Category: News

Two hundred thousand gallons per day of Gulf crude are leaking from a hole 5000 feet under the water’s surface in the wake of the still mysterious destruction of British Petroleum’s Deepwater Horizon drilling platform last week . How and when it will be stopped is entirely unknown. The mayonnaise-like oil is being blown ashore into the nursery for shrimp for the whole region and the home of hundreds of the other species. Welcome to what may turn out to be the worst single human-caused environmental disaster ever. (Unless you regard global warming in general as a single event. Semantics.)

This thing is going to need a name. The Exxon Valdez incident was a spill – there was a finite amount of oil aboard the ship. A lot of oil: 11 million gallons (40 million liters). The new one in the Gulf of Mexico could blow past that, depending on whether present efforts to close the valve or drill a relief well work.

The fact that we called it the “Exxon Valdez” incident clearly indicates the responsible (if not guilty) party involved. So, though I like the moniker “Spill, Baby, Spill” from a political point of view, it doesn’t lay any blame and this thing is not a spill. It’s a leak, and BP leased the rig from Transocean LTD, the world’s largest offshore drilling contractor. I think the responsibility has yet to be determined. If you rent a car, and wipe out a family in an accident because the steering was faulty, is it your fault or the car manufacturer’s? It may take some time, or even never be known, what happened a week ago to cause this tragedy.

The name of the rig was the Deepwater Horizon, but that doesn’t convey ownership or responsibility. Will this become known as the “BP Deepwater Horizon Spill”? The “Transocean/BP Leak”? The media seem to be stuck on “spill” and so I bet that will be in the name long term…and it will take a very long time to assess responsibility here.

My heart goes out to the families of the 11 lost on the rig, and to the thousands of fishermen and others whose livelihoods are in peril.

We’ve suspended new offshore drilling until we have understood this incident better. And no doubt a new debate about offshore drilling will ensue. This has certainly put the lie to those who claim that new modern drilling rigs are far safer than in the past, something even President Obama was saying as recently as April 2. Sigh.

Within the debate about the deficit, there is another debate about timing. If public debt does trigger a financial crisis, it won’t be tomorrow. It won’t be next year. It probably won’t be in five years. So what is everybody doing running around screaming about the fierce urgency of VAT?

Here’s Bruce Bartlett’s answer:

What I expect is that when there is the inevitable flare-up in
financial markets as bond prices crash, the dollar takes an unexpected
dip, the price of oil shoots up or whatever that Congress and the White
House will solemnly vow to cut the deficit because it will be the one
thing that everyone will be able to agree upon that might help and at
least won’t hurt. Everyone will go out to Andrews Air Force Base and
after weeks of intense negotiations announce that a deal has been
struck to deal with the crisis.

Republicans will inevitably agree
to some modest tax increases, Democrats will agree to trim Medicare and
Medicaid, and both sides will promise that discretionary spending will
be slashed.

A VAT could take a decade to set up and index until you’re locked in at a long-term rate of 8 or 10 percent. But America’s not very good at dealing with slow-moving crises, even with slow-moving solutions. We’re much better at waiting until a crisis happens, acting quickly, and then putting together commissions to find out why nobody saw it coming.

This week’s NYT Magazine cover story, penned by Wired’s Gary Wolf, is about people who obsessively collect data on themselves—how much they eat or sleep, how happy they feel, etc. Are numbers the path to a happier life? More »

Gregory T. Huang wrote:

The big news in local academic circles this week is that University of Washington president Mark Emmert is leaving after almost six years to become head of the National Collegiate Athletic Association (NCAA), based in Indiana, effective November 1. The move surprised many in the academic and business communities.

Emmert, 57, has a reputation as a charismatic leader who has been successful at fundraising and recruiting top faculty. He is also a sports enthusiast, and has put major resources into improving the UW football program, among other things. One of his main responsibilities at the NCAA will be meeting with university presidents on athletic policies.

But what about his impact on the Seattle business community? As the news starts to sink in, Luke and I have begun asking local leaders what Emmert’s legacy will be on the innovation scene around Seattle and in Washington, and how the region will move forward.

Emmert was instrumental in providing support for the unorthodox hiring of an entrepreneur and venture capitalist, Linden Rhoads, to be the UW’s senior-most commercialization officer in the summer of 2008. Emmert has also been using his bully pulpit to educate community leaders on UW’s potential to become an “entrepreneurial university,” over the past 12 months.

