Blog

[Note: This is a guest post by Shadox who writes the blog Money and Such. Money and Such is a blog about personal finance, career, career development, economics and general life commentary.]

Many people live at the edge of financial disaster. In most cases these people don’t realize the precarious nature of the financial situation in which they are placing themselves and their families. They believe that they are being responsible and living within their means, when in fact, they are building a house of cards which will collapse at the first sign of trouble. Their financial strategy is not a robust one, since they rely on the assumption that everything will continue to go well. These are single point of failure financial plans: all it takes to disrupt them is a single unexpected incident.

I have been doing a lot of thinking about this issue as part of our ongoing hunt for a new house. I see many people around me who make less money than I do, and are capable of making much smaller down payments, yet go for bigger, more expensive houses than I would ever consider. In many cases their plan appears sound: maybe both spouses are working and can easily make the house payments; maybe they think that the house is a good investment and will appreciate in value; maybe they expect their income to grow. The plan may currently be viable, however is the plan robust? That is, how much disruption can the plan take before it falls apart? Is there a single cog that can bring down the whole financial machine when it breaks? Is there a single point of failure?

In the case of our proposed house purchase I ask myself the following questions: will we be able to make our payments if I lose my job? Will we be able to make our payments for an extended period if my wife is unable to find a well paying job? Will this plan still be viable if a member of the family gets seriously ill or injured (God forbid)? The point is this: you never know what tomorrow will bring, and while a bigger yard and an extra bedroom is nice, having financial peace of mind is much, much nicer.

Robustness, i.e. resiliency in the face of adversity should be a primary goal of any financial plan. To make your plan resilient you need to take three steps: identify the risks; eliminate all risks that can be economically removed and mitigate others; and finally, plan for how you will deal with unmitigated risk. A plan is only sound if after you have taken these three steps you are capable of withstanding the remaining risk or are willing to live with the consequences. Let’s briefly look at these three steps:

Identify the Risks – naturally, you can’t identify ALL the risks and even if you can, there is not much point in doing so. Some risks are very remote, and others you can do very little about, but at the very least, make sure that you understand the major components of the risks that can disrupt your plan. In the case of buying a house, loss of income is a big potential risk; loss of the house due to a natural disaster is another; and so forth. Once you think you understand the big things that can go wrong, move to the next step:

Eliminate & Mitigate Risks – some risks can be largely eliminated through the miracle of insurance. For example, since we live in earthquake country, I would not consider buying a house without also buying earthquake insurance. The risk of losing the house to an earthquake, without having the financial resources to rebuild is simply unacceptable to me. Yet, the number of people who live in California and choose not to insure their houses against earthquakes is astounding…

In some cases it is possible to simply avoid the risk altogether. Moving to another state to buy a house might not be feasible, but making sure that the house you are buying is located on higher ground such that it doesn’t get washed away in a flood may be possible.

Plan for the Remaining Risks – it is impossible to eliminate all risk. I would love to insure myself against loss of my job, but unfortunately such insurance does not exist. Making sure that I don’t come down with some serious health condition is likewise not within my reach. There are many other similar examples. The point is that if you cannot eliminate the risk, you must plan for it.

For example, I can’t make sure that I won’t lose my job, but I can make sure that we will only buy a house if we can continue to pay the mortgage for a considerable period even if I am unemployed. The plan must be robust to at least one or two major disruptions. Hence, under our financial plan we carry health insurance (robustness in the event of a major illness), we make sure that we can support ourselves on a single income (resiliency in the case of unemployment), we have sufficient, safe and liquid assets that we can tap into if all else fails (a fall back in unforeseen circumstances) and so forth. You get the picture.

Accidents, disasters and unforeseen events will happen. The question is: is your financial plan robust enough to withstand them or are you running a plan that has a single point of failure.

