Source: http://www.alternative-energy-news.info/press/solar-energy-research-park/
Tuesday, July 10, 2012
College Launches Solar Energy Research Park
Northern New Mexico College, Espanola, New Mexico has launched an initiative to establish a dynamic Solar Energy Research Park and Academy (SERPA). Its current funding request of $9,000,000 has been introduced in an appropriations bill this legislative session (House Bill 146) and is sponsored by Speaker of The House Representative Ben Lujan. The bill has [...]
Vanguard Canada Gets a Six-Month Checkup
It’s now been a year since Vanguard set up shop in Canada, and just over six months since their ETFs began trading on the Toronto Stock Exchange. This week I had an opportunity to chat with Atul Tiwari, the affable managing director of Vanguard Investments Canada, about the company’s experience so far, and what we [...]
American Dream
Bill Moyers gives a preview of next week's show and asks for participation in the Deepening the American Dream Project.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/IQMJimIesFk/whats_the_future_of_the_americ.html
Monday, July 9, 2012
Trudy Lieberman and Dr. Marcia Angell
Bill Moyers sits down with Trudy Lieberman, director of the health and medical reporting program at the CUNY Graduate School of Journalism, and Marcia Angell, senior lecturer in social medicine at Harvard Medical School and former editor in chief of the New England Journal of Medicine.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/Wk9eGhGbarg/profile.html
Moyers on the True Costs of War
Bill Moyers on one mayor's efforts to make the cost of Afghanistan and Iraq manifest in his town of Binghamton, New York.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/MOslkJarYRQ/profile3.html
Why the European Debt Crisis Is Far From Over
Filed under: Economy, Investing, Credit, Currency
The European debt crisis is back in the headlines, and the news is not good. Portugal's prime minister resigned after his austerity plan for the beleaguered nation were rejected by opposition parties in parliament, and Germany's leadership is waffling on funding the huge bailouts needed by debt-burdened countries such as Ireland and Greece, reflecting the deep ambiguity of German voters weary of bailing out their weaker neighbors. Despite the brave talk of a few months ago, it now seems all but inevitable that Portugal will also need a gigantic bailout of at least 70 billion euros, or $99 billion.
Ratings agencies have downgraded Portugal's debt, and investors have responded by pushing the yield on its bonds to more than 8%, roughly 4.5% higher than the yield on German bonds. Yields on Ireland's debt exceed 10%, reflecting the perceived risk of default or renegotiation.
With Europe at risk of stumbling as a result of its austerity measures and the costs of bailouts, investors need to rethink investments in eurozone economies and the euro itself.
Eurozone growth is already anemic: France managed a meager 0.3% gain in the fourth quarter of 2010, and 1.5% for all of 2010, while the U.S. economy expanded 3.1% in late 2010.
The bailouts are not small potatoes. The temporary rescue fund, known as the European Financial Stability Facility, is currently set at 250 billion euros ($353.6 billion) , and European Union officials want to expand it to 440 billion euros ($622.3 billion). The wealthier nations of Europe have already loaned 177 billion euros ($250.3 billion) to bail out Greece and Ireland, and the high yields on those nations bonds and credit default swaps -- insurance against default -- show that investors continue to see a high risk of default.
Spain Also at Risk
While Spain's economy expanded at a modest 0.9% pace last year, its debt situation remains precarious enough that ratings agency Moody's recently downgraded its bonds. The basic problems of Spain will be familiar to Americans: A property bubble drove residential real estate prices to unrealistic heights, and lenders made loans based on those sky-high valuations. Once home prices retreated, banks were left with large quantities of defaults on land and houses.
Analysts are now suggesting Spanish banks will need at least 50 billion euros in additional capital ($70.7 billion) to cover these mounting losses.
As if these losses weren't troubling enough, rising interest rates threaten to further undermine Spain's homeowners. The European Central Bank President Jean-Claude Trichet recently said that the ECB's key interest rate could rise from 1% as early as April. Fully 97% of Spain's home loans are variable-rate: Their payments will rise when interest rates click higher.
Despite an unemployment rate around 20% and its recent debt downgrades, mainstream analysts see Spain as an unlikely candidate for a costly bailout. But Spain is burdened with the costs of bailing out its own banks, and other analysts are not so sanguine, citing a lack of information on the quality of assets held by the banks. In other words, some fear Spanish banks are overstating the value of their real estate holdings to hide the full extent of their losses.
Structural Flaws in the European Union Papered Over
While there is plenty of chatter about bailouts, austerity measures and heavy debt loads, few analysts are speaking to the potentially fatal weakness built into the European Union and its single currency, the euro, a flaw that is now painfully obvious.
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While the European Union consolidated power over the shared currency and trade, it left control over trade deficits and budget deficits entirely in the hands of the member states. Lip service was paid to fiscal responsibility via caps on deficit spending, but in the real world, there were no meaningful controls limiting private or state credit expansion, or on sovereign borrowing and spending.
In effect, the importing nations within the union (Ireland, Greece, Portugal and to a degree, Spain and Italy) were given the solid credit ratings and expansive credit limits of their exporting cousins such as Germany, The Netherlands and France. To make a real-world analogy, it's as if a spendthrift younger brother was handed a no-limit credit card with a low interest rate, backed by a guarantee from a sober, cash-rich and credit-averse older sibling.
