New
Bookmarks
Year 2005 Quarter 1: January 1 - March 31 Additions to Bob
Jensen's Bookmarks
Bob Jensen at Trinity
University
For
earlier editions of New Bookmarks go to http://www.trinity.edu/rjensen/bookurl.htm
Plus the Tidbits Directory --- http://www.trinity.edu/rjensen/TidbitsDirectory.htm
Click
here to search Bob Jensen's web site if you have key words to enter --- Search
Site.
For example if you want to know what Jensen documents have the term
"Enron" enter the phrase Jensen AND Enron. Another search engine that
covers Trinity and other universities is at http://www.searchedu.com/.
My communications on "Hypocrisy
in Academia and the Media" --- http://www.trinity.edu/rjensen/hypocrisy.htm
My
“Evil Empire” essay --- http://www.trinity.edu/rjensen/hypocrisyEvilEmpire.htm
My unfinished essay on the "Pending Collapse of the
United States" --- http://www.trinity.edu/rjensen/entitlements.htm
Of course the
people don't want war. All you have to do is tell them they are being attacked,
and denounce the peacemakers for lack of patriotism and exposing the country to
danger. It works the same in any country.
Hermann
Göring
Facts about the earth in real time --- http://www.worldometers.info/
Sure wish there'd be a little good news today.

Choose a Date
Below for Additions to the Bookmarks File
March 22, 2005 March 1, 2005
February 20, 2005
February 8, 2005
February 1, 2005
January
18, 2005 January
5, 2005

March 22, 2005
Bob Jensen's New Bookmarks on March 22,
2005
Bob
Jensen at Trinity
University
For earlier
editions of New Bookmarks go to http://www.trinity.edu/rjensen/bookurl.htm
Click here to search Bob Jensen's web site if you have key words
to enter --- Search Site.
For example if you want to know what Jensen
documents have the term "Enron" enter the phrase Jensen AND Enron.
Another search engine that covers Trinity and other universities is at http://www.searchedu.com/.
Facts about the
earth in real time --- http://www.worldometers.info/
Sure wish there'd be a
little good news today. Think it over
http://www.inlibertyandfreedom.com/Flash/Think_It_Over.swf
Real time meter
of the U.S. cost of the war in Iraq --- http://www.costofwar.com/
Pictures from
the war --- http://www.clermontyellow.accountsupport.com/flash/UntilThen.swf
New pictures from the war --- http://209.157.64.200/focus/f-news/1291780/posts
Also see some troops who'd rather be home
<http://www.clermontyellow.accountsupport.com/flash/UntilThen.swf>
For Quotations of the Week, go to
http://www.trinity.edu/rjensen/book05q1.htm#Quotations032205
For Humor of the Week, go to
http://www.trinity.edu/rjensen/book05q1.htm#Humor032205
My communications on "Hypocrisy
in Academia and the Media" --- http://www.trinity.edu/rjensen/hypocrisy.htm
My
“Evil Empire” essay --- http://www.trinity.edu/rjensen/hypocrisyEvilEmpire.htm
My
unfinished essay on the "Pending Collapse of the United
States" --- http://www.trinity.edu/rjensen/entitlements.htm
"IRS Announces the 2005 Dirty Dozen Tax Scams," AccountingWeb,
March 3, 2005 --- http://www.accountingweb.com/cgi-bin/item.cgi?id=100597
The 2005 Dirty Dozen
The IRS urges people to avoid these common schemes:
Trust Misuse.
Unscrupulous promoters for years have urged taxpayers to transfer assets into
trusts. They promise reduction of income subject to tax, deductions for
personal expenses and reduced estate or gift taxes. However, some trusts do
not deliver the promised tax benefits, and the IRS is actively examining these
arrangements. More than two dozen injunctions have been obtained against
promoters since 2001, and numerous promoters and their clients have been
prosecuted. As with other arrangements, taxpayers should seek the advice of a
trusted professional before entering into a trust.
Frivolous Arguments.
Promoters have been known to make the following outlandish claims: that the
Sixteenth Amendment concerning congressional power to lay and collect income
taxes was never ratified; that wages are not income; that filing a return and
paying taxes are merely voluntary; and that being required to file Form 1040
violates the Fifth Amendment right against self-incrimination or the Fourth
Amendment right to privacy. Don’t believe these or other similar claims.
Such arguments are false and have been thrown out of court. While taxpayers
have the right to contest their tax liabilities in court, no one has the right
to disobey the law.
Return Preparer Fraud.
Dishonest return preparers can cause many headaches for taxpayers who fall
victim to their ploys. Such preparers derive financial gain by skimming a
portion of their clients’ refunds and charging inflated fees for return
preparation services. They attract new clients by promising large refunds.
Taxpayers should choose carefully when hiring a tax preparer. As the saying
goes, if it sounds too good to be true, it probably is. No matter who prepares
the return, the taxpayer is ultimately responsible for its accuracy. Since
2002, the courts have issued injunctions ordering dozens of individuals to
cease preparing returns, and the Department of Justice has filed complaints
against dozens of others, which are pending in court.
Credit Counseling Agencies.
Taxpayers should be careful with credit counseling organizations that claim
they can fix credit ratings, push debt payment agreements or charge high fees,
monthly service charges or mandatory “contributions” that may add to debt.
The IRS Tax Exempt and Government Entities Division has made auditing credit
counseling organizations a priority because some of these tax-exempt
organizations, which are intended to provide education to low-income customers
with debt problems, are charging debtors large fees, while providing little or
no counseling.
"Claim of Right" Doctrine.
In this scheme, a taxpayer files a return and attempts to take a deduction
equal to the entire amount of his or her wages. The promoter advises the
taxpayer to label the deduction as “a necessary expense for the production
of income” or “compensation for personal services actually rendered.”
This so-called deduction is based on a misinterpretation of the Internal
Revenue Code and has no basis in law.
“No Gain” Deduction.
Similar to “Claim of Right,” filers attempt to eliminate their entire
adjusted gross income (AGI) by deducting it on Schedule A. The filer lists his
or her AGI under the Schedule A section labeled “Other Miscellaneous
Deductions” and attaches a statement to the return, referring to court
documents and including the words “No Gain Realized.”
Corporation Sole.
Since September 2004, the Department of Justice has obtained six injunctions
against promoters of this scheme and filed complaints against 11 others.
Participants apply for incorporation under the pretext of being a “bishop”
or “overseer” of a one-person, phony religious organization or society
with the idea that this entitles the individual to exemption from federal
income taxes as a nonprofit, religious organization. When used as intended,
Corporation Sole statutes enable religious leaders to separate themselves
legally from the control and ownership of church assets. But the rules have
been twisted at seminars where taxpayers are charged fees of $1,000 or more
and incorrectly told that Corporation Sole laws provide a “legal” way to
escape paying federal income taxes, child support and other personal debts.
Identity Theft.
It pays to be choosy when it comes to disclosing personal information.
Identity thieves have used stolen personal data to access financial accounts,
run up charges on credit cards and apply for new loans. The IRS is aware of
several identity theft scams involving taxes. In one case, fraudsters sent
bank customers fictitious correspondence and IRS forms in an attempt to trick
them into disclosing their personal financial data. In another, abusive tax
preparers used clients’ Social Security numbers and other information to
file false tax returns without the clients’ knowledge. Sometimes scammers
pose as the IRS itself. Last year the IRS shut down a scheme in which
perpetrators used e-mail to announce to unsuspecting taxpayers that they were
“under audit” and could set matters right by divulging sensitive financial
information on an official-looking Web site. Taxpayers should note the IRS
does not use e-mail to contact them about issues related to their accounts. If
taxpayers have any doubt whether a contact from the IRS is authentic, they can
call 1-800-829-1040 to confirm it.
Abuse of Charitable Organizations and
Deductions.
The IRS has observed an increase in the use of tax-exempt organizations to
improperly shield income or assets from taxation. This can occur, for example,
when a taxpayer moves assets or income to a tax-exempt supporting organization
or donor-advised fund but maintains control over the assets or income, thereby
obtaining a tax deduction without transferring a commensurate benefit to
charity. A “contribution” of a historic facade easement to a tax-exempt
conservation organization is another example.
In many cases, local historic preservation laws
already prohibit alteration of the home’s facade, making the contributed
easement superfluous. Even if the facade could be altered, the deduction
claimed for the easement contribution may far exceed the easement’s impact
on the value of the property.
Offshore Transactions.
Despite a crackdown on the practice by the IRS and state tax agencies,
individuals continue to try to avoid U.S. taxes by illegally hiding income in
offshore bank and brokerage accounts or using offshore credit cards, wire
transfers, foreign trusts, employee leasing schemes, private annuities or life
insurance to do so. The IRS, along with the tax agencies of U.S. states and
possessions, continues to aggressively pursue taxpayers and promoters involved
in such abusive transactions.
Zero Return.
Promoters instruct taxpayers to enter all zeros on their federal income tax
filings. In a twist on this scheme, filers enter zero income, report their
withholding and then write “nunc pro tunc”–– Latin for “now for then”––on
the return.
Employment Tax Evasion.
The IRS has seen a number of illegal schemes that instruct employers not to
withhold federal income tax or other employment taxes from wages paid to their
employees. Such advice is based on an incorrect interpretation of Section 861
and other parts of the tax law and has been refuted in court. Recent cases
have resulted in criminal convictions, and the courts have issued injunctions
against more than a dozen persons ordering them to stop promoting the scheme.
Employer participants can also be held responsible for back payments of
employment taxes, plus penalties and interest. It is worth noting that
employees who have nothing withheld from their wages are still responsible for
payment of their personal taxes.
Other Scams Still Lingering
The IRS removed four scams from the Dirty Dozen this
year: slavery reparations, improper home-based businesses, the Americans with
Disabilities Act and EITC dependent sharing. The agency has noticed declines
in activity in some of these schemes. But taxpayers should remain wary because
the IRS has seen old scams resurface or evolve.
"The Dirty Dozen is a reminder that tax scams
can take many forms," IRS Commissioner Mark W. Everson said. "Don’t
be fooled by false promises peddled by scam artists. They’ll take your money
and leave you with a hefty tax bill."
Involvement with tax schemes can lead to imprisonment
and fines. The IRS routinely pursues and shuts down promoters of these scams.
But taxpayers should also remember that anyone pulled into these schemes can
face repayment of taxes plus interest and penalties.
"America's wackiest taxes," by Jeanne Sahadim and Les Crhristie,
CNN Money, February 22, 2005 --- http://money.cnn.com/2005/02/18/pf/taxes/strangetaxesupdate/index.htm
History is littered with odd tax schemes. William
Pitt the Younger introduced a tax on windows in Britain. Peter the Great taxed
souls, and Nero, urine.
Let no man say that we here in America cannot compete
for oddity of tax laws. We have some really weird assessments on the books.
In certain states and cities, you'll pay special
taxes for buying a deck of cards, possessing illegal drugs, and, possibly,
buying things from naked people.
Here are a dozen peculiar state and local taxes, as
noted by tax information publisher CCH Inc. and the Tax Foundation, a
nonprofit tax policy research group.
Illegal drug tax: On Jan. 1, Tennessee became
the latest of 23 states to institute a tax for possession of illegal drugs.
Usually, you have to be in possession of a minimum quantity, say over 42.5
grams of marijuana in North Carolina, to be subject to the tax.
In Tennessee, when you acquire an illegal drug (even
"moonshine"), you have 48 hours to report to the Department of
Revenue and pay your tax, in exchange for which you'll receive stamps to affix
to your illegal substance. The stamps serve as evidence you paid the tax on
the illegal product.
Don't worry that you might get in trouble for
admitting you have enough drugs to fuel a rave party for years. You need not
provide identification to get the stamps and it's illegal for revenue
employees to rat you out.
Still, next door in North Carolina, which has had a
similar law for 15 years, only 79 folks have voluntarily come forward since
1990, according to the Department of Revenue. Most were thought to be stamp
collectors, or perhaps just high. Another 72,000 were taxed after they were
already busted.
North Carolina has collected $78.3 million thus far,
almost all from those arrested and found without stamps.
Flush tax: In 2004, Maryland began charging
homeowners and businesses for producing wastewater. The funds will be used to
help protect Chesapeake Bay waters.
Maryland will add $2.50 a month to the sewer bills of
residents hooked up to treatment systems. It will also assess an annual charge
of $30 to homeowners with their own septic systems, even though many believe
these residents add little to the stream of pollutants that have damaged the
Chesapeake.
Virginia appears poised to enact a similar flush tax
of $1 a week per household.
Sex sales tax: Sin got pricier in Utah last
July, when owners of sexually explicit businesses where "nude or
partially nude individuals perform any service" began paying a 10 percent
sales and use tax on admission and user fees as well as the sales of
merchandise, food, drink, and services.
That would be on top of the 4.75 percent sales tax
the state already imposes on most transactions, sexually explicit or not. Not
that the measure will raise much money. So far only one or two businesses in
staid Utah are actually wild enough to be subjected to the tax.
Jock tax: This is a tax on income earned by
athletes, entertainers (OK, not just jocks), and their various entourages,
including non-athletic or non-performer employees. Generally, any money player
or performer earns while playing in that particular city or state gets taxed.
California levied the first jock tax in 1991, on
athletes from Chicago, right after the Chicago Bulls beat the L.A. Lakers.
(Chicago quickly responded in kind.) Today, most states with a professional
sports team impose a jock tax.
William Ahern, of the Tax Foundation, said a DC
United soccer player received tax forms from 10 different states. The player
was no Alex Rodriguez. "The guy makes $26,000 a year," says Ahearn.
"The jock taxes he owed varied from $200 to $2."
Sparkler and novelties tax: In West Virginia,
businesses selling sparklers and novelties pay a special fee on top of the
state's 6 percent sales tax. The novelties, according to the West Virginia
State Tax Department's information sheet on sparklers and novelties, include:
Explosive caps designed to be fired in toy pistols; snake and glow worms and;
trick noisemakers which produce a small report designed to surprise the user.
Playing card tax: If you want a deck of cards
in Alabama, be prepared to shell out an extra dime. The state government has
levied a 10-cent tax on the purchase of a playing deck that contains "no
more than 54 cards," plus the retailer must pay an annual license tax of
$3 and a fee of $1, according to the Alabama Department of Revenue.
Blueberry tax: Like fresh, wild blueberries?
If they come from Maine, you may be paying a bit of a premium. Anyone who
grows, purchases, sells, handles or processes the fruit in the state is
subject to a penny-and-a-half-per-pound tax.
Wagering tax: Speaking of cards – and bets
– most people know they have to pay tax on their gambling winnings. But some
places, including Pennsylvania, West Virginia, Illinois, and Oklahoma, exact a
wagering tax on casino or track owners, whether you gamble or not. It can get
passed onto customers through the cost of casino amusements.
Illinois forces casinos to charge a $2 admission
price, which is essentially a tax since it must be remitted to the city and
state.
Fur clothing tax: Keeping comfy during
Minnesota winters can cost you. Businesses in the state must pay a 6.5 percent
tax on the total amount received for the sale, shipping, and finance charges
associated with the purchase of clothing in which fur accounts for three times
more of the garment than the next most valuable material.
Most types of clothing in Minnesota are
sales-tax-free, so if you want to keep warm switch to "leather, suede, or
other animal skins where the hair, fleece or fur fiber is completely
removed," as the Minnesota Department of Revenue Fur Clothing Tax
instructions form puts it,
Fountain soda drink tax: This one hails from
Chicago. If you buy a "fountain soda drink," you'll pay a 9 percent
tax. If you buy the same soda in a bottle or a can, you'll only pay 3 percent.
Amusement tax: Ever wondered about the extra
tax you pay on stadium seats? That's the amusement tax, often levied at both
city and state levels. Most states, including Massachusetts, Virginia, and
Maryland, and cities like New Orleans, have amusement taxes on tickets sold at
any venue with more than 750 to 1,000 seats.
Amusing, isn't it?
Tattoo tax: As of last July, anyone in
Arkansas wanting to get a eagle etched on their abs or a nose ring notched in
their nostrils will have to pay an additional 6 percent, as the state included
tattooing and body piercing in its list of services subject to sales taxes.
Electrolysis treatments count, too.
Bob Jensen's threads on taxation are at http://www.trinity.edu/rjensen/bookbob1.htm#010304Taxation
Counseling Guide for
Chairs of Faculty Committees and College Administrators
Forwarded by Auntie Bev
- I've learned that you cannot make
someone love you.
All you can do is stalk them and hope they panic and give in.
- I've learned that one good turn gets
most of the blankets.
- I've learned that no matter how much
I care,
some people are just jackasses.
- I've learned that it takes years to
build up trust,
and it only takes suspicion, not proof, to destroy it.
- I've learned that whatever hits the
fan will not be evenly distributed.
- I've learned that you shouldn't
compare yourself to others
- they are more screwed up than you think.
- I've learned to not sweat the petty
things,
and not pet the sweaty things.
- I've learned that we are responsible
for what we do,
unless we are on faculty committees.
- I've learned that 99% of the time
when something isn't working in your house (especially on your computer),
one of your kids did it.
- I've learned that the people you
care most about in life are taken from you too soon and all the less
important ones just never go away.
- I've learned that the real pains in
the butts are permanent.
"Our Special Universe," by Charles Townes, The Wall Street Journal,
March 11, 2005; Page A10
What is the purpose or meaning of life? Or of our
universe? These are questions which should concern us all. As a scientist, I
have been primarily trying to understand our world -- theuniverse, including
humans -- what it is and how it works. As a religiously oriented person, I
also try to understand the purpose of our universe and human life, a primary
concern of religion. Of course, if the universe has a purpose, then its
structure, and how it works, must reflect this purpose. This obvious
relation brings science and religion together, and I believe the two are
much closer and more similar in nature than is usually recognized.
My study of the connection between science and
religion began when, back in the 1960s, the Men's Class of Riverside Church
in New York asked me to talk as a scientist about my view of religion --
perhaps because I was the only scientist they knew who regularly attended
church. The editor of IBM's THINK magazine happened to be in the audience
and shortly afterwards telephoned to ask if, of all things, he could publish
the talk in THINK. He did. I was again surprised when the editor of MIT's
alumni journal asked if he could also publish it. The latter resulted in a
serious objection on the part of an MIT alumnus, who would have nothing more
to do with MIT if such were ever done again.
I certainly agree that university journals should
not be used to sell religious views. On the other hand, I believe that
serious intellectual discussion of the possible meaning of our universe, or
the nature of religion and philosophical views of religion and science, need
to be openly and carefully discussed. In the intellectual world, we
shouldn't try to sell ideas, but we should be able to examine them freely. A
well-established scientist and philosopher was once asked to define the
"scientific method." Oh, he said, it is "to work like the devil to find the
answer, with no holds barred." I believe the same can be said of religion.
We use all of our human resources to understand either one -- instincts,
intuition, logic, evidence (experiences or observation), postulates or
faith, and even revelations.
We all recognize that science has produced
remarkable results. It allows us to do so many things and to think we
already understand so much. Science is indeed wonderful, and yet there are
still mysteries, puzzles and inconsistencies.
We are now convinced that the matter we can
identify in our universe is only about 5% of all that is there. What is the
rest of it? Scientists are trying hard to detect this strange unknown
matter. Will they, and when? Relativity and quantum mechanics have been
remarkably successful, and we believe they explain and teach us many things.
And yet, in certain ways they seem logically inconsistent. At present, we
simply accept such inconsistencies and use these two fields of science with
pride and pleasure.
The mathematician Gödel noted that to prove
something we must start with a set of postulates, but then demonstrated that
we can never prove the set of postulates are even self-consistent unless we
make a new overarching set of postulates which themselves cannot be proven
self-consistent. So, in science, too, we need faith -- or what we normally
call postulates. An extreme and somewhat amusing statement of our lack of
firm proof was that of Bishop Berkeley, for whom my town of Berkeley,
Calif., was named. He noted that we cannot absolutely prove that the people
and things we think we see are really there -- we may not be seeing them at
all but only have such things in our imagination. The bishop was perhaps
correct, but nevertheless we all believe those people and things we see are
real. The most basic of sciences, which is physics, has been increasingly
concentrating on problems which are pertinent to the interaction of our
ideas in science and religion, such as the origins of the universe,
cosmology, the nature of matter, and of the physical laws. This has recently
focused attention on what a special universe is ours, and the strikingly
special laws of science required for the existence of life.
Why does such an improbable universe exist? As we
try hard to learn and understand more, where will that take us, and how much
of our present sense of reality and meaning will be changed? I believe
physics provides an illustration of the possible nature of future changes.
Classical, or Newtonian, physics has been
remarkably successful, explaining and predicting many things very accurately
and convincingly. But, as scientists began to look closely at very small
things such as atoms and molecules, they were forced to modify their ideas
basically, and "quantum mechanics" was discovered. Quantum mechanics and
classical mechanics are philosophically very different, and the behavior of
atoms and molecules can only be understood by this radically different
quantum mechanics. But quantum mechanics must and does also apply to larger
objects such as planets, balls, or our own motions. Classical mechanics was
in principle quite wrong. But, it was a good approximation, explaining very
accurately the motions of everything much larger than atoms, such as
planets, balls, or ourselves. We still teach and use classical mechanics.
It's a very good approximation to reality and much simpler to understand
than quantum mechanics, even though philosophically incorrect.
As we understand more, will our views in science
and also in religion be revolutionized as science already has been by
quantum mechanics? My guess is yes. We must be open-minded and without
completely frozen ideas in either science or religion. But even with future
changes, I also guess that, like classical mechanics, our present
understanding may be a good and useful approximation even though new and
deeper views may be revolutionary. Overall, I believe we must try hard to
understand both how our universe works and what is its meaning as well as we
can, and for now, live by our best understanding. I hope very much that
humans will in the future understand more and more deeply, which can change
our views. And, just as classical mechanics still works well, I expect our
present ideas and principles will still have a useful and functional
validity.
Mr. Townes is a 1964 Nobel laureate in physics and
inventor of the laser. On March 9, he was awarded the 2005 Templeton prize
for his study of the relation between science and religion.
March 8, 2005 message from Dennis Beresford [dberesfo@TERRY.UGA.EDU]
The latest issue of the Journal of Accountancy
(page 16) has a brief item inviting readers to submit their "Top 10
Reason to Become a CPA." The results will be included in a special issue
of the Journal commemorating its 100th anniversary in October. The item
invites readers "to join in the celebration by submitting your own witty
observations on why it's great to be a CPA." The final list will be
"a fond look at some of the more lighthearted motivations for joining the
accounting profession."
I'd be willing to bet that the contributors to this
listserv could come up with some excellent suggestions for the "Top
10."
By the way, my main reason for becoming a CPA was
that I wanted a job where I could sit down most of the time after working my
way through school as a grocery store cashier for about eight years.
Denny Beresford
March 8, 2005 reply from Bob Jensen
And after working as a CPA, Denny eventually saw the
light. He then became professor so
he could have more time for golf --- right Denny?
By the way Denny is known as a colorful golfer (I mean literally in
terms of his fashion wear.)
I became a CPA because I wanted to work in a white
shirt in the tallest building in
Denver
. Alas!
My first audit (really) entailed wading through manure at the Monfort
cattle feed lots in
Greeley
. My senior on the job got to
count the cows. I had to try to
find an innovative way to measure bi-product after the "split."
Those are the things they don't teach in auditing courses.
Then I quickly became an educator but not because of
manure. I discovered E&E's tax season long hours were not conducive to my
real dream of being a ski bum (true story) --- http://www.trinity.edu/rjensen/academ01.wav
The rest of the story:
Getting married and becoming a father ended my dreams of being a ski
bum and, if you ever watched me ski, probably saved my life.
In truth, being tamed didn't exactly end my "dreams."
I now live vicariously through Bode Miller who lives with his family
within walking distance of where Erika and I retired in the
White Mountains
. Bode is
now the world's greatest Olympic racer and a truly fine young man (sigh) --- http://www.bodemillerusa.com/BodeMiller.html
Bob
Jensen
"The Adjunct Pay Gap," Inside Higher Ed, January 27, 2005
--- http://www.insidehighered.com/mla/the_adjunct_pay_gap
Among the study's findings, which are based on data
from the National Center for Education Statistics:
- Full-time, non-tenure-track faculty members earn
approximately 26 percent less per hour than do tenure-track assistant
professors.
- Part-time, non-tenure-track faculty members earn
approximately 64 percent less per hour from their institutions than do
tenure track assistant professors.
- Total earnings for part-time, non-tenure-track
faculty members are only 1 percent less than assistant professors because
so many of those part-timers hold down multiple jobs -- in and out of
academe.
- The median, full-time, tenure-track faculty member
is paid $8,424 per section taught, compared to $5,435 for full-time,
non-tenure-track, and $2,174 for part-time, non-tenure-track.
All of these figures underestimate the gap between
adjunct and tenure-track faculty members because these dollar totals are based
on salaries only. While the quality and expense of health insurance and other
benefits vary from campus to campus, many adjuncts have few or no benefits and
many full-time academics have extensive benefits.
"Proper Accounting Can Save Your E-Business Time and Money: A
real-life story of how one e-commerce business created an accounting mess,"
by Devin Comiskey, eCommerce Guide, March 10, 2005 --- http://ecommerce-guide.com/solutions/building/article.php/3489076
After a week's worth of accounting clean up and a few
lessons in QuickBooks, Carol was set up the way she should have been from the
very beginning. As long as she follows the correct bookkeeping practices, next
year all she'll have to do is present her accountant with a disk containing
her QuickBooks data file.
To help new e-commerce businesses start off on the
right foot, JT put together a list for budding entrepreneurs to follow before
building a web site and selling merchandise. These rules apply for any new
small business.
She said a new business needs to determine the
following when setting up a new business:
- Select a legal entity.
- Registering with the tax authorities (IRS, state
and local)
- Accounting (tax or accrual basis): "Who are
the users of the financials? Do they need to provide financials to any
financial institutions that lent them money? What questions do I need
answered to manage the business? Who will be keeping the books/posting
entries?"
- Payroll: "There are lots of requirements for
filing payroll taxes."
- Income taxes: "Proper forms; will estimates
need to be made?"
- Cash planning and forecasting: "You can save
a lot of tax dollars by properly planning ahead, and making certain
transactions by certain dates - i.e. contributing to a SEP."
- Internal controls - "Who is going to manage
cash? When you spend money, are you sure that you received the goods or
services? And, when you receive money, are you sure that the entry was
recorded properly?"
"I would definitely suggest that someone setting
up a business sit down with an accountant to set up their books (chart of
accounts/accounting method); and either hire a bookkeeper or take some basic
accounting classes to understand how to record transactions in your
financials," said JT. "It makes a lot more work for accountants,
because they basically have to recreate an entire year's worth of transactions
if those transactions have not been properly accounted for. They need to
remember that if they have proper financials, they can be used for a lot of
things — like planning and managing your business!"
Continued in article
Bob Jensen's helpers for small businesses are at http://www.trinity.edu/rjensen/bookbob1.htm#SmallBusiness
I think I can
safely say that nobody understands quantum
mechanics.
Richard P. Feynman
As I've quoted repeatedly.
"The physicists stole all the easy and glorious problems to
study." Even in quantum mechanics there is a bit of a problem
in that the process may change just because you are able to predict it. If
you factor in people (behavior) being studied it is likely to change big
time.
One goal of Quantum Economics and
Finance is to predict when market bubbles will form and then burst. But if
success is achieved in predicting them, human participants in the model are
likely to change their behavior. You're then back to square one but the
academic trip probably will have been delightful.
On the Academic (Chaotic) Edge:
Is Quantum Everything for real or just another passing academic fad?
Special Section on Quantum Physics, Quantum Economics, Quantum Finance, Quantum
Accounting, Quantum ...
First the Quotations to Spark Your
Interest: From a book I received without having ordered
A book arrived in my mail box in a black box with lettering "Top
Secret." I was somewhat apprehensive about even opening the
box. Inside was a paperback book and a velvet pouch full of chocolate
wafers individually wrapped in gold foil. Now I was curious and would've
never touched the chocolate until I looked more closely at the book When I
opened the book, I literally could not put it down. The following
quotations appear on the first page of
Thog's Guide to Quantum Economics: 50,000 Years of Accounting
Basics for the Future
by Mike
Brown, Zoe-Vonna
Palmrose, Warren
Miller (Illustrator) ($12.81 on Amazon)
Mike and Zoe-Vonna both worked for Deloitte and Touche before Mike became
President of NASDAQ and Zoe Vonna became a well-known accountancy professor and
capital markets researcher at the University of Southern California.
THOG'S GUIDE
50,000 YEARS OF ACCOUNTING BASICS
FOR THE FUTURE
"After
being an accounting educator for over thirty years, I now have a whole new
perspective from Thog's Guide. It is a must read for any serious
accounting student, faculty, practitioner, or regulator."
--Michael Diamond, Vice President
and Executive Vice Provost, University of Southern California
"An
engaging and entertaining book - a philosophical and historical exploration of
why accounting is central to any society based on commerce. Thog's
Guide offers a glimpse of current work aimed to reformulate economics on
the basis of ideas from physics and biology - and all through the eyes of a
charming family of hunter-gatherer-accountants. I never had so much
unexpected fun nor learned so much from a book about a subject I didn't even
know I was interested in."
--Lee Smolin, Perimeter Institute
for Theoretical Physics
"Physics
has Brownian motion and now economics has Brownian accounting, as a family of
hunter-gatherers teaches a team of real complexity scientists the importance
of back to basics accounting in economic modeling. Thog's Guide
is a light-hearted read, but it promises a serious breakthrough - the ability
to test the consequences of our financial and accounting regulations in
virtual reality before trying them out on you and me."
--Alfred R. Berkeley, Former
President and Vice-Chairman of NASDAQ, Chairman and CEO, Pipeline Trading
Jensen Commentary on Fashion Fads in
Academic Accounting
On the Academic (Chaotic) Edge: Is Quantum Everything for real or just
another passing academic fad?
Special Section on Quantum Physics, Quantum Economics, Quantum Finance, Quantum
Accounting, Quantum ...
First let me say that this book is very
well written as long as you are not interested in getting into too much
technicality. And the various experts who write or appear in the book are
for real and very well known. It is an inexpensive good read that I highly
recommend. I could not put it down last night.
From the academic side of the world,
let me say that Chaos Theory is definitely on the leading edge in the hard
sciences and in some social sciences, particularly economics. It is a
valiant effort by some very smart scientists attempting to put more order into a
very confusing chaotic world that is not in stationary state much or all of the
time.
I received my PhD in 1966 and have been
in the academy either as a faculty member or in think tanks since becoming a
card carrying member. This was an era when higher education in business
was trying to attain more academic respect. The drive was to put
mathematics and science into business research. Some of the efforts in the
next couple of decades were at best trivial and at worst silly. Although my doctoral degree is in accounting (I was
a CPA when I went to Stanford), most of five full-time years was spent in
operations research and economics since the accounting program didn't quite know
what to do with me. I became an evangelist for equations and was fortunate
that I graduated in an era of business research where almost anything with an
equation in it could get published in a leading journal.
After about ten years, while I was
actually teaching things like nonlinear programming, I became disenchanted with
what I was seeing as fads in academia that put in the words of economics and
business but made little contribution to the world (professions) of economics
and business. My best example is the short academic wave of
accounting/business research rooted in Information
and Entropy Theory as envisioned by Bell
Labs scientist Claude
Shannon. After seeing a bubble of accounting research using this
theory, I delved into Shannon's work. It became obvious, at least to me,
that business and information could just not be reduced to logarithms to base
2. The fad rose and then fell in academic accounting and never got off the
ground in the accounting profession even though this is still important theory
in communications and computer science.
Then there were years of academic
accounting research effort in applying Bayesian
probability theory. The research itself was most interesting and
excited us and our students. Interest has not yet died off on this one,
but there was a lot more hype than hope in the academic output rooted in
Bayesian probability. One still sees a paper, usually at research
conferences, with the term Bayesian in the title, but for the most part interest
in Bayesian accountancy has waned. Has there been any value added to the
profession of accountancy itself?
Then one of my own doctoral professors,
Yuji Ijiri, developed the Momentum Theory of Accounting with a series of papers
and one of the best selling Accounting Research Study monographs of the American
Accounting Association --- See Volume 18 at http://aaahq.org/market/display.cfm?catID=5
This became the focal point of much academic interest and enthusiasm. But
the world just wasn't amenable to triple-entry bookkeeping as envisioned by
Ijiri and academic interest waned. Has there been any value added to the
profession of accountancy itself?
Time series models became a great fad
in accounting research but died down somewhat, not completely, due to
frustrations of fitting models into processes that were seldom stationary.
Much of my own research and writing was
devoted to another fad called the Analytical
Hierarchy Process where I wrote over 20 papers, most of which got published
and got me research leaves as far away as Canada. AHP is still active in
some corners of academe and even business management. But academic
interest waned. Has there been any value added to the profession of
accountancy itself?
There have been many other academic
research fads that never did add noteworthy value to the profession and were not
sustained over the years of academic inquiry. This leads me to now view
Quantum Everything with suspicion. It is trite to say the world is
exceedingly complex. It is also stupid to discourage efforts to model some
or all of its great complexities. And I most certainly am growing old and
perhaps more cynical with each year that now passes. But I have to say
that my view of Quantum Everything is that it will be a passing fad in
accountancy and economics even though it may have sustaining value in
mathematics and the hard sciences just like information defined in terms of
logarithms to the base 2 have sustaining value in communication theory and
computer science.
But far be it from me to completely
discourage new fashion. I suggest that you read Thog's Guide and
take it where you may. It is fun and richly rewarding to be an academic
researcher in a world that loves its passing fads. Fortunately we are
never judged on whether our research adds value to the profession itself.
We live in the world of models that are increasingly computerized and complex
but are, nevertheless, still models that leave out most of the important
variables and complicated structures.
As I've quoted repeatedly.
"The physicists stole all the easy and glorious problems to
study." Even in quantum mechanics there is a bit of a problem
in that the process may change just because you are able to predict it. If
you factor in people (behavior) being studied it is likely to change big
time.
One goal of Quantum Economics and
Finance is to predict when market bubbles will form and then burst. But if
success is achieved in predicting them, human participants in the model are
likely to change their behavior. You're then back to square one but the
academic trip probably will have been delightful.
From the Scout Report on March
10, 2005
BBC: Science &
Nature: Human Body and Mind-Interactive Body [Macromedia Flash Reader] http://www.bbc.co.uk/science/humanbody/body/interactives/3djigsaw_02/
The BBC is well
regarded around the world for its fine news reporting and in recent years,
equally well known for its educational websites. This very fine interactive
website produced as part of the network's online Science & Nature site
allows visitors to explore the human body through a series of interactive
activities. Visitors can select the gender of the body they wish to view and
then proceed to look through the organs, muscles, skeleton, and nervous system
of each human body. The interactive part is really the best facet of the site,
as users can choose each organ, learn about its various functions and
properties, and then drag the organ onto the correct location within the human
body. Visitors can continue by moving on to correctly place the muscles and
elements of the nervous system within the body. Overall, this is a fine
pedagogical tool and rather elegant in its user interface structure.
Russia Profile
http://www.russiaprofile.org/index.wbp
The availability of
high-quality news reporting on the Internet continues to improve, though at
times finding reputable sources can still be difficult for certain parts of
the world. Russia Profile is one such source, as it is produced by the
Independent Media group, which is responsible for publishing The Moscow Times
along with a number of other magazines across Russia. The goal of this website
is to both broaden the scope of news coming out of Russia and "to provide
a platform for an informed discussion of issues related to or concerning
Russia". From the site's homepage, visitors can read about the latest
from Russia Profile, view a calendar of events, and subscribe for free to the
print edition of Russia Profile. Visitors can also participate in a number of
online forum discussions.
The Ten O'Clock
News [QuickTime] http://main.wgbh.org/ton/
While it is
relatively easy to find old sitcoms and variety programs in a variety of media
formats, it is somewhat difficult to find news broadcasts that may be of
seminal interest to any number of researchers, including historians or other
social scientists. Working with funds provided by the Institute of Museum and
Library Services, this collection created by the WGBH Media Archives and
Preservation Center includes video clips of these original newscasts which
date from 1974 to 1991. The collection focuses on news stories which relate
directly to Boston's African-American community and may be browsed by
categories such as personal name or geographic location. Some of the topics
covered by these video clips include the desegregation of the Boston public
school system, race relations in the city, and interviews with such notable
African-American leaders as Julian Bond and Andrew Young.
EasyOffice+PDF
Filter 8.0 http://www.e-press.com/downloads/freeware.html
This free version of
EasyOffice is an office suite package that is compatible with Microsoft Word,
Excel, and Adobe pdf files. Some of the programs include a dictionary, a
notepad, a calculator, an image editor, and a diagram creation device.
Additionally, EasyOffice is available in a host of different languages,
including Turkish, Spanish, Chinese, and German. This version of EasyOffice is
compatible only with Microsoft Windows 98 or newer.
From the Scout Report on March 17, 2005
Landmark Supreme Court Cases http://www.landmarkcases.org/
There is always a great demand for educational
materials regarding the most important US Supreme Court Cases and this website
is an outgrowth of that sustained interest. Developed by Street Law and the
Supreme Court Historical Society, this website was developed in order to
provide teachers with a full range of resources and activities regarding such
cases. The general teaching strategies offered here include political cartoon
analysis, moot court, continuum exercises, and website evaluation. Some of the
cases covered here include Mapp v. Ohio, Gideon v. Wainwright, and Miranda v.
Arizona. The site also offers some detailed explanations of important related
concepts, such as federalism, national supremacy, and judicial review.
Additional, the site provides background summaries of each case and pertinent
discussion questions for a variety of reading levels and abilities.
International Institute for Environment and
Development [pdf] http://www.iied.org/index.html
The question of sustainable development is one that
has garnered significant attention during the past few years, and there are a
number of organizations doing work around the globe to promulgate these
principles. The International Institute for Environment and Development (IIED)
is one such organization, and it has been working in this field since 1971. As
the mission statement on its site indicates, the Institute seeks "to
promote sustainable patterns of world development through collaborative
research, policy studies, networking and knowledge dissemination." The
homepage is a great place to start, as visitors can quickly delve into the
latest reports and newsletters. Also, a dropdown menu titled "IIED
Research" allows visitors access into its work in such areas as human
settlements and sustainable agriculture. Finally, visitors can read seventeen
issues of the IIED journal, _Environment and Urbanization_, (dating from 1995
to 2002) at no charge.
University of California-Los Angeles: Online Archive
of American Folk Medicine http://www.folkmed.ucla.edu/
The Archive of American Folk Medicine is the result
of more than 50 years of work by UCLA-associated folklorists who
"documented beliefs and practices relating to folk medicine and
alternative healthcare. In order to make the data more readily available to
the worldwide community of researchers and medical practitioners, the Online
Archive of American Folk Medicine was established in 1996 under the direction
of Dr. Michael Owen Jones, a professor of folklore and history at UCLA."
The Archive draws from over 3,200 published works, and is intended to serve
folklorists, sociologists, and historians. The website provides basic and
advanced search options; and records include brief entries for Citation,
Condition, Belief, Method of Treatment, and more. Users should be aware that
the Archive website has not been updated in several years but it remains a
valuable resource for researchers and others interested in folk medicine. This
site is also reviewed in the March 18, 2005 _NSDL Life Sciences Report_
Historic Scotland http://www.historic-scotland.gov.uk/
Scotland is well-known for its efforts to preserve
its fantastic range of historic sites, buildings, and monuments and much of
this work happens under the auspices of Historic Scotland. Historic Scotland
is an agency with the Scottish Executive Education Department and as such, is
largely responsible for developing long-range plans for the preservation of
the built heritage of the country. To get a sense of the broad range of
properties within Historic Scotland, visitors would do well to look through
the interactive map of Scotland offered within the "Places to Visit"
area. Those persons with a penchant for historic preservation and planning
will also want to take a look at the organization's long-range preservation
program and some of its free online publications such as "Archaeological
Information and Advice in Scotland" and "Conserving the Underwater
Heritage".
MultiGrabber 3.34 http://www.mulgra.com/smartgrabber.php
These days websites usually have a number of
compelling multimedia files embedded within their pages, and some of them may
be worth downloading to view at a later date. This trial version of
MultiGrabber 3.34 is an application that will let users do just that, as it
can be used to save pictures, cascaded style sheets, Macromedia Flash movies,
and RealPlayer movies. This 30-day trial version of MultiGrabber is compatible
with Windows 98 or higher.
"How Banks Pretty Up The Profit Picture: Playing with
loan-loss reserves can produce deceiving earnings," Business Week,
February 21, 2005 --- http://yahoo.businessweek.com/magazine/content/05_08/b3921110_mz020.htm
Last year the banks had an easy way to juice their
profits. All they had to do was allocate a little less money to loan-loss
reserves -- the money they set aside to cover bad debt. As the economy has
improved and defaults have slowed, many decided they didn't need as much in
reserve as they did in 2003, and presto, their earnings per share would rise a
few cents.
But investors who assume the profits are humming and
decide to buy bank stocks could be in for a shock. In 2005 many banks won't
have this profit source. Some have already pared loan-loss reserves as much as
they reasonably can, analysts say. "A lot of banks may do this from time
to time to meet estimates," says Brian Shullaw, senior research analyst
at SNL Financial in Charlottesville, Va.
The trouble with whittling away the reserves is that
as banks write more loans, they will have to replenish the reserves. Plus, if
credit conditions worsen as economic growth slows and interest rates rise,
they will need to set aside even more, eating further into profits.
Do a little digging, and the current numbers don't
look so great. Detroit's Comerica Inc. (CMA ) had one of the largest drops in
its loan-loss reserves relative to total assets, according to a study of large
banks' fourth-quarter earnings done by SNL for BusinessWeek. Not only did
Comerica fail to add money in the fourth quarter, it also extracted $21
million from the pot. That gave it an extra $98 million in income, or 57 cents
a share, that it didn't have last year. The bank beat analysts' earnings
estimates by 10 cents. Comerica Chief Credit Officer Dale Greene says muted
loan growth, coupled with major improvement in credit quality, justify the
move.
Others, such as Citigroup (C ), garnered a few extra
cents from replenishing reserves by a smaller amount than before. But it was
enough to help them beat analysts' earnings estimates by a penny or two. Citi
Chief Financial Officer Sallie L. Krawcheck said in a Jan. 20 conference call
that the reserving process was done in mid-quarter based on a mathematical
formula. She noted: "We as a company work very hard to systematize the
process around rigorous analytics."
