The Japanese Gogic robot is cute little robot with a very funny walking style. See the video of Gogic below.
The Gogic player DIY robot kit sells for $499.99 on Gizmine.
Elekit's Gogic player DIY robot kit features five servo-motor controls that allow it to walk, and sit.
The assembly time is three hours and the robot is powered by standard batteries 9V x 1, AA x 4. More details on Gizmine.
Source : http://www.i4u.com
Telecom services provider Sprint is hoping to make that possible by offering excess capacity on its cellular network available to gadget makers, according to a report in The Wall Street Journal.
"Sprint understands that we are getting to a point where almost every digital device would want to be connected to a fast ubiquitous network," says Michael Gartenberg, vice president of strategy for Los Angeles based analytics firm Interpret. "Wi-Fi isn't everywhere and consumers want the assurance of ubiquitous connectivity that wide area networks can offer."
Sprint has already taken the first step towards this model through its partnership with Amazon. Amazon kicked off the first version of its e-book reader Kindle with Sprint's wireless connectivity to help users download e-books over the air. In its latest version, Kindle allows users basic web surfing using Sprint's network without paying any additional data access charges.
This kind of unobtrusive wireless capability is something other gadget makers are likely to jump at. Sprint is already in talks with Garmin, SanDisk and Eastman Kodak, says WSJ.
"More and more we are going to see this become attractive to all sorts of vendors, especially if they can integrate it at a low cost," says Gartenberg.Source : http://blog.wired.com
Remember 1993? Snoop Dogg was on the radio. Grunge ruled the world of fashion, and one of the top movies was "Groundhog Day" where Bill Murray had to relive the same day over again until he figured out just what he had to offer the world and finally got it right.
A charismatic young Democrat had just been elected President promising, among other things, to reform a broken health care system. Public opinion seemed to be behind him but the effort ultimately failed and a more careful reading of public opinion in those early months of the Clinton Administration reveal some of the fault lines that eventually sank the effort. Not only did reform fail to make it out of either house of Congress, but in the 1994 election voters ratified the decision and punished Democrats who supported reform rather than the Republicans who had defeated the plan.
Now a new Democrat has taken office promising healthcare reform. The question becomes; has enough changed in public opinion to offer hope that the outcome will be different this time around? A thorough review of the available polling then and now is less than encouraging for supporters of comprehensive health care reform (a category that includes the authors who should be understood to be supporters of comprehensive reform albeit sobering ones.)
Where common questions can be found in polls leading up to health reform 1993 and 2009, the public is currently less attuned to the issue, expresses less dissatisfaction with the status quo, and offers lower levels of support for the general prospect of reform. But an even greater challenge for reformers is the fact that the basic contours of public opinion that undercut the previous effort continue to be true today - perhaps even more so.
Just as in 1993, it would be easy to read current polls as highly encouraging. Many of these measures appear quite strong, it is just that they are not as strong as comparable numbers in surveys taken before the start of the 1993 effort when many pollsters, including those advising the White House were fooled into believing they had a clear mandate for major change.
Now: A 2008 Harris Interactive survey finds 29% saying so much is wrong with the current health care system that it needs to be completely rebuilt, and an additional 53% says that while there are some good aspects the system needs fundamental changes. That adds up to 82% calling for fundamental change. Just 13% say the system works pretty well and only needs minor changes.
Then: The problem is, these results were typical, though a little stronger in the period before the failed effort. As early as 1991, the same pollsters (then Lou Harris and Associates, the word "Interactive" as we know it today had not yet been coined) using the same question recorded 42% saying so much is wrong with the current health care system that it needs to be completely rebuilt, and an additional 50% said that while there are some good aspects the system needs fundamental changes - for a total of 92% calling for fundamental change and just 6% said the system worked well and only needed minor changes.
Now: A 2008 Harvard School of Public Health survey found a 55% majority in support of "national health insurance" with 35% opposed. While this is unlikely to be a phrase that this round of reformers will find useful or descriptive of their proposals, the term that was in common use in 1993 does allow for an apples to apples comparison.
Then: The same researchers using the same phrase in 1993 found 63% supporting "national health insurance" and just 26% were opposed.
Then as now the real problems facing health care reformers were structural and clearly visible in the polls. As the nation reached near consensus that there was a problem, there was never any such agreement on the specific solution. While many people agreed then as they do now that it is wrong that so many Americans are either uninsured or underinsured, the priority then, as now, for most people was on finding ways to lower their own health insurance cost. Then as now most people had health insurance that they judged to be pretty good.
Then: In 1993 a 77% majority told Martilla and Kiley that they were at least somewhat satisfied with their own health care coverage.
Now: For comparison, 82% expressed a similar level of satisfaction with their own insurance in a 2007 Greenberg Quinlan Rosner Poll.
Then: A 1993 Gallup Poll asked people about their priorities for reform and 38% said they wanted health insurance that included all Americans. The bare majority, 51% wanted to control costs, and 10% volunteered that they want reform that did both.
Now: The comparison here is a little less direct, but in 2008 the Harvard School of Public and the Kaiser Family Foundation found similar results with 45% saying they want to make health care insurance more affordable and 22% saying their goal for reform would be to expand insurance to the uninsured.
Then: An NBC News Wall Street Journal Poll in March 1993 found 66% agreeing with the statement "I would be willing to pay higher taxes so that everyone can have health insurance." Just 30% were opposed. A Martilla and Kiley poll found a similar result but in a clear sign of the problems that would emerge, among their 65% willing to pay higher taxes, just 25% said in a follow up question that they would be willing to pay as much as $50 more a month, 40% said they would pay $30. Support for higher taxes only reaches a majority (62%) when the price is as low as $10 per month, a sum that seems quite low to be enough to give coverage to everyone.
Now: In the most recent NBC News Wall Street Journal Poll conducted February 26 to March 1, 2009 the public is currently split with just 49% agreeing with the statement "I would be willing to pay higher taxes so that everyone can have health insurance" and nearly as many 45% do not agree.
Does all of this mean that the Obama plan is doomed before it has even begun? Of course not, but putting the apparently positive numbers from many of today's poll questions in the context of even more positive numbers from polls taken before the previous failed effort should serve to underscore the difficulty of the challenge ahead.
It is clear that the new team will benefit from lessons learned in the earlier health care reform effort. Reflecting a hard won understanding that most Americans are fairly satisfied with their current coverage, the first words out of any Administration spokesperson, including President Obama, on the subject of health care reform is that if you like what you have now you will be able to keep it. Also reflecting the priorities expressed in public opinion polls today (and back then), far greater emphasis is now being placed on cost containment than on extending coverage.
The real question will of course come in the details of the proposal. If Obama can come up with a plan that extends coverage to more Americans without a major increase in the burdens it places on the individuals and businesses who pay for it, then it will be difficult for those who want to see this effort fail to generate much public opposition. Naturally this is a tall order, but we would not want to be among the legions of commentators who have had to swallow their doubts that Barack Obama can achieve the difficult.
The only thing we will predict is that there will be a lot of articles written looking at statistics like some of the ones mentioned here (in fact they are likely to grow stronger as the heat is turned up on the issue) to make the case that this time around the public strongly supports reform. We hope this little bit of context will help keep these articles in perspective.
