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  • Consumer Price Index Rises 0.1% in March

    The Consumer Price Index (CPI) rose just 0.1% in March on a seasonally adjusted basis, according to the Bureau of Labor Statistics. That matched consensus expectations and continues the trend of very low inflation. CPI was flat in February. Today’s data reiterates the narrative that inflation is not much of a concern at this time.

    First, here’s a chart showing CPI over the past year:

    cpi 2010-03 cht1.PNG

    As you can see, it has been quite low for some time and has been still lower over the past few months.

    To accentuate that point, the so-called “core” inflation — that which excludes food and energy — was flat in March. That’s even less than February’s tiny 0.1% increase (revised up from a 0.1% decline). Runaway core CPI is generally what can drive economists’ views on whether inflation is a concern.

    The following chart demonstrates just how low core inflation has been since the start of the recession, utilizing a 3-month average to smooth the bumps and better show trends:

    cpi 2010-03 chtmine.PNG

    Note that the vertical axis has very low numbers. Core CPI barely even peaked above 0.25% during this time. Since the start of 2010, it has been extremely low.

    This month, food and energy didn’t have much effect on broader CPI, since food prices increased by only 0.2% while energy prices were flat. The only major component with a price level that ticked above 1% this month was electricity, which rose by 2.1% month-over-month. The biggest price decline was from gasoline, which dropped 1%.

    In a longer-term context, CPI’s 12-month change tells mostly the same story. It has been very stable recently hovering in the 2% range. Core CPI appears to be forming a downward trend in 2010, now approaching 1%:

    cpi 2010-03 cht2.PNG

    Very low inflation and virtually non-existent core inflation suggests most Federal Reserve bankers and other policymakers probably won’t view inflation as a short-term concern. As Fed Chairman Ben Bernanke provides Congress with an economic outlook this morning, he will likely use the data showing very low inflation to reiterate his view that the central bank can safely leave interest rates low for an extended period. With other economic concerns like high unemployment and a struggling real estate market still worrying, inflation this low doesn’t warrant monetary tightening in the near-term.





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  • Saab pretende usar o 9-2 para concorrer com Audi A3


    Um dos próximos planos da Saab é o de trabalhar no re-lançamento de um de seus modelos clássicos, o 92 que foi produzido entre 1949 e 1956, e assim concorrer com outros carros como o Audi A3, BMW Série1, Volvo C30, etc.

    O presidente da Spyker, Victor Muller, confirmou o projeto mas disse que as maiores prioridades da marca são o lançamento do 9-5 nova geração, e o fechamento de novas parcerias para plataformas novas, componentes novos, entre outras coisas.

    Segundo Muller, o novo 9-2 pode receber muitos traços que lembrem o antigo 92, com uma carroceria mais aerodinâmica e um motor de 2 cilindros de 25cv. Também foi dito que o próximo modelo 9-3 vai ser produzido na mesma plataforma do modelo atual, que foi desenvolvida pela General Motors e ficou com a Saab após a negociação da empresa, reduzindo assim os custos de produção.

    Via | Autoportal


  • Arcade: Final Fight: Double Impact

     

    Final Fight™: Double ImpactContent: Final Fight: Double Impact
    Price: 800 Microsoft Points
    Availability: All Xbox LIVE regions except Japan
    Dash Text: (ONLINE INTERACTIONS NOT RATED BY THE ESRB) Final Fight: Double Impact takes you on a hard-hitting journey through Capcom history with the ultimate versions of arcade classics Final Fight and Magic Sword. Double Impact slams into your home with seamless online and local co-op multiplayer, new music by acclaimed remixologists, HD-filtered graphics, a host of unlockables to discover, and an integrated online leaderboard to prove your mettle! There are no refunds for this item. For more information, see www.xbox.com/live/accounts.

     

    Add Final Fight: Double Impact to your Xbox 360 download queue

     

  • Deal Flow: Lending Club and DebtGoal Get Funded

    Maybe it’s the onset of spring, but there seems to be a wave of funding announcements in the air, including a whopping round for collective-buying service Groupon that reportedly gives the company a $1.2 billion valuation. In the news today are two companies that have not only raised money from venture investors, but also provide services that revolve around money: Lending Club, a non-bank financing community that allows people to borrow from other members, closed a Series C round valued at $24.5 million; and DebtGoal, which provides online tools for people to manage and reduce their debt load, closed a Series A round of $2 million.

    Lending Club’s financing came from Foundation Capital, along with existing investors including Morgenthaler Ventures, Norwest Venture Partners and Canaan Partners. The company, which connects investors and credit-worthy borrowers and says that it has 79 percent of of the U.S. peer-lending market with more than $8.5 million in loans funded every month, argues that its non-bank structure provides lower rates for borrowers and provides investors with higher returns. The company takes a 1 percent handling charge on every loan, and doesn’t guarantee any of the loans.

