Source: http://feedproxy.google.com/~r/bmjvodcast/~3/Kt3OxLmYHv0/profile2.html
Thursday, August 2, 2012
Santa Ana Health Crusade
The Journal profiles public health doctor America Bracho, who serves her Santa Ana, CA community – notorious for crime, poverty and disease – with her organization, Latino Health Access.
Bryan Stevenson and Michelle Alexander
In the months before his death, Dr. Martin Luther King Jr. had expanded his focus on racial justice to include reducing economic inequality. On this week's 42nd anniversary of King's assassination, Bill Moyers sits down with attorneys Bryan Stevenson and Michelle Alexander to discuss how far we've really come as a country, how poor and working class Americans have been falling behind and what America must do to fulfill Dr. King's vision.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/UMkNOfm52q0/profile.html
Cancer-Stricken Student Convinces Aetna CEO To Pay Off His Medical Bills Via Twitter
Talk about the power of social media — one graduate student battling Stage IV colon cancer in Arizona found out his Aetna health insurance plan had exceeded his $300,000 limit.He took to Twitter to express his frustration as his medical bills continued to grow and it turns out someone very influential was listening — the [...]
Samba growing pains continue in OS X Lion
Apple made a significant change in Samba support in OS X with its move to SMBX in OS X Lion. The changeover continues with the forthcoming OS X Mountain Lion. However, longtime Mac admins will likely find some frustration when dealing with the change.
Source: http://www.zdnet.com/samba-growing-pains-continue-in-os-x-lion-7000001353/
Itching to Store
With four of us in an 850 sq ft house (with basement) space is at a premium. Each summer I get purging fever and feel the need to go through things and chuck (recycle, donate etc). I guess it is my way of psychologically balancing the 'one in one out' that doesn't always get done over the year.
Each summer for the past four summers I stare at the far wall of my recroom and cringe. It's full of clutter. Boxes and containers and piles of stuff. Mostly DS1's hockey stuff and a whack of DH's scout leader stuff. There is no store room in the house so this is where it gets dumped. On Sunday, I with the temps soaring, I sought refuge in the cooler basement, which is usually occupied by the boys. I stared at that wall and went batsh*t crazy. Couldn't stand it. So off to the internet I went to see how much it would cost to put cabinets on the wall. I have talked about it before but talk is cheap when one never does anything about it.
I found a few that were interesting but required drives to a neighbouring city. I checked out our limited resources in town and found they just didn't have what I wanted.
Home Depot to the rescue. We don't have one here but there is one in the city. The cabinets were 72 inches high and deep enough to hold a lot. The price ? $99. Now they are not solid wood. What is these days? I wouldn't have been able to afford them anyways. But $99 I could swing.
So yesterday I conned DH into driving with me into the city to get them. Four to be precise. The boxes are happily sitting in my garage waiting for assembly. I sure hope assembly goes well. The reviews were fairly favourable in that regard.
Where will the money come from? Well in July my paycheque is a bit larger as many of my deductions only come off in the 10 months of the school year. I will get $400 extra. yes!! perfect. So onto the CC it went, to be paid off in 2 weeks when my cheque comes in. There was $20 in tax. I have that left from groceries from last week, so I put it down on the CC already.
I am beyond excited and will be moreso when they are up (without a hitch) and happily storing my stuff.
Source: http://shakingthemoneytree.blogspot.com/2012/07/itching-to-store.html
Deepening the American Dream
Viewers comment on the future of the American Dream.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/bz1dZzJjaQY/watch3.html
Bear Stearns Ex-Managers to Pay $1 Million to Settle Fraud Case
The federal judge overseeing the securities fraud case said it was "being settled for, relatively speaking, chump change," but that he was inclined to sign off on the settlement.
Why Don't Main Street Investors Use Advisors?
Less than one-third of Main Street investors works regularly with a financial advisor, according to Millionaire Corner research, which explores why the client-advisor relationship may be breaking down.
Main Street Americans, those with investable assets of $100,000 up to $1 million, are most apt to describe themselves as “self-directed” or “event-driven” investors, according to a study on advisor relationships conducted by Millionaire Corner in the third quarter of 2011.
The self-directed (35 percent) manage their finances without any professional help, while the event-driven (34 percent) seek financial advice concerning certain life events, such as planning for retirement. Only 10 percent rely entirely on an advisor to make all their financial decisions and describe themselves advisor-dependent. Twenty-one percent consult with an advisor, but make their own decisions, and are considered to be advisor-assisted.
Main Street investors may be in the driver’s seat, but they freely admit that they don’t necessarily know where they are going, describing themselves as generally lacking in financial knowledge. So, why don’t more Main Street investors seek out the services of a financial advisor?