The authors wish to thank Julia Kurnik for research assistance and Robert Blendon of the Harvard School of Public Health for invaluable assistance. Would anyone try to write this article without first calling Bob Blendon?
Source : http://www.huffingtonpost.com
U.S. banks posted net losses of $32.1 billion in the last quarter of 2008, according to revised figures released late last week by the Federal Deposit Insurance Corp.
Previously, the FDIC reported that the nation’s financial institutions had posted losses of $26.2 billion in the fourth quarter.
The FDIC said the new figures reflect “significant amendments” the agency received shortly after its original estimates were released last month. Banks’ revised figures show vastly higher non-cash impairment charges in the fourth quarter, the FDIC said, which impacted the financial sector’s net income and equity capital figures.
Net income for all of 2008 was revised down from $16.1 billion to $10.2 billion.
The decline in the banking industry’s equity capital for the final quarter of 2008 is now reported at $10.1 billion, up from $3.7 billion.
Banks made $575 million in fourth quarter 2007.
Source : http://www.bizjournals.com
BOSTON, March 23, 2009 /PRNewswire-FirstCall via COMTEX/ ----John Hancock led the industry in total individual life insurance sales in 2008, according to a recent survey of 78 major life insurers by LIMRA International (LIMRA).
According to LIMRA, John Hancock Life Insurance had sales in 2008 of $835 million in premium*. The company also increased its industry-leading market share to more than seven percent and led the industry in average face amount of approximately $1.3 million.
"We are extremely pleased to lead the industry in life insurance sales, especially in light of the challenging economic backdrop in 2008. Our sales results again demonstrated strength across our entire product portfolio," said Steve Finch, President, John Hancock Life Insurance. "We strive to be an industry leader in product innovation, continually enhancing our portfolio to meet our clients' needs."
John Hancock finished first in the industry in variable life (including variable universal life) sales, with sales of approximately $237 million*, according to LIMRA.
"We have placed strong emphasis on variable universal life over the past few years. We believe that for clients with long term horizons our variable universal products are well designed to meet their needs. They remain an attractive and appropriate product," Mr. Finch said.
John Hancock finished second in the industry in universal life sales with sales of nearly $496 million*, and the company maintained its market share of nearly 10 percent, according to LIMRA.
Term and whole life sales again produced strong results, with sales of $84 million and $17 million respectively.
"We remain committed to further strengthening our product portfolio, our service capabilities and our underwriting expertise to provide even greater value for our clients and producers," Mr. Finch said. "We know that our customers and their advisors have many options for meeting their financial objectives and we appreciate that they have chosen to place their trust and confidence in John Hancock."
*Annualized premium plus 10% of excess premium for US individual life insurance as reported to LIMRA
About John Hancock Financial and Manulife Financial Corporation
John Hancock Financial is a unit of Manulife Financial Corporation (the Company), a leading Canadian-based financial services group serving millions of customers in 19 countries and territories worldwide. Operating as Manulife Financial in Canada and in most of Asia, and primarily as John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were Cdn$405 billion (US$330 billion) as at December 31, 2008.
Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '0945' on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com.
The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers a broad range of financial products and services, including life insurance, fixed and variable annuities, fixed products, mutual funds, 401(k) plans, long-term care insurance, college savings, and other forms of business insurance. Additional information about John Hancock may be found at www.johnhancock.com.
Survey Source: LIMRA International, U.S. Individual Life Insurance Sales Survey, Fourth Quarter YTD 2008 results. Sales based on annualized new premium.
A study for the Robert Wood Johnson Foundation found that nationwide nearly one in five workers is uninsured, a statistically significant increase from fewer than one in seven during the mid-1990s.
In Illinois, the study found that 16 percent of workers between ages 19 to 64 were uninsured in 2007, the latest year such figures are available. In 1995, 11.6 percent of workers in Illinois were uninsured.
The study found that the problem is cost. Total premiums for employer plans have risen six to eight times faster than wages, depending on whether individual or family coverage is picked.
About 20.7 million workers were uninsured in the mid-1990s. A decade later, it was 26.9 million, an increase of about six million.
Source : http://www.examiner.com
Dell's Adamo ultraportable is finally here.
Ever since Apple first introduced its MacBook Air, consumers have been lusting after ultra-thin, ultra-light laptops that still pack a solid performance punch. While many manufacturers have come to challenge the Air, from Lenovo's X300 series to Voodoo's Envy 133, Apple's offering has maintained its dominance. As of today, that dominance will be challenged yet again.
Dell's Adamo will go on sale later today, with an expected shipping date of March 26. The Adamo (Adamo means "to fall in love with" in Latin) carries many of the high end features one would expect with an ultraportable of this caliber. The 13.4-inch, 720p display is made from "edge-to-edge" mineral glass, and the entire laptop chassis is machined from one piece of aluminum. For storage, SSD is the only option, with 128 GB being standard.While good looks and speedy storage are all well and good, the rest of the insides are a bit of a letdown. For $1,999, the Adamo carries a 1.2 GHz Core 2 Duo U9300 processor with 2 GB of DDR3 memory. If you're willing to p[ay an additional $700, you'll get a processor bump up to 1.6 GHz, 4 GB of RAM, and a built-in 3G wireless card. Unfortunately, both models come with Intel's X4500, which leaves something to be desired on the graphics front. Sure, no one was expecting a GTX 260M, but there are several viable alternatives to the X4500. As for other amenities, the Adamo comes with a DisplayPort, with cables to connect to DVI, HDMI and VGA. North America buyers can also expect an exclusive Adamo Premium Service and the upper echelons of Dell's technical support.
In comparison, the $1,799 MacBook Air ships with a 1.6 GHz Core 2 Duo as well as Nvidia's highly regarded 9400M graphics, giving it a solid advantage in both general processing and graphics muscle at a lower price point.
"Great design needs to be timeless and evoke emotion in people", said Alex Gruzen, Senior VP of Dell's consumer products division. "While a premium computing experience was assumed for Adamo, the intent was for people to see, touch and explore Adamo and be rewarded by the select materials and craftsmanship you would expect in a fine watch." Judging from the sentiments of Gruzer and the Adamo's insides, Dell undoubtedly put style before performance with this ultraportable.
One area where the Adamo beats the MacBook Air is thickness. While the Air has a maximum thickness of .75-inches, the Adamo maxes out at .65-inches. However, it should be noted that the Air comes up to .75-inches from .16-inches, whereas the Adamo is .65-inches throughout its body. The Adamo also comes in about one pound heavier than its veteran rival.
While the Adamo is certainly a force to be reckoned with in the ultraportable market, it's lackluster hardware may be an Achilles heel.
Source : http://www.tomshardware.com
If you’re thinking this sounds a lot like the AutoText feature in Microsoft Word, or many other word processors, you’re on the right track. The difference is that TypeIt4Me is a system-wide application that will work with almost any open application. You can use TypeIt4Me in your email application, word processor, web editor, or just about any application that works with text.
The text that replaces an abbreviation can be as simple as your name and address, or as complex as a rich text document that contains formatting and images. TypeIt4Me works with variables such as date and time, and can insert the current contents of your clipboard. You can control the position of the cursor, defining its location after TypeIt4Me expands an abbreviation; trigger AppleScripts; or nest other TypeIt4Me clippings within the current expanded abbreviation.