Earlier this week, at the UW’s Business Plan Competition, Connie Bourassa-Shaw of the UW’s Center for Innovation and Entrepreneurship noted that Emmert’s leadership helped provide a vital endorsement that said startup activity was not just OK, but desirable, on campus. Under Emmert’s watch, there haven’t been any major controversies that put the academic traditions of research and teaching in conflict with the desire to make those ideas into practical products that create jobs and economic growth.

“Mark has been an excellent president in many ways. He will be a superb head of the NCAA. This is a huge loss for UW,” said Ed Lazowska, a professor of computer science and engineering at the school, in an e-mail. “At the same time, I feel jilted. Those of us who have spent large parts of our careers at UW feel a great loyalty to the institution—it’s about UW, not about us.”

He continued: “Mark had a good relationship with the VC/entrepreneurship community. He clearly ‘got it’ and he liked hanging out with those folks. It used to be that I was the only UW person at the holiday parties hosted by Jon Roberts, Nick Hanauer, etc. Then there was Mark. Now there’s Linden [Rhoads] too.”

Rhoads, the vice provost of the UW Center for Commercialization, says Emmert’s impact is measured by the people he has helped recruit.

She wrote in an e-mail: “President Emmert will leave a university led by new and talented leaders with the critical mass to adapt to a changing environment and keep the UW vital, and on the vanguard of even the most prestigious research universities. These appointments ensure a legacy that will be serving UW well for years after President Emmert starts sitting courtside at the Final Four. Our commercialization team has been able to make big changes quickly with support from relatively new Deans of Engineering, Law, Nursing, and energetic and sophisticated leadership in the Office of Research, Sponsored Projects, and Advancement. This month, Provost [Phyllis] Wise is in the midst of recruiting three new deans, including a Dean for the new College of the Environment. She’s led a campus-wide survey and dialogue on our values and what we need to do to position the UW to be an increasingly important, relevant place over the next decades. Everyone knows about the UW’s successful fund-raising campaign and President Emmert’s accomplishments with respect to our endowment. President Emmert is also leaving the UW with great people in place.”

I’m sure many others in the innovation community outside of UW will have thoughts on what the transition will mean for entrepreneurship, and state and local businesses. I hope to have more on this soon.

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UNDERWRITERS AND PARTNERS

Erin Kutz wrote:

Idenix Pharmaceuticals (NASDAQ: IDIX), a Cambridge, MA-based developer of anti-viral drugs, has priced an offering of 6.46 million shares of its common stock at $4.35 per share, an SEC filing revealed. Thomas Weisel Partners is acting as the sole book-running manager of the deal, which will bring in net proceeds of about $26.2 million to Idenix, according to a company announcement. The funding will go to general corporate purposes, research and development expenses, and potential acquisitions.

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by Daniel J. Weiss

This post was co-authored by Susan Lyon.

I was out
driving/just a taking it slow
Looked at my tank/ it was reading low
Pulled
in a Exxon station/out on Highway One
Held up without a gun
Held up
without a gun

– Bruce
Springsteen

Springsteen’s
song could not be more true today. Big Oil is once again riding high oil prices
to large profits (see below) while American consumers get stuck with a $2.7
billion gasoline bill in the first quarter of 2010 due to higher oil prices.
But the problems with oil go beyond these companies’ profits. Rising oil prices
also add more filthy lucre to the coffers of
hostile regimes, including Iran.

Meanwhile,
the Gulf of Mexico is suffering a huge oil
spill while taxpayers spend billions of dollars paying for tax
loopholes for Big Oil. And Big Oil spends record
amounts of money to pressure Congress to cement these loopholes in place and
defeat clean energy legislation. Adding injury to insult, big oil opposes energy
and global warming legislation that would reduce our reliance on
oil.

Enough is
enough. We need Congress to stand up to Big Oil and pass legislation that
addresses the problems with oil profits and oil use. Sens. John Kerry (D-Mass.),
Lindsey Graham (R-S.C.), and Joe Lieberman (I-Conn.) are working on legislation that
would reduce oil dependence and put a declining limit and rising price
on carbon. These measures would reduce our dependence on oil, increase
national security, create jobs, and cut pollution.