Of course, banks can't just shift funds around
willy-nilly. Accounting rules dictate that they have to justify decreases in
loan-loss allowances, for example by citing substantial improvement in credit
trends. This past quarter, a bevy of bank earnings releases cited fewer
nonperforming loans, improving asset quality, and a stronger underlying global
economy as reasons for smaller loan-loss provisions. Bill Lewis, leader of the
U.S. banking practice at PricewaterhouseCoopers, notes that subjectivity is
often involved, but "most banks, in light of heightened regulatory
scrutiny, are more precise in their estimation methodologies today than they
have been in the past."
Maybe so, but even if the decreases in reserves are
perfectly justifiable, there are still problems with this common industry
practice. Besides cutting reserves to the core, banks "are increasing the
cyclicality of earnings," says Richard Bove, a banking analyst at Punk,
Ziegel & Co. "When bad times come, you know they are going to be
increasing the size of the reserves." Already, Citi's Krawcheck has
warned analysts not to expect substantial reductions in provisions in the
future.
Continued in the article
Bob Jensen's threads on banking misdeeds are at http://www.trinity.edu/rjensen/fraudrotten.htm
Say what? Do all presidents of
Harvard University think alike?
More than 30 years before Harvard University President
Lawrence H. Summers suggested that innate differences may keep women out of
science and engineering, Harvard took a stand on women's affinity for science --
and helped limit the scope of a key civil-rights law. In a 1971 letter to
a congressman, a spokesman for new Harvard President Derek C. Bok argued that
accepting more female undergraduates at Harvard University "might
underutilize our science faculties and require expensive additions to our
faculty and staff in already crowded departments in the humanities and social
sciences."
Karne Blumenthal, "How Harvard Helped Curb Title IX's Role In Admitting
Women, The Wall Street Journal, March 2, 2005; Page B1 --- http://online.wsj.com/article/0,,SB110972681148867821,00.html?mod=todays_us_marketplace
Jensen Comment: I guess we can almost hope that success in future recruiting
will result in even more expensive additions to science facilities.
March 2 reply from McCarthy, William [mccarthy@BUS.MSU.EDU]
I
am not sure why everything that Harvard does (grading, treatment of women
professors and students, meaningless classes, and who knows what else in the
future) becomes a cause for criticism on AECM, but I think we need a little
more balance here. From the father of a current Harvard MBA student:
- The
grading system at HBS is ruthlessly uniform. Grades of 1-2-3 (plus
some downside outliers I suspect) are assigned on something like a
15-70-15 distribution (my percentages might be off a little). This
is hardly inflationary, and in fact, I am sure that it is better at
keeping grades properly aligned than the majority of business schools
nationwide. Hardly the image portrayed on AECM.
- My
daughter has experienced 3-4 superlative women professors who are among
her most inspirational, most enthusiastic, and most knowledgeable
teachers. When she graduates, I am sure that some of these ladies
will be her role models and advisors for her professional life.
Again, hardly the image portrayed on AECM.
- The
classes are certainly not meaningless. On the contrary, based on my
conversations with her 2-3 times a week, I would describe them as
electric. I have won multiple teaching awards at the department and
school level at MSU, but I was very envious on the two occasions where I
attended her classes, because I could see places where I can do so much
better. The classes had 90 superbly-prepared students having
wide-ranging discussions on difficult and interesting topics. The
discussions were wonderfully orchestrated by two very good teachers, and
it felt like 15-20 people instead of ninety. Every school has some
teaching clunkers, but they are very hard to find at HBS. Again,
hardly the image portrayed on AECM.
If
we insist on being negative on the list, isn’t it about time to start
picking on somebody else?
March
2, 3005 reply from Bob Jensen
Hi
Bill,
My wife's in New Hampshire and I'm in
Texas. I'm a loose cannon with too much free time. Many AECMers are eagerly
looking forward to Erika's visit to Texas in March so that they can take a
"Jensen Break."
I congratulate your daughter on being
admitted to Harvard. That's the hardest part of the entire process. You have
to be good just to get in.
Interestingly enough, in the Ivy
League schools the biggest complaint about grade inflation is coming from the
very best of the entire set of students admitted. With such a huge proportion
getting A grades, there's no recognition of the best among the best. For
example, how can a law school even consider grades if all the applicants have
4.0 grade averages?
Some schools react to the complaints
of the best students. Some years back when Jim Van Horne was Associate Dean of
the GSB at Stanford, he imposed what then became known as the Van Horne Cap of
15% A grades (I don't think they had A+ grades in those days). I don't know
that such a cap exists anymore, but the point is that Jim told me the pressure
was coming most from the very best students in the GSB. They're the ones who
desperately wanted the job offers from the most elite consulting firms in the
world and felt that Stanford was not giving them a chance to stand out from
the crowd.
I found the syllabus
of another Jim (Wachowicz). It is interesting in and of itself to
read. But in particular, I noted that this Jim is allowed to assign an
A+ grade. I think that should be allowed in every college. My own
school does not allow me to do this, and in the graduate school students must
have 3.0 to even be allowed to graduate. Giving a graduate student a C
might result in my having prevented him or her from graduation, which is
especially stressful in three days before graduation when the cap and gown is
ordered and parents are already in the hotel.
There's also a motivational factor.
I'm absolutely certain that the very best of the A students will work much
harder if only a small proportion of them might have a chance for an A+. Some
faculty, not me, argue that it is immoral to motivate students with grades.
See Alfie Kohn's citation at http://www.trinity.edu/rjensen/assess.htm#GradeInflation
I
think the time has come to let up on Harvard.
Since
I’m the worst offender, I apologize Bill. I
will refrain from future posts on this issue, at least in terms of singling
out Harvard. I admit to being on
a campaign against grade inflation and especially the teaching evaluations
that drive a great deal of that inflation. I
cite Harvard mainly because the world has picked more on Harvard with respect
to grade inflation. There is much
more literature to cite about Harvard’s grading.
But I will try to avoid singling out Harvard in my AECM communications.
Harvard apparently banned its old 1-15 scale in favor of what you call
the
1-2-3
scale.
I
do have one question about where you got your 15-70-15 numbers?
My most recent numbers are 49-41-10 ignoring the outliers.
Some 2001 versus 1985 data given by NPR are as follows:
All
Things Considered,
November
21, 2001
·
Student's grades at
Harvard
University
have
soared in the last 10 years. According to a report issued Tuesday by the dean
of undergraduate education, nearly half of the grades issued last year were
A's or A-minuses. In 1985, just a third of the grades were A
or A-minus. Linda Wertheimer talks with Susan Pedersen, Dean of Undergraduate
Education and a Professor of History at Harvard University, about grade
inflation.
Harvard Grade Inflation, National Public Radio --- http://www.npr.org/templates/story/story.php?storyId=1133702
You
can also listen to the NPR radio broadcast about this at the above link.
Bob Jensen's thread on
grade inflation are at http://www.trinity.edu/rjensen/assess.htm#GradeInflation
March 4, 2005 message from Groomer, S. Michael [groomer@indiana.edu]
Hi Bob.
Question -- Are you aware of any courses being
conducted that deal specifically with ethics implications for
accountants/auditors. One of my Business Law colleagues ask me this question.
Best I know, most of this kind of work occurs in UG Auditing or in a Master's
level auditing course.
Hope all is well with you. Mike
Mike Groomer, Ph.D, CPA, CISA, CITP
Professor of Accounting and Information Systems
Kelley School of Business Indiana University
1309 East 10th Street Bloomington, IN 47405-1701
March 5, 2005 answer from Bob Jensen
A
lot depends upon what you mean by “courses.”
Courses can range from videos to CPE training to college course modules
to college courses on ethics in auditing to onsite training courses.
For
reactions of accounting education to the implosion of Andersen, I suggest
beginning with the following modules:
Bob Jensen's threads on ethics and accounting education are at
http://www.trinity.edu/rjensen/FraudProposedReforms.htm#AccountingEducation
The Saga of Auditor Professionalism and
Independence
---
http://www.trinity.edu/rjensen/fraud001.htm#Professionalism
Incompetent and Corrupt Audits are Routine ---
http://www.trinity.edu/rjensen/FraudConclusion.htm#IncompetentAudits
Future of Auditing --- http://www.trinity.edu/rjensen/FraudConclusion.htm#FutureOfAuditing
See
the Dean of Wharton speak out on ethics --- http://www.globalagendamagazine.com/2005/patrickharker.asp
Wharton
has probably done as much or more than any school on adding ethics modules ---
http://www.wharton.upenn.edu/undergrad/topschools.html
Here
are a few other suggestions for your friend:
For
college courses enter “Ethics in Auditing” in the second box and
“University” in the top box (don’t use quotation marks) and see the many
links of interest that emerge from http://www.google.com/advanced_search?hl=en
Since
the implosion of Enron, the
Institute
of
Internal Auditors
has changed its
offerings on ethics training --- http://www.theiia.org/index.cfm?doc_id=883
Although
the courses don’t necessarily deal with auditing per se, I always suggest
visiting http://www.cfenet.com/splash/
These
is a great deal on changed relationships between auditors and audit
committees:
AICPA Video Courses --- https://www.cpa2biz.com/Stores/cpevideocourses.htm
Audit
Committee Responsibilities After Sarbanes-Oxley
VHS/Manual or DVD/Manual — Sample video clip available
Fraud
and the Financial Statement Audit: Auditor Responsibilities Under New SAS
VHS/Manual or DVD/Manual — Sample video clip available
CPE
(sometimes auditing is only a module of the course)
http://www.passonline.com/default.aspx
http://www.affiliateprofit.net/accounting/8/ethics-in-accounting.html
Outside
Accounting
March 11, 2005 message
from Ronald Kucic [rkucic@DU.EDU]
We are considering
dropping the use of the GMAT as a requirement for admissions to our 3/2
Master's of Accountancy program. We would replace the exam with a rigorous
interview with a School of Accountancy appointed admissions committee that
would consist of a cross-section of School of Accountancy faculty, College
admissions staff, and possibly alumni.
I know that BYU no
longer uses the GMAT as part of its 3/2 admissions process. Are there other
schools of which people on this list are aware that no longer use the GMAT for
admission to 3/2 accountancy programs? Unless there are others on the list who
are interested in this topic, those who do know of such schools can respond to
me privately at rkucic@du.edu.
Thank you for your
assistance.
Regards,
A. Ronald
Kucic,
Director School of Accountancy
Daniels College of Business
University of Denver
2101 S. University Blvd. #355
Denver, CO 80208
March 2, 2005 question from a student
Dr. Jensen,
What is the difference between a "forward
contract" that qualifies as a derivative and a generic agreement to
purchase something at a set price at a set rate at a set time? I thought the
only requirements to be derivatives were 1) nominal 2) underlying and 3) a
market mechanism that could net settle for cash. The reason I ask is because
at SBC we have some contracts to pay a certain price for electricity in the
future and I was under the impression that they qualified for derivative
status because they fit into the aforementioned 3 categories. We have agreed
to buy a certain number at a certain price at a given point in the future. Are
those not necessarily foward contracts? Your email to Ms. Walsh seemed to
suggest that her situation (which sounds very similar to this) might not count
as a derivative. I ask because we were trying to decide whether to disclose
the agreement in the financials. Also, does materiality factor into whether
you have to disclose derivatives or is it a special case?
Thanks,
Andrew
March 3, 2005 reply from Bob Jensen
Hi
Andrew,
The
main difference lies in the “net settlement” requirement for a derivative.
If I have a forward contract net settles for cash then it’s a
derivative. If you must take
delivery of the notional amount of commodity (or principal in the case of a
bond), then it does not meet the test to be a derivative scoped into FAS 133.
Purchased options never have this problem, because an option can never
force delivery. Written options
almost always net settle, but OTC options might be written to not allow net
settlement.
There
is a gray zone where FAS 133 says that it might be a derivative if the
notional can be “readily converted into cash.”
Presumably this means that the conversion does not require that you
actually take delivery of 25,000 bu. of corn on
your front lawn. You might be a
broker who simply takes delivery on paper and then immediately transfers that
delivery to some party that actually wants big loads of corn.
Your
electricity example is interesting because it relates to a huge debate that
power companies had over “bookouts.”
At first the FASB took a hard stand that bookout
clauses in contracts made them derivatives scoped into FAS 133. Then
it took up the matter once again but did not settle it completely. This
was widely and vocally complained about in the power industry. Eventually
FAS 138 made some NPNS accommodation. Look
up the terms “bookout” and “Normal Purchase
Normal Sale” at http://www.trinity.edu/rjensen/acct5341/speakers/133glosf.htm
I’m
going to share your message with the class, because it is a very interesting
question. I like questions like
this. It means you are thinking.
For the mid-term examination, I want students to study the term NPNS
and to understand, in theory, why firms strive to achieve NPNS status.
Dr
J
Put up or call up --- know the difference between buying an option versus
writing an option
When students don’t quite understand why
investors like to write options, you might show them this article.
You might then guide them to the special rules of accounting for written
options after you carefully explain the risks of going naked
"Investment Options," by Justin Lahart, The Wall Street Journal,
March 3, 2005; Page C1 --- http://online.wsj.com/article/0,,SB110979345697268538,00.html?mod=todays_us_money_and_investing
Complaints along the lines of "there aren't many
good investments anymore" have become as common as dirt.
High stock valuations, low long-term interest rates
and small differentials in yields between corporate bonds and Treasurys: These
are symptoms of a world where too much money is chasing too few ideas, and
where investors' desperation to eke out a return has overtaken their desire to
avoid risk.
A prime example of this complacency about risk comes
from the options arena. Many investors use stock options, which grant the
right to buy (in the case of a call) or sell (a put) a security at a set
price, as insurance against a volatile market. The more worried they are, the
more the insurance costs. These days that insurance costs very little -- the
CBOE Market Volatility Index, which is based on the prices investors are
paying for options on the Standard & Poor's 500-stock index, has been
steadily falling.
What's more, many are selling options cheaply as a
way to augment returns. An investor who owns Microsoft stock, but doesn't
expect the shares to advance by much over the next few months, could sell
options that give buyers the right to purchase Microsoft for $30 (versus
yesterday's $25.26) by June. If Microsoft isn't over $30 on the expiration
day, the options expire worthless and the investor has pocketed the money he
got from selling the option.
But investors aren't just selling options that expire
in the next few months cheaply. In their eagerness for income right now, they
are selling options that don't expire for nearly two years for far too little,
says Whitney Tilson of the hedge fund T2 Partners. This, he thinks, creates a
big opportunity.
A call option giving the right to buy Anheuser-Busch
for $50 a share in January 2007 costs $3.50. Shares of the brewer closed
yesterday at $47.58. If they advance beyond $53.50 -- $50 plus the price of
the option -- in just under two years, the option will pay off. At $54, the
option pays off 14%; at $55, it pays off 43%.
For value-minded investors, these options represent a
better alternative than buying shares of the company, says Mr. Tilson. His
strategy: Buy long-dated call options in Anheuser-Busch and other companies
with proven track records, but because the options give such an outsize return
if all goes well, invest much less money than he would if he were buying the
underlying stock.
"We obviously expect the stock to do well, but
if we're wrong, we've tied up very little capital," Mr. Tilson says.
There are special accounting rules for written options as
opposed to purchased options. Scroll down to the phrase "Written
Option" at http://www.trinity.edu/rjensen/acct5341/speakers/133glosf.htm#W-Terms
Moral Philosophy
March 1, 2005 message from
Jagdish Gangolly [JGangolly@UAMAIL.ALBANY.EDU]
Why use second hand
stuff?
I would go to the
originals, most of which are FREE.
Some examples:
1. Nicomachean
Ethics, By Aristotle, Translated by W. D. Ross http://classics.mit.edu/Aristotle/nicomachaen.html
(Ross translation is
the best I have read; always on my bookshelf, one of my precious possessions)
2. Eudemian
Ethics, Books I, II, and VIII (Second Edition), Aristotle Edited and
translated with a commentary by Michael Woods http://www.oup.com/us/catalog/general/subject/Philosophy/History/Ancient/?ci
=0198240201&view=usa
(Much neglected work,
among his earliest works.
1 and 2 were really
Aristotle's lecture notes;
makes me wonder to
what lows we have sunk). Not free
3.a. History of the
Peloponnesian War (Great Minds Series)
by Thucydides,
Benjamin Jowett --- http://snipurl.com/PeloponisianWar
(If I were to be
banished to a lonely island and I was allowed to take just one book, this
would be it). Not free, but I would pay its weight in gold if I had to. One of
my most precious possessions.
3.b. The
History of the Peloponnesian War, Translated by Richard Crawley http://classics.mit.edu/Thucydides/pelopwar.html
Free, but I would pay
a hefty price for the Jowett translation.
4. Any Jowett
translation of Plato (even after all these years, I read them whenenever I
can). Jowett translations are my favourite. Even today I could not improve
them by virtually changing even a single word) Free. One of my most precious
possessions. http://classics.mit.edu/Browse/browse-Plato.html
5. THE CRITIQUE
OF PRACTICAL REASON, by Immanuel Kant http://eserver.org/philosophy/kant/critique-of-practical-reaso.txt
A lesser known
sibling of 'Critique of Pure Reason'. I read it again and again from time to
time.
I also would use
Sophocles's trilogy. Also Dickens, Rousseau's 'Emile',... The important thing
is not to make an ethics course in the image of a run-of-the-mill Intermediate
Financial Accounting course. It puts tremendous burden on the instructor, but
I can not even conceive of a better way to spend a semester.
I know it is a tall
order these days asking students to read works of all these "dead white
men". But it will be their loss (and as academics, our loss) if they
don't. It is irrelevant whether one is studying to be an accountant, a farmer,
rocket scientist, or a brain surgeon. It is reading works like these that make
one a better human being.
Respectfully
submitted,
Jagdish
Jagdish S.
Gangolly, Associate Professor
School of Business & NY State Center for Information Forensics &
Assurance
State University of New York at Albany BA 365C, 1400 Washington Avenue,
Albany, NY 12222
email: j.gangolly@albany.edu
March 1, 2005 reply from Bob Jensen
You might check out
the Picola Project as a potential model for applying for grants and helping
accountants around the world. This model would be great if it were
extended beyond communities and into accountancy --- http://communityconnections.heinz.cmu.edu/picola/index.html
When
it comes to the academic side of ethics, I always say begin with CMU
philosophy professor Robert Cavelier.
He shares some course references at http://caae.phil.cmu.edu/CAAE/webmats.htm
Some of his fantastic course materials are linked on the left side of the page
at http://caae.phil.cmu.edu/Cavalier/80130/
Part I History of Ethics
Preface: The
Life of Socrates
Section 1:
Greek Moral Philosophy
Section 2: Hellenistic
and Roman Ethics
Section 3:
Early Christian Ethics
Section 4: Modern
Moral Philosophy
Section 5: 20th
Century Analytic Moral Philosophy
Part II Concepts and Problems
Preface: Meta-ethics,
Normative Ethics and Applied Ethics
Section 1:
Ethical Relativism
Section 2: Ethical
Egoism
Section 3:
Utilitarian Theories
Section 4: Deontological
Theories
Section 5: Virtue
Ethics
Section 6: Liberal
Rights and Communitarian Theories
Section 7: Ethics
of Care
Section 8: Case-based
Moral Reasoning
Section 9: Moral
Pluralism
Part III Applied Ethics
Preface: The
Field of Applied Ethics
Section 1:
The Topic of Euthanasia
Multimedia Module: A
Right to Die? The Dax Cowart Case
Section 2:
The Topic of Abortion
Multimedia Module: The
Issue of Abortion in America
Postscript: Conflict
Resolution
Note
that his update materials appear to be buried in a CMU Blackboard server.
I suspect Dr. Cavelier would share the updates if it was for a good
cause.
March 1, 2005 message from Glen L Gray [glen.gray@CSUN.EDU]
When did the Internet start being called
the "Internet?" I know what we now call the Internet was created in
1969, but was it called the Internet then? I believe it was first called ARPANet,
reflecting the funding agency. NSFNet was used to reflect the subsequent NSF
funding.
Glen L. Gray, PhD, CPA
Accounting & Information Systems,
COBAE California State University, Northridge Northridge, CA 91330-8372
http://www.csun.edu/~vcact00f
March 2, 2005 reply from Bob Jensen
You can read the following under "Internet" at http://www.trinity.edu/rjensen/245gloss.htm
1974 Bob Kahn and Vint Cerf refer to the term "Internet" for the
first time on their notes regarding Transmission Control Protocol http://www.bangla.net/isp/tech_support/internet-timeline.html
The "official definition" came out long after the term Internet
became commonly used --- http://www.itrd.gov/fnc/Internet_res.html
I've got all the symptoms
In the early '90s, psychiatrists and clinicians were
beginning to hear of a new medical term, "internet addiction." At
first, this was met with a lot of skepticism and denial, however, it became
evident that the more people logged on to cyberspace, the more they got
hooked.The 10 Symptoms You Need To Watch Out For:
AskMen.com --- http://www.askmen.com/fashion/body_and_mind/16_better_living.html
"Add Even More Muscle to “What-If” Analyses (in
Excel)," by James A. Weisel, Journal of Accountancy, March 2005, pp.
76-79 --- http://www.aicpa.org/pubs/jofa/mar2005/weisel.htm
This is the second of two articles on
how to use Excel to conduct powerful business analyses. Follow along as
I demonstrate how Scenario PivotTable can make your analysis of even the most
complex what-if projects more efficient and effective. In part 1, “Add
Muscle to What-If Analyses” (see JofA, Sept.04, page 38), we demonstrated
the basic techniques for managing multiple what-if versions using Excel’s
Scenario Manager. To illustrate the process, we started with a model budget
for a fictitious business, PQR Co. (exhibit 1) and created a series of five
scenarios with varying sales growth rates, cost-of-sales growth rates and
advertising expenditures . . .
Egads! Is this what you call filling in where schools fail?
The College Board will administer its revised
college-admissions test to thousands of high-school juniors for the first time
on Saturday, and the test has generated a bonanza of new study aids. "The
new SAT has led to a flurry of new products because all publishers are starting
new -- there's a new thing to compete over," says Justin Kestler, a founder
of SparkNotes LLC, a division of Borders
Group Inc. Adds Jon Zeitlin, manager of college-prep programs for
Kaplan Inc., a unit of Washington
Post Co.: "We've been on a product-creation jag for months."
Test-prep giant Princeton
Review Inc., which isn't affiliated with Princeton University, has developed
software that delivers test questions, including critical-reading passages, to
cellphone screens -- then grades the answers and sends the results home to Mom
and Dad. Its chief competitor Kaplan has software for a cellphone or a Palm
device: Order up easy, medium or hard questions in reading, writing or math.
Texas
Instruments Inc. is programming all of its latest graphing calculators with
SAT math and vocabulary drills. And SparkNotes has its test-prep eye on the
ubiquitous iPod. "We're trying to figure out how to do it in audio,"
says Mr. Kestler. "It's the next big killer application."
June Kronholz, "To Tackle New SAT, Perhaps You Need A New Study Device:
Test-Prep CDs, Puzzles, Cellphone Software Hit A June Market of
Nonreaders," The Wall Street Journal, March 8. 2005, Page A1
--- http://online.wsj.com/article/0,,SB111024562510773081,00.html?mod=todays_us_page_one
Jensen Comment
College admission tests serve many purposes, not the least of which is to guide
students into what to learn in school. One of the failings of our schools
and the college tests is the failure to test and motivate students toward
understanding personal finance. Why is this important? Personal
finances are a major cause of suicide and divorce. Sometimes I don't think
teachers really are concerned about the tragedies of life that affect nearly all
people later in life from the very poor to the very rich. Our graduates
mess of their lives because they mess up their personal finances and/or allow
themselves to be screwed by credit card companies, finance companies, brokers,
financial advisors, and banks (yes and banks).
Please read the following:
"Survey: Students Not Taught Basic Finance," Ben Feller, SmartPros,
March 7, 2005 --- http://accounting.smartpros.com/x47289.xml
And then look at the following:
March 4, 2005 message from a staff member at Trinity University

Think of the many people whose lives might be saved and whose marriages
might be more successful if they understood the basics of who to keep out of
digging themselves into financial holes and how to stop digging once they're in
those holes.
Bob Jensen's threads on the dirty tricks of credit card companies are at http://www.trinity.edu/rjensen/FraudReporting.htm#FICO
"Survey: Students Not Taught Basic Finance," Ben Feller, SmartPros,
March 7, 2005 --- http://accounting.smartpros.com/x47289.xml
WASHINGTON, March 7, 2005 (Associated Press) — More
states are requiring students to learn about managing money, but personal
finance remains a fringe topic in schools and a major source of federal
concern.
--------------------------------------------------------------------------------
Seven states mandate that students take a course
about basic finances to graduate high school, according to 2004 survey results
released Thursday by the private National Council on Economic Education.
That's up from 2002, when just four states required such courses.
In the standards they set for schools, most states
say they want money matters to be taught - 38 states include the ideas of
saving, investing, risk management and other finance themes in their standards
or guidelines, an increase from 31 states two years earlier. But the survey
found many states don't enforce the standards, let alone require entire
courses.
"There is more good economic and financial
education being offered in schools than ever," said Robert Duvall,
president of the national council, which released its findings during an
economic literacy summit. "But as a subject area, it continues to be
marginalized as an add-on in an already crowded curriculum. We need to keep
pushing to make it part of the core."
Poor understanding of personal finance can cause more
than a sloppy checkbook. As young people rack up credit debt or fail to save
money, they can later find themselves with bankruptcies, home foreclosures and
financial stresses that divide families, experts say.
The problem of bad money management is drawing more
national attention as a public education issue. Federal Reserve Chairman Alan
Greenspan has prodded schools to help teach kids financial literacy so they
are not saddled by poor financial decisions as adults.
The Financial Literacy and Education Commission,
which represents 20 federal agencies and commissions, is working on ways to
help people navigate complex money decisions.
In a national survey last year, only 52 percent of
high school seniors answered correctly questions about personal finance and
economics. The students struggled, for example, with questions on income tax,
stocks and bonds, credit card liability and retirement plans.
The new report says that the seven states requiring
students to take a personal finance course are Alabama, Georgia, Idaho,
Illinois, Kentucky, New York and Utah.
Relying on colleges to teach students about money is
not a good approach, Duvall said, as many kids don't get that far, and college
courses are more about theory than daily life.
Duvall's council wants all states to require an
economics course, including personal finance. A total of 15 states require an
economics course this year, up from 14 two years ago.
States can also reinforce economic themes in other
courses, such as a math class on compound interest or a history class on the
Boston Tea Party and taxation, Duvall said.
William Walstad, director of the National Center for
Research in Economic Education, said states should unite those varied lessons
in a well-defined sequence of courses - just as they do with math and science.
He said advocates need to lobby with more urgency and unity.
"Time can hurt us if we don't keep pressing the
case," Walstad said.
The number of states that included personal finance
in their curriculum standards dropped from 40 to 31 between 2000 and 2002
before rebounding in the new survey.
Duvall said that was a reaction by states to No Child
Left Behind, the 2001 federal education law that put a greater emphasis on
state math and reading progress.
"We've had a couple of years to take that in
stride and figure out how to not only put a rightful emphasis on language arts
and mathematics, but also financial literacy," he said.
Bob Jensen's threads on credit card frauds are at http://www.trinity.edu/rjensen/FraudReporting.htm#FICO
I agree with the habit of
spending within one’s means. But
there still is a question of stupid spending within one’s means.
For example, should families really spend extra for an entirely new car
even if they can make the payments? And
do they understand the car’s financing --- http://www.trinity.edu/rjensen/FraudDealers.htm
Free credit report offers seem to flood the Internet these days.
Most companies claiming to give you a free credit report are really looking to
sell you something in the long run, such as a credit monitoring service or
identity-fraud protection.
So, stop surfing around online for a
free credit report, most of the offers you will find are not really free. If you
do not qualify for a free credit report, you are still better going straight to
the actual credit bureaus and just paying the $8 that a credit report costs.
Knowing what your credit file says about you is priceless.
"Free Credit Report Offers... Are They Really Free? - Consumer Alert,"
AccountingWeb, March 3, 2005 --- http://www.accountingweb.com/item/100593
Free credit report offers seem to flood the Internet
these days. Most companies claiming to give you a free credit report are
really looking to sell you something in the long run, such as a credit
monitoring service or identity-fraud protection. Once you purchase the
service, you will be given a copy of your credit report, usually from just one
of the major credit bureaus. Since there are three major credit reporting
agencies (Experian, Transunion, and Equifax), you will not see the complete
picture if you do not receive a report from each one.
Other websites that sell credit reports are resellers
for the real credit bureaus and exist to make a profit. Some of these websites
are very useful if you intend to pay, and are very convenient as a centralized
place to obtain a 3-in-1 report with a personalized account that you can
return to at anytime to order more reports; however, you will not receive
anything for free.
Under the Fair Credit Reporting Act of 1970 you are
entitled to a free credit report if your application for credit, insurance or
employment is denied because of information provided by a credit reporting
agency (CRA). The company that you applied to must provide you with a denial
notice which will contain the name, address, and phone number of the CRA that
was used. You must request your report within 60 days of receiving the notice
of the action. In addition, you are entitled to one free report a year if (1)
you are unemployed and plan to look for a job within 60 days, (2) you are on
welfare, or (3) your report is inaccurate because of fraud.
Residents of Colorado, Georgia, Maine, Massachusetts,
Maryland, New Jersey and Vermont already have a right to one free report per
bureau each year because of laws enacted by those states. However, a new
Federal provision enacted in 2003, grants access to free credit reports to all
consumers in every state.
Free Annual Credit Reports Available to Everyone
According to the Fair and Accurate Credit
Transactions Act of 2003, every consumer is entitled to one free credit report
each year. The final rule on this Act issued by the Federal Trade Commission
in June 2004, provides for a centralized source from which consumers can
obtain their credit reports from each of the three credit bureaus.
The centralized source is becoming available in
cumulative stages, over a period of nine months, rolling-out from west. The
rollout began in December 2004 and will be complete by September 1, 2005.
Western states (Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana,
Nevada, New Mexico, Oregon, Utah, Washington, and Wyoming) became eligible on
December 1, 2004;
Midwestern states (Illinois, Indiana, Iowa, Kansas,
Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and
Wisconsin) will become eligible on March 1, 2005; Southern states (Alabama,
Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, Oklahoma, South
Carolina, Tennessee, and Texas ) will become eligible on June 1, 2005; Eastern
states (Connecticut, Delaware, District of Columbia, Maine, Maryland,
Massachusetts, New Hampshire, New Jersey, New York, North Carolina,
Pennsylvania, Rhode Island, Vermont, Virginia, and West Virginia), Puerto
Rico, and all U.S. territories will become eligible on September 1, 2005.
So, stop surfing around online for a free credit
report, most of the offers you will find are not really free. If you do not
qualify for a free credit report, you are still better going straight to the
actual credit bureaus and just paying the $8 that a credit report costs.
Knowing what your credit file says about you is priceless.
To my accounting theory students:
I probably won't examine you on this one, but you might find it of interest.
Karen Richardson, "Swapping Rates to Save on Debt ...
Maybe: Rice Financial Products Offers Cities, States Deal Rife With
Benefits, Risks," The Wall Street Journal, March 15, 2005;
Page C3 --- http://online.wsj.com/article/0,,SB111083206224878924,00.html?mod=todays_us_money_and_investing
Officials in Durham, N.C., hope that a financial
transaction with a private New York firm will save the city millions of
dollars on its municipal debt.
But some say the deal -- an interest-rate swap with a
formula that multiplies the city's potential savings as well as its potential
losses -- may contain costly risk.
"They're entering into a gamble where they
believe they're going to win more money than they're going to lose," says
Robert Whaley, professor of finance and a derivatives expert at Duke
University in Durham. "It's just speculation."
The Synthetic Fixed-Rate Refinancing Swap, as it is
known, was created by Rice Financial Products Co., which has sold such deals
in at least five states. It would work like this in Durham: On existing debt
of $103 million, Durham would pay Rice Financial a still-to-be negotiated
fixed interest rate over 15 years while Rice Financial would pay Durham a rate
that is about 0.9 percentage point greater, plus a so-called adjustment
factor. Rice Financial has said the deal could save the city $8 million.
"This proposal is so complex ... that I don't
know that there are 30 or 40 people in this entire state who can fully
comprehend it," says Eugene Brown, a Durham city councilman who has been
lobbying against the swap.
"What you really want to focus on is the all-in
cost of funds," says Donald Rice, founder and chief executive of Rice
Financial.
The adjustment factor is based on a combination of
the Bond Market Association (BMA) benchmark index rate for tax-exempt bonds
and the taxable London interbank offered rate, or Libor. Supply and demand,
credit risk, tax policy, interest rates and different maturities can result in
unpredictable swings in that relationship. "Understanding the dynamics of
how these two rates behave in relationship to one another is not an easy
task," says Prof. Whaley
The formula effectively "magnifies both
potential benefits and risks" by 1.54 times, according to an analysis of
the swap structure by Public Financial Management in Philadelphia, Durham's
financial adviser. The firm approved the deal but recommended that the city
budget the expected savings conservatively.
Rice Financial made an "unsolicited
proposal" to Durham City in August after it sold a similar swap to Durham
County, says Kenneth Pennoyer, the city's director of finance. Prior to
meeting with Rice Financial, he says, the city hadn't been contemplating any
sort of swap because most of its bonds outstanding pay a fixed interest rate.
"There's a potential savings for the city, and I
think that's a worthwhile goal in itself," Mr. Pennoyer says. He is
confident that a final city-council vote April 18 will approve the deal since
a commission of the state treasurer has approved it and Standard & Poor's
Ratings Services recently gave it its highest rating for this type of
transaction.
Mr. Rice is a Harvard Business School graduate who
started structuring municipal interest-rate swaps at Merrill Lynch & Co.
nearly 20 years ago. He says his company has executed more than $20 billion in
swaps since its establishment in 1994. "There may be a circumstance where
our transaction causes dis-savings, but it requires a substantial market move
... one that's unparalleled," says Mr. Rice.
Interest-rate swaps aren't new to the municipal-bond
markets, but their use has grown over the past three years. As interest rates
fell to record lows, municipal issuers were looking for ways to trim costs
without issuing more bonds. But with interest rates rising, fixed-rate issuers
betting on a formula involving two floating rates and a multiplier effect
seems imprudent to some.
"Often the political pressures are such that ...
when [potential benefits] are couched in terms of 'savings,' the risk is that
people are doing things they don't understand," says Mike Marz, vice
chairman of First Southwest Co. in Dallas. First Southwest has advised North
Carolina finance officials against using the Rice Financial swap.
Mr. Rice declined to discuss his company's
compensation from the swaps, except to say that issuers' financial advisers
were responsible for negotiating rates that were "fair value" in the
market. On average, municipal-swap deals generate fees of 0.05% to 0.10% of
the deal for bankers. Durham City's Mr. Pennoyer said Rice Financial's
compensation on the $103 million swap was in the ballpark of about $800,000,
or 0.8%.
In 2003 the West Basin Municipal Water District in
California sued its financial adviser, P.G. Corbin & Co., in California
state court, alleging it gave faulty advice in deeming a Rice Financial swap
in 2001 a "fair market transaction."
A spokesman for West Basin said he didn't know the
status of the case. Lawyers representing P.G. Corbin didn't return phone calls
seeking comment.
Separately, this month a West Basin official was
sentenced in U.S. court in California to two years in prison for extorting
$25,000 from a consultant at M.R. Beal & Co., then a partner of Rice
Financial, to steer the water district's debt-refinancing contract in Rice
Financial's favor.
"The well-publicized events among certain of
West Basin's board members are unfortunate," Mr. Rice said.
"Nonetheless, we are pleased with the products and services we have
provided West Basin over the years and value them as a customer."
From The Wall Street Journal Accounting Weekly Review on March
18, 2005
TITLE: Swapping Rates to Save on Debt...Maybe
REPORTER: Karen Richardson
DATE: Mar 14, 2005
PAGE: C3
LINK: http://online.wsj.com/article/0,,SB111083206224878924,00.html
TOPICS: Advanced Financial Accounting, Derivatives, Governmental Accounting
SUMMARY: The city of Durham, NC., has entered into an unusual interest rate
swap created by Rice Financial Products, Co. A Duke university finance
professor, Robert Whaley, describes the transaction as speculative.
QUESTIONS:
1.) What are the features of a standard interest rate swap? What is unusual
about the interest rate swap discussed in this article?
2.) Why might a governmental entity want to engage in an interest rate swap
transaction? Answer this question with reference to the current state of
interest rates and the terms of the Durham, N.C. debt described in the article.
3.) Why does Duke University Professor of Finance Robert Whaley call this
transaction "just speculation"?
4.) How does the assessment that this interest rate swap is speculative
potentially affect the accounting for the swap?
Reviewed By: Judy Beckman, University of Rhode Island
The practice of selling high risk derivative instruments
products just goes on and on in spite of the enormous scandals of the past --- http://www.trinity.edu/rjensen/fraudrotten.htm#DerivativesFrauds
You can read more about interest rate swaps by scrolling down at
http://www.trinity.edu/rjensen/acct5341/speakers/133glosf.htm#I-Terms
Particularly important is understanding Examples 2 and 5 of
Appendix B of FAS 133 and how to value interest rate swaps --- http://www.trinity.edu/rjensen/acct5341/speakers/133swapvalue.htm
Bob Jensen's tutorials on FAS 133 and IAS 39 accounting are at http://www.trinity.edu/rjensen/caseans/000index.htm
Forwarded by Don Mathis
A Write Shop --- http://www.awriteshop.com/e_reading.html
Many links to free books and other readings online.
Bob Jensen's links to electronic books are at http://www.trinity.edu/rjensen/searchh.htm#ElectronicBooks
Fannie Mae is a great source for
students learning about breakdown of internal controls
From The Wall Street Journal Accounting Weekly Review on
March 11, 2005
TITLE: Fannie Regulator Tightens Its Grip
REPORTER: James R. Hagerty
DATE: Mar 09, 2005
PAGE: A3
LINK: http://online.wsj.com/article/0,,SB111030895766973673,00.html
TOPICS: Accounting, Information Technology, Internal Auditing, Internal
Controls, Regulation
SUMMARY: "Fannie Mae's regulator told the mortgage company to fix
'deficiencies' in accounting-ledger and corporate-records controls. The new
requirements include policies bhannien falsified signatures on journal entries
and limiting employees' ability to alter databases." The internal control
framework developed by the Committee of Sponsoring Organizations of the Treadway
Commission (COSO) is used as a basis for questions. For those instructors who
wish to refer their students to the executive summary for this framework, it is
available on the web at http://www.coso.org/Publications/executive_summary_integrated_framework.htm
The Institute for Internal Auditors publishes a checklist developed by COSO
which is available on the web at
http://www.theiia.org/?doc_id=374
QUESTIONS: 1.) Define internal control and provide a proper reference to your
source for that definition.
2.) What is COSO? Who or what comprises the members of COSO?
3.) What professional documents identify the basis for sound internal
controls? Who establishes these standards?
4.) What internal control violations are highlighted in this article? Name
each and describe the component of control being violated, based on COSO's five
components of internal control.
5.) How does automation, and technical staff access to databases, add to
issues inherent in systems of internal control?
6.) Compare the discussion of internal controls in the main article to the
related article. How are the issues in the main article regarding internal
controls consistent with problems that are identified in the related article as
the basis for denying hedge accounting treatment for derivatives?
7.) Refer to the comparison made in answer to question 6. What general
category or categories of internal control do you think were ultimately violated
at Fannie Mae? Do you think this violation stems from the internal control
environment at Fannie Mae? Support your answer.
Reviewed By: Judy Beckman, University of Rhode Island
--- RELATED ARTICLES ---
TITLE: Fannie Faces Billions in New Losses
REPORTER: Jonathan Weil and James R. Hagerty
PAGE: A3
ISSUE: Mar 03, 2005
LINK: http://online.wsj.com/article/0,,SB110980084894668645,00.html
"Fannie Mae Is Cited for 'Deficiencies': Regulator
Sets Conditions To Correct Internal Controls; Office of Compliance
Created," by James R. Hagerty, The Wall Street Journal, March 9,
2005; Page A3 --- http://online.wsj.com/article/0,,SB111030895766973673,00.html
Fannie Mae's regulator announced that it has
instructed the mortgage company to correct "deficiencies" in its
controls over accounting ledgers and other corporate records.
The new requirements include the adoption of policies
banning falsified signatures on accounting journal entries and limiting
employees' ability to alter database records.
The latest move by the regulator -- the Office of
Federal Housing Enterprise Oversight, or Ofheo -- illustrates its tightening
grip on Fannie in light of an accounting scandal that emerged last year.
Fannie's board also agreed to create an "office
of compliance and ethics" and to direct the company's general counsel to
inform directors and regulators of "actual or possible misconduct"
at the company.
The directions to the company's board and management
are included in an agreement with the regulator, signed by Fannie Mae's
interim chairman, Stephen B. Ashley, and released by Ofheo yesterday. The
specificity of the agreement suggests that Ofheo has found examples of Fannie
employees flouting some basic standards of conduct.
An Ofheo spokeswoman declined to say whether such
wrongdoing had been found but said the regulator continues to work closely
with the Justice Department and the Securities and Exchange Commission in
investigating Fannie's accounting and internal controls.
Rep. Richard H. Baker (R., La.), chairman of a House
subcommittee that oversees Fannie and its smaller rival, Freddie Mac, said the
agreement "raises many disturbing questions, especially about tampering
with records, and we need to know the nature of the records and the extent of
this outrageous practice." He scheduled a hearing for April 5 to look
into the matter.
Mr. Ashley said in a statement that the agreement
"represents the next step in Fannie Mae's cooperative effort to address
issues raised by Ofheo." A spokesman declined to elaborate.
At a minimum, Fannie seems to have allowed
"extreme sloppiness" in its internal controls, said Karen Petrou, a
managing partner at Federal Financial Analytics Inc., a research firm in
Washington.
The new agreement supplements one imposed on Fannie
last September by Ofheo in the wake of findings that Fannie violated
accounting rules in an attempt to smooth out fluctuations in its earnings.