TypeIt4Me is available for $27. A 30-day demo is available.
Source : http://macs.about.com
Saul Hansell/The New York Times
Look at the picture above. It’s an original Steve Ballmer created before my eyes on the wall of a conference room here at The Times.
Simple, isn’t it?
Well, that’s the point that Mr. Ballmer, the chief executive of Microsoft, was trying to make when he drew it. I was talking to him about Microsoft’s plans to offer companies cloud computing services — software that will run on Microsoft’s new network of big data centers. As I learned about the Azure system, Microsoft’s new cloud operating system, I started to wonder if it is overly complex. I asked if Microsoft was risking taking on too much, as it did with Longhorn, the operating system rewrite that led to the ill-fated Windows Vista.
“It’s not anything like Longhorn,” Mr. Ballmer said. “And it’s not really that complicated.”
“This is what we look like in the data center,” he said.
He was referring to all of the software Microsoft currently sells to run on corporate servers and the tools to develop them. That currently is a $13 billion-a-year business for Microsoft (22 percent of its total revenue) and its fastest growing segment. All of those products, Mr. Ballmer said, are being rewritten so customers can run them on Microsoft’s computers in addition to their own.
“Anything that has been a server needs to be a service,” he said.
So in the center box he wrote “Windows Server”—the company’s core product for data centers.
“Windows Server becomes Windows Azure,” he said.
That is going to be a service that will let companies build applications to be run from Microsoft’s data centers.
The next block up represented SQL Server — Microsoft’s database product.
“I’ll bet by the time we’re done, if I win, this will be called SQL Azure,” he said, implying a bit of a branding debate. Nearby were boxes for Microsoft’s other server products — Exchange for e-mail, SharePoint for collaboration, etc.
The trapezoid at the very top of Mr. Ballmer’s picture represented Office and other PC software products that it sells to big companies, much of it meant to interact with the server software, like Exchange.
As he has before, Mr. Ballmer insisted that these PC programs are not all going to be replaced with Web sites, like Google Docs or Gmail.
“Everyone says ‘You have to run in a browser.’ That’s nonsense,” he said. “When you run in the browser, you are not running HTML, you are just downloading code to the browser instead of downloading code to the PC.”
What is important, Mr. Ballmer argued, is giving Microsoft software the ability to use the Internet as needed. For example, corporations will be able to start their own social networks to enable employees to work together better. You’ll use this network from within Office.
He also suggested that the move will increase Microsoft’s earnings from corporate services. That’s because it will be able to charge both for the software itself and Microsoft’s service to operate that software on its own machines.
The company’s costs will rise and its profit margins will fall as it builds out its data centers. Software, after all, has remarkable margins because it doesn’t really cost anything to deliver an additional office license to a corporate client. But Mr. Ballmer said that Microsoft will still come away with more dollars in profit for every worker using its cloud-based services than it does from software.
“Shareholders don’t get fed by percentages,” he said.
So far, little of this is actually making money for Microsoft. It started selling the early version of cloud-based Exchange and SharePoint services last year. And it is testing its new systems with big companies including Coca-Cola Enterprises and Nokia. But Mr. Ballmer said he didn’t think Microsoft was behind its potential rivals.
“This is all so early,” he said. “It’s early for Amazon. VMware is just barely there. We’re barely there. Google isn’t there yet.”
Most of these companies don’t have much experience selling to big companies, he said.
“It took us 10 years to establish our enterprise capability and this company, Google, hasn’t really begun to focus,” Mr. Ballmer said. “We understand what the enterprise needs: security, compliance, archiving.”
That’s why I keep wondering about the scope of what Mr. Ballmer is trying to do. Azure and the related products are meant from the start to have all the features that a multinational company might need to run sophisticated applications. His picture may well look simple to chief information officers who see in it a mirror of the software they already buy from Microsoft.
I said one more time to Mr. Ballmer that his approach seemed much riskier than that used by Google and Amazon, which can start by offering simple services and then can build them up over time.
Mr. Ballmer replied he was quite confident that Microsoft’s “story is right.”
He added, “We are taking the complexity out, not the capabilities.”
Source : http://bits.blogs.nytimes.com
Cisco watchers are largely unimpressed with the deal. In short, analysts and writers who cover Cisco consider the Flip's market of 2 million units too small for Cisco to bother with, and Pure Digital's selling price of $590 million too small a return for investors Benchmark Capital and Sequoia Capital.
Gartner analyst Nick Jones:
This leaves me totally puzzled. $590 million is loose change for Cisco. But why spend even loose change on a brand no-one has heard of outside the US and which has sold about 2 million units in its entire history. Last year the mobile industry shipped well over 800 million handsets with cameras, the latest models like the Samsung Omnia can already shoot HD video which is on the cusp of mainstream mobile adoption. The chips and camera modules on mid to high-end devices will all head to HD over the next couple of years. So products like Flip are going to be buried under an avalanche of HD enabled handsets. I can understand Flip wanting to sell out before the tsunami arrives but why would Cisco buy?
Network World columnist Brad Reese:
A spectacularly successful cash out for Pure Digital's venture capital investor - Michael Moritz of Sequoia Capital (keep in mind that Moritz and Sequoia were also the original venture capital backers of Cisco), [but] not be a wise acquisition for Cisco.
First, how do Cisco's valuable channel partners benefit with Cisco capital and management attention focused on products sold in mass retail outlets for between $130 and $230, and whose success has spawned a large group of copycat competitors?
Second, Cisco's expertise is in developing and supporting complex technology. I fear Cisco risks being "dumbed down" ... for example, a recent report shows Cisco gaining market share in [small to medium business] routers but losing ground in the high-end router segment to Juniper Networks.
PEHub blogger Lawrence Aragon, who writes about private equity:
It sounds like a pretty good deal, but you have to understand that the VCs put $95 million into Pure, which makes the Flip digital video camera. Assuming they own half of the company, that’s a return of just over 3x their money. For a middle-of-the road VC firm, that would be a decent return, but for big name backers Benchmark Capital and Sequoia Captial that’s pretty much a dud.
Did Pure Digital's investors push for a relatively cheap acquistion before the Flip loses its market share? Does Cisco have plans for the Flip, or for Pure Digital, that aren't obvious from outside the company? Cisco's press release suggests Cisco, an enterprise IT colossus, is trying to become a household brand as well:
"The acquisition of Pure Digital is key to Cisco's strategy to expand our momentum in the media-enabled home and to capture the consumer market transition to visual networking."
The consumer market transition to visual networking? Sounds like Cisco is looking to sell cameras to the makers of YouTube home videos. Good luck competing with Apple and Logitech.
Source : http://www.thestandard.com
It is beautiful, an engineering marvel. It is fanless, silent and slim. For anyone who's ever hated carrying a briefcase—or wanted a computer that goes well with Gaultier—the Vaio P is the ne plus ultra of ultraportable computers.
For the rest, it's a $900 laptop that can barely keep up with netbooks half its price.
Sadly hobbled by Windows Vista's bloat, only those with undemanding performance requirements will enjoy it straight out of the box. Install XP or Windows 7, however, and its promise becomes more apparent.