Mo’
prices, mo’ problems

U.S. crude
oil prices rose from $31.76 per
barrel in January 2009 to $85.17 by April 29, 2010 after a price slump at
the end of 2008. This is an increase of nearly 160 percent over a 15-month
period. The Energy Information
Administration recently predicted that oil prices will rise to above an
average of $81 per barrel by this summer while average gasoline prices will
likely exceed $3.00 per gallon this spring. Drivers will pay 17 percent more for
gas compared
to summer 2009—$174 million per day, or an average of $602 per household
annually. Energy price volatility like this hurts
consumer and business investments, causing families to delay buying a car
and spend less on buying or upgrading their homes. Businesses also cut
investments, while profits surge in the oil and gas
industry.

While higher
prices brought higher profits to Big Oil, they also brought higher gasoline
prices that cost American consumers millions during the first quarter. A CAP
analysis determined that higher oil and gasoline prices forced Americans to
spend $2.7
billion more on gasoline during the first quarter compared to what they
would have spent had prices remained steady after the first
week.

Big Five:
We’re in the money

Much of the
U.S. economy is slowly recovering from a deep recession, but oil companies
continue to prosper. The big five oil companies—BP, Chevron, ConocoPhillips,
ExxonMobil, and Shell—announced huge first quarter profits—four of the five
companies announced profits larger than analysts predicted.
As the chart below shows, big oil saw profits in the first quarter of 2010 that
far eclipse analysts’ projections and are significantly higher than 2009 profits
as well.

Big five
oil company profits for the first quarter of 2010 vs. first quarter
2009

bp’s quarter report

BP’s
2010 first quarter profits were $5.6 billion, a 135 percent increase over
the first quarter of 2009. This profit was 50 percent higher than predicted by
The Financial Times. Shell announced that its profits had risen by 49 percent since the first quarter of
2009. Chevron’s profit was $4.6 billion, a 156 percent increase, while
ConocoPhillips had $2.1 billion in profits. The world’s largest private oil
company, ExxonMobil, had a first quarter profit of $6.8 billion, which was 38
percent more than 2009.

Iran:
Thanks for high oil prices

Higher oil
prices also benefit nations that are hostile to U.S. interests—even if we don’t
purchase any oil from them—such as Iran. Every $1 increase in the price of oil
provides an additional $1.5 billion to Iran annually.

Conversely,
adoption of a shrinking limit on carbon pollution that reduces it by 80 percent
by 2050 would reduce the use of oil and lower its price, costing
Iran approximately $1.8 trillion in lost oil revenues over the next 40
years—over $100
million a day. These petrodollars fund and prop up unfriendly
regimes, enabling them to support
terrorists in other nations.

Sea of
fire

Oil companies
deserve to earn a profit since oil exploration and development can be
financially and technically risky business. At the same time, though, they must
produce this oil in a safe and environmentally sustainable manner. Yet despite
rhetoric
to the contrary about advances in environmental safeguards, the spill off
the Louisiana coast shows that offshore oil development still poses a threat to
its workers and risk to the ocean and coastal
environment.

BP owns the
oil rig that exploded and sunk in the Gulf of Mexico last week, causing what CNN reports officials say “could become one of worst spills in U.S. history.”
Tragically, there are 11 missing rig employees who are presumed dead. The well continues to
leak 210,000 gallons of oil per day into the Gulf of Mexico—five times the original
estimate. This growing oil slick already covers an area
larger than West Virginia and oozed
onto the Louisiana shore early this morning. A major portion of the oil
slick looms only five miles offshore. This major oil spill could be the worst
environmental disaster since the Exxon Valdez
spill in 1989, and it is a tragic reminder that we must dramatically reduce
our oil use.

The Exxon
Valdez spill cost Alaska’s fishermen an estimated $800 million in damages to
their livelihood. This oil spill could bring an economic Armageddon to the gulf
coast seafood industry. Bloomberg
reports:

Louisiana is
the largest seafood producer in the lower 48 states, with annual retail sales of
about $1.8 billion, according to state data. Recreational fishing generates
about $1 billion in retail sales a year, according to the
state.

BP should be
required to place its first quarter profit of $5.6 billion in an escrow account
to provide compensation to the fishermen whose livelihoods are threatened. These
funds should also be used for cleaning up the soon to be blighted
shores.

Oil tax
loopholes: More money for the misbegotten

Despite high
prices and profits, big oil companies still want taxpayer-funded loopholes even
though some conservative oil men believe they are unnecessary. In 2005, former oil man
and President George W. Bush noted that with higher oil prices big oil does
not need tax breaks to explore and develop oil
fields.

