Showing posts with label blog. Show all posts
Showing posts with label blog. Show all posts

Thursday, December 13, 2007

Lame Ducks in Bali

clipped from blogs.wsj.com
Frustration with U.S. negotiating tactics at the climate conference burst wide open Thursday, with countries from Germany to Tuvalu blaming the U.S. for torpedoing a new climate-change deal. Europeans have threatened to skip the U.S.-sponsored global warming fest in Hawaii in January in retaliation for the slow-go tactics of U.S. negotiators.
But another crew of Americans, skippered by Al Gore, Michael Bloomberg, and John Kerry, are getting a hero’s welcome.
gorepointing_art_200_20071213141355.jpg
“People are turning away from the official delegation and they’re starting to face toward the future,” he says. They can’t afford to wait around for the next president.”
America’s official negotiators are seen as an increasingly irrelevant nuisance
International frustration peaked after the U.S. team blocked language that would establish concrete targets for greenhouse-gas reductions.
Sen. Kerry promised the U.S. would take the lead fighting climate change — eventually.
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The Housing Bubble

The chart on House-Price-to-Rental Ratio is one of the best illustrations I have seen of the current housing bubble. In many places it is now substantially cheaper to rent then own. In fact, in many places the cost of ownership is more then 150 percent of the cost of renting after calculating in the tax benefits.

Comments?
clipped from online.wsj.com

HOME OWNERSHIP

U.S. home ownership rates from 1900 through the current year

HOUSE PRICE-TO-RENTAL RATIO

Reflecting the booming real-estate market since 2000, the ratio of home prices to rent expenditures has risen sharply.

Ratio of OFHEO house price index to personal consumption expenditures on rent

Source: Congressional Budget Office; Office of Federal Housing Enterprise Oversight; Department of Commerce, Bureau of Economic Analysis

COMMERCIAL PAPER

Earlier this year, many mortgage-backed assets held by SIVs went bad suddenly. Assets could be downgraded from top to bottom overnight. Asset prices stop falling when markets conclude that all the bad news has been factored in.

Overnight commercial paper interest rates, daily through Nov. 20, 2007

PRICES OF SUBRPRIME MORTGAGE TRANCHES

Source: Markit ABX.HE index published by Markit

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A New Way for Doctors to Get Sued?

I would be interested in hearing comments to this one.
clipped from blogs.wsj.com
A man taking several prescription drugs passes out at the wheel, drives off the road and hits and kills a 10-year-old boy. Can the boy’s mother sue the doctor who prescribed the drugs?
The answer is yes
at least according to a ruling made yesterday by Massachusetts’s Supreme Judicial Court, reported in the Boston Globe.
The mother’s lawyers allege that the doc failed to warn his patient about the side effects of the medications and the potential danger of driving while taking them.
The patient was reportedly 75 years old and had emphysema, high blood pressure and metastatic lung cancer.
He had prescriptions from his doctor for a handful of drugs whose side effects include drowsiness, dizziness, and fainting
He reported no side effects in the months before his accident
In a dissent, Justice Robert J. Cordy wrote that the ruling “introduces a new audience to which the physician must attend — everyone who might come in contact with the patient.”
medmal
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Straight Dope on Baseball’s Drug Problem

The complete Q and A is available at the source site. The Health Blog.
clipped from blogs.wsj.com

If you’re ever going to talk to the guy who wrote a book called Performance-Enhancing Substances in Sports and Exercise, today’s the day. As the clock ticked on the release of the big Mitchell report on doping in baseball, the Health Blog managed to get Charles Yesalis on the phone.

Yesalis, a professor emeritus of health and human development at Penn State, has been studying doping in sports for years. Here are the highlights of our conversation.

How did performance-enhancing drugs get into baseball?

It goes back to World War II. Immediately afterward, professional baseball players who served in the Army brought back amphetamines. It was absolutely rampant. It was mainly to deal with the long season — the mental wear and tear. It was also to help them recuperate from hard nights on the town. I think stimulants are clearly still involved as a significant aspect of the game.

What about steroids?
How much benefit does an athlete need from a drug to improve performance?
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Financial Ties to Parents and Children Affect Boomer Retirement

This was extracted from a good and interesting blog-- Sometimes I Feel Like a Piece of Bologna. This blog is worth visiting and adding to the reader.
Boomers, though arguably the most prosperous generation in American history, face mounting demands on their financial resources from both their adult children and their aging parents. In fact, one in six Boomers surveyed is "sandwiched," providing assistance to both their parents and adult children, according to Ameriprise Financial’s Money Across Generations study.
Boomers are torn between helping their adult children pay off debts and get started, and helping their aging parents with necessities. This help often comes at the expense of funding their own retirement.
My husband and I have very different perspectives on this. His parents provided everything for him through college, and were generous until their deaths. My parents provided nothing. I paid for college, grad school, and all expenses from junior high forward. Yes, it was very hard and I missed out on a lot. But I learned to be independent and make my own way.