About as small as a laptop can be while retaining a decent keyboard, the P is 9.7" x 4.7" x 0.8" and weighs just 1.4 pounds. It has a high-definition 8" LED-backlit display, 2GB of RAM, 3G internet, WiFi and GPS. The base model has a 60GB hard drive, with optional SSD upgrades. That keyboard is nearly full-size, and in the chiclet style long used by Sony and Apple, recently adopted by cheaper brands.
It has a GoBi radio, which means in principle that it can get 3G data from both Evdo and HSDPA networks. In the U.S., however, it is exclusive to Verizon. U.S. units also lack the faster processors available in Europe and Japan (you can buy imports from Dynamism) but gain integrated GPS, a feature not found abroad.
It's a nice package, for sure, but it uses a slower version of Intel's Atom chip, the Z520, which leaves it huffing and puffing to keep up with cheaper alternatives like the HP Mini.
Battery life is also poor: you'll get a little over 2 hours on balanced settings. The long-life battery doubles that, but makes the P about a third of an inch thicker. Small type on the 200dpi display can be hard on the eyes. The track-nub is surprisingly good — there was simply no space for a trackpad — but some people find it irritating and difficult to use.
More disappointing was poor video and gaming performance, even accounting for the low specifications. This is almost certainly a software issue: Intel and Sony need to step up and provide better drivers for the P's GMA 500 video chip. While it looks gorgeous, the plastic finish is fingerprint-friendly and it doesn't feel very durable.
It's hard to talk about the Vaio P without talking about its ads. After announcing it at CES to the technology tribes, Sony turned its marketing attention to professional women, deploying a bizarre campaign centered around robot fashion mannequins who wandered Manhattan making geolocated Facebook updates.
At a party at the company's Madison Avenue flagship store, I got to observe the mannequins do their thing--stand very still, looking pretty, holding Vaio Ps out for the fashion press to nervously inspect.
It's art, and I kind of liked it, but it makes one wonder just how much it would have cost Sony to make sure OpenGL worked better.
Whoever Sony wants to sell it to, here's who I think will like it: portability junkies who find netbooks too cumbersome, but who still want a usable keyboard. If the idea of that appeals to you — and you're prepared to pay for it — go for it. If you're even slightly ambivalent, however, wait until Windows 7 is out so you can avoid the hours of tinkering that the Vaio P demands to get the most from it.
Source : http://gadgets.boingboing.net
I has a 160GB hard drive, a webcam, gigabit ethernet and WiFi, and is sold with Windows XP. There are 5 USB ports and a memory card reader.
How, then, does it differ? Where the Eee is round, the X50 is square. And it has a handle.
Shuttle x50 [Slashgear]
Source : http://gadgets.boingboing.net/
Unlike Microsoft's silly but sort of understandable proscription against mice on home consoles, Sony doesn't mind letting gamers use a mouse on their lap. Swiss peripherals maker SplitFish has released a new model of their FragFX mouse, the V2, with offers "significant improvements", but is presented here primarily because it looks odd. It is eighty of your dollars.
Source : http://gadgets.boingboing.net/
When learning to write you put the pen between your thumb and finger. With a traditional mouse the ball is right in the middle of the mouse as that’s the only place it would fit. Since optical mice have been around they have also had their optical sensors right in the middle of the mouse. However, Elecom have made the M-SN1UL with a sensor out side of the mouse where if you were holding a pen, the tip would be. By doing this it means that your mouse gets the precision of holding a pen while moving it around. The optical sensor on the M-SN1UL is 1600dpi.
Will it actually work as described? or will it just seem the same as any other mouse? I expect the latter but if anyone has used one or will do in the future then let us know if it’s worth buying.
“We will have a whole host of activities within the Gaming Zone, but the focal point will very much be this tournament,” said Adam Godfrey, Business Development for Heaven Media. “It is a great opportunity for over 30,000 visitors at the event to see the best gamers in Europe battling it out.
“This tournament gives casual gamers a chance to meet some of the top eSports personalities in person, these are teams that compete in large money tournaments all over the world,” confirmed Heaven Media’s Corin Cole. “We will also be providing extensive coverage both within the zone and via our portfolio of sites”.
The focal hub for coverage will be leading eSports coverage site Cadred.org who will be in attendance to provide live scores, features, media, and access to watch games, both live and on-demand.
Heaven Media have also confirmed the attendance of eSports broadcasting company QuadV, in the form of Paul Chaloner, Stuart Saw, and Jason Atkins, who bring with them many years of experience in broadcasting, both online and to television networks around the world.
Leading Members of Congress and certain officials in the Obama Administration are reportedly considering changes to the federal tax treatment of health insurance as a means of financing health reform.
If there is one area in health policy where there is a powerful consensus among serious analysts, conservative and liberal alike, it is the need to change the existing tax treatment of health insurance. President Ronald Reagan first proposed a change to the tax law governing health insurance in 1983, but Congress never acted on the proposal. Six years later, analysts at The Heritage Foundation unveiled a national health reform proposal grounded in comprehensive tax reform. Now, the idea could—depending on its details—potentially serve as the basis of a bipartisan compromise on health reform in the coming months.
The Current Tax Treatment
The current tax treatment of health insurance is a byproduct of wage and price controls imposed by the Roosevelt Administration during the World War II era. The federal tax code currently excludes, without limit, the value of employer-sponsored health insurance from an individual's income for the purposes of both income and payroll taxes. This tax exclusion for employer-sponsored insurance is a huge, but hidden, tax subsidy. The Joint Committee on Taxation estimated that value of the tax exclusion in 2007 was $246.1 billion in foregone income and payroll taxes. The exclusion represents the largest federal tax expenditure as well as the third largest health care expenditure, following only Medicare and Medicaid, the nation's two largest entitlement programs.
It is unfair because only individuals with employer-sponsored insurance are able to receive tax relief, while individuals without access to such coverage typically pay for health insurance with after-tax dollars and, in effect, face a sizeable tax penalty. It is inefficient and inequitable because the largest tax benefits go to those who need them least; given the progressive structure of the tax code, the exclusion is regressive since it is worth less to taxpayers in lower marginal tax rates and more to those in higher marginal tax rates. Therefore, if the goal is to extend coverage to the uninsured, the tax break is poorly targeted because it provides little or no tax relief to those with low incomes, who are least able to afford health insurance.
The tax treatment of health insurance also has the perverse effect of increasing health care spending and driving up costs by essentially lowering the effective price of employer-sponsored health insurance. The exclusion does encourage individuals to obtain insurance. But it also encourages many individuals to have more generous insurance than they typically need, because the higher the cost of the insurance and the higher the person's income, the bigger the tax benefit for the individual. The exclusion creates a bias toward overly generous insurance—even first-dollar coverage—with low cost-sharing in the form of co-payments, coinsurance, and deductibles because out-of-pocket expenditures, for the most part, do not enjoy a similar tax preference. This incentive reduces the price sensitivity of health care consumers and leads to higher prices and greater utilization, which in turn puts a strain on resources and makes health care more expensive for those who lack insurance.
