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  • GetGlue Stares Down the Facebook Behemoth

    GetGlue, apparently undaunted by the looming threat of a 400-pound gorilla named Facebook moving in on its social recommendation turf, has rolled out some new features for its service, which provides users with movie, music and book suggestions and reviews from friends in their network. The service, which New York-based Adaptive Blue launched last year, consists of a website that shows you all the recommendations from your friends, a toolbar that provides access to reviews and comments from your network as you browse the web, and a recently launched popup feature that shows you relevant content and reviews when you’re on almost any page or website that has the GetGlue plugin enabled.

    All of which, if you’ve been following the news from Facebook over the past week or so, probably sounds more than a little familiar. The giant social network has launched an ambitious attempt to extend itself out into the broader web through the use of an “open graph protocol” and social plugins, which allow users of any site to click a button and share their recommendation with friends, or to see the activity of their friends related to that site.

    GetGlue, which had previously been reluctant to divulge stats, said today that the number of registered users of its service is north of 400,000 and growing; Facebook’s users, meanwhile, recently topped 400 million. The larger company is also busy integrating its services into virtually all the major media and content websites, either through partnerships or through its open graph protocol and open API. Presumably such information will ultimately be aggregated by the network and shown to users and advertisers in some way.

    So how does GetGlue see this encroaching monster? “Overall, we’re viewing it as a net positive,” said Fraser Kelton, director of business development. For one thing, he says, the fact that Facebook is going after social recommendations with such an aggressive launch “validates our vision.” Kelton also said that GetGlue believes it can still provide value despite Facebook’s entry into the market, because it’s been filtering that kind of data and generating personalized recommendations for several years now.

    “I think we can thrive and plug into and extend that ecosystem,” said Kelton. “We’re going to thrive because we can now get data from 400 million users, and we’re going to move pretty quickly to capitalize on it.” The GetGlue executive said that founder Alex Iskold and the rest of the development team “are already working on some things in the lab” that will allow the service to incorporate Facebook-related likes and recommendation data. “So overall we are excited about it,” Kelton said.

    Whether the company can add enough value to make users excited about using GetGlue instead of Facebook remains to be seen. In an interesting twist, GetGlue founder Alex Iskold helped develop a proposed tagging scheme for web pages that would do something very similar to Facebook’s open graph protocol — it was called “abmeta” and was developed with Peter Mika at Yahoo. Kelton said he’s not sure what will happen to abmeta in the wake of Facebook’s launch, however. “We’ll have to figure that out internally, whether to continue with it or not,” he said. Iskold is also active in the Open Like community, which has proposed an open standard for recommendations.

    Related content from GigaOM Pro (sub req’d):

    There’s No Stopping Facebook

  • Unsurprisingly, Chinese iPad Knockoffs Are Here [Ipad]

    With the iPad still not available overseas and demand high, it’s not too surprising that there are knockoffs available in Shenzhen already. And hey, this one has three USB ports! Better than the original, amirite? More »







  • SPREAD THE GOOD WORD ABOUT THE BOUNCE BACK BOOK – and get a bounce back of good karma at ya!!

    bounce back book

    So many of you fabulous people have lovingly sent me the most beautiful thank you emails for THE BOUNCE BACK BOOK.

    Thanks to all you super fans of my book (including the fabulous ANTHONY ROBBINS!!), the book is now in a 4th printing. Yay! I appreciate your generous spirits and support!

    If you want to help spread the good word, I’d pretty-please love it if you consider:

    1. Volunteering as a BOUNCE BACK BRAND AMBASSADOR. You’ll get the psssssst insider info on all my newest books, and every once in a while, I’ll ask for your support, spreading a new tidbit about THE BOUNCE BACK BOOK’S positivity out into the world – via TWITTER and FACEBOOK and your BLOG. Just write to me here at FACEBOOK, and I’ll give you more details!

    2. If you’ve read and loved THE BOUNCE BACK BOOK, I’d totally appreciate you’re writing a REVIEW about it on AMAZON by clicking HERE NOW ….or writing a review on your BLOG.

    3. If you’ve read and loved THE BOUNCE BACK BOOK, I’d absolutely be tickled if you considered buying the book on AMAZON today (just click here), for any/all friends or family you feel could use a booster-shot of joy!

    4. If you want more ongoing BOUNCE BACK TIPS – for yourself and friends/family — be sure to sign up for my famed BE HAPPY DAMMIT newsletter, by clicking THIS LINE, RIGHT HERE, RIGHT NOW!

    with gratitude, xoxo,
    Karen

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  • Spring Design Alex e-reader gets rooted

    With the onslaught of e-readers in the works, and the tablet device craze gaining steam, life has to be tough for the Alex.  It clearly has slipped off the radar recently, even the announcement that it’s started shipping already didn’t find much coverage.  I’ve not had a chance to fiddle with it, but I can see why some of the competition gets more favorable press.  It’s big.  It’s still running Cupcake.  It has no menu button !?!

    It does have however a nice, easy-to-read e-ink display. And as of late Sunday afternoon, it
    has something else that many will be interested in —  A mystery hacker by the name of
    Bluebrain has got the thing cracked open.  It looks to be a relatively simple task, all the
    hard work has been wrapped up nicely into a single download.