For awhile, it was highly profitable for the big European and international banks to expand lending to these eager new borrowers. This led to over-consumption by the importing nations and handsome profits for big Eurozone banks. And while the real estate and credit bubble lasted, the citizens of the bubble economies enjoyed the consumerist dream of borrow and spend today, and pay the debts tomorrow.
Tomorrow has arrived, but the foundation of the banks' assets -- the market value of housing -- has eroded to the point that both banks and homeowners face insolvency. The heightened risk of default, both by banks and the governments trying to bail them out, has caused interest rates in the debt-burdened countries to rise. Faced with rising costs of servicing their debts, and spending cuts to bring deficits under control, the citizens of the states such as Portugal are rebelling against austerity measures. On the other side, taxpayers and voters in fiscally sound member states such as Finland and Germany are rebelling about being saddled with the costs of bailing out their weaker neighbors.
This structural imbalance will not be easily addressed, but until it's fixed, the E.U. and the euro, are at risk of a great political and fiscal fracturing.
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Source: http://www.dailyfinance.com/2011/03/27/why-the-european-debt-crisis-is-far-from-over/
'Dark Pools': Are Hidden Trades Undermining the Stock Market?
Filed under: Investing, Goldman Sachs , Market News
After the closing bell rings, whether it's the physical bell of the New York Stock Exchange or the virtual bell of the Nasdaq, you may believe that trading activity has ceased for the day and the shares of the companies you trade in are sitting quietly until the markets open again the following day. That's not necessarily true.Behind the scenes, your companies may be seeing trading action in so-called "dark pools," secondary stock markets that operate out of sight of the average investor and beyond the reach of regulators.
The Yin and Yang of Trading
In financial jargon, "dark" is the opposite of "displayed." Displayed pools are regulated, public stock exchanges, examples of which include the NYSE and the Nasdaq. In a displayed pool, anyone who wants to buy or sell a particular equity has an equal view of all the activity going on with that company's available shares, including the volume being traded.
Dark pools are private exchanges that are used by institutional investors. In dark pools, brokers are typically trading large numbers of companies' shares, shares the average investor has no access to. Private operators of dark pools include Liquidnet and Pipeline, as well as broker-run operations like Credit Suisse's (CS) CrossFinder and Goldman Sachs' (GS) Sigma X.
Why trade in dark pools at all? If an institutional investor tried to move a large block of a company's shares on a traditional public exchange, that investor would likely find that the large volume moved the market, with a resulting price distortion. By trading in dark pools, institutional investors can trade at the enormous volumes they need to without automatically putting themselves at a disadvantage.
The People's Market
According to Financial Times, there are about 50 dark pools operating in the U.S. Counting the big broker-run operations, the newspaper estimates that nearly 40% of equity trading volume now occurs outside the traditional stock markets and in these dark pools. That's a lot of trading being done outside the view of the average investor.
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The stock market has its origins as a people's market, a way for middle-class citizens to get a share in the world's burgeoning commercial activity beyond what they did to earn a living. The Dutch East India Company was famous for being one of the first public companies to let anyone off the street buy a share.But maybe more important, the stock market has been the primary capital creator for companies in the U.S. as well as the U.K. While German companies were more likely to turn to the banks for funding, and Japanese companies bought large blocks of stock in one another's companies to support growth, in America and Britain, companies rose on their ability to attract a larger volume of small investors.
Keep Investors Invested in the System
Dark pools are an invention of the marketplace, and serve a purpose. For big investors that need to move enormous numbers of shares around, dark pools offer a more level playing field. From the individual investor's perspective, one could argue that keeping these big trades off the public exchanges is also useful because of the price distortions they can inflict.
And for any commodity, there have always been wholesale and retail markets. Buyers and sellers who can deal in large quantities have always had pricing advantages over the average end-of-the-line consumer.
But just as an income gap can get so wide that those at the bottom lose faith in the system and stop participating in it, or worse, start to work against it, the perception of an overly tilted playing field on the trading floor can cause the average investor to lose faith in the equities market. And that trust is something regulators should look to preserve. Millions of nest eggs and college funds depend on it, as well as all the companies and jobs that nest-building creates.
John Grgurich is a regular contributor to The Motley Fool, and owns no shares of any of the companies mentioned in this column. Motley Fool newsletter services have recommended buying shares of Goldman Sachs.
Get info on stocks mentioned in this article:
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Source: http://www.dailyfinance.com/2012/07/09/dark-pools-hidden-trades-undermining-stock-market/
In Memorium
A Bill Moyers essay.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/ehFEtgU9WSI/watch3.html
Moyers: An American Abroad
A Bill Moyers Essay.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/MxIaAfzYr04/watch4.html
Three Ways To Stop A Bank Run
There's a slow-motion bank run happening in Europe, as depositors move their money from financially troubled countries like Greece and Spain to stronger countries like Germany.
Source: http://www.npr.org/blogs/money/2012/06/12/154719542/three-ways-to-stop-a-bank-run?ft=1&f=127413671
3 Things The Fed Could Do
When the leaders of the Fed meet later this month, will they take any new steps to try to boost the economy and bring down unemployment?