Those findings, backed by the SEC's chief accountant, prompted Fannie's board
in December to oust the company's chief executive officer and chief financial
officer.
Until recently, Fannie had the political clout to
brush off concerns raised by Ofheo, but the accounting scandal has forced the
company to seek a far more cooperative relationship with its regulator.
Among other things, the agreement requires Fannie to
devise a plan for rectifying "deficiencies" in procedures for making
and revising accounting journal entries. Those entries must be "supported
by appropriate documentation," the agreement says.
In addition, Fannie agreed to "adopt appropriate
internal controls" on any "overwriting" of database records by
technical-support employees at the direction of management to make changes or
corrections. Those changes would have to be properly documented.
The agreement also notes that Fannie's board has
separated the functions of chairman and chief executive, formerly both held by
Franklin D. Raines, who was forced to step down in December. Under Mr. Raines,
Fannie resisted Ofheo's proposal for a regulation that would, among other
things, require that the two jobs be held by different people. That proposed
regulation has been held up for months by a review at the Office of Management
and Budget; one person familiar with the situation said the Bush
administration was reluctant to set policy on whether companies should combine
the two functions. But Ofheo now has used its growing clout to persuade both
Fannie and Freddie to separate the jobs, even without a regulation.
The new requirements come as Fannie is preparing to
restate its results for the past four years and racing to meet a Sept. 30
deadline to raise additional capital, as previously mandated by Ofheo.
Fannie and Freddie were chartered by Congress to
provide funding for mortgage lenders. Although they are instruments of U.S.
housing policy, they are owned by shareholders and their shares are listed on
the New York Stock Exchange.
Small Business Helpers from Smart Stops on the Web, Journal
of Accountancy, March 2005 --- http://www.aicpa.org/pubs/jofa/mar2005/news_web.htm
Food for Thought
www.businessownersideacafe.com
“A fun approach to serious business” is the tag line here,
with lively graphics and laid-back narrative that punch up its material. The
Small Biz Tax Center helps clarify IRS tax and recordkeeping requirements and
gives tips for start-up business owners. The CyberSchmooz “lobby” opens
onto message forums on e-commerce, marketing and working at home. The Your Biz
section includes a “fridge” full of business forms, e-mail protocols,
marketing tips and even yoga instructions.
Small Company, Big Resources
www.allbusiness.com
From forms for consulting and confidentiality agreements to
advice on sales and marketing or using the Internet, this Web stop offers
guidance to CPAs who advise start-ups and small businesses. The Business Plans
section has articles such as “Common Business Plan Mistakes for Startup
Companies,” while the Small Business Advice section provides tax basics.
Users also can tap into an FAQ section or a business glossary or sign up for a
free e-newsletter.
A Dear Abby for Small Business
www.score.org
Since first listed here in June 2003, this site has added
resources to its Business Toolbox section including a gallery of downloadable
templates for bank loan applications, business plans and sales forecasts, as
well as expanded links to such small business topics as finance, franchising
and international trade. The Learning Center has a list of tips for business
planning, marketing, public relations and office management.
Bob Jensen's small business helpers are at http://www.trinity.edu/rjensen/bookbob1.htm#SmallBusiness
History of the word "gay" --- http://en.wikipedia.org/wiki/Gay
March 4, 2005 message from
Ethical Performance [list_admin@ethicalperformance.com]
As someone with an
interest in corporate social responsibility, I thought you would like to know
that Ethical Performance has expanded its online service to include news and
analysis directly from the Asia-Pacific region.
The online
version of the independent business newsletter on corporate social
responsibility and socially responsible investment now offers news from 29
Asia-Pacific countries at http://www.ethicalperformance.com
Ethical Performance
Online also includes a detailed list of links to companies, consultancies,
investors, civil society groups and other organizations in the region that are
playing a key role in CSR and SRI.
March 3, 2005 message from Carolyn Kotlas [kotlas@email.unc.edu]
ENCOURAGING FACULTY ADOPTION OF TECHNOLOGY FOR
TEACHING
"Some universities, some faculty, and even some
students have increased their personal wealth by asserting ownership of the
intellectual property created at the university. For many faculty, however,
this new entrepreneurial orientation runs deeply counter to traditions of
education and public service. Past campus debates about aspects of this
cultural shift have created an environment of distrust and rancor." In a
recent article Brian C. Donohue and Linda Howe-Steiger express their belief
that this distrust has "spilled over into faculty attitudes toward the
use of digital technologies for teaching" causing faculty to reject these
technologies. This situation can be remedied if institutions "create
incentives for faculty that balance public service goals with professional and
entrepreneurial rewards, clarify ownership and usage rights of intellectual
property generated by and for teaching, and generate additional funding for
curriculum development at universities (possibly through tax credits)."
They expand upon how to accomplish this in "Faculty and Administrators
Collaborating for E-Learning Courseware" (EDUCAUSE QUARTERLY, vol. 28,
no. 1, 2005, pp. 20-32). The article is available online, at no cost, at http://www.educause.edu/apps/eq/eqm05/eqm0513.asp
.
EDUCAUSE Quarterly, The IT Practitioner's Journal
[ISSN 1528-5324] is published by EDUCAUSE, 4772 Walnut Street, Suite 206,
Boulder, CO 80301-2538 USA. Current and past issues are available online at
http://www.educause.edu/eq/ .
Bob Jensen's threads on education technology are at http://www.trinity.edu/rjensen/000aaa/0000start.htm
WHAT LEADS TO ACHIEVING SUCCESS IN DISTANCE
EDUCATION?
"Achieving Success in Internet-Supported
Learning in Higher Education," released February 1, 2005, reports on the
study of distance education conducted by the Alliance for Higher Education
Competitiveness (A-HEC). A-HEC surveyed 21 colleges and universities to
"uncover best practices in achieving success with the use of the Internet
in higher education." Some of the questions asked by the study included:
"Why do institutions move online? Are there
particular conditions under which e-Learning will be successful?"
"What is the role of leadership and by whom?
What level of investment or commitment is necessary for success?"
"How do institutions evaluate and measure
success?"
"What are the most important and successful
factors for student support and faculty support?"
"Where do institutions get stuck? What are the
key challenges?"
The complete report is available online, at no cost,
at http://www.a-hec.org/e-learning_study.html.
The "core focus" of the nonprofit Alliance
for Higher Education Competitiveness (A-HEC) "is on communicating how
higher education leaders are creating positive change by crystallizing their
mission, offering more effective academic programs, defining their role in
society, and putting in place balanced accountability measures." For more
information, go to http://www.a-hec.org/ .
Individual membership in A-HEC is free.
Bob Jensen's threads on assessment are at http://www.trinity.edu/rjensen/assess.htm
MAKING THE CASE FOR A WIKI
The Wiki.org site defines a Wiki as "the
simplest online database that could possibly work." It is a "piece
of server software that allows users to freely create and edit Web page
content using any Web browser. Wiki supports hyperlinks and has a simple text
syntax for creating new pages and crosslinks between internal pages on the
fly." Some uses of Wikis in education include collaborative writing
projects, discussion forums, project spaces/libraries, and interdisciplinary
projects.
In "Making the Case for a Wiki" (ARIADNE,
issue 42, January 2005) Emma Tonkin explains what a Wiki is and how to choose
and deploy a Wiki implementation. The article is available online at http://www.ariadne.ac.uk/issue42/tonkin/
.
Ariadne is published every three months by the UK
Office for Library and Information Networking (UKOLN). Its purpose is "to
report on information service developments and information networking issues
worldwide, keeping the busy practitioner abreast of current digital library
initiatives." For more information, contact: Richard Waller, Editor;
email: ariadne@ukoln.ac.uk ;
Web: http://www.ariadne.ac.uk/
Bob Jensen's Wiki threads are at http://www.trinity.edu/~rjensen/245glosf.htm#Wiki
"Smart Startups Don't Wait to Set Up Accounting
Systems," by Marguerite Rigoglioso in a review of a a study by Antonio
Davila and George Foster, Stanford University Graduate School of Business Alumni
Newsletter, February 2005 --- http://www.gsb.stanford.edu/news/research/entrep_davila_foster_acctgsystems.shtml
The question of when to set up management control
systems such as financial planning and monitoring tools haunts most
entrepreneurs involved in startup operations. Until recently, there was little
research on the topic, but a new study by Antonio Davila, assistant professor
of accounting, and George Foster, the Paul L. and Phyllis Wattis Professor of
Management, explores this area.
Davila and Foster studied 78 companies in a variety
of technical and non-technical industries, each less than 10 years old. They
found firms that acted quickly to institute formal mechanisms such as
operation budgets, cash budgets, and financial monitoring systems (tools that
measure profitability, customer acquisition costs, variance from actual
budget, and so forth) had higher growth rates in terms of revenues and head
count. They also had greater and more rapid increases in valuation at
successive rounds of venture capital funding.
"Control systems are critical for providing
executives with data they can use for their managerial decision making,"
says Foster. "We can't prove whether growth pushes the adoption of
management systems, or whether the adoption of management systems pushes
growth, but clearly both are occurring. Larger companies are more complex and
need the discipline that such systems can bring. At the same time, it's
generally true that managers of early-stage companies are unlikely to predict
accurately exactly when growth will occur. Therefore, because significant
growth does tend to happen within a year of their establishing management
accounting systems, it's likely that these systems anticipate and fuel growth,
as well."
Because information about internal decision making
regarding management systems generally is not available publicly, the
researchers used questionnaires and interviews to glean valuable data about
company practices from some 200 startup executives. They found that young
companies begin with few management systems in place. These firms tend to
institute financial planning systems such as operational budgets on average
1.48 years after the company founding, with cash budgets following quickly.
Financial monitoring systems come much later—on average three or more years
after founding. Still other systems, such as product development, partnership,
and marketing control, come even later.
"Management systems are the foundation for
growth," says Davila. "As an executive in one of the companies we
worked with described it, 'management by personality' only works up to a
certain point. After that, you need to put systems in place."
One key factor driving the timing of when financial
management systems are adopted is when a chief financial officer is hired,
according to Davila and Foster. "We call this the 'import-in' approach to
establishing control systems," says Foster. "Companies look for
what's missing in their organization and hire people who have skills in those
areas. Bringing on a senior financial officer typically fast tracks
establishing financial planning and monitoring systems. It's generally more
effective and economical than trying to create something from scratch within
an organization."
The study also reveals that venture capital-backed
companies tend to establish operating and cash budgets sooner than
individually funded startups. "Often managers want to be sure that the
funding will not be abused, so they are eager to set up controls as soon as
they can," Foster says. "VCs also understand the importance of good
financial management and encourage the use of these systems." Companies
with more experienced CEOs adopt planning systems earlier than those with
greener leaders at the helm, as well. "More experienced executives
recognize the importance of formalized decision-making mechanisms and are
quicker to implement them," he says.
Continued in article
"The Shape of Tech
This Year," Business Week, January 11, 2005 --- http://snipurl.com/ShapeOfTech
Certainly, plenty of
excitement surrounds consumer technologies like liquid crystal and plasma TVs
and wireless technologies like Wi-Fi. But for every high hope, there's a
gloomy forecast of weak corporate spending and merger failures or continuing
price pressure from China.
This much is known:
After nearly three years of declines, 2004 was a ray of hope for tech.
Business spending on technology was up, somewhere in the range of 5%. Venture
capitalists started taking entrepreneurs to lunch once again. Tech employment
picked up, despite competition from international outsourcing outfits. And
tech stocks outpaced the rest of the stock market.
PLUSES AND
MINUSES.
Will those happy trends continue this year? Well, tech spending should keep
pace with 2004. VCs look like they're ready to put money behind the young
turks they've been lunching. The high-price products coming from the
convergence of consumer electronics and the tech industry look like they're
about to lose the ugly "high-price" moniker. Wi-Fi is about to go
from cool-to-have to must-have.
But worries remain.
While tech companies are hiring again, they don't seem particularly eager to
increase wages. Many economists are concerned that tech salaries will stay
flat or even drop this year. Either way, they certainly won't keep up with the
cost of living. Meanwhile, investors happy about the software industry's
merger mania may get a rude awakening: These deals may look great on paper,
but they're awfully hard to pull off for a whole bunch of reasons, ranging
from cultural to technical.
Most of all,
investors fear that the stocks of tech bellwethers like Microsoft (MSFT ),
Cisco (CSCO ), and Intel (INTC ) may take a big hit. After all, these
companies have enjoyed premium share prices over the years because they were
considered "growth" stocks -- companies that expand far faster than
the rest of the economy.
FROM WALL ST. TO
CHINA.
Now that the tech industry is so big and these companies have such dominant
shares of their particularly industries, it may be unrealistic to expect them
to keep the growth pace of their younger days.
Maturity. It's not a
bad thing. But it sure will take a lot of getting used to.
In this special
report, BusinessWeek Online predicts seven big trends for the coming year.
We'll explain why tech bellwethers may have a tough year on Wall Street, why
venture capitalists are showing some moxie and investing in new ideas, and why
Wi-Fi will soon be found in places unimaginable just a year or two ago. We'll
look at tech employment trends, salivate at the likely prospect of big price
drops for high-tech TVs, cast a wary eye toward software mergers, and count
the ways China is having a big impact on the semiconductor industry.
Continued in article
Yet
another hit on women
Why so few women chess masters? America's top female player ponders the
question.
But Ms. Polgar is not someone who sees the
two sexes as the same. "I think women are built differently and approach
life very differently," she told me. And in a 2002 column for ChessCafe.com,
she took on what might now be called the Lawrence Summers question. "If we
talk about pure abilities and skills, I believe there should be no reason why
women cannot play as well as men," Ms. Polgar wrote, but she went on to
list various reasons that more female players have not reached chess's highest
ranks -- among them their biological clocks, narrower opportunities to compete,
cultural and gender bias, and the fact that "for years, women have set much
lower standards" for themselves in chess than men. "If you do not put
in the same work, you can't compete at the same level," she said then
Barbara D. Phillips, "Envoy From the Sport of Kings And Queens, Bishops,
Knights," The Wall Street Journal, March 1, 2005; Page D9 --- http://online.wsj.com/article/0,,SB110964485701166720,00.html?mod=opinion&ojcontent=otep
Susan
Polgar's book "A World Champion's Guide to Chess," co-written by
Paul Truong, will be released March 8 by Random House Puzzles & Games, and
a book on chess tactics is scheduled for 2006. Her instructional DVD series
will be available later this year. Yet another book, her "Breaking
Through: How the Polgar Sisters Changed the Game of Chess," also
co-written by Mr. Truong, is due out from Everyman Chess in May. And in June
all three Polgar sisters will appear at the Las Vegas International Chess
Festival.
Susan,
who speaks seven languages, now sees herself as an ambassador for chess in
America. Study after study has "shown that children who are exposed to
the game are ahead of their peers who are not involved with the royal game.
Chess is a wonderful tool to increase concentration, self-control, patience,
imagination, creativity, logical thinking and many more important and useful
life skills," she says.
Her
Polgar Chess Center welcomes players of all ages, from tots to retirees. This
queen of chess says the center, which opened in 1997 and moved to its current
location in a ground-floor apartment on Queens Boulevard in Forest Hills last
year, is the "only full-fledged chess club in New York," operating
seven days a week. She lectures there on Thursday nights.
Two
years ago, she founded her nonprofit Susan Polgar Foundation to promote chess
to young people nationwide, with a special focus on girls. This year, more
than 3,000 of them will participate in regional qualifying events for the
second Susan Polgar National Invitational for Girls. The University of Texas
at Dallas will award a full four-year scholarship to the highest finishing
player who has not yet graduated from high school when the tournament is held
in Phoenix this August. She also is looking for support, both from donations
and from politicians, for her foundation's Excel Through Chess program, which
aims to introduce chess to every child in every school to help them do better
in their studies and in life.
And if
that isn't enough to keep Ms. Polgar occupied, she writes regular columns not
only for ChessCafe.com but for Chess Life magazine.
Looking
back, she says one of her biggest disappointments in the sport was in 1986.
After qualifying for the Men's World Championship, the first woman -- girl,
really -- ever to do so, she was not allowed to participate. But Zsuzsa (as
Susan is also known) persevered and would have her share of victories. They
included "breaking the gender barrier and becoming the first woman to
ever earn the overall (men's) International Grandmaster title. Winning 10
medals in the Chess Olympiad, with five gold, four silver and one bronze.
Winning four Women's World Championships and being the only World Champion,
male or female, to win the triple crown in chess -- World Blitz, usually each
player has five minutes for the entire game; Rapid Championship, usually 25
minutes for each player per game; and Classical Chess Championship, where the
games usually last six to seven hours. The reason this is so special is
because it is like winning the 100-meter dash, 800-meter race and marathon, or
winning tennis on all three surfaces....Most players are good at one and not
at the others."
And her
latest victory? "After a more than eight-year break from international
competition, I made a triumphant return to the Chess Olympiad, this time
representing the U.S." That was in October of last year, when she picked
up four of those 10 shiny objects in her collection. "I am proud to win
the first-ever medals for our Women's Chess team -- two gold and two
silver."
Did I
mention that just before that, in Lindsborg, Kan., she tied seven-time World
Champion Anatoly Karpov in "The Clash of the Titans," which was the
first officially sanctioned match between a male and female World Champion?
Some of
her clashes have mixed the bitter with the sweet. In 1999, FIDE stripped Ms.
Polgar of her classical Women's World Championship title in a dispute over the
timing, location and purse of the event in which she was to defend her 1996
crown. She calls it "a bitter moment in my life." But the feisty
player fought back, suing FIDE. In September 2001, she won a $25,000 judgment
from the International Court of Sports Arbitration in Switzerland.
"Basically, I got the minimal monetary compensation, which I consider
like a moral victory, because the courts take so long that by the time they
decided, it was too late...by then they had another World Championship."
She had
planned to take some time off from international competition to focus on her
family, anyway, but "the break would not have been that long if I had had
a chance to defend my title at the time," she says. "Then it would
have been just two, three years. That was really the problem. They wouldn't
let me defend my title and I got kind of upset."
Ms.
Polgar says her comeback at the 2004 Olympiad in Spain "was fun."
And she flew home to Forest Hills expecting the mainstream American press to
be buzzing about Team USA's strong showing and her own return to the chess
limelight. Instead, she was greeted with near silence. But if anyone can raise
the profile of American chess -- and women in chess -- it is Susan Polgar, the
self-appointed envoy from the sport of kings and queens, bishops, knights,
rooks and pawns.
Continued in article
National Cancer Institute
--- http://cancer.gov/
"Encouragement, not
gender, key to success in science," by Janet L. Holmgren and Linda Basch, Carnegie
Perspectives, March 2005 --- http://www.carnegiefoundation.org/perspectives/
This month's
commentary was written by the chair of Carnegie's Board of Trustees, Mills
College President Janet Holmgren, and Linda Basch, president of the National
Council for Research on Women.
Harvard President
Lawrence Summers' observations that women may be under-represented among
scientists because of "innate differences" between the genders have
already generated a good deal of discussion. This Perspective, published
previously in the San Francisco Chronicle, offers information from
NCRW's 2001 report
on the participation of women and girls in the sciences and calls for a
more "constructive discourse" around this serious problem.
Dictionary of Canadian Biography Online
--- http://www.biographi.ca/EN/index.html
From The Wall Street Journal Weekly Accounting Review on March 4, 2005
TITLE: Executives Find Restricted Stock Pays Dividends from the Get-Go
REPORTER: Phyllis Plitch
DATE: Feb 28, 2005
PAGE: C3
LINK: http://online.wsj.com/article/0,,SB110955473657465520,00.html
TOPICS: Compensation, Disclosure Requirements, Dividends, Financial Accounting,
Accounting
SUMMARY: While "restricted stock generally requires continued
employment...[and] employees don't have ownership rights on the shares until
several years after they are awarded...executives are getting paid dividends on
their restricted stock before it has vested." Disclosures of executive
compensation often exclude these dividend payments.
QUESTIONS:
1.) What is restricted stock? Why is restricted stock used as a form of
executive compensation?
2.) What does the author say companies indicate as reasons for paying
dividends on restricted stock?
3.) How is it possible that executives may receive dividends on stocks they
never end up owning?
4.) Paul Hodgson, a researcher in executive compensation, estimates that some
companies reinvest the dividends for executives holding restricted stock. How
does this alleviate the concerns raised in this article?
5.) Prepare summary journal entries, without dollar amounts, made by
companies that award dividends on restricted stock and then require the
dividends to be reinvested.
6.) Compare the results of the transactions described in question 6 to the
results of a stock dividend, explaining both similarities and differences. Do
you think that these two transactions are perceived differently by stockholders?
7.) As stated in the article, ""Dividends are additional
compensation and should be disclosed as exactly that.'" Are dividends on
restricted stock paid to executives included in compensation expense in the
income statement? Support your answer.
8.) What disclosures are required regarding dividend payments? How can
analysts and investors "crunch the numbers" using these disclosures to
determine dividends received by executives on restricted stock if disclosure of
that amount is not made under compensation disclosures?
Reviewed By: Judy Beckman, University of Rhode Island
"Executives Find Restricted Stock Pays Dividends From the Get-Go,"
by Phyllis Plitch, The Wall Street Journal, February 28, 2005, Page C3 --- http://online.wsj.com/article/0,,SB110955473657465520,00.html
Here's a deal any investor would love: You receive
dividends on stock you may never own.
Sound far-fetched? That is exactly what is happening
for many executives reaping dividend payments on restricted stock, a popular
form of compensation.
Restricted stock generally requires continued
employment, and most forms are so-called time-vested shares, meaning the
employees don't have ownership rights on the shares until several years after
they are awarded. But in many cases executives are getting paid dividends on
their restricted stock before it has vested.
What critics find vexing is that investors can find
this information only in the footnotes of securities filings. Even then, they
have to numbers-crunch to figure out how much executives are getting from the
arrangement, which can amount to hundreds of thousands of dollars.
Take Altria Group Inc. Chairman and Chief Executive
Louis C. Camilleri. The tobacco company last year raised its quarterly
dividend to 73 cents from 68 cents. Mr. Camilleri, in turn, earned more than
$1.5 million in dividends on 450,000 unvested restricted shares held at the
end of 2003 and an additional 125,000-share tranche granted in January 2004.
The company declined to comment.
In footnoting the explanation that dividends are paid
on unvested shares -- and not breaking out the exact dollar amount --
companies say they are adhering to disclosure rules, because nothing more is
explicitly required. But questions about dividend disclosures are coming to
the surface as the Securities and Exchange Commission considers requiring
companies to be more open about compensation.
Alan Beller, who heads the SEC's division of
corporation finance, recently issued a stark warning to companies that even
current rules require them to include in proxies all compensation for the
highest-paid executives.
"Restricted shares are pure compensation,"
says Paul Hodgson, senior research associate in executive and board
compensation at the Corporate Library, a corporate-governance research firm
that often takes a hard line on compensation. "Dividends are additional
compensation and should be disclosed as exactly that."
Companies paying the dividend generally declined to
comment on the rationale behind the practice. Several stressed that executives
have to pay taxes on the dividends at their ordinary tax rate. But because an
executive could leave before these shares vest, "it's better to defer the
dividends until vesting," says Ira Kay, national director of compensation
consulting at Watson Wyatt Worldwide.
Mr. Hodgson estimates that 90% of U.S. publicly
traded companies award dividends on restricted stock, with 85% of those
awarding the payments at the time the regular dividend is paid and the
remaining 15% reinvesting the dividends.
Bob Jensen's threads on compensation are at http://www.trinity.edu/rjensen/theory/sfas123/jensen01.htm
Center for Applied Linguistics --- http://www.cal.org/
Why Business People Speak Like
Idiots
Here's the kind of guff that we've all had about enough of (and if you've
already had more than enough, feel free to skip ahead): "Technological
innovation, globalization, complex regulation and increased accountability at
the senior management and board level have all combined to significantly change
the landscape of risk management today. To help address these issues, our
security professionals deliver services to address the various elements of
security and trust associated with communicating, transacting and accessing in
this environment."
Why Business People Speak Like Idiots (Free
Press, 175 pages, $22) aims to put prose like that -- especially the spoken
version of it -- out of its misery. Good idea.
Barbara Wallraff, "Assessing the Parameters Of Issue-Driven
Discourse," The Wall Street Journal, March 1, 2005, Page D9 --- http://online.wsj.com/article/0,,SB110964096311766617,00.html?mod=opinion&ojcontent=otep
The
authors -- Brian Fugere, Chelsea Hardaway and Jon Warshawsky -- positioned
themselves to write this book by developing software called Bullfighter in
2003, when all three worked at Deloitte Consulting. The computer program
scoured business documents for snippets of unlovely jargon and suggested
plain-English replacements. More of a gizmo than a killer app, Bullfighter was
nonetheless a hit.
But
business jargon, like a flu virus, keeps mutating. It's not enough to zap
"bleeding edge," "frictionless,"
"results-driven" and other such words and phrases, one by one. The
real goal is to avoid jargon instinctively, in the moment. Software can't help
with this. To achieve the larger goal, you have to use your head. Another good
idea.
So, the
book's argument goes, if you can avoid four "traps" -- being
obscure, being anonymous, overpromising and being tedious -- you'll knock 'em
dead. "Why Business People Speak Like Idiots" follows its own
advice. It's blunt, lively and chockablock with personality.
A
sidebar in the "Tedium Trap" section is headed: "And This Is
Interesting Because?" A chapter title in the "Anonymity Trap"
section reads: "Pick Up the Damn Phone." A brief, ironic discussion
of "The Secret Magic Miracle Cure Answer" leads into the final,
summing-up chapter, which promises: "There is an amazing opportunity for
you to rise above your peers, further your career, sell your ideas, and get
what you want just by being yourself."
Hmmm.
Can we talk about that last claim? If only it were so easy. If only speaking
like a brilliant person, or giving a presentation like one, were as easy as
this book wants us to believe. One problem is that to follow the book's advice
you have to be a certain kind of person, someone a lot like the authors
themselves -- breezy, confident, quick on your feet and more prone to swearing
than anyone in this newspaper is allowed to be. It also helps to be
enthusiastic about your subject.
But if
you aren't naturally breezy, confident and enthusiastic, there doesn't seem to
be much you can do about it. Referring to all of us, the authors observe:
"On the weekend, we take off the corporate mask and speak in a real,
compelling voice. And people listen." They suggest we follow such a
course in the office as well. Is it possible, however, that the reason people
listen to us on the weekend is that we're not talking about work?
Then,
too, suppose you are breezy, confident, etc. Forgive me, but just having that
personality style doesn't make you competent. The authors urge people to
apologize when they fall short. Richard Clarke famously did, the authors note
("Your government failed you...and I failed you"), and so did Warren
Buffett ("I was dead wrong"). We love these guys for such candor.
But do we really want to hear heartfelt apologies from our boss, our
colleagues, our assistants, our consultants, the IT department, the
receptionist, the cleaning staff and the man who delivers lunch? Not me. I
want them to have nothing much to apologize for because they do their jobs
right.
Ultimately,
"Why Business People Speak Like Idiots" has it backward. In my
experience, the commonest problem with business language is that it tells you
more about the speaker (or writer) than that person intended to share. People
don't necessarily think things through or feel unconflicted enthusiasm for
what they're working on. Not everyone has a personality with broad appeal. Not
everyone knows what he's doing. A speaker's failure to convey his true essence
is rarely the problem. More often the problem is the speaker's essence itself
or else an uneasy relationship between that essence and the business at hand.
The
problem with the "guff" at the start of this review, for instance,
is that it's glib, fluffy and even dopey, no? ("To help address these
issues, our security professionals deliver services to address the various
elements of security...." Aw, c'mon!) As it happens, the example comes
from the Web site of Deloitte Consulting, where two of the three authors still
work.
Continued in article
March 2, 2005 message from Barbara Scofield [scofield@GSM.UDALLAS.EDU]
I am in the midst of changing my teaching materials
for Intermediate Accounting for share-based compensation for the new rules of
SFAS 123R, and I need feedback on what FASB means by valuing stock
appreciation rights at fair value. I don't see that the standard ever actually
says that SARs have the same fair value as equivalent stock options (although
I may have missed comments confirming or disconfirming this in the 250+
pages), but that is my conclusion at this time.
I'm having students download free options value
calculators for this unit and have linked to http://www.trader-soft.com/download.html
. Any evaluation of this calculator or suggestions for another source?
March 2, 2005 reply from Bob Jensen
Hi Barbara,
Valuation of SARs ---
http://www.nceo.org/library/phantom_stock.html
So from the time the grant is made until the award is paid out, the company
records the value of the percentage of the promised shares or increase in the
value of the shares, pro-rated over the term of the award. In each year, the
value is adjusted to reflect the additional pro-rata share of the award the
employee has earned, plus or minus any adjustments to value arising from the
rise of fall in share price. Unlike accounting for variable award stock
options, where a charge is amortized only over a vesting period, with phantom
stock and SARs, the charge builds up during the vesting period, then after
vesting all additional stock price increases are taken as they occur. when the
vesting is triggered by a performance event, such as a profit target. In this
case, the company must estimate the expected amount earned based on progress
towards the target. The accounting treatment is more complicated if the
vesting occurs gradually. Now each tranche of vested awards is treated as a
separate award. Appreciation is allocated to each award pro-rata to time over
which it is earned.
*********************
Option Value Calculator Dangers
You probably can use an options value calculator in your course. However,
keep in mind the following (with respect to the Black-Scholes model) that
appears at
http://www.trinity.edu/rjensen/theory/sfas123/jensen01.htm
But then the BS model doesn't work too well anyway since employees tend to
value uncapped options much lower than BS model estimates (mostly out of fear
that their options will tank). They will accordingly reduce their estimates of
value even lower if the options have caps. I leave it up to you to explain to
students why options with seven year expiration dates have lower value than
traditional ten year dates, which in turn will result in higher corporate
earnings per share if seven year expirations are used. Hint: It all has to do
with that time value component of option value.
"Stock-Option Plans Get Revised to Meet New Rule," by Linlling
Wei, The Wall Street Journal, December 30, 2004, Page C3 ---
http://online.wsj.com/article/0,,SB110435344663812226,00.html?mod=todays_us_money_and_investing
Companies are giving their stock-option plans
makeovers.
In preparation for an accounting mandate that they
treat employee stock options as an expense, companies are slashing option
grants, replacing garden-variety options with various forms of stock
compensation or tweaking the features of standard options.
"Most companies are looking at 'what are the
alternatives?' " said Judy Thorp, national partner in charge of the
compensation and benefits practice at KPMG.
One move under consideration, pay specialists say,
is to cap the potential gain an employee or an executive can get from
cashing in options. Tech Data Corp., for instance, already has won
shareholder approval to issue such "maximum-value" stock options.
Applera Corp. recently asked shareholders to vote on a similar proposal.
Officials at both companies weren't available for comment.
A cap can make options less costly to companies
than traditional options. It also "eliminates a concern of some
investors that the open-ended nature of a traditional option could result in
windfall gains for employees or executives," said Carl Weinberg, a
compensation expert in the human-resources practice at
PricewaterhouseCoopers.
Stock options give recipients the right to buy
their companies' shares at a fixed price within a certain period. They pay
off only if the stock price rises, unlike stock grants that companies have
long had to count as expenses. Employees, compensation experts say, tend to
exercise their options well before the rights expire, which typically occurs
10 years after the grant date.
Stock options grew in popularity during the 1990s.
About 14 million American workers -- or 13% of the work force in the private
sector -- hold options, according to professors at Rutgers University and
Harvard University.
Under the new Financial Accounting Standards Board
rule, companies will have to deduct the value of stock options from profits,
beginning in mid-2005. The options are valued when they are issued, and
companies spread the cost out over the vesting period. Technology companies
-- heavy issuers of options -- could continue to lobby Congress to derail
the rule, but analysts see little chance of congressional intervention.
Some companies, including Exxon Mobil Corp. and
insurer Progressive Corp., have stopped granting stock options altogether.
Instead, they make grants of restricted stock, or shares that recipients
can't sell for a set period. Because they provide a more certain payoff,
companies usually can dole out fewer such shares. It is also easier for
companies to value these shares.
Other companies, like SBC Communications Inc., are
turning to stock grants that are paid out only when specific financial or
operational targets are met. Shareholders favor such "performance
shares" as a way to align compensation more closely with investors'
interests. Microsoft Corp. has decided to give its top 600 managers shares
tied to the company's performance.
Shareholders of Intel Corp., meanwhile, have
approved a new option plan that, among other changes, requires employees to
exercise options in seven years instead of 10. At aluminum company Alcoa
Inc., new stock options will have a six-year lifespan instead of 10 years.
Options with shorter lives have a lower value.
Bob Jensen
Part of a message received from a friend on March 1, 2005
Dear XXXXX
Thank you for your
email, and for your consideration of our request to support PAA. The alumni
association does receive a percentage of the total amount of charges submitted
by our alumni who use the card. We are precluded by contractual arrangements
from disclosing the percentages or amount but I can tell you that this is a
significant revenue source for the alumni association.
The revenue from this
program is used in a variety of ways to support the programs and services
offered to our alumni and members. These funds help support our outreach
efforts such as alumni clubs, student recruitment events, Purdue on the Road
events. In addition these funds help support the Faculty Incentive Grant
program to assist in faculty development, Diversity Grants to support diverse
programming efforts and Legacy events that highlight Purdue students whose
parents are graduates of Purdue as well.
In addition to the
financial support is another way to market Purdue throughout the world. Every
time someone pulls the card out of their wallet they are marketing Purdue for
us.
I am more than happy
to answer any further questions you might have and thank you for your email.
It is very important for our alumni to be informed about our programs and I
appreciate your thoughtful questions.
Best wishes,
Todd
YYYYY
Purdue University
Jensen Comment
One of my friends forwarded the above
message. It reflects what is commonplace now among alumni associations of
colleges. These associations promote a particular credit card company and
receive revenue for this service on purchases of alumni and students. I
suspect it is not unethical as long as alumni and students are aware of all
facts in the situation. The letter above does not mention that alumni
associations generally forward more than names and addresses to credit card
companies and possibly other vendors. I have some concerns when they
forward social security numbers without express written consent for
alumni. I also have concerns when alumni are not aware of how or who is
receiving confidential information from alumni associations.
I have
written previously about this general practice at http://www.trinity.edu/rjensen/FraudReporting.htm#FICO
I think the credit card companies want the social security numbers of all alumni
and students so that FICO ratings can be investigated before inviting an alumnus
or student to apply for a University of ZZZZZ credit card.
Invasive Plant Atlas of New England http://invasives.eeb.uconn.edu/ipane/
March 16, 2005 message from Barry Rice [BRice@LOYOLA.EDU]
I received this from a former student and would
appreciate suggestions for answering him.
Thanks,
Barry Rice
AECM List Owner
Hi Professor Rice...
I took an accounting class of yours several years ago to get into the MSF
program at Loyola. I work on the fixed income side of wealth management here
at Mercantile. I have always struggled with accounting and one of my new
duties is to track cash flows and market values for some accounts. Is there a
mutual fund accounting text book (or something similar) that might be able to
help me? The more specific to fixed income the better. Any assistance you
could give me would be great. Thanks for your help...
March 16, 2005 reply from Bob Jensen
Hi Barry,
I don't know of any textbook that does a good job on mutual fund
accounting.
This is a tough topic because it is so hard to get at some of the elements
needed for accounting. For example expense ratios are easy to obtain but
brokerage fees sometimes buried and hard to find. I recommend starting with
the SEC's mutual fund cost calculator --- http://www.sec.gov/investor/tools/mfcc/mfcc-int.htm
It is important to understand how mutual funds work. A pretty good overview
is at http://biz.yahoo.com/funds/basics.html
For the broader picture, go to http://dir.yahoo.com/business_and_economy/finance_and_investment/mutual_funds/
One of the best known software packages is Captool Professional Investor
(free demo available) --- http://www.wallstreetsoftware.com/newindex.html
Tax accounting overview --- http://registeredrep.com/mag/finance_tax_crazy/
A summary of various software systems is available at http://www.finance-links.net/s_mutual-fund-accounting-software.html
Although this is not an accounting article per se, there is quite a lot of
useful information related to basic accounting of mutual fund investments at http://www.worldbank.org/html/dec/Publications/Workpapers/wps2000series/wps2099/wps2099.pdf
The snipped link is http://snipurl.com/WorldBankMF
Trust accounting DVD --- http://www.picturecompany.com/Trusts/tableContents.htm
Bill Cogdell's tidbits of investing advice --- http://www.midland.edu/cogdell/setb.html
"Accounting Firms Hiring Thousands of '05 Grads," SmartPros,
February 23, 2005 --- http://accounting.smartpros.com/x47148.xml
Feb. 23, 2005 (SmartPros) — The job market for 2005 college graduates
is predicted to be the best since 2000, according to Michigan State
University's annual Recruiting Trends survey. The top employers include
several accounting and consulting firms.
The survey respondents are ranked according to the projected number of
hires from college recruiting for the Class of 2005. The top 20 employers,
followed by their projected number of hires, are:
1 - Enterprise Rent-A-Car--7,000
2 - PricewaterhouseCoopers--3,170
3 - Ernst & Young LLP--2,900
4 - Lockheed Martin--2,863
5 - KPMG--2,240
6 - Sodexho, Inc.--2,050
7 - Fairfax County Public Schools--1,600
8 - Accenture--1,540
9 - Northrop Grumman--1,266
10 - United States Customs & Border Protection--1,200
11 - Target--1,127
12 - United States Air Force--1,095
13 - Raytheon Company--1,000
14 - Microsoft--970
15 - JPMorgan Chase--810
16 - Procter & Gamble--569
17 - Liberty Mutual--545
18 - Grant Thornton--500
19 - Bank of America--413
20 - United States Air Force Personnel Center/DPKR--400
According to the survey, economic sectors showing strength this year
include: retail, wholesale, transportation (not including airlines), health
services, entertainment and real estate.
February 28, 2005 reply from Jagdish Gangolly [JGangolly@UAMAIL.ALBANY.EDU]
Bob,
One can describe the reason for Accenture's needs for
accountants in ONE word: outsourcing.
The following is from www.accenture.com
webpage:
Outsourcing
Application Outsourcing
Business Process Outsourcing Accenture Finance Solutions-Accenture HR
Services-Accenture
Learning-Accenture Procurement Solutions-Accenture
Business Services for Utilities-Accenture eDemocracy Services-Navitaire-Accenture
Insurance Services
Infrastructure Outsourcing
Jagdish S. Gangolly,
Associate Professor
School of Business & NY State Center for Information Forensics &
Assurance
State University of New York at Albany BA 365C,
1400 Washington Avenue, Albany, NY 12222
email: j.gangolly@albany.edu
March 1, 2005 messages from Bob Jensen and Chuck Johnson
I hope Professor Johnson doesn’t mind if I share this with you. I suspect
this is partly conjecture on his part, but it is somewhat more than
conjecture. His reasoning makes sense to me. Apparently Enterprise has a
different business model than other car rental firms.
There may be some fast food chains with similar models.
Note that he also points out a possible error in defining what is an
“accounting graduate.” This also makes sense to me, although Enterprise
may have requirements for more accounting courses than the average business
graduate. I might add that this could be the case for some of the other
non-accounting firms in the list of the Top 20.
Bob Jensen
-----Original Message-----
From: Kenneth Johnson [mailto:kjohnson@GeorgiaSouthern.edu]
Sent: Tuesday, March 01, 2005 10:25 AM
To: Jensen, Robert
Subject: Re: Accounting Firms Hiring Thousands
Bob,
FYI, EnterpriesRent-a-Car's hiring of so many college
graduates is driven by the firm's basic business model. Enterprise has
thousands of small offices. When business volume at a particular location
reaches a certain point a new office is created a few miles away. The way I
understand it, each new hire does everything, from: taking reservations,
serving customers, picking up and dropping off customers, and even washing
cars. Their favorite hire is a graduate of modest academic achievement but
with lots of extracurricular activities and good people skills. I learned all
of this from a strategic management textbook I taught out of a few years ago;
Enterprise was a side-bar mini-case.
BTW, the way I read it, the 7,000 figure cited in the
2000 Michigan State University's annual Recruiting Trends survey was total
college graduates, not just accountants.
Thanks for the constant stream of interesting stuff.
Chuck Johnson
Bob Jensen's threads on accounting careers are at http://www.trinity.edu/rjensen/bookbob1.htm#careers
Quotations of the Week
Archives of Tidits: Tidbits Directory ---
http://www.trinity.edu/rjensen/TidbitsDirectory.htm
Yet another hit on women
Why so few women chess masters? America's top female player ponders the
question.
But Ms. Polgar is not someone who sees the
two sexes as the same. "I think women are built differently and approach life
very differently," she told me. And in a 2002 column for
ChessCafe.com,
she took on what might now be called the Lawrence Summers question. "If we talk
about pure abilities and skills, I believe there should be no reason why women
cannot play as well as men," Ms. Polgar wrote, but she went on to list various
reasons that more female players have not reached chess's highest ranks -- among
them their biological clocks, narrower opportunities to compete, cultural and
gender bias, and the fact that "for years, women have set much lower standards"
for themselves in chess than men. "If you do not put in the same work, you can't
compete at the same level," she said then
Barbara D. Phillips, "Envoy From the Sport of Kings And Queens, Bishops,
Knights," The Wall Street Journal, March 1, 2005; Page D9 ---
http://online.wsj.com/article/0,,SB110964485701166720,00.html?mod=opinion&ojcontent=otep
Gasp! When those pharaoh ants come
marching in
Researchers say if you see ants in the house, then they
should be taken into consideration if anyone has breathing problems. Many
insects (including cockroaches) have been reported to contribute to respiratory
problems. Now, the pharaoh ant joins the ranks of suspect insects. The tiny,
yellow pharaoh ant came from the tropics but can now be found just about
everywhere, having been carried throughout the inhabited world, say the
researchers. The ants live indoors for warmth. "Pharaoh ants nest in secluded
spots and favor temperatures between 80-86 degrees Fahrenheit," according to the
University of Nebraska web site. "These ants are frequent house invaders, often
found around kitchen and bathroom faucets where they obtain water." Researchers
Cheol-Woo Kim, MD, PhD, and colleagues found that pharaoh ants were responsible
for asthma in two middle-aged women . . .