    I’m not convinced that this will be enough to save the Alex from a doomed life in the shadow
    of iPads and Nooks, but it certainly piqued my interest in the device a little bit.  We’ll
    keep an eye on things, and if any sort of outside development community springs up (pun
    intended – zing!
    ) I know I’ll be looking at it a little harder.  Anyone out there using an
    Alex?  We’d love to hear your thoughts and opinions in the comments! [via engadget]

  • Review: Retrospective Analysis of Rivastigmine for Alzheimer’s Disease with and without Hallucinations

    The paper reviewed here is ‘Effects of Rivastigmine in Alzheimer’s Disease Patients With and Without Hallucinations’ by Jeffrey Cummings and colleagues and freely available here. In the abstract, the authors write that

    Hallucinations predicted greater treatment responses to oral Rivastigmine

    In the introduction, the researchers cite evidence that a cholinergic deficit is associated with hallucinations in Lewy Body Dementia and Parksinons’ Disease with Dementia. The  evidence of this association between cholinergic deficits and hallucinations forms the rationale for the current study where the researchers are investigating the effects of Rivastigmine on hallucinations in people with Alzheimer’s Disease.

    Method

    • The researchers pooled data from two clinical trials although I wasn’t clear on how these studies were selected. There may be a bias towards a positive effect as unpublished negative studies may not have been included in this analysis.
    • The 2 studies were randomised and placebo-controlled
    • The ADAS-cog was used as a primary outcome measure
    • The Clinician’s Interview based impression of Change plus Caregiver impression was also used as a primary outcome measure
    • The presence of hallucinations were identified using the BEHAVE-AD (Behavioural Pathology in Alzheimer’s Disease Rating Scale) and confirmatory analysis was undertaken on the change from baseline at 26 weeks
    • Physical illness was not an exclusion criteria unless severe
    • Participants continued on medication for comorbid physical illness and thus the populations better approximated that which would be expected in clinical practice
    • Use of psychotropic medication was an exclusion criteria (albeit with a small number of exceptions)
    • Both trials were of 6 months duration
    • Rivastigmine capsules with flexible dosing up to 12mg/day in 2 divided doses were used
    • The lower target dose of Rivastigmine was excluded from this analysis although I wasn’t clear on the reason for this
    • The ANCOVA and ANOVA were used in the statistical analysis

    Results

    • 1424 subjects were included in the analysis
    • Mean age was 73.2 years
    • Mean duration of dementia was 39.1 months
    • 23% of patients on Rivastigmine reported hallucinations at baseline
    • 19% of patients on placebo reported hallucinations at baseline
    • The researchers write that ‘At 6 months, a mean improvement of 0.5 points on the ADAS-cog was seen in patients with hallucinations at baseline treated with rivastigmine, while patients without hallucinations at baseline showed a 0.3 point decline’. The improvement in ADAS-cog scores in the AD group with hallucinations was significant at below the 5% level.
    • There was a greater decline in the placebo hallucinator group compared to the placebo non-hallucinator group

    Discussion

    The researchers note a small and statistically significant effect of Rivastigmine in improving ADAS-cog scores in people with AD and hallucinations. They also note an increased decline in ADAS-cog scores in the subjects with hallucinations at baseline and they speculate about the role of the basal forebrain acetylcholinergic projections. In order to further test the cholinergic hypothesis of hallucinations, I thought it would be interesting to include all acetylcholinesterase inhibitors in all forms (e.g capsules) to further explore the hypotheses generated in this paper.

    Acknowledgements

    The diagram above is by author Ju and denotes the chemical structure of Rivastigmine. The image is in the public domain and further details can be found here.

    Call for Authors: If you are interested in writing an article or series of articles for this blog please write to the e-mail address below. Copyright can be retained. Index: An index of the site can be found here. The page contains links to all of the articles in the blog in chronological order. Twitter: You can follow ‘The Amazing World of Psychiatry’ Twitter by clicking on this link. Podcast: You can listen to this post on Odiogo by clicking on this link (there may be a small delay between publishing of the blog article and the availability of the podcast). It is available for a limited period. TAWOP Channel: You can follow the TAWOP Channel on YouTube by clicking on this link. Responses: If you have any comments, you can leave them below or alternatively e-mail [email protected]. Disclaimer: The comments made here represent the opinions of the author and do not represent the profession or any body/organisation. The comments made here are not meant as a source of medical advice and those seeking medical advice are advised to consult with their own doctor. The author is not responsible for the contents of any external sites that are linked to in this blog.

  • PS3 Firmware 3.30 Detailed


    With no major reports from users since it’s release, firmware 3.30 is safely in the wild. Here is a rundown of all the new features:

    Trophy enhancements –- Now you can more easily sort trophies in the [Trophy Collection] and [Comparing Trophy] sections. Sorting can be done with [Trophy Collection] in the [Game Category] and also when comparing trophies with your friends in the [Friend Category]

    Trophy Folder (Title List) can be sorted by game name/ by title according to the date in which you earned your last trophy (ascending/descending)

    Add-on list (Group list) can be sorted by original/the date in which you earned your last trophy (ascending/descending)

    Trophy list can be sorted by original/trophy name/grade/date of obtaining the trophy (ascending/descending)

    3D Support – System prepped for stereoscopic gaming

    Now for a few not so obvious ones, as the sixthaxis noted below:

    BD Audio Output Settings Direct and Bitstream

    Direct – Set to output audio with the original digital signal prioritized.
    Mix – Set to output audio that is first mixed with sound effects such as button sounds and then converted to bitstream  format.

    PC Remote Play – Arriving on set VAIO PC’s, users will be able to register a PC as a remote play device.

    Having test the firmware personally, I approve this posting :)

  • HTC Droid Incredible (Verizon) – Full Review

    Noah reviews the HTC Droid Incredible for Verizon. In a nutshell, it’s the best Android phone currently for sale in America.


  • The Weather Channel for Android Updated

    A while back we reviewed The Weather Channel app followed by their separate Widget… now TWC’s new Android weather app launched today. Android Standard 2.3.14 sports new graphics such as custom tabs, new desktop widgets, “Did you know?” weather facts, and TruPoint Nowcasts.  This app also includes back-end enhancements, including improved tracking, improved advertising code, and code enchantments to improve battery life and faster load times of weather data.