Dodge Poetry Festival
Bill Moyers celebrates poetry at the Geraldine R. Dodge Poetry Festival, which included renowned poets Coleman Barks, W.S. Merwin, Stanley Kunitz, Kurtis Lamkin, among many others.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/SpThdw9hQJo/watch3.html
Securing Health Insurance for Your Golden Years
With more sophisticated and effective medical treatments and procedures available in the last few decades, health care costs have risen dramatically. These days, paying for health care out of your own pocket can be tantamount to financial suicide in some circumstances. This means that now more than ever, it is very important that a retiree be able to secure health insurance. To get you started on how to tackle this issue for your retirement planning, we have compiled some valuable information.
A Longer Lifespan Equals a Greater Need for Health Insurance
Thanks to the aforementioned advancements in the medical field, the average lifespan of many human beings have increased over the years. While this should only be seen as a good thing, you should also be aware that this translates to a longer period of time where health insurance is needed. Many people are living thirty years or more past their retirement age. Unfortunately, thanks to the fact that our bodies are more prone to illness and injury, securing health care is more important than ever.
Medical Costs: A Realistic Look
All of this conjecture is nice and dandy, but what exactly does it mean in raw numbers? According to Fidelity Benefits Consulting, a couple 65 years of age who retired in 2011 can expect an estimated $230,000 in medical costs over the years. Not only does this figure sound astronomical, but it doesn't even include nursing home care.
Hard Times for Early Retirees
Retiring early can cause a host of problems. Many retirees plan to utilize programs such as Medicare to help them with medical expenses. But since you cannot apply for Medicare until you're 65, retiring early means you'll be forced to find your own coverage between the time you retire and the time you can apply. If you have health insurance through your employer, it may be able to extend your benefits to cover this gap, but it is possible that it might not continue at all. Even if it does, you may see an increase to your premium or a vast difference between individual and family plans.
Medicare: Insurance For Retirees
A large number of retirees are planning to use Medicare as soon as they are eligible which, for most people, means upon turning 65. This isn't anything new. Retirees have been utilizing this program since its inception. Medicare provides a number of benefits, such as:
Hospital Insurance -- Just as the name suggests, this part of the plan will cover hospital expenses. But it will also cover some home health, nursing facility costs, and hospice care.
Medical Insurance -- For the most part, this will cover physicians and outpatient care. It may also include home health coverage, if you choose not to have Hospital Insurance.
Medicare Advantage: An Alternative
If you're not interested in the standard Medicare plans as illustrated above, another option is to enroll in Medicare Advantage. These plans are maintained by private institutions that contract with Medicare to provide coverage. With this, you will have a number of different plans, just like you would have with a standard type of medical coverage. You'll need to compare several elements of the plan, such as premiums, co-pays, and network providers, among a number of other available options.
Medicare: What's Not Covered
If you're going to apply for Medicare, it's important that you realize what is not covered. If you need coverage for care such as dental, vision, hearing, or even long-term care, you will need to do so independently. Medicare does not include any of these needs.
Padmasree Warrior of Motorola talks about the next big thing for mobile phones: posting video blogs
People attending the Emerging Technologies Conference at MIT this week have a chance to see Motorola's next-generation phone, the KRZR. The company is also showing off some video-blogging software that's still in development.
Source: http://www.technologyreview.com/blog/VideoPosts.aspx?id=17424
Affluent Say 'Raise Social Security Age'
Earlier this year, Bank of America conducted a study entitled the Merrill Lynch Affluent Insights Survey. This study, which began in 2009, focuses on a variety of subjects each year, with an overall goal to provide a bit of insight into the financial and retirement needs of the American public. For 2012's survey, they asked questions regarding the current state of retirement and Social Security.
Mark 2022 on Your Calendars
One focus of the survey conducted by Bank of America was regarding Social Security. As you may have heard, the Social Security is currently being threatened. This is because the gap separating the amounts being collected and the amounts being paid out is widening. At some point, the collected amounts will overcome the checks being sent out. According to estimates, this will happen in the year 2022. Once that happens, it is possible that the amounts that people receive (which are already very low) will decrease. This is why many people believe that changes must be made to the system.
An Older Workforce
Statistics from 1993 show that 29% of the United States' workforce was older than 55, according to the Labor Department. Last year, their newest survey showed that the number had risen to 40%. These results demonstrate that an increasing number are not retiring simply because they reach a certain birthday. Yes, this is how things worked in the past, but the American sentiment has changed. Now people are retiring not because of their age, but simply because they are ready and/or feel that it is the right time.
Survey Backs Up Older Workforce
Bank of America's survey backed up the above sentiment. The results show that, of the individuals surveyed who were under 62 years of age and had not yet retired, 62% were not planning to retire early. Instead, a number of them planned to put off their retirement for as long as possible, both for financial and personal reasons. In addition to this, the survey also showed that not quite 15% of those over 50 stated that age would be a main reason concerning their decision of when to retire. These results show that, for one reason or another, the average American worker is more than willing to keep working, and that number is likely to continue increasing.
