones of Plymouth is found guilty of witchcraft and is sentenced to be hanged. | |
| 1779 | The War of Bavarian Succession ends. | |
| 1846 | The United States declares war on Mexico after fighting has already begun. | |
| 1861 | Britain declares its neutrality in the American Civil War. | |
| 1864 | The Battle of Resaca commences as Union General Sherman fights towards Atlanta. | |
| 1888 | Slavery is abolished in Brazil. | |
| 1912 | The Royal Flying Corps is established in England. | |
| 1913 | Igor Sikorsky flies the first four-engine aircraft. | |
| 1944 | Allied forces in Italy break through the German Gustav Line into the Liri Valley. | |
| 1958 | French troops take control of Algiers. | |
| 1968 | Peace talks between the United States and North Vietnam begin in Paris. | |
| 1981 | Pope John Paul II survives an assassination attempt. |
Greek parties fail to form coalition
It's not yet to the point where new elections have to be held, but it's
getting closer. There will be a push by the president to force a
coalition and that may take some time. Regardless, austerity is on its
deathbed in Greece.
BBC News:
BBC News:
Greek President Karolos Papoulias is preparing to hold talks with party leaders in an attempt to create an emergency government.
The move comes after the country's socialists became the third party to fail to form a coalition.
If the president's bid fails, another election will have to be held, probably next month.
Egypt court rules to keep elections on schedule
Egypt's Supreme Administrative Court has overturned a lower court
ruling that would have suspended the upcoming presidential election.
More arrests of people linked to bizarre abduction, murder case
Four neighbors of a man who authorities say abducted a Tennessee
family and killed the mother and one daughter were arrested in
connection with the case, authorities said on Friday, one day after the
man committed suicide as police closed in.
The Internet is a Strange Place
Recently I spent one afternoon of rather
laborious data analysis listening to some of David Icke’s youtube
videos. If you’re ...
Artificial stones created for skipping
From a report in The Telegraph:
Ron Long, 68, who has a personal best of 187ft (57m), has long campaigned for the use of artificial skimmers to be made legal in the sport, saying they offer “a level of predictability and reliability”.
He finally got his wish in time for next month’s Welsh Open in Llanwrtyd Wells, Powys.Green Events, better known for bog snorkeling and other quirky enterprises, decided to resurrect the contest following a three-year hiatus after officials agreed to legalize the use of artificial stones.
Mr Long, from Forden, Welshpool, Powys, three times and current world over-60 champion, said: “By allowing competitors to use artificial stones it will let the sport expand, as previously it has been held back by the illegality of removing stones from beaches and water courses.”
Health News
Autism speaks … and also squeaks
Autism spectrum disorders (ASDs) appear during
the first few years of life, impairing the brain’s development and
resulting in a ...
High-fat diet lowered blood sugar and improved blood lipids in diabetics
People with Type 2 diabetes are usually advised to keep a low-fat diet. Now, a study at Linköping University shows ...
Even Mild Traumatic Brain Injury May Alter the Brain
Even mild head injuries can cause significant
abnormalities in brain function that last for several days, which may
explain the ...
Revenue-Driven Surgery Drives Patients Home Too Early
Revenue-driven surgery and poor planning drive
some surgical patients home too early, concludes a pair of logistical
studies conducted by ...
Forty-five Amazing Examples Of HDR Photography
Here's an amazing collection of beautiful HDR photography.
Seattle library hides 1,000 books around town for young people to find
The Seattle Public Library system's annual Summer Reading Program is called Century 22: Read the Future,
and is tied in with the 50th anniversary of the Seattle World's Fair.
Young people are encouraged to scour the city's landmarks for 1,000 books hidden throughout town, and then to re-hide them for other kids to find.
Young people are encouraged to scour the city's landmarks for 1,000 books hidden throughout town, and then to re-hide them for other kids to find.
School Forfeited Baseball Game Rather Than Playing A Girl
Mesa Prep second baseman Paige Sultzbach
All second baseman Paige Sultzbach wanted to do was play in her school’s state championship baseball game tonight.David Rookhuyzen of Arizona Republic was there: more.
But because she is a girl, that won’t happen.
Sultzbach is a freshman at Mesa Preparatory Academy, which had been scheduled to play Our Lady of Sorrows Academy in tonight’s Arizona Charter Athletic Association state championship at Phoenix College.
But Our Lady of Sorrows, a fundamentalist Catholic school in Phoenix that lost twice to Mesa Prep during the regular season, chose to forfeit the championship game rather than play a team fielding a female player.