    Have you seen scanable QR Codes to download the app directly from your TV?

    The Weather Channel: Screenshots of updated app

    The Weather Channel Now
    The Weather Channel 10 Day
    The Weather Channel Radar
    The Weather Channel Home Screen Widgets

    Download the app view the QR codes or links above and tell us what you think!

    Algadon Free Online RPG. Fully Mobile Friendly.

  • Making Sense of the New Health Care Law

    More than a month after lawmakers passed a major overhaul of the American health care system, businesses, their employees and even government officials are still sifting through all of the details of what that legislation means.

    At an event Monday in Washington a panel of experts tried to answer some of the questions left in the wake of historic legislation that has employers looking for answers on how to implement the changes lawmakers mandated, employees wondering how to take advantage of the new system and officials at the Department of Health & Human Service figuring out how to fill in the holes that Congress left behind.

    “The biggest of all questions employers are getting is on adding dependants,” Paul Dennert, senior vice president of the American Benefits Council says about the new law’s provision allowing parents to add children up to 26 years old on their family insurance policies.

    What’s not clear from the law is how the costs associated with adding extra family members to plans will be spread out. There are tax questions for the employer and employee alike that need to be sorted out. Dennert says officials at HHS are in the process of offering some guidelines to sort out all of the details. Those guidelines could come out as early as Friday, Dennert said at the event hosted by the U.S. Chamber of Commerce.

    Even if HHS is able to answer some of these lingering questions this week, uncertainty over the new law is expected to continue for quite some time. In the short run, this puts employers who are now in the process of making decisions about their health care coverage for next year and beyond in a precarious situation of possibly running afoul of federal rules that have yet to come down.

    Dennert calls this a “real world decision for many employers” that can’t wait on HHS officials to tell them what to do. He hopes employers who make good faith efforts in their health care policies will be protected if their decisions ultimately run afoul of federal law.

    Other questions left unresolved include the amount of any yearly cap on benefits and what changes plans grandfathered from the new law will have to make to maintain exempt status.

    So much of the underlying uncertainty comes from the massive size of the bill and the piecemeal fashion by which many of the changes will take place. Most of the significant adjustments, especially the exchanges that will add millions more to the insurance rolls, will not take place until 2014 or later, which makes the next few years a period of significant transition.

    Another concern was raised over the viability of a small business tax credit offered to help offset some of the costs associated with coverage. “We’re unsure how many people are going to be able to access this credit,” said Amanda Austin of the National Federation of Independent Businesses. Employers are eligible to apply for the credit now but Austin is critical of lawmakers for what she views is a narrow set of requirements that few small business owners will be able to meet to qualify for the full credit.

    Austin also bemoaned a new mandatory tax reporting requirement she says is sure to increase costs for business owners.

    Monday’s event included the release of a study sponsored by the Chamber analyzing the impact of the new law which its backers said would insure more Americans while containing costs. The report cited a small Philadelphia trash company that has 55 full-time employees and spends $600,000/year on health care costs. In 2014, if the company decided to drop its health plan, it would pay $50,000 in fines. In other words, the study shows, the company will save $550,000 by not offering its workers health insurance and forcing them to find insurance on their own.

    All of the day’s panelists said changes to the current law are likely. One even suggested part of the legislation might be repealed. Bruce Josten of the Chamber put it rather simply when he said, “health care reform is not over.”

  • How Chimps Mourn Their Dead: Reactions to Death Caught on Film | 80beats

    Do chimpanzees truly understand the concept of death–and do they grieve for their dead? Two separate studies due to be published in journal Current Biology suggest that chimps may have emotional responses to death that aren’t so different from humans’ reactions.

    In the first study, researchers observed an ailing female chimp in a Scottish zoo. The elderly chimp, called Pansy, was believed to be more than 50 years old. As Pansy’s health began to falter, other chimps, including Pansy’s daughter, began to exhibit signs of concern that seemed remarkably human. They groomed Pansy more often than usual as she became lethargic, and after her death, her daughter stayed near the body for an entire night, even though she had never slept on that platform before. All of the group were subdued for several days afterwards, and avoided the place where she had died, spending long hours grooming each other [BBC].

    In the second study, scientists working in the forests of Guinea observed two chimp mothers carrying around the bodies of their dead infants for weeks after their deaths. One chimp carried her dead baby around for more than 60 days, an unusually long period, according to the scientists. During the period, the babies’ bodies slowly mummified as they dried out. The bereaved mothers used tools to fend off flies [BBC].

    For an in-depth examination of what these two studies reveal about our closest ancestor’s understanding of death and mortality, read Ed Yong’s post in the DISCOVER blog “Not Exactly Rocket Science.”

    Related Content:
    DISCOVER: Chimps Show Altruistic Streak
    DISCOVER: The Discover Interview: Jane Goodall
    DISCOVER: Chimps Plan Ahead. (Plan #1: Throw Rocks at Humans.)
    80beats: Chimps Don’t Run From Fire—They Dance With It
    80beats: Chimps Catch Contagious Yawns From Cartoons
    80beats: Scientists Tickle Apes & Conclude Laughter Is at Least 10 Million Years Old


  • Macbeth in Ankara Opera House

    ‘Macbeth’ returns to Ankara opera stage after 48 years

    Hurriyet Daily News with wires, Monday, April 26, 2010

    William Shakespeare’s tragedy ’Macbeth’ will appear on stage in Ankara on Wednesday after 48 years with a performance by the Ankara State Opera and Ballet. The director of the play, Yekta Kara, says almost half a century has passed since it was last staged and it is a very long time for a masterpiece like ’Macbeth’
    One of the most important tragedies of William Shakespeare, “Macbeth,” which has been adapted to opera stage with Guiseppe Verdi’s melodies, will meet the audience of Ankara after 48 years. The opera will premiere on Wednesday.