Affluent People Say "Raise the Retirement Age"
The study from Bank of America shows that affluent individuals believe that the retirement age should be raised in order to affect change to the current Social Security outlook. In fact, of those with at least $250,000 in assets, 59% felt this way. If the retirement age was increased to match our increased life expectancy, it could fix the problem of the widening gap between the amount being collected and the amount being paid to retirees, at least for quite a number of years. The only thing missing from the survey was a specific age that respondents would consider having the retirement age raised to, though adding on at least a few years would probably be acceptable.
Different Study Shows Concern For the Deficit
Toward the end of last year, Wells Fargo had its own survey completed. The results showed that 47% of respondents with assets totaling at least $100,000 believe that a cut in benefits, whether from Social Security or Medicare, would help lower the U.S. debt. However, the study also indicated that only 23% of a person's retirement funds would come from Social Security. This indicates that other sources of continuing income during retirement are necessary, despite concerns of the deficit.
Source: http://firstsecurityfinancialshow.com/blog/bid/154640/Affluent-Say-Raise-Social-Security-Age
Sunday, July 8, 2012
Report: Education Priorities for Renewable Energy Future
A significant role can be played by universities in research, in extension education and in educating professionals if the United States is to achieve a 25x’25 renewable energy future, according to a white paper issued today by the National 25x’25 Steering Committee. The paper, Research and Education Priorities in Agriculture, Forestry and Energy to Achieve [...]
Source: http://www.alternative-energy-news.info/press/report-education-renewable-energy-future/
Working Late, Choice or Not
As the saying goes: Times, they are a'changing. Gone are the days of retirement filled with nothing but lazy days around the house and restoring that old clunker in your garage. While those can still be possibilities, it is increasingly likely that your retirement days may be full of something you've been quite familiar with for decades: employment.
The fact is, more elderly citizens are working through their retirement. To 
find out why, the Employee Benefit Research Institute conducted a survey aimed at this very phenomenon. Let's take a look at a few of the reasons they discovered that help to explain why retirees are continuing to work.
find out why, the Employee Benefit Research Institute conducted a survey aimed at this very phenomenon. Let's take a look at a few of the reasons they discovered that help to explain why retirees are continuing to work.Reason #1: Retirees don't have enough savings.
This one should be obvious. If you don't have enough savings, you're going to want to continue working for as long as you can. The survey conducted by EBRI showed a drop in the number of people who either have money saved themselves or whose spouse has saved. In 2009, that number was 75%. But in 2012, it is only 66%. That is definitely not a good sign.
Other numbers are alarming, as well. The survey found that approximately 60% of workers have less than $25,000 socked away (not including a house or pension). Even worse, 30% claimed to have less than $1000 in savings. These numbers clearly show that far too many people are not taking part in retirement planning. If these people don't start gaining control over their financial portfolios, many of them will be in bad shape throughout their retirement.
Reason #2: Retirees have never felt safe when it comes to job security.
A number of workers do not concern themselves with planning for retirement because they're too worried about their current employment situation. The days of staying with one job from the age of 18 until you are ready to retire are pretty much over. Instead, workers are constantly worried about when they might find themselves on the chopping block. In other words, people approaching retirement have more pressing concerns at the current time than worrying about how they'll deal with retirement. Although that might not be a healthy stance to take, many Americans can understand such a sentiment.
Reason #3: Retirees have too much debt.
Debt is a big problem in this country. Whether it's taking on a house or car payment that is outside your comfort zone or racking up credit card debt and medical bills, many people closing in on retirement are trying desperately to pay off their debts so that their retirement can run smoothly. The problem with this is that focusing all of your energy on your debt and none on saving for your future can end up causing the very problems you're trying to avoid. Nowadays, many retirees are planning to work after they've retired to help alleviate their financial stress.
Reason #4: Retirees have lowered their expectations.
In years past, retirees often looked to their retirement with a sense of happiness and excitement. But given the current state of things, many are not counting on having such an easy time. Not only will many not be able to take an early retirement due to financial concerns, many of them will rely on remaining in the workforce in order to survive. The EBRI survey showed that the number of workers who plan to retire after 65 is up to 37%. That is a 26% increase since 1991. Which means many retirees feel they have no choice but to work through their retirement.
Source: http://firstsecurityfinancialshow.com/blog/bid/162804/Working-Late-Choice-or-Not
Expose on the Journal: The Business of Poverty
As more companies view low-income Americans as opportunities for profit, the "poverty business" is booming. Bill Moyers Journal and EXPOSE: AMERICA'S INVESTIGATIVE REPORTS follow a team of BUSINESSWEEK reporters as they track new corporate practices that some say exploit the working poor.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/dOvLMbdNtZo/profile.html
Canadian Personal Finance Happy Hour – Sixth edition – Heatwave!
Well it seems like summer is finally here. I feel so bad for our American friends (St. Louis and Washington are setting heat records in the triple digits and multiple deaths have been reported). Living in Victoria, BC we might get 5-6 days greater than 90F each year. I don’t enjoy the scorching heat but [...]