As a group, Main Street Americans appear sensitive to the fees charged by an advisor. More than 80 percent say fees are a major factor in choosing an advisor, and 53 percent say they find the fees of a professional advisor to be “very expensive.” (In general, affluent investors prefer paying advisors flat fees as opposed to commissions.)
Nearly one-fourth (23 percent) believes they can do a better job of investing than a professional, and the share jumps to 44 percent of self-directed investors.
More than 30 percent of Main Street investors report having had a bad experience with an advisor in the past. They say they would leave an advisor for not returning phone calls or emails quickly, not providing good ideas and advice, not being proactive in making contact and long-term losses. The results indicate that Main Street investors would like some of the personalized attention that appears reserved for high net worth investors.
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Source: http://www.millionairecorner.com/article/why-dont-main-street-investors-use-advisors
Simon Johnson and James Kwak, Part II
How did Big Finance grow so powerful that its hijinks nearly brought down the global economy – and what hope is there for real reform with Washington politicians on Wall Street's payroll? Bill Moyers talks with authors Simon Johnson and James Kwak, two of the nation's most respected economic experts and authors of the new book 13 BANKERS: THE WALL STREET TAKEOVER AND THE NEXT FINANCIAL MELTDOWN. Also, a Bill Moyers essay on the true costs of war.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/TLwxO15I8SE/watch2.html
Wednesday, August 1, 2012
Does It Matter That a German Exchange May Control the NYSE?
Filed under: Investing, Investing Basics, NYSE, Market News, Investment
Capitalism has many ways of dealing with failure. If a company is small enough to fail without bringing down an entire industry or economy, it files for bankruptcy. If such a failure seems to threaten wider economic stability, the company gets a government bailout. And if it fails moderately but still has some assets with value, it gets acquired.
This last form of failure comes to mind in the case of NYSE Euronext (NYX). In 2005, it handled 80% of all trading in the stocks it listed. Today, that share is down to 23%, according to Bloomberg. New competitors have hacked away at its market share by offering superior service at a lower price.
And, as I reported in a DailyFinance article in June, the NYSE has been trying to offset some of the lost revenues by selling high-speed access to the NYSE's computers so hedge funds can trade a fraction of a second ahead of regular customers -- a practice that skims $3 billion out of investors' pockets each year. Now, Germany's 18-year-old Deutsche Boerse (DBOEY) wants to buy 60% of the combined companies for $10 billion in stock.
Considering that the NYSE is a storied American institution -- founded back in 1792 by traders standing beneath a buttonwood tree -- it's not unreasonable to ask whether the U.S. should allow a German company to control it. But the reality is that the luster of NYSE's name and history is far greater than its competitive position today. If Germany ever decided to close down the NYSE, nimbler U.S. exchanges would jump in immediately, eager to pick up the slack.
Computerized Competitors: Faster, Better, Cheaper
Investors don't decide where to trade based on an exchange's address: They want fast, inexpensive trade execution. And thanks to regulatory changes regarding what exchanges can charge, and an evolution of the industry structure that made room for new, computerized exchanges, that's what they get. A decade ago, it cost 6.25 cents to execute a 100-share trade. Today that cost is down to a penny.
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And unlike the NYSE, which still has a few costly specialists whose job is to match up buyers and sellers for a specific stock, the 50 computerized exchanges -- up from 20 in 2000 -- don't. So exchanges such as Getco, Bats Global Markets and Direct Edge can make money -- with margins as high as 55% for trading derivatives -- while offering low prices and fast execution, reports Bloomberg.The NYSE has been going downhill for at least 40 years. The competition really got going in 1971 when the Nasdaq was formed to provide computerized trading and price quotes. In 1984, I consulted to the NYSE -- analyzing the competition it faced in the then-lucrative business of selling those price quotes. The business of charging for such quotes has essentially gone away.
Two scandals -- a 2003 flap over then-CEO Dick Grasso's $140 million compensation package and 2005's revelation that 15 NYSE specialists had manipulated prices to steal $19 million from clients -- tarnished the NYSE's remaining luster. In 2006, a reverse merger with Archipelago Holdings took the member-owned NYSE public.
A Decade of Merging for Leverage
If the Deutsche Boerse-NYSE Euronext merger goes through, it will be one among many similar marriages that have taken place over the last few years -- $95.8 billion worth since 2000, reports Bloomberg. The reason is simple: Once you build a computer system that can execute trades, the more trading volume you pump through the system, the higher your profits. This is bad news for people who work in the exchanges in jobs like sales, marketing and computer support. But it's better news for shareholders because mergers reduce costs.