Our Lady of Sorrows school officials would not comment, but Sultzbach’s mother, Pamela Sultzbach, said her daughter and the rest of the teamreceived the news after Wednesday afternoon’s practice.
"This is not a contact sport, it shouldn’t be an issue," Pamela said. "It wasn’t that they were afraid they were going to hurt or injure her, it’s that (they believe) that a girl’s place is not on a field."
Toxic cloud of Axe Body Spray triggers fire alarm in high school locker room
A student going a little too heavy on a brand of spray-on stench popular with teens
set off the fire alarm at a Connecticut high school: “It was some kid
in the locker room using body spray and it created a cloud of mist right
underneath the sensor,” Fire Marshal Albert Santostefano told the Middletown Press.
“The mist could trip the fire alarm, steam from a shower could trip it.
It looks like he used an overabundance, and they said it was Axe Body
Spray.” Hm. How did "they" know it was Axe? Could it have been... the
smell? The awful, awful, awful smell?
Man Stole Own Bicycle Back After Spotting it on Craigslist
Danny
Lesh noticed that his stolen bike ended up for sale on Craigslist. When
police declined to intervene, Danny decided to take justice into his own
hands (or feet, in this case):After haggling over the Craigslist price, Lesh says, he asked for a test ride. The vendor agreed, and Lesh pedaled around the block back to the waiting cab. He tossed the Cannondale in the trunk and rode off. The vendor called about half an hour later, demanding Lesh return the bike and threatening to notify the police himself, though it appears that call never materialized.The DCist has the story: here | Video Clip over at NBC4 Washington
The Hashtag Tower
“The Cross # Towers constitute a three-dimensional urban community of interlocking horizontal and vertical towers. Three public bridges connect two slender towers at different levels – underground, at the street and in the sky. Catering to the demands and desires of different residents, age groups and cultures the bridges are landscaped and equipped for a variety of activities traditionally restricted to the ground. The resultant volume forms a distinct figure on the new skyline of Seoul – a “#” that serves as a gateway to the new Yongsan Business District signaling a radical departure from the crude repetition of disconnected towers towards a new urban community that populates the three-dimensional space of the city.”
Man Advertised on Billboard to Get a Job
In April, Olson paid $300 for an 8-second time slot on an electronic billboard near downtown Minneapolis. His ad was up for 24 hours, rotating with other ads on the billboard. The words "Hire Me!" appeared next to his website address and a picture of his face.And yes, he landed a job.
JPMorgan lost $13bn from value Friday, could be "tip of iceberg"
The rumor of this story was out there a month ago, but the most arrogant
man on Wall Street dismissed it. Jamie Dimon has known about the $2
billion trading loss for weeks and finally went public with the news
Thursday night after trading hours. The actual trading loss by the man known as Voldemort or "The Whale"
in London was "only" $800 million (a fraction of the value of
JPMorgan, which is a few trillion dollars) so the bad trade will not
bring down the company.
The much larger concern is what else is out there. JPMorgan's Jamie Dimon sold himself as the expert on risk. The old "trust me, I know better" routine. Just like the "trust me, I know better" crowd at Enron and later Wall Street circa 2008, they didn't know better. Dimon's strength had been his bluster. He bullied Washington and demanded that they leave him alone because he knew better. Dimon called attempts to regulate "anti-American" and he ripped into all attempts at reforming the greed culture of Wall Street.
As the week ended, more began to emerge on the JPMorgan scandal. The Chief Investment Officer, Ina Drew, previously had a reputation for being a genius with handling risk. Despite the reports that she had a reputation for being a "natural trader" she was in charge of addressing risk for the bank. This is not unlike asking a sales person to be in charge of accounting or a fox guarding a hen house. It's an obvious conflict of interest for any industry other than Wall Street.
The risk team at JP Morgan had been growing its supposed hedges in recent years, growing from a relatively small division to an increasingly large division. Profits were rolling in (which means bonus money was flowing) so nobody was going to rock the boat. If it sounds like a familiar story, it is. It's this kind of problem that triggered the Wall Street collapse back in 2008. Nobody was asking serious questions because the money faucet was flowing.
What is also curious not to mention scary about this latest loss is that the trader was not known to be a high risk person. He made lots of money for himself and for JPMorgan but he was considered to be a conservative family man, as opposed to the flashy car type of trader.