Miranda Hitti, "Ants Can Cause Asthma, Allergies," WebMDHealth, February
25, 2005 ---
http://my.webmd.com/content/article/101/106095.htm?z=1728_00000_1000_tn_01
Jensen Comment: We owned a home in San Antonio for 20 years. Every winter
something triggered the march of the Pharaoh ants. It only happened for a few
days each winter, but they were almost microscopic and became so thick that they
almost looked like running water on counters and sinks. Ant traps in kitchen
and bathroom electrical outlets helped somewhat, but I think it was mostly a
matter of the ants marching to their own tunes that turned them on and off.. My
wife was a vigorous Pharaoh fighter. Fortunately, none of us noticed any
breathing difficulties arising from the march of the Pharaohs.
Audio interviews with familiar news anchors are online (who competed for
an amazing 21 years)
Also highlights some funny bloopers. And then there's Rev. Sharpton alleging
that the Nation of Islam in the U.S. has nothing to do with Islam.
This week in the magazine, Ken Auletta profiles Dan
Rather on the eve of his departure from the “CBS Evening News.” On October 2,
2004, Auletta moderated a panel discussion with Rather, Tom Brokaw, and Peter
Jennings, in the Celeste Bartos Forum of the New York Public Library, as part of
the sixth annual New Yorker Festival. Here, in three parts, is a recording of
that conversation.
"The Three Anchors," The New Yorker, February 28, 2005 ---
http://www.newyorker.com/online/covers/index.ssf?050307onco_covers_gallery
Listen to part one of the conversation.
Listen to part two of the conversation.
Listen to part three of the conversation.
This statistic surprised me: Fear of the outside versus reality of the
inside
Suicides outnumber homicides in the United States, and
some 90 percent of people who kill themselves suffer from a diagnosable and
preventable problem such as depression, a top mental health official said
Monday. Charles Curie, who heads the Substance Abuse and Mental Health Services
Administration in the U.S. Department of Health and Human Services, said
suicides in the United States run at about 80 a day or more than 29,000 a year,
three for each two homicides.
"Suicides Outnumber Homicides," CBS News, March 1, 2005 ---
http://www.cbsnews.com/stories/2005/03/01/health/main677132.shtml
Say what? "If you construct a career raging against the system, you can’t
stop raging just because the system has accepted you."
“To live outside the law, you must be honest.”
Thompson, like a lot of people in the sixties and seventies, interpreted Dylan’s
famous apothegm to mean that in order to be honest you must live outside the
law. By the time the fallacy in this reading became obvious, his persona, thanks
in part to the Uncle Duke figure in Garry Trudeau’s comic strip, but largely
because of his own efforts, was engraved in pop-culture stone. It’s an
occupational hazard: if you construct a career raging against the system, you
can’t stop raging just because the system has accepted you, or has ceased to
care or to pay attention. The anger needs someplace to go. At its best, in the
Nixon era, Thompson’s anger, in writing, was a beautiful thing, fearless and
funny and, after all, not wrong about the shabbiness and hypocrisy of American
officialdom. It belonged to a time when journalists believed that fearlessness
and humor and honesty could make a difference; and it’s sad to be reminded that
the time in which such a faith was possible has probably passed.
Louis Menand, "Believer," The New Yorker, February 28, 2005 ---
http://www.newyorker.com/talk/content/index.ssf?050307ta_talk_menand
Now it's almost certain there'll be
a remake of the movie about the
Hole in the
Wall Gang
(remember Butch and Sundance and their Hole in the Wall Gang )
Two Turkish prison inmates who drilled a nine
centimetre (3.6 inch) aperture between their cells, enabling them to have sexual
relations in prison that produced a child, received four-month sentences for
damaging public property.
Weird News, February 28, 2005 ---
http://weird-news.news.designerz.com/
Jensen Comment: These two murderers were convicted of planting a bomb in a
public market. Prison guards should've been more suspicious of how Kadriye
Fikret Oget could her hat on her cell's cement wall.
From MIT: Technology Review Index
Technology Review, of course, is all about the future,
and the companies and people involved in the innovation that will get us there.
It is in that spirit that we introduce the Technology Review Index, which
includes the TR Large-Cap 100 and its sibling, the TR Small-Cap 50. Developed in
conjunction with Standard and Poors, these global equity indices will serve as
our own in-house gauge of the pulse of innovation at 150 of the worlds most
important public companies. Our two indices will track both the most powerful
innovators and the up-and-comers in the 10 most innovative industries of the
global economy. The performance of these indices will be updated daily on our
online platform at
www.technologyreview.com/TRIndex .
Duff McDonald, 'Introducing the Technology Review Index," MIT's Technology
Review, March 2005 ---
http://www2.technologyreview.com/articles/05/02/trindex/tri_mcdonald021105.asp
There are no facts, but
only interpretations.
Friedrich Wilhelm Nietzsche
Sarbanes Oxley Blues
What the business world now calls
SOX is a law passed that forces auditing firms to provide better audits at a
substantially increased cost to their clients. We now have a new song that is
not exactly a celebration of SOX.
From:
Mike Kennelley [mailto:MKennell@jbu.edu]
Sent: Tuesday, March 01, 2005
8:24 AM
To: escribne@nmsu.edu
Subject: Sarbanes-Oxley Blues
If you haven't heard this one,
turn on those speakers and enjoy . . .
http://www.headwatersmb.com/content/audio_02.html
Pull your SOX up boss (remember Marlon Brando in
Teahouse of the August Moon)
More than 500 public companies have reported
deficiencies with their internal accounting controls under a controversial new
federal rule -- a figure sure to feed the continuing debate about the cost and
usefulness of recent efforts to strengthen corporate governance. To backers,
the volume of disclosures demonstrates that the new rule, part of the 2002
Sarbanes-Oxley corporate-accountability law, is pushing a lot of U.S. companies
into line. But business groups complain that it's costing them a lot of money
and effort to turn up deficiencies that in most cases are inconsequential.
Deborah Solomon, "Accounting Rule Exposes Problems But Draws
Complaints About Costs," The Wall Street Journal, March 2, 2005; Page A1
---
http://online.wsj.com/article/0,,SB110971840422767575,00.html?mod=home_whats_news_us
Bob Jensen's threads on reforms are at
http://www.trinity.edu/rjensen/FraudProposedReforms.htm
UNC student badly beaten: Hate crime
Police say an attack on a gay student who was beaten by
a gang of six or seven men was a hate crime, but no witnesses have come forward
to help investigators. The victim suffered broken bones but wasn't hospitalized,
police said. His attackers, described as six or seven white males around the age
of 20, have not been identified. The student was walking alone around 2 a.m.
Friday near the intersection of Franklin and Columbia streets when he was
taunted by the group of ...
"Police: UNC student's beating a hate crime," News-Record, March 1, 2005
---
http://www.news-record.com/news/now/uncbeating_030105.htm
Big
Spenders Managing Our 50 States
The longer a Republican stays in office the more likely
he will be a big spender. The rankings cover all of a governor's time in
office. George Pataki's B would drop to a C without his first term, when he
slashed New York taxes. He has since increased spending so much that a huge tax
increase passed over his veto. If Bill Owens were judged just by his recent
attempts to alter Colorado's tax limitation law, he would not be considered A
material. Florida's Jeb Bush, who earned an A two years ago, has slipped to a B
after endorsing more bloated budgets. Finally, we'll note the bipartisan nature
of Cato's F students: Republican Bob Taft of Ohio and Democrat Edward Rendell of
Pennsylvania.
"Grading the Governors," The Wall Street Journal, March 1, 2005;
Page A18 ---
http://online.wsj.com/article/0,,SB110964266317966659,00.html?mod=opinion&ojcontent=otep
Jensen Comment: This article ranks and grades all 50 governors. Rick Perry
from Texas comes in at Rank 12 with a B grade. The two F grades are assigned to
Ed Rendell (Pennsylvania) and Bob Taft (Ohio). The Girlie Boy from La La Land
heads the list with an A grade.
And this is where the "Big Spenders" get a lot of your money (but not in
New Hampshire --- hip hip hooray)
The 2004 Sales Tax Rate Report released by Vertex Inc.,
shows the average sales tax rate in 2004 reached a record high of 8.587 percent,
up from 8.5336 percent in 2003. This increase completes a four- year upward
trend in the average sales tax rate that began in 1999 when the average rate was
8.231 percent. "Local jurisdictions continue to function with less federal and
state funding and look to sales tax rate increases as one method to help fill
the gap for local program financing," says Diana DiBello, Director of Tax at
Vertex. "The high number of tax decreases are tied mainly to election year
politics but were not enough to lower the overall effective tax rate."
"Average Combined Sales Tax Rate Reaches Record Level," AccountingWeb,
February 24, 2005 ---
http://www.accountingweb.com/cgi-bin/item.cgi?id=100573
But those of us in New Hampshire aren't "tickled" by this report
A study conducted by Tickle Inc., an online career
assessment testing company, has found workers in the Northeast fall far below
other regions in many key areas of job satisfaction. Survey results show overall
job happiness is strongly tied to a healthy work-life balance and strong company
leadership. New England falls far below the national average in both categories,
while the Midwest and South lead the country in both areas. Tickle's study also
found that women maintain a healthier work-life balance than men and are
therefore more satisfied in their jobs.
"Study Reveals Midwest and South Offer Best Work-Life Balance," AccountingWeb,
February 28, 2005 ---
http://www.accountingweb.com/cgi-bin/item.cgi?id=100562
Jensen Comment
Hurricane winds recycling the snow:
Those in New Hampshire aren't especially "tickled" by the Mt. Washington weather
review for March 1
(sure glad I'm teaching in Texas at the moment)
Snow came in later then expected, with the first flake
falling just after one this morning. I didn't actually observe the first flake,
for it brought many wind blown friends. Temperatures have been varying all
night, ranging from two to twelve degrees. Winds from the East are driving snow
through every crack of the building, though I think that is the only point of
accumulation. At last observation, I didn't see any of this snow actually
sitting on the observation deck, as hurricane force
winds have escorted it off the summit, though I'm
not worried. We'll reacquaint ourselves soon enough, once the winds shift back
to our prevailing west to northwest direction, blowing the snow from one end of
the mountain, back to the other.
March 1, 2005 summit report ---
http://www.mountwashington.org/weather/index.php
Entitlements Endings to the Western
World
The U.K., like the rest of the developed world, has a pension-funding crisis. A
pay-as-you-go system that was easy and cheap to finance when there were lots of
workers and fewer retirees than now -- with shorter life expectancies -- is
groaning under the strain as fewer workers support more retirees for longer.
Luckily for Britain, it has a couple of things going for it that its neighbors
on the Continent can only wish for. The most important is extensive private,
funded pension systems that still support many British workers in retirement.
For these workers, contributions made to a defined-benefits pension system over
the years have been invested on their behalf, and when they retire they will
draw, in theory, a fixed sum based on their salary before retirement. We say
"in theory" because the British defined-benefit funds have come under
considerable strain themselves of late. Post-bubble lethargy in the stock market
is partly to blame, but a major culprit is one of Chancellor of the Exchequer
Gordon Brown's stealth tax hikes since Labour took office in 1997. In his first
budget in 1997, the chancellor eliminated a 20% tax credit that pension funds
enjoyed on dividends paid to the funds.
"Wrong-Way Tories," The Wall Street Journal, March 1, 2005 ---
http://online.wsj.com/article/0,,SB110962946093366264,00.html?mod=opinion&ojcontent=otep
Bob Jensen's
unfinished essay on the "Pending Collapse of the United
States" ---
http://www.trinity.edu/rjensen/entitlements.htm
Days of AK-47s: Are revolutions a permanent way of life in Africa?
It is a surprise when some states collapse. But the gradual unwinding of Nigeria
is happening in a very public manner. The collapse of this giant -- the
continent's most populous state, whose 137 million citizens account for
approximately 20% of all people south of the Sahara -- may soon be the most
pressing issue in Africa. President Olusegun Obasanjo was first elected in 1999
as Nigeria transitioned to multiparty democracy after the disastrous five-year
rule of Gen. Sani Abacha. He won another term in 2003 in elections that had
numerous irregularities and remain a source of bitterness. Mr. Obasanjo has also
had to confront Nigeria's disastrous economic decline and its extraordinary
corruption. Although he retains a good reputation in the West -- in part due to
U.S. and European fears that highlighting Nigeria's many problems will only
undermine a leader with good intentions -- he has often been indecisive in the
face of threats to the very fabric of the country.
Jeffrey Herbst, "The Ticking Time Bomb That's Nigeria," The Wall Street
Journal, March 1, 2005 ---
http://online.wsj.com/article/0,,SB110963165703166333,00.html?mod=opinion&ojcontent=otep
How to keep people poor for a longer period of time
The annual budget speech in India has typically been
more than an accounting statement. It is seen as the government's
all-encompassing reform program for the year. Ideally then, this year's budget
speech should have stressed the need to reduce the inordinately large role of
government in the country's economic sphere. It could have included measures
such as liberalizing limits on foreign direct investment, increasing the pace of
privatization and deregulating the labor market. However, given India's
political climate, there was never much prospect of such a free-market agenda.
The Congress-led coalition government is reliant on communist parties to remain
in power. And last year's surprise national election results have, for some
strange reason, weakened the faith of India's political class in good economics.
Ruchir Sharma, "Keeping Out Bad Ideas in India," The Wall Street Journal,
March 1, 2005 ---
http://online.wsj.com/article/0,,SB110963215352066349,00.html?mod=opinion&ojcontent=otep
Remember that you heard this first
from the LA Daily News on February 27, 2005
Marriage Is About More Than Sexuality
Los Angeles Daily News, Feb. 27
Oestrogen and progesterone: Small
sample, big result
Looking at 62 women - half taking the combined pill,
oestrogen and progesterone - researchers found that those on the pill had twice
the incidence of depressive symptoms as those not taking it. None of the women
had a history of depression. Levels of depression were assessed by each woman
and an interviewer at two-month intervals. The women on the pill had a
depression rating of 17.6, compared with 9.8 in the others. "To our surprise,
on re-interview we found that women who were on the pill had higher levels of
depression than women who were not on the pill, and it was significantly
higher," said the director of The Alfred Psychiatry Research Centre, Jayashri
Kulkarni. She said a larger study would investigate the effects of the type of
pill, duration of use and dosage levels.
Amanda Dunn, "Depression emerges as the pill's downside," Sydney Morning
Herald, March 1, 2005 ---
http://www.smh.com.au/text/articles/2005/02/28/1109546799438.html
Why Business People Speak Like
Idiots
Here's the kind of guff that we've all had about enough of (and if you've
already had more than enough, feel free to skip ahead): "Technological
innovation, globalization, complex regulation and increased accountability at
the senior management and board level have all combined to significantly change
the landscape of risk management today. To help address these issues, our
security professionals deliver services to address the various elements of
security and trust associated with communicating, transacting and accessing in
this environment."
Why Business People Speak Like Idiots (Free
Press, 175 pages, $22) aims to put prose like that -- especially the spoken
version of it -- out of its misery. Good idea.
Barbara Wallraff, "Assessing the Parameters Of Issue-Driven
Discourse," The Wall Street Journal, March 1, 2005, Page D9 ---
http://online.wsj.com/article/0,,SB110964096311766617,00.html?mod=opinion&ojcontent=otep
Newt Gingrich (a professor turned
politician) thinks it's time to get rid of tenure
I'm glad he didn't have tenure while in Congress?
According to a report on The National Review's Web
site, Gingrich on Friday said that the Ward Churchill controversy shows that
"you don't need tenure in this country anyway." Gingrich said that there are "75
whacked-out foundations that would hire him for life." More broadly, Gingrich
reportedly told an audience at the American Enterprise Institute: "We ought to
say to campuses, it's over. We should say to state legislatures, why are you
making us pay for this? Boards of regents are artificial constructs of state
law. Tenure is an artificial social construct. Tenure did not exist before the
20th century, and we had free speech before then. You could introduce a bill
that says, proof that you're anti-American is grounds for dismissal." There are
lots of arguments about tenure, of course, and plenty of critics of the tenure
system are not seeking to squelch controversial ideas. Some younger scholars see
tenure protecting professorial deadwood in jobs they covet. Princeton's
president, Shirley Tilghman, once published an article (which she disavowed
after getting her current job) suggesting that the tenure system hurt female
academics because of the overlap in scholars' lives between the period for
winning tenure and having children. But Gingrich's statement that free speech
existed prior to tenure is worth examining.
Scott Jaschik, "Ward & Newt & Tenure," Inside Higer Ed, February
28, 2005 ---
http://www.insidehighered.com/insider/ward_newt_tenure
And if you want to learn more about the
future (in his dreams) President of the United States, the place to begin is as
follows:
Winning the Future: A 21st Century Contract for America, by Newt Gingrich
(Regnery Publishing, 320 pp., $27.95)
Student selection and pricing
structure of higher education
One confusing thing about the higher education industry is the conflict between
social goals and economic choices. The trend toward universal access to higher
education has led to the notion that everyone should be able to find a route
into higher education that matches interest, preference, ability and economic
circumstance. This in turn has focused attention on the student selection and
pricing structure of higher education, a topic of infinite interest,
controversy, and confusion.
John V. Lombardi, "Reality Check Who Gets In, What It Costs," Inside Higher Ed,
February 28, 2005 ---
http://www.insidehighered.com/views/reality_check__2
Might be better to let the bag sag
Already wondering about how to fit into that bathing
suit? Thinking about an extreme diet? Think again.
Barry Wolcott, MD, "Extreme Weight Loss," WebMDHealth ---
http://my.webmd.com/content/article/89/100184.htm?z=1728_00000_1000_td_01
There is also a bipolar disorder
questionnaire at
http://my.webmd.com/webmd_today/home/default
BrainGate
Nagle, 25, is the first patient in a controversial
clinical trial that seeks to prove brain-computer interfaces can return function
to people paralyzed by injury or disease. His BCI is the most sophisticated ever
tested on a human being, the culmination of two decades of research in neural
recording and decoding. A Foxborough, Massachusetts-based company called
Cyberkinetics built the system, named BrainGate.
Richard Martin, "Mind Control," Wired Magazine, March 2005 ---
http://www.wired.com/wired/archive/13.03/brain.html?tw=wn_tophead_5
Primary care versus specialty care
Quad/Graphics has organized health care by using
primary-care physicians for navigating and negotiating both illness and the
health-care system for their employees ("Radical Surgery: One Cure
for High Health Costs," WSJ, page one, Feb. 11). This
contrasts to our present dominant health-care system driven by a
physician-payment system that uses Current Procedural Terminology codes for
episodic encounters. Paying for episodic encounters makes sense for specialty
care but not for continuity of care where intimate knowledge of patients is the
primary goal as an essential of care. Our health-care system needs a
physician-payment system that integrates both functions. The results as reported
strongly suggest that Quad/Graphics has put in place a workable and prototypic
model. If this holds true, the task becomes how to generalize this to others:
the young, the old, the unemployed, the uninsured and the underinsured.
John C. Peirce, M.D., M.A., M.S., "Physicians Who Negotiate Illness and Health
System," The Wall Street Journal, February 28, 2005; Page A17 ---
http://online.wsj.com/article/0,,SB110955954467465621,00.html?mod=todays_us_opinion
Jensen Comment: You can read about Current Procedural Terminology at
http://www.ama-assn.org/ama/pub/category/3113.html
AIDS antiviral therapies
As a group, AIDS antiviral therapies have extended
lives of individual patients by as much as 15 years, for a collective two
million years of life saved in the U.S. since such drugs came into use in the
late 1980s, said Rochelle Walensky of Harvard Medical School. She said her study
with co-workers at Harvard, Massachusetts General Hospital, Yale, Cornell and
Boston University represents "an underestimate" of the drugs' benefit. Despite
more than 20 drugs on the market and many more in the pipeline, far too few
patients are now able to access needed treatment, U.S. health statisticians said
Friday.
Marilyn Chase, "AIDS Scientists Cite Modest Gains," The Wall Street Journal,
February 28, 2005, Page B4 ---
http://online.wsj.com/article/0,,SB110955131006765463,00.html?mod=todays_us_marketplace
Also see "New Therapies Boost AIDS
Arsenal," Wired News, February 26, 2005 ---
http://www.wired.com/news/medtech/0,1286,66731,00.html?tw=wn_tophead_6
Having an 800 pound gorilla living
next door can be unsettling
That Southeast Asians -- above all the Vietnamese and
the Indonesians -- would regard China's rise with a weary eye is to be expected.
Vietnam has historically feared domination by its former overseer. Indonesia has
always suspected that China would use the large and successful ethnic Chinese
community as a fifth column. Singapore is leery, too. But in the past few
months China has managed to alienate its Northeastern neighbors as well. Even
South Korea -- where the fascination with things Chinese was growing apace with
economic dependency -- has been put off by a series of mishandled events.
Chinese security goons raided and broke up a press conference in Beijing by a
group of South Korean parliamentarians last month. Later, brushing aside a plea
from Seoul, China sent back to North Korea a poor, 72-year-old South Korean POW
from the 1950-53 war who had managed to escape after decades in the gulag. And,
of course, China's claim that a chunk of North Korea is historically Chinese has
not gone down well at all. Some South Korean intellectuals are beginning to
ponder how salutary China's rise is for the long-term health of the Korean
nation.
Michael gonzalez, "Fear and Loathing in East Asia," The Wall Street Journal,
February 28, 2005; Page A17 ---
http://online.wsj.com/article/0,,SB110954572850965312,00.html?mod=todays_us_opinion
Praise the Lord
Former U.S. Federal Reserve Chairman Paul Volcker, who
heads a body overseeing international accounting-standards setters, rejected
calls by the European Union for a greater say in how these rules are crafted.
Speaking in Brussels before a group that advises the European Commission on
accounting issues, Mr. Volcker said representation on the International
Accounting Standards Board, the body that crafts the rules, shouldn't be based
on "national, political or sectoral interests."
David Reilly, "Volcker Rejects EU Plan for IASB," The Wall Street Journal,
Page February 28, Page C3 ---
http://online.wsj.com/article/0,,SB110954949853865424,00.html?mod=home%5Fwhats%5Fnews%5Fus
The law, in its majestic equality, forbids the rich as
well as the poor to sleep under bridges.
Anatole France
Think
Bloomingdales: A victory for New York City
Bowing to intense pressure from neighborhood and labor
groups, a real estate developer has just given up plans to include a Wal-Mart
store in a mall in Queens, thereby blocking Wal-Mart's plan to open its first
store in New York City. In the eyes of Wal-Mart's detractors, the Arkansas-based
chain embodies the worst kind of economic exploitation: it pays its 1.2 million
American workers an average of only $9.68 an hour, doesn't provide most of them
with health insurance, keeps out unions, has a checkered history on labor law
and turns main streets into ghost towns by sucking business away...
Robert B. Reich, "Don't Blame Wal-Mart," The New York Times, February 28,
2005
Jensen Comment: Vermont has also banned Wal-Mart, which is one of the reasons
why the roadways are clogged with stuffed green-license-plate cars and trucks
returning home from New Hampshire. Why don't Vermonters stay home and shop in
their own villages' stores?
What
happened to "stretch suits" now that I need them?
The man of the house is spending more money on his
wardrobe. This spring, men will be able to pick from broadened selections of
red, black and brown candy-striped shirts, and many stores will offer the new
stretch suits.
Flashback, The Wall Street Journal, February 28, 1963
Jensen comment: No mention is made that beads and sandals were also
popular in 1963
A bit of history: Who were our
allies in the WW II era?
France was not an ally, for the Vichy government of
France aligned with its German occupiers. Germany was not an ally, for it was an
enemy, and Hitler intended to set up a Thousand Year Reich in Europe. Japan was
not an ally, for it was intent on owning and controlling all of Asia. Japan and
Germany had long-term ideas of invading Canada and Mexico, and then the United
States over the north and south borders, after they had settled control of Asia
and Europe. America's allies then were England, Ireland, Scotland, Canada,
Australia, and Russia, and that was about it. There were no other countries of
any size or military significance with the will and ability to contribute much
of anything to the effort to defeat Hitler's Germany and Japan, and prevent the
global dominance of Nazism. And we had to send millions of tons of arms,
munitions, and war supplies to Russia, England, and the Canadians, Aussies,
Irish, and Scots, because none of them could produce all they needed for
themselves.
Forwarded by Dick Haar, February 28, 2005
Jensen: During the ensuing Cold War era and for the Gulf War, we had a few more
allies, some of whom were former enemies.
And he
awoke to a mess
I have this uncle, Rip Van Garver, who just woke up
after sleeping for 30 years. Some people think he slept so long because he was
exhausted from working so hard as a political activist during the '60s and early
'70s. Personally, I just think he found a comfy pillow. Regardless, here's the
transcript of our first conversation: Me: Uncle Rip, how are you feeling? Rip:
I'm okay. But I really need to brush my teeth. What year is it? Me: 2005. Rip:
Wow. I've got a library book I better return pronto. So, nobody blew up the
world. I...
Lloyd Garver, "Caught Napping? Jewish World Review, February 28, 2005 ---
http://www.jewishworldreview.com/0205/garver1.asp
This does not mean that eating it
will make you live longer
Ancient Chinese craftsmen used a secret ingredient to
keep their structures standing through the centuries: sticky rice. The legend
that rice porridge was used in mortar to make robust ramparts is believed to
have been verified by archaeological research in the north-western province of
Shaanxi, the state news agency Xinhua reported. During maintenance work on the
city wall of the provincial capital, Xi'an, workers found plaster remnants on
ancient bricks were hard to remove. A chemical test showed the mortar reacted
the same as glutinous rice.
"Stick around," Sydney Morning Herald, March 1, 2005 ---
http://www.smh.com.au/text/articles/2005/02/28/1109546800854.html
"Morally Bankrupt," The New Republic,
February 25, 2005 ---
http://snipurl.com/TNRbankruptcy
We are beginning to
wonder if the debate over Social Security privatization is a mere GOP
diversionary tactic: Get Democrats to commit all their resources to a
knockdown drag-out over retirement benefits, then quickly ram through a host
of items off the business lobby's wish list. Exhibit A is the Bankruptcy Abuse
Prevention and Consumer Protection Act--the latest name for a bill that
Congress has been rejecting since the late '90s--which the Judiciary Committee
approved last week and looks set for passage in the coming weeks.
Bankruptcy laws are
supposed to balance the interests of creditors with debtors as well as balance
society's interest in encouraging people to take risks (such as taking out a
loan to start a business) with its interest in ensuring that the risks they
take are not foolish ones (such as borrowing money to play the ponies). U.S.
bankruptcy laws have generally done a good job of striking this balance and
have thus contributed to an economy that is among the most entrepreneurial in
the world. What's more, they have codified a progressive and long-standing
American value: the belief in second chances.
By these measures,
the bankruptcy bill is a catastrophe. Under the current system, bankruptcy
courts have broad discretion to decide who can file for Chapter 7, which
allows debtors to erase their obligations after forfeiting a state-determined
percentage of their remaining assets, and Chapter 13, which requires strict
repayment according to court-ordered schedules. Judges base their decisions as
much on why the debt was accrued as on income; this way people who come into
debt through no fault of their own can get a fresh start, while a judge can
decide that a careless gambler must pay what he owes. But the new bill would
replace judicial discretion with a means test on household income--those above
a certain level would be forced to file for Chapter 13 bankruptcy--dismantling
the system's ability to discriminate among worthy and unworthy debtors.
Continued in the article
Loss of a Great Economist to a Fire
The world lost a great economist last week, when David
F. Bradford succumbed to injuries suffered in a fire. David was the father of
modern consumption tax philosophy, and the most important contributor of the
last few decades to serious thinking about fundamental tax reform. When people
think of replacing the income tax with a consumption tax that can achieve
whatever level of progressivity one prefers, they think of two main models. The
first, sometimes called a consumed income tax, structurally resembles our
present system for taxing individuals, except that people get unlimited savings
accounts, like IRAs, contributions to which may be deducted while withdrawals
are taxed. During his time at the Treasury Department in the 1970s, David
developed what is still by far the best prototype for such a system: the
so-called "Blueprints" cash flow tax that he discussed in detail in his landmark
study, "Blueprints for Tax Reform." The other main prototype, involving a
business-level as well as an individual-level tax, has as its best-known
exemplar the Hall-Rabushka flat tax (after the economists Robert Hall and Alvin
Rabushka), which I believe David helped inspire. He then used the flat tax as a
starting point for developing what he called the "X-tax," a better-designed
version that could be more progressive than the flat tax, if desired, and that
did a better job of handling problems such as transition from the existing
income tax and rate changes between taxable years.
Daniel Shaviro, "David Bradford," The Wall Street Journal, March 1, 2005,
Page A18 ---
http://online.wsj.com/article/0,,SB110964406044966694,00.html?mod=opinion&ojcontent=otep
Part of a message received from a friend on March 1, 2005
This is a letter that friend received from a top administrator at Purdue
University. I assume PAA stands for the Purdue Alumni Association.
Dear XXXXX,
Thank you for your
email, and for your consideration of our request to support PAA. The alumni
association does receive a percentage of the total amount of charges submitted
by our alumni who use the card. We are precluded by contractual arrangements
from disclosing the percentages or amount but I can tell you that this is a
significant revenue source for the alumni association.
The revenue from this
program is used in a variety of ways to support the programs and services
offered to our alumni and members. These funds help support our outreach
efforts such as alumni clubs, student recruitment events, Purdue on the Road
events. In addition these funds help support the Faculty Incentive Grant
program to assist in faculty development, Diversity Grants to support diverse
programming efforts and Legacy events that highlight Purdue students whose
parents are graduates of Purdue as well.
In addition to the
financial support is another way to market Purdue throughout the world. Every
time someone pulls the card out of their wallet they are marketing Purdue for
us.
I am more than happy
to answer any further questions you might have and thank you for your email.
It is very important for our alumni to be informed about our programs and I
appreciate your thoughtful questions.
Best wishes,
YYYYY
Purdue University
Jensen Comment
One of my friends forwarded the above message. It
reflects what is commonplace now among alumni associations of colleges. These
associations promote a particular credit card company and receive revenue for
this service on purchases of alumni and students. I suspect it is not unethical
as long as alumni and students are aware of all facts in the situation. The
letter above does not mention that alumni associations generally forward more
than names and addresses to credit card companies and possibly other vendors. I
have some concerns when they forward social security numbers without express
written consent for alumni. I also have concerns when alumni are not aware of
how or who is receiving confidential information from alumni associations.
I have
written previously about this general practice at
http://www.trinity.edu/rjensen/FraudReporting.htm#FICO
I think the credit card companies want the home addresses and social security
numbers of all alumni and students so that FICO ratings can be investigated
before inviting an alumnus or student to apply for a University of ZZZZZ credit
card.
An investment in knowledge
always pays the best interest.
Benjamin Franklin as quoted by Mark Shapiro at
http://irascibleprofessor.com/comments-03-03-05.htm
Barry Cushing passed away on March 1, 2004.
It is a great sadness to me, because Barry was once one of my
doctoral students. I am grateful for our last evening together in Orlando last
August. Barry led an exemplary life as an accounting educator/researcher and as
a human being. This is a great loss.
His Web page is at
http://home.business.utah.edu/~actbec/
I love it and use it all the time. If some module has it wrong, users can
easily fix it up themselves.
Jimmy Wales wanted to build a free encyclopedia on the
internet. So he raised an army of amateurs and created the self-organizing,
self-repairing, hyper-addictive library of the future called Wikipedia ---
http://www.wikipedia.org/
Daniel H. Pink, "The Book Stops Here," Wired Magazine, March 2005 ---
http://www.wired.com/wired/archive/13.03/wiki.html?tw=wn_tophead_4
Jensen Comment: When I tried adding my own modules., Jimmy wrote back
(seriously) that he liked the material didn't have enough hard drive to put up
my long modules. He thought I was just too verbose. Can you believe that?
(Don't answer, please.)
Now I'm even more grateful for the generosity of Information Technology Services
(ITS) at Trinity University and my good friends with big servers in the Computer
Science Department. Please get well and hurry back Gerald Pitts.
(I operate out of more than one server here at Trinity. And please, no jokes
about hogs from Iowa.)
No, surely not in my case
In the early '90s, psychiatrists and clinicians were
beginning to hear of a new medical term, "internet addiction." At first, this
was met with a lot of skepticism and denial, however, it became evident that the
more people logged on to cyberspace, the more they got hooked. The 10 Symptoms
You Need To Watch Out For:
AskMen.com ---
http://www.askmen.com/fashion/body_and_mind/16_better_living.html
This report from the Pew Internet & American Life Project, authored by Lee
Rainie and John Horrigan, takes a critical look at how the Web has mainstreamed
into our lives, which is certainly the case in my life.
Internet: The Mainstreaming of Online Life ---
http://www.pewinternet.org/pdfs/Internet_Status_2005.pdf
Beware of your tax preparer: Just say no to loans based upon anticipated
tax refunds
A refund-anticipation loan is a bank loan, short-term
borrowing based on the amount you expect from your federal tax refund. It is
also a popular marketing tool for the big tax-preparation companies, appealing
especially to people living from paycheck to paycheck. In some limited
circumstances, refund-anticipation loans can be beneficial. But for most people,
"they're completely unnecessary, an extremely expensive drain on expected refund
money," said Jean Ann Fox, director of consumer protection at the Consumer
Federation of America. "It's money out of the pockets of the working poor," Fox
said. The federation and the National Consumer Law Center have been leading the
campaign against refund-anticipation loans for several years, with some success.
Fees have dropped and disclosures have improved. But that doesn't change the
fact that these so-called instant refunds, with interest rates to make usurers
blush, are an expensive way to get use of your own money for a few extra days.
Kevin G. Demarrais, "Quick cash back comes at a cost: Have a bit of patience,
and enjoy your whole tax refund," Houston Chronicle, February 27, 2005
---
http://www.chron.com/CDA/umstory.mpl/business/3058554
Bob Jensen's threads on consumer frauds are at
http://www.trinity.edu/rjensen/FraudReporting.htm
Just
another settlement day at Merrill Lynch
Bucking a spate of previous rulings favorable to the securities industry,
arbitrators ordered
Merrill Lynch & Co. to pay a Florida couple more than $1 million for failing
to disclose that its analysts had conflicts of interest in recommending stocks.
Jed Horowitz, "Merrill Ordered to Pay 2 Clients Over Analyst Conflicts on
Stocks," The Wall Street Journal, March 1, 2005; Page C3 ---
http://online.wsj.com/article/0,,SB110962110354266151,00.html?mod=todays_us_money_and_investing
Jensen Comment: Merrill Lynch has one of the worst fraud records on Wall
Street. Eliot Spitzer once claimed he had enough smoking guns to bring down
Merrill Lynch if he chose to do so. You can read more by searching for
"Merrill" at
http://www.trinity.edu/rjensen/fraudrotten.htm
FTC Annual Fraud Report
The FTC of the US has released its Annual Fraud Report, in which, among other
things, it reports an increase in identity theft, amounting to losses of as much
as $548 million in the US alone.
FTC: Identity theft, online scams rose in '04 -
Computerworld
Gerald Trite's Business Blog, February 17, 2005 ---
http://www.zorba.ca/blog.html
Bob Jensen's fraud updates are at
http://www.trinity.edu/rjensen/FraudUpdates.htm
FTC helpers if suspect someone else has become you ---
http://www.ftc.gov/bcp/conline/pubs/credit/idtsummary.pdf
FTC helpers in getting your credit report and FICO score
---
http://www.ftc.gov/bcp/conline/edcams/credit/index.html
FTC consumer warnings ---
http://www.ftc.gov/ftc/consumer.htm
Does employee blogging activity
pose a threat to enterprise security? According to Alyn Hockey, director of
research at Clearswift, it does, and on two fronts. "Blogging has definitely
emerged as a potential security threat," Hockey says. "Especially when practiced
by disgruntled or malicious employees. But simple carelessness is also a factor.
They don't necessarily have to have bad intentions to do some damage to a
company's brand and reputation."
John K. Waters, "Blogging: New threat to enterprise security?" ADT Newsletter,
March 3, 2005 ---
http://newsletters.101com.com/sdg/n.asp?pc=HWEB03&nl=23,38,44,36
Bob Jensen's threads on blogging are at
http://www.trinity.edu/~rjensen/245glosf.htm#Weblog
Blame it on us baby boomers!
Alan's implying that I'm going to be collecting more than you working stiffs
can afford.
Common now, you can work harder than you've been working: Push that barge and
lift that bail
"I fear that we may have already committed more
physical resources to the baby-boom generation in its retirement years than our
economy has the capacity to deliver. If existing promises need to be changed,
those changes should be made sooner rather than later. We owe future retirees as
much time as possible to adjust their plans for work, saving, and retirement
spending. They need to ensure that their personal resources, along with what
they expect to receive from the government, will be sufficient to meet their
retirement goals.
Testimony of Chairman Alan Greenspan Economic outlook and current fiscal issues
Before the Committee on the Budget, U.S. House of Representatives March 2, 2005
My unfinished essay on the "Pending
Collapse of the United States" ---
http://www.trinity.edu/rjensen/entitlements.htm
Once again, blame it on us baby boomers!
Bodiford experienced what many Americans may soon face:
a shortage of physicians that makes it hard to find convenient, quality health
care. The shortage will worsen as 79 million baby boomers reach retirement age
and demand more medical care unless the nation starts producing more doctors,
according to several new studies. The country needs to train 3,000 to 10,000
more physicians a year — up from the current 25,000 — to meet the growing
medical needs of an aging, wealthy nation, the studies say. Because it takes 10
years to train a doctor, the nation will have a shortage of 85,000 to 200,000
doctors in 2020 unless action is taken soon. The predictions of a doctor
shortage represent an abrupt about-face for the medical profession. For the past
quarter-century, the American Medical Association and other industry groups have
predicted a glut of doctors and worked to limit the number of new physicians. In
1994, the Journal of the American Medical Association predicted a surplus of
165,000 doctors by 2000.
"Medical miscalculation creates doctor shortage," USA Today, March 3,
2005 ---
http://www.usatoday.com/printedition/news/20050303/1a_cover03.art.htm
Note to AARP: Australians seem to like their form of
private account social security
Clare says the people least likely to shift are those
in industry or public defined benefit funds, where many receive above the super
guarantee from their employers plus other benefits. People who are happy with
their fund and elect to keep it when they change jobs will be among the main
drivers of choice. That is, they will exercise choice by rejecting their new
employer's default fund. With about 20 per cent of the workforce changing jobs
each year, this is a significant group.
"A switch in time," Sydney Morning Herald, March 2, 2005 ---
http://www.smh.com.au/text/articles/2005/03/01/1109546861995.html
Robin Square Tape
Comedian Robin Williams said it all when he walked on
stage with a piece of white tape over his mouth. Williams was to have performed
a song lampooning conservative critic James Dobson, whose group had criticised
cartoon character SpongeBob SquarePants for appearing in a video it branded
"pro-homosexual." . . . Marc Shaiman, who wrote Williams' original routine, said
he decided to withdraw the material after ABC raised objections that would have
led to him re-writing 11 of 36 lines. ABC declined to comment.
"Censorship at Oscars irks many," Aljazeera, March 1. 2005 ---
http://english.aljazeera.net/NR/exeres/AA763FF7-03FC-40F4-AD8C-53A449F3CE5C.htm
Phoenix, Oregon Citizen Square Tapes
In wake of Maryland Gov. Robert Ehrlich's ban on state
employees speaking to two Baltimore Sun staffers and an Ohio mayor's prohibition
on city employees speaking to the local Business Journal, a small town Oregon
mayor has announced that all media contact with town officials or employees must
be made through her office.
"Another Government Official Bans Contact with Press," Editor and Publisher,
March 2, 2005 ---
http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1000825822
We would hate to have Senator Byrd be remembered as a
champion of minority rights movement
At 9:51 on the morning of June 10, 1964, Senator Robert
C. Byrd completed an address that he had begun fourteen hours and thirteen
minutes earlier. The subject was the pending Civil Rights Act of 1964, a measure
that occupied the Senate for fifty-seven working days, including six Saturdays.
A day earlier, Democratic Whip Hubert Humphrey, the bill's manager, concluded he
had the sixty-seven votes required at that time to end the debate. . . . Never
in history had the Senate been able to muster enough votes to cut off a
filibuster on a civil rights bill. And only once in the thirty-seven years since
1927 had it agreed to cloture for any measure.
"Civil Rights Filibuster Ended," U.S. Senate, June 10, 1964
---
http://www.senate.gov/artandhistory/history/minute/Civil_Rights_Filibuster_Ended.htm
There's that N-word again
A pair of Jewish groups accused Sen. Robert Byrd on
Wednesday of making an outrageous and reprehensible comparison between Adolf
Hitler's Nazis and a Senate GOP plan to block Democrats from filibustering. A
GOP senator called for Byrd to retract his remarks. Byrd spokesman Tom Gavin
denied that Byrd, D-W.Va., had compared Republicans to Hitler. He said that
instead, the reference to Nazis
in a Senate speech on Tuesday was meant to underscore that
the past should not be ignored....
Alan Fram, "GOP Jewish Group Critizes Byrd's Remarks," MyWay, March 2,
2005 ---
http://apnews.myway.com/article/20050303/D88J6OG00.html
The Anti-Defamation League (ADL)
expressed outrage at the remarks of West Virginia Senator Robert Byrd, who
suggested that some Republican tactics on judicial nominations were similar to
Adolf Hitler's use of power in Nazi Germany. In remarks from the Senate floor
yesterday, Sen. Byrd compared a Senate rule cutting off debate on nominations to
Hitler's use of constitutional means to push legislation through the German
Reichstag at the start of the Nazi era. Abraham H. Foxman, ADL National
Director, issued the following statement: "It is hideous, outrageous and
offensive for Senator Byrd to...
"Senator's Hitler Comparison on Judicial Nominees 'Offensive and Insensitive',"
Anti-Defamation League, March 2, 2005 ---
http://www.adl.org/PresRele/HolNa_52/4660_52.htm
Jensen Advice:
"Dear Senator Byrd, Refrain from the N-word. Please call Republican Senators
Little Eichmans!"
Like it or not, military bashing has a downside
CNN saw its prime-time ratings drop sharply in
February, falling further behind Fox News. CNN's ratings dipped 16 percent
overall and 21 percent in prime time during February, according to Nielsen Media
Research, as some of the cable news channel's biggest stars lost viewers. Fox
News was the only one among the four cable news networks to post ratings gains
during the month. Fox News is owned by News Corp., which is The Post's parent
company. In 2002, Fox News surpassed CNN in the ratings and has been the leader
ever since. Fox saw its ratings...