    The opera, which Shakespeare wrote in 1606, is one of the most significant works of the Ankara State Opera and Ballet this season. The stage director is Yekta Kara, who staged the work at the Istanbul State Opera and Ballet in 2006.

    “Macbeth,” which is one of the shortest but the most important among Shakespeare’s tragedies, has so far met audiences on the world’s most important theater and opera stages. Speaking about the opera, Kara said that he last time staged the opera “Zahide” in Ankara and would meet the audience of the capital after 19 years.

    He said the Ankara people viewed “Macbeth” in 1962 for the last time. “Almost half a century has passed. This is a very long time for a masterpiece like Macbeth.”

    Kara said like in all plays of Shakespeare, “Macbeth” featured human, and that he knew human nature and human feelings very well and adopted it to the stage very successfully. He said Verdi had a great admiration for Shakespeare, adding that he had composed three different Shakespeare plays in his life.

    “The first one was ‘Macbeth’,” Kara said. “Verdi played with ‘Macbeth’ for a long time. He composed it first, it was staged and revised in the direction of critics. Later on, it met the audience in Paris with its new version.”

    Today after 10 centuries

    Kara said since it featured human, “Macbeth” would always be a popular play. “There is love in most of operas. People die, cry or have problems for the sake of love. And death is always in question. There is no love in ‘Macbeth,’ we don’t see any love scene between Macbeth and Lady Macbeth. But there is a great will to power,” he said, talking about the theme of the play.

    “The thing that brings together a man and a woman, namely Macbeth and Lady Macbeth, and caused them to collaborate is an unbelievable will to power. They commit crime for power. Many things are still the same in human nature”, Kara said.

    “Macbeth takes place in 11th-century Scotland. We stage it in the 21st century in Ankara, after 10 centuries. People’s wills never end, regardless of their position. And many bitter events happen because of these wills. They shed blood, fight and kill each other for their will. It means that nothing has changed in human nature since then. But thanks to education and culture, we learn to suppress primitive feelings and the will to power. Those who fail to do it continue committing crime just as in ‘Macbeth.’”

    True story of a Scottish king

    “Macbeth” is the last of Shakespeare’s four great tragedies, the others being “Hamlet,” “King Lear” and “Othello.” It is based on a true story of a Scottish king who rose to power through bloody ambition. The play opens as Macbeth has just vanquished an usurper to the current king’s throne. He and his comrade Banquo come across three witches who prophesy that Macbeth will be made thane of Cawdor and will eventually become king. When he reaches the king’s court, Macbeth is made thane of Cawdor as a reward for his bravery and loyalty. Now the witches’ greater prediction begins to occupy the minds of both him and his wife. It is Lady Macbeth who plots the murder of King Duncan and the ascension of her husband to the throne. Macbeth initially resists her prodding, but finally agrees to commit the regicide. While the plot is successful and Macbeth rises to the throne, many suspect him of the murder. His reign is marked by the murders of his opponents, both real and imagined, and by the visitation of spirits. Both Macbeth and his wife suffer greatly from their guilt, until the dramatic conclusion that ends his bitter rule.

  • Markets Officially Going Nuts For Emerging Market Bonds: Here’s Why

    (This guest post comes courtesy of the Mad Hedge Fund Trader)

    Last year, I suggested emerging market sovereign debt ETF’s as safe, high yielding investments in which to hide out in case the equity markets swoon again (click here for the call). With hedge funds scrambling to pile on more risk, and mutual funds now blatantly chasing performance, the Invesco PowerShares Emerging Market Sovereign Debt ETF (PCY) has exploded to the upside. It seems that the higher equities go, the more people want to buy safe bonds.

    This ETF has 40% of its assets in Latin American bonds and 31% in Asia. The two-year-old fund now boasts $536 million in market cap and pays a handy 6.29% dividend. This beats the daylights out of the one basis point you currently earn for cash, the 3.80% yield on 10 year Treasuries, and still exceeds the 5.37% dividend on the iShares Investment Grade Bond ETN (LQD), which buys predominantly single “A” US corporates. The big difference here is that the countries that make up the PCY have a much rosier future of credit upgrades to look forward to.

    It turns out that many emerging markets have little or no debt, because until recently, investors thought their credit quality was too poor. No doubt a history of defaults in Brazil and Argentina in the seventies and eighties is at the back of their minds. Not so for the US, which has bond issuance going through the roof, and downgrade noises growing ever louder. A price appreciation of 130% over the past year tells you this is not exactly an undiscovered concept. Still, it is something to keep on your “buy on dips” list.

    chart

     

    Get more market commentary from The Mad Hedge Fund Trader >

    Join the conversation about this story »

  • Cops raid Gizmodo editor home — you don’t mess with Steve Jobs

    By Joe Wilcox, Betanews

    Gizmodo’s big “next iPhone” scoop has generated more than pageviews. Now it’s the police raid. Late this afternoon — actually at stock market close — the gadget blog posted about the police raid, which occurred Friday night at the residence of Gizmodo editor Jason Chen. Law enforcement exercised a search warrant before confiscating — count `em — four PCs and two servers.

    The timing (Friday night) and location (Chen’s home) are oh-so revealing. Somebody wants to send a message to reporters about obtaining information and items that might belong to a big corporation — say, Apple. While I’ve publicly scolded Gizmodo for scooping stolen goods (pun intended), the situation as recounted by the tech blog (and not yet corroborated) chills my soul. The action as described stinks of harassment, intended to scare off the free press.