    The company recently announced that it had surpassed $1 billion in loan demand, hit a monthly record in loan applications in February and issued its 10,000th loan, having now matched people who have received more than $95 million worth of loans since the company was founded in 2006. Prosper, the company’s main competitor, said earlier this year that it has arranged a total of $190 million in loans in its history and has close to one million members.

    As Liz reported in December, the peer-to-peer lending sector got a new lease on life recently, when the House of Representatives included an amendment that would see regulation of the sector moved from the Securities and Exchange Commission to a new banking regulator. The SEC had required P2P lenders to meet stringent criteria, including filing to register its loans as securities and clearing other regulatory hurdles. This stunted the market and caused many venture capital groups to shy away from financing companies like Lending Club, Zopa and Prosper, but that cloud seems to have lifted.

    If borrowing too much money — through banks or non-bank lenders like Lending Club or Prosper — becomes a problem, then you might become a customer of the other company with funding news today: DebtGoal, which launched in December of 2008, says it is the leader in “online personal debt-management solutions for consumers,” and that its proprietary algorithms can help users save an average of over $35,000 in interest payments and get out of debt 16 years sooner than they otherwise would. Its Series A round of $2 million came from Tugboat Ventures — which describes itself as an “early stage, mentor capital” firm — and Ed Odjana, founder of the debt-management site FreeCreditReport.com.

    Odjana and Dave Whorton of Tugboat Ventures have also joined the DebtGoal board of directors. The company also got an earlier seed round of funding from New Cycle Capital that totalled $1.1 million. DebtGoal provides a number of tools for users to manager their debt payments, including a “SmartPay Plan” that calculates an optimal pay-down plan based on the user’s preferences and ability to pay.

    Related content from GigaOM Pro (sub req’d): What The VC Industry Upheaval Means For Startups

    Post and thumbnail photos courtesy of Flickr user Eduardo

  • Malviviendo, fin de la primera temporada

    Malviviendo

    Último capítulo de la primera temporada de Malviviendo, “Se vende” pone punto y aparte en el que ha sido uno de los proyectos más relevantes del vídeo para internet en España junto a “Qué vida más triste” y a las animaciones de Cálico Electrónico. Si algo ha demostrado el proyecto de estos sevillanos es que en la red las barreras de entrada se han derribado, logrando una fenomenal audiencia tras conectar mejor que bien con gran parte del público joven con su fórmula de contenidos irreverentes e influencias “seréfilas”. Un buen producto, un gran impulso gracias a blogs y recomendaciones personales, distribución gratuita de los sitios tipo Youtube… y un duro camino hacia la rentabilidad del vídeo online son algunas de las claves para entender el fenómeno Malviviendo.

    Y es que Malviviendo también ha mostrado como las vías de negocio de los nativos del vídeo en internet son todavía muy complicadas a pesar del éxito de audiencia. Merchandising, “Product Placement”, “Brand Content”, fórmulas que potencian la presencia de las marcas en los contenidos en lugar de la separación que marca la publicidad convencional han sido los caminos que parece (no tengo cifras suyas) han explorado con mayor éxito. En cualquier caso, convendría anotar a Malviviendo como un ejemplo de lo que puede hacer la unión entre creadores y el potencial real de la red en estos tiempos en que se estudia “controlarla” para “protegerlos”.

    Os dejo con el último capítulo, con presencia además de un actor que siempre me ha encantado, Antonio Dechent.

    Relacionado: Malviviendo, una serie de televisión para internet


  • US Government Agrees, Piracy Stats Are Bloated

    We all are aware of the MPAA and  RIAA crackdown on file sharers and torrent seeders over the last two years. Well now that the crackdown is getting cold, recent studies have shown that it was all overrated. Most of the piracy claims and stats were overrated. The Government Accountability Office of the US government has checked and declared that it is

    difficult, if not impossible, to quantify the economy-wide impacts

    of software and music piracy. This study has been conducted over a year and a 32-page report has been released in PDF format.

    There was a factor of a “Substitution Rate” in earlier estimates of piracy. According to it, every lost sale was considered as a piracy. So basically, just the fact that you did not buy the software and inquired about it added to the piracy figures. It did not matter if you really bought a pirated copy after that, or just switched to a free alternative.

    MPAA went further to manipulate stats to show that college student accounted for 44% of piracy when the actual figure was close to 15%. Though, later they covered up by calling it a human error. Now, we all know it was a human error though not so much of a humane error!

    An interesting citation from the released PDF say that file sharing can actually help in sales and promotion. It appears at Techdirt and says,

    Consumers may use pirated goods to ’sample’ music, movies, software, or electronic games before purchasing legitimate copies,” the GAO continued. “(This) may lead to increased sales of legitimate goods.

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  • UT Science Forum: Soren Sorensen Explains Life Cycle of the Universe

    KNOXVILLE – Soren Sorensen, professor and head of the physics department at the University of Tennessee, Knoxville, will deliver this week’s UT Science Forum lecture, “The End of the Universe.” His talk will begin at noon on Friday, April 16, in Thompson-Boling Arena Dining Room C-D.