Related posts:

1. Health Scare and Some Financial Questions? Yesterday, in a post on Lazy Man and Health, I…
2. Money’s 7 New Rules of Financial Security (Part 1) Money Magazine’s big headline this month is the 7 New…
3. My Financial Week in Review #6 So this is Friday… and what have I done… another…
4. Money’s 7 New Rules of Financial Security (Part 2) I’m reviewing Money Magazine’s 7 New Rules of Financial Security….
5. Weekly Financial Review #13 Here are some quick hit financial thoughts for this week:…

 When you hear of a German chocolate cake, your first thought is that Germany is where the cake originated – hence the name. This is one of those food items where the name is a bit deceiving, however. German chocolate cake gets its name from an ingredient it uses: German’s Sweet Chocolate. This chocolate was originated by the Baker’s Chocolate Company (now a subsidiary of Kraft Foods) in the mid 1850s and was named after it’s creator, Sam German. The story of the chocolate says that a misprint in a newspaper that included the recipe for the first German Chocolate Cake simply left out the “s” on the name, and this is why the chocolate is often known simply as “German.” The chocolate is similar to a semisweet chocolate, but has a higher sugar content to it. This means that recipes that use it tend to be a little bit sweeter than ones that don’t.

If you’re making a recipe that calls for German’s chocolate, or German chocolate, don’t worry if you can’t find it. You can substitute semisweet chocolate and still have a great finished product.

Zero Calories, Zero Clothes: Ashley Greene stripped down to her birthday suit for a new campaign with SoBe Lifewater. The actress — best known for her appearances in the Twilight films — agreed to have a special skinsuit painted onto her body as she modeled in the ad promoting the beverage company’s new zero calorie flavors, Cherimoya Punch and Strawberry Dragonfruit.

The colorful designs featuring amphibian scales were painted directly onto Ashley’s by makeup artist Joanne Gair. The body mask took an insane 12 hours to apply!

“Being a part of the SoBe skinsuit shoot in the Turks and Caicos was amazing. It took the artist 12 hours to paint the SoBe scales on each skinsuit, but it was totally worth it. It’s an experience I’ll never forget,” the 22-year-old gushes.

Photos from the shoot will debut in the 2010 Sports Illustrated Swimsuit Issue.

Today, the Chevrolet Volt took one step closer to showing up at a dealership near you. Exactly three years since the day the concept Volt made its debut, GM today produced its first advanced lithium-ion battery for the plug-in electric hybrid vehicle.

Last August, GM invested $43 million to prepare its Brownstown Battery Pack Assembly Plant for production of the lithium-ion battery packs for the Volt and other electric-vehicles with range extending capabilities.

GM said that it will start shipping batteries to its Detroit-Hamtramck plant later this spring for the final assembly of the Volt. Regular production at Brownstown and Detroit-Hamtramck will begin in the fourth quarter of 2010. The 160,000 square-foot plant currently employs 25 workers that will assemble the packs.

Click here for more news on the Chevrolet Volt.

Hit the jump for the press release and a video of the first Volt battery being produced.

2011 Chevrolet Volt:

2011 Chevrolet Volt:

Press Release:

GM Builds First Lithium-ion Battery for Chevrolet Volt

o GM is the first major automaker to manufacture an advanced lithium-ion battery pack in the U.S.
o Brownstown Township to be first high-volume U.S. automotive lithium-ion battery manufacturing site
o Plant’s battery cell processing, module and pack manufacturing capabilities strengthen GM’s in-house battery expertise

BROWNSTOWN TOWNSHIP, Mich. – Exactly three years since the day the Chevrolet Volt concept car debuted, GM today manufactured the first advanced lithium-ion battery for a mass-marketed electric vehicle at GM’s Brownstown Battery Pack Assembly Plant.

“This is an important milestone for GM – and a critical step in bringing the Chevrolet Volt to market,” said GM Chairman and CEO Ed Whitacre.

GM announced last August a $43-million investment to prepare the 160,000-square-foot, landfill-free facility for production of lithium-ion battery packs for the Volt and other electric vehicles with extended-range capabilities. The plant is part of a wholly-owned subsidiary of General Motors called GM Subsystems Manufacturing LLC.