I will tell
you with $55 oil we don’t need incentives to the oil and gas companies to
explore. There are plenty of incentives. What we need is to put a strategy in
place that will help this country over time become less
dependent.

Yet even with
today’s prices more than 50 percent higher than $55 per barrel, Big Oil
companies want
to maintain tax loopholes that siphon additional billions of dollars from
U.S. taxpayers. Taxpayer money pays for the tax breaks claimed by Big Oil, but
the industry claims that closing these loopholes is really a new energy tax on
them. American Petroleum Institute President Jack
Gerard stated:

With America
still recovering from recession and one in ten Americans out of work, now is not
the time to impose new taxes on the nation’s oil and natural gas industry. New
taxes would mean fewer American jobs and less revenue at a time when we
desperately need both. A robust U.S. oil and gas industry is essential to the
recovery of the nation’s economy.

Contrary to
this assertion, cutting the subsidies to Big Oil would help our economy while
shrinking the federal budget deficit. In fact, a state-by-state
analysis indicates that taxpayers would actually save money if the
subsidies and tax breaks were lifted. A recent CAP analysis found that the effective
federal income tax rate in the United States for major oil companies is
lower than the effective tax rates they face abroad—sometimes close to 50
percent lower. The report also determined that subsidies to the oil industry
will cost the U.S. government about $3 billion in lost revenues next year and
nearly $20 billion over the next five years.

These
estimates are only the initial assessment—they still vastly underestimate the
help that the oil industry receives from the government via extensive hidden tax
code benefits as well.

Big Oil
squeezes the Capitol

Given the
generous subsidies Big Oil receives, it should come as no surprise that this
industry is fighting hard to keep their loopholes and block reform. There was record
oil and gas industry lobbying in 2009. These companies spent at least $154
million on squeezing Congress that year-more than 16 percent higher than 2008.
Big Oil’s lobbying and political arm—the American Petroleum Institute—alone
spent at least $7.3
million on lobbying in 2009 and another $1.3 million more in 2010 to kill
legislation. API has also spent millions of dollars running expensive print, TV, and radio ads to do the
same. The American Petroleum Institute alone “doled out $75.2 million for public relations and advertising” in
2008.

Congress
must act

In short, Big
Oil’s profits climb higher and higher as American consumers feel more and more
pain at
the pump. This needs to stop.

Sens. John
Kerry (D-Mass.), Lindsey Graham (R-S.C.), and Joe Lieberman (I-Conn.) are developing
bipartisan comprehensive energy legislation that would reduce oil dependence and
put a declining limit and rising price
on carbon. These provisions would increase American energy independence (and
our national
security), create jobs, produce “Made in the USA” clean energy technologies,
and cut pollution. The bill should also establish much stricter safeguards for
existing offshore oil production.

Additionally,
Congress should cut subsidies
to big oil and level the playing field for safe, clean energy sources.
Further, we need to curb the economic, social, and environmental damage that our
consumption of dirty fuel causes. To achieve these many goals, Congress must act
swiftly to pass bipartisan comprehensive energy and climate
reform.

Methodology

We used the
weekly price and quantity data supplied by the EIA’s U.S. prices and consumption
database to calculate how much more Americans spent on gas in the first quarter of 2010
relative to what they would have spent had prices remained steady after the
first week of January 2010. Using their data from the “Finished Motor gasoline
product supplied” and “Conventional retail gas prices” sections, we multiplied
the average weekly product supplied value times that week’s recorded price,
doing this separately for each week of the first quarter. From here, the initial
week’s value was subtracted from each other weeks to obtain how much more was
spent each week relative to the first. Aggregating this column resulted in the
final figure.