    The UT Science Forum is a weekly event where leading science researchers share their discoveries and discuss the frontiers of their fields in a way that the general public can understand.

    UT Science Forum programs are free and open to the public. Attendees are welcome to bring their lunches or purchase lunch at the Café at the Arena.

    Sorensen’s talk examines how the universe ages and will present scenarios that may happen at the end of the universe. Sorensen said he hopes to inspire discussion for anyone who wants to know more about the world around them.

    “Based on the science we know today, we can try to make some qualified estimates for what would be a reasonable scenario for the end of the universe,” Sorensen said. “I cannot say one thing is exactly what will happen. I am trying to extrapolate way, way out into the future to see what happens eventually to all the suns, the stars, the galaxies and all the materials we see around us.”

    In the featured video, Sorensen details more on his Science Forum discussion.

    The UT Science Forum is sponsored by the UT Office of Research. Upcoming presentations include:

    • April 23: Forbes Walker, associate professor of biosystems engineering and soil science, presents “Developing Conservation Agriculture Systems in Africa.”

    • April 30: Suzanne Lenhart, professor of mathematics, presents “The Power of Optimal Control: From Confining Rabies to Improving CPR.”

    For questions about the UT Science Forum, contact Mark Littmann, [email protected] or 974-8156, or Mike Clark, [email protected] or 974-6006.

    C O N T A C T :

    Bridget Hardy (865-974-2225, [email protected])

  • US National Academy of Science reports on GM crops

    Report Finds GE Crops Benefit Farmers, But Management Needed to Maintain Effectiveness



    Date: April 13, 2010
    Contacts: Jennifer Walsh, Media Relations Officer
    Molly Galvin, Senior Media Relations Officer
    Alison Burnette, Media Relations Assistant
    Office of News and Public Information
    202-334-2138; e-mail
    GENETICALLY ENGINEERED CROPS BENEFIT MANY FARMERS, BUT THE TECHNOLOGY NEEDS PROPER MANAGEMENT TO REMAIN EFFECTIVE
    WASHINGTON — Many U.S. farmers who grow genetically engineered (GE) crops are realizing substantial economic and environmental benefits — such as lower production costs, fewer pest problems, reduced use of pesticides, and better yields — compared with conventional crops, says a new report from the National Research Council. However, GE crops resistant to the herbicide glyphosate — a main component in Roundup and other commercial weed killers — could develop more weed problems as weeds evolve their own resistance to glyphosate. GE crops could lose their effectiveness unless farmers also use other proven weed and insect management practices.