The Right Way to Change the Tax Treatment
The best way to change the current tax treatment would be to replace the existing tax exclusion with a more equitable and efficient system of individual tax relief, leveling the playing field for robust competition among insurers and creating a level of consumer choice that is routine in every other sector of the American economy.
Short of that, Congress could limit or cap the exclusion, perhaps only for income tax purposes, while simultaneously using the new revenue to provide health care tax credits for taxpaying households. The government could also provide vouchers—which, for lower-income households, could be combined with the credit—so that more individuals and families can afford health insurance.
Under this scenario, any revenue generated from the value of premiums that either exceeds the cap or is no longer excluded from taxable income should be used exclusively to finance tax credits to individuals and families to offset their federal taxes. The existing tax exclusion on health benefits should be gradually phased out over time while the new system of health care tax credits for individuals and families is phased in. The health care tax credits should apply to a significant portion of a health plan's premium—but not all of it (consumers should have some "skin in the game")—and be used to offset some of a taxpayer's income tax liability.
Americans with no tax liability, or tax liability that is currently less than the value of the credit, should receive vouchers to purchase their own insurance. The voucher component would be somewhat like a traditional refundable tax credit (such as the earned income tax credit), although with a key difference: These health care vouchers should be paid for entirely by reductions in other government spending in the budget—and there are plenty of options available to finance such direct assistance to low-income persons. But assistance to families currently not paying taxes should not be funded by the revenue raised from changes in the tax treatment of health insurance for taxpaying Americans.
Essential to Bipartisan Reform
Changing the tax treatment of employer-sponsored health insurance has for years enjoyed support from across the political spectrum. Although President Obama has not yet included tax treatment reforms in his health care plan, it is not too late. Senate Finance Chairman Max Baucus (D–MT) has proposed limiting the current tax exclusion, which suggests there is still some room for a compromise on this front. If President Obama and leaders in Congress are sincere about passing—and fully financing—comprehensive health care reform legislation with broad bipartisan support, changes to the tax treatment are essential.
There are several ways to design a new system of health care financing that is more efficient and more equitable than what Americans have today. The right way is to restructure the tax code to promote competition among health plans and give Americans real personal choice of health care options. A proposal that gradually phases out the current income tax exclusion while phasing in a more equitable and efficient tax treatment will achieve serious bipartisan health care reform.
Source : http://www.heritage.org
Universal File System Driver Creates Two-Way Communication Channel Between Mac OS X and Windows, Includes New MacBrowser for Dual-Boot Capabilities
IRVINE, CA - Paragon Software Group (PSG), the technology leader in innovative data security and data management solutions, today announced the release of NTFS for Mac OS X 7.0. A complete solution designed to eliminate the barrier between Windows and Mac, NTFS for Mac provides Mac OS X users with full read and write access to Microsoft NTFS partitions. This allows users to modify existing files, delete, create, and copy new files from Mac to Windows, without the need for expensive translation software or servers.
Paragon's NTFS for Mac OS X 7.0 is based on Paragon's own unique technology -- the Universal File System Driver (UFSD). UFSD was specially developed to provide full access (read/write, format, etc.) to volumes of the most popular file systems (NTFS, FAT, Ext2/3FS, etc.) under various platforms (DOS, Windows, Linux, and Mac) when these file systems are not supported. The product is simple to install on a Mac system through user-friendly wizards, with no additional configuration required after installation. It is also simple to use, as every attached Windows NTFS partition works like a native Mac HFS partition after installation. By mounting any NTFS partition like a native Mac partition, the need to perform special commands to obtain access is eliminated. NTFS for Mac OS X 7.0 provides improved write performance enabling the same transfer rate for NTFS volumes as the native Mac OS file system.
Paragon's new MacBrowser is a unique tool that allows fast, easy and transparent read/write access to Mac HFS partitions from within Windows. After the user has installed the software on a Windows operating system, a special unmapped folder under 'My Computer' can be used to browse content, read and modify files, copy, create, open, and delete files and folders on Mac partitions from Windows. To modify a file from a Mac volume, the user would copy it to a Windows partition, make the desired changes and copy it back to Mac after the modifications are completed.
Source : http://www.msnbc.msn.com
Recently, Thermaltake contracted BMW DesignWorksUSA, a wholly-owned subsidiary of the German automaker, to help create a new concept in high-end computing, and the result is wholly different from what's common to the market today. Instead of centering around one large box that all the computer components would sit inside, BMW's Level 10 concept uses a set of smaller containers that would house each individual piece.
VIRTUAL REALITY: COMPUTER WORLDS INSPIRE DESIGN CONCEPT CREATED BY BMW GROUP DESIGNWORKSUSA FOR THE LATEST HIGH-END THERMALTAKE GAMING TOWER SHOW PIECE
The gaming industry - a sector that can deservedly adorn itself with attributes such as visionary creativity, innovation and progressiveness. However, who inspires the gaming industry and how does one set trends in a sector that is in itself the embodiment of progressive thinking and imaginativeness? One answer to that question is currently being given by BMW Group DesignworksUSA, with the presentation of a design concept for a high-end gaming tower prototype that was inspired by the gaming world itself.
BMW Group DesignworksUSA, a 100% subsidiary of the BMW Group, has for many years shaped the global design landscape working for a multitude of industries. In addition to creating yachts, trains, aircraft, lifestyle and IT products, the three studios in Munich, California and Singapore are also engaged with design concepts aimed at transforming visions into reality. One of these concepts is named "Level 10" for Thermaltake, a manufacturer of computer housings and components for individually configurable high-end computers.
Design concept from another world.
The "Level 10" concept allows gamers to experience the power of their high-end computers through the design itself. In order to achieve this, iconic design is combined with optimum functionality and innovative details. By rendering the inside components visible, the design concept focuses on the architectural aesthetics which are inherent in the computers and result from each individually configurable component. The inspiration for this approach the design team took right from the computer worlds themselves – expressiveness, virtual townscapes and futuristic game components served as orientation for the arrangement and the look of individual components. These appear within the overall design in the form of an open modular structure that visually appeals to users, offering them additional functional benefits. Each high-quality component featured by the "Level 10" concept is enclosed within its own protective case, rendering it not only an integral part of the design but also guaranteeing interchangeability and transportability. Thus the design concept makes considerable allowances for the behaviour of users who wish to use their equipment in many different places and are eager to get it there safely. The concept also has an aesthetical answer to the physical necessity for best possible cooling, this also being associated with the virtual world of the gamer. The asymmetric arrangement of the robust vertical heatsink and the horizontally located individual components creates a strong architectural statement, clearly revealing the powerful cooling characteristics of the Thermaltake Gaming Tower.
Decisive game factor: Cleverly designed details.
Whilst the design concept initially appeals visually to gamers, clever detail solutions do justice to their high demands on the applications. A smart lock system facilitates the blocking of access in order to protect the valuable modules. A USB memory key was designed as an extractable "power button" that not only activates the system, but also secures personal system data, rendering it suitable for flexible use. Two ergonomically well-positioned, integrated handles allow safe and convenient transportation of the tower, a highly relevant feature in the high-end gaming tower sector. The design is rounded off by a cleverly devised cable conduit system and light features which communicate a multitude of tower functions such as temperature and memory volumes. Since the computer worlds themselves supply the context for the conceptual idea, an authentic design has been created that significantly emphasises the functionality of the Thermaltake housing and no longer needs to be concealed inside the chassis. The prototype of the "Level 10" tower can be seen from the 3rd to 8th of March at the CEBIT in Hannover. (Thermaltake stand hall 24 / C02).