Steve Fraser on Gilded Ages
Bill Moyers also interviews Steve Fraser, historian and author of Wall Street: America's Dream Palace, about the modern parallels and differences to the first Gilded Age, the big disparity between the rich and poor, and the increasing strain on working Americans.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/xWtC9RJhbIg/profile2.html
Rage on the Radio
What happens when America's airwaves fill with hate? Bill Moyers Journal takes a tough look at the hostile industry of "Shock Jock" media with a hard-hitting examination of its effects on our nation's political discourse. The Journal traveled to Knoxville, where a recent shooting at the Tennessee Valley Unitarian Universalist Church has left the pastor asking what role hateful speech from popular right-wing media personalities may have played in the tragedy.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/-sn2EfRxMvQ/profile.html
Debt crisis: Spain poised for more austerity
Spanish Prime Minister to unveil plans to cut debt mountain further.
jpmorgan: @petermillar Nope, it was light blue with a "The Players" logo on the breast...can't find it anywhere! It was very sharp!
jpmorgan: @petermillar Nope, it was light blue with a "The Players" logo on the breast...can't find it anywhere! It was very sharp!
Source: http://twitter.com/jpmorgan/statuses/203232884176322560
Moyers on Memorial Day
Moyers on Memorial Day.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/XAr1TeIm5oQ/watch3.html
Globalization and Measurement Conference
I'm about to go down to DC to attend this conference (I'm giving the after-dinner remarks as well)
Measurement Issues Arising from the Growth of Globalization
This is a very important conference as we try to figure what is *really* going on in the U.S. economy. I'll be writing more about it.
Source: http://www.businessweek.com/the_thread/economicsunbound/archives/2009/11/globalization_a.html
Middle Class Squeeze
With celebrations set to kick off in Denver for the Democratic National Convention, the JOURNAL travels to Colorado where tough economic times are hitting suburban communities.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/sWJDIrlrUzI/profile.html
But I don’t like roller coasters! I like carousels.
What I feared has come upon me… ~ Job
(JOB. Coincidence? I think not.)
Target bal
Current/
Portfolio
Gain/(loss)
YTD
Annual
Dec-11
209,769
Invested
Actual
Gain
less inv
%
%
Jan
217,292
217,288
7,519
7,519
3.6%
43.0%
Feb
224,815
5,000
224,808
15,039
10,039
4.8%
28.7%
Mar
232,338
15,000
235,273
25,504
5,504
2.6%
10.5%
Apr
239,861
235,568
25,799
5,799
2.8%
8.3%
May
247,384
5,000
227,578
17,809
– [...]
(JOB. Coincidence? I think not.)
Target bal
Current/
Portfolio
Gain/(loss)
YTD
Annual
Dec-11
209,769
Invested
Actual
Gain
less inv
%
%
Jan
217,292
217,288
7,519
7,519
3.6%
43.0%
Feb
224,815
5,000
224,808
15,039
10,039
4.8%
28.7%
Mar
232,338
15,000
235,273
25,504
5,504
2.6%
10.5%
Apr
239,861
235,568
25,799
5,799
2.8%
8.3%
May
247,384
5,000
227,578
17,809
– [...]
Source: http://singlemomrichmom.com/but-i-dont-like-roller-coasters/
Saturday, July 7, 2012
Couples Money: Savers Vs. Spenders
The conventional wisdom in relationships is that opposites attract. It seems very common for a compulsive spender to hook up with a compulsive saver. Research shows that men are nearly three times more likely to be tightwads than spendthrifts. In my family it’s just the opposite. I’m the saver and my husband is the spender. ...
Source: http://www.boomerandecho.com/couples-money-savers-vs-spenders/
Sector Breakdown of Diversified Portfolios
In a recent column, The Globe & Mail’s Rob Carrick (see Beware the limitations of buying the index, May 11, 2012) pointed out that investing in just the TSX Composite index might leave an investor with an unbalanced portfolio because of the index’s concentration in just three sectors: financials, energy and materials. The criticism is [...]
Sector Breakdown of Diversified Portfolios is brought to you by Canadian Capitalist -- Helping you to invest & prosper.
Source: http://feedproxy.google.com/~r/ccapitalist/~3/VyHNoEOYrh4/
Microsoft Surface keynote vs. Apple iPad keynote
A video compares the Microsoft Surface keynote to the Apple iPad keynote two years prior. The main difference is that the iPad didn't crash.
Source: http://www.zdnet.com/blog/apple/microsoft-surface-keynote-vs-apple-ipad-keynote/13172
Couples Money: Savers Vs. Spenders
The conventional wisdom in relationships is that opposites attract. It seems very common for a compulsive spender to hook up with a compulsive saver. Research shows that men are nearly three times more likely to be tightwads than spendthrifts. In my family it’s just the opposite. I’m the saver and my husband is the spender. ...
Source: http://www.boomerandecho.com/couples-money-savers-vs-spenders/
David Sirota and Thomas Frank
Political columnist and blogger David Sirota and WALL STREET JOURNAL columnist Thomas Frank talk with Bill Moyers about their hopes and expectations of this administration.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/EDuv8olgo7c/profile.html
What’s New Around The Blogosphere: July 6th, 2012
I read an interesting story on Moneyville yesterday about a Toronto home buyer who paid $90,000 over asking price because they thought they were in a bidding war for the house. Turns out they were the only bidder, and the clients’ real estate agent clued in when their offer was accepted immediately without any counter-bids....