"CNN Sinking in Fox Hole," New York Post, March 3, 2005 ---
http://www.nypost.com/business/22209.htm
Also see
http://www.variety.com/VR1117918742.html
Paint the red states blue: John's going to learn from
Republicans
Democratic vice presidential candidate and former
senator John Edwards will be among visiting fellows at Harvard University's
Institute of Politics this spring, the school announced yesterday. Edwards, 51,
of North Carolina ran for the Democratic nomination for president before being
chosen as U.S. Sen. John Kerry's running mate last year. He will join U.S. Rep.
Jim Kolbe (R-Ariz.) and Michael Deaver, international vice chairman of Edelman
Worldwide and former deputy chief of staff to President Ronald Reagan.
Typically, visiting fellows meet with various student groups to discuss topical
issues and their experiences in public and...
"Ex-Kerry running mate to join Harvard as fellow," Boston Herald,
March 3, 2005 ---
http://news.bostonherald.com/localRegional/view.bg?articleid=71250
A not so pleased Walt Mossberg
So, I've been looking for a simple, reasonably priced
product that includes all the hardware and software needed to do these tasks,
and can be easily operated by mere mortals. I thought I'd found it when I came
across a seemingly simple $49 gadget from ADS Technologies called Instant Music
-- a small white box specifically built to turn LPs and tape cassettes into
digital files.
Walter Mossbert, "Digitizing Your LPs and Tapes: ADS Gadget Falls Short In
Converting Old Music; The Jim Croce Test," The Wall Street Journal,
March 2, 2005; Page D8 ---
http://online.wsj.com/article/0,,SB110971919612167604,00.html?mod=todays_us_personal_journal
Would beleaguered Vermont taxpayers also vote for raising taxes to fund
their own Vermont Guard?
Fifty-two communities in Vermont are, in effect, determining their own foreign
policy today — voting on a referendum that would urge state leaders to stop
sending the state's National Guard (search) troops to war. The resolution would
also ask President Bush to immediately withdraw U.S. troops from Iraq. The issue
was raised across the state at Vermont's annual Town Meeting Day (search), where
residents usually gather to vote on local issues. But the Washington Times
reports that the referendum is part of a growing anti-war sentiment across the
state including in Brattleboro, Vermont, where officials removed the phrase
"freedom is...
Brit Hume, Fox News, March 2, 2005 ---
http://www.foxnews.com/story/0,2933,149189,00.html
Holy Scary! The manual on how to end civilized civilizations
Doesn't Bin Laden get it? He's also educating his enemies if and when he or his
cohorts cease power.
Nobody can be secure from this type of terrorism among fanatics on any side of a
dispute.
In the year since the September 11 attacks, few more
chilling documents have emerged than "Military Studies in the Jihad Against the
Tyrants," a how-to terrorism manual that investigators believe has been used by
followers of Osama bin Laden. The 180-page volume, seized from the Manchester,
England home of a bin Laden disciple, offers jihad members guidance on subjects
such as assassination, forging documents, and preparing poisons in its 18
chapters. The terrorism manual was placed into evidence last year by prosecutors
during the federal trial of four men accused of involvement in the 1998 bombing
of U.S. embassies in Kenya and Tanzania (the below English translation was also
placed in evidence). All four defendants were convicted and sentenced to life in
prison.
"Bin Laden's Terrorism Bible," The Smoking Gun ---
http://www.thesmokinggun.com/archive/jihadmanual.html
While TSG has previously published small excerpts
from this terror bible, we now present the entire document, a remarkable
window into bin Laden's network of cold-blooded fanatics.
Title, Opening Pages, And Introduction (11 pages)
First Lesson: General Introduction (4 pages)
Second Lesson: Necessary Qualifications And Characteristics For The
Organization's Member (7 pages)
Third Lesson: Counterfeit Currency And Forged Documents (3 pages)
Fourth Lesson: Organization Military Bases "Apartments-Hiding Places" (4
pages)
Fifth Lesson: Means of Communication And Transportation (15 pages)
Sixth Lesson: Training (3 pages)
Seventh Lesson: Weapons: Measures Related To Buying And Transporting
Them (5 pages)
Eighth Lesson: Member Safety (5 pages)
Ninth Lesson: Security Plan (12 pages)
Tenth Lesson: Special Tactical Operations (7 pages)
Eleventh Lesson: Espionage (1) Information-Gathering Using Open Methods
(10 pages)
Twelfth Lesson: Espionage (2) Information-Gathering Using Covert Methods
(15 pages)
Thirteenth Lesson: Secret Writing And Ciphers And Codes (17 pages)
Fourteenth Lesson: Kidnapping And Assassinations Using Rifles And
Pistols (23 pages)
Fifteenth Lesson: Explosives (13 pages)
Sixteenth Lesson: Assassinations Using Poisons And Cold Steel (8 pages)
Seventeenth Lesson: Interrogation And Investigation (15 pages)
Eighteenth Lesson: Prisons And Detention Centers (2 pages)
Another scary sign of the times
Juvenile offenders were infrequent arrivals to Texas'
death row until the 1990s, when escalating juvenile violence and a new breed of
young killer prompted a severe reaction from the criminal justice system. Only
four Texas juvenile offenders were executed for crimes committed in the 1970s.
Ditto for the 1980s, though one inmate from that decade remains on death row.
The turbulent 1990s saw a different story. An explosion of juvenile crime,
including a huge increase in juvenile homicides, brought the gloves off. Most
juvenile offenders currently on Texas' death row — 25 of 28 — committed their
crimes in that...
Mike Tolson, Houston Chronicle, March 2, 2005 ---
http://www.freerepublic.com/focus/f-news/1354194/posts
The gangs of New York are
getting younger and younger. Concerned prosecutors across the city are warning
that the city's violent street toughs are recruiting a new generation of
baby-faced followers. The rise of teen gangs was highlighted this month by the
shooting death of Bronx football star Fernando Correa, who had refused to join a
local gang. But across the city, children younger than 10 are being forced to
choose sides, prosecutors and law enforcement sources told the Daily News. "It's
been building. There are rumblings in the elementary schools," said a law
enforcement source. "Everybody says they're wanna-bes....
Elizabeth Hayes, "Nine-year-olds forced into gangs: Elementary schools now in
the clutches as toughs extend recruiting," New York Daily News, March 2,
2005 ---
http://www.nydailynews.com/front/story/284825p-243953c.html
Engine Out
Over the North Pole
A British Airways 747 that flew from Los Angeles to
England after one of its four engines failed during takeoff has set off a
controversy over the risk of flying 10 hours with a dead engine. Passengers
heard the pops, and people on the ground saw sparks flying out from beneath the
wing. A British Airways 747 had an engine fail during takeoff in Los Angeles 10
days ago. But instead of returning to the airport to land, Flight 268 continued
on across the U.S, up near the North Pole, across the Atlantic -- all the way to
England. The flight, with 351 passengers on board, didn't quite make it to
London, its scheduled destination. It eventually made an emergency landing in
Manchester, England, setting off a controversy over the risk of flying 10 hours
with a dead engine hanging under the wing.
"Crossing the Atlantic With a Dead Engine," The Wall Street Journal,
March 1, 2005, Page D1 ---
http://online.wsj.com/article/0,,SB110963519929666421,00.html?mod=todays_us_personal_journal
Perish the Thought: I think
foundations should be diverting more money away from universities and into
schools like this. It's time to get more serious about the future of many young
people who can fill the biggest labor voids in America.
Students have flocked for years to the College of Lake
County in Grayslake to tinker with refrigerators, learn how to repair cars and
hone their accounting skills. But now, thanks to a new $36.4 million
state-of-the-art technology building, they're doing it with some of the latest
technology available, including high-tech equipment that can scan car
computers. "We're teaching them the systems they're going to need when they go
out and work," said Lourdene Huhra, dean of the business division. "Our
equipment is as good as the equipment they'll use on the job." The building
opened in mid-January and is designed to provide a central location for programs
offered by the college's business and engineering, math and physical science
divisions.
"College rolls out high-tech facility," Chicago Tribune, February 27,
2005 ---
http://snipurl.com/TribFeb27
Would you
please repeat what you just said
Ear-wax-removal kits claim to soften excessive ear wax
if you place three to five drops of the carbamide peroxide solution in your ear
twice daily for as many as four days. But listen up: That ear-wax-removal kit
you can buy over-the-counter could cause more problems than it solves. . . I
don't believe in self-irrigation," says Stephen Epstein, an ear specialist who
runs the Ear Center in Wheaton, Md. The removal kits require a consumer to
perform a "relatively blind procedure," since a person can't see exactly what
he's doing, he says. Moreover, he says, if an infection ensues, you might end up
needing two or three visits to the doctor and a course of antibiotics. Dr.
Epstein says he sees three to five people a month who have tried the kits with
poor results. Sometimes, the solutions irritate the ear canal, causing itching
or inflammation. At worst, the wax could run deeper into the ear, leaving
residue on the eardrum.
Gintautas Dumcius, "Removing Wax From Your Ears," The Wall Street Journal,
March 1, 2005; Page D6 ---
http://online.wsj.com/article/0,,SB110963135300766318,00.html?mod=todays_us_personal_journal
Jensen Comment: The article goes on to report that not all experts agree with
Stephen Epstein.
After the
adverse publicity, I wonder if his speaking fees have increased or decreased?
Administrators (University of Wisconsin --- Whitewater)
wrestled with the decision to host Churchill, as Hamilton and several other
schools canceled appearances. It was decided to go forward as planned only when
it was determined that the event could be held safely, and after an exchange of
letters with Churchill in which he said he expected to be paid his $4,000
honorarium even if the event was shelved, and that he would use some of the
money to come and speak on another occasion to those who wanted to hear him.
"Wisconsin university prepares for Churchill," Rocky Mountain
News, March 1, 2005 ---
http://rockymountainnews.com/drmn/local/article/0,1299,DRMN_15_3584230,00.html
Bob Jensen's threads on Ward Churchill are at
http://www.trinity.edu/rjensen/hypocrisyChurchill.htm
I've been invited
to speak at hundreds of universities, but no university has ever paid me as
much as $4,000. (Sigh!) Just as of late, as fate would have it, I'm beginning
to envision little eichmans in the accounting profession. I also know a couple
of auditors who resemble Rudolf Hess.
It would help if you put it on your passport
. . . we identify as “totalitarian radicals,”
“anti-American radicals,” “leftists,” “moderate leftists” and “affective
leftists.” (The latter includes mostly entertainment figures whose politics are
emotionally rather than intellectually based in a way I will get to below.) We
have arranged the grid this way, even though we think it feeds certain
illusions, to accommodate those who expressed anguish over the grid in its
original format where there were no such...
"Defining the Left," y David Horowitz, FrontPageMagazine.com,
March 2, 2005 ---
http://www.frontpagemagazine.com/Articles/Printable.asp?ID=17190
Treading
softly but surely on pros in college sports: Many more basket weaving diplomas
expected
College sports programs tiptoed Monday into an
uncertain new world of academic accountability, as the National Collegiate
Athletic Association unveiled a complex system for monitoring the classroom
progress of Division I athletes and gave the public its first glimpse at how
individual colleges fared under the new standards. The system could eventually
punish institutions that fail to keep their athletes moving toward a degree. But
no penalties are attached to this first year's reports, and the NCAA has
modified the system in recent weeks in ways that delay or soften the potential
blows against sports programs.
Doug Lederman, "New Way to Keep Score," Inside Higher Ed, March 1, 2005
---
http://www.insidehighered.com/insider/new_way_to_keep_score
Not
treading so softly on college athletics: Sometimes you can't even pay to have
an article published
As a student in a new investigative
journalism course at Rutgers University last fall, Fraidy Reiss dove headlong
into the assignment to write two articles exploring subjects at the university.
Her first piece, about Rutgers's system for evaluating teachers, was the lead
story in the student-run Daily Targum one day last October. For her second
article, Reiss explored a set of programs and services available only to Rutgers
athletes, including special sections of a communications course, financed by an
alumnus, and a bevy of tutors and monitors to help athletes with their work and
make sure they go to class, among others. The instructor in the investigative
journalism course worked with her on the article, as did student editors at The
Targum, which helps sponsor the class. The article garnered an A+ grade in the
course, and Targum editors spent weeks trying to help her shape the piece for
publication, and paid $250 to cover the costs of an open records request she
filed for reports on athletes' grades. But this month, the newspaper's editors
told Reiss that they would not run the article, saying it was too one-sidedly
critical of the sports program. Frustrated, Reiss decided (with the help of an
alumnus critical of the Scarlet Knight sports program) to try to publish the
article as an advertisement in The Daily Targum. But last week, the newspaper
rejected the ad, too.
Doug Ledgerman, "Hitting Too Close to Home," Inside Higher Ed, March 2,
2005 ---
http://www.insidehighered.com/insider/hitting_too_close_to_home
Jensen Comment: The Targum and university officials are probably adding
fuel to the fire. By rejecting both the article and the advertisement, the
rejection publicity itself will motivate every student to read the article.
Furthermore, folks around the world will be eagerly awaiting when this article
when and if it appears on the Web.
Say what?
Another victim of television and Viagra
Britain's big pub companies are trying to reinvent the
traditional British pub, best known for its fireplace, bad food and warm beer.
The reason: Britons are drinking less beer these days, and even less at the
pub. To further entice post-office customers, the Case offers a $1 discount on
coffee or tea if they linger in the pub. To beef up the offer, Mr. Senior last
year spent about $3,200 on a professional coffee machine. "I told him he was mad
to spend that," Mrs. Senior says. Yet, coffee sales have since jumped to about
$380 a week from about $100 previously, she says. "We've got to sell everything
we can," Mr. Senior says. "If you want an ice cream or a hot chocolate, we've
got to be able to supply it. There are very few places left where you can sell
beer full stop."
Jensen Comment: The pubs are becoming after-hours post offices and mini-marts.
I think I preferred the old-style dark and quiet pubs with charcoal burning
fireplaces, cockney accents, and bad food.
Mum's the
Word: I bet they still whisper to their mistresses and friends on Wall Street
Fewer U.S. companies are offering earnings guidance to
investors and analysts, a survey found. Just 55% of firms offered guidance last
year, down from 72% in 2003. Those Providing Forecasts Fell Last Year to 55%
From 72%; Drawback for Smaller Investors?
Gregory Zuckerman, "CEOs Turn Mum About Projecting Earnings," The Wall Street
Journal, March 1, 2005 ---
http://online.wsj.com/article/0,,SB110964376210666684,00.html?mod=todays_us_money_and_investing
Mum's not
the word in Blog land
Some eight million Americans now publish blogs and 32
million people read them, according to the Pew Internet & American Life Project.
What began as a form of public diary-keeping has become an important supplement
to a business's online strategy: Blogs can connect with consumers on a personal
level -- and keep them visiting a company's Web site regularly.
Riva Richmond, "Blogs Keep Internet Customers Coming Back," The Wall Street
Journal, March 1, 2005; Page B8 ---
http://online.wsj.com/article/0,,SB110963746474866537,00.html?mod=todays_us_marketplace
Bob Jensen's threads on Weblogs and blogs are at
http://www.trinity.edu/~rjensen/245glosf.htm#Weblog
Optic
nerve hypoplasia
Opthalmologists are baffled by the rising prevalence of
a rare condition called optic nerve hypoplasia, which can cause visual
impairment or total blindness in babies. "It used to be so rare that people
would trade slides of the few known cases," says Michael Brodsky, a pediatric
neuro-ophthalmologist at University of Arkansas for Medical Sciences in Little
Rock. Since the 1970s, however, diagnoses of optic nerve hypoplasia have
escalated. Dr. Borchert says he alone has seen at least 500 victims, and he
estimates there are thousands of cases nationwide. Hard numbers on children who
are blind or visually impaired are difficult to obtain. But, says Dr. Brodsky,
"these cases are now filling up our clinics."
Kevin Helliker, "Pediatric Puzzle: A Sharp Increase In Infant Vision Problem
Baffles Doctors," The Wall Street Journal, March 1, 2005; Page D1 ---
http://online.wsj.com/article/0,,SB110963006386166280,00.html?mod=todays_us_personal_journal
Just think of the interest that's
piling up at $2,877 per hour each 24 hours of each of seven days of every week
U.S. authorities announced one of the largest
individual criminal tax cases ever, accusing a Washington telecommunications
businessman of failing to pay about $210 million in taxes. A federal grand jury
in Washington returned a 12-count indictment last Wednesday under seal that
charged Walter Anderson, 51 years old, with a plan to evade federal and District
of Columbia taxes. Mr. Anderson was arrested Saturday at Washington Dulles
International Airport after he stepped off a flight from London. The indictment
alleges Mr. Anderson earned nearly $450 million through investments and offshore
operations that he established to make it appear as if he wasn't personally
earning the money, the Justice Department said.
"Man Is Accused Of $210 Million Tax Evasion," The Wall Street Journal,
March 1, 2005, Page D2 ---
http://online.wsj.com/article/0,,SB110963908825166585,00.html?mod=todays_us_personal_journal
What has
life expectancy risen to in the United States?
Life expectancy in the U.S. climbed to a record in
2003, as deaths from heart disease and cancer declined. According to
information from the Centers for Disease Control and Prevention, average life
expectancy rose to 77.6 years in 2003 from 77.3 years in 2002.
Jennifer Corbett Dooren, "Americans' Life Expectancy Rose to Record High in
2003," The Wall Street Journal, March 1, 2005; Page D8 ---
http://online.wsj.com/article/0,,SB110963558261366439,00.html?mod=todays_us_personal_journal
Jensen Comment: Medicare has significantly extended the life expectancy of a
citizen in the U.S. while it significantly lowers the expected life of the
United States itself.
Bob Jensen's unfinished essay on entitlements is at
http://www.trinity.edu/rjensen/entitlements.htm
War Shortages
General Motors Corp. will offer to repurchase new cars
bought by dealers from its five divisions. This is to reduce the "wild" trading
that might result if dealers had to reduce stocks involuntarily and prevent cars
from falling into "bootlegger" hands.
The Wall Street Journal, March 3, 1942
The Vioxx fallout hits multiple sclerosis
patients.
Tysabri had received accelerated approval from the
FDA just three months ago because clinical trials had shown it to be twice as
effective as alternative therapies in preventing flare-ups of MS, which is a
degenerative and eventually fatal disease. Tysabri is also easier to take than
alternative treatments, and tolerated by a subset of MS patients who can't take
the others at all. But for the indefinite future everyone will have to do
without because two of the thousands of patients who've received Tysabri
developed a rare neurological disorder. Those two patients happened to also be
on another immuno-suppressive MS treatment called Avonex. There is no reason to
believe that Tysabri has caused this disorder when used alone. There's plenty
of blame to go around here, starting with the trial lawyers and their climate of
fear. Congressmen who demagogue about non-existent FDA safety "lapses" aren't
much better. But we're also disappointed with CEOs who imagine they're doing
patients and shareholders a favor with such rash decisions. In retrospect, Merck
CEO Ray Gilmartin only strengthened the hand of the lawyers by withdrawing Vioxx
when the FDA would have been content with relabeling.
"Drug Twilight Zone," The Wall Street Journal, March 2, 2005; Page A16
---
http://online.wsj.com/article/0,,SB110972765984167851,00.html?mod=opinion&ojcontent=otep
New oxymoron: Hungarian wedding
"Most Hungarian Adults Single for the First Time in History, Report," Weird
News, March 1, 3005 ---
http://snipurl.com/HungarianWeddings
Hungarians should seek out marriage proposal
consulting that seems to lead to more nuptials in the U.S.
This is just the sort of anxiety that sends men
hot-footing off to companies such as the Massachusetts website 2propose.com, run
by Paul Alden, a former wedding photographer. Like its rivals, such as
anexclusiveengagement.com or anamazingproposal.com, the site offers a range of
services, from 100 proposal concepts for $US9.99 ($12.70) to a more expensive
tailored service in which proposal co-ordinators sort out a specific plan and
arrange it all. Ideas in the basic package include painting "Marry me" on bowls
at a bowling alley, hiring out the Magic Kingdom Rose Garden at Disneyland and
getting yourself delivered to your beloved's door inside a box. Some of the
3000 people who register on the site each month opt for something far more
elaborate, says Alden. He mentions a man who arranged for a fake television crew
to ambush him and his girlfriend as they took a carriage around Central Park and
then "film" him going down on one knee. Another client remembered his
girlfriend being upset at not being able to land near a beautiful waterfall in
Hawaii as they flew over in a helicopter on holiday. Alden's company tracked
down the only pilot licensed to land at the spot. He brought them down, produced
a picnic and, when they got back to the airport, the couple were taken by limo
to a restaurant where they were serenaded by a violinist. Total cost: about
$US3750, not including the air fares to Hawaii.
"Popping the question goes professional," Sydney Morning Herald, March 3, 2005
---
http://www.smh.com.au/text/articles/2005/03/02/1109700540627.html
Let's hope that single parents in Hungary don't go by
way of those in the U.K.
The reasons for this moral decline are as clear as the
aforementioned statistics are bleak. As James Bartholomew argues in his recent
book "The Welfare State We're In" (Politico's, 2004), the blame rests
squarely on the growth of the welfare state, which has removed personal
responsibility in large areas of people's lives and substituted dependency on
the state and the rule of the bureaucrat. The state is complicit in the
breakdown of the family; consider Mr. Bartholomew's example of how the state has
promoted single-parent families by taxing married couples -- and abolishing the
marriage allowance -- while giving increasing amounts of money to single
parents. No wonder, then, that from 1972 to 1992 the proportion of children
living with a lone parent tripled to 21% from 7%. The link with rising crime is
reflected in one shaming statistic: One-third of the people in U.K. prisons
spent time in an orphanage at some time in their childhood. One prison governor,
on being asked how many of the inmates had formerly been taken into foster care,
replied: "Nearly all of them." Indeed, the collapse of the traditional nuclear
family has hit the poorest classes quite disproportionately, with nearly a
quarter of girls whose fathers were unskilled workers becoming teenage mothers,
mostly outside marriage. Divorces have risen sevenfold since 1960, and these
also have been much more common among the poor.
Russell Lewis, "Unruly Britannia," The Wall Street Journal (Europe),
March 3, 2005 ---
http://online.wsj.com/article/0,,SB110980295622868708,00.html?mod=opinion&ojcontent=otep
What giant
search engine turned ten years old? It's almost reached puberty.
Which web powerhouse was started by two Stanford geeks
as a simple search page with a silly name and became the biggest thing on the
internet? Nope, not Google. Try again. The invisible giant turns 10. Still, the
adulation must rankle the folks at a certain company (Google)
just down the road in Silicon Valley - another search engine founded by two
precocious Stanford grads with a cute name, colorful logo, and simple homepage.
The indignity is all the greater when you consider Yahoo!'s numbers: 165 million
registered users, 345 million unique visitors a month, $49 billion market cap,
and a 62 percent increase in revenue last quarter, bringing 2004 total revenue
to $3.6 billion. Yahoo! makes more money and has more patents, services, and
users than Google; it even has its own yodel. Given its recent blowout financial
results and the expected continued explosion of online advertising, Yahoo! may
very well be the most valuable business on the Web. And yet, as Jerry Yang and
David Filo's startup celebrates its 10th anniversary March 2, Yahoo! is the
biggest consumer Internet company you may almost never think about.
"The UnGoogle (Yes, Yahoo!)," Wired Magazine, March 2005 ---
http://www.wired.com/wired/archive/13.03/yahoo.html?tw=wn_tophead_4
Hero cat
finds a home in Bangor --- now it has to learn English
A little Iraqi has a new home in Maine. H.P. the cat
was adopted by National Guard troopers serving with the 152nd Field Artillery
Battalion. Spc. Jesse Cote said the cat was starving and toothless when they
found it. But the GI's were able to nurse H.P. back to health. The cat ate and
slept with the soldiers and even helped them. Cote said H.P. would be the first
to react to mortar fire and was their warning of incoming.
"Iraqi Cat Who Helped U.S. Troops Finds American Home,"
ClickOnDetroit, March 1, 2005 ---
http://www.clickondetroit.com/family/4241748/detail.html
One woman's solution to long-term
care
The 82-year-old Marin County woman cannot walk and says
she has no place to go, so she has remained planted in a hospital bed at Kaiser
Permanente San Rafael Medical Center for the past year. Despite every effort by
Kaiser officials to get her out, Nome has refused to leave or pay the $3,090 a
day that the hospital charges to put her up. She said she will continue
squatting at Kaiser until a place is found in Marin where she can live and get
the treatment she requires. "When you pay Kaiser insurance month after month
for 50 years like I have, you expect to be treated like a good patient and a
human being," Nome said the other day from her hospital bed. "If I had known
that Kaiser would take me for only a couple of days and then would expect my
family to take care of me, I would have paid my family what I paid for
insurance."
Peter Fimrite, "OVERSTAYING HER WELCOME Disgruntled patient hasn't budged from
hospital for a year," The San Francisco Chronicle, March 1, 2005 ---
http://sfgate.com/cgi-bin/article.cgi?file=/c/a/2005/03/01/MNG76BII1M1.DTL
One home invasion intruder put away
for life
Chelsea (Alabama, Shelby County) man shoots armed
intruder to death after being tied The Associated Press An armed, masked
intruder was shot to death by a Chelsea man who managed to free himself after he
was tied up and his wife held at gunpoint during a robbery in their home, Shelby
County authorities said. Sheriff Chris Curry said a female accomplice was
arrested while attempting to flee the scene. Sheriff's officers did not
immediately release the name of the man who killed the intruder during the home
invasion about 2 a.m. Sunday. The suspected burglar...
Birmingham Times, February 28, 2005 ---
http://www.freerepublic.com/focus/f-news/1353390/posts
This might replace one-sheet teaching evaluations
What you say or do when teaching, you may be on Candid Camera or student Web
sites
Brick Township school officials might ban cell phones
after a student's phone cam videotaped a teacher's outburst. Students said the
teacher began yelling when students failed to show respect to the national
anthem. The tape was posted on several independent Web sites.
"Teacher's Outburst Caught On Camera Student Shoots Teacher On Cell
Phone Camera," NBC, March 2, 2005 ---
http://www.nbc10.com/news/4245196/detail.html
The Heavier Side
Dark Hero of the Information Age: In Search of Norbert Wiener, the Father of
Cybernetics, by Flo Conway and Jim Siegelman. Basic Books, 423 pages,
$27.50.
It is hardly the greatest scientific mystery of the
20th century, but it is a riddle just the same: why did Norbert Wiener - gray
eminence of gray matter, inventor of cybernetics, founding theorist of the
information age - abandon his closest young colleagues just as they were about
to embark on an exciting new collaboration on the workings of the brain?
Cornelia Dean, "A Brilliant Mind and an Anguished Life," The New
York Times, March 1, 2005 ---
http://www.nytimes.com/2005/03/01/science/01book.html?
Jensen Comment:
Jensen Comment: Now the Lighter
Side
Norbert Wiener (1894-1964), US mathematician. The archetype of the genius and
absent-minded professor.
http://dalido.narod.ru/NW/NW-quote5.html
http://snipurl.com/WeinerTime
http://people.cornellcollege.edu/ltabak/publications/articles/wiener.html
http://www-groups.dcs.st-and.ac.uk/~history/Mathematicians/Wiener_Norbert.html
http://www.xs4all.nl/~jcdverha/scijokes/Wiener.html
http://www.anvari.org/shortjoke/Science_Humor/199.html
http://www.anecdotage.com/index.php?aid=9224
http://www.angelfire.com/co/1x137/cybros.html
The list actually seems endless
Female assistant professors earn on average 91 percent
of what their male counterparts earn.
Scott Jaschick quoting a report by Yale graduate students, "Larry Summers Isn't
Alone," Inside Higher Ed, March 1, 2005 ---
http://www.insidehighered.com/insider/larry_summers_isn_t_alone
Jensen Comment: I didn't investigate the 91 percent claim, but I suspect this
is just one more way of using statistics to mislead. Graduate students of Yale
should be above such an unethical tactic. My guess is the following: Salaries
and benefits of new hires of females are probably as high or higher than
salaries and benefits of male hires in all respective disciplines. I really
doubt that there is gender discrimination within any discipline. Even within
the highest paying disciplines, such as computer science, I suspect that all
women hired in Ivy League schools are getting no less than their male
counterparts at the assistant professor level.
The
discrepancy in pay arises between disciplines, not between men versus women.
Some disciplines have a much higher supply of applicants making it possible
(although many do not view as politically correct) to land top assistant
professors at lower salaries. In other disciplines such as computer science,
the number of male and female applicants is so small and so competitive that
higher offers must be made to land a top candidate, female or male. In the
discipline of accountancy, my guess is that there is a much higher proportion of
female PhD graduates than in computer science. These females are getting
assistant professor offers equivalent to their male counterparts, and those
offers are higher than in most other disciplines because there are so few male
and female accountancy doctoral students across the world.
I would be
shocked of there is serious gender discrimination at the hiring level in major
universities. Reasons why there are so many doctoral graduates in some
disciplines and such a shortage in others are very complex. I suspect many find
accounting and computer science more boring even if the pay is better. I do
know of several professors of accounting who got doctoral degrees in other areas
(e.g., one in German Literature and several in Economics) who admitted to me
that, after discovering both the hiring opportunities and salary differentials,
they earned a second doctoral degree in accountancy. Of course there are some
other accounting professors who for one reason or another are now teaching in
other disciplines.
I might add
that within the "broad" profession of accountancy the same type of gender pay
differentials arise. But the difference lies within the type of accountancy
(such as clerical versus ERP auditing) rather than gender bias per se. A top
ERP auditor is going to get a better offer than a clerk whether that auditor is
male or female.
March 1, 2005
reply from Richard C. Sansing
[Richard.C.Sansing@DARTMOUTH.EDU]
A competing hypothesis that is similar to yours in
spirit is that if more experienced faculty earn more and the percentage of
female hires is increasing over time, the same 91% figure could be true even
though after controlling for both discipline and experience, men and women
have the same level of earnings.
The study, which is at:
http://www.yaleunions.org/geso/reports/Ivy.pdf
reports an unconditional mean of 91%, which controls
for neither discipline nor experience. However, it reports similar disparities
when controlling for rank (full, associate, assistant), so I suspect that
controlling for experience wouldn't change the analysis much.
As for your comment, "Graduate students of Yale
should be above such an unethical tactic.", I strive to avoid attributing to
malice anything that ineptitude can also explain.
Richard C. Sansing
Associate Professor of Business Administration
Tuck School of Business at Dartmouth 100 Tuck Hall
email: Richard.C.Sansing@dartmouth.edu
"Accounting Firms Hiring Thousands of
'05 Grads," SmartPros, February 23, 2005 ---
http://accounting.smartpros.com/x47148.xml
Feb. 23, 2005 (SmartPros) — The job
market for 2005 college graduates is predicted to be the best since 2000,
according to Michigan State University's annual Recruiting Trends survey.
The top employers include several accounting and consulting firms.
The survey respondents are ranked
according to the projected number of hires from college recruiting for the
Class of 2005. The top 20 employers, followed by their projected number of
hires, are:
1 - Enterprise Rent-A-Car--7,000
2 - PricewaterhouseCoopers--3,170
3 - Ernst & Young LLP--2,900
4 - Lockheed Martin--2,863
5 - KPMG--2,240
6 - Sodexho, Inc.--2,050
7 - Fairfax County Public Schools--1,600
8 - Accenture--1,540
9 - Northrop Grumman--1,266
10 - United States Customs & Border Protection--1,200
11 - Target--1,127
12 - United States Air Force--1,095
13 - Raytheon Company--1,000
14 - Microsoft--970
15 - JPMorgan Chase--810
16 - Procter & Gamble--569
17 - Liberty Mutual--545
18 - Grant Thornton--500
19 - Bank of America--413
20 - United States Air Force Personnel Center/DPKR--400
According to the survey, economic
sectors showing strength this year include: retail, wholesale,
transportation (not including airlines), health services, entertainment and
real estate.
February 28, 2005
reply from Jagdish Gangolly
[JGangolly@UAMAIL.ALBANY.EDU]
Bob,
One can describe the
reason for Accenture's needs for accountants in ONE word: outsourcing.
The following is from
www.accenture.com
webpage:
Outsourcing
Application
Outsourcing
Business Process Outsourcing Accenture Finance Solutions-Accenture HR
Services-Accenture
Learning-Accenture
Procurement Solutions-Accenture Business Services for Utilities-Accenture
eDemocracy Services-Navitaire-Accenture Insurance Services
Infrastructure Outsourcing
Jagdish S.
Gangolly,
Associate Professor
School of Business & NY State Center for Information Forensics & Assurance
State University of New York at Albany BA 365C,
1400 Washington Avenue, Albany, NY 12222
email: j.gangolly@albany.edu
March 1, 2005 messages from Bob Jensen and Chuck Johnson
I hope Professor Johnson doesn’t mind if I share this with you. I suspect
this is partly conjecture on his part, but it is somewhat more than
conjecture. His reasoning makes sense to me. Apparently Enterprise has a
different business model than other car rental firms.
There may be some fast food chains with similar models.
Bob Jensen
-----Original Message-----
From: Kenneth Johnson [mailto:kjohnson@GeorgiaSouthern.edu]
Sent: Tuesday, March 01, 2005 10:25 AM
To: Jensen, Robert
Subject: Re: Accounting Firms Hiring Thousands
Bob,
FYI, EnterpriesRent-a-Car's hiring of so many college
graduates is driven by the firm's basic business model. Enterprise has
thousands of small offices. When business volume at a particular location
reaches a certain point a new office is created a few miles away. The way I
understand it, each new hire does everything, from: taking reservations,
serving customers, picking up and dropping off customers, and even washing
cars. Their favorite hire is a graduate of modest academic achievement but
with lots of extracurricular activities and good people skills. I learned all
of this from a strategic management textbook I taught out of a few years ago;
Enterprise was a side-bar mini-case.
BTW, the way I read it, the 7,000 figure cited in the
2000 Michigan State University's annual Recruiting Trends survey was total
college graduates, not just accountants.
Thanks for the constant stream of interesting stuff.
Chuck Johnson
Bob Jensen's
threads on accounting careers are at
http://www.trinity.edu/rjensen/bookbob1.htm#careers
We only have the happiness
we have given.
Édouard Pailleron
Jensen Comment: Misery is another thing entirely.
Proposal for Teaching Only and Imported Universities
Proposals by the federal Education Minister, Brendan
Nelson, to create greater diversity, specialisation and competition within the
university sector are radical, even revolutionary. Given the present
unsatisfactory situation, this is no bad thing. Dr Nelson's suggestions -
heresies, say some - would redefine and broaden the term "university".
Universities could be either teaching-only or research-intensive institutions,
the way would be cleared for more private and small universities, including some
specialising in a single discipline or vocation (for example law or medicine or
hospitality), and overseas universities would be encouraged to establish
Australian campuses. This would require the Commonwealth and the states to agree
to big changes in the present protocols that oblige universities to offer at
least three disciplines and to undertake both teaching and research.
"Dr Nelson's daring new prescription," Sydney Morning Herald, March 7,
2005 ---
http://www.smh.com.au/text/articles/2005/03/06/1110044262150.html
The real embarrassment will be when it fits
Stanford University: Transplanting human brain cells into mice
It will look like any ordinary mouse, but for US
scientists a tiny animal threatens to ignite a profound ethical dilemma. In one
of the most controversial scientific projects conceived, a group of university
researchers in California's Silicon Valley is preparing to create a mouse whose
brain will be composed entirely of human cells. Researchers at Stanford
University have already succeeded in breeding mice with brains that are 1 per
cent human cells. In the next stage they plan to use stem cells from aborted
human foetuses to create an animal whose brain cells are 100 per cent human.
Professor Irving Weissman, who heads the university's Institute of Cancer/Stem
Cell Biology, believes the mice could produce a breakthrough in understanding
how stem cells might lead to a cure for diseases such as Parkinson's and
Alzheimer's. The group is waiting for a key US Government sponsored report, due
this month, that will decide how much science can blur the distinction between
man and beast.
"Mouse will have brain of human," Sydney Morning Herald, March 7, 2005
---
http://www.smh.com.au/text/articles/2005/03/06/1110044258297.html
Canadian researchers add new meaning to "giving the finger."
The length of a man’s fingers can reveal how physically
aggressive he is, according to new research. The shorter the index finger is
compared to the ring finger, the more boisterous he will be, University of
Alberta researchers said. But the same was not true for verbal aggression or
hostile behaviours, they told the journal Biological Psychology after studying
300 people’s fingers. The trend is thought to be linked to testosterone exposure
in the womb. There is known to be a direct correlation between finger lengths
and the amount of the male hormone testosterone that a baby is exposed to in the
womb. In women, the two fingers are usually almost equal in length, as measured
from the crease nearest the palm to the fingertip. In men, the ring finger tends
to be longer than the index. Other studies looking at finger length have
suggested that, in men, a long ring finger and symmetrical hands are an
indication of fertility, and women with a longer index finger are more likely to
be fertile. One study found boys with shorter ring fingers tended to be at
greatest risk of a heart attack in early adulthood, which was linked to
testosterone levels.
"Short index finger shows men are as hard as nails," Scotsman, March 4,
2005 ---
http://news.scotsman.com/scitech.cfm?id=239982005
I thought March was a brilliant poet, especially his narrative verse in
The Wild Party (which I longingly referred to over four decades when the
urge to be a narrative poet whispered at me. March always reminded me that I
did not have the talent for narrative verse, and I humbly returned to writing
about accountancy).
I suspect most of my literary friends will scoff at March's works, and for them
I inserted the above module.
If you were looking for a young
man with a great literary life in front of him in 1928, you'd have been
hard-pressed to find a better candidate than 29-year-old Joseph Moncure March.
His narrative in verse The Wild Party, a tale of Manhattan hedonism and the
tragic hipsters who indulge in it, had been published that spring in a limited
edition, achieving an immediate following and brisk sales. (A musical adaptation
will open this
month at the Fitzgerald Theater). The book even got banned briefly in
Boston, bringing March something every writer craves—a prominent but not
damaging censorship battle.
Tim Cavanaugh, "After the Party," Rake Magazine, March 2005 ---
http://www.rakemag.com/coals/detail.asp?catID=58&itemID=20510
Jensen Comment: Cavanaugh says March had a "half-brilliant career," which I
guess is not all that unique in either literary or scientific circles. By the
way, I don't think you can download a free copy of The Wild Party
online. The fact that it was briefly banned in Boston in 1928 shows how times
have changed in society.
New Treatment for Type 2 Diabetes (Previously known as
“noninsulin-dependent diabetes mellitus” (NIDDM))
A popular treatment for sleep apnea may also help
people with type 2 diabetes, according to a study published in the Feb. 28 issue
of the Archives of Internal Medicine. Researchers found that treating sleep
apnea with continuous positive airway pressure (CPAP) not only helped the 25
participants sleep better, but also significantly reduced their blood sugar (or
glucose) levels when administered for at least four hours a day. Lower glucose
levels can help reduce a diabetic's risk of developing late-stage complications
including cardiovascular and kidney disease.
"A Sleep Treatment's Dual Benefits," MSNBC, March 3, 2005 ---
http://www.msnbc.msn.com/id/7077622/site/newsweek/
Jensen Comment: Type 2 diabetes is becoming an epidemic among adults. It is
important to test for it regularly and aggressively follow physician diet,
exercise, and drug plans. Otherwise it can lead to blindness, sexual
malfunction, loss of limbs, and death.
Tips to Help You Sleep from MSNBC on March 3 ---
http://www.msnbc.msn.com/id/7077618/site/newsweek/
Peruvian novelist Mario Vargas Llosa: Beyond Capitalism
The other night, upon accepting the 2005 Irving Kristol
Award from the American Enterprise Institute, a bastion of inside-the-Beltway
conservatism, the Peruvian novelist Mario Vargas Llosa gave a speech extolling
liberalism. Not, he hastened to explain, the contemporary American version, but
liberalism in its older sense, an outlook predicated on "tolerance and respect
for others," the basic elements of which are "political democracy, the market
economy, and the defense of individual interests over those of the state." This
liberalism, which requires private property, free markets, and the rule of law,
has little in common with the statist mutation that goes by that name in the
U.S. One of classical liberalism's central insights, Vargas Llosa noted, is that
"freedom is a single, unified concept. Political and economic liberties are as
inseparable as the two sides of a medal." By contrast, self-styled liberals in
the U.S. tend to view economic liberty with indifference, if not hostility,
leaving its defense to conservatives.
Jacob Sullum "Free to B&B," ReasonOnLine, March 4, 2005 ---
http://www.reason.com/sullum/030405.shtml
"Confessions of a Liberal," by Mario Vargas Llosa, American Enterprise
Institute for Public Policy Research, March 3, 2005 ---
http://www.aei.org/news/newsID.22053,filter.all/news_detail.asp
Because liberalism is not an ideology, that is, a
dogmatic lay religion, but rather an open, evolving doctrine that yields to
reality instead of trying to force reality to do the yielding, there are
diverse tendencies and profound discrepancies among liberals. With regard to
religion, gay marriage, abortion and such, liberals like me, who are agnostics
as well as supporters of the separation between church and state and defenders
of the decriminalization of abortion and gay marriage, are sometimes harshly
criticized by other liberals who have opposite views on these issues. These
discrepancies are healthy and useful because they do not violate the basic
precepts of liberalism, which are political democracy, the market economy and
the defense of individual interests over those of the state.
For example, there are liberals who believe that
economics is the field through which all problems are resolved and that the
free market is the panacea for everything from poverty to unemployment,
marginalization and social exclusion. These liberals, true living algorithms,
have sometimes generated more damage to the cause of freedom than did the
Marxists, the first champions of the absurd thesis that the economy is the
driving force of the history of nations and the basis of civilization. It
simply is not true. Ideas and culture are what differentiate civilization from
barbarism, not the economy. The economy by itself, without the support of
ideas and culture, may produce optimal results on paper, but it does not give
purpose to the lives of people; it does not offer individuals reasons to
resist adversity and stand united with compassion or allow them to live in an
environment permeated in humanity. It is culture, a body of shared ideas,
beliefs and customs--among which religion may be included of course--that
gives warmth and life to democracy and permits the market economy, with its
competitive, cold mathematics of awarding success and punishing failure, to
avoid degenerating into a Darwinian battle in which, as Isaiah Berlin put it,
“liberty for wolves is death to the lambs.” The free market is the best
mechanism in existence for producing riches and, if well complemented with
other institutions and uses of democratic culture, launches the material
progress of a nation to the spectacular heights with which we are familiar.