All of this now has many worried that there is more. Bloomberg reported on Friday that this may be the tip of the iceberg for JPMorgan. The theory is that if Jamie Dimon came out this early in the quarter with such bad news, there's a high likelihood that there is a lot more bad news to come.
What we should be hearing on Sunday during the morning talk shows is a strong demand for reform of Wall Street. No more apologists, no more nice guy talk and no more excuses. What we also need to hear is no more bailouts of any kind for Wall Street, especially JPMorgan. We may not be there (yet) but Washington has to be crystal clear that if they want to gamble, they need to live with the full consequences. That's how actual capitalism works. If you risk and lose, you risk and lose.
The much larger concern is what else is out there. JPMorgan's Jamie Dimon sold himself as the expert on risk. The old "trust me, I know better" routine. Just like the "trust me, I know better" crowd at Enron and later Wall Street circa 2008, they didn't know better. Dimon's strength had been his bluster. He bullied Washington and demanded that they leave him alone because he knew better. Dimon called attempts to regulate "anti-American" and he ripped into all attempts at reforming the greed culture of Wall Street.
As the week ended, more began to emerge on the JPMorgan scandal. The Chief Investment Officer, Ina Drew, previously had a reputation for being a genius with handling risk. Despite the reports that she had a reputation for being a "natural trader" she was in charge of addressing risk for the bank. This is not unlike asking a sales person to be in charge of accounting or a fox guarding a hen house. It's an obvious conflict of interest for any industry other than Wall Street.
The risk team at JP Morgan had been growing its supposed hedges in recent years, growing from a relatively small division to an increasingly large division. Profits were rolling in (which means bonus money was flowing) so nobody was going to rock the boat. If it sounds like a familiar story, it is. It's this kind of problem that triggered the Wall Street collapse back in 2008. Nobody was asking serious questions because the money faucet was flowing.
What is also curious not to mention scary about this latest loss is that the trader was not known to be a high risk person. He made lots of money for himself and for JPMorgan but he was considered to be a conservative family man, as opposed to the flashy car type of trader.
All of this now has many worried that there is more. Bloomberg reported on Friday that this may be the tip of the iceberg for JPMorgan. The theory is that if Jamie Dimon came out this early in the quarter with such bad news, there's a high likelihood that there is a lot more bad news to come.
What we should be hearing on Sunday during the morning talk shows is a strong demand for reform of Wall Street. No more apologists, no more nice guy talk and no more excuses. What we also need to hear is no more bailouts of any kind for Wall Street, especially JPMorgan. We may not be there (yet) but Washington has to be crystal clear that if they want to gamble, they need to live with the full consequences. That's how actual capitalism works. If you risk and lose, you risk and lose.
Verizon refused to help police locate unconscious man unless they paid his phone bill
Nancy Schaar at the Times Reporter:
As a result, their corporate culture gravitates toward that of a collection agency. It's inevitable, even if they try to avoid it, because that's the economic bottom line of the customer-facing part of their business. If an operator is actually having to talk to you, you must be a deadbeat or some other kind of problem.
Verizon, when asked by police to find a cellphone, suffered from a perverse blind spot: it could not see beyond the fact that the cellphone's owner owed it money.
A 62-year-old Carrollton area man was found unconscious and unresponsive Thursday morning during an intense search overnight by Carroll County sheriff deputies, an Ohio State Highway Patrol trooper and the patrol’s airplane. [Sheriff] Williams said he attempted to use the man’s cell phone signal to locate him, but the man was behind on his phone bill and the Verizon operator refused to connect the signal unless the sheriff’s department agreed to pay the overdue bill. After some disagreement, Williams agreed to pay $20 on the phone bill in order to find the man.Though this case is from a while ago—operators are now made available to assist emergency services—it got me thinking about what makes carriers and telcos such horrible companies to deal with once you're a customer. It's because accepting a long term cellular contract is a lot like going a couple of grand in debt.
As a result, their corporate culture gravitates toward that of a collection agency. It's inevitable, even if they try to avoid it, because that's the economic bottom line of the customer-facing part of their business. If an operator is actually having to talk to you, you must be a deadbeat or some other kind of problem.
Verizon, when asked by police to find a cellphone, suffered from a perverse blind spot: it could not see beyond the fact that the cellphone's owner owed it money.
Microsoft to go carbon neutral this summer
Definitely a good trend for big business.
Microsoft has pledged to help protect the environment by reducing its carbon footprint.
From July 1st 2012 its data centers, software development labs and office buildings would all be carbon neutral, the firm announced.
