Author: Serkadis

One of the main appeals of Last.fm is all the data it keeps collecting on your music habits. For numbers and stats geeks, Last.fm is music heaven giving you access to all sorts of information you’d have no other way of keeping track of. For the hardcore Last.fm users and said stats geeks, the music site has just introduced a feat… (read more)

Take a good look at your I-Pass Transponder; thousands of them failed to work last year.

The Toll Authority says 200,000 transponders went dead in 2009. One million units are expected to stop working over the next three years.

People who bought their transponders in the late 90’s should exchange them for new ones, which you can do that at any Jewel grocery store or a Tollway Oasis customer service center.

Read the original article from FOX Chicago News.

Distributed via Chicago Press Release Services

David alerts us to behavioral economist Dan Ariely’s take on the NY Times’ plan for a paywall, noting that people are unlikely to pay for what they’ve been able to get for free in the past:

The main problem of this approach is that over the years of free access, the New York Times has trained its readers for years that the right price (or the Anchor) is $0 — and since this is the starting point it is very hard to change it….

Because we’re not very good at figuring out what we are willing to pay for different products and services, the initial prices that new products are presented with can have a long term effect on how much we are willing to pay for them. We basically can’t figure out how much pleasure the New York Times gives us in terms of $ — so we go back and pay the same price we have paid before. This means that getting people to pay for something that was free for a long time will be very challenging, but it also means that if the New York Times were to offer some new service at the same time that they start charging, they might be more likely to pull it off.

Indeed. It’s a point that we’ve tried to make in the past as well. It’s nearly impossible to successfully charge for something that was once free, but it’s absolutely possible to charge for something new, something scarce, that is separate from (or perhaps enhanced by) the free stuff. That’s why we had hoped the NY Times would be smart enough to set up a business model around offering something else of value, rather than just a paywall, but it chose to go in the other direction.

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DeviantART itself is an online community, but the new Groups feature will enable users to build and manage their own smaller gatherings, with specific or more of a general theme. Launched as a Beta service, it has already recorded more than 25,000 group registrations in the first four days, with 800,000+ participants.

Users will… (read more)

Anger over red-light cameras is spreading. Some Chicagoans took part in a national day of protest Sunday.

Dozens demonstrated at the intersection of Addison and Western.

Opponents say the traffic cameras do not improve safety and that cities install them to raise revenue.

“As you pull up to the intersection you have a choice, and it’s either to slam on the gas or slam on the brakes. After you get more than one ticket you choose to slam on the brakes and people get rear-ended,” said protestor Robert Garrett.

Five states have banned red-light cameras, and Illinois might be next.

Two bills concerning the cameras are currently under consideration in Springfield.

Read the original article from FOX Chicago News.

Distributed via Chicago Press Release Services

JOLIET — Drew Peterson’s problems are piling up, as the appellate court shot down the dismissal of a felony gun charge a local judge dropped more than a year ago.

Three appellate judges unanimously agreed to reverse Will County Judge Richard Schoenstedt’s decision to dismiss the unlawful use of a weapons charge Peterson was arrested on in May 2008.

Peterson’s attorneys had argued that their client was the victim of a vindictive and selective prosecution, and asked Schoenstedt to force the state’s attorney’s office to hand over confidential communications and files so they could prove it.

Schoenstedt bought into the idea and instructed prosecutors to surrender internal documents to Peterson’s defense team. Assistant State’s Attorney John Connor refused to do so, prompting Schoenstedt to dismiss the case in November 2008.

Two of Peterson’s attorneys, Joel Brodsky and Andrew Abood, went before the appellate court in Ottawa last month to argue that Schoenstedt’s dismissal was the right move.

They lost, and now Peterson, who is already in jail on murder charges in connection with the death of his third wife, Kathleen Savio, has the weapons charge hanging over his head again as well.

The weapons case stemmed from Peterson, a former Bolingbrook police sergeant, allegedly possessing an assault rifle with a barrel shorter than the state-mandated 16 inches.

His attorneys claim he had a right to own and carry the weapon, as he toted it while working with the Bolingbrook Police Department’s SWAT team.

The weapon, along with other firearms, were seized by the state police when they executed a Nov. 1, 2007, search warrant on his house just days after his fourth wife, Stacy Peterson, disappeared.

About three months later, Peterson triumphed in court and won the return of his weapons. The state police responded by revoking Peterson’s firearm owner’s identification card.