    Otherwise, why wasn’t the search warrant issued during business hours at a Gizmodo office? The tech blog never said that Chen paid $5,000 for the iPhone prototype. Nick Denton, CEO of parent company Gawker, is on record stating the company paid for the device. If there is criminal negligence, shouldn’t it be further up the corporate ladder than the editor first writing about Apple’s smartphone?

    It’s true that Chen works from home, but surely Gawker has well-documented everything related to the iPhone prototype. Surely there is a clear e-mail trail on company servers — then there are legal considerations. Surely Gawker’s legal department vetted everything before allowing one word, photo or video to be posted about the iPhone prototype. Obviously, Chen’s home is more vulnerable than a company’s offices. Chen’s home office is located in California, while Gawker offices are in New York. Apple is located in California, too.

    There’s a message here: You don’t mess with Apple CEO Steve Jobs. Apple keeps its secrets until Jobs is ready to reveal them. The free press be damned. Singling out Chen is harassment designed to scare off other reporters. I say that being strongly of the opinion that Gizmodo did in fact receive stolen goods under the California Penal Code. The tech blog likely violated California’s Uniform Trade Secrets Act. But the harassment of an editor/reporter/blogger to discourage him or his peers from exercising free speech shouldn’t be mingled with Gizmodo’s culpability — or not.

    Then there are the direct assaults on free speech. Journalists in California are supposed to be protected from search and seizure. Gawker COO Gaby Darbyshire e-mailed the police detective responsible for the search and seizure, citing California Penal Code Seciton 1524(g): “No warrant shall issue for any item or items described in Section 1070 of the Evidence Code.”

    California Evidence Code Section 1070 reads:

    (a) A publisher, editor, reporter, or other person connected with or employed upon a newspaper, magazine, or other periodical publication, or by a press association or wire service, or any person who has been so connected or employed, cannot be adjudged in contempt by a judicial, legislative, administrative body, or any other body having the power to issue subpoenas, for refusing to disclose, in any proceeding as defined in Section 901, the source of any information procured while so connected or employed for publication in a newspaper, magazine or other periodical publication, or for refusing to disclose any unpublished information obtained or prepared in gathering, receiving or processing of information for communication to the public….

    (c) As used in this section, “unpublished information” includes information not disseminated to the public by the person from whom disclosure is sought, whether or not related information has been disseminated and includes, but is not limited to, all notes, outtakes, photographs, tapes or other data of whatever sort not itself disseminated to the public through a medium of communication, whether or not published information based upon or related to such material has been disseminated.

    But do these protections extend to Gizmodo? Denton’s Twitter bio identifies him as a “gossip merchant,” and Gizmodo is regarded as a tech blog. Do the same laws that protect journalists apply to bloggers? It’s a question I hear often asked.

    For certain, Chen’s computers and servers are chock full of sources — named and not. Should the police be able to raid a blogger’s home (Chen is a Gizmodo editor, by title) and violate those sources’ rights to privacy? Can the press truly be free, if the police have such free reign. I’m a journalist. I’m biased here. So I pose the question to you: Should the police have been allowed to raid Chen’s home and confiscate his computers? Please respond in comments.

    Copyright Betanews, Inc. 2010



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  • Democrat Ben Nelson Votes Against Moving Forward With Financial Regulation

    Sen. Ben Nelson (D-Neb.) has voted no on the cloture motion to start debate on Sen. Chris Dodd’s (D-Conn.) financial regulatory reform bill — meaning the motion will likely fail, 58 to 42, short of the 60 votes needed. Republicans will tout this as an extraordinary victory demonstrating bipartisan opposition to moving forward on financial regulation until the bill is tried, tested and sorted. But my guess is that Nelson knew the motion would not pass, having failed to garner Sen. Olympia Snowe’s (R-Maine) vote earlier today, and decided not to vote for it at that point.

    Regardless, the optics are terrible. Nelson’s “Cornhusker kickback” delayed health care reform. Today, news broke that Warren Buffett, the head of Berkshire Hathaway and a resident of Omaha, lobbied for the Senate Agriculture Committee, on which Nelson sits, to create a derivatives loophole that would benefit his company to the tune of billions, a proposal Senate Democrats swatted down. And now, Nelson is holding up progress on the financial front again.

  • Chinese women driving new Ferrari sales?

    Filed under: , , , ,

    Ferrari 599XX at Miller Motorsports Park – Click above for high-res image gallery

    It looks like Ferrari’s love affair with China isn’t one-sided. According to a recent report, the Prancing Horse moved a total of 220 cars in China last year, and of those, 20 percent were snapped up by well-to-do women. That means China’s ladies are buying Ferraris at four times the rate of their western counterparts. Why? It all has to do with business.

    Ferrari says there are somewhere between 400-500 millionaires in China and that a fair portion of those are women who have earned their money by building and operating competitive businesses. They’ve got cash, and they want the toys that come with it.

    Interestingly enough, the company also said that the average age of a Chinese Ferrari buyer is 10 years younger than in Europe or North America. If you were looking for proof that the automotive industry is shifting its focus from the west, look no further.

    [Source: Go Auto]

    Chinese women driving new Ferrari sales? originally appeared on Autoblog on Mon, 26 Apr 2010 16:39:00 EST. Please see our terms for use of feeds.