BMW Group DesignworksUSA- Perfect design beyond the spotlights.
BMW Group DesignworksUSA is a global design consultancy and subsidiary of the BMW Group. The company, which was acquired by the BMW Group in 1995, now operates globally from its locations in Europe, America and Asia. Clients turn to DesignworksUSA for brand communications, strategy, research, design development, engineering, modeling, and color, materials, and finish. Unique to DesignworksUSA, they have both an automotive and industrial design studio, enabling the transfer of collective knowledge and inspiration from automotive design to product design and vice versa. The studio represents a guiding force for the BMW Group brand design studios (BMW, MINI and Rolls-Royce Motor Cars) and simultaneously operates as an innovation driver for the most diverse industries from IT to medical, lifestyle or aviation. Since 2004, Verena C. Kloos has overseen the strategy and operations for the Munich, Los Angeles and Singapore design studios. The designs consistently express the individual identity of a brand, so each product devised by BMW Group DesignworksUSA gains its specific uniqueness. Thanks to this approach the design studio stands out significantly from its competitors, convincing big brand names – from Microsoft and HP, Starbucks, Embraer, Advanced Medical Optics and Bavaria Yachts to Boeing Business Jets.
Design studio: BMW Group DesignworksUSA, Munich Studio
Client: Thermaltake, Taipeh, Taiwan
Project name: Design concept "Level 10"
Source : http://www.autoblog.com
The Globe tested four monitors, including a tiny 7-inch USB monitor and three wide-screen monitors.
We tested the 25.5-inch Asus VW266H for $399, the 25.5-inch Hewlett-Packard w2558hc for $549.99, and we were given an exclusive first look at one of Dell's new "green monitors," the 24-inch G2410 G-Series at $349. We also tested the Mimo UM-710 7-inch USB monitor, which costs $129.99.
We found that all four monitors had strengths. The Asus is big, uncomplicated, and inexpensive. The HP has lots of plugs, ports, and goodies like digital camera card readers and a webcam. Dell claims its offering uses less energy than competitors and is made from recycled materials - bonuses for people conscious about their carbon footprint.
The Mimo monitor, while small, was a fun solution for people who want to use a second monitor. It plugs into any available USB port, so it will work on nearly any modern computer. Its size also allows you to have two monitors without two big monitors taking up your whole desk.
Andy Trask, the co-owner of Geek Housecalls Inc. of Burlington, selected the HP as the best overall monitor because of the glossy finish to the display and HP's positive reputation.
"In my experience with HP monitors, they tend to be of a higher quality," Trask said.
We liked the HP monitor a lot, but were most enamored with the Asus monitor. While it didn't have all the bells, whistles, and ports of the HP monitor, we were impressed with its quality and even more so with its price.
Both the HP and Asus monitors had traditional VGA and DVI (digital visual interface) ports for your computer, but they also had HDMI ports (one on the Asus and two on the HP), which let you plug in your Blu-ray player, HDTV cable box, or video game system to the monitor instead of using a television.
"A lot of people are looking for a way to put together as much technology as they can without having to repeat steps," Trask said. "As a simple solution, this really makes it easy to put the computer and the TV together in the same box with high quality and high resolution."
As far as shopping tips, Trask says to look for the biggest monitor you can find for your budget. He also recommends going to your local electronics store to view the monitors in person, just as you would with a TV - instead of just checking them out online.
Pros: The VW266H is a big monitor that's affordable and looks great.
Cons: The stand is a little flimsy. It also doesn't have any USB ports, speakers, or other extras.
The final word: If you don't need any bells and whistles - and just need, you know, a computer monitor - you will love the Asus monitor.
Pros: The monitor has vivid color and tons of extras like two HDMI ports, USB ports, a remote control, flash card readers, and more.
Cons: The price is a worry. And do you really need all that extra stuff?
The final word: The HP model is a friendly choice for home users but a bit impractical for businesses.
Pros: This might be the "greenest" computer monitor. It's made from recycled materials and uses less energy than most others.
Cons: You can only plug one HD device into it. It doesn't have an HDMI port, which is becoming the standard for things like Blu-ray players and HDTV. It's not a huge deal, because you can buy a DVI-to-HDMI wire that will let you plug any HDMI device into the monitor's DVI plug. This lets you use the monitor as a television or DVD/Blu-ray display.
The final word: You can almost never go wrong with a Dell monitor. They're built well, look good, and are usually reasonably priced.
Pros: The Mimo is a functional, useful, spare monitor that works on any modern computer and lets you watch movies or keep track of tasks without a large, clunky second monitor taking up all your desk space.
Cons: None that we could find.
The final word: At 7 inches, this Mimo miniature is a great second monitor. It's certainly not as useful as a full-size monitor, though.
Source : http://www.boston.com
Computer-virus infections don't cause your machine to crash anymore.
Nowadays, the criminals behind the infections usually want your computer operating in top form so you don't know something's wrong. That way, they can log your keystrokes and steal any passwords or credit-card numbers you enter at Web sites, or they can link your infected computer with others to send out spam.
Here are some signs your computer is infected, tapped to serve as part of "botnet" armies run by criminals:
_ You experience new, prolonged slowdowns. This can be a sign that a malicious program is running in the background.
_ You continually get pop-up ads that you can't make go away. This is a sure sign you have "adware," and possibly more, on your machine.
_ You're being directed to sites you didn't intend to visit, or your search results are coming back funky. This is another sign that hackers have gotten to your machine.
So what do you do?
_ Having anti-virus software here is hugely helpful. For one, it can identify known malicious programs and disable them. If the virus that has infected your machine isn't detected, many anti-virus vendors offer a service in which they can remotely take over your computer and delete the malware for a fee.
_ Some anti-virus vendors also offer free, online virus-scanning services.
_ You may have to reinstall your operating system if your computer is still experiencing problems. It's a good idea even if you believe you've cleaned up the mess because malware can still be hidden on your machine. You will need to back up your files before you do this.
How do I know what information has been taken?
_ It's very hard to tell what's been taken. Not every infection steals your data. Some just serve unwanted ads. Others poison your search result or steer you to Web sites you don't want to see. Others log your every keystroke. The anti-virus vendors have extensive databases about what the known infections do and don't do. Comparing the results from your virus scans to those entries will give you a good idea about what criminals may have snatched up.
Source : http://www.google.com
A University of Otago business student is celebrating the end of a year in which the banks provided him with $500 of free money.
The student, who prefers to remain anonymous, employed a system known as "stoozing", which works in a similar way to the international "carry trade" - where money is borrowed at a low rate in one country and invested at a high rate in another.
The student realised banks trying to attract students as customers had created a similar, legal, opportunity for free money within New Zealand.
"Stoozing" is a slang term to describe an activity where money is borrowed at 0% interest and invested elsewhere. Eventually, the borrowed money is repaid but the interest it has earned remains with the "stoozer".
Most major banks offer low-cost overdrafts for students in the hope of encouraging them to become regular customers.