Environmental groups have called on the technology industry to adopt more renewable energy sources.
Rivals Facebook and Google have pledged to move away from coal-powered data centres.
UN adopts 'land grab' guidelines
UN adopts 'land grab' guidelines
The United Nations adopts global guidelines to protect local
communities when rich countries buy up land in developing nations.
Nature and culture loss 'linked'
Nature and culture loss 'linked'
A study by US researchers highlights a link between the loss of
biologically rich areas and a decline in linguistic and cultural
diversity.
Ok, now what are you going to do with it?
You've all heard of the 'tiger by the tail' proverb ... well ...
Saturday, May 12, 2012
The Daily Drift
It's Friday by the way. No, wait, that was yesterday. Oh, well.
Today's readers have been in:
Bratislava, Slovakia
Hong Kong, Hong Knog
Oslo, Norway
Kiev, Ukraine
Dhaka, Bangladesh
Vantaa, Finland
Kuala Lumpur, Malaysia
Marrakesh, Morocco
Dublin, Ireland
Moscow, Russia
Antwerp, Belgium
Amsterdam, Netherlands
Lagos, Nigeria
Singapore, Singapore
Bangkok, Thailand
Montevideo, Uruguay
Cork, Ireland
Athens, Greece
Groningen, Netherlands
Jakarta, Indonesia
Petaling Jaya, Malaysia
Limerick. Ireland
Zurich, Switzerland
Puchong, Malaysia
Brussels, Belgium
Bern, Switzerland
George Town, Malaysia
Nyon, Switzerland
Kota Kinabalu, Malaysia
Cebu City, Philippines
Klang, Malaysia
Tangerang, Indonesia
Hong Kong, Hong Knog
Oslo, Norway
Kiev, Ukraine
Dhaka, Bangladesh
Vantaa, Finland
Kuala Lumpur, Malaysia
Marrakesh, Morocco
Dublin, Ireland
Moscow, Russia
Antwerp, Belgium
Amsterdam, Netherlands
Lagos, Nigeria
Singapore, Singapore
Bangkok, Thailand
Montevideo, Uruguay
Cork, Ireland
Athens, Greece
Groningen, Netherlands
Jakarta, Indonesia
Petaling Jaya, Malaysia
Limerick. Ireland
Zurich, Switzerland
Puchong, Malaysia
Brussels, Belgium
Bern, Switzerland
George Town, Malaysia
Nyon, Switzerland
Kota Kinabalu, Malaysia
Cebu City, Philippines
Klang, Malaysia
Tangerang, Indonesia
Today in History
| 254 | St. Stephen I begins his reign as Catholic Pope. | |
| 1588 | King Henry III flees Paris after Henry of Guise triumphantly enters the city. | |
| 1641 | The chief advisor to Charles I, Thomas Wentworth, is beheaded in the Tower of London | |
| 1780 | Charleston, South Carolina falls to British forces. | |
| 1851 | The Tule River War ends. | |
| 1863 | With a victory at the Battle of Raymond, Mississippi, Union General Ulysses S. Grant closes in on Vicksburg. | |
| 1864 | Union General Benjamin Butler attacks Drewry's Bluff on the James River. | |
| 1865 | The last land battle of the Civil war occurs at Palmito Ranch, Texas. It is a Confederate victory. | |
| 1881 | Tunisia, in North Africa become a French protectorate. | |
| 1885 | In the Battle of Batoche, French Canadians rebel against the Canadian government. | |
| 1926 | The Airship Norge becomes the first vessel to fly over the North Pole. | |
| 1932 | The body of Charles Lindbergh's baby is found. | |
| 1935 | Alcoholics Anonymous is founded in Akron, Ohio by "Bill W.," a stockbroker, and "Dr. Bob S.," a heart surgeon. | |
| 1940 | The Nazi conquest of France begins with the crossing Muese River. | |
| 1942 | The Soviet Army launches its first major offensive of the war, taking Kharkov in the eastern Ukraine. | |
| 1943 | Axis forces in North Africa surrender. | |
| 1949 | The Berlin Blockade ends. | |
| 1969 | Viet Cong sappers try unsuccessfully to overrun Landing Zone Snoopy in Vietnam. | |
| 1975 | The U.S. merchant ship Mayaguez is seized by Cambodian forces. |
Charting the rise of stupidity
Smart v. Stupid: As America grapples with a long-term decline, we have only Ronald Reagan to blame.
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