Source: http://www.boomerandecho.com/whats-new-around-the-blogosphere-july-6th-2012/
Golden Age a Thing of the Past
It's been a long time coming, and we hate to be the ones to break it to you, but the Golden Age of Retirement may be over. The signs have been there for years, and the outlook grim, but at this point, there's just no denying the facts.
There's a good chance that you have a relative who is still living out his or her Golden Age. It's a little like window shopping. You can see what they're getting, and it's within your grasp, but there's something keeping you from it. Of course, that doesn't mean that achieving the equivalent of the Golden Age is impossible. It's simply going to take a lot of work.
Let's look at some facts, shall we?
Fact #1: Older Baby Boomers don't know how well they have it.
It's a bit simplistic to say that older Baby Boomers have it "easy." Easy is a relative term, one up for debate. But the fact remains that in a lot of ways, Baby Boomers have had a cushier time of retirement. Many of them are doing well for themselves financially, due to windfalls such as company pensions. Some even have sizable inheritances. And statistically, they have a greater chance of maintaining a good amount of equity in their homes.
Fact #2: The Great Recession was devastating.
It's been nearly five years since the Great Recession started, and two years since it officially ended. A number of people, too large a number really, were devastated by what occurred. Many of them lost their jobs, and some individuals approaching retirement had no choice but to retire. This financial crisis also cut down on the number of large inheritances that had been provided to Baby Boomers in the past.
Fact #3: Personal responsibility appears to be waning.
It is an unfortunate fact that many people play the "blame game." When something catastrophic happens, like a plunging market or the loss of their job, a number of people react by trying to find someone to blame. They accuse executives of wrongdoings, cast aspersions on those in the government, and even try to find fault with their own relatives who might have suggested a specific financial strategy that went wrong.
While some or all those things might be to blame, it is important that you also take some personal responsibility when it comes to your retirement planning. The truth is, many people aren't saving anything for their retirement. Not "a little." Not "just enough." Nothing ... or very close to it. Procrastination seems to be a part of the American tradition in a lot of ways. And as you can imagine, putting off saving for your future isn't exactly the best plan. Yet millions are joining the fray.
Fact #4: Spending has not stopped.
This is an offshoot of "personal responsibility." For several years, Baby Boomers became accustomed to a steady flow of cash. If they wanted to buy something, they bought it, often without looking at the price or the balance of their checkbooks. They knew they had money, and even if they began running low, they had a pension, inheritance, or some other financial windfall to held carry them through their retirement. Strangely enough, individuals who are now approaching retirement are also taking that same stance. The problem, of course, is that this Golden Age is over, and thus, so is the "willy nilly" spending. It's time to tighten those pocketbooks and realize that times have changed.
Source: http://firstsecurityfinancialshow.com/blog/bid/169444/Golden-Age-a-Thing-of-the-Past
A Homemade Principal-Protected Note
Given the widespread fear among investors today, it’s not surprising that financial institutions offer a staggering number of structured products that come with guarantees. Both market-linked GICs and principal-protected notes (PPNs) ensure you will not lose your initial investment, while also offering a chance to profit if the equity markets do well. Investors clearly find [...]
Financial Crisis Creates Productivity Bonanza? No.
This morning's productivity numbers showed a huge gain in output per hour in the third quarter--up at an annual rate of 9.5% in the nonfarm business sector.
But here's something else. If we are to believe these numbers, the biggest financial crisis since the Great Depression has actually produced a productivity gain of 5.1% since the downturn started in the fourth quarter of 2007.
If you think that productivity has risen by 5.1% during the financial crisis, I've got a subprime bond to sell you.
Let me get this straight. We have a collapse of the housing and construction sector, massive layoffs in almost every part of the economy, a sharp downturn in consumer spending, and bank failures on an astonishing scale---and the numbers show an increase in productivity?
It defies common sense.
I suggest two reasons why the numbers are off. First, as in my recent cover, companies are cutting educated workers such as scientists and engineers who are not directly involved in the immediate production process. This means a drop in important but unmeasured intangible investments in R&D, product development, training, and advertising, which are not getting picked up by the GDP statistics.
Second, and this is relevant to the DC conference mentioned in the previous post, the statistics are being greatly distorted by globalization. Let's take a look at the computer purchases and supply, as reported by BEA.
According to the BEA's number, final sales of U.S.-produced computers has *risen* by 3.9% since 07IV, while imports of computers have *fallen* by 1.5%. Over the same stretch, employment in the computer industry has fallen by 12.5%. Being incredibly simple-minded, that would suggest that productivity in the U.S. computer industry has risen by about 19% in the downturn. Not bad, if true!
But there's a problem. According to the BEA's stats, the price of imported computers has fallen by 9.6% since the end of 2007, while the price of computers to consumers has fallen by 22.2%.
That doesn't make sense. It's far more likely, as I argued here, that the import price stats are mismeasured.
If we assume that import computer prices really fell at the same rate as domestic consumption, that would mean import growth is really faster, and domestic output growth is slower, as is productivity growth. By my back of the envelope calculation, the effect on computer industry productivity growth is potentially huge (I'll give the details later after I have had a chance to check them). This sort of calculation extends to the rest of the economy, though less dramatically.
So for these two reasons, I am quite skeptical of the proposition that the financial crisis has increased output per hour.