But it is also a relentless instrument, which, without the spiritual and
intellectual component that culture represents, can reduce life to a
ferocious, selfish struggle in which only the fittest survive.
. . .
Then it will not be necessary to talk about freedom
because it will be the air that we breathe and because we will all truly be
free. Ludwig von Mises’ ideal of a universal culture infused with respect for
the law and human rights will have become a reality.
Continued in the article
The writings of Francis Fukuyama closely parallel the above message by Mario
Vargas Llosa
The distant origins of the present volume lie in an article entitled “The End of
History?” which I wrote for the journal The National Interest in the summer of
1989. In it, I argued that a remarkable consensus concerning the legitimacy of
liberal democracy as a system of government had emerged throughout the world
over the past few years, as it conquered rival ideologies like hereditary
monarchy, fascism, and most recently communism. More than that, however, I
argued that liberal democracy may constitute the “end point of mankind’s
ideological evolution” and the “final form of human government,” and as such
constituted the “end of history.” That is, while earlier forms of government
were characterised by grave defects and irrationalities that led to their
eventual collapse, liberal democracy was arguably free from such fundamental
internal contradictions. This was not to say that today’s stable democracies,
like the United States, France, or Switzerland, were not without injustice or
serious social problems. But these problems were ones of incomplete
implementation of the twin principles of liberty and equality on which modern
democracy is founded, rather than of flaws in the principles themselves. While
some present-day countries might fail to achieve stable liberal democracy, and
others might lapse back into other, more primitive forms of rule like theocracy
or military dictatorship, the ideal of liberal democracy could not be improved
on.
Francis Fukuyama, The End of History and the Last Man, 1992 ---
http://www.marxists.org/reference/subject/philosophy/works/us/fukuyama.htm
Jensen Comment: I recently saw mention made a lecture by Fukuyama at the
University of Chicago that had the title something to the the effect "Fifteen
Years After the End of History." I used Fukuyama's original "End of History"
book years ago in a First Year Seminar.
Slavery Lives On
A ceremony during which at least 7000 men, women and
children in Niger in West Africa were to be freed from slavery has been
cancelled at the last minute by the Government. The BBC News website quoted a
spokesman for the Government's human rights commission as saying Saturday's
planned ceremony had been cancelled because slavery did not exist in Niger. The
Government had been a co-sponsor of the event. In a country where at least
43,000 people are thought to be slaves, the practice was made illegal only last
May. A new law made owning slaves punishable by up to 30 years in prison.
"Thousands of slaves see their chance of freedom slip away," Sydney Morning
Herald, March 7, 2005 ---
http://www.smh.com.au/text/articles/2005/03/06/1110044260807.html
Jensen Comment: It will be interesting to see if and when this law is ever
enforced.
United Nations (read that United Nepotism)
The Biggest Scam in History
The U.N. Oil-for-Food scandal is the biggest scam in the
history of humanitarian aid. And it's Kofi Annan's fault.
Claudia Rosett, "Blame Game, The New Republic, February 16, 2005 ---
https://ssl.tnr.com/p/docsub.mhtml?i=20050221&s=rosett022105
What a complicated web we weave: Proud Canada Company Linked to U.N. Oil
for Food Scandal
But the Fox News story wasn’t prompted by an
announcement from Power of some billion-dollar takeover or the appointment of a
new senior executive. It was something altogether different: the revelation that
the man handpicked by the UN secretary general last April to probe the UN’s
scandalized Oil-for-Food program, Paul Volcker, had not disclosed to the UN that
he was a paid adviser to Power Corp., a story which had originally been broken
by a small, independent Toronto newspaper, the Canada Free Press. Why did the
highest-rated cable channel in the U.S. care? Because the more that Americans
came to know about Oil-for-Food, which has been called the largest corruption
scandal in history, the more the name of this little-known Montreal firm kept
popping up. And the more links that seemed to emerge between Power Corp. and
individuals or organizations involved in the Oil-for-Food scandal, the more Fox
News and other news outlets sniffing around this story began to ask questions
about who, exactly, this Power Corp. is. And, they wanted to know, what, if
anything, did Power have to do with a scandal in which companies around the
world took bribes to help a murderous dictator scam billions of dollars in
humanitarian aid out of the UN while his people suffered and starved?
Kevin Steel, "How Montreal's Power Corp. found itself caught up in the biggest
fiasco in UN history," Canada Free Press, March 5, 2005 ---
http://www.canadafreepress.com/2005/cover030505.htm
Bob Jensen's fraud updates are at
http://www.trinity.edu/rjensen/FraudUpdates.htm
Moral Hazard: Should the media pay criminals for interviews?
The BBC's board of governors have rebuffed a call by
culture secretary Tessa Jowell to investigate the corporation's controversial
decision to pay £4,500 for an interview with the convicted burglar shot by Tony
Martin. Ms Jowell said she understood the "disquiet and unease" caused by the
reported payment, which has been attacked by politicians from all sides and
described by the lord chancellor, Lord Falconer, as "disgusting".
John Plunkett, "BBC governors won't investigate burglar payment row,"
Guardian, March 7, 2005 ---
http://media.guardian.co.uk/site/story/0,14173,1432251,00.html
Separate but equal?
Black boys may have to be taught in separate classes
from their white peers to help them do better at school, according to the race
relations watchdog. "If the only way to break through the wall of attitude that
surrounds black boys is to teach them separately for some subjects, then we
should be ready for that," he said. "A tough new strategy would compel black
fathers to be responsible fathers. "If they can't be bothered to turn up for
parents' evening, should they expect automatic access to their sons?"
"Call for separate classes for black boys," Guardian, March 7, 2005 ---
http://education.guardian.co.uk/racism/story/0,10795,1432149,00.html
Purge of conservatives at Colorado University?
Mitchell taught at the Hallett Diversity Program for 24
straight semesters. That is, until he made the colossal error of actually
presenting a (gasp!) diverse opinion, quoting respected conservative black
intellectual Thomas Sowell in a discussion about affirmative action. Sitting 5
feet from a pink triangle that read "Hate-Free Zone," the progressive head of
the department berated Mitchell, calling him a racist. "That would have come as
a surprise to my black children," explains Mitchell, who has nine kids, as of
last count, two of them adopted African-Americans. People say liberals run the
university. I wish they did," Mitchell says. "Most liberals understand the need
for intellectual diversity. It's the radical left that kills you." So Churchill
may play the part, but Mitchell is the true dissenter at CU. Why did he stay
this long? "I stay to create enthusiasm and love for history," Mitchell says. "
And I am successful at that. I love the classroom, and I love my students."
Once, president Hoffman promised increased
intellectual diversity at CU - not a purge of conservatives. Another promise
broken.
David Harsanyi, "A CU prof deserving of sympathy," Denver Post,
March 7, 2005 ---
http://www.denverpost.com/Stories/0,1413,36~31908~2748616,00.html
Also see "Heretics in the Academy?: On campuses across the country,
conservative professors face a sea of hostility and ideological bias," by
Jennifer Jacobson, The Chronicle of Higher Education, pp. A8-A11.
Fighting a conservative virus in the Cal student body
Fighting for the right to be right Political
affiliation jeopardizes conservative student's office The intolerant atmosphere
that conservatives at Cal face has, once again, been blatantly demonstrated by
our elected officials. Judicial Council nominee Amaris White appeared before the
ASUC Senate last Wednesday, for her confirmation hearing. After the Senators
voted in favor of White’s appointment, they found out about her conservative
affiliation. This prompted senators who had confirmed her to seek a reversal in
their decision. As elected officials, it is the ASUC's responsibility to
represent the student body and as such must allow Amaris White to serve on...
Amaury Gallais and Andrew R. Quinio. "Fighting for the right to be right
Political affiliation jeopardizes conservative student's office," California
Patriot, March 5, 2005 ---
http://www.freerepublic.com/focus/f-news/browse
This would never happen at Cal
Conservative students at the University of Texas at
Austin planned to pass out cookies and cake Wednesday to celebrate Texas
Independence Day. But rumors that they were planning another activity -- a
"hunt" for illegal aliens -- led hundreds of students to protest. In January,
the University of North Texas chapter of the Young Conservatives of Texas held
just such an event. Some students wore orange shirts that said "Illegal
Immigrant" on one side and "Catch Me If U Can" on the other. Other students
chased them and those who "caught" an immigrant won prizes. The state chapter of
the Young Conservatives of Texas posted photos of the event on its Web site.
Scott Jaschik, "The Latest in Conservative Political Theater," Inside Higher
Ed, March 4, 2005 ---
http://www.insidehighered.com/insider/the_latest_in_conservative_political_theater
Jensen Comment: Sounds more like a vigilante group than a student group. The
Young Conservatives of Texas Web site is at
http://www.yct.org/
March 3, 2005 message from Tristin McHugh
Sent: Thursday, March 03, 2005 6:29 PM
To: Jensen, Robert
Subject: protest songs of the sixties
Dear Dr. Richard Jensen:
Hello my name is Tristin McHugh an eighth grader at
Diablo View Middle School Clayton, California. In my Core class I'm doing a
big research project on protest songs of the sixties, and what led up to it.
If you could please send me some information on this subject that would be
great.
The Vietnam War and songs really interest me, so if
you can send me stuff, that's awesome, but if you can't, that's OK, too.
Thank you for your time and efforts.
Sincerely,
Tristin McHugh
March 4, 2005 reply from Bob Jensen
Here are a few to look at (not all are from the
1960s):
http://www.brownielocks.com/sixtieswarsongs.html
The music is great to listen to in some of these, especially Written on the
Wind
http://www.lib.virginia.edu/small/exhibits/music/protest.html
http://www.brownielocks.com/sixtieswarsongs.html
You might be interested in my essay at
http://www.trinity.edu/rjensen/hypocrisyEvilEmpire.htm
Hope this helps,
Bob Jensen
A great site for young people: In 1928 it was for farm children. Now
it's for all children of the world.
FFA is a positive example of what works in education.
The National FFA Organization is a dynamic youth organization that changes lives
and prepares students for premier leadership, personal growth and career
success Today, almost half-a-million student members are engaged in a wide
range of agricultural education activities, leading to more than 300
professional career opportunities. Student success remains the primary mission
of FFA.
The National FFA Organization ---
http://www.ffa.org/
A great site for old people (while it lasts for free online)
Business Week's Free Video on Aging ---
http://businessweek.feedroom.com/iframeset.jsp?ord=656106
Scientists are exploring ways to extend life and slow
aging
Catherine Arnst, "Forever Young," Business Week, March 4, 2005
There are other video modules on current news headlines at
http://businessweek.feedroom.com/iframeset.jsp?ord=271262
I keep telling you that you should
listen to Norwegians
An economics textbook by James D. Gwartney and Richard
L. Stroup cites the interesting case of drunk driving in Norway, "the country
that has the toughest drunk-driving laws in the Western world. Drinking a single
can of beer before driving can put a first offender in jail for a minimum
sentence of three weeks. These drivers lose their licenses for up to two years
and often get stiff fines as well. Repeat offenders are treated even more
harshly. These laws are far more Draconian than those of the United States. And
the results? "1. One out of three Norwegians arrives at parties in a taxi,
while nearly all Americans drive their own cars. 2. One out of 10 Norwegian
party-goers spends the night at the host's home; Americans seldom do. 3. In
Norway, 78% of drivers totally avoid drinking at parties, compared to only 17%
of American drivers."
K. Ravi Nair (an economics professor), "Sober Norway, Land Of the Safe Driver,"
The Wall Street Journal, March 2, 2005 --
http://online.wsj.com/article/0,,SB110972852841667887,00.html?mod=todays_us_opinion
Jensen Comment: And here's the best ploy of the Norseman male on the date: "Is
it all right if I stay over? Otherwise I might have to spend three weeks in
jail and lose my driving license."
Which brings me to my favorite Ole and
Lena yoke:
Ole was talking with
his brother Sven, who lived next door, when Sven said, "Ya know Ole, you and
Lena should really get some new curtains."
"Vhy's dat?" Ole
asked.
"Vel last night I saw
you and Lena, vel ... doing you know .. in bed."
Ole thought for
awhile, then said, "Ha-ha Sven, da yoke's on you! I vasn't even home last
night! I been in Stavanger."
For Sven, Ole, and Lena stories, try
the following:
http://www.newnorth.net/~bmorren/olelena.html (with music)
Q: Is it true that if credit-card disputes go longer than 60 days, they
must be resolved in favor of the card holder?
A: Card issuers must adhere to certain procedures when
resolving disputes or the card holder automatically wins, but an exact 60-day
time limit isn't one of them. Under the Fair Credit Billing Act, the creditor
must acknowledge a card holder's letter pointing out a billing error within 30
days and either fix the bill or tell the customer why the bill is correct within
two billing cycles and not longer than 90 days. During this period, the issuer
also cannot release damaging information about the card holder to another
creditor or credit bureaus. If the issuer fails to follow the rules, it loses
the right to collect the disputed amount, and related finance charges, up to
$50, even if the bill was correct.
Currie Smith," Credit-Card Disputes, The Wall Street Journal, March 3,
2005; Page D1---
http://online.wsj.com/article/0,,SB110981567203569105,00.html?mod=todays_us_personal_journal
Jensen Comment: For more information on the Fair Credit Billing Act go to
http://www.ftc.gov/os/statutes/fcb/fcb.pdf
How to Fix The Tort System
Does this mean there's no case against the tort system? Not at
all. Just that the strongest evidence of plaintiffs' lawyer misconduct doesn't
rest on broad economic data. Rather, the real crisis lies in the proliferation
of specific types of bogus cases -- ones in which nobody has been injured, no
malfeasance has occurred, or regulators have already taken care of the problem.
Despite their claims of being selfless safety advocates, plaintiffs' attorneys
in 2005 are analogous to chief executives in 1999: Most of the players are
making an honest living. But an unacceptably high percentage of them are
stretching the rules. BusinessWeek's four-part solution to the problem is based
on a set of pragmatic principles, with some parallels to those being used to
clean up Corporate America. Like CEOs, lawyers should, first of all, be paid for
performance. They shouldn't be allowed to take home multimillion-dollar
paychecks if clients get pennies. Second, they shouldn't be able to cash in when
they're merely piling on to government crackdowns. Third: When attorneys break
the rules, the punishment should sting. These days, lawyers who file frivolous
suits barely get their wrists slapped. These simple reforms would eliminate the
most abusive cases while preserving the rights of victims. In the rare cases
where they did not go far enough, such as asbestos, a far more radical change --
exiting the courts altogether -- may work better.
"How to Fix The Tort System," Business Week (Four-Part Series), March 14,
2005 ---
http://www.businessweek.com/magazine/content/05_11/b3924601.htm?campaign_id=nws_insdr_mar4&link_position=link1
low percentage of people who truly benefit from class actions
The single most scandalous thing about the American tort system is the low
percentage of people who truly benefit from class actions. It's no mystery why
this happens. Defendants want to keep redemption rates low -- and many
plaintiffs' lawyers don't care. Their fees are set when deals are signed and
pegged to a high theoretical number of claimants. And judges are way too busy to
bird-dog settled disputes. This distorted set of incentives produces
unintelligible award notices buried deep in newspapers, burdensome forms to fill
out, and short claim periods. Solution: Reverse the economics of class-action
settlements. Plaintiffs' lawyers should be paid after victims collect their
money -- not before. This would have two benefits. First, it would make lawyers
more aggressive about getting the word out to class members. Second, and more
important, it would filter out a high percentage of the system's silliest
claims. One of the main reasons people don't bother to collect class-action
benefits is that they don't perceive any injury in the first place.
"Pay for Performance," Business Week (Four-Part Series), March 14, 2005
---
http://images.businessweek.com/ss/05/03/reform/index_01.htm
Why not ask me? I've got theories
on everything
"We are nowhere close to an accurate, purely physical
theory of everything," Penrose told
Nature earlier this year. Indeed, Penrose's newly published
1,099-page treatise -- The Road to Reality: A Complete Guide to the
Laws of the Universe -- expends little ink ruminating over what is
not known. Rather, The Road to Reality is as rigorous and
exhaustive a map to the "theory of nearly everything" as a reader could hope to
find today.
Mark Anderson, "Penrose: The Answer's Not 42," Wired News, March 2, 2005
---
http://www.wired.com/news/culture/0,1284,66751,00.html?tw=wn_tophead_2
Bob and Jennie: We've got almost
all the symptoms
In the early '90s, psychiatrists and clinicians were
beginning to hear of a new medical term, "internet addiction." At first, this
was met with a lot of skepticism and denial, however, it became evident that the
more people logged on to cyberspace, the more they got hooked.The 10 Symptoms
You Need To Watch Out For:
AskMen.com ---
http://www.askmen.com/fashion/body_and_mind/16_better_living.html
What professions perhaps have the most inside (economic) track to
legislators in the U.S.?
The center found that the number of legislators and
their spouses employed in education--including elementary and secondary schools,
colleges, and educational associations--was exceeded only by the number of
legislators and their spouses employed in the legal system. In higher
education, about 7 percent of legislators or their spouses were affiliated in
some way with an institution or organization. The study found that one-third of
lawmakers who had a personal stake in higher education also sat on their
legislature's education committee. Leah Rush, the center's director of state
projects, says lawmakers often cite state ethics laws in saying that the public
is protected from conflicts of interest. But this report "takes the window
dressing off of these ethics laws," she says.
Joseph Gidjuis, "Sudy Questions Economic Ties Between Colleges and State
Lawmakers," The Chronicle of Higher Education, October 8, 2005, Page
A26.
This university's piggie-lobbyist went to market, this ...
The investment seems to be paying off. In the NIH
budget article, for instance, the reporters noted that Congress actually doubled
the NIH's funding between 1999 and 2003. Similarly, according to the College
Board's Trends in Student Aid 2004, total inflation-adjusted federal student
aid—which ultimately ends up in the pockets of colleges and universities—more
than doubled between the 1993-94 and 2003-04 academic years, totaling more than
$81 billion in 2003-04. The most direct payoff, however, has been in higher
education "pork"—projects earmarked for specific schools rather than awarded
through competitive grants—which, according to the Chronicle, rose from $296
million in 1996 to over $2 billion in 2003. How do colleges and universities get
such projects? "Members of Congress...choose recipients...based on their own
judgments, often after lobbying by the colleges seeking the money," according to
the newspaper.
"Pork U., "Higher ed's scramble for federal cash," ReasonOnLine, March 1,
2005 ---
http://www.reason.com/hod/nm030105.shtml
Jensen Comment: Read what Ohio University economist Richard Vedder has to say
in
Going Broke By Degree: Why College Costs Too Much
Only the winners decide what were war crimes.
Gary Wills
Japanese reactionaries are using the "abduction
issue"?
A spokesman for the Committee for the Peaceful
Reunification of the Fatherland in a statement Saturday scathingly denounced the
moves of the Japanese reactionaries to institute the "Day of Tok Islet" and the
remarks of the Japanese ambassador to south Korea that Tok islet belongs to
Japan as a very dangerous behavior fully revealing their brigandish nature and
shameless ambition for territorial expansion and a heinous move to seize part of
the inalienable territory of Korea. He said: The Japanese reactionaries have
become so brazenfaced as to make a claim to Tok Islet, while insisting that it
belongs to Japan. This is a rash act which can be committed only by the
political gangsters and rogues who are utterly indifferent to history and
international law. We can never allow the Japanese reactionaries to insult the
Korean nation and grab part of the inalienable land of Korea. All Koreans should
wage a more resolute struggle to shatter Japan's moves to grab the islet and
force it to apologize and compensate for its past crimes. Japan would be well
advised to properly understand the ever mounting anti-Japanese sentiment of the
Korean nation and its bitter hatred, stop acting rashly and discontinue at once
its brigandish moves to grab the islet.
"Japan's Ambition for Territorial Expansion Assailed," North Korea News,
March 5, 2005 ---
http://www.kcna.co.jp/item/2005/200503/news03/07.htm#8
The ACLU wants crosses removed from all government
property, but firmly draws a line on cemeteries and, I assume, museums. If
exceptions are to me made who should decide where to draw the line ---
http://www.aclu.org/info/info.cfm?ID=14684&c=248#3_8
In the grand scheme of things, I think this is one of those things that is out
of perspective given all the problems of the world.
Remove religious monuments from public property: Is it the name of
religion or history?
When the epic was done, DeMille went into publicity overdrive. He funded the
Fraternal Order of Eagles' promotion of Ten Commandments displays. One of the
monuments landed on the grounds of the Texas capitol where -- fast forward -- a
homeless lawyer happened upon it and took his protest all the way to the US
Supreme Court. The tale of the Texas monument was one of two Ten Commandment
cases heard Wednesday. The other was about the framed copies of the biblical
Decalogue placed in some Kentucky courthouses. The Supremes will have to decide
whether putting the commandments in public spaces amounts to a state endorsement
of religion, or whether it is merely an acknowledgment of their historic
influence on the law. In the words of Justice Antonin Scalia, ''I bet that 90
percent of the American people believe in the Ten Commandments, and 85 percent
couldn't tell you what they all are." The whole Ten Commandments furor is
fueled by religious conservatives and then handed to lawyers who offer a secular
defense. In this case, Texas Attorney General Greg Abbott defended the 6-foot
stone bearing the words ''I am the Lord thy God" by saying it was just one
presence in a ''museum-like" setting filled with homages to other ''historical
influences." Kentucky's Matthew Staver defended the displays that were meant to
illustrate ''America's Christian heritage" by saying they were merely a part of
an historic tableau. The historic cover story for a religious message tells you
just what sort of a mess we are in. As Douglas Laycock of the University of
Texas Law School says, ''The court has said that the government cannot endorse
religion, and the government keeps doing it anyway. Then religious groups are
forced to defend it in court by saying it isn't religion at all -- it's about
the foundations of American law or it's an historical landmark."
Ellen Goodman, "Monuments to God or history?" Boston Globe, March 6, 2005
---
http://www.boston.com/news/globe/editorial_opinion/oped/articles/2005/03/06/monuments_to_god_or_history/
Keeping church and state separate in
public schools may not be easy
Muslims want to ensure their children grow up with
values Six Islamic groups, accounting for 70% of Germany's Muslims, plan to
unite under one umbrella to push for having Islam taught in public schools. The
groups want to ensure that Islam can be taught in German in public schools to
better integrate children and prevent misinterpretations. It is vital to resolve
this problem and ensure that Islam is enrolled in school curriculums, said
Nadeem Elyas, president of the central council of Muslims, one of the groups.
"If we don't, the next...
"German Muslims want Islam in class," Aljazeera, March 2, 2005
---
http://english.aljazeera.net/NR/exeres/719395FB-338E-4C18-8B03-2B70789FDBA3.htm
U.S. Population Explosion
The 1970 U.S. Census placed America's population at
about 200 million people. Shortly thereafter, the bipartisan Rockefeller
Commission issued a report that concluded that there would be no public benefit
to further U.S. population growth. In the ensuing 35 years, U.S. population has
swelled by 50 percent and we stand on the brink of surpassing 300 million
people. How did this astounding population explosion occur? A new study
published by the Federation for...
"Immigration Drives Rapid U.S. Population Growth," FairUS, March 1, 2005
---
http://www.fairus.org/media/media.cfm?id=2638&c=34
Bad science frightening the poor: Better to let them continue to be
hungry and maybe starve?
Activists are again trying to frighten poor people in
developing countries by claiming the U.S. is poisoning them with genetically
modified food. Never mind that 280 million Americans have been eating
biotech-enhanced crops for nearly a decade with zero evidence that it has caused
anyone so much as a sniffle or a bellyache.
Ronald Bailey, "Attack of the Killer Crops? Activists still trying to scare poor
farmers with bad science," ReasonOnLine, March 2, 2005 ---
http://www.reason.com/rb/rb030205.shtml
Brazil Passes Law Allowing Crops With Modified Genes
After months of delays and heated debate, legislators
passed a biotechnology law late Wednesday night by a vote of 352 to 60. The bill
had pitted farmers and scientists against environmental and religious groups.
Besides lifting a longstanding ban on the sale and planting of gene-altered
seeds, the legislation also clears the way for research involving human
embryonic stem cells that have been frozen for at least three years
Todd Benson, "Brazil Passes Law Allowing Crops With Modified Genes," The New
York Times, March 4, 2005 ---
http://www.nytimes.com/2005/03/04/business/worldbusiness/04gene.html
Jensen Comment: I also hope Brazil launches a major stem cell research
initiative since the U.S. is dragging its Republican feet.
An entirely new definition of bankruptcy: What you don't know about a
pending bill might hurt you
"Most of the credit cards that end up in bankruptcy
proceedings have already made a profit for the companies that issued them," said
Robert R. Weed, a Virginia bankruptcy lawyer and onetime aide to former
Republican House Speaker Newt Gingrich. "That's because people are paying so
many fees that they've already paid more than was originally borrowed," he
said. In addition, some experts say, the changes proposed in the Senate bill
would fundamentally alter long-standing American legal policy on debt. Under
bankruptcy laws as they have existed for more than a century, creditors can
seize almost all of a bankrupt debtor's assets, but they cannot lay claim to
future earnings. The proposed law, by preventing many debtors from seeking
bankruptcy protection, would compel financially insolvent borrowers to continue
trying to pay off the old debts almost indefinitely . . . Debate about the bill
continued Thursday, with the Republican-controlled Senate refusing to limit
consumer interest rates to 30%. The vote was a bipartisan 74 to 24 to kill a
proposed amendment by Sen. Mark Dayton (news,
bio,
voting record) (D-Minn.). Senate passage of the bill is expected next week.
Peter G. Gosselin, "Credit Card Firms Won as Users Lost," The Los Angeles
Times, March 4, 2005 ---
http://snipurl.com/LAtimesMarch4
Bob Jensen Comment: I think bankruptcy has been abused by rip off artists and
the law needs to be changed. This pending bill, which most likely will pass,
however got high jacked by the rip off artists called credit card companies.
Surprise! Surprise! Fat butts are
always more protected in Washington DC.
The bankruptcy legislation being debated by the Senate
is intended to make it harder for people to walk away from their credit card and
other debts. But legal specialists say the proposed law leaves open an
increasingly popular loophole that lets wealthy people protect substantial
assets from creditors even after filing for bankruptcy. The loophole involves
the use of so-called asset protection trusts. For years, wealthy people looking
to keep their money out of the reach of domestic creditors have set up these
trusts offshore. But since 1997, lawmakers in five states - Alaska, Delaware,
Nevada, Rhode Island and Utah - have passed legislation exempting assets held
domestically in such trusts from the federal bankruptcy code. People who want to
establish trusts do not have to reside the five states; they need only set their
trust up through an institution in one of them.
Gretchen Morenson, "Proposed Law on Bankruptcy Has Loophole," The New York
Times, March 2, 2005 ---
http://www.nytimes.com/2005/03/02/business/02bankrupt.html
Bob Jensen's threads on credit card company dirty secrets are at
http://www.trinity.edu/rjensen/FraudReporting.htm#FICO
This isn't corny: Poets v. U. of Iowa Press
The University of Iowa is known for its Writers'
Workshop, so it's no surprise that the University of Iowa Press builds on that
literary reputation with annual prizes for poetry and short fiction. In recent
weeks, an anonymous Web site has begun a campaign against the press, arguing
that it favors entries with connections to the university. The Web site, Poetry,
calls itself "the poetry watchdog" and boasts of its role "exposing the
fraudulent 'contests,' tracking the sycophants, naming names." The Web site is
urging poets to send letters to consumer advocates, state officials and the
university's president, and to lawyers who might help with a class action
lawsuit (based on Foetry's view that participants are duped into paying the $20
entry fee, unaware that they may have little chance of winning if they don't
have Iowa ties). At the Iowa Press, officials are astonished to find themselves
under attack by an army of poets and poetry fans -- most of them anonymous.
Scott Jaschik, "Poets v. U. of Iowa Press," Inside Higher Ed, March 4,
2005 ---
http://insidehighered.com/insider/poets_v_u_of_iowa_press
Dark clouds move in over Auburn's sensational football season
But when black educators at Auburn and black legislators in Montgomery didn't
like the answers they received to questions about those who lost their jobs,
matters deteriorated. Alabama's black legislative caucus has called for black
athletes to boycott the university, with a leader of the boycott effort calling
Auburn "one of the most racist universities in the world." And the Rev. Al
Sharpton is now getting involved,
saying that he will mobilize his supporters to back the boycott of a
university with "a history of blatant discriminatory practices." All of this
activity is taking place as the university
released a long-awaited report on efforts to promote diversity. And that
report follows a letter from black faculty and students leaders demanding that
the president do more to recruit and retain minority students and faculty
members. The general feeling among many black scholars is that Auburn is
terrified of the boycott, suggesting that some of the university's leaders are
more concerned about black people who can hold a ball than those who hold
doctorates.
Scott Jaschik, "Race, Sports and Professors," Inside Higher Ed,
March 3, 2005 ---
http://www.insidehighered.com/insider/race_sports_and_professors
Raising the bar for a free education
In an effort to outdo its rivals, Yale University said
yesterday that it would no longer require parents earning less than $45,000 a
year to pay anything toward their children's educations. Harvard announced a
similar program last year, freeing parents who earn $40,000 or less from paying
anything, and the change helped raise its applications to record levels. Several
of Yale's other competitors, including Princeton, have taken a slightly
different approach by no longer requiring loans for low-income students, and
they also believe the move helped increase applications.
Greg Winter, "Yale Cuts Expenses for Poor in a Move to Beat," The New York
Times, March 4, 2005 ---
http://www.nytimes.com/2005/03/04/education/04yale.html
Also see
http://www.insidehighered.com/insider/yale_plays_catch_up_on_financial_aid
But this does not solve our larger problem: What about the ones who don't
go on to school?
Job Sprawl and the Spatial Mismatch between Blacks and
Jobs ---
http://www.brookings.edu/metro/pubs/20050214_jobsprawl.pdf
New technologies for the deaf and blind
The isolated world of deaf-blind impaired people is
slowly being cracked open by new devices, from hockey pucks that rattle to beds
that shake sleepers awake. And an age-old technique - the eyes and ears of
others who intervene to help them communicate - is also being used to greater
effect. "Just so many opportunities have opened because of intervention," says
Sayer, who lives in Winnipeg. Many people like her need interveners "to be able
to go out, even leave their homes - to do our shopping," she said
Eric Shackleton, "Isolated world of deaf-blind being cracked open by new
technologies," Canadian Press, March 3, 2005 ---
http://www.canada.com/technology/news/story.html?id=d1bc4012-08f4-4a3f-aca3-04401dbb07d7
Mysterious mental abilities
"Mirror neurons promise to do for neuroscience what DNA did for biology,"
neurobiologist V.S. Ramachandran of the University of California, San Diego, has
written, explaining "a host of mental abilities that have remained mysterious."
Sharon Begley, "How Mirror Neurons Help Us to Empathize, Really Feel Others'
Pain," The Wall Street Journal, March 4, 2004, Page B1 ---
http://online.wsj.com/article/0,,SB110989327130070064,00.html?mod=todays_us_marketplace
When you really need to think, sniff the roses
New research suggests people with synesthesia may be
better problem solvers. Tasting sounds and smelling colors could be good for
cognition. Neuroscientists think the condition occurs because certain regions
of the brain "cross-activate" at the same time. So the tone perception center,
for example, may be linked with the taste perception center. And studying
synesthetes is giving clues to the working of the brain, one of the most complex
structures in the universe. "Synesthesia shows how many variations in normal
brain function are possible," said Michaela Esslen, of the department of
neuropsychology at the University of Zurich, Switzerland.
Rowan Hooper, "Rainbow Coalition of the Brain," Wired News, March 4, 2005 ---
http://www.wired.com/news/medtech/0,1286,66770,00.html?tw=wn_tophead_5
Brain Tissue Bank
A brain tissue bank that will allow researchers to
study sudden deaths from a variety of causes is to open in Edinburgh. During a
two-year project starting on Wednesday, a group of researchers are to collect
healthy and diseased tissue samples that will help them study drug abuse,
epilepsy, severe asthma, cot death and suicide and other conditions.
"UK home to first brain bank,"
Aljazeera, March 2, 2005 ---
http://english.aljazeera.net/NR/exeres/ADEEA091-EFB7-4093-844D-7620460E05FB.htm
Jensen Comment: There may be a technical problem with defining a "healthy"
brain when you consider alcohol usage, aging differentials (male vs. female),
etc. However, researchers will apparently identify "healthy" by some definition
in contrast to "severe" abnormalities.
Please don't put Nancy Soderberg's brain tissue under the "healthy"
category of the Brain Bank
There's always hope that this might not work.
(with reference to positive change in the Middle East while the Republicans are
still in power.)
Comedy Central's "The Daily Show" featuring Jon Stewart" March 1, 2005
This clip might eventually be available at
http://www.comedycentral.com/tv_shows/thedailyshowwithjonstewart/videos_corr.jhtml?p=stewart
Jensen's Comment: This is a Comedy Central show, but if you watch the segment
you have to believe she's serious. Even Jon Stewart buried his head in his
hands and tried to hide.
Clinton aide Nancy Soderberg is the author of The
Superpower Myth: The Use and Misuse of American Might
http://www.wiley.com/WileyCDA/WileyTitle/productCd-0471656836.html "
(foreword by Bill Clinton, blurb by Madeleine Albright)
Oh No! How can there be tantalizing signs of change before Bush departs
in 2008?
There's always hope that this might work.
The Arab world is beginning to show tantalising signs
of change. But it is too early to talk of a year of revolutions, as the three
prime exhibits being used to make the case for democracy—Iraq, Lebanon and
Palestine—are in many ways special cases.
"Something stirs
," The Economist, March 3, 2005
---
http://www.economist.com/agenda/displayStory.cfm?story_id=3722882
Is it possible for a "dim-bulb" to turn into shining light?
Nick Gillespie was right to pooh-pooh the view that "[a]t
every step of his career, [George W.] Bush has been written off as a lightweight
and a loser, a dim bulb whose grasp exceeds his reach and whose I.Q. is stuck
somewhere in the high double digits." I once referred to him as a "cretin," and
the laugh is surely on me, though this was in the context of a successful
endorsement. Like Ronald Reagan in Eastern Europe, Bush has shown in the Middle
East that simple, indeed simplistic, ideas can go a long way when expressing the
frustration and anger of populations afflicted with tyrannies refusing to accord
them even minimal respect.
Michael Young, "Free at Last? Some Arabs welcome American democratic
browbeating," ReasonOnLine, February 24, 2005 ---
http://www.reason.com/links/links022405.shtml
Arab reforms must come from within
Some argue that introducing political reform to the
Arab world is not a choice but an
imperative given that
Arab governments are interested in bringing their nations up to speed with
the rest of the world.
Amr Musa, the
secretary-general of the Arab League, tells Aljazeera.net in an
exclusive interview that reforms must come from within.
Aljazeera, March 2, 2005 ---
http://english.aljazeera.net/NR/exeres/967715B8-276C-4708-AC08-7FD102E13BA7.htm
First estimate $400 billion, Revised estimate $1.2 trillion: Where were
the accountants?
The administration's last official ten-year cost
projection—that the new Medicare law would cost $534 billion over ten years—was
deservedly controversial. The administration hid the estimate while publicly
touting a much lower estimate ($400 billion). Thus most observers were
suspicious when the president's budget was released last week. The latest
estimate, which projected the cost of just the drug benefit, was much higher:
$1.2 trillion over 10 years. This is not directly comparable to the previous
projection, for a number of reasons. First, it is a gross figure that does not
include offsets that will accrue to the Treasury. Accounting for these brings
the 10-year cost projection for the drug benefit to a net $725 billion.
"A Billion Here, a Billion There: Fuzzy math on the Medicare prescription drug
benefit," ReasonOnLine, February 28, 2005 ---
http://www.reason.com/hod/mc022805.shtml
My unfinished essay on the "Pending Collapse of the United
States" ---
http://www.trinity.edu/rjensen/entitlements.htm
The Medicaid Diet Plan for all 50
States
State governors ended their winter meeting without
resolving differences with the Bush administration over how to curb spending on
Medicaid. Many governors said they support some facets of the Bush plan to
revamp the joint federal-state health-care program for the poor -- especially
proposals to give states greater ability to provide slimmer benefits to some
Medicaid recipients and charge them higher co-payments when they go to the
doctor or fill a prescription.
Sarah Lueck, "Governors Balk at Medicaid Plan," The Wall Street Journal,
March 2, 2005; Page D8 ---
http://online.wsj.com/article/0,,SB110969167792867064,00.html?mod=todays_us_personal_journal
Add this one "One Time Incident
Warnings" highlighted recently by Janet Jackson, Ward Churchill and Lawrence
Summers. (Michael Jackson doesn't count since he's allegedly a repeat
offender.)
But just a few weeks later, more than 300,000 people have signed the petition,
which reads, in part, "We, the undersigned, are disgusted with Ashlee Simpson's
horrible singing and hereby ask her to stop." Decker has given numerous
interviews, and has even gone on national television to discuss her Web site,
( http://www.StopAshlee.com
). Being an Ashlee Simpson non-fan has become a
full-time job for Decker. "I was not expecting anywhere near this," says Decker,
18, who lives in New York City. "It's crazy. "Ever since Simpson's disastrous
appearance on "Saturday Night Live" late last year, she has been the focus of a
bunch of controversy--and criticism. On the show, she was caught lip-syncing on
camera, something she blamed first on her band, then on acid-reflux disease. And
in an incident almost as famous, she was booed during her performance in January
at the Orange Bowl.
"Forgive and forget? Ashlee Simpson's blame game enrages some, makes
others shrug." Chicago Tribune, March 1, 2005 ---
http://www.chicagotribune.com/technology/chi-0502280305mar01,1,2778714.story?coll=chi-techtopheds-hed
Who's
Bible is it?
There are several questions that might occur to anyone
who opens a Bible. How, for instance, did its separate books come to be written?
Who decided to put them together? And why do Catholics and Protestants have
different Bibles? Although Jews and Christians believe their collections of
Scripture to be inspired -- in other words, ultimately composed -- by God, a
great deal of human industry clearly went into them. How are we to measure this
human element and account for it? It is such questions that Jaroslav Pelikan
sets out to answer in "Whose Bible Is It?" (Viking, 274 pages, $24.95),
an engaging and highly readable survey of biblical scholarship that tells a
fascinating and complex story.
George Sim Johnston, "The Battle of the Book," The Wall Street Journal,
March 2, 2005; Page D9
Capitalism roaring in a former communist-leaning
nation
There is growing acceptance of India as a successful
high-growth story. Growth has steadily accelerated from 1980 onwards. And this
has been achieved simultaneously with nearly 60 years of faithful adherence to
democratic norms and traditions. The enshrining of democratic principles in a
newly independent country might have involved some initial "fixed costs." But
democracy is the only legitimate and stable foundation for a society. India,
having paid those "fixed costs," now appears to be reaping the dividends.
P. Chidambaram, "A Passage to Prosperity," The Wall Street Journal, March
4, 2005, Page A14 ---
http://online.wsj.com/article/0,,SB110989798197470243,00.html?mod=opinion&ojcontent=otep
My
unfinished essay on the "Pending Collapse of the United
States" ---
http://www.trinity.edu/rjensen/entitlements.htm
The Vioxx
fallout hits multiple sclerosis patients.
Tysabri had received accelerated approval from the
FDA just three months ago because clinical trials had shown it to be twice as
effective as alternative therapies in preventing flare-ups of MS, which is a
degenerative and eventually fatal disease. Tysabri is also easier to take than
alternative treatments, and tolerated by a subset of MS patients who can't take
the others at all. But for the indefinite future everyone will have to do
without because two of the thousands of patients who've received Tysabri
developed a rare neurological disorder. Those two patients happened to also be
on another immuno-suppressive MS treatment called Avonex. There is no reason to
believe that Tysabri has caused this disorder when used alone. There's plenty
of blame to go around here, starting with the trial lawyers and their climate of
fear. Congressmen who demagogue about non-existent FDA safety "lapses" aren't
much better. But we're also disappointed with CEOs who imagine they're doing
patients and shareholders a favor with such rash decisions. In retrospect, Merck
CEO Ray Gilmartin only strengthened the hand of the lawyers by withdrawing Vioxx
when the FDA would have been content with relabeling.
"Drug Twilight Zone," The Wall Street Journal, March 2, 2005; Page A16
---
http://online.wsj.com/article/0,,SB110972765984167851,00.html?mod=opinion&ojcontent=otep
Confidential Privileges of Bloggers?
If the court, in Santa Clara County, rules that
bloggers are journalists, the privilege of keeping news sources confidential
will be applied to a large new group of people, perhaps to the point that it may
be hard for courts in the future to countenance its extension to anyone. "It's
very serious stuff," said Brad Friedman, who describes himself as an
investigative blogger (his site is bradblog.com). "Are they bloggers because
they only publish online? I think you have to look at what folks are doing. And
if they're reporting, then they're reporters."
Jonathan Glater, "At a Suit's Core: Are Bloggers Reporters, Too?," The New
York Times, March 7, 2005 ---
http://www.nytimes.com/2005/03/07/technology/07blog.html
All our
knowledge merely helps us to die a more painful death than animals that know
nothing.
Maurice Maeterlinck
Pavlov's Welfare State
It is stunning that anyone could continue to claim that
Europe still sets the global standard for social justice when 19 million people
across the EU are unemployed. Instead of facing the reality of globalization,
many so-called social leaders prefer to impose an intolerable burden on Europe's
young by encouraging governments to run unsustainable budget deficits in the
futile hope of a painless Keynesian recovery. These self-styled social
missionaries are in fact ideologically bound to the 19th-century industrial age.
While there may have been a time when working less, vacationing more, retiring
earlier and demanding higher pay irrespective of economic realities was
justified, today we urgently need a more contemporary notion of what constitutes
good social policy.