Undaunted, Peterson’s lawyers asked that the weapons be turned over to his son, Oak Brook cop Stephen Peterson. The day before Schoenstedt was to rule on this request, the state police swooped in to pick up Peterson on the weapons charge.

While the appellate court sent the case back to Will County, it was not clear when it will make its way in front of a judge. A lengthy hearing to determine what hearsay evidence will be allowed at Peterson’s murder trial was expected to wrap up Wednesday. The start of the murder trial itself remains unknown.

Also, prosecutors successfully maneuvered to have Schoenstedt, the judge who dropped the gun charge, removed from Peterson’s murder case.

The gun case apparently will return to Schoenstedt’s court call, but it remains to be seen if prosecutors will move to get it heard by another judge.

Charles B. Pelkie, the spokesman for the state’s attorney’s office, declined to comment on the status of the weapons case. Brodsky, the longest serving of Peterson’s four attorneys, failed to return calls for comment.

Read the original article from WBBM News Radio.

Distributed via Chicago Press Release Services

CHICAGO  — An argument at a South Loop bar turned violent Saturday night when a man who was refused entry into the establishment allegedly fired shots into the bar and struck a woman before fleeing the scene.

The shooting happened about 2:20 a.m. on the 400 block of South Wells Street, according to police News Affairs Officer Hector Alfaro.

Officers responded to the Cactus Bar & Grill at 404 S. Wells when a security guard at the bar called to report a battery in progress, said Central District Lt. Charles Flynn.

A gunman had exited a white Range Rover SUV and discharged 8 or 9 shots into the bar for not being let in, Flynn said. The man, possibly with other alleged offenders, then fled westbound on Van Buren Street.

A 26-year-old woman later arrived at the Loyola University Medical Center with a gunshot wound to her right buttock stemming from the shooting incident at the bar, Flynn said.

The woman told police she was exiting the bar and started running towards her vehicle after seeing a man lying on the ground and a man arguing with security guards.

While running toward her car, she realized she had been shot, Flynn said.

The woman, the only person shot during the incident, was in good condition following the shooting and was treated and released, he said.

Police recovered five .45 caliber shell casings from the sidewalk and discovered a bullet hole in a shattered car window nearby, Flynn said.

It was not immediately clear how many total offenders were involved in the shooting, Flynn said.

No one was in custody Sunday afternoon, and police are looking for the white Range Rover used in the shooting.

Harrison Area detectives are investigating.

Read the original article from WBBM News Radio.

Distributed via Chicago Press Release Services

A 29-year-old Shorewood man died in an automobile crash on Chicago’s Northwest Side early Saturday after his vehicle struck a light pole at a high rate of speed.

The victim was identified as Jamie Solivan, 29.

The crash happened when his vehicle struck a light pole in the 5400 block of West Belmont Avenue around 2:45 a.m., police officer Michael Fitzpatrick said.

The man was taken to Illinois Masonic Medical Center where he was pronounced dead at 3:42 a.m., according to the Cook County medical examiner’s office.

Am autopsy revealed that Solivan died from multiple injuries due to the crash, and ruled his death an accident, according to the medical examiner’s office.

The police Major Accident Investigation Unit is investigating.

Distributed via Chicago Press Release Services

Article Tags: A Moment Of Clarity, AfricaGate, Himalayan Glacier Data

‘Every error exaggerated the impact of change’

The UN body that advises world leaders on climate change must investigate an apparent bias in its report that resulted in several exaggerations of the impact of global warming, according to its former chairman.

In an interview with The Times Robert Watson said that all the errors exposed so far in the report by the Intergovernmental Panel on Climate Change (IPCC) resulted in overstatements of the severity of the problem.

Professor Watson, currently chief scientific adviser to the Department for Environment, Food and Rural Affairs, said that if the errors had just been innocent mistakes, as has been claimed by the current chairman, Rajendra Pachauri, some would probably have understated the impact of climate change.

The errors have emerged in the past month after simple checking of the sources cited by the 2,500 scientists who produced the report.

The report falsely claimed that Himalayan glaciers would disappear by 2035 when evidence suggests that they will survive for another 300 years. It also claimed that global warming could cut rain-fed North African crop production by up to 50 per cent by 2020. A senior IPCC contributor has since admitted that there is no evidence to support this claim.

The Dutch Government has asked the IPCC to correct its claim that more than half the Netherlands is below sea level. The environment ministry said that only 26 per cent of the country was below sea level.