See
also:

Big Oil
Awash in Profits by Daniel J. Weiss and Susan Lyon
Quenching
Our Thirst for Oil by Susan Lyon, Rebecca Lefton, and Daniel J.
Weiss

Related Links:

Wake up, Obama. The Gulf spill is our big chance

Oil rig disaster could soon be worse than Exxon Valdez

Obama puts offshore drilling on hold as Gulf of Mexico oil slick reaches U.S. coast

Whoa!  The WiFi Alliance certified the (likely Android) Motorola MB810 today for IEEE Standard 802.11 b/g/n.  Yes, that’s the Shadow, and I know a lot of us have been waiting for more info about this screamer.  Still no concrete details or specs, but in case you forgot here’s what we think we know:-

• Full Qwerty landscape slider
• 4.3-inch capacitive screen
• 1080p playback
• Android 2.2
• Bluetooth 2.1
• 8MP autofocus camera
• microSD slot
• AT&T 3G GSM radio

If you’re an AT&T subscriber, start gathering up the change from your ashtray and from deep down in the couch.  This is one you don’t wanna miss out on. [via Phonedog]

The 2011 Kia Optima was a head-turner at the latest New York Auto Show with its sleek lines and the corporate Kia nose, earning it the recognition as one of the best-looking cars at the show. Chief designer Peter Schreyer made the Optima’s lines subtler than the Hyundai Sonata.

By the looks of it, the Optima sedan will be positioned as the sportier member of the Hyundai-Kia midsize family. It’s probable that to extend the Optima line, a coupe version of the Optima (likely to be named the Kia Optima Koup) will be produced. Insider sources say that Kia is working on an Optima coupe that could be launched in late 2011. It’s quite easy to imagine the lines of this sedan translating well to a two-door body style. Sources also said that these renderings are quite close to the designs being considered for production. Kia is also expected to utilize both the direct-injected 2.4-liter four-cylinder engine (200hp) and the 274-hp, turbocharged 2.0-liter four in the Optima Coupe. Meanwhile, the turbo Optima Koup is likely to receive a lowered sport suspension, low-profile tires and a subtle rear-deck spoiler. However, a manual transmission on the 2.0T Kia Optima coupe isn’t part of the plan. Hyundai and Kia think that no one would really be against owning a six-speed automatic.

[source insideline | photos: theophilus chin]

Source: Car news, Car reviews, Spy shots

The developers behind the Toy Story 3 video game are well aware of the perception that comes with movie tie-ins, that’s why they want to step it up with this one. While the novelty throws a lot

Antes de que comencéis a sospechar de que los coreanos han empezado a copiar modelos de la misma manera a la que ya nos tienen acostumbrados los chinos, la verdad es que GM fue la que ha presentado un modelo propio, bajo la marca Daewoo, en Corea, el Daewoo Alpheon.

Haciendo una corta recapitulación, en 2002, cuando la vida le sonreía un poco más a GM, la marca norteamericana se decidió a comprar el 42% de la marca coreana, dedicándose a tratar de imponer en Europa y EEUU, adaptaciones de modelos de Daewoo, como el Matiz (Chevrolet Spark) o el Buick Excelle presentado hace dos años en Pekín.

Pero ahora la presentación es a la inversa. La idea de GM fue tomar un Buick LaCrosse, cambiarle la marca y darle vida al Daewoo Alpheon un coche de gran lujo para el mercado coreano. De las dos variantes de motor V6 originales, el Alpheon llevará el motor de 3 litros junto con el cambio automático de seis velocidades.

El coche fue presentado en el salón internacional de Busan, un ignoto salón coreano de esos que antes no les importaban en absoluto a las grandes marcas y que ahora les interesan sobremanera, junto con el Chevrolet Camaro para el mercado coreano.

Vía | Motorward

The RIAA has been touting this for a little while already, but the AFL-CIO has officially signed on to support the RIAA’s highly questionable performance tax. This is a bogus attempt to boost RIAA revenue by taxing radio stations for promoting their music. The RIAA has been going around claiming that radio promoting its music is a “kind of piracy”, while at the same time claiming it’s somehow illegal for radio stations not to play RIAA music. Yeah. Logic is not the RIAA’s strong suit. Even worse, of course, is that the RIAA has blatantly demonstrated that it knows there’s tremendous value in getting its music on the air. It’s been involved in payola scams for decades. To basically get the government to mandate reverse payola is the height of obnoxiousness.

Of course, what does the AFL-CIO have to do with any of this? Absolutely nothing. It’s pure politicking on the part of the RIAA and its offshoot lobbying group musicFIRST. The main point is to get more Congressional folks on board with the tax by saying “the unions support it!” Somewhere down the line, I’m sure the RIAA will come to the support of the AFL-CIO on some other random bill as well.

But what’s really ridiculous is the statement made by the AFL-CIO explaining why they support this:

“The labor movement was founded on the principle that a hard day’s work deserves a fair day’s pay. That’s the principle at stake in the fight for the Performance Rights Act.”