Sometimes I Feel Like a Piece of Bologna
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Wednesday, December 12, 2007

Scientists: 'Arctic Is Screaming,' Global Warming May Have Passed Tipping Point

clipped from www.foxnews.com
An already relentless melting of the Arctic greatly accelerated this summer, a warning sign that some scientists worry could mean global warming has passed an ominous tipping point. One even speculated that summer sea ice would be gone in five years.
Greenland's ice sheet melted nearly 19 billion tons more than the previous high mark, and the volume of Arctic sea ice at summer's end was half what it was just four years earlier, according to new NASA satellite data

2007 shattered records for Arctic melt in the following ways:

552 billion tons of ice melted this summer from the Greenland ice sheet
A record amount of surface ice was lost over Greenland this year
Alaska's frozen permafrost is warming
White sea ice reflects about 80 percent of the sun's heat off Earth
Earth has hit one of his so-called tipping points
"At this rate, the Arctic Ocean could be nearly ice-free at the end of summer by 2012, much faster than previous predictions."
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Democracy?

clipped from blogs.wsj.com
Since the U.S. invasion in 2003, women have faced more restrictions as the formerly secular Iraq becomes religious. Few women leave their hair uncovered in Baghdad. Women’s activists fear women will suffer if the new constitution eventually allows individuals to decide domestic issues according to Islamic religious traditions.
Policewomen in Iraq have been told to hand in their guns, in the latest sign of cultural and religious conservatism taking hold in the country, reports the Los Angeles Times’s Tina Susman.
Most of the few policewomen who worked in street patrols have been reassigned to desk jobs.
Gen. Phillips says when he questioned Iraqi Interior Ministry officials about the diminishing role of women in the force, he was told, “Females are taken care of by men in this country.”
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Who's decorating the trees on the Garden State Parkway?

Maybe more people should be doing this.
clipped from blogs.usatoday.com

Someone is trying to spread a little Christmas cheer along New Jersey's Garden State Parkway.
20071212ornaments
The AP reports that just after Thanksgiving, two large glass ornaments mysteriously appeared on two large pine trees alongside the Parkway in New Jersey's Pinelands. Since then, five more decorations have popped up in the same house-free area.
"Somebody has a lot of holiday spirit, which is great, but a lot of spare time at night, which is not so great," Joseph Orlando, a spokesman for the New Jersey Turnpike Authority, told the AP. The authority operates the 173-mile toll road, which traverses the state and cuts through 50 municipal areas.
No one has taken responsibility for the ornaments. "It's a mystery to us," State Police Capt. Al Della Fave told the AP.
(Photo by Mel Evans, AP)
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Monday, December 10, 2007

Billion Dollar Loogie

clipped from blogs.wsj.com
Sure, the walking, talking gob of phlegm (pictured) was genius. But it was a clever intellectual property strategy that made that loogie worth $2.3 billion.
That’s how much British conglomerate Reckitt Benckiser just agreed to pay for Adams Respiratory Therapeutics, the maker of the cough medicine Mucinex (and sponsor of the Mr. Mucus ads).
Guaifenesin, the active ingredient in Mucinex, is a medicine that’s about as old as the hills. But Adams was the first company to do clinical trials to prove to the FDA that the long-acting form of the drug is safe and effective. That meant it got exclusive rights to that formulation — which was enough to get the FDA to bump a bunch of generic versions off the market. And congested consumers, happy to take their medicine less often, snapped up Mucinex.
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Saturday, December 08, 2007

What’s in a Name?