    The report provides the first comprehensive assessment of how GE crops are affecting all U.S. farmers, including those who grow conventional or organic crops. The new report follows several previous Research Council reports that examined the potential human health and environmental effects of GE crops.
    “Many American farmers are enjoying higher profits due to the widespread use of certain genetically engineered crops and are reducing environmental impacts on and off the farm,” said David Ervin, professor of environmental management and economics, Portland State University,Portland, Ore., and chair of the committee that wrote the report. “However, these benefits are not universal for all farmers. And as more GE traits are developed and incorporated into a larger variety of crops, it’s increasingly essential that we gain a better understanding of how genetic engineering technology will affect U.S. agriculture and the environment now and in the future. Such gaps in our knowledge are preventing a full assessment of the environmental, economic, and other impacts of GE crops on farm sustainability.”
    First introduced in 1996, genetically engineered crops now constitute more than 80 percent of soybeans, corn, and cotton grown in the United States. GE soybeans, corn, and cotton are designed to be resistant to the herbicide glyphosate, which has fewer adverse environmental effects compared with most other herbicides used to control weeds. In addition to glyphosate resistance, GE corn and cotton plants also are designed to produce BACILLUS THURINGIENSIS (Bt), a bacterium that is deadly when ingested by susceptible insect pests.
    Farmers need to adopt better management practices to ensure that beneficial environmental effects of GE crops continue, the report says. In particular, farmers who grow GE herbicide-resistant crops should not rely exclusively on glyphosate and need to incorporate a range of weed management practices, including using other herbicide mixes. To date, at least nine species of weeds in the United States have evolved resistance to glyphosate since GE crops were introduced, largely because of repeated exposure. Federal and state government agencies, technology developers, universities, and other stakeholders should collaborate to document weed resistance problems and develop cost-effective ways to control weeds in current GE crops and new types of GE herbicide-resistant plants now under development.
    ENVIRONMENTAL BENEFITS
    Improvements in water quality could prove to be the largest single benefit of GE crops, the report says. Insecticide use has declined since GE crops were introduced, and farmers who grow GE crops use fewer insecticides and herbicides that linger in soil and waterways. In addition, farmers who grow herbicide-resistant crops till less often to control weeds and are more likely to practice conservation tillage, which improves soil quality and water filtration and reduces erosion.
    However, no infrastructure exists to track and analyze the effects that GE crops may have on water quality. The U.S. Geological Survey, along with other federal and state environmental agencies, should be provided with financial resources to document effects of GE crops on U.S.watersheds.
    The report notes that although two types of insects have developed resistance to Bt, there have been few economic or agronomic consequences from resistance. Practices to prevent insects from developing resistance should continue, such as an EPA-mandated strategy that requires farmers to plant a certain amount of conventional plants alongside Bt plants in “refuge” areas.
    ECONOMIC AND SOCIAL EFFECTS
    In many cases, farmers who have adopted the use of GE crops have either lower production costs or higher yields, or sometimes both, due to more cost-effective weed and insect control and fewer losses from insect damage, the report says. Although these farmers have gained such economic benefits, more research is needed on the extent to which these advantages will change as pests adapt to GE crops, other countries adopt genetic engineering technology, and more GE traits are incorporated into existing and new crops.
    The higher costs associated with GE seeds are not always offset financially by lower production costs or higher yields, the report notes. For example, farmers in areas with fewer weed and pest problems may not have as much improvement in terms of reducing crop losses. Even so, studies show that farmers value the greater flexibility in pesticide spraying that GE crops provide and the increased safety for workers from less exposure to harmful pesticides.
    The economic effects of GE crops on farmers who grow organic and conventional crops also need further study, the report says. For instance, organic farmers are profiting by marketing their crops as free of GE traits, but their crops’ value could be jeopardized if genes from GE crops flow to non-GE varieties through cross-pollination or seed mingling.
    Farmers have not been adversely affected by the proprietary terms involved in patent-protected GE seeds, the report says. However, some farmers have expressed concern that consolidation of the U.S. seed market will make it harder to purchase conventional seeds or those that have only specific GE traits. With the exception of the issue of seed industry consolidation, the effects of GE crops on other social factors of farming — such as labor dynamics, farm structure, or community viability — have largely been overlooked, the report says. More research is needed on the range of effects GE crops have on all farmers, including those who don’t grow GE crops or farmers with less access to credit. Studies also should examine impacts on industries that rely on GE products, such as the livestock industry.
    Research institutions should receive government support to develop GE traits that could deliver valuable public benefits but provide little market incentive for the private sector to develop. Examples include plants that decrease the likelihood of off-farm water pollution or plants that are resilient to changing climate conditions. Intellectual property that has been patented in developing major crops should be made available for these purposes whenever possible.
    The study was funded by the National Research Council. The National Academy of Sciences, National Academy of Engineering, Institute of Medicine, and National Research Council make up the National Academies. They are independent, nonprofit institutions that provide science, technology, and health policy advice under an 1863 congressional charter. Committee members, who serve pro bono as volunteers, are chosen by the Academies for each study based on their expertise and experience and must satisfy the Academies’ conflict-of-interest standards. The resulting consensus reports undergo external peer review before completion. For more information, visit http://national-academies.org/studycommitteprocess.pdf. A committee roster follows.
    Copies of THE IMPACT OF GENETICALLY ENGINEERED CROPS ON FARM SUSTAINABILITY IN THE UNITED STATES are available from the National Academies Press; tel. 202-334-3313 or 1-800-624-6242 or on the Internet at HTTP://WWW.NAP.EDU. Reporters may obtain a copy from the Office of News and Public Information (contacts listed above).


    [ This news release and report are available at HTTP://NATIONAL-ACADEMIES.ORG ]
    NATIONAL RESEARCH COUNCIL
    Division on Earth and Life Studies
    Board on Agriculture and Natural Resources
    COMMITTEE ON THE IMPACT OF BIOTECHNOLOGY ON FARM-LEVEL ECONOMICS AND SUSTAINABILITY
    DAVID E. ERVIN (CHAIR)
    Professor of Environmental Management
    Professor of Economics
    Department of Economics and Environmental Science and Management
    Portland State University
    Portland, Ore.
    YVES CARRIÈRE
    Professor
    Department of Entomology
    College of Agriculture and Life Sciences
    University of Arizona
    Tucson
    WILLIAM J. COX
    Professor of Crop Science
    Department of Crop and Soil Sciences
    Cornell University
    Ithaca, N.Y.
    JORGE FERNANDEZ-CORNEJO
    Agricultural Economist
    Economic Research Service
    Washington, D.C.
    RAYMOND A. JUSSAUME JR.
    Professor and Chair
    Department of Community and Rural Sociology
    Washington State University
    Pullman
    MICHELE C. MARRA
    Professor of Agricultural Economics
    Department of Agricultural and Resource Economics
    North Carolina State University
    Raleigh
    MICHEAL D.K. OWEN
    Professor of Agronomy
    Iowa State University
    Ames
    PETER H. RAVEN*
    President
    Missouri Botanical Garden
    St. Louis
    L. LAREESA WOLFENBARGER
    Associate Professor
    Department of Biology
    University of Nebraska
    Omaha
    DAVID ZILBERMAN
    Professor
    Department of Agriculture and Resource Economics
    University of California
    Berkeley
    RESEARCH COUNCIL STAFF
    KARA LANEY
    Study Director
    * Member, National Academy of Sciences

  • Broadband satellite doing fine

    Thanks to Tim Finnerty for the heads up on the Satellite industry: Broadband Satellite Markets Did Not Falter in Face of 2009 Economic Crisis.