At the beginning of last year, the student visited four banks and set up bank accounts with 0% overdrafts. He then withdrew all the money - amounting to $6000 - and invested it for one year in a safe term deposit at a rate of 9.25%.
The idea came to him while he was taking advantage of a bank promotion offering students $40 to open an account - "an easy way to make some fast beer money".
While he was filling out forms for an account with a $2000 overdraft, he noted the "very small" bank charges if the account was in overdraft - $2 a month.
"It was virtually the same as giving me $2000 for free for 20 months."
The student then opened similar accounts at other banks.
Because two of the banks required the account to show activity during the year, he also set up automatic transfers.
He asked the bank where he held his usual bank account to make an automatic $150 payment each Tuesday to one of the overdraft accounts.
"I then went to the bank where the $150 would be going and asked them to transfer that same amount of money to the overdraft account at another bank.
"I then went to the third bank and got them to transfer the money back to my spending account (where it had been on Tuesday) and the $150 showed up in my account on Friday. This happened every week for a year."
Bank staff did not realise what he was doing and the scheme had not been hard to co-ordinate.
"It only took a couple of minutes talking to the tellers, telling them what I wanted, and checking to make sure they had got it right."
He chose to invest the overdraft money at Kiwibank because it was one of the few banks where he did not have an account.
"I didn't really want to go into [one of the other banks] and try to set up a $6000 term deposit when I had a $2000 debit on my other account."
People he had told about the scheme had considered the rewards too small, and even smaller now that interest rates had gone down.
It was only after he had set up the scheme that he realised it had a name.
Wikipedia suggests stoozing was named after an internet discussion board contributor, Stooz, who was a prolific stoozer.
"Stoozing isn't exactly a way to get rich," the student said. "That's why I just took one afternoon to go around and do it - because the profit isn't that much."
The most important aspect of the scheme was to ensure the borrowed money remained intact - invested safely and repaid by the due date.
"Mostly, I just did it because it seemed like a way to make some money and figure out some of the systems banks have in place. It is sort of my chosen field of study."
Source : http://www.odt.co.nz
Are you looking for extra cash? There are numerous ways to make money online from home. These are free ways to make money and anyone can try. We are sharing here some ways to make money online.
1. Take a Part Time Job: Search part time jobs in your local area and apply. You can do some online jobs also.
2. Virtual Jobs: There are several companies that post online data entry jobs. You can look for these jobs on craiglist and other websites.
3. Paid Online Surveys: Participate in online market research surveys and make money fast. Paid surveys are the quickest way to make money online. Big companies are interested to know from consumers what they like. Paid online surveys usually pay 2-10$ per completed survey. There are several legitimate paid online surveys source: FPR
EarnExtraRupees.com helps visitors to find free and legitimate survey panels. Join the paid survey sites available in your country and get paid for your opinions.
Stay away from people and websites that promise to make rich by taking paid surveys and charge a membership fee for a list of survey panels. All legitimate survey panels are free. If you know how to take paid surveys then you can earn a good amount of money. Some people say it is free money but it is not free money you have to participate in online surveys in return of cash. The rewards are usually 2-10$ per completed survey. The payment method is cheque, Paypal, Amazon gift certificates and other prizes. A few survey panels transfer the money via direct to your bank account.
The best thing about paid surveys is it is free to join and anyone with a PC and Internet connection can do!
So if you are serious follow the above steps and Make Money Online Fast. For a recommended list to make money online check: http://earnextrarupees.com
Source : http://www.free-press-release.com
“It all depends on meeting certain income qualifications,” reports FOX 23’s Kaci Christian. “These CPAs from the Oklahoma Society of CPAs are taking calls [during our newscast from 5-6p on Thursday, March 12, 2009] to help you figure out whether you’re eligible. The IRS says 25% of the low-income people who qualify never even apply for the money simply because they’ve never heard of it.”
Corine Delcambre is a recent transplant to Tulsa. She’s a clerk at a local grocery store. Her husband is a student. And they have three children. Their combined household income is less than $12,000 a year. Preparing her tax return wasn’t something Corine was looking forward to, until she learned about the Earned Income Tax Credit.
“Oh, okay! Wow. This is really a shock,” Corine says.
It’s a shock to the tune of more than $4,000. According to the 2008 Earned Income Credit (EIC) Table, the chart shows the Earned Income Tax Credit (EITC) for someone married, filing jointly, with two or more children earning $12,000 a year is $4,810. That’s the amount of the EITC Corine can apply for, based on her estimate of their combined earnings from earned wages, defined by CPA Rick Freeman as “primarily salaries and W-2 wages, net, the net earnings from self-employment income, tips.”
Source : http://www.fox23.com
Money-market mutual funds hold about $3.9 trillion in assets, and have become increasingly popular places to park cash amid the beating that stocks and even bonds have taken lately. Here are tips from experts on how to find the best money funds:
1. FIND THE RIGHT FIT: While their yields are pretty low across the board, different types of money funds invest in different types of debt. So pick the right type to balance how much safety you're willing to give up for a slightly higher yield.
Many funds buy super-safe government debt such as Treasury bills, and generally carry the lowest yields — currently averaging a minuscule 0.1 percent or so. So-called prime funds seek slightly higher yields but accept marginal risk by venturing into some forms of corporate bonds, which carry the risk of default.
Money-market funds can also invest large sums in bank certificates of deposit, and command higher interest rates than you could get on your own. So-called tax-free money funds can invest in debt issued by state or local governments, which can offer tax advantages.
2. RESIST THE CHASE FOR YIELD: If you're comparing money fund yields, resist the temptation to buy a fund just based on a higher yield. Be sure to research the fund. Try to determine what risks the fund may be taking to generate the higher return — such as a soured investment in Lehman Brothers bonds, that led one money fund to expose investors to losses last fall.
3. CHECK EXPENSES: Fund expenses are a big consideration because a small difference in the amount you pay can offset the relatively modest yield of a money fund. Generally, look for expense ratios below 0.5 percent.
4. MONITOR FEES: With money fund yields at historic lows, fund companies are finding they can barely meet fund expenses and make a profit. That pressures the companies to pass on higher fees. Monitor disclosures about such fee increases.
What it is: A laptop carrying case made by Elk Grove Village, Ill.-based Travelon that allows air travelers to get their computers through security without taking the machines out of their carrying cases.
How it works: The case can be adjusted to fit your computer snugly. Once you have a good fit, wedge it in - add nothing else or security officers will make you take it out - and slip the computer in another carrying case, like a briefcase or a backpack. At the security checkpoint, the case must be removed and placed in its own plastic tub, but the computer can stay in the bag.
The good: It worked. I was skeptical I'd get through security without being told to remove the computer, but I did - at both airports. There is thick padding on the bottom of the bag, which protects the computer well. The bag is truly adjustable and fit both of the different sizes of laptops I tried getting in there.
The bad: There is no padding on the mesh side of the case, which allows security to see the computer. Also, putting the case in another bag seems redundant. I suppose you could carry it on its own, but then one half of your computer has no padding. Also, that would account for one of your two carry-on items.
Available from: Several stores. A list can be found at travelonbags.com.