In just five months, the Brownstown plant was converted from an empty facility to a production-ready battery manufacturing site. New machinery and specialized equipment have been installed and three primary assembly areas have been completed: battery module pre-assembly, final assembly and the battery pack main line.

The Volt’s battery pack is made up of multiple linked battery modules and more than 200 battery cells. The initial assembly area is where the prismatic-shaped cells are processed and installed by state-of-the-art flexible automated equipment into modules, which are then delivered to the battery pack main line.

The battery pack main line area features an Automated Guided Cart (ACG) system that includes operations for thermal and electrical assembly, along with quality and dimensional checks. The main line is also where battery pack final testing, verification and packaging for shipment take place.

Initial battery production at Brownstown will be used to validate the plant’s equipment and processes, and batteries will be sent to GM’s Global Battery Systems lab in Warren, Mich., for testing. This spring, GM will begin shipping batteries to GM’s Detroit-Hamtramck plant, the assembly location for the Volt, for use in production validation vehicles.

Regular production at Brownstown and Detroit-Hamtramck is set to begin in the fourth quarter.

GM is investing $700 million in eight Michigan facilities for Volt-related production, including $336 million in the Detroit-Hamtramck plant, which will benefit from battery research conducted at the battery lab in Warren; receive batteries from Brownstown; use tooling from Grand Blanc; take delivery of camshafts and connecting rods from Bay City; and dies, stampings and the Volt’s 1.4L engine-generator from three plants in Flint.

“The development of electric vehicles like the Chevy Volt is creating entire new sectors in the auto industry – an ‘ecosystem’ of battery developers and recyclers, builders of home and commercial charging stations, electric motor suppliers and much more,” Whitacre said. “These companies and universities are creating new jobs in Michigan and across the U.S. – green jobs – and they’re doing it by developing new technology, establishing new manufacturing capability, and strengthening America’s long-term competitiveness.”

In August, the U.S. Dept. of Energy selected 45 companies, universities and organizations, including GM, in 28 states for more than $2 billion in awards for electric drive and battery manufacturing and transportation electrification. Nearly half of that total is designated for cell, battery and materials manufacturing facilities in Michigan.

The Volt is an electric vehicle with extended-range capability. It is designed to drive up to 40 miles on electricity without using gasoline or producing tailpipe emissions. When the Volt’s lithium-ion battery is depleted of energy, a flex-fuel engine-generator seamlessly operates to extend the total driving range to about 300 miles before refueling or stopping to recharge the battery. Pricing has not been announced.

– By: Omar Rana

There’s plenty of evidence that the job market will begin to turn a corner very soon. Here’s more:

More employers plan to increase college graduate hiring than decrease it for the first time in more than a year.

The National Association of Colleges and Employers‘
index for college hiring rose to 98.2, up from 87.2 in November. The
index, based on the organization of career counselors’ survey of 122
employers and released Tuesday, covers employer expectations for
January through March.

More good news. This graph from Calculated Risk of initial unemployment claims shows a sharp drop-off from the 2009 high.

CR
likes to point out that unemployment will peak when the four-week average
sneaks below 400,000. At the current rate — the number is around 450,000 and falling by 10,000 per week — that’s projected to happen
by March. Still most long-term estimates project that unemployment will remain over 9 percent well into next year.

As the debate over Peter Mandelson’s Digital Economy Bill (which would represent a radical shift in copyright law in the UK) continues, it appears that Lord Lucas continues to propose all sorts of good ideas in response. You may recall that Lucas was quite explicit in questioning why such changes were needed when it was obviously the industry’s inability to adapt that was the problem. Later, he suggested adding a remedy for bogus copyright claims. His latest is to try to add an amendment that would require copyright holders to detail actual damages done by file sharing in their reports to ISPs notifying them of infringement.