    Permalink | Email this | Comments

  • Iowa Economy Exam

    When President Obama returns to Iowa Tuesday he will face a community where more than one person in ten is out of work. It seems like a tough first stop on his White House to Main Street tour that will take him through Iowa, Illinois and Missouri.
    The trip is billed as a series of ‘economic listening events’ and the President could very well get an earful.
    In Fort Madison, Iowa, which will be the president’s first stop, Mr. Obama could hear frustration over the slow pace of economic recovery. Lee County bank president is not alone in his criticism of the president for not making the economy a top priority, saying, “if he worked on that nationally, I think our recovery would have been stronger, quicker.”
    That’s not to say there hasn’t been any recovery. In fact you will find the anxiety of the economy is subsiding in southeast Iowa a bit. Small business owners like Martha Wolf who owns the Ivy Bake Shoppe and Cafe says she sees more traffic in her downtown restaurant. After a dreary winter where her staff of twenty all agreed to cut their hours to keep everybody employed, Martha says things seem to be improving. The one word you’ll hear often when people here explain the turnaround…Siemens.
    The German manufacturer opened it’s windmill blade plant in Fort Madison back in 2007 with 200 jobs. That number has almost doubled as the plant has expanded to fill the demands of a green technology that has windmills dotting landscapes all around the country.
    Siemens will be the stage for President Obama when he visits Fort Madison. He is certain to celebrate the green technology plant and it’s growing roll of employees.
    But the lesson may go beyond the potential benefit of green technology jobs. Call it midwestern sensibility or fiscal conservatism but one thing you’ll learn in Iowa is to live within your means. Martha Wolf says a big reason people aren’t hurting as much is because they spend wisely. “I’m ok. You know. I haven’t been extravagant and I don’t think you’ll find a lot of midwestern, at least in Fort Madison, that are extravagant people.”

  • What’s an Investment Bank’s Fiduciary Duty to Clients?

    The widespread media coverage of the Securities and Exchange Commission’s case against Goldman Sachs has created some public interest about how Wall Street works. To many Main Street observers, the deal looks pretty shady. There’s some possibility that Goldman misled investors, but a new report about Deutsche Bank doing largely the same thing makes it appear that the SEC’s case could be based on a mere technicality. Goldman referred to an independent collateral agent having created the portfolio for the security purchased by investors, though a hedge fund manager was also involved. Deutsche Bank employed no such third-party, so there could have been no such deceit on its part.

    Whether or not Goldman is ultimately found to have committed fraud, many people who have read some details of the case likely believe that there were ethics violations, given the appearance that Goldman believed the security would perform poorly. Shouldn’t an investment bank that creates a security have an obligation to only sell it if the bank believes it will perform well? Not necessarily.

    The Role of an Investment Bank

    First, it’s important to understand the role of an investment bank. It’s a glorified middle man. Its job is to bring together buyers and sellers and facilitate a transaction. This involves all sorts of financial products. Here are a few examples:

    • M&A: If a firm is looking to be acquired or acquire another, an investment bank can advise it on its options, pricing, etc. It can also solicit offers and facilitate the transaction’s closing.
    • Equity/Debt Sales: If a company wants to sell some stock or bonds, it can go to an investment bank. The bank can then work with the company to create an offering and find investors to purchase the resulting securities.
    • Derivatives: If a company or investor wants some kind of financial exposure, an investment bank can find another company or investor who wants the opposite exposure. It can then create a derivative to satisfy the demands of both parties.

    An investment bank shouldn’t be confused with a personal financial advisor. The latter is a professional who generally provides investment advice to clients, like to buy or sell a stock. An investment bank isn’t there to provide its opinion when selling securities. Its job is just to provide sufficient information to all parties so they can make their own investment decision. The exception to this rule is the equity or debt research groups that sometimes exist in investment banks specifically to provide investment advice. They are required to be isolated from the investment bank’s other activities.

    An Example: Derivatives

    Let’s imagine an example where an investment bank is creating a derivative based on subprime mortgage-backed securities in early 2007 — right before the market collapsed. One long investor believes the mortgage market will continue to do well, the other short investor thinks it will do poorly. What the bank believes will occur is entirely irrelevant: it’s just there to create a deal that satisfies the demands of both parties and disclose all the data they need to analyze it. If each obtains the information associated with the deal, finds it appropriate, and buys the securities offered, then the bank’s job is done.

    If the bank has a fiduciary duty, which investor does it have a duty to protect? For example, imagine that the bank believed that the mortgage market was about to go bust. If it advised the long investor not to buy the security, it would be breaching its duty to the short investor. Alternatively, what if the bank believed the mortgage market would continue to thrive? Then, if it advised the short investor accordingly, it would breach its duty to the long investor. These investors’ interests necessarily conflict. The bank can’t give preference to one client over the other. For it to do its job best, it must create a security, disclose all of its characteristics, and allow investors to decide on their own whether to buy.

    In fact, in this example, it would be impossible for the bank to sell both securities if it had to believe anything it sold would perform well. One security will necessarily do poorly. It’s a zero-sum trade.

    Where an Investment Bank Can Go Wrong

    Of course, that doesn’t mean it’s impossible for a bank to act in an ethically reprehensible way. If a bank misleads a client, then that’s fraud. But if a bank happens to believe a security might not do poorly, based on its interpretation of future events, then that’s irrelevant. Its job is just to provide sufficient information for the investors to evaluate the security within their own interpretation of future events. After all, the investment bank could very well be incorrect. Fraud would occur if the information it presents is false or inaccurate, because then investors could not have fairly assessed the security based on their own assumptions. If the data is accurate and complete, then the investors can successfully perform their analysis, and the investment bank has done its job.





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  • Rockefeller to Take Part in Senate Mine-Safety Hearing

    Tomorrow afternoon, the Senate Health, Education, Labor and Pensions Committee will meet to examine the country’s mine safety policies — the first such exploration since 29 miners were killed in a horrific mine blast in Southern West Virginia on April 5. And although Sen. Jay Rockefeller (D-W.Va.) isn’t a member of that panel, he’s been asked to participate in the proceedings, his office just announced.

    Federal regulators have been feeling the heat since this month’s blast, with many critics — including former federal regulators — arguing that recent safety concerns at the Upper Big Branch mine should have led the Mine Safety and Health Administration to shut the project down. Joe Main, who heads MSHA, is expected to testify at tomorrow’s hearing.