But that’s not even close to true. The Performance Rights Act is about the opposite of a fair day’s pay for a hard day’s work. It’s about getting paid over and over and over and over and over again for a bit of work done years ago. And, it’s not a “fair day’s pay” either. A fair day’s pay is a contractually agreed upon wage between two parties. This is about the gov’t forcing a totally unnecessary and nonsensical tax on radio stations for promoting RIAA music. In what world is it fair to tax someone who helps promote your work?

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From the Breaking News Center:

Zagel said the defense motion
fell "very short" of demonstrating a need to subpoena the president.

The
defense had said it wanted to question the president about
Blagojevich’s alleged attempt to sell the U.S. Senate seat left vacant
when Obama was elected.

Read more from Tribune federal courts reporter Jeff Coen by clicking here.

The worldwide mobile phone market grew 21.7% in the first quarter of 2010 (1Q10), a strong rebound from the market contraction in Q1 2009. Growth was fuelled by increased demand for converged mobile devices, more commonly known as smartphones, and the global economic recovery. According to the International Data Corporation (IDC) Worldwide Mobile Phone Tracker, vendors shipped 294.9 million units in the first quarter of 2010 compared to 242.4 million units in the first quarter of 2009.

Converged mobile devices, which allow consumers and business people to trade wireless e-mails for example, have become increasingly popular as a wider and more powerful array of devices have become available. The device class and a recovering traditional mobile phone category helped the market avoid a repeat of 1Q09, when the market declined 16.6% in the midst of the global economic recession.

It’s being widely reported that Continental Airlines and United Airlines, who have flirted with the idea in the past, could announce merger plans as early as Monday. If so, the deal would make the combined entity the largest airline in the world. But is that a good thing for travelers?

Writes Reuters:

Analysts have trumpeted such a deal as good for all U.S. carriers and the 700 million passengers they fly each year due to expectations the merged entity would remove excess capacity and prompt greater efficiency.

That’s what the experts say, but do you agree? While having both airlines under one umbrella might increase efficiency and decrease overhead, will that be given back to travelers as lower fares or improved service?

Vote here and tell us your thoughts in the comments.

U.S. would likely approve a UAL/CAL merger [Reuters]

KNOXVILLE – It’s finals season: the time of the semester when many students turn to all-nighters and last-minute cramming for the big tests.

The final exam or paper can be very intimidating if you are not prepared, and many students find themselves overwhelmed as they hurriedly try to cram several months’ worth of material into their already exhausted brains.

The Student Success Center at the University of Tennessee, Knoxville, which provides the support students need to be successful at UT, recommends a few ways to stay focused and prepare for finals.

• Budget your time.  Make sure you have sufficient time to study so that you are well prepared.
• Review ALL material.  Go over practice tests, sample problems, textbooks, class notes, etc.
• Use flashcards.  Write main ideas on index cards and review frequently; this makes it easier to retain the key concepts.
• Know what to expect.  Learn ahead of time what kind of test you will be taking.  Ask the instructor to specify the areas that will be emphasized on the test.
• Arrive early.  Give yourself five or 10 minutes before the exam to relax and prepare.

While these tips will help you do your best on exams, Student Success Center experts said it’s normal — and healthy — to feel some anxiety.  Being concerned can help you do your best on a test; just keep a positive attitude and decide to do your best.

It also is important to take good care of your body during finals.

Rosa Thomas, a wellness expert at Student Health Services, said you can lessen stress with a few simple activities.

“Go out in the sun for a little while to soak up Vitamin D and visit TRECs to get some exercise,” Thomas said. “You should smile a lot to make yourself feel better, and have a couple of people in your life you can communication openly with about your stress.”

Thomas also said it is important to practice good hygiene, have a good diet of fruits and vegetables, and get plenty of rest during finals.

“Watch funny movies,” Thomas said. “Shows like ‘I Love Lucy’ and ‘Saturday Night Live’ will give you a break from studying and help take your mind off of stress.”

Following these simple tips can help you finish the semester on a high note.

So, with finals only a few days away, what are you waiting for?  It’s time to hit the books, get plenty of rest, and enjoy the sunshine.