    I find this amazing! I’m not surprised that people have maintained broadband connections because I think once you have broadband you realize that you can use it to offset other costs, such as long distance charges. I’m surprised that so many people get or maintain satellite broadband connections. I do think that satellite can be a godsend to folks who live outside the reach of other options but the latency can be frustrating.

    I had occasion to use satellite while I was on a boat from Scotland to Northern Ireland last weekend. Now I suppose it the worst case scenario – but it was pretty slow, better than nothing, but slow.

  • Holder Prepares for Senate Battle

    In 15 minutes it gets underway: Attorney General Eric Holder’s first big round of testimony to the Senate Judiciary Committee since the right began raising doubts about trying Khalid Shaikh Mohammed and the other 9/11 conspirators in civilian courts. Holder will probably want the hearing to focus on other Justice-related subjects, but it’s likely to become a showdown on the merits of the Justice Department’s place in a counterterrorism strategy, something the attorney general has vigorously defended. What will he say about civilian courts’ capabilities for trying terrorists? What will he say about the military commission alternative that the Obama administration has embraced as well? It’s all coming up momentarily.

  • Over 9,000 South Florida Foreclosed Homes in Bank Listings

    There were more than 9,000 South Florida foreclosed homes in bank listings in the first three months of this year, according to a Florida-based real estate firm. The number marked a jump of 25 percent from bank foreclosures in the first three months last year.

    Over 9,000 South Florida Foreclosed Homes in Bank Listings

    In March, there were 3,707 residential units taken back by banks in South Florida, the highest monthly figure so far reached over the past three years in the region. The monthly record broken was the 3,706 posted in December last year.

    Analysts contended that the number of bank owned homes could peak in South Florida in 2010 if state officials do not launch significant intervention schemes to cut down the number of foreclosed homes for sale.

    On the other hand, total foreclosure postings in the first quarter this year dropped by 21 percent from the 25,000 posted in the first three months last year, posting a little lower than 20,000 filings. South Florida counties are now on pace to post around 80,000 foreclosures this year.

    Meanwhile, the number of Florida foreclosed homes stepped up in February, topping all other U.S. states with an inventory of fairly maintained foreclosure homes and fixer uppers of 11.4 percent. Florida also topped charts of noncurrent mortgage loans with almost 24 percent of its active residential mortgages in delinquency.

    All in all, the percentage of delinquent mortgage loans in Florida in February was 12.4 percent, above the national home loan delinquency rate of 10.2 percent. Arizona also had the same level of delinquency rate, the fourth-highest default rate in the country in February.

    The other states with high mortgage default rates were California, Arizona, Illinois, Georgia, Mississippi, Nevada, Indiana, Ohio and New Jersey, which are also the states perennially occupying the top of foreclosure charts.

    The states with the lowest default rates were Colorado, Alaska, Montana, Minnesota, North Dakota, Vermont, South Dakota, Nebraska, Wyoming and Washington.

    Throughout the country, almost 8 million mortgage loans were in default or already in foreclosed status in February, a stunning increase of 26 percent from the same month last year. The one encouraging thing was that the February default rate marked a one-percent drop compared to the previous month.

    One indication of the continued increase in number of Florida foreclosed homes is the popularity of online foreclosure auctions in Florida, especially auctions sites operated by counties in South Florida. These sites have been auctioning off record numbers of foreclosures online over the past several months.

  • Reblog: Big Misunderstandings about ARRA Stimulus for Clean Energy

    By Arno Harris, CEO of Recurrent Energy

    A few weeks ago I flagged a story in the Christian Science Monitor titled “Stimulus Funds for Clean Energy Largely Unspent” because I thought it deserved a clarifying ‘blog post. The story repeats several big misunderstandings about the status of renewable energy programs included in the American Recovery and Reinvestment Act of 2009 (ARRA). The general thrust of the story is that the lack of immediate and large uptake of stimulus funds is a sign that the program isn’t working or having its intended result.

    The reality is that despite the low outflows of ARRA funds to date, the stimulus program is playing an important role in maintaining business continuity for developers of solar and wind projects in the US. In fact, the expiration of the program at the end of this year poses a major disruptive threat to the progress that’s been made in renewable energy in the US over the last few years. It’s critical that we get the program extended for a couple more years to enable the industry to recover fully.

    ARRA was passed in the early days of the Obama administration as the magnitude of the financial crisis began to unfold. Among its many provisions was a section intended to support continued development of renewable energy projects–particularly wind and solar projects. The provision allows wind and solar developers to receive a cash grant in lieu of the Investment Tax Credit (ITC).