This is a very sensible idea for a variety of reasons. Last year, we wrote about a fascinating paper that points out that, realistically, the only way to reconcile free speech with copyright law is to have copyright holders prove what damages were caused by the infringement. Every other limitation on free speech in the US (defamation, for example) has such a requirement. It makes no sense that copyright makes no such requirement. Now, obviously, the UK is different from the US and not bound by the First Amendment, but it’s hard to come up with any compelling reason at all that a copyright holder shouldn’t have to prove actual damages before making a claim of copyright infringement.

Permalink | Comments | Email This Story

A post today over at Pharmalot drew our attention to notices of job cuts that Merck and Pfizer had announced on a New Jersey government Web site.

Both companies have said they’ll cut thousands of jobs as part of the big mergers both completed last year, and these announcements account for a small fraction of those — 500 cuts for Merck, starting on Feb. 9, and 400 for Pfizer, starting on Jan. 31, according to the posting. Still, it seemed worth learning more, so we checked in with both companies.

The Merck announcement refers to cuts in the company’s U.S. sales organization, a Merck spokeswoman told the Health Blog. The cuts will actually exceed 500 people, and will include those who worked for both Merck and Schering-Plough before the merger. She also said the cuts apply to people who work both in New Jersey as well as other states. (Further reading: Our post from yesterday on what the CEO said about job cuts at the company)

The Pfizer announcement says the cuts are based in Monmouth Junction; a Pfizer spokeswoman told us that refers to the closure of the company’s Princeton R&D facility, which was announced last November. She also mentioned that Pfizer plans to maintain a significant presence in New Jersey, including facilities in Madison and Peapack.

Photos: Associated Press

Gamma Two specializes in  autonomous mobile robots for the home and office domains. The robots utilize their  ‘Cybernetic Brain’, a hierarchical system with multiple processors, including PCs and microcontrollers. The robots use sonars to perceive the world, a motor system to move around, an encoder system to estimate position, and a reactive system to avoid obstacles.

• Clear, colorless solution to be used for external application only
• Spectral DNC is good for Men and Women
• Start to notice new hair growth within three months of use
• Simply used twice per day, preferably morning and before bedtime

Product Description
Spectral DNC The world s most effective topical hair loss treatment Spectral DNC is the world s most effective topical hair loss treatment designed for androgenic alopecia and other types of hair loss in men. Clinically proven to help re-grow hair, it is also significantly more effective then Rogaine or any other topical hair loss treatment currently available. Spectral DNC has the following active ingredients: 5%% Minoxidil, Retinol, Aminexil SP94 Dihydrotestostero… More >>

Spectral DNC

Most people do not realise that when they face Pattern Baldness, the first thing that they do is to search for a cure such as medications and hair loss treatments. However, no matter how effective medications and hair loss treatments can do to stop hair loss, nothing beats the importance of prevention.

Preventing Hair Loss should always be considered as an important part or regimen when it comes to reviving and stopping hair loss. While most people think that Pattern Baldness are generally caused by genetics and is pass down through generations, how you live your life can directly influence the outcome of the treatment.

Proper preventive measures such as these below plays a very crucial role in reducing the pace of hair loss.

– Reducing Stress

Stress is a major contributor to countless number of health problems ranging from heart diseases, high blood pressure, chronic illnesses and hair loss. Our hair provides a general indication of the status of our general wellbeing. When you are under tremendous or continuous stress, your body stops to function normally and supply of vital nutrients and minerals that your hair needs are diverted to other important organs like your brains and kidneys. This in turn will shorten your hair’s life span and health.

– Adjusting Diets

Why has diet got anything to do with hair loss? Well, It has everything to do with it. In the modern society when eating a proper meal is a luxury itself, we tend to miss meals and vital nutrients that our body and hair needs. We are what we eat, and what most urbanites and workaholics take today is definitely beyond healthy. Excessive intake of salt of deep fried foods tax our body organs like the kidneys and liver. In return, it generates physical stress and illnesses. Getting a right diet based on the recommended intake is essential for maintain good health and hair.

– Proper Hair Care

Although it’s a myth to say that shampoos and hair dryers are a trigger for hair loss, if you are facing Pattern Baldness, it’s best to avoid chemically laden hair products that damage your hair. It won’t trigger hair loss, but it will cause other hair conditions like hair breakages, split ends not to mention the lack lustre look that will eventually add on to the effects of Pattern Baldness.