In recent years, Bordeaux futures ran up to tremendous highs (see above chart above for three top chateaus ex-cellars; compiled from data from The Times of London). Now, they may be poised to fall back to 2002 prices, which is what British buyers told the Times they were willing to pay. A Bordeaux insider told me recently that the first growths really should not cross the €100 threshold. But he admitted that they probably will after they hear nice things about their wines at the en primeurs tastings in early April.
SIPPED: Bordeaux past
In a blast from what seems a distant past, a new investment fund for wine is opens this month with allegedly 15 to 20 million pounds of assets. Investors will need to meet the 500,000 pound minimum for the closed-end fund. Send checks to Richmond Park partners Steven Berger and Pascal Maeter who will manage the Lunzer Wine Investments Institutional Fund. [Bloomberg]
SIPPED: industrial waste over Givry
The Burgundy village of Givry has to contend with plans for a new industrial waste treatment plant on the outskirts of town. Last year’s mayoral campaign was fought largely around this issue with an anti-plant activist winning town hall. But the regional authorities later approved the plant, winemakers sued, and now a tribunal has suspended the approval. Score one for the winemakers! Check out the story at washingtonpost.com.
SPIT: excise tax
California’s legislature approved a new budget without increasing the excise tax on wine.
SIPPED and SPIT: wine blogs
The wine blog award winners have been announced. Alas, this blog is not among them. But thank you for your clicks of support! And hearty congratulations to the winners! [Fermentation]
A “Master of Coffee” (not Mister Coffee) in England has insured his tongue for £10 million ($13.95 million) via Lloyd’s of London (not to be confused with the newly nationalized Lloyds Banking Group, ahem). Take that Robert Parker–his policy is 14 times bigger than your policy! [BBC via sdelong]
As a Costa Coffee taster insures his tongue for £10m, here are 10 other unusual risks covered by the Lloyd's insurance market.
Coffee taster Gennaro Pelliccia, who samples products for Costa Coffee, has had his tongue insured for £10m with Lloyd's of London. Here are 10 other unusual policies that the insurance market has handled.
1. Lloyd's has insured the smile of America Ferrera, star of the hit television show Ugly Betty, for $10m.
2. The London insurance market has also insured Rolling Stones guitarist Keith Richards' fingers and Marlene Dietrich's legs – and, according to one history book, actress Bette Davis once insured her waistline against expansion.
3. Lloyd's developed a policy to cover loss of chest hair which could adversely impact a person's image or career. Under the terms of the policy, the policyholder would have to lose more than 85pc of his chest hair through an injury to his chest in order to make a claim. This loss would have to be verified by a panel of trichologists.
4. In 2008 Dutch wine maker Ilja Gort insured his nose for €5m to cover against any incident that could threaten his livelihood.
5. It has also insured Santa's beard, providing coverage for Brady White – the professional Father Christmas at Macy's department store in New York who also visits the likes of Pamela Anderson and Rene Russo.
6. In June 2004, history was made when SpaceShipOne became the first privately manned aircraft to reach space. Lloyd's insurer Amlin was lead underwriter for the $100m liability policy for the craft.
7. One film company took out a million-dollar policy with Lloyd's against the possibility of one of their actresses falling in love and getting married during her contract service. In the early part of the 20th century, Lloyd's insured cinemagoers against death from excessive laughter while at the cinema.
8. Formula One racing drivers at the front of the grid can buy cover for up to £50m, while those at the back are likely to have protection of around £500,000.
9. Golf: Hole-in-one insurances are regularly placed at Lloyd's, sometimes for as much as $50,000 a time.
10. In 2004, Lloyd's insured the £27m worth of jewellery worn by the stars at the Oscars.
March 9 (Bloomberg) -- Bank of America Corp., the largest U.S. bank by assets, and General Electric Capital Corp. raised a combined $16.5 billion today selling bonds backed by the U.S. government as they seek to hold down borrowing costs.
Bank of America, based in Charlotte, North Carolina, sold $8.5 billion of notes in its second-largest offering under the Federal Deposit Insurance Corp.’s Temporary Liquidity Guarantee program. The finance arm of General Electric Co. sold $8 billion of notes, also its second-biggest under the program.
Financial companies are relying on the FDIC program as yields relative to benchmarks on their debt that isn’t guaranteed by the government soar to the highest on record. Banks have few alternatives to finance themselves at lower interest rates as investors grow concerned that they don’t have enough capital to absorb losses amid a deepening global recession, said Guy Lebas, chief economist at Janney Montgomery Scott LLC in Philadelphia.
“It’s so much cheaper to issue TLGP debt than unsecured that every bank out there is replacing maturing debt with TLGP deals,” Lebas said in a telephone interview. “No financial issuer in their right mind would come with a non-FDIC debt issue right now. Markets are penalizing them very severely.”
Yields Over Benchmarks
The average yield over benchmark rates on financial company debt has risen 1.64 percentage points this year to 8.52 percentage points as of March 6, according to Merrill Lynch & Co.’s U.S. Financial Corporate index. That is the highest on record, the data show. The index doesn’t include FDIC-backed debt.
Financial issuers marketed more than $16.5 billion in FDIC- backed debt today, bringing this month’s total to $18 billion and already eclipsing the $17.4 billion of issuance in February. Banks, seeking to reduce borrowing costs and diversify their funding, are using the government’s program to boost cash levels and reduce risk.
“GE ran into a few stresses in the last weeks and I think they’re likely to employ a more conservative funding mix going forward,” Lebas said.
GE Capital, based in Stamford, Connecticut, issued $4 billion of 30-year, 6.875 percent bonds in January without a government guarantee at 98.48 cents on the dollar to yield 400 basis points more than similar-maturity Treasuries, Bloomberg data show. The senior unsecured bonds traded at 72.319 cents on the dollar on March 6 to yield 9.74 percent, according to Trace, the bond price reporting system of the Financial Industry Regulatory Authority.
Bank of America
Bank of America sold $4 billion of floating-rate notes due in September 2010 that pay three basis points more than the three-month London interbank offered rate, and $2.5 billion of floating-rate notes due in June 2012 that yield 20 basis points more than three-month Libor, Bloomberg data show.
The bank also sold $2 billion of 2.375 percent fixed-rate notes due June 2012 that pay 102.5 basis points more than similar-maturity Treasuries, Bloomberg data show. A basis point is 0.01 percentage point. Libor, a borrowing benchmark, is currently set at 1.31 percent.
Bank of America spokesman Scott Silvestri couldn’t be reached for comment.
GE Capital sold $4 billion of two-year, 1.8 percent notes priced to yield 86.7 basis points more than Treasuries, and $1 billion of two-year, floating-rate notes at eight basis points over three-month Libor, Bloomberg data show.
GE Capital also sold $1.5 billion of three-year, 2.25 percent notes at 91.2 basis points more than similar-maturity Treasuries, and $1.5 billion of three-year, floating-rate notes at 20 basis points over three-month Libor, the data show.
“There was tremendous demand for the offering,” said GE spokesman Russell Wilkerson. GE has now “pre-funded” about $41 billion of the $45 billion planned in long-term debt maturing this year.
Bonds guaranteed through the FDIC program are rated Aaa by Moody’s Investors Service and AAA by Standard & Poor’s, their highest rankings.
Source : http://www.bloomberg.com