    The industry lobbied hard for these grants because the financial crisis made it almost impossible to close tax-oriented financings. Prior to ARRA, most renewable energy projects in the US relied on tax credits–either the ITC for solar or the related Production Tax Credit (PTC) for wind. Because most developers don’t have large current tax liabilities, they cannot use the tax credits themselves. Instead projects were typically financed in partnership with a ‘tax equity’ investor (an entity with a large tax bill) who would make a cash investment in the project and receive the benefit of the tax credits in return.

    Just because the funds aren’t flowing doesn’t mean the ARRA renewable energy grants program has not been effective….

    With the financial crisis in full swing at the end of 2008, tax equity markets dried up and developers couldn’t get projects financed. As a solution, ARRA directed the US Treasury to offer developers a cash grant for projects equal to the previously utilized ITC. Using the cash grant disqualifies a project from using the ITC, so this was not an new incentive per se, just an new way of delivering the same incentive to the developer. The policymakers’ intent was to reassure developers that they could continue to advance projects with full confidence they could secure project financing.

    Because ARRA passed into law in early 2009, there’s a misperception that the industry has had full use of the grants since then. However, it actually took almost 9 months to get the grant program operational–there were procedures to define, rules to clarify, forms to create, websites to build, people to hire, etc. The ironic thing is that while everyone waited to see how the program was going to work, banks and developers put all project financings on hold. It just didn’t make sense to burn legal expenses on financing until it was clear exactly how the stimulus grants would be made available.

    By October of 2009, the program rules were published and Treasury was technically open for business. However, banks and developers were still waiting in the starting blocks. They weren’t ready to apply for grants, they were ready to start figuring out how to finance projects using the grants. At that point, they began pouring over the program documents and forms to figure out the best way to finance a project eligible for the grants.

    As a result, it really wasn’t until November/December 2009 that developers started to see financing term sheets begin to flow from banks into the market. Let’s think through the timeline implications of this for a typical solar project. Term sheets can take several weeks or months to get to signature. And getting from term sheet to financial close typically takes several more months. We’re just now closing the first of our ARRA-related financings–and I suspect many other players in the industry are on roughly similar timelines.

    What’s interesting is that even when a developer closes a financing, they don’t apply for the grant money–that doesn’t come until the end of construction. Apply that insight across the entire industry and you have a wave of  ARRA-stimulated projects that are likely to apply for funds mid- to end-of year.

    This brings me to the most important point: just because the funds aren’t flowing doesn’t mean the ARRA renewable energy grants program has not been effective. The very existence of the program has given banks and developers confidence to proceed with projects that otherwise would have been abandoned or mothballed. The flow of funds will become apparent later as the projects become operational. The key indicator to watch right now is NOT the flow of funds, it will be the flow of financing and construction announcements that we should start seeing with some frequency in the coming months.

    In closing, this is also why it is so important to extend the ARRA grants program for another two years. The industry has just gotten out of the starting blocks because of the delay in getting the grant program operational. Letting the program expire at the end of 2010 will seriously undermine market confidence and disrupt project finance markets just as they are emerging from the ruins of 2009. The US is poised to become the leading market for solar and renewable energy–we need to extend ARRA to ensure we make that dream come true.

    Link to original post

  • Earnings, economic news, Bernanke – Vialoux

    U.S equity index futures are higher this morning. S&P 500 futures are up 5 points in pre-opening trade. Early strength was triggered by higher than expected first quarter earnings reported by JP Morgan, Intel and CSX. They also offered positive second quarter guidance. JP Morgan gained 2%, CSX added 1% and Intel jumped 4% in pre-opening trade. JP Morgan likely will break above resistance at $47.36 this morning. 

    Index futures improved slightly following release of encouraging economic news. Consensus for March retail sales was an increase of 1.1% versus 0.3% in February. Actual was an increase of 1.6%. Excluding auto sales, consensus was an increase of 0.5%. Actual was an increase of 0.6%. Consensus for March Consumer Prices was an increase of 0.1% versus no change in February. Actual was an increase of 0.1%. Excluding food and energy, consensus was an increase of 0.1%. Actual was unchanged.

    Traders are awaiting testimony at the White House by Federal Reserve Chairman Ben Bernanke this morning.

    McDonald’s gained 1% after Janney Montgomery raised its rating from Neutral to Buy. Target price is $75.

    Goldman Sachs downgraded the fertilizer sector. Potash Corp fell 2% after Goldman changed its opinion from Conviction Buy to Neutral. Mosaic dropped 2% after Goldman downgraded the stock from Buy to Neutral.

    Talisman was downgraded by Raymond James from Outperform to Market Perform. 

    Don Vialoux, chartered market technician, is the author of a free
    daily report on equity markets, sectors, commodities, equities and
    Exchange-Traded Funds. For more visit Don Vialoux's Web site
       

  • The Euro Is Still Vulnerable

    In the short run, it now seems as if the euro has been saved.  Greece has received a massive infusion from the EU, its bonds are selling once again, the birds are singing and all is right with the world.