C O N T A C T :

Amy Blakely (865-974-5034, [email protected])

Surpriiiise! After three months of radio silence, the Motorola Shadow — a phone that, according to the shakiest rumors in all of Rumorville, might be the Google Nexus Two — is still alive.

At least, a phone that could be the Motorola Shadow is alive. It’s all a bit confusing; you see, a few days ago, we started hearing rumblings that the Motorola Shadow’s model number was “MB810″. Yesterday evening, Japanese phone site ameblo claimed it as a fact, citing their own sources — and then, whatd’ya know, a Motorola phone going by that very same model number cruised right on through the WiFi Alliance’s interoperability certification labs.

On the upside, it proves that the Motorola Shadow (probably) isn’t dead. On the downside, it.. doesn’t really tell us anything new. Rumored specs for the shadow are all over the place, but the most concrete stuff we’ve heard so far:

• 4.3″ capacitive screen
• Android 2.1 or 2.2
• 8 megapixel camera
• Slide-out QWERTY keyboard
• 802.11b,g,n

The operating system is still up in the air, given that we don’t know when/how this thing is landing. If it is set to be the Nexus Two, expect it to run 2.2 — and don’t be surprised if it’s announced at Google’s I/O conference on May 19th.

[Via Phonedog]

Posted by Monique Garcia at 1:05 p.m.

As lawmakers enter the waning days of the spring session, Gov. Pat Quinn today toned down his sometimes heated rhetoric about making an income tax increase part of a new state budget.

Quinn refused to say if he’d sign a budget if it did not include his proposed 33 percent income tax rate increase. The governor said he was confident lawmakers would find a solution next week before their scheduled departure May 7.

"Most of the time the Illinois legislature in its last week gets more done in terms of actually passing bills than all the previous weeks put together," Quinn said following a Chicago news conference to commemorate Polish Constitution Day. "So I am anticipating next week to be very busy."



Quinn also signaled that he would be open to alternatives to fill the budget hole beyond his tax hike proposal, including a cigarette tax increase and additional borrowing, though he called that "the least best alternative."



"I think the most important thing is to have proper education funding in Illinois, that’s the outcome that’s just indispensable," Quinn said.



Still, Quinn warned that he wouldn’t sign off on any plan just so lawmakers could go home for the summer, noting he vetoed the first budget that was sent to him last year.

"I want to see the final product of the legislature, if it doesn’t have proper funding for education you can bet your life that, you know, we will be working and working until we get to that point," Quinn said. "You cant go backwards on education and have a strong economy in Illinois."

Lawmakers today went home for the weekend in anticipation of addressing the budget starting Monday.

It’s a big Friday for new music: Check out Miley Cyrus’ new single “Can’t Be Tamed,” the title track from her upcoming album — set for release on June 22.

CLICK HERE to listen on MySpace!

This is definitely a different sound than we’re used to hearing from Miley, and according to insiders close to the Teen Idol — that’s the whole idea.

A source told London’s The Sun this week: “It’s Miley Mark II for the new album. She’s been the clean teen queen too long. The new look and attitude will shock a lot of people but it’s something Miley wants to do.”

By the way, Miley fans can tune in for the world premiere of the video for “Can’t Be Tamed” this Tuesday, May 4 @ 7:00 PM exclusively on E! News.

LYRICS:

For those who don’t know me, I can get a bit crazy
Have to get my way, 24 hours a day
‘Cause I’m hot like that
Every guy everywhere just gives me mad attention
Like I’m under inspection, I always get the 10s
‘Cause I’m built like that

[Chorus]

A Millward Brown survey has rated BMW as the most valuable car brand in the world, valuating it at around $21.82 billion. BMW overtook last year’s winner Toyota, which is now positioned at the second place with an overall estimated worth of $21.77 billion. It is noteworthy that both companies reflected worth was a lot lesser than last year owing to the economic downturn that hampered the global economy.

The biggest losers in this year’s survey were Porsche which was down by 31 percent and Toyota that saw a downfall of 27 percent compared to the estimated value last year. VW rose up in value by 20 percent and Ford also registered a rise of 19 percent. On the other hand, Audi, which self proclaims themselves to be the best premium brand, stood at a disappointing ninth place with an overall value of $3.62 billion.

From the Breaking News Center:

Pagano, Metra’s gruff boss of
commuter rail operations for the
last 20 years, is under scrutiny for possible financial irregularities
involving an alleged "bonus" of $56,000, officials have said.

Read more by clicking here.