Ann Mettler, "Pavlov's Welfare State," The Wall Street Journal, March 3,
2005 ---
http://online.wsj.com/article/0,,SB110980327751868732,00.html?mod=opinion&ojcontent=otep
A Tale of Two Models
In practice, for at least three decades now, the net
adjustment has invariably been one way -- in favor of labor. This is how the
intricate system of entitlements of European welfare states has gradually been
built up. Translated into moral terms, "social justice" was being done. No one
thought of asking whether social justice can cut both ways and if it could, why
it always cuts only one way. As was to be expected, reality in due course
caught up with the European model, causing it increasingly to backfire in the
face of the politicians who still pretended to steer it. Above all else, the
model radically stifles the demand for labor, generating a seemingly incurable,
endemic unemployment that for years has stuck at around 10% in the major
euro-zone economies that still believe in the model, while it is only 4%-5% in
Britain and other European users of the rival "liberal" model. This is a fact
even French politicians recognize, although they refuse to accept responsibility
for it. It does not, in itself, warrant an article in The Wall Street Journal.
But it has intriguing implications that perhaps do, for they have not so far
been openly discussed. Built-in unemployment around 10% is caused by two
features of the European model. One is the weight of vast schemes of social
insurance financed via payroll taxes, whose cost is greater than their value to
the insured wage-earner. Hence the cost of wages exceeds their value and the
demand for labor stays chronically deficient. The other, perhaps less powerful,
cause is job protection. Labor laws, meaning well, make the shedding of labor so
difficult and expensive that employers are afraid of taking the risk of hiring.
They either resort to short fixed-term jobs or just make do with the staff they
have. Both these features of the European model -- social insurance and job
protection -- are, of course, meant to favor labor over capital. But in
practice, they do the exact opposite.
Anthony De Jasay, "A Tale of Two Models," The Wall Street Journal (Europe),
March 2, 2005 ---
http://online.wsj.com/article/0,,SB110971966576567617,00.html?mod=opinion&ojcontent=otep
Jensen Comment: It's against the law to throw live bodies overboard to save
lives ---
http://www.cise.ufl.edu/class/cgs3065/reginavdudley.html
-Dudley and
Stephens 1884 –unwillingness to recognize starvation of group as justification
or excuse for murder of one to save the larger group. –Can’t be a justification
because it is not morally right to take a life to save yours or even a group?
–Can’t be an excuse either because it is just too difficult to calculate who
should live and die and would set dangerous precedent? So pass the buck to the
executive authorities re the exercise of mercy and keep the law “pure” as an
expression of human morality?
"CRIMINAL LAW (ESAU) OUTLINE #18: SECTION SIX: DEFENCES: JUSITIFICATIONS AND
EXCUSES ---
http://www.umanitoba.ca/faculties/law/Courses/esau/criminal/chap18.html
Jensen Comment: But creating unemployment in one sector to the betterment of
other sectors is not really the same as extermination of the unlucky sector.
The problem of today is one of redeploying the other sector, and that's no easy
problem since the age and abilities of the troubled sector usually become huge
hurdles in redeployment. There are no easy answers here, but something has to
be done to save a sinking ship.
Who get hurt worst in building
tariff walls: In the short term it's the poorest nations of the world
Restrictive standards simply protect some producers at
the expense of others and the most likely to be hit in the case of coffee are
the very poorest producers in Africa and Asia. . . The European Union is amongst
the worst organisations in this regard. In protecting our own farmers with
subsidies of about $2 a day for keeping a cow we are harming third world farmers
who have to live on less than that.
Ian Whyte, "Myths of Fairtrade goods hurt the poorest," The
Scotsman, March 2, 2005 ---
http://news.scotsman.com/opinion.cfm?id=228722005
Waiting for Godot: Waiting and Waiting and Waiting
German Chancellor Gerhard Schröder was conveniently out
of the country when the news hit yesterday that that the country's unemployment
figure rose to over 5.2 million, or 12.6%, a new post-war record. One would have
to go back to 1932, the year before Hitler came to power, to find more Germans
out of work. In the past, Europe's left has had two prescriptions for low
growth: cheap money and deficit spending. But the European Central Bank's
mandate is to preserve price stability. Besides, with real interest rates around
zero and inflation right at its 2% target, the ECB is doing already enough to
boost the economy. And though some in Mr. Schröder's Social Democratic party
want a government investment program, New Deal-type policies have been largely
discredited in Germany. What really needs to be done -- cutting taxes and red
tape and making the labor market more flexible -- has been discussed ad nauseam
in the German media. Why is it then not being done? Simply because of a lack of
political courage. Tackling issues such as Germany's iron rules on dismissals
would pit the chancellor against those 38 million who still have a job in order
to help those nine million without work. Better to blame the malaise on
exogenous factors, such as euro strength or high oil prices, and promise a
better tomorrow via overly optimistic growth forecasts that need constant
downward revisions.
"Waiting for Godot," The Wall Street Journal, March 2, 2005 ---
http://online.wsj.com/article/0,,SB110971818698567568,00.html?mod=opinion&ojcontent=otep
And while we're on the subject of
sinking ships
There's an obscure branch of mathematics known as
"catastrophe theory," which looks at how a small perturbation in a previously
stable system can suddenly produce dramatic change. A classic example of the
theory is the way a bridge, after bearing immense weight for many years, can
suddenly collapse because of a new stress. We are now watching a glorious
catastrophe take place in the Middle East. The old system that had looked so
stable is ripping apart, with each beam pulling another down as it falls. The
sudden stress that produced the catastrophe was the American invasion of Iraq
two years ago. But the Arab power structure has been rotting. And what's
bringing it down is public anger.
David Ignatius, " 'Glorious Catastrophe' in the Middle East," The Washington
Post, March 2, 2005 ---
http://online.wsj.com/article/0,,SB110971872291267585,00.html?mod=opinion&ojcontent=otep
Let's get rid of the International Monetary Fund: Lend to deadbeats at
your own risk
This week the jury came in. The completion of the
Argentine bond restructuring offer, executed without the intermediation of the
fund, makes the case that the SRDM is more an invention of an overgrown
bureaucracy in search of a mission than a necessary addition to the world
financial system. Indeed, the Argentine restructuring is good ammo for those
who want to close the fund: 30 years after the collapse of the Bretton Woods
agreement and the end of the balance-of-payments crises under a gold exchange
standard, the IMF can still find no meaningful role other than as a political
slush fund for the G-7 major industrial nations.
Mary Anastasia O'Grady, "Argentina's Lessons for Global Creditors," The Wall
Street Journal, March 4, 2005; Page A15 ---
http://online.wsj.com/article/0,,SB110989847475270265,00.html?mod=opinion&ojcontent=otep
Not much profit from looking inward
GE expects to get as much as 60% of its revenue growth
from developing countries over the next decade, Chairman and CEO Jeffrey Immelt
said in the company's annual report, making a major shift from the past decade.
After nearly four years of reshaping the company through $60 billion in
acquisitions of financing, water treatment, security systems, bioscience
businesses and a movie studio, Mr. Immelt said in his letter to shareholders,
"we have prepared to make our own growth in a slow-growth, more volatile world."
Kathryn Kranhold, "GE Pins Hopes on Emerging Markets: Strategy Is Major Shift
From Reliance on the West; Big Rivals Echo Approach," The Wall Street Journal,
March 2, 2005; Page A3 ---
http://online.wsj.com/article/0,,SB110972499521267783,00.html?mod=home_whats_news_us
A week after
President Bush toured Europe to try to patch up the tattered trans-Atlantic
relationship, the American car industry is embarking on its own charm offensive.
Whether Detroit will make more headway than Washington is anybody's guess.
Cadillac, a unit of
General Motors, and the Dodge unit of
DaimlerChrysler unveiled new cars at the Geneva Motor Show on Tuesday that
they hope will lead a fresh push into the European market.
"Europe, Meet Cadillac and Dodge," The New York Times, March 2, 2005 ---
http://www.nytimes.com/2005/03/02/business/worldbusiness/02car.html
Who's the Randroid of this outfit?
Referring to the followers of Ayn Rand as
"Randroids" was probably not the nicest way to celebrate the 100th
anniversary of the author's birth. But it was positively kind by contrast with
the really strange honor being paid to her soon by her devotees. They are all
set to publish a volume that will document, at great length, how Rand coped with
a private, and fairly humiliating, part of her life.
Scott McLemee, "This, That and the Other Thing," Inside Higher Ed, March
3, 2005 ---
http://www.insidehighered.com/views/intellectual_affairs__9
Things are looking up
At The Cloud Appreciation Society we love clouds, we're
not ashamed to say it and we've had enough of people moaning about them.
Read our manifesto and see how we are fighting the banality of ‘blue-sky
thinking’. If you agree with what we stand for, then
join the society for free and receive your very own official membership
certificate and badge. March's
Cloud of the Month is the stratus – a cloud that can prove more of a
challenge to appreciate than any of the others.
The Cloud Appreciation Society ---
http://www.cloudappreciationsociety.org/
Rentals are much cheaper than during the past two
decades
A village which was submerged 35 years ago in northern
Portugual has reemerged due to the worst drought in recent decades ...
"Drought Causes Sunken Portuguese Village to Reemerge," Designerz, March 3, 2005
---
http://science.news.designerz.com/drought-causes-sunken-portuguese-village-to-reemerge.html?d20050303
Why does one case in the U.S. get so much more
publicity than this?
More than 60 alleged paedophiles go on trial in Angers,
France, in one of the country's biggest court cases.
"Child sex trial opens in France," BBC News, March 3, 2005 ---
http://news.bbc.co.uk/2/hi/europe/4313747.stm
Not a happy time for the academy.
University of Colorado President Elizabeth Hoffman
announced Monday that she is resigning amid a football recruiting scandal and a
national controversy over an activist professor who had compared victims of the
Sept. 11 attacks to a Nazi. Hoffman, who
has been president for five years, told the Board of Regents in a letter that
her resignation is effective June 30 or whenever the board names a successor.
SI.com, March 7, 2005 ---
http://sportsillustrated.cnn.com/2005/football/ncaa/03/07/cu.hoffman.ap/index.html?cnn=yes
Hoffman said last week that Churchill would not be
fired if the review turns up only inflammatory comments, not misconduct.
The furor over Churchill erupted in January after he
was invited to speak at Hamilton College in upstate New York. Campus officials
discovered an essay and follow-up book by Churchill in which he said the Sept.
11, 2001, attacks were a response to a history of American abuses abroad,
particularly against indigenous peoples.
Among other things, he said those killed in the trade
center were "little Eichmanns," a reference to Adolf Eichmann, who organized
Nazi plans to exterminate Jews. The college canceled Churchill's appearance,
citing death threats and concerns about security.
Jensen Comment: A review of Ward Churchill's speeches and writings is being
conducted to determine if the professor overstepped his boundaries of academic
freedom and whether that should be grounds for dismissal.
Purge of conservatives at Colorado University?
Mitchell taught at the Hallett Diversity Program for 24
straight semesters. That is, until he made the colossal error of actually
presenting a (gasp!) diverse opinion, quoting respected conservative black
intellectual Thomas Sowell in a discussion about affirmative action. Sitting 5
feet from a pink triangle that read "Hate-Free Zone," the progressive head of
the department berated Mitchell, calling him a racist. "That would have come as
a surprise to my black children," explains Mitchell, who has nine kids, as of
last count, two of them adopted African-Americans. People say liberals run the
university. I wish they did," Mitchell says. "Most liberals understand the need
for intellectual diversity. It's the radical left that kills you." So Churchill
may play the part, but Mitchell is the true dissenter at CU. Why did he stay
this long? "I stay to create enthusiasm and love for history," Mitchell says. "
And I am successful at that. I love the classroom, and I love my students."
Once, president Hoffman promised increased
intellectual diversity at CU - not a purge of conservatives. Another promise
broken.
David Harsanyi, "A CU prof deserving of sympathy," Denver Post,
March 7, 2005 ---
http://www.denverpost.com/Stories/0,1413,36~31908~2748616,00.html
Also see "Heretics in the Academy?: On campuses across the country,
conservative professors face a sea of hostility and ideological bias," by
Jennifer Jacobson, The Chronicle of Higher Education, pp. A8-A11.
Bob Jensen's threads on Ward Churchill are at
http://www.trinity.edu/rjensen/hypocrisyChurchill.htm
We need to make better choices.
And we like to know that our seafood choice is the best one we can make for a
healthy marine environment. Our oceans are in crisis. We need to make better
choices.
"Best Fish Guide," Forest & Bird,
http://www.forestandbird.org.nz/bestfishguide/index.asp
From the left side of the world: Rural people of the
south
This site provides access to 1800 of approximately
12,000 images from the Ulmann Photograph Collection. The images were scanned
prior to the development of local standards and information provided about each
image is sketchy and sometimes inaccurate. Staff from Special Collections and
University Archives are in the process of reviewing the images and correcting
information.
The Doris Ulmann Photograph Collection
http://libweb.uoregon.edu/catdept/digcol/ulmann/index.html
I like the way these films are categorized with a
short commentary accompanying each title. There is a religious bias in these
selections and in the commentaries.
"Colson's List of 50 Insightful Films," Prison Fellowship, March 2, 2005
---
http://www.pfm.org/Content/ContentGroups/BreakPoint/Columns/At_the_Movies/Other_dates1/Colson_s_List_of_50_Insightful_Films.htm
-
Films with a Christian Theme
-
Films with Moral Themes
-
Other Worldviews and Philosophies
-
Children's films with a strong Biblical worldview
Some interesting tips on day-to-day living
"Everyday Cheapskate," Jewish World Review ---
http://www.jewishworldreview.com/cols/cheapskate1.asp
"The 10 greatest rock'n'roll myths: From strange deaths to blood
transfusions and dubious fish-related practices, it's time to debunk the tallest
tales." by Graeme Thomson, Gurardian, February 20, 2005 ---
http://observer.guardian.co.uk/omm/story/0,13887,1415153,00.html
"The Climate
Debate: When Science Serves the State," by N. Joseph Potts, Ludwig von Mises
Institute, March 2, 2005 ---
http://www.mises.org/fullstory.aspx?Id=1755
United Nations Intergovernmental Panel on Climate Control (IPCC) sponsors
adoption of the
Kyoto
Protocol by most industrialized nations around the world, with estimated
costs of legally binding compliance estimated at over $150 billion per year.
The chief promotional artifact in the proceedings, the "hockey stick"
historical temperature chart of IPCC Third Scientific Assessment Chapter Lead
Author
Michael Mann , is shown to be based on a computer program that produces
hockey sticks from over 99 percent of ten thousand samples of random noise fed
to it. Stephen McIntyre, retired Canadian minerals consultant, demonstrates
numerous other defects and distortions in both the data and statistical
methodology, ultimately the subject of a front-page
article in the Wall Street Journal of February 14 and a follow-up
editorial on February 18.
Anyone sent to jail on that last one? That biggest one, by far? No.
Any charges? No, and none anticipated.
Lawsuits? None yet (possible reason: too many plaintiffs).
Any bankruptcies? Certainly not of the IPCC, nor of the tax-funded agencies
that paid for the research that culminated in the hockey stick.
What about the auditor? There is no auditor. No audits? No, except for the
self-funded undertaking of McIntyre and partner Ross McKitrick, and Dr. Mann
has cut them and apparently everyone else off from further information on the
mysterious process that "proved" an episode of global warming in the Twentieth
Century and pointed to human activity as the guilty party.
Congressional action? Well, the US Senate has declined to ratify the Kyoto
Protocol, but that’s about it.
Government investigation? Despite the fact that the US government funded
eleven out of the twelve "Funded Proposals" cited in Dr. Mann’s
curriculum vitae , it neither conducts audits of the results reported nor
requires that information be made available to others for conducting audits at
their own expense and initiative.
But the Kyoto Protocol remains in force and legally binding.
Government and science have found each other, and the spawn of this marriage
look set to destroy global wealth on a scale that will render the greatest of
history’s wars trivial by comparison. The ultimate outrage of all this is that
the people who are subjected to the ravages of the wrong-headed policies
promoted by these self-seekers are taxed to pay for the production of this
junk science to begin with.
Education's
purpose is to replace an empty mind with an open one.
Malcolm S. Forbes
All too often some of us probably clutter the open mind.
Now you should probably download Google's free Desktop Search for finding
documents within your own computer. The product has emerged from Beta testing
with more new features. But first read about security and then decide.
While the beta only indexed Microsoft Outlook
e-mail and Internet Explorer Web browsing history, the latest release also can
search e-mail from the Mozilla Thunderbird and Netscape clients and browsing
history from the Firefox and Netscape browsers, Google announced. To make more
desktop data searchable, the latest release adds indexing support for the full
text of PDFs to existing support for Microsoft Office formats. It also indexes
the metadata of video, images and audio, such as titles or artist information.
To make more desktop data searchable, the latest release adds indexing support
for the full text of PDFs to existing support for Microsoft Office formats. It
also indexes the metadata of video, images and audio, such as titles or artist
information. "With regard to users, we have tens of thousands of applications
and file types they want to search," said Nikhil Bhatla, a Google product
manager. "We've addressed the top requests and most popular applications, and
the best way to address [this] is by making desktop search available for
developers to write plug-ins
Matt Hicks, "Google Moves Desktop Search Out of Beta," eWeek, March 7,
2005 ---
http://www.eweek.com/article2/0,1759,1772568,00.asp
You can read more about security at
http://www.eweek.com/article2/0,1759,1735080,00.asp
I downloaded a free version of the program from
http://desktop.google.com/
Yahoo also has a desktop search program, but I don't think it is as
sophisticated as the new one from Google. You can read more about this at
http://www.trinity.edu/rjensen/searchh.htm
Did you know there is battle raging between neo-Malthusians and
Cornucopians?
Jared Diamond, a professor of geography at the
University of California, Los Angeles, tells the story of the Greenland Norse in
Collapse: How Societies Choose to Fail or Succeed, published earlier this
year, and asks, Why did the colonists raise cattle at all? His answer is
depressing: because in Scandinavia, cows were proof of wealth. Diamonds thesis,
traced from Easter Island to modern Los Angeles, is that environmental
strategies that work for a society at one time and place may be maladapted when
circumstances change. If people wont adopt new strategies, if their environment
is fragile and deteriorates, their society collapses. Diamond is famous for an
earlier book, Guns, Germs, and Steel: The Fate of Human Societies, which
won the Pulitzer Prize by arguing that European civilization triumphed through
geographical luck. Collapse has become a sensation, too. But at 575 pages,
Collapse is long, life is short, and most commentators have grappled not so much
with the book itself as with shadows of the book in particular, with a
simplistic summary Diamond published in the New York Times on New Years Day,
2005, titled "The Ends of the World as We Know Them." Environmentalists liked
the summary and, therefore, Collapse, because they thought it served the cause;
likening our own time to the periods preceding previous historical collapses,
Diamond declared, "We can't continue to deplete our own resources as well as
those of much of the rest of the world." Conservative commentators have been
uniformly hostile to what they think the book is about; they complain that
Diamond does not understand "the tragedy of the commons "that is, the phenomenon
whereby commonly shared resources are undervalued and, very frequently, ruined
by those who use them. In short, Collapse has been drafted into the battle
between neo-Malthusians, who believe our economic life is wickedly destructive
and must be constrained by governments, and Cornucopians, who think wealth can
grow indefinitely and who adore the unfettered power of markets.
Jason Pontin, "Lets Go Dutch, MIT's Technology Review, April 2005 ---
http://www.technologyreview.com/articles/05/04/issue/editor.asp?trk=nl
Differences among nations loom far larger than you might have imagined
Each country reveals its own preoccupations, usually
born out of its peculiar history and current circumstances. Leave it to the
Dutch, for example, to pour computer modeling resources into the management of
water and soilendeavors without which the Netherlands very existence would be
imperiled. The United States has measured the value of R&D projects largely by
their potential for adding to the nervous nations power to fight wars and defend
against terrorist attack. In Germany, home of the worlds first superhighways and
some of its most storied carmakers, its no surprise to see projects aimed at
making driving safer and smarter. In all, our reporters identified more than
two dozen emerging technologies or ideas about innovation as vital to the
futures of these seven countries. But even those innovations that most directly
address urgent regional needs prove to have application for the entire planet.
Herb Brody (editor), "What Matters Most Depends On Where You Are," MIT's
Technology Review, April 2005 ---
http://www.technologyreview.com/articles/05/04/issue/feature_gp.asp?trk=nl
One Theory on WMDs
Russia Moved Iraqi WMD Charles R. Smith Thursday, March
3, 2005 Moscow Moved Weapons to Syria and Lebanon According to a former top Bush
administration official, Russian special forces teams moved weapons of mass
destruction out of Iraq to Syria. "I am absolutely sure that Russian Spetsnatz
units moved WMD out of Iraq before the war," stated John Shaw, the former deputy
undersecretary for international technology security. Story Continues Below
According to Shaw, Russian units hid Saddam's arsenal inside Syria and in
Lebanon's Bekka valley. "While in Iraq I uncovered detailed information that
Spetsnatz units shredded records and moved all...
Newsmax, March 5, 2005 ---
http://www.newsmax.com/
Using Google for Identity Theft
Teams of hackers surfed the Web at Seattle University
yesterday, harvesting Social Security and credit card numbers like a farmer
cutting wheat. In less than an hour, they found millions of names, birth dates
and numbers -- cyberburglar tools for the crime of identity theft -- using just
one, familiar Internet search engine: Google. But these were the good guys --
members of a somewhat secretive organization of computer security pros, forensic
cybercops, prosecutors and federal agents called Agora. The group decided to
lift the curtain of secrecy for a day to sound a warning about the dangers of "Google...
Paul Shukovsky, " 'Good guys' show just how easy it is to steal ID Elite teams
of computer gurus hack into Google and find loads of credit card numbers and
sensitive information," Seattle Post Intelligencer, March 5, 2005 ---
http://seattlepi.nwsource.com/local/214663_googlehack05.html
The Selling of the Curriculum?
Through a family foundation, they created the John
William Pope Center for Higher Education Policy, a research organization that
regularly releases studies that criticize colleges in North Carolina for lack of
rigor, too much excitement over trendy disciplines and wasting taxpayer funds.
Pope publications mix serious analysis with a lot of mocking -- and individual
faculty members are frequently the target. So when faculty members at the
University of North Carolina at Chapel Hill heard that the Pope family was
talking to administrators about a multi-year grant to support study of Western
civilization, many were upset. Seventy-one faculty members signed an open letter
in The Daily Tar Heel complaining that the negotiations have been conducted
secretly, in a manner that is "disrespectful to the faculty," and urging that
the talks be suspended. Bernadette Gray-Little, dean of the College of Arts and
Sciences and the lead negotiator over the proposed gift, did not respond to a
request for an interview. But in a
letter to The Daily Tar Heel, she said that the proposed Pope grant has
received more public discussion and more faculty input than similar grants. And
she insisted that there were no unusual conditions attached.
Scott Jaschick, "The Selling of the Curriculum?" Inside Higher Ed, March
7, 2005 ---
http://www.insidehighered.com/insider/the_selling_of_the_curriculum
India truly realizes the importance of education
The Indira Ghandi National University in India now has 1 million students.
Twenty percent of all Indian students are in distance education programs, and
the Indian policy is to raise that to 40 percent. So this is a different kind of
phenomenon, far from the phenomenon of online learning. I don't mean innovation
isn't like that. People do things, and then they discover the consequences were
not exactly what they expected.
THE STANFORD UNIVERSITY CENTER FOR TEACHING AND LEARNING
http://ctl.stanford.edu (as forwarded to
me by Jagdish Gangolly)
When bashing the French, a few things should be kept in mind
France has a glorious military tradition and has troops
serving in the field in Afghanistan, the Balkans, Africa and Haiti. In Kosovo,
3,000 French soldiers are deployed side by side with 1,800 American soldiers; in
Afghanistan, our forces are also operating side by side as are our ships in the
Gulf of Oman and reconnaissance aircraft in Djibouti. Our intelligence services
and special forces also cooperate closely and appreciate working together.
France is a driving force in European integration and in strengthening European
defense. It is encouraging its partners to do more and better in assuming their
responsibilities for security issues in Europe and the world. It is making an
exceptional effort regarding its own defense budget.
Michele Alliot-Marie, "Let Us Be Partners," The Wall Street Journal,
March 8, 2005 ---
http://online.wsj.com/article/0,,SB111024396859873017,00.html?mod=opinion&ojcontent=otep
The word "f__king" doesn't mean anything. It's just
a figure of speech.
Martin Lawrence in the movie Bad Boys II ---
http://www.sonypictures.com/movies/badboys2/site/
Jensen Comment: Maybe so. It was used in nearly every third line of dialog in
this movie, is not in my desk dictionary, and turns me off whether I hear it in
a movie or when spoken by students and faculty (yes faculty) on campus. The Web
definitions include "sexual intercourse," "informal intensifier," and a
"colloquial intensifier." But it was used in Bad Boys II so often that
it didn't intensify anything. When used in a great movie called
Human Stain,
it was used very infrequently and did indeed intensify. The problem with youth
today is that they don't understand the role of linguistic intensifiers. I
blame a major part of this on Hollywood's failure to understand the same thing.
In general, it's use degrades the speaker and his/her audience.
This is probably overkill, but I do support the idea of being to
selectively order cable channels
While their announcement has outraged the
telecommunications industry and civil libertarians, most observers believe their
idea stands little chance of progressing through Congress. More intriguing,
however, is the possibility that the cable and satellite indecency news will
resurrect the issue of offering consumers a la carte options for selecting cable
channels. The brouhaha began on Tuesday, when Senator Ted Stevens, (R-Alaska),
head of the Senate Commerce, Science and Transportation Committee, declared that
he wanted to apply the same standards of decency that govern the content of
over-the-air television and radio to pay cable and satellite television. "I
think we have the same power to deal with cable as over-the-air" broadcasters,
he told the National Association of Broadcasters, according to several wire
reports. "There has to be some standard of decency." On Wednesday, Stevens got
support from the other side of the Hill when House Representative Joe Barton
(R-Texas), head of the House Energy and Commerce Committee agreed with him.
Eric Hellweg "Indecent Proposal," MIT's Technology Review, March 4, 2005
---
http://www.technologyreview.com/articles/05/03/wo/wo_hellweg030405.asp
One in five teens and adults in the U.S. have genital herpes.
Do our students know this? The rise in "hanging out" sometimes leads to oral
sex without intercourse.
Unsuspecting ways to get genital herpes and, by the way, experts say it will
never go away
Most people know that women can get genital herpes from
unprotected intercourse. After all, it affects one in five teens and adults. But
receiving oral sex is also a significant risk. Oral sex can transmit HSV-1, the
virus that causes cold sores, and can cause genital herpes. Research shows that
women who receive oral sex are nine times as likely to get genital herpes.
Women should be sure that their partners are not showing any sign of a cold
sore. Early signs include a small area of tingling or numbness in the lips --
even without a visible sore. This is a sign that the virus is active and can be
transmitted.
Brunilda Narario, "Genital Herpes From a Surprising Place," WebMDHealth,
March 5, 2005 ---
http://my.webmd.com/content/article/101/106359.htm?z=1728_00000_1000_td_01
She says the undergraduates are eager for sex but don't know
much about it
She went on to get a master's degree in human sexuality
education from the University of Pennsylvania, and a PhD in sexology from Curtin
University of Technology in Western Australia, with a thesis on women's first
experiences of sexual intercourse and the implications of this for sex
education. She later became head of Curtin's sexology program, where she
launched a master of forensic sexology, and although she's now moved to Bond,
she still supervises some postgraduate students there. In her books and on her
website, she habitually refers to herself as Dr Gabrielle, or Gabrielle
Morrissey PhD, presumably to reassure readers that, despite all the references
to peckers and boobs, she is a serious academic. Still, she has had her share
of awkward moments. In the acknowledgments in Urge, she writes: "Dad, please
skip over the oral sex chapter, please, please." "I don't think he did," she
sighs over the phone from her home in Brunswick Heads, near Byron Bay
"Under Covers," Sydney Morning Herald, March 5, 2005 ---
http://www.smh.com.au/text/articles/2005/03/03/1109700593110.html
All health plans should at least be as good as Medicare on preventative
maintenance
The new year brought changes in Medicare benefits: a
one-time "Welcome to Medicare" physical exam, cardiovascular screening, and
diabetes screening -- all part of a new emphasis on prevention and early
detection, all designed to provide seniors with better care and a higher quality
of life. In addition, there will be more changes in drug coverage. How will this
affect you? Medicare & Medicaid Services Administrator Mark B. McClellan, MD,
PhD, joined us on Jan. 25 to answer your questions about Medicare coverage
"Medicare Update 2005," WebMDHealth, January 25, 2005 ---
http://my.webmd.com/content/chat_transcripts/1/105396.htm?z=1728_00000_0007_qp_02
Hitler's A-Bomb: So close and yet (fortunately) so far
Adolf Hitler had the atom bomb first but it was too
primitive and ungainly for aerial deployment, says a new book that indicates the
race to split the atom was much closer than is believed. Nazi scientists
carried out tests of what would now be called a dirty nuclear device in the
waning days of World War II, writes Rainer Karlsch, a German historian, in his
book Hitler's Bomb, to be be published this month. Concentration camp inmates
were used as human guinea pigs and "several hundred" died in the tests,
conducted on the Baltic Sea island of Rugen and at an inland test in wooded hill
country about 100 kilometres south of Berlin in 1944 and early 1945.
Ernest Gill, "Hitler won atomic bomb race, but couldn't drop it," Sydney
Morning Herald, March 5, 2005 ---
http://www.smh.com.au/text/articles/2005/03/04/1109700677446.html
Academic Leadership Awards
The Carnegie Corporation of New York on Friday
awarded the first three of its new $500,000 "Academic Leadership Awards" to
the presidents of Carnegie Mellon (Jared L. Cohon) and Northwestern
Universities (Henry S. Bienen) and the University of Chicago (Don M. Randel).The
awards, designed to honor campus chief executives who have "demonstrated an
abiding commitment to liberal arts and who have initiated and supported
curricular innovations," go to the presidents "for their academic priorities."
"Grants for Presidents," Inside Higher Ed, March 7, 2005 ---
http://www.insidehighered.com/insider/quick_takes_grants_for_presidents_frat_charges_pay_cutback
Most of the "luxuries" are on the not-for-profit campuses
For-profit institutions also try to maximize their
revenue. But in addition to maximizing revenue, for-profit schools want to
minimize their expenses. That's why they don't have any football stadiums or
massage therapists. Simply, maximum revenue and minimum expenses yield maximum
profit. That does not mean, as their critics suggest, that they will
necessarily exploit their students. The only way for-profit schools can maximize
their revenue, after all, is by bringing in as many students as possible. They
can't, therefore, reduce expenses to any point below which they can provide the
education students are willing to pay for. Kirp's discussion of DeVry helps
confirm this. "Instruction is more intense than in most community colleges and
regional universities ... and it is often better as well." Moreover, "graduates
do get hired ... DeVry's proudest boast has been that within six months of
graduation, 95 percent of graduates are working, and not behind the McDonald's
counter but at jobs with a future." Are for-profit schools perfect? Hardly. As
their critics regularly point out, for-profit education's past is checkered by
scams and frauds. And it still has troublemakers. In January, "60 Minutes" aired
an expose on questionable practices at Career Education Corporation, which runs
82 for-profit campuses. But general hostility to for-profit education, its past,
and the ongoing scrutiny it receives as a result force for-profit schools to
police themselves.
Neal McCluskey, "Don’t Blame the Market," Inside Higher Ed, March 7, 2005
---
http://www.insidehighered.com/views/don_t_blame_the_market
Some major IT acronymns: How
many can you define? --- Webopedia ---
http://www.webopedia.com/
- OEM
- RAID
- VPN
- OSI Model
- phishing
- Telnet
- MAC address
- API
- VGA
- DVI
- ODBC
- DNS
- router
- ASIC
- Token Ring
More important, which newer ones are left out like RFT or RFIT or RFID ---
http://availabletechnologies.pnl.gov/securityelectronics/rftags.stm
Will Viagra's RFID tags
will play Bolero and old Sinatra recordings?
In an
effort to combat drug counterfeiting and protect patients, Pfizer has announced
a new initiative to use radio frequency identification (RFID) tags that will
enable wholesalers and pharmacies to authenticate all Viagra sold in the United
States.
"Viagra tablets will soon have small radio frequency tags," News-Medical-Net ---
http://www.news-medical.net/?id=6324
Jensen Comment: I was thinking of an antenna joke and decided against it.
PhD: Purchased higher Degree
The dean of administration at the College of the Ozarks
has resigned, a year after he was enmeshed in a controversy involving the
legitimacy of his doctoral degree, the News-Leader of Springfield, Mo., reported
Thursday. College officials declined to comment on the resignation of Larry
Cockrum, the newspaper reported.
Doug Lederman, Inside Higher Ed, March 4, 2005 ---
http://www.insidehighered.com/insider/quick_takes_epa_fine_a_dean_resigns
Bob Jensen's threads on diploma mills are at
http://www.trinity.edu/rjensen/FraudReporting.htm#DiplomaMill
Hush up Bill! She's first got to worry about being re-elected to the U.
S. Senate from a blue state
Maybe it's natural for Bill Clinton to be bragging on
his wife's chances to become the next president, but some of his friends wish
that he'd just shut up.They say that Bubba's cheering is distracting from
Hillary's efforts to show that she isn't an old style liberal.'It's
counterproductive,' says one insider, 'at a time when she's quietly building a
voting record that is closer to Sen. John McCain than Ted Kennedy.'
"Shushing Bubba," U.S. News and World Report, March 14, 2005 ---
http://www.usnews.com/usnews/issue/050314/whispers/14whisplead_2.htm
Mohamed Khodr's Opinion of the Mayor of London
No politician has ever had the courage to pen such a
column although many have privately expressed your sentiments. Those, like me,
who do write on such matters are excluded from the mainstream press and thus
toil in the world of virtual reality, the internet. The world agrees with you
but is too cowardly to speak out. I wholeheartedly pray that your courage has
opened the door for others to overcome their "Anti-Semitic" fears and do justice
to the suffering of the Palestinians, victims of the Sykes-Picot, Balfour
Declaration, the Cold War, Zionism, the Holocaust, and the surrender of American
foreign policy to the "elite Zionist experts" in Washington D.C. who understand
the "Arab/Muslim" mind given America's naiveté and ignorance..
Mohamed Khodr, "To Ken Livingstone, With Gratitude, Love and Admiration,"
Aljazeerah, March 5, 2005 ---
http://snipurl.com/aljazeerahMarch5
Jensen Comment: Ken Livingstone is the Mayor of London ---
http://www.london.gov.uk/mayor/mayorbiog.jsp
Take that Larry Summers: IT's a woman's world
Women seem to be giving men a run for their money in
every profession today. This holds true even in the technology sector, which was
till recently dominated by the male fraternity. In fact, technology seems to be
creating new-age careers for women in sectors ranging from the number-crunching
banking to the research-oriented medicine. Says Jayanthi Sivaswami, associate
professor, International Institute of Information Technology (Hyderabad),
"Around 31 per cent of the workforce in India today constitutes of women, of
which 19 per cent are in the IT sector." Sivaswami was speaking at a panel
discussion on 'Technology enables new-age careers...
"IT's a woman's world," Rediff, March 5, 2005 ---
http://us.rediff.com/money/2005/mar/05woman.htm
Lessons From the Edge
Much of traditional academe doesn't know what to
make of for-profit higher education. Is it to be emulated or feared? Gary A.
Berg, dean of extended education at California State University Channel Islands,
studied the sector -- and received extensive access to University of Phoenix
administrators and faculty members. The result is Lessons From the Edge:
For-Profit and Nontraditional Higher Education in America, recently published as
part of the American Council on Education/Praeger Series on Higher Education.
The article contains Berg's answers to some questions about his research and his
book:
Scott Jaschik, "Lessons From the Edge," Inside Higher Ed, March 4, 2005
---
http://www.insidehighered.com/insider/lessons_from_the_edge
How have for-profit higher education changed traditional universities?
I think they have probably accelerated a general trend, rather than changed the
course in American higher education at this point. Central components of the
for-profit model such as increased use of part-time faculty, intensive formats,
standardization, distributed and distance learning formats, an emphasis on
assessment are all increasingly used in traditional universities. For-profits
have come to symbolize the great transformation that is occurring in higher
education, but are not the sole cause.
Gary A. Berg, "Lessons From the Edge," Inside Higher Ed, March 4, 2005
---
http://www.insidehighered.com/insider/lessons_from_the_edge
Distance education is easier to assess
Yet assessing quality may be easier with an electronic course, Patrick said,
because so many measures can be tracked, including the number of times students
and teacher interact. That's not as transparent in a traditional class, she
said, because "the door is shut."
"Distance learning becoming part of school life," CNN, March 3, 2005 ---
http://www.cnn.com/2005/EDUCATION/03/03/distance.education.ap/index.html
Bob Jensen's threads on assessment are at
http://www.trinity.edu/rjensen/assess.htm
Bob Jensen's threads on distance education are at
http://www.trinity.edu/rjensen/crossborder.htm
It's too darn easy to alter the
letter F into B? With artistic talent, why Photo Shop it into an A?
. . .many mentioned the ease of altering report cards
and transcripts using desktop publishing software like Adobe Photoshop, which
allows students to capture a school's seal off its Web site and paste it into a
file to create an official-looking document. One administrator told of a
student who was caught forging his report card when the nearby Kinko's called
the school to report that a student had left a copy of his grades on the copier.
One principal said he had heard of students forging transcripts with
generic-embossed seals to avoid paying for official transcripts.
Jensen Harrumph: Students are really taking a chance on getting
caught for artfully doctoring the transcript of their dreams. In fact that's
really stupid. Why not order a professionally generated transcript from
Back Alley Press? ---
http://www.backalleypress.com/
Bob Jensen's threads on diploma mill
frauds are at
http://www.trinity.edu/rjensen/FraudReporting.htm#DiplomaMill
Q: If I am considering buying a new laptop, should I wait until the new
802.11n Wi-Fi wireless networking standard is available? If I purchase a laptop
now, should I buy one with an external wireless card so I can easily upgrade to
the new standard later?
A: If you need a new laptop now, I wouldn't wait,
even though the new "n" flavor of Wi-Fi promises to be faster and to have much
better range than the current "a," "b," and "g" versions. I have no idea when
the "n" standard will make it into the marketplace, since it's still in the
hands of a standards committee, and such bodies tend to move slowly. I would
also note that the new standard is almost certain to be backwards-compatible
with the current wireless chips sold as internal equipment on today's laptops.
So it isn't as if a laptop purchased now with built-in Wi-Fi will be useless
when the new standard emerges. In fact, based on my testing of the so-called
pre-N Wi-Fi gear made by Belkin, some of the new standard's range and speed
improvements will still be attainable, even with older chips in your laptop.
Walter Mossberg, "Waiting for Wireless," The Wall Street Journal, March
3, 2005, Page B4 ---
http://online.wsj.com/article/0,,SB110980770284968899,00.html?mod=todays_us_marketplace
Q: I am ready to leave Hotmail and switch to another free mail service. I
tried to set up a Google "Gmail" account, but was unable to find any sign-up
page on their Web site. What are my best choices for setting up a new free
e-mail account?
A: At the moment, Gmail is available only to new
users who have been invited to join by existing members. That's why you couldn't
simply sign up. The main attraction of Gmail is that it offers one gigabyte of
mail storage free, a huge amount for an online e-mail service. So, if you know
somebody who is a Gmail user, you might try to get invited. Overall, I prefer
Yahoo Mail among the free online competitors. I find it's easy to navigate,
reliable, and packed with useful features. And, for a modest $20 a year, you can
boost your Yahoo mail storage to two gigabytes from the standard 250 megabytes,
and get some other added services as well.
Walter Mossberg, "Q&A," The Wall Street Journal, March 3, 2005,
Page B4 ---
http://online.wsj.com/article/0,,SB110980770284968899,00.html?mod=todays_us_marketplace
Say what? NHL games might become intramural sports matches if purchased
by a bottom feeder
Wall Street buyout firm part of joint proposal made to
owners. National Hockey League commissioner Gary Bettman reportedly invited Bain
Capital Partners LLC and Game Plan International to make a 30-minute
presentation to league owners on Tuesday. TORONTO - A Wall Street buyout firm
and a sports advisory company reportedly made a joint proposal to buy all 30 NHL
teams for as much as $3.5 billion. Bain Capital Partners LLC and Game Plan
International, both based in Boston, made the offer in a 30-minute presentation
to NHL owners on Tuesday in New York, sources told the Toronto Star and The...
"Report: $3.5 billion offer to buy all NHL teams," MSNBC, March 3, 2005
---
http://www.msnbc.msn.com/id/7073831/
Drug Warning: Note that Asian-Americans are specifically targeted
The cholesterol drug Crestor is being relabeled to add a warning that starter
doses should be reduced in Asian-Americans and some other patients.
"Warning for Cholesterol Drug," The Wall Street Journal, March 3, 2005,
Page D4 ---
http://online.wsj.com/article/0,,SB110979071346968482,00.html?mod=todays_us_personal_journal
Q: What are the most commonly cited cases in law?
A: See Yale Law School's "The Curiae Project" at
http://curiae.law.yale.edu/
If you’re
looking for an extreme example of bad ethics in your courses, this is it!
But some of the latest in hunting tech pushes the
ethical envelope, and some states are outlawing high-tech innovations that game
managers feel give hunters an undue advantage. A
San Antonio entrepreneur recently created an uproar
with a Web site,
www.live-shot.com , that aims to allow hunters to shoot exotic game animals
or feral pigs on his private hunting ranch by remote control, with the click of
a mouse, from anywhere in the world. "The idea of sitting at a computer screen
playing a video game and activating a remote controlled firearm to shoot an
animal is not hunting," said Kirby Brown, executive director of the Texas
Wildlife Association, a hunters' group. "It's off the ethical charts."
Jeff Bernard, "In Hunting, Tech Pushes Envelope of What's Ethical,"
MIT's Technology Review, March 4, 2005 ---
http://www.technologyreview.com/articles/05/03/ap/ap_2030405.asp?trk=nl
Jensen Comment: This is even worse than hunting wolves or other wild game with
aircraft. Not only is it not sporting, it can become a tool for terrorists.
Lee Harvey Oswald could've been in Siberia on November 22, 1963 if this
technology was available. I realize that the Air Force can do this now, but I
don't think there's a USAF Live-Shot Web site. The popular “smoking gun” in
court just went up in smoke.