    But Wolfgang Münchau makes a persuasive case that in the long run, a Greek default remains very likely.  The structural adjustments required to get its budgets back into reasonable balance are simply massive (hence the demonstrations that keep turning into near-riots).  That is going to require considerable austerity from the population, not to mention unemployment.

    It has been done in the past, but with one key difference:  the countries involved were able to devalue their currencies.  This lowered the burden of paying debt denominated in the local currency, and it also made exports more competitive, giving a boost to employment.

    Greece doesn’t have this option.  It’s going to be stuck with a monetary policy that will be way too tight for the economic pain it is experiencing, exacerbating the difficulty of paying the debt, and the broader suffering of the citizenry.  Not to mention the political pressure to exit the euro.

    Though it’s weathered this episode, I continue to think that the euro remains extremely vulnerable.  The problems of running a monetary union between countries with vastly different business cycles, economic structures, and political resources, can apparently only be overcome with fairly massive transfers.  How many times will France and Germany be willing to open up their wallets?





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  • Video: Testes externos do superesportivo Venom GT de 1.200 cavalos

    Perto de chegar ao mercado, o superesportivo Hennessey Venon GT está afiando as suas garras para o ataque, realizando os últimos testes práticos fora da linha de montagem para enfim finalizar seu desenvolvimento. Os teste foram realizados nas proximidades do circuito de Silverstone, no Reino Unido.

    Como podemos observar no vídeo, o local isolado e com pistas de piso perfeitamente regulares, é mais que apropriado para que o superesportivo Hennessey GT Venon despeje a sua potência que pode chegar até os 1.200 cavalos de seu motor LS9 V9 Twin Turbo, possibilitando-o de acordo com a companhia atingir a velocidade máxima de 440 km/h.

    Se após apreciar o video você ficou impressioando com o modelo, confira mais informações técnicas e imagens do superesportivo Hennessey Venon GT.

    Fonte: Hennessey


  • Photobucket Mobile app for Android phones

    Found under: Android, Photos, Photobucket, Freeware,

    Photobucket Mobile is app for Android phone which can be used to transfer photos from your phone to your Photobucket account. With this app Photobucket is in your pocket everywhere allowing you to download photos for your phone wallpaper capture and upload new or existing photos alogn with browsing categories or search for something specific. Management of your albums is also available.Download Photobucket Mobile

    Read More

    Read more in mobile format

  • VOICES: Corporate overkill

    blankenship.jpgBy Phil Mattera, Dirt Diggers Digest

    There is so much corporate misbehavior taking place around us that it
    is possible to lose one’s sense of outrage. But every so often a
    company comes along that is so brazen in its misdeeds that it quickly
    restores our indignation.

    Massey Energy is one of those companies. Evidence is piling up suggesting that corporate negligence and an
    obsession with productivity above all else were responsible for the
    horrendous explosion at the Upper Big Branch mine in West Virginia that
    killed 29 workers.

    This is not the first time Massey has been accused of such behavior.
    In 2008 a Massey subsidiary had to pay a record $4.2 million to settle federal
    criminal and civil charges of willful violation of mandatory safety
    standards in connection with a 2006 mine fire that caused the deaths of
    two workers in West Virginia.

    Lax safety standards are far
    from Massey’s only sin
    . The unsafe conditions are made possible in
    part by the fact that Massey has managed to deprive nearly all its
    miners of union representation. That includes the workers at Upper Big
    Branch, who were pressured by management to vote against the United Mine
    Workers of America (UMWA) during organizing drives in 1995 and 1997. As
    of the end of 2009, only 76 out of the company’s 5,851 employees were
    members of the UMWA.

    Massey CEO Don Blankenship (photo) flaunts his anti-union animus.
    It’s how he made his corporate bones. Back in 1984 Blankenship, then the
    head of a Massey subsidiary, convinced top management to end its
    practice of adhering to the industry-wide collective bargaining
    agreements that the major coal operators negotiated with the UMWA. After
    the union called a strike, the company prolonged the dispute by
    employing harsh tactics. The walkout, marked by violence on both sides,
    lasted 15 months.

    In the years that followed, Massey phased out its unionized
    operations, got rid of union members when it took over new mines and
    fought hard against UMWA organizing drives. Without union work rules,
    Massey has had an easier time cutting corners on safety.

    Massey has shown a similar disregard for the well-being of the
    communities in which it operates. The company’s environmental record is
    abysmal. In 2000 a poorly designed waste dam at a Massey facility in
    Martin County, Kentucky collapsed, releasing some 250 million gallons of toxic sludge.
    The spill, larger than the infamous Buffalo Creek flood of 1972,
    contaminated 100 miles of rivers and streams and forced the governor to
    declare a 10-county state of emergency.

    This and a series of smaller spills in 2001 caused such resentment
    that the UMWA and environmental groups — not normally the closest of
    allies — came together to denounce the company. In 2002 UMWA President
    Cecil Roberts was arrested at a demonstration protesting the spills.

    In 2008 Massey had to pay a record $20 million civil penalty to resolve federal charges
    that its operations in West Virginia and Kentucky had violated the
    Clean Water Act more than 4,000 times.