    Notably, no representative of Massey Energy, the company that owns the mine, is scheduled to appear.

  • The Prescription Drug Market

    Commenter mbp3 has some trenchant thoughts on the pharmaceutical market:

    One thing you don’t mention in this post (but perhaps you discuss in your piece on pipelines) is that pharmacy benefit managers (PBMs) like Medco are structured such that their incentive to maximize profits aligns with employers/government incentive to reduce costs. Medco makes more money from each generic drug dispensed than from each brand name drug, even though the cost of brand drugs can be 10x higher.

    So, I submit that the Medicare prescription drug program has come in below original spending projections because incentives are aligned: plans that prescribe more generics cost less for customers and allow the PBMs such as Medco to generate more profit. A win-win for everyone except brand drug companies.

    The new HC reform bill does not have the same alignment of incentives. Goverment will attempt to cut costs administratively, by reducing Medicare payments and forcing companies to pay large fees, while doing vey little to reduce the subsidy given to employer based plans and while increasing the number and scope of mandatory coverage.

    Later (s)he adds:

    I think the structure of Part D had a lot to do with it. Management of the prgram was outsourced to profit maximizing companies, the reimbursement is based on a competitive bidding system so a higher bid forces a plan to charge a higher monthly premium — which can make the plan less attractive to seniors. Also the entire program is re-bid each year — meaning unhappy seniors can switch plans at the end of each year.

    Look at the rate of generic drug substitution in Medicare – it’s 70%+. Much higher than in any other country that uses a single payor / nationalized system. These systems have the same opportunity to generate savings as in the Medicare drug program, yet they have not done so, at last partly because there is little incentive to do so.

    What I’m saying is, yes there were structural changes happening. BUT, the Medicare drug program was structured in such a way as to take advantgae of these changes and perhaps to accelerate them. HC reform is not.





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  • Interview with ‘Growing Green’ water steward Mike Benziger

    by Tom Philpott

    An
    April 13, the Natural Resources Defense Council (NRDC) announced the four winners of its second annual
    “Growing Green” awards, which honor leaders in the sustainable-food
    world in four categories: “thought leader,” “producer,”
    business leader,” and “water steward.” I interviewed
    “thought leader” Fred Kirschenmann here and “business leader” Karl Kupers of Shepherd’s Grain here. Now I turn my attention to Mike Benziger, who brought home
    the “water steward” prize for his work at Benziger Family Winery.

    ——————-

    Mike Benziger on the family farm. When Mike Benziger and his family began growing grapes and
    making wine in 1970s-era Sonoma County, the prevailing agricultural style could be described as
    “scorched earth.” Agrichemical concoctions fed the vines, killed the pests, and flattened
    the weeds; plentiful well water provided easy irrigation.

    But such practices not only kill soil, they also deaden
    wine. Over time, the Benzigers began to rethink modern viticulture. One motivation was improving the product, making it stand out out from the gusher of wine
    coming out of Sonoma. Another was the sinking water table on Sonoma
    Mountain, where the family keeps its vineyards. Faced with surging water costs,
    the family began searching for new farming methods that didn’t treat water as a
    cheap and easy resource. Thus started an odyssey that inspired the family to
    convert its Sonoma property to biodynamic growing practices in the
    mid-1990s—and that won Mike Benziger recognition from the NRDC as a “water
    steward.” I caught up with Mike last week via phone.

    Q. Tell
    us about how Benziger saves water.

    A. It
    all started because we were running out of water—our wells were dropping.
    Necessity really was the mother of invention. We’re located on Sonoma Mountain,
    and water recharge was not happening anywhere near as fast as we were using
    the water. The bottom line in California is there’s probably not going to be
    enough water to go around.

    So,
    what are we going to do to address that? You throw climate change into that mix,
    and the problem gets that much more critical. There’s a saying in the wine
    business: wine is for loving, but water is for fighting. But it turns out that
    when you use significantly less water in the field, you can actually raise the quality
    of wine. There’s not a tradeoff between water use and wine quality. Of course,
    there are economic benefits, too—one of the biggest costs we incur at
    our facility is for pumping water out of the ground.

    So
    we looked to the vineyard first. Far and away, our growing practices used the
    most significant quantities of water. So, by designing vineyards that needed
    less water, by not planting in areas that had an excess demand for water, and
    by planting plants that were smaller, by planting plants that were less
    thirsty, by planting plants that had rootstalks that went deeper and pulled
    water from lower soil depth, we saved a lot of water.

    And
    we quickly found that by irrigating less and using less inputs, our grapes,
    olives, and other products were more concentrated in flavor, higher in quality,
    and had a longer shelf life to it.

    Q. Benziger
    is well-known in the industry for being certified biodynamic. Talk about the relationship between
    biodynamic growing practices and water conservation.

    A. When
    we first moved into our property in 1980, we hired the best advisors. And they
    told us, “Hey, you better get rid of all of the natural things in your
    vineyards and push them out to the other side of the fence. We don’t want any
    competition in your vineyards. Let’s get rid of all the insects, let’s get rid
    of all the weeds, let’s get rid of all the birds. We need to have this under
    control. Only vines should be in a vineyard area.”

    Over
    time, we did a pretty good job of killing everything. One day, we went outside
    and we didn’t hear a peep: we didn’t see an insect, we didn’t hear a bird, our
    soils were eroding because they were dead, and quite frankly, our wines were
    hit and miss. And that’s when we knew we needed to look for some farming practices
    that maybe treated the land with a little bit more respect.