If the two exchanges combine, they'll dominate the futures market. The Futures Industry Association estimates that the merged exchanges would be the top-ranked global futures trader, controlling 11 derivatives markets in the U.S. and Europe with 4.8 billion in contracts (based on last year's numbers). That's 55% more than 2010's futures leader, CME Group (CME).
For all the patriotic chest-thumping that might ensue over the idea of letting a German company control the NYSE, the truth is that the NYSE has been falling behind for decades. This merger is a way to rescue a failed company while it still has some salvage value.
As long as the U.S. can keep innovating in the creation of computerized exchanges, the price and speed of execution that investors want will keep improving -- and trading market share will shift to those innovators.
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Source: http://www.dailyfinance.com/2011/02/10/nyse-deutsche-boerse-merger-stock-exchange-germany/
Over-saving is inefficient
So is over-spending. But I won’t get into that here.
I had a question from a reader asking what my Myers Briggs type is – and it’s INTJ.
Despite the rarity of that personality type (aren’t we all such special snowflakes though?), there’s been some anecdotal surveys that determined that INTJ’s are overly represented amongst the early [...]
I had a question from a reader asking what my Myers Briggs type is – and it’s INTJ.
Despite the rarity of that personality type (aren’t we all such special snowflakes though?), there’s been some anecdotal surveys that determined that INTJ’s are overly represented amongst the early [...]
Source: http://singlemomrichmom.com/over-saving-is-inefficient/
Buffett's Gloomy View of Our Economic Future?
This morning Warren Buffet's company Berkshire Hathaway announced that it was buying Burlington Northern Santa Fe in a deal valued at $44 billion. In the announcement, Buffett called the purchase an "all-in wager on the economic future of the United States."
Is Buffett right that a bet on Burlington Northern is a bet on the economic future of the U.S.? Because if Buffett is right, we've got real problems.
Let's take a look at what Burlington Northern carries. Its major freight revenues (as of 2008) come from coal (23% of revenues); agricultural products (20%); international intermodal shipments of consumer products, which is probably mostly imports (16%); construction and building products (14%); and petroleum products (4%).
In essence, Buffett is betting that the next ten years will look a lot like the last ten: A lot of growth in imports, construction, energy and agricultural products. If he thought that innovation was going to be the driver of the next ten years--biotech, energy, and infotech--he wouldn't be buying Burlington Northern.
I'm not saying that Buffett is wrong. His skepticism about the tech sector in the late 1990s, and innovation in general, turned out to be right on the mark. Berkshire Hathaway stock over the past decade has risen by 84%, whil the S&P 500 is down by 18%.
But his "all-in wager on the economic future of the United States" paints a remarkably gloomy picture of where we are heading.
Source: http://www.businessweek.com/the_thread/economicsunbound/archives/2009/11/what_does_buffe.html
Debt crisis: ECB intervention hopes drive markets higher
European markets rose sharply amid mounting speculation of a dramatic intervention by the European Central Bank to arrest the crisis engulfing the region.
Refreshing Sunday
Finally our heat wave has been broken. It got cooler yesterday afternoon and cloudy and the forecast was for rain. It was so nice to be able to have the windows open and not hear the fan droning away. I felt like I was able to DO things instead of swelter. Can you tell I don't handle heat well?
I got in a couple walks, did some laundry, did some cleaning and I even dared to turn the oven on to bake cookies in the early evening. Even boiling something on the stove made the house infinitely hotter and muggier so being able to turn on the oven without melting was a bonus. I even managed to get the lawn cut before it rained. DS1 was at work.
It was refreshingly cool last night and about 2 AM a light, steady rain started coming down. It was such a wonderful sound.
This morning I was awakened by an odd sound outside my bedroom window. I always sleep with one ear open when DH is not home. Cautiously I raised my head to the window to find a young deer outside munching on my dogwood shrub. We both were equally startled lol
This morning is a beautiful soft morning. I started it curled up in the living room with the front door open, enjoying the cool fresh breeze and the sound of the rain falling. Such a privilege to sit with my coffee and relax, and watch a few Til Debt Do Us Part reruns. As the rain stopped for a bit I could hear sounds from the ball diamonds echoing up to my house.
I have cupcakes in the oven and they smell great. I will be good and not have one :-)
DS2 will enjoy them when he comes home tonight. FINALLY. I miss him. He will be tired after working 18 hours a day at his scout camp in this weather. There are tons of mosquitos and horseflies up there too. I don't know how he does it. He's been running camps for small groups that come up. Teaches them knife skills, firebuilding skills, canoeing, archery, shelter making, cooking over open fire. etc. He had a group of four of them out on an overnight Thursday night.