Source: timesonline.co.uk

Read in full with comments »   

pac·i·fism n.
1. The belief that disputes between nations should and can be settled peacefully.
2. a. Opposition to war or violence as a means of resolving disputes.
b. Such opposition demonstrated by refusal to participate in military action

I did finally get around to watching ‘Charlie Wilson’s War’ this weekend and rather enjoyed it. (Though historically, it was strange time to watch it as Charlie Wilson kept bringing up John Murtha and both had died last week…)

What struck me, aside from my previous Charlie Wilson-Ollie North comparison, was a specific scenario to present to pacifists. For some reason when arguing that war is a necessary evil with a pacifist…the ‘what about Hitler and slavery’ argument never seems to get an answer. But Charlie Wilson’s War presented such a detailed glimpse of a tragedy that could have been much worse without million of dollars of Arms…yet another instance in which weapons saved innocent lives.

So, if one of the Friend’s Meeting Houses find themselves being targeted by enemy helicopter guns and rockets. Find their children being enticed into the fields by toy mines and having body parts blown off or worse being killed. Having the women raped in front of their children and then their children’s throats cut in front of their parents. Having their pregnant women bayoneted through their pregnant stomach and left to die… And then someone comes and offers them weapons that would stop the enemy. Would they refuse? Would they remain lambs for the slaughter and to what avail? Similarly, what would they have had the US do in Somalia, or Rwanda, or Bosnia and Herzegovina. How is it more civilized to allow people to be massacred?

I guess I’m just unsure about the base ideology of pacifism. Are they pacifists because they don’t have the right to harm something? Do they not believe in self defense? Do they believe (in the above scenario) the Afghans not doing anything would have made the Soviets rethink their atrocities and go home? I just don’t understand the premise. I understand avoiding war at all costs, but I don’t understand pretending we live in a world where it isn’t necessary…

The Windows Mobile press conference is coming up soon. So while we wait, I think everyone should join our chat room that is located on our very nice tool bar below. Surur and I are currently on there to chat with you, so join the conversation and tell us what you are thinking of and how you like the sexy new K01 that I will get before anyone .

Well guys we are waiting for you to join, do not leave us by our selves.

The Yahoo Microsoft deal is one step closer to becoming a reality after several months of slow progress. The European Commission, which regulates major mergers and business deals in the EU, has set a February 19 deadline for itself to decide on the matter. The EC is largely expected to approve the search deal under which Microsof… (read more)

 

Below are some more pictures from HTC’s stand at Mobile World Congress 2010.

 

  

  HTC sponsored the Columbia cycle team and did quite well publicity-wise from it.

Stay tuned for more Mobile World Congress coverage here.

That’s the play put forth by Bill Witherell of Cumberland Advisors, who argues that Portugal is definitely no Greece:

Portugal’s economy is only two-thirds the size of Greece’s small economy and accounts for just 2% of the Eurozone economy.  Portugal suffered a more severe recession than Greece last year – GDP declined by an estimated 2.9%, more than double the 1.1% reduction for Greece. This set back the impressive progress the government had been making in reducing the deficit, which had improved in 2007 and 2008 to less than 3% of GDP, as compared with 6.8% in 2005.  The deficit jumped to 9.3% of GDP in 2009 (compared with Greece, 12.7%; Ireland, 12.5%; Spain, 11.4%, and Italy, 5.3%).
 
Going forward, the economic forecast for Portugal is for a return to positive growth this year, in contrast to the further declines projected for Greece, Spain, and Ireland.  Portugal did not suffer from a housing bubble, like Spain and Ireland. Its banking system is sound. Productivity growth is above the EU average, which should improve the economy’s competitiveness and help Portuguese firms take advantage of the weaker euro. The government has been carrying out a number of structural reforms. The government has a responsible program in its 2010 budget for reversing the recent fiscal deterioration.  Further restrictive fiscal steps will be necessary in 2011 and 2012.  Polls indicate that the government seems to have the needed support of a strong majority of the population to continue with responsible fiscal policies.
 
Another reason for investors to differentiate between Portugal and Greece is Portugal’s easier funding schedule, with gross financing requirements in 2010 being only a third of those faced by Greece. Between March 10 and May 10 Greece has some 21 billion euros in redemptions and coupon payments coming due. Together with the fact, as noted above, that Portugal’s debt-to-GDP ratio is substantially less than that of Greece, this longer-maturity schedule means that Portugal has more time to resolve its fiscal problems. Also taking into consideration the greater credibility of Portugal’s government, and its statistics, we agree with BCA’s conclusion that “Portugal is nothing like Greece.”
 