– Getting the Right Vitamins

In the current society, most foods that we take tend to lack of proper vitamins. That is because in some diets, limitations and habits, we take food that lack of vital vitamins and nutrients. Even some foods today are so poorly produced that they do not contain the necessary vitamins and mineral as they used to. Insufficient vitamins and mineral intakes that your hair requires can prompt early hair loss, whether it is related to Pattern Baldness or not. Our hair, just like any part of our body needs nourishment like vitamin B12, Biotin, Folic Acid, Iron, Protein and other indispensables to stay healthy. If your diet lacks of these essentials, it’s advisable to get vitamin supplements.

I can’t agree better that Pattern Baldness cannot be stopped by just these few preventive steps alone, but if you can adjust to these methods successfully, you are in much better odds when it comes to reversing hair loss. Coupled with the right hair loss medications like Propecia and Minoxidil, Prevention and Cure are the best solutions to Pattern Baldness.

See more about Preventing Hair Loss and related information here.

Unique Natural Treatment For Sciatica. It Is A Great Niche! Check For Yourself.

Cure Sciatica Naturally In 7 Days.

Well, baldness does not seem enough life threatening to be included in federal health programs, but it does take a toll on the victim’s personal, social, and professional life. While more men than women experience baldness, the consequences for women are more severe. Baldness or even thinning of hair can lead to social anxiety, lack of confidence, and a feeling of missing out on good professional, personal and social opportunities.

Causes

The first step toward treatment of baldness is diagnosing the underlying cause of hair loss. It could be a difficult case of bad genes handed down to you by your parents. It could be a side effect of medication. It could be a result of stress, particularly if you are a woman. Excess sebum, dirt, hair breakage, and dandruff can be contributing factors as well. In some case, even change in weather has been found to be the reason behind seasonal hair loss. Although not common, poor diet (lacking in essential proteins, vitamins, and/or minerals) can lead to hair loss as well. A variety of skin diseases can also cause permanent hair loss and balding. Radiation treatment and chemotherapy can also cause loss of hair.

Treatment

Proper baldness treatment depends on a correct preliminary diagnosis and this requires consulting with a qualified hair doctor. Since hair loss can have so many possible causative factors behind it, you might need to see more than one professional for a course of treatment.. A physician may start by putting you on supplements; if that fails not work, they might recommend a hair specialist, nutritionist, or even a psychologist.

Baldness treatment does not always start with physicians – many women consult their hairdressers before seeing a doctor. Your hairdresser may provide tips to prevent or lessen hair loss, but if the problem is severe, don’t lose time, go see a specialist in hair transplant surgery.

If you are facing female pattern balding, or your hair loss is severe and despite proper medical care chances of hair re-growth are meager, hair transplant surgery may be necessary.

A hair transplantation procedure involves extraction of follicles or a complete strip of hair from a donor area and surgical positioning of the same to the portions on the scalp lacking hair.

The popularity of hair transplantation surgery stems from the reason that the steps result in a natural appearance of the hair (not that the tacky look of a wig). Besides, grafted hair is your own living hair and can also be treated, dyed, and washed like natural hair.

Possibly related posts: (automatically generated)

• Related posts on Baldness
• Taoist Immortality Secrets – Elixir of Immortality | Soul Aura
• Man Hair Loss » Surgery versus laser treatment for hair loss …
• Medical Treatment That Works For Hair Loss

• Related posts on Causes
• Healthy Hints » Blog Archive » Colon cancer: causes, symptoms …
• How to prevent snoring « insomnia causes
• The Money Knot – Symptoms vs Causes « The Corey Story

• Related posts on Diagnosis
• Healthy Hints » Blog Archive » Colon cancer: causes, symptoms …
• Sex, Love, and Poly-Behavioral Addiction | Specific Substances
• Creativity and Productivity After an AMD Diagnosis