Source: http://www.businessweek.com/the_thread/economicsunbound/archives/2009/11/_financial_cris.html
Long Weekend Reading – Canada Day fun facts and great blogs
Before we get to the long weekend reading list, some fun Canada Day facts, to wow your family and friends this weekend… Canada Day was formerly called Dominion Day. On July 1, 1867, in the spirit of the British North America Act, there was a union of the Province of Canada, Nova Scotia and New Brunswick. On the [...]
Source: http://feedproxy.google.com/~r/myownadvisor/CsCc/~3/P-ZohNPyUHI/
OSHA Director: Offshore Cleanup Workers Will Get More Training
Last week, we reported that experts and health officials are concerned that Gulf cleanup workers aren't getting enough safety training. On Thursday, C-SPAN asked the head of the Occupational Safety and Health Administration about our reporting -- and he agreed that "more training is needed" for many spill responders.
We spoke with OSHA's director, David Michaels, after that interview, and he said the agency is working with BP to increase the safety training for workers on vessels at sea.
Michaels said he did not know exactly when the new classes would begin, but said it should be within days: "We've moving as quickly as we can."
The course will increase in length from four to eight hours, and will address new subjects including workers' rights and protection from chemical hazards, Michaels said. Like the current training, it will be taught by contractors hired by BP, with monitoring and advice from OSHA.
The longer classes will be provided to offshore workers in the Vessels of Opportunity program -- which employs local boat operators and crews in cleanup activities -- but not to shoreline responders who are cleaning the beaches. In his appearance on C-SPAN, Michaels said that by the time oil reaches the beaches, it has been weathered long enough that it has "lost all of its volatile chemicals," eliminating the risk of airborne exposure.
"We're aiming for the workers on the Vessels of Opportunity, whose exposure to weathered oil has increased," Michaels told us. He said the additional training is crucial because these workers are now collecting oil-soaked boom at sea in addition to laying fresh boom. (Last week, a health official involved in planning the training told us that the current curriculum doesn't include chemical inhalation, the health effects of dispersants, or the risks of direct contact with weathered oil.)
There are currently 2,630 local boats in the cleanup program, according to the latest data from Unified Command, the interagency spill response team made up of BP, Transocean, the Coast Guard and numerous federal agencies. The Unified Command's website has no information about the total number of people on the boats, and a Unified Command spokeswoman said she did not have that information.
As we noted last week, the Louisiana health department is tracking complaints from cleanup workers who are continuing to report health problems that they believe are related to chemical exposure, including vomiting, dizziness, and nose and throat irritation.
Michaels also dismissed concerns raised in recent reports by McClatchy Newspapers that OSHA's ability to ensure compliance from BP is hampered by limits on his agency's jurisdiction, which extends only three miles offshore. He said that OSHA's participation in the Unified Command allowed it to protect worker safety beyond its usual boundary.
"We are working through the Unified Command system," Michaels said. "Just because there is a line three miles out there, that has no impact."
An OSHA spokesman told us that the agency would provide us with more information -- including the curriculum of the new course -- as soon as it became available. We'll update you when we hear more.
Source: http://feeds.propublica.org/~r/propublica/energy-environment/~3/6xTx3tHGtRs/
Slovenia could need a bail-out, finance minister admits
Slovenia could become the sixth eurozone nation to seek an international rescue, as the country's finance minister admitted on Thursday that a bail-out "can't be ruled out".
Friday, July 6, 2012
Padmasree Warrior of Motorola talks about the next big thing for mobile phones: posting video blogs
People attending the Emerging Technologies Conference at MIT this week have a chance to see Motorola's next-generation phone, the KRZR. The company is also showing off some video-blogging software that's still in development.
Source: http://www.technologyreview.com/blog/VideoPosts.aspx?id=17424
Traces of the Trade
The JOURNAL previews P.O.V.'s TRACES OF THE TRADE
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/E_ifu8WqlpE/watch.html
5 Summertime Tips to Maximize Your Money
Summer is officially here, but even as you enjoy the weather and maybe some time off, you can still save money. Here are 5 summertime tips to maximize your money. Stay Cool Now being on the west coast of Canada I’m not quite feeling the heat yet, but most of the country definitely is. If...
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Source: http://canadianfinanceblog.com/5-summertime-tips-to-maximize-your-money/
Mortgage Meltdown
BILL MOYERS JOURNAL travels to ground zero of the mortgage meltdown-Cleveland, Ohio. Correspondent Rick Karr takes viewers to Slavic Village, one of the hardest hit neighborhoods in the nation when it comes to the spate of foreclosures caused by the subprime mortgage crisis. There, more than 1,000 homes stand vacant and decaying in a neighborhood that once thrived with families living the American dream of home ownership.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/hselDEMJeeI/profile.html
David Corn and Kevin Drum, Part 2
MOTHER JONES journalists David Corn and Kevin Drum offer a hard look at the obstacles to real reform of the financial industry.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/aBKPpkJJSRg/watch2.html
Congress to America: Sorry. Gone Fishin'
Filed under: Investing, Facebook
Did you lose money on last month's Facebook (FB) IPO? How about on Groupon (GRPN)? Zynga (ZNGA)? Perhaps something seemed a little off when you logged on to your brokerage account and either couldn't place an order or couldn't get confirmation that your order was placed?