Our conclusions for investment strategy are that Portuguese bonds, with real yields above 4%, look attractive, whereas Portugal’s equities probably will not outperform the Eurozone average this year.  Thus far in February, comparing MSCI indexes for national equity markets, Portugal’s equity market is down 7 %, which is better than the 11.8 % decline for Greece and the 8.6 % decline for Spain, but more adverse than the declines in Italy, -5.7 %; Ireland, -5 %; and the entire Eurozone, -5.7 %.  Portugal’s equities are likely to encounter headwinds due to the expected tough fiscal policies during the next three years. Equities in the stronger Eurozone markets – Germany, France, Netherlands, and Belgium – are likely to perform better, with their export industries more able to take advantage of the trade opportunities resulting from the weaker euro.  

Join the conversation about this story »

See Also:

• Portugal Fails To Pass Austerity Budget, Prays To God It Can Access More Debt
• By Standing Behind Greece, Europe Just Made Portugal The New Sacrificial PIIG
• MOODY’S: Greece And Portugal On The March To A ‘Slow Death’

The Greek crisis is far from solved.  More intrigue to come this week. – BC

 

 

Niall Ferguson: A Greek Crisis is Coming to America – Posted by TraderMark – Oh that Niall!  Always stirring up trouble… Today might be the most entertaining set of posts I’ve ever put together – what a smorgasbord. – Fund My Mutual Fund

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more on situation is Greece – Between Dire and Disastrous -  Thoughts from the Frontline – By John Mauldin 
A Path-Dependent World
Between Dire and Disastrous
A National Suicide Pact
It’s More than Just Greece

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Will markets call EU bluff on Greek rescue? – By Ambrose Evans-Pritchard – Greek bail-out accord lacks substance and finance’s poker players may soon call its bluff. – Telegraph.co.uk

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Greece Outlaws Cash Transactions Above 1500 Euros, Unveils New Taxes – Michael Shedlock – In an attempt to rein in the shadow economy and collect more tax revenue, Greece outlaws cash transactions greater than 1500 Euros. Please consider Greek Finance Minister unveils tax reform, wage policy. – MISH’S Global Economic Trend Analysis

 

 

consumption: What’s wrong with these pictures? – … From 1960 to 2000, consumption’s share of output averaged 65.6%, fluctuating with a standard deviation of only 1.8%. … As the chart below shows, one consequence of U.S. consumer’s great borrowing and spending spree was a “breakout” of consumption’s already massive share from its long-held “trading range.” Since 2006, consumption has accounted for over 70% of GDP. .. – Annaly Salvos 
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important about monetary velocity – Why Are Companies Hoarding Cash? – Posted by Larry Doyle – Sense on Cents

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  + 

You Still Think U.S. Treasuries are Safe? – by Paco Ahlgren – Bernanke is determined to hold down the long end of the yield curve with the economic wizardry described by the shamanistic (and completely ridiculous) phrase known as quantitative easing. And let’s have three cheers for all those die-hard, apple-pie-eating, flag-waving morons out there who actually believe the federal government can possibly commit $24 trillion and expect an outcome other than hyperinflation. – The Bottom Violation

and
paco1  Massive U.S. Debt, No Consumer Spending, Government Near Bankruptcy. How Could Treasuries Go Higher? – Paco Ahlgren – … But they still haven’t got the message: nobody wants to borrow. And more importantly: nobody wants to lend. Still, that tidal wave of cash has more potential energy than a uranium atom convention, and Satan himself knows I don’t want to be anywhere near when that little sweetheart of a catastrophe violates its restraints. … – THE BOTTOM VIOLATION

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has opinions – GURU OUTLOOK: DAVID GERSTENHABER & THE “CONTAINED DEPRESSION” – David Gerstenhaber is a former Tiger Cub and President of Argonaut Capital Management.   His distinguished pedigree is of the long line of successful traders that once traded under Julian Robertson (see Robertson’s guru outlook here).  His global macro strategy fund has never lost money since its founding in 2000 and has averaged an annual return of 19%. –
The Pragmatic Capitalist

video: MOSLER: JUST PRINT MORE MONEY -  Concerns over the fiscal crisis in Greece are weighing on the markets this week, but Warren Mosler, founder of AVM Securities, says the answer to Europe’s problems could be as simple as printing more money. He also maintains the Federal deficits are a non-issue because the US government, with their monopoly on money, can never go bankrupt. – The Pragmatic Capitalist