    And to top it off, Blankenship is a global warming denier.

    Massey is one of those corporations that has apparently concluded
    that it is far more profitable to defy the law and pay the price. What
    it gains from flouting safety standards, labor protections and
    environmental safeguards far outweighs even those record penalties that
    have been imposed. At the same time, Massey’s track record is so bad
    that it seems to be impervious to additional public disgrace.

    Faced with an outlaw company such as Massey, perhaps it is time for
    us to resurrect the idea of a corporate death penalty, otherwise known
    as charter revocation. If corporations are to have rights, they should
    also have responsibilities — and should face serious consequences when
    they violate those responsibilities in an egregious way.

  • Enabling the Ecosystem: Snaptic, Part Two

    SnapticEnabling the Ecosystem is a series of interviews with those people and firms that are helping to build the overall Android ecosystem.

    This week’s interview is with Andreas Schobel, CTO of Snaptic, makers of the 3banana note-taking application. 3banana, unlike an ordinary note-taker, offers integration hooks to allow third-party apps to add and manipulate notes.

    AG: The API seems one-way. Is there any sort of reverse integration (e.g., a note has an Intent attached that allows the user to go back to the app that created the note)?

    AS: Developers can get a list of their notes and filter on #tag. We are looking at ways to allow more hooks back into the source app.

    AG: Similarly, is there any way for an app to delete its own notes, query its notes, update its notes, etc.? Or is it that once a note is in 3banana Notes’ (virtual) hands, it is up to 3banana Notes and the user to maintain the note?

    AS: The great thing about Intents is that it blurs the line between where your app ends and the other app starts. For example, when a user gets a list of notes from Tip Calculator, they also get an in-app list of all their tips, which allows the user to edit, update, and delete their notes.

    In general, the notes functionality is the same in an integrated app and 3banana. Intents allow full functionality of 3banana in an integrated app without having to leave the integrated app. The apps are speaking to each other. You don’t have to use 3banana to edit notes you saved in, let’s say, Tip Calculator. You can just use Tip Calculator to view and edit and Tip Calculator will tell 3banana about any changes. It also works if you make changes in 3banana to any Tip Calculator notes, 3banana will talk to Tip Calculator.

    AG: Are there any fees for developers to integrate with 3banana Notes?

    AS: There are no fees, and we have zero plans to have any. This is really a case where open is good for everyone. Developers win, apps are cooler, and customers benefit by having more use of their content.

    AG: What sorts of cross-promotional opportunities are there for developers who integrate with 3banana Notes (e.g., you promote them, they promote you)?

    We love to show off the neat ways people are integrating with our platform. We have a gallery of integrations and highlighted our partners at our South By Southwest panel we spoke at a few weeks ago. We are also doing some videos showing off the features, and are actually hosting a developer conference on May 27 in San Francisco.

    We are really interested in seeing Android continue to thrive and to keep creating new and more interesting feature combos that users love. We are planning on hosting a couple of these a year to create live opportunities to share ideas and work together. We are loading up on a really cool contingent of speakers and a hackackton for this event. We even have Marten Mickos, the former CEO of My SQL on deck at the conference to talk about running a startup that really leveraged open development. If anyone wants to check it out they can sign up for more info at snaptic.com/events, it is going to be fantastic!

    Might We Suggest…

    • Enabling the Ecosystem: Snaptic, Part One
      Want to integrate note-taking into your Android application? Consider integrating with 3banana from Snaptic — we profile what this means in part one of an Enabling the Ecosystem interview in today’s …


  • MarWare Photoshell Case Transforms your iPad into a Digital Picture Frame

    screenshot 07 MarWare Photoshell Case Transforms your iPad into a Digital Picture FrameI guess someone else figured out that not only is the iPad a portable media entertainment system but it would also make a great digital picture frame. Marware has come out with a bunch of cases that are called Photoshells. The Photoshell is recessed case shaped to look like a picture frame that perfectly accommodates 5×7 inch photos.  The case itself is made out of a smooth rubberized plastic and is perfect for not only makes displaying photos on your iPad cool but logos and signs as well. The MarWare Photoshell for iPad comes in assorted colors and is currently available for pre-order at Amazon for $39.99.

    screenshot 08 291x300 MarWare Photoshell Case Transforms your iPad into a Digital Picture Frame


  • AltheaDX Closes $6M A Round

    Ryan McBride wrote:

    AltheaDx, a San Diego-based developer of molecular diagnostics, reported yesterday that it had closed its $6 million Series A round of funding. Telegraph Hill Partners, of San Francisco, led the funding round. In September, AltheaDx filed papers with the SEC to report $3.6 million it had raised in the first-round financing. Magda Marquet, founder and co-CEO of AltheaDx, said in a statement yesterday that the fresh capital will support the firm’s partnerships with pharmaceutical companies to develop diagnostics that help predict whether a drug is safe for certain people.

    UNDERWRITERS AND PARTNERS