Friday morning he was in for a shock. Two of my sisters headed up there to visit him and see his world he thrives in. It's harder to share in his passion. With DS1 they can go to his hockey games. With other nieces and nephews we can go watch them curl, play football or volleyball, perform in a play etc but often DS2 doesnt get those moments of family at his activities. So the blond duo headed up. DH paid for their use of the camp and DS2 taught them all the things he would teach a regular group. One of my sisters is a photo hound so there are TONS of pictures of the whirlwind 24 hour visit.
Here are a few:
This is DS2 with one of the aunties (sister #2). She proceeded to dump the canoe to 'check' to see if DS remembered his lessons on how to get back into a canoe from the water. He got her back later :-)
Their slingshot targets - a great way to use old scratched CDs.
I got in a couple walks, did some laundry, did some cleaning and I even dared to turn the oven on to bake cookies in the early evening. Even boiling something on the stove made the house infinitely hotter and muggier so being able to turn on the oven without melting was a bonus. I even managed to get the lawn cut before it rained. DS1 was at work.
It was refreshingly cool last night and about 2 AM a light, steady rain started coming down. It was such a wonderful sound.
This morning I was awakened by an odd sound outside my bedroom window. I always sleep with one ear open when DH is not home. Cautiously I raised my head to the window to find a young deer outside munching on my dogwood shrub. We both were equally startled lol
This morning is a beautiful soft morning. I started it curled up in the living room with the front door open, enjoying the cool fresh breeze and the sound of the rain falling. Such a privilege to sit with my coffee and relax, and watch a few Til Debt Do Us Part reruns. As the rain stopped for a bit I could hear sounds from the ball diamonds echoing up to my house.
I have cupcakes in the oven and they smell great. I will be good and not have one :-)
DS2 will enjoy them when he comes home tonight. FINALLY. I miss him. He will be tired after working 18 hours a day at his scout camp in this weather. There are tons of mosquitos and horseflies up there too. I don't know how he does it. He's been running camps for small groups that come up. Teaches them knife skills, firebuilding skills, canoeing, archery, shelter making, cooking over open fire. etc. He had a group of four of them out on an overnight Thursday night.
Friday morning he was in for a shock. Two of my sisters headed up there to visit him and see his world he thrives in. It's harder to share in his passion. With DS1 they can go to his hockey games. With other nieces and nephews we can go watch them curl, play football or volleyball, perform in a play etc but often DS2 doesnt get those moments of family at his activities. So the blond duo headed up. DH paid for their use of the camp and DS2 taught them all the things he would teach a regular group. One of my sisters is a photo hound so there are TONS of pictures of the whirlwind 24 hour visit.
Here are a few:
Their slingshot targets - a great way to use old scratched CDs.
Source: http://shakingthemoneytree.blogspot.com/2012/07/refreshing-sunday.html
Central Banks Spark Bullish Conditions
As outlined in a popular October 2011 video on the European debt crisis, we are well aware of the serious nature of the problems facing the financial markets. However, our market models have been telling us, and continue to tell us, to be open to ongoing bullish surprises. Debt market and economic fundamentals [...]
Iowa Citizens for Community Improvement
The Journal travels to Iowa where one group, Iowa Citizens for Community Improvement (CCI), has been helping ordinary citizens fight for change for more than three decades.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/DEGRCYiFG1g/profile3.html
Robert Kuttner and Matt Taibbi
Amidst fading hopes for real reform on issues ranging from high finance to health care, economist Robert Kuttner and journalist Matt Taibbi join Bill Moyers to discuss Wall Street's power over the federal government.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/0R2wEiSLwoc/profile.html
Simon Johnson and James Kwak, Part II
How did Big Finance grow so powerful that its hijinks nearly brought down the global economy – and what hope is there for real reform with Washington politicians on Wall Street's payroll? Bill Moyers talks with authors Simon Johnson and James Kwak, two of the nation's most respected economic experts and authors of the new book 13 BANKERS: THE WALL STREET TAKEOVER AND THE NEXT FINANCIAL MELTDOWN. Also, a Bill Moyers essay on the true costs of war.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/TLwxO15I8SE/watch2.html
Canadian Personal Finance Happy Hour – 7th Edition
Last week there was no edition (didn’t receive it from the blog carnival). So I wanted to thank everyone for submitting their entries this week – each week I am trying to only pick the best posts that I think work the best. It was an exciting weekend for us last weekend as we took [...]
Source: http://www.canadianpersonalfinance.com/canadian-personal-finance-happy-hour-7th-edition.html
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