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Is the Bond Market Screaming Inflation? – by The Housing Time Bomb – Uh oh… 
Did anyone catch the 30 year bond auction yesterday? If not, take a look (warning, this is not for the faint of heart): – Seeking Alpha

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Forget Greece, the US Almost Had a Failed Treasury Auction – by Graham Summers    – … On Wednesday the US offered $16 billion worth of 30-year Treasuries (US debt that will mature in 30 years). Before we get into the details of how much of a disaster the auction was we’re going to do a brief review of how US debt issuances work. … – Gains, Pains, & Capital

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Fear Takes the Wheel – Petrer Schiff – Over the past three or four years a strange phenomenon has developed in the global investment markets. With some exceptions, many asset classes, in particular domestic and foreign equities, commodities, and foreign currencies have tended to move in the same direction on a day to day basis. …   However, few recall that this pattern is relatively new in the annals of financial history. Fewer still realize the reason for the current anomaly. From my perspective the most logical explanation is fear, which has become global, pervasive, and persistent. – EuroPacific Capital

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China’s Growth May Top 11% Even as Officials Rein in Lending – China’s economy, the world’s third biggest, may expand at a faster pace in 2010 even as officials cool lending to restrain inflation and avert asset bubbles.  Goldman Sachs Group Inc. maintained its forecast for 11.4 percent growth after the central bank raised reserve requirements for lenders on Feb. 12. That compares with an 8.7 percent expansion last year. – Bloomberg BusinessWeek

Considering the recent market turbulence, we thought we’d check in on Doug Short’s (dshort.com) fantastic historical charts comparing the bad bear markets.

As it happens, we’re roughly at the point where the Nikkei began another big leg down.

Of course, our bear and their bear have looked pretty different, so we’re not sure how much stock to put in any similarities that the eye might perceive. Your call.

Join the conversation about this story »

See Also:

• Japan’s New Kamikaze Finance Minister Is On A Mission To Blow Up The Yen, And Finally Let The Nikkei Surge
• Bank Of Japan Pressured To Let Loose Even More Liquidity As Crushing Deflation Deepens
• Japan’s Shrinking Population Puts It On The Ratings Downgrade Path To Banana Republic Status

MATTOON — The city of Mattoon is facing a projected revenue shortfall of $660,000, according to city officials.

The decrease is estimated in the city’s share of taxes assessed on sales, income, usage, personal property replacement and utilities.

The city’s share of income tax receipts from the state is down $240,000, while a recent projection has sales taxes declining by $200,000, Treasurer Preston Owen said.

“Our revenues are down across the board. The figure for sales tax revenues might be adjusted, but it all depends on the economy,” Owen said. The city is awaiting sales tax revenue figures for December and the Christmas shopping season.

The city’s budget totals about $15 million.

While a downturn in sales is reducing a major source of city revenues, city hall is considering a land sale to help shore up the budget.

New Mattoon City Administrator Sue McLaughlin confirmed the city is looking at selling property at Lake Paradise. This involves about 100 acres west of the Mattoon Water Treatment Plant, which was once
considered for a golf course, Owen said.

The city now has a farm rental agreement on that property.

A sale of that land could raise $600,000 or more, based on some farmland prices paid in Coles County.

That could get the city through April 30, the last day of the 2009-10 fiscal year, but the revenue shortage could continue to drain city coffers.

McLaughlin said proposals for saving money include reducing energy, paper and fuel expenditures and increasing permit fees.

If the deficit worsens, staff reductions will be studied.

“The employees have to realize to resolve this problem we all have to work together,” said Tim Gover, Mattoon finance commissioner.

“We’re trying to be realistic about the situation. We’re not trying to sugarcoat it.”

Union contracts, for police, firefighters, public works and finance department, are up for renewal this year.

“We’re willing to work with them, short of getting layoffs,” said Jeff Ratliff, president of AFSCME Local 3821, which represents public works and finance department employees.

“We’re to the bare bones now. We are doing maintenance, but routine work for preventing some problems ahead is not getting done like it was before.”

Read the original article from Herald & Review.

Distributed via Chicago Press Release Services

With the published specs the Toshiba K01 is set to be a real monster.  We managed to grab these pictures earlier of the device behind glass.

Front

Side view after the break.

Side.

Its actually pretty thin for a slider.

Stay tuned for more from MWC.