Would you think about this before naming your kid?
clipped from blogs.wsj.com
In this week’s print column, I analyze a study that links people’s initials to surprising trends.
For example, major league baseball players with first or last initial K were more likely than average to strike out; and business graduate students with initials C or D had lower grades, on average
earlier research exploring this link between our names and our taste — in brand names, in hometowns (Louis prefers St. Louis, Jack likes Jacksonville), and in street names.
clipped from blog.newsweek.com
People like their names so much that they unconsciously opt for things that begin with their initials.
Even weirder, they gravitate toward things that begin with their initials even when those things are undesirable, like bad grades or a baseball strikeout.
The pattern held for grades, too. Using 15 years (1990–2004) of grade point averages for business school grads, they found that students whose names began with C or D earned lower GPAs than those whose names began with A or B.
clipped from papers.ssrn.com
Moniker Maladies: When Names Sabotage Success
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Thursday, December 06, 2007

Nearly 20,000 Downgrades — and Counting

clipped from blogs.wsj.com
The tsunami of subprime-related bond downgrades this quarter sent shockwaves throughout the financial markets. Now that the tide has weakened, analysts are surveying the wreckage.
According to research from Deutsche Bank, credit rating companies Moody’s Investors Service, Standard & Poor’s and Fitch Ratings have issued an unprecedented 19,795 debt downgrades so far this year among securitized assets.
That compares with the 2,539 separate downgrades they issued for all of 2006, and the previous annual record for downgrades, which was 4,168 in 2003.
The percentage of subprime-mortgage-backed debt affected by downgrades is much higher – for example, 58% of collateralized debt obligations backed by subprime collateral that were issued from 2005 to 2007 have been downgraded
“Even more alarming is the degree to which very highly rated securities seem to have deteriorated overnight
some securities issued by collateralized debt obligations had their ratings slashes from triple-A to “distressed”
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The Subprime Bailout Bonanza

clipped from blogs.wsj.com
And so it begins. The bailout to end all bailouts
Housing
government involvement in the markets on a level not seen since the resolution of the S&L crisis
subprime_c_20071206135114.jpg
Lehman Brothers expects about 2.8 million subprime mortgages to reset in 2008 and 2009 about 30% higher
The questions that remain is whether intervention in these markets will produce an solution that will enhance the value of the vast supply of mortgages
Housing Prices
“The cost of this is, actually, going to be absorbed by investors in mortgage-backed securities,” they write. “This is why ‘good credit’ borrowers are not going to be ‘rewarded’ — because investors cannot be brought to forgo that much interest.”
The double-A rated ABX was traded at 39.8 cents on the dollar this morning, as investors still see very little value being recovered from those loans.
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Bridezilla Back, Sued Florist

Everybody gets 15 minutes.
clipped from blogs.wsj.com
Lawyer Bride Who Sued Her Florist
Elana Glatt et al. v. Posy Floral Design Studio
sued the florist after she was displeased with how things turned out. (Click here and here for Law Blog Background.)
she goes by Elana Elbogen, her maiden name
glatt
click here for pages 4 through 11 of the answer
click here for the 19-page complaint in full.
highlights:
groom-to-be allegedly had no involvement in the floral arrangements!
Glatt and her future mother-in-law allegedly disagreed on the floral arrangements! “
Herbert Glatt, MD, the father of the groom, allegedly paid for the flowers
Elana and her future mother-in-law made so many last-minute changes
even “up until the final few hours of the latest possible date that Posy Designs was able to place flower orders for Plaintiff’s wedding event that were known and expected to be imported directly from Holland.”
The florists asked for sanctions against Glatt for filing a frivolous and malevolent lawsuit.
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Fat kids die young

Wake up parents.
clipped from www.usatoday.com
A growing epidemic of childhood obesity worldwide will lead to an increase of premature heart attacks and strokes, say two studies out today.
Taken together, doctors say, the studies provide new evidence that excess weight does affect a child's long-term risk of heart disease and life expectancy. Previous studies have yielded conflicting results.
"The entire argument will be irrelevant, once the full effects of the childhood obesity epidemic are felt," says David Ludwig of Children's Hospital in Boston
The higher a child's body mass index
the higher his risk of getting heart disease

Childhood obesity in the U.S. will lead to a glut of heart attacks, strokes, episodes of avoidable chest pain, medical procedures and deaths.

YearExcess crisesNeedless Deaths
2020600 130
2025 5,400 550
2030 11,000 1,500
203537,000 3,700
Fitness resources and success stories
A 13-year-old boy in the highest weight category increased his risk of having a heart attack or other heart-related problem by 33%
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Wednesday, December 05, 2007

'catastrophic runway collision' inevitable

clipped from blogs.usatoday.com
The nation faces "a high risk of a
catastrophic runway collision'"and efforts to improve the problem have
stumbled due to lackluster federal leadership, technology glitches and
poor data collection, according to a congressional report released Wednesday.
Report: U.S. airports face risk of 'catastrophic runway collision'
Here's the full story, and here's the summary and full GAO report (PDF file) on which it's based.
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