    In
    about 1994-95, we started to look around for different farming practices.
    Biodynamic farming resonated with us because it did two things: it regenerated
    the land, meaning it built biological capital, and it individualized our
    product. And that was the thing that really, really attracted us. By farming
    this way, and by looking at biodynamics as a closed system of agriculture, we
    were able to individualize—make our property more distinctive over time.

    Biodynamics
    means recycling all the products within your property, and reducing the use of
    imported inputs … including water. Over time, our philosophy came to never ever
    feed the vine, but to only take care of the soil. When you feed the vine, when
    the food for the vine is put on the surface of the soil and then dripped in
    with an irrigation system, the roots stay right where the food is, which is
    right in the first eighteen inches. If we take care of the soil, the roots go
    deeper to find the nutrients the plant needs—the nutrients aren’t all there at
    the surface. The goal is to get the roots to explore the entire soil profile
    and to eventually get down to where more permanent sources of water are, which
    in our case, tend to be down below six to eight feet. Once we can tap into
    that, then we can really delay our irrigations and save hundreds of thousands
    of gallons of water.

    When
    the roots reach the lower depths, we can really tap into what I call the Holy
    Grail: and that is in being able to showcase what is called in the wine
    business the terroir of the property …
    the sense of place, the sense that the wine came from somewhere
    specific.

    Q. Animals are integral to biodynamic farming. What kind of animals
    are on your farm?

    A. In
    biodynamic farming, you try to eliminate the use of inputs by enabling natural
    systems, through use of  plants and
    animals. We use plants as habitat areas to bring in good insects that eat the
    bad bugs, which eliminate the need for pesticides, and we bring in the
    caretakers of soil biology and that eliminates the need for fertilizer.

    So
    we have cows, which provide the manures for our compost, and sheep, which are
    out in the vineyards every day during the fall, winter, and the early part of
    spring. With every step, sheep do three things: they eat, they shit, and they
    till. They’re pretty cool animals and they really invigorate the soil biology
    by keeping the grasses down low, that way we don’t have to bring our machinery
    in early when compaction is a problem. They also provide the ability to turn
    their manures into grasses under, so that they break down and they keep the
    soil biology humming. They also put little dents, not too many, but little
    dents in the soil that act to hold water and help to recharge the soil aquifer
    faster. The other thing they do, which is really important, is they take care
    of disease protection by turning under with their paws all the litter that’s
    left over from last year that usually has mildew and other bacteria in it; they
    turn it under and the soil bacteria take care of it right away.

    Virtually
    all farms had animals for 10,000 years. They’ve been pushed off most farms over
    the last hundred years because we decided that monocrops are more efficient.
    But we really didn’t look hard enough to see the real reasons why our ancestors
    were using animals

    Q. What
    else are you doing to reduce water use in the winemaking process?

    A. We’ve
    constructed wetlands that recycle 2-3 million gallons of water a year. All of
    the winery waste water and some of the grey water on our facility is captured
    in a pond and then, by gravity, it’s recycled through this large wetlands that
    acts as a kidney that cleans the water to an incredibly high level—to where it
    looks good enough to drink. That’s the water that we then use for landscaping,
    and we then use for irrigation. It’s used twice.

    In
    the actual winemaking process, we recently invested in what’s called
    “all-vibration technology.” We’ve eliminated all belts and all screws. And
    that right there, eliminated, I think, 18-20 percent of the water use for harvest last
    year alone, just converting out of belts and screws to these very
    easy-to-clean, very efficient vibration tables. They clean up almost by
    themselves.

    Then
    there’s cleaning wine barrels. You can imagine how hard it is to clean a
    60-gallon barrel and get it all clean on the inside when there’s only a little
    hole to work through. In the past, we used up to 25 gallons per barrel. But
    with the new technologies that we’ve invested in, which is based on steam,
    we’ve been able to get that to below 5 gallons per barrel.

    Q. Benziger
    is obviously known most for its wine—what else is grown on your Sonoma Mountain land?

    A. Yeah,
    we grow about 30 different types of vegetables and we make olive oil and we
    make honey. We have about 100 lamb. We
    sell all of our olive oil in the tasting room, then we supply local
    restaurants
    with vegetables and beef. We’re also trying to make on a regular basis
    what I call an estate meal, which is a meal made entirely off the property of
    the lamb or the beef or the chicken with all the vegetables that we grow, with
    the olive oil and the honey, tasted alongside the wines that are made right
    there in that system, and to see if there’s an overlap or a crossover in the
    flavors or the profiles or the textures of the wine or the olives oil or even
    the veggies.

    Q. Sounds
    like an old-school diversified Mediterranean farm—olive groves, vineyards,
    vegetables, meat, all growing right on top of each other.

    A. Our
    property is 85 acres and less than 40 of it are in grapes. Then the other 35 or
    40 are the biological support system for the grapes. The grapes are the lead
    character in the play. A lot of the time, [all the supporting actors] makes the lead character
    interesting. I don’t want to give the impression we think we’re perfect in
    terms of sustainability—we can always do better! But it turns out that by
    doing things like conserving water and improving soil health, we make better
    wine. So we’re committed.

    Q. Please
    recommend a few relatively inexpensive examples of your wines. Nothing too fancy—I work at Grist!

    A. First,
    I’d try the 2009 Benziger Sauvignon Blanc –– that’s just hitting the markets right now. Then I would recommend the 2006
    Benziger Sonoma Country Cabernet Sauvignon
    .
    And then we have another one called Signiterra that’s a blend of Merlot and Cabernet Sauvignon that is a biodynamic property
    in transition—that is an awesome wine. Those
    would be the three that I would recommend.

    Related Links:

    Cuba’s urban-ag revival offers limited lessons

    Interview with ‘Growing Green’ business leader Karl Kupers

    Fred Kirschenmann, winner of NRDC’s Growing Green “Thought Leader” award