Congress couldn't care less.
On Wednesday morning, the Senate Banking Committee's subcommittee on Securities, Insurance, and Investment convened in a session entitled "Examining the IPO Process: Is It Working for Ordinary Investors?" But it appears that on Capitol Hill, the word "convened" is defined rather loosely.
Out of 18 senators who were supposed to be at the hearing, exactly one showed up. (Democratic Sen. Jack Reed of Rhode Island -- now and forever after to be dubbed "the loneliest senator in Congress.")
IPO Hearing MIAs
Even in a legislative body famous for its lackadaisical attitude to attendance requirements, this was a pretty poor showing.
Here's who did show up: Ann Sherman, associate professor of finance at DePaul University; Lise Buyer, founder and principal of Class V Group; Joel H. Trotter, partner at Latham & Watkins; and Ilan Moscovitz, senior analyst at The Motley Fool.
They all showed up on time and on message. They were there to educate Congress on why insiders on Wall Street have better access to information about companies going public, how they have a greater ability to buy shares of "hot" IPOs than do ordinary folks, and the deleterious effect this mismatch in information and access has on the stock market.
They outnumbered the senators -- or rather, senator -- listening to them by 4-to-1. Missing in action were:
- Daniel Akaka (D-Hawaii)
- Michael Bennet (D-Colo.)
- Bob Corker (R-Tenn.)
- Mike Crapo (R-Idaho)
- Jim DeMint (R-S.C.)
- Kay Hagan (D-N.C.)
- Tim Johnson (D-S.D.)
- Mark Kirk (R-Ill.)
- Herb Kohl (D-Wis.)
- Robert Menendez (D-N.J.)
- Jeff Merkley (D-Ore.)
- Jerry Moran (R-Kan.)
- Charles Schumer (D-N.Y.)
- Patrick Toomey (R-Pa.)
- David Vitter (R-La.)
- Mark Warner (D-Va.)
- Roger Wicker (R-Miss.)
Rich Smith writes for The Motley Fool. He does not own shares of any company named above. The Motley Fool owns shares of Facebook.
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Source: http://www.dailyfinance.com/2012/06/23/congress-to-america-sorry-gone-fishin/
Thomas Frank
WALL STREET JOURNAL correspondent and author of THE WRECKING CREW: HOW CONSERVATIVES RUINED GOVERNMENT, ENRICHED THEMSELVES, AND BEGGARED THE NATION takes a look back at the decade that was.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/PDHKqXlay6E/profile.html
TR35 winner Sumeet Singh on stopping computer viruses
Sumeet Singh, a technical leader in the applied research and architecture group at Cisco Systems, stopped to chat with us at the Emerging Technologies Conference at MIT last week. He explained a bit more about the inspiration behind and inner workings of his system to automatically protect computer networks against viruses.
Source: http://www.technologyreview.com/blog/VideoPosts.aspx?id=17433
Onion Soup
Reflections on the past and new year -- in satire.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/MlA9rSEOIdU/watch.html
Lynn Sherr on the Century of Women
Lynn Sherr on the century of women.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/SeoDv0mZy_g/watch3.html
Kavita Ramdas
Kavita Ramdas, president and CEO of Global Fund for Women, the largest grant-making foundation focused exclusively on women's rights issues talks about human rights initiatives around the world.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/IG1YUlqNIkw/watch2.html
Thursday, July 5, 2012
Bonjour Murphy!!!
I was beginning to think you had defriended me, it's been so long.
It was so lovely that you stopped by on one of my days home from work :-)
And you brought something with you, as any good guest should. thanks so much for that.
On Monday night, our water heater died. It was 10 years or 12 years old. I honestly don't remember. DH will. He called Tuesday to arrange for a new one and installation. Since today was my home day, he had the plumber come in today. I have to admit, I never 'thought' about the water being off and my needing to go to the bathroom. Mom's is only 4 min away though so I relaxed knowing I could go there if need be. While I am on waving terms or idle chit chat over the lawnmower with my neighbours, I haven't been in their houses and would be extremely uncomfortable asking to use their bathroom.
Since we drained the heater last night (by we, I mean DS2 and DH) it only took the guy about 90 min to remove the old one and install the new one.
The cost? heck if I know...we will get the bill. DH says he will take care of it out of his money so that is good. It reminds me again that we really really need to build a 'chit happens' account/ budget line.
Here's to the simple luxury of having running water WITH heat!!
Au Revoir Murphy!! Don't let the door hit ya on the way out.
It was so lovely that you stopped by on one of my days home from work :-)
And you brought something with you, as any good guest should. thanks so much for that.
Since we drained the heater last night (by we, I mean DS2 and DH) it only took the guy about 90 min to remove the old one and install the new one.
The cost? heck if I know...we will get the bill. DH says he will take care of it out of his money so that is good. It reminds me again that we really really need to build a 'chit happens' account/ budget line.
Here's to the simple luxury of having running water WITH heat!!
Au Revoir Murphy!! Don't let the door hit ya on the way out.
Source: http://shakingthemoneytree.blogspot.com/2012/05/bonjour-murphy.html
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