Accounting usually gets them in the end
Remember the SCO mouse that roared when suing IBM and Linux
SCO says it missed the filing deadline over issues
relating to the accounting of its common stock and equity compensation plan. As
a result of adjustments to its accounting, SCO will be restating its earnings
for the first three quarters of 2004, BusinessWeek has learned. While the
restatements won't change its net loss or cash balance for that year, they are
likely to reduce its cash position by $500,000 or more in fiscal year 2005, says
an insider. . . What once looked like a mortal threat to Linux appears to be
fading. As a result, the suit has become a nonfactor in corporate buying
decisions. "I can't imagine how this will go anywhere," says Alex Dietz, chief
information officer at Acxiom, a Little Rock consumer-data-analysis company that
uses Linux.
"A Linux Nemesis on the Rocks SCO's lawsuit is floundering -- and now the
struggling software company faces regulators' scrutiny and questions about its
management," Business Week, March 3, 2005 ---
http://www.businessweek.com/technology/content/mar2005/tc2005033_4497_tc119.htm
Jensen Comments
The independent auditor for SCO is KPMG.
A SCO Versus IBM Website is at
http://sco.iwethey.org/
The Anti-PHishing Working Group is an
international association dedicated to the elimination of fraud and identity
theft on the internet from phishing, pharming and spoofing. Their site contains
up-to-date reports on the extent of such activities.Anti-Phishing
Working Group
From Gerald Trite's Blog, March 3, 2005 ---
http://www.zorba.ca/blog.html
Bob Jensen's threads on phishing are at
http://www.trinity.edu/rjensen/ecommerce/000start.htm#Phishing
Social Security is a lot more than FDR envisioned when he started a
national pension plan
But the program has a multitude of other objectives,
moving money every which way. An essential reason for the decline in old-age
poverty, for example, is that older generations - which paid lower payroll taxes
- have received transfers from younger generations, who have paid higher taxes
to get the same or even lower levels of benefits. Social Security aims to
protect women who stay out of the work force to raise children, offering spousal
and survivor benefits that depend on the earnings of the working spouse. And the
program's disability insurance favors workers in tougher jobs, mainly at the
lower end of the income spectrum. Social Security's income redistribution
includes some unintended quirks. Survivor benefits are regressive, favoring
people whose spouses were high earners. And the nation's changing demographics
have created a patchwork of winners and losers that, to some extent, has
overridden the system's original purpose of favoring the poor. That's because
Social Security is more generous to people who have more time to collect
benefits, like women, who are expected to live three years longer than men, on
average, after retirement, and whites, who, after reaching 65, are expected to
live a year and a half longer than blacks.
Eduardo Porter, "Who Wins in a New Social Security?" The New York Times,
March 6, 2005 ---
http://www.nytimes.com/2005/03/06/business/yourmoney/06view.html
When you gotta go, you don't gotta go
Do we not? The trouble is, if we have, why do I not
remember a student ever leaving the classroom to go to the bathroom during my
own college years? (Much less sleeping or eating.) Once during graduate school I
remember a student was asked to leave, because he would not stop talking to the
person next to him. He left immediately. The rest of us could not have been more
shocked than if he had got up suddenly and squatted in front of his chair.
During my more than 30 subsequent years as a professor I remember a few students
pleading bodily necessity in asking permission to leave. The first was a male,
who basked in his boldness after he asked. I told him, "sure, you can go, but
don't come back." Then it seemed he didn't have to go so urgently after all. I
insisted, saying that I couldn't live with either his urethra or his anus on my
conscience. The rest of the class laughed. Those were the days.
Terry Caesar, "Purely Academic Going to the Bathroom," Inside Higher Ed,
March 4, 2005 ---
http://www.insidehighered.com/views/purely_academic
Lifestyle Changes: What hotel rooms do you like best (in terms of rooms
rather than settings)?
In fact, the room isn't in a hotel at all. It's one of
seven test guest rooms that sit unused, night after night, in the depths of
Marriott International Inc.'s headquarters. The rooms are part of Marriott's
effort to capitalize on a decade of research and tens of millions of dollars to
figure out what guests want. They also illustrate how hotel operators are
catering to a new generation of travelers whose trips are equal parts work and
play, and who more than ever yearn for the comforts of home even when they're
thousands of miles away.
"Building a better hotel room," Boston Globe, March 6, 2005 ---
http://www.boston.com/business/articles/2005/03/06/building_a_better_hotel_room/
Jensen Comment: I thought the whole point was to make hotel rooms dreary and
uncomfortable so that guests spend more time in the stores, bars, restaurants,
and conference meetings where it's easier to sleep.
Why not just model the rooms after the world's most expensive hotel (or so
we're told by Barb Hessel) ---
http://www.dagbladet.no/
One woman's take on Martha before she served her time
The characters in your trial (who rather acted as
character witnesses) may seem uniquely rotten, as if Lady Luck heaped all the
putrid apples in your aproned lap. Not true. Open any psychology textbook;
you'll find profiles of each and every one, which means you'll meet them all
again. Repeatedly. As long, that is, as you're You (a Forbes-listed,
high-society kitchen Picasso) and people are People (parasitic ass-kissers
hoping your ilk will choke to death on a drumstick). Forgive me—my cynicism is
indelicate. But judging from your megalomaniac fibbing (yes, yes, I know, the
investigation was petty in light of the mighty Martha brand name), and genuine
horror at the Lilliputians who dared rat you out (the only one-woman
conglomerate in human history!)...well, your judgment seems a little off.
Elizabeth Koch, "Martha On the Inside: Jailhouse advice for the domestic diva,"
ReasonOnLine, October 7, 2004 ---
http://www.reason.com/martha/oct7.shtml
Now schools need to hire guards for the bathrooms as well as
teachers
A couple filed a lawsuit Friday against the Anchorage
School District, saying their 6-year-old son was sexually assaulted by a
classmate after the boys were left unattended in a school bathroom. The lawsuit
seeks damages and changes to district policies regarding how students and staff
are trained to handle sexual assaults and how students are monitored. The
lawsuit doesn't name the family or the child's school, to protect
confidentiality, said attorney Dennis Maloney, who is representing the
plaintiffs. The district has 40 days to respond to the lawsuit. "I will not
dispute the fact the incident occurred," Superintendent...
"Parents sue school district over rape of 6-year-old," Juneau Empire, March 6,
2005 ---
http://www.juneauempire.com/stories/030605/sta_20050306008.shtml
Modern Day Bullies
Cyberbullies, mostly ages 9 to 14, are using the
anonymity of the Web to mete out pain without witnessing the consequences. The
problem — aggravated by widespread use of wireless devices such as cellphones
and BlackBerrys — is especially prevalent in affluent suburbs, where high-speed
Internet use is high and kids are technically adept, says Parry Aftab, executive
director of WiredSafety.org, an online safety group. “Some kids can't wait to
get home so they can continue taunting,” says Aftab, who is also an Internet
lawyer. “Maybe we need to protect kids from one another online as much as we
shield them from dangerous adults.” Often, the social cruelties escape the
notice of schools, which focus on problems on campus, and of parents, who are
unaware of what their kids are doing online.
Jon Swartz, "Schoolyard bullies get nastier online: Hurtful messages can hit
kids anytime, anywhere," USA Today, March 7, 2005 ---
http://www.usatoday.com/printedition/news/20050307/1a_cover07.art.htm
Small Business Helpers from Smart Stops on the Web, Journal
of Accountancy, March 2005 ---
http://www.aicpa.org/pubs/jofa/mar2005/news_web.htm
Food for Thought
www.businessownersideacafe.com
“A fun approach to serious business” is the tag line here,
with lively graphics and laid-back narrative that punch up its material. The
Small Biz Tax Center helps clarify IRS tax and recordkeeping requirements and
gives tips for start-up business owners. The CyberSchmooz “lobby” opens onto
message forums on e-commerce, marketing and working at home. The Your Biz
section includes a “fridge” full of business forms, e-mail protocols,
marketing tips and even yoga instructions.
Small Company, Big Resources
www.allbusiness.com
From forms for consulting and confidentiality agreements to
advice on sales and marketing or using the Internet, this Web stop offers
guidance to CPAs who advise start-ups and small businesses. The Business Plans
section has articles such as “Common Business Plan Mistakes for Startup
Companies,” while the Small Business Advice section provides tax basics. Users
also can tap into an FAQ section or a business glossary or sign up for a free
e-newsletter.
A Dear Abby for Small Business
www.score.org
Since first listed here in June 2003, this site has added
resources to its Business Toolbox section including a gallery of downloadable
templates for bank loan applications, business plans and sales forecasts, as
well as expanded links to such small business topics as finance, franchising
and international trade. The Learning Center has a list of tips for business
planning, marketing, public relations and office management.
Bob Jensen's small business helpers are at
http://www.trinity.edu/rjensen/bookbob1.htm#SmallBusiness
I wasn't sure if I was reading about a resort or
a diversity-optimized college campus on the Oregon coast
FOR REASONS OF HEALTH & SAFETY OCEAN HAVEN CANNOT
ACCOMMODATE SMOKERS, PETS, FOLKS TRAVELING IN A HUMMER, OR FOLKS WHO VOTED FOR
BUSH & HIS NATURE DESTRUCTIVE POLICIES
Ocean Haven on the Oregon Coast ---
http://oceanhaven.com/htmls/practices.html
And for those living guest, I think you have to take your own sewage back home
where it belongs.
Jokes from night TV ---
http://www.newsmax.com/liners.shtml
Jay Leno says "Hillary would make a good president but not a good intern."
These are sources you might look at when tracking the resignation of the
president of Colorado University and the saga of Ward Churchill and his little
eichmans:
CBS4 Denver ---
http://news4colorado.com/cuscandal
She says it's the budget rather than her bad boys
The president of the University of Colorado, Elizabeth Hoffman, resigned Monday
after struggling with a football recruiting scandal and a firestorm over a
professor who likened some Sept. 11 victims to Nazis . . . She said in a
telephone interview that the Churchill case was not the impetus for her
resignation, but that it had become a distraction that was hindering her ability
to address what she called a more serious problem, a budget crisis at the
university over a shortage of state financing. "It was becoming increasingly
difficult to be strong on the issues that were important in the long run because
it kept coming back to questions about me," Dr. Hoffman said, "so I decided I
had to take my future, my job, off the table." Dr. Hoffman, 58, was named the
university's president on Sept. 1, 2000, after serving as provost at the
University of Illinois at Chicago.
Kirk Johnson, "University President Resigns at Colorado Amid Turmoil," The
New York Times, March 8, 2005 ---
http://www.nytimes.com/2005/03/08/national/08colorado.html
Bob Jensen's threads on Ward Churchill ---
http://www.trinity.edu/rjensen/hypocrisyChurchill.htm
Egads! Is this what you call filling in where schools fail?
The College Board will administer its revised
college-admissions test to thousands of high-school juniors for the first time
on Saturday, and the test has generated a bonanza of new study aids. "The new
SAT has led to a flurry of new products because all publishers are starting new
-- there's a new thing to compete over," says Justin Kestler, a founder of
SparkNotes LLC, a division of
Borders Group Inc. Adds Jon Zeitlin, manager of college-prep programs for
Kaplan Inc., a unit of
Washington Post Co.: "We've been on a product-creation jag for months."
Test-prep giant
Princeton Review Inc., which isn't affiliated with Princeton University, has
developed software that delivers test questions, including critical-reading
passages, to cellphone screens -- then grades the answers and sends the results
home to Mom and Dad. Its chief competitor Kaplan has software for a cellphone or
a Palm device: Order up easy, medium or hard questions in reading, writing or
math.
Texas Instruments Inc. is programming all of its latest graphing calculators
with SAT math and vocabulary drills. And SparkNotes has its test-prep eye on the
ubiquitous iPod. "We're trying to figure out how to do it in audio," says Mr.
Kestler. "It's the next big killer application."
June Kronholz, "To Tackle New SAT, Perhaps You Need A New Study Device:
Test-Prep CDs, Puzzles, Cellphone Software Hit A June Market of Nonreaders,"
The Wall Street Journal, March 8. 2005, Page A1 ---
http://online.wsj.com/article/0,,SB111024562510773081,00.html?mod=todays_us_page_one
Jensen Comment
College admission tests serve many purposes, not the least of which is to guide
students into what to learn in school. One of the failings of our schools and
the college tests is the failure to test and motivate students toward
understanding personal finance. Why is this important? Personal finances are a
major cause of suicide and divorce. Sometimes I don't think teachers really are
concerned about the tragedies of life that affect nearly all people later in
life from the very poor to the very rich. Our graduates mess of their lives
because they mess up their personal finances and/or allow themselves to be
screwed by credit card companies, finance companies, brokers, financial
advisors, and banks (yes and banks).
Please read the following:
"Survey: Students Not Taught Basic Finance," Ben Feller, SmartPros, March
7, 2005 ---
http://accounting.smartpros.com/x47289.xml
And then look at the following:
March 4, 2005 message from a staff member at Trinity University

Think of the many people whose lives might be saved and whose marriages
might be more successful if they understood the basics of who to keep out of
digging themselves into financial holes and how to stop digging once they're in
those holes.
Bob Jensen's threads on the dirty tricks of credit card companies are at
http://www.trinity.edu/rjensen/FraudReporting.htm#FICO
Free credit report offers seem to flood the Internet these days.
Most companies claiming to give you a free credit report are really looking to
sell you something in the long run, such as a credit monitoring service or
identity-fraud protection.
So, stop surfing around online for a
free credit report, most of the offers you will find are not really free. If you
do not qualify for a free credit report, you are still better going straight to
the actual credit bureaus and just paying the $8 that a credit report costs.
Knowing what your credit file says about you is priceless.
"Free Credit Report Offers... Are They Really Free? - Consumer Alert,"
AccountingWeb, March 3, 2005 ---
http://www.accountingweb.com/item/100593
Free credit report offers seem to flood the Internet
these days. Most companies claiming to give you a free credit report are
really looking to sell you something in the long run, such as a credit
monitoring service or identity-fraud protection. Once you purchase the
service, you will be given a copy of your credit report, usually from just one
of the major credit bureaus. Since there are three major credit reporting
agencies (Experian, Transunion, and Equifax), you will not see the complete
picture if you do not receive a report from each one.
Other websites that sell credit reports are resellers
for the real credit bureaus and exist to make a profit. Some of these websites
are very useful if you intend to pay, and are very convenient as a centralized
place to obtain a 3-in-1 report with a personalized account that you can
return to at anytime to order more reports; however, you will not receive
anything for free.
Under the Fair Credit Reporting Act of 1970 you are
entitled to a free credit report if your application for credit, insurance or
employment is denied because of information provided by a credit reporting
agency (CRA). The company that you applied to must provide you with a denial
notice which will contain the name, address, and phone number of the CRA that
was used. You must request your report within 60 days of receiving the notice
of the action. In addition, you are entitled to one free report a year if (1)
you are unemployed and plan to look for a job within 60 days, (2) you are on
welfare, or (3) your report is inaccurate because of fraud.
Residents of Colorado, Georgia, Maine, Massachusetts,
Maryland, New Jersey and Vermont already have a right to one free report per
bureau each year because of laws enacted by those states. However, a new
Federal provision enacted in 2003, grants access to free credit reports to all
consumers in every state.
Free Annual Credit Reports Available to Everyone
According to the Fair and Accurate Credit
Transactions Act of 2003, every consumer is entitled to one free credit report
each year. The final rule on this Act issued by the Federal Trade Commission
in June 2004, provides for a centralized source from which consumers can
obtain their credit reports from each of the three credit bureaus.
The centralized source is becoming available in
cumulative stages, over a period of nine months, rolling-out from west. The
rollout began in December 2004 and will be complete by September 1, 2005.
Western states (Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana,
Nevada, New Mexico, Oregon, Utah, Washington, and Wyoming) became eligible on
December 1, 2004;
Midwestern states (Illinois, Indiana, Iowa, Kansas,
Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and
Wisconsin) will become eligible on March 1, 2005; Southern states (Alabama,
Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, Oklahoma, South
Carolina, Tennessee, and Texas ) will become eligible on June 1, 2005; Eastern
states (Connecticut, Delaware, District of Columbia, Maine, Maryland,
Massachusetts, New Hampshire, New Jersey, New York, North Carolina,
Pennsylvania, Rhode Island, Vermont, Virginia, and West Virginia), Puerto
Rico, and all U.S. territories will become eligible on September 1, 2005.
So, stop surfing around online for a free credit
report, most of the offers you will find are not really free. If you do not
qualify for a free credit report, you are still better going straight to the
actual credit bureaus and just paying the $8 that a credit report costs.
Knowing what your credit file says about you is priceless.
You can read more about free credit reports at
http://www.ftc.gov/bcp/conline/edcams/credit/ycr_free_reports.htm
I agree with the
habit of spending within one’s means. But there still is a question of stupid
spending within one’s means. For example, should families really spend extra
for an entirely new car even if they can make the payments? And do they
understand the car’s financing ---
http://www.trinity.edu/rjensen/FraudDealers.htm
It is dangerous to be right when the established authorities are wrong
Voltaire
My Snow Bird
After 18 inches of new snow on March 8 and enormous winds, the drifts in our
driveway were ten feet or higher. Ed Clough had to plow three times each day to
keep up with it. The snow subsided on March 9, but Erika was in a lonely
whiteout due to the winds on I-93 when she went down to Manchester on March 9.
She took off on March 10 and should be in San Antonio by noon. Here's a March
9, 2005 weather summary from Mt. Washington where most of the snow blows off the
summit ---
http://www.mountwashington.org/weather/today.html
|
| |
Conditions at 5:00 a.m. on March 9 |
|
|
| |
Weather: Light snow
with blowing snow and freezing fog |
|
| |
Temperature: -20° |
Visibility: 25 feet |
|
| |
Wind Chill Index: -60°F |
Relative Humidity: 100% |
|
| |
Wind: Northwest at 94 gusting to
105 MPH |
Station Pressure: 22.57" and
rising |
|
| |
Ground Conditions:
13" of snow and ice |
|
|
Since he lives in a humble home (without running water when he was a
child) within walking distance of our retirement home, I just had to brag about
Bode
Winning races or crashing through fences, charming the
hordes of kids in Europe who adore him or peevishly dismissing the ski
journalists who annoy him, astounding veteran skiers with his otherworldly
skills or infuriating his coaches with his bullheadedness, Bode Miller has
arrived on top of the skiing world.
David Leon Moore, "Brash American poised to win skiing crown: Bode Miller's
style wows fans, puts elusive title in reach," USA Today, March 9, 2005
Page 1A ---
http://www.usatoday.com/printedition/news/20050309/1a_cover09.art.htm
Also see "Breaking down the points race," USA Today, March 9, 2005 ---
http://www.usatoday.com/printedition/news/20050309/pointsbox.art.htm
American Bode Miller and Austrian Benjamin Raich are battling to win the
men's World Cup overall title. Entering Thursday's downhill, Miller has a
52-point lead over his archrival:
| Bode Miller |
Place |
Points |
| Overall |
1st |
1,348 |
| Downhill |
2nd |
538 |
| Slalom |
19th |
100 |
| Giant slalom |
3rd |
340 |
| Super-G |
2nd |
370 |
| Benjamin Raich |
| Overall |
2nd |
1,296 |
| Downhill |
28th |
93 |
| Slalom |
1st |
502 |
| Giant slalom |
1st |
363 |
| Super-G |
5th |
238 |
Forget Ward Churchill: An A- term paper topic can get you kicked out of
graduate school
Supporting corporal punishment is one thing; advocating
it is another, as Mr. McConnell recently learned. Studying for a graduate
teaching degree at Le Moyne College, he wrote in a paper last fall that
"corporal punishment has a place in the classroom." His teacher gave the paper
an A-minus and wrote, "Interesting ideas - I've shared these with Dr. Leogrande,"
referring to Cathy Leogrande, who oversaw the college's graduate program.
Unknown to Mr. McConnell, his view of discipline became a subject of discussion
among Le Moyne officials. Five days before the spring semester began in January,
Mr. McConnell learned that he had been dismissed from Le Moyne, a Jesuit
college.
Patrick E. Healy, "College Expels Student Who Advocated Corporal Punishment,"
The New York Times, March 10, 2005 ---
http://www.nytimes.com/2005/03/10/nyregion/10paddle.html
How not to raise kids in the modern age
Flagstaff, Ariz., is a clean and safe mountain town
where most people partake in mentally and physically healthy activities far from
the glaring fluorescent lights of Wal-Mart. The behavior illustrated in your
page-one article "Attention,
Shoppers: Bored College Kids Competing in Aisle 6" (Feb. 23) isn't
representative of the values of most residents of Flagstaff or my generation.
Concerned elders write about the problem with kids and cynicism these days. When
my kid says, "Mom, I'm bored! What should I do?" I won't reply, "Well, honey,
why don't you and your friends go play in Wal-Mart." Children need something
more to live for, something beautiful to believe in. Is there anything left in
this society to value besides production and consumption?
"Don't Mall Children's Need for the Beautiful," The Wall Street Journal,
March 10, 2005; Page A17 ---
http://online.wsj.com/article/0,,SB111042348170375543,00.html?mod=todays_us_opinion
My Answer: Take away the computer/television and make them sit alone or
together at home or in the yard until they get so bored they have to use their
own imaginations. What's wrong with having to overcome boredom on your own?
The USA's children live in an increasingly heavy
stew of media, spending about 6½ hours a day mostly watching TV, using computers
and enjoying other electronic activities. And they are spending relatively
little time reading or doing homework, a Kaiser Family Foundation survey
reported Wednesday.
Marilyn Elias, "Electronic world swallows up kids' time, study finds Children
plugged in about 6½ hours a day," USA Today, page 1A ---
http://www.usatoday.com/printedition/news/20050310/1a_bottomstrip10.art.htm
Maybe this is the result of the Wal-Mart Kid Generation:
What are the odds a ninth grader will graduate from college on schedule?
Other countries are doing a better job, the report
says. Fifteen countries have higher graduation rates from high school than does
the United States, where the rate is 73 percent. At the higher education level,
countries like China and India are making significant progress in educating
thousands of scientists and engineers at a time that many programs at American
colleges struggle to find qualified applicants. The report identifies other key
problems: 4 of 10 college students fail to graduate within six years.
One-fourth of low-income students in the top quartile of academic ability and
preparation fail to enroll in college within two years of their graduation from
high school. While the percentages of minority and low-income students who
enroll in higher education is increasing, a majority of minority students fail
to graduate.
"A Nation's Colleges at Risk," Inside Higher Ed, March 10, 2005 ---
http://www.insidehighered.com/insider/a_nation_s_colleges_at_risk
In a graphic called "Our Leaky Educational Pipeline,"
the report notes that for every 100 9th graders:
- 68 graduate from high school on time.
- 40 enroll immediately in college after graduation.
- 27 are still enrolled for their sophomore year.
- 18 graduate from college on time.
“Opt-Out” Disclosures in Pre-Screened Credit Card Offers
I had a couple of inquiries about "The Effectiveness of “Opt-Out” Disclosures in
Pre-Screened Credit Card Offers." You will find these at various sites (do a
Google search on Opt-Out Disclosures). So I went to the FTC site, a site that I
implicitly trust on issues of deception and fraud, and found a report at
http://www.ftc.gov/reports/prescreen/040927optoutdiscprecreenrpt.pdf
The bottom line is that these opt-out alternatives are far from being perfectly
effective and the layered notice approach is probably the most effective. I
would not give out privacy information to any sites that I do not know are
legitimate in this era of ID theft.
Bob Jensen's threads on consumer fraud are at
http://www.trinity.edu/rjensen/FraudReporting.htm
The best site on consumer fraud is the FTC site at
http://www.ftc.gov
I'm generally not in favor of long-term care insurance, but you should
make up your own mind independently of the pitch you get from a financial
planner or salesperson who make a lot of money selling you the contract.
Depending on where you live, it can be more. (See
state rankings here.) Compute the cost of a nursing-home stay -- the
average is about 2.4 years -- with the help of calculators at Web sites such as
Smartmoney.com (smartmoney.com/insurance/longtermcare/)
and Long Term Care Quote (ltcq.net).
If your assets won't cover bills, or could leave a spouse struggling
financially, long-term insurance may be the right choice for you.
"Buying Long-Term-Care Insurance," The Wall Street Journal, March 10,
2005; Page D1 ---
http://online.wsj.com/article/0,,SB111042232368775507,00.html?mod=todays_us_personal_journal
Jensen Comment: The first move should be to carefully read
http://www.ftc.gov/bcp/conline/pubs/services/apact/apact05.htm
Then seriously think about setting aside your own fund for this purpose and
leave out the middle person fees.
It's probably too soon to tell about effectiveness of identity theft
insurance.
Last year, Allstate Corp. began offering identity-theft
insurance in Texas and a few other states as a $30 rider on its homeowner and
renter policies. The spadework is contracted out to Kroll Inc., a
risk-consulting company. "We take a lot of the work of identity restoration off
the shoulders of victims," says Troy Allen, vice president for fraud solutions
at Kroll. "It's very time-consuming and difficult and frustrating."
"ID stolen? Call a privacy gumshoe," The Christian Science Monitor, March
9, 2005 ---
http://www.csmonitor.com/2005/0309/p12s01-stin.html
Jensen Comment: First read the document at
http://www.ftc.gov/os/2004/11/041104coninfosysprivimpassess.pdf
Then take a look at
http://www.trinity.edu/rjensen/FraudReporting.htm#IdentityTheft
Now is the time to think about a new
kind of computer mouse
As you can see, the PRO acts as a base for your
keyboard with the rollerbar and buttons about an inch from the space bar. Since
the bottom of the keyboard is intended to be flush with the docking station,
you'll need to have the common, straight-edged keyboard to fit snugly. Fancy,
curved keyboards need not apply here, since you'd have to stretch your thumbs an
extra distance, which defeats the purpose. With your keyboard docked, you can
rest your hands on the PRO's rubber wrist pads while controlling your cursor
with the rollerbar that spins up and down, and slides left and right. The
rollerbar can also act as a left click when pressed down gently. Below the
rollerbar are your buttons and a scrolling wheel.
Jeremy Atkinson, "The Ergonomic-Friendly RollerMousePRO," Extreme Tech,
March 7, 2005 ---
http://www.extremetech.com/article2/0,1558,1772699,00.asp
Jensen Comment: The second page of this review has some good pictures.
Newer treatments for epilepsy
Science has dispelled many myths about epilepsy -- most
importantly the myth that people with epilepsy will always suffer seizures. In
fact,
with treatment, between 70% and 80% of people with epilepsy are seizure free
for at least two years.
WebMDHealth ---
http://my.webmd.com/content/article/98/104690.htm?z=1728_81000_4259_qp_06
Arab
Americans
Think About It: They worked hard to get to America, and they worked hard once
they got here
About 41% of Arab residents have a college degree,
compared with 24% of other US residents, the Census Bureau said in its first
detailed socio-economic report on the nation's Arab population.
About 64% of residents with Egyptian ancestry had a college degree, the
highest among Arab groups, followed by Lebanese (39%) and Palestinians (38%).
"Census finds Arabs integrated in US," Aljazeera, March 9, 2005 ---
http://english.aljazeera.net/NR/exeres/E7CF4D8B-C5AE-4555-9460-082846467131.htm
Jensen Comment: Some Arab residents are our leading university teachers and
researchers. Others are probably not give a chance to perform at they're very
best. If they apply for work, let's try to look beyond their long and sometimes
strange sounding names.
I didn't want to "forget" this one
In the medical journal Neurology, Bennett and
colleagues describe 180 elderly Catholic clergy, participants in the Religious
Orders Study of ageing and dementia who agreed to annual mental tests beginning
in 1993 and brain autopsy when they died. At the time of death, 37 had mild
cognitive impairment, 83 had dementia, and 60 had no cognitive difficulties. Of
the 37 with mild cognitive impairment, 23 showed brain pathology consistent with
probable or definite Alzheimer's disease, and 12 had areas of brain tissue due
to loss of blood supply, the investigators report. Moreover, even among the 60
individuals without cognitive impairment, 28 showed evidence of probable or
definite Alzheimer's disease.
"Mental decline linked to Alzheimer's," Aljazeera, March 9, 2005 ---
http://english.aljazeera.net/NR/exeres/E9079052-FFAD-480D-AE48-661887A88699.htm
Mount Holyoke Dumps the SAT
Mount Holyoke College, which decided in 2001 to make
the SAT optional, is finding very little difference in academic performance
between students who provided their test scores and those who didn't. The
women's liberal arts college is in the midst of one of the most extensive
studies to date about the impact of dropping the SAT -- a research project
financed with $290,000 from the Mellon Foundation. While the study isn't
complete, the college is releasing some preliminary results. So far, Mount
Holyoke has found that there is a difference of 0.1 point in the grade-point
average of those who do and do not submit SAT scores. That is equivalent to
approximately one letter grade in one course over a year of study. Those
results are encouraging to Mount Holyoke officials about their decision in 2001.
Scott Jaschik, "Not Missing the SAT," Inside Higher Ed March 9, 2005 ---
http://www.insidehighered.com/insider/not_missing_the_sat
Jensen Comment:
These results differ from the experiences of the University of Texas system
where grades and test scores differ greatly between secondary schools. Perhaps
Mount Holyoke is not getting applications from students in the poorer school
districts. See
http://www.trinity.edu/rjensen/book04q4.htm#60Minutes
For a more general discussion of a
"Fair Test" see
http://www.trinity.edu/rjensen/assess.htm#AdmissionTesting
It can be expensive to tease about
gays
After years of legal fights, a former administrator at
New York University has won a $2 million jury award in a case in which he
charged the institution with anti-gay bias. Mark A. Taylor was director of
external affairs at NYU's medical school in 1994, when a biography of Leonard
Bernstein, by Humphrey Burton, identified Taylor as the last love in the late
composer's life. According to Taylor, the book was passed around the office,
with passages about him marked. He also said that Peter Ferrara, a colleague,
called him a "pansy" and made jokes about his sexuality. Subsequently, Ferrara
was promoted to become Taylor's boss and in 1997, Taylor's job was eliminated.
The university attributed the elimination to a reorganization. Taylor sued for
job discrimination. Prior to losing his job, Taylor was "repeatedly humiliated
with malicious and petty gossip and no one at NYU stepped in to do anything,"
said Michael G. O'Neil, his lawyer. "My client went from being well regarded and
respected to being a laughingstock." The jury that heard the case awarded
Taylor $300,000 in back pay, $700,000 for lost future pay, and $1 million for
his pain and suffering. O'Neil said that Taylor needed the money after finding
it difficult to obtain good jobs after he lost his post at NYU.
Scott Jaschik, "$2 Million in Anti-Gay Bias Case," Inside Higher Ed, March 9,
2005 ---
http://www.insidehighered.com/insider/2_million_in_anti_gay_bias_case
Summers time in the American
Sociological Association
The American Sociological Association has become the
latest group to take on Harvard's president -- releasing a
statement
Tuesday stating that there "is substantial research that provides clear and
compelling evidence that women, like men, flourish in science, just as in other
occupational pursuits, when they are given the opportunity and a supportive
environment." . . . "For example, objectively assessed math and scientific
ability differences between males and females have changed substantially over
the past three decades. In the United States they have become non-significant
and in some other countries, the United Kingdom, for example, girls' performance
exceeds that of boys at all levels of schooling," the sociologists said. "That
gender differences in these abilities have shifted so substantially over such a
short period of time makes it impossible for biological changes to have been
influential. This period, however, was one in which girls' access to school
courses, counselor encouragement, career opportunities, and role models changed
(and improved) significantly -- but not their biology."
Scott Jaschik, "Sociology Lecture for Summers," Inside Higher Ed, March
9, 2005 ---
http://www.insidehighered.com/insider/sociology_lecture_for_summers
March 10, 2005 message from Paul
Williams
Mostly on the subject of hacking into the Harvard Business School's admission
records to check on admission status, but a bit more on Lawrence of Absurdia.
Not so long as there are 57 credits whose content
teaches that ethical considerations are for the weak-minded. Harvard is being
a bit hypocritical. It certainly hasn't resisted the creation of a culture of
success where the pressure to get into the "best" schools is so intense that
hacking into the records to find out what your status is is probably the least
of the sins being committed by people frantic to get into an elite school.
Duke University, to its eternal credit, forgave one of its more famous
students for breaking into the office of the dean of the law school (the old
fashioned way of hacking) to get an early read on the results of final exams.
He later went on to become president of the United States. Think what might
have happened had Duke kicked him out of the law school (said with tongue
firmly in cheek).
Not to resurrect the Larry Summers debate, but Boston
Magazine has just published an article, "Lawrence of Absurdia" available at
http://www.bostonmagazine.com/ArticleDisplay.php?id=517 that speculates
from Summers past behavior that he might suffer from Asperger's syndrome, a
mild form of autism.
Why Women Leave I.T.
Women represent nearly half the workers in the U.S. --
46.6 percent. However, they always have been underrepresented in I.T. Even more
discouraging is the fact that the percentage of women working in I.T. jobs is
not growing but dropping. That is bad news indeed for employers seeking
hard-to-find technical candidates and the women who might otherwise fill those
well-paying jobs. "Skill obsolescence is the
number one issue for I.T. workers," Professor
Deb Armstrong of the University of Arkansas told NewsFactor. And it turns out,
according to a study by Armstrong and her colleagues, that certain facts of
women's lives make staying ahead of the game harder than it is for men.
Kimberly Hill, "Why Women Leave I.T.," NewsFactor Network, March 9, 2005
---
http://www.newsfactor.com/story.xhtml?story_title=Why-Women-Leave-I-T-&story_id=31000
Have you run out of ideas for
gifts? Here's the possible answer to your dilemma.
Sure, a computing purse and scarf set may seem like the
stuff of science fiction. But these devices, part of next generation of wearable
computers, could become commonplace within a few years. Unit shipments of such
wearable computers -- purses, watches, shirts -- should rise from 261,000 last
year to 1.39 million in 2008, according to the tech research firm IDC.
Olga Kharif, "Wearable Computers You Can Slip Into The latest generation of
these ever-smarter garments look like ordinary clothes, not something only a
cyborg would don," Business Week, March 8, 2005 ---
http://www.businessweek.com/technology/content/mar2005/tc2005038_5955_tc119.htm
Bob Jensen's threads on ubiquitous
computing are at
http://www.trinity.edu/rjensen/ubiquit.htm
Takes more than getting rid of pets: This is especially troublesome in
inner cities up north like NYC and Chicago
"These data confirm that cockroach allergen is the
primary contributor to childhood asthma in inner-city home environments," added
Kenneth Olden, director of the National Institute of Environmental Health
Sciences, which helped fund the study. "However, general cleaning practices,
proven extermination techniques and consistent maintenance methods can bring
these allergen levels under control."Cockroaches produce allergic reactions from
their saliva, fecal material, secretions and cast off skin.
"Allergy study: Roaches worse than furry pets," CNN, March 9, 2005 ---
http://www.cnn.com/2005/HEALTH/conditions/03/09/roaches.allergens.reut/index.html
Researchers identify a protein critical for
achieving pregnancy. As the first such discovery, the finding could lead to
non-hormonal contraception or male infertility treatments.
Kristen Philipkoski, "Sperm Protein Seals the Deal," Wired News, March 9,
2005 ---
http://www.wired.com/news/medtech/0,1286,66837,00.html?tw=wn_tophead_6
In some academic performance
evaluations, service now receives a small weighting of less than 10% when
compared to what the university considers the big drivers of success: Research
and Teaching.
Pursuing academic engagement necessitates radically
rethinking "service" and "knowledge," finding innovative mechanisms to organize
and leverage academe's intellectual capital to transform lives for the benefit
of society. It requires us to acknowledge that a university's collective wisdom
is among its most precious assets -- anchored to, but not in competition with,
basic research and disciplinary knowledge -- and that part of the significance
of such wisdom is tied to its use. While redefining and implementing more
robust notions of service and knowledge will be arduous, the payoff could be
enormous. Fortunately, there is a movement afoot at many public research
institutions across the nation, a movement to bring higher education out of the
19th into the 21st century. With rising tuition, limited access to the nation's
best universities, and increasingly complex social problems, many recognize that
the need for public institutions to find meaningful ways to serve the citizens
of their states is more important than ever. Universities must fulfill a social
compact with their states. At my own institution, the University of Texas at
Austin, a critical mass of faculty embrace this compact: academics best
described as "intellectual entrepreneurs," citizen-scholars supplying more than
narrow, theoretical disciplinary knowledge. They exemplify academic engagement,
taking to heart the ethical obligation to contribute to society, to both
discover and put to work knowledge that makes a difference.
Richard A. Cherwitz, "Intellectual Entrepreneurship: The New Social Compact By,"
Inside Higher Ed, March 9, 2005 ---
http://www.insidehighered.com/views/intellectual_entrepreneurship_the_new_social_compact
Scholastic Notes on Your Computer:
Have you thought about speaking out while you are studying or reading?
For some doctors, the prospect of trading in their
paper-based patient files for electronic-medical-record systems means big
changes in their work, and they and their staffs can't afford the initial
slowdown as they learn to enter and deal with digitized patient information. But
what if speech-recognition technology was good enough to actually understand and
digitize not just a doctor's words to include in medical records, but the
medical lingo held in them? A startup tech vendor led by George Newstrom, the
former secretary of technology for Virginia under Gov. Mark Warner, is making
plans for such technology to be one of the many tools for getting more doctors
using electronic records.
"Voice-Technology Startup Aims To Get Doctors Using E-Records," Information
Week, March 8, 2005 ---
http://snipurl.com/SpeakUp
Virus threat to mobile phones
A new mobile phone software virus started spreading
this week via messages containing photos and sounds, the first of its kind and a
threat to cellphones globally, data security firms said Tuesday. The
Commwarrior. A virus tries to replicate itself by sending multimedia messages to
people on the phone's contacts list, and also tries to do the same via Bluetooth
wireless connections with other devices, eventually draining the battery.
"New virus found in phone messaging," CNN, March 8, 2005 ---
http://money.cnn.com/2005/03/08/technology/personaltech/mobile_virus.reut/index.htm
Little Red Riding Hood doesn't know
it's the really big bad wolf
As the Social Security debate heats up, it pays to
watch the political sleight-of-hand. The latest gimmick to emerge, cleverly
marketed as a potential bipartisan compromise and "victory" for the White House,
is the notion of "add-on" personal investment accounts. Under President Bush's
proposal, individuals would be able to divert part of their payroll taxes into
personal accounts that they would own. That idea is apparently too shocking for
many in Congress and the AARP, however, so instead they're proposing new
accounts that would be financed by other tax revenue -- that is, by other
taxpayers. In short, they want to create a new entitlement to "add" to all the
old ones. If this is what is going to count as Social Security "reform," count
us out.
" 'Adding-On' Entitlements," The Wall Street Journal, March 9, 2005;
Page A20 ---
http://online.wsj.com/article/0,,SB111033447404774285,00.html?mod=todays_us_opinion
Sound farfetched?
Imagine a government that has stopped providing
national defense, halted criminal prosecutions, canceled mail delivery and
abandoned its highways and parklands. This government, in fact, does nothing but
write benefit checks and pay interest on its debts — and still runs an annual
deficit. Sound farfetched? Actually, that prospect is just three decades off
if U.S. government benefit programs grow at current rates and the size of
government relative to the economy stays constant. Social Security is partly to
blame for this dire outlook. Without changes, its costs will rise from about 20%
of federal spending to 30% in the next 25 years. But by far the biggest culprit
is the exploding cost of health care, particularly Medicare, the government's
insurance program for seniors. Medicare has grown 23-fold in the past three
decades, from $13 billion in 1975 to $295 billion this year. It is on a
trajectory that will soon rocket it past Social Security to the upper
stratosphere of unaffordability. In 25 years, it will rise from 13% of federal
spending to almost 40%. As a problem for the U.S. economy and future retirees,
exploding health care costs dwarf Social Security. By focusing exclusively on
the latter, President Bush is overlooking the bigger problem. This is akin to
getting a car tuned up when its transmission is shot and its engine has locked
up.
"Medicare's mounting
troubles dwarf Social Security's woes: Washington ignores bigger problem of
exploding health care costs," USA Today, March 9, 2005, Page 10A ---
http://www.usatoday.com/printedition/news/20050309/edit09.art.htm
My unfinished essay
on the "Pending Collapse of the United States" ---
http://www.trinity.edu/rjensen/entitlements.htm
Tired of teaching? Write and essay
and fire it off to the Board of Trustees
The University of Colorado's review of Ward Churchill's
scholarship has been delayed, perhaps until Monday, partly to allow lawyers time
to craft a buyout offer, according to a person close to the process. The
original March 3 deadline for the Churchill review has been pushed back twice
now as a three-member committee of CU administrators wrestles with his writings,
including an essay comparing some 9/11 victims to Nazi Adolf Eichmann. Tuesday,
Churchill's attorney, David Lane, said he is "not at liberty" to discuss any
talks he might have had with the university on a buyout proposal. He said again,
however,...
Dave Curtin, "CU delays Churchill review," Denver Post, March 9, 2005 ---
http://www.denverpost.com/Stories/0,1413,36~53~2751963,00.html
Bob Jensen's threads on Ward Churchill are at
http://www.trinity.edu/rjensen/hypocrisyChurchill.htm
Where's Chief Churchill?
Claims of Indian heritage aren't rare these days,
particularly in the South, where laws and attitudes stigmatizing nonwhites have
waned. In polls, more than 40% of Southerners now say they have an Indian
ancestor. In fact, says John Shelton Reed, a sociologist at the University of
North Carolina, white Southerners are likelier to claim an Indian than a
Confederate forebear. But the Apalachee stand out because of their hidden epic
of survival -- and because of the modest couple who have brought them to light.
Tony Horwitz, "Apalachee Tribe, Missing for Centuries, Comes Out of Hiding: The
Indians' Tragic History Is Documented by Chief; A Push for Recognition," The
Wall Street Journal, March 9, 2005 ---
http://online.wsj.com/article/0,,SB111032889711474126,00.html?mod=todays_us_page_one
Doctors have the millennia-old Hippocratic Oath. Pharmacists,
mathematicians and even football coaches all have codes of ethics. Not
investment bankers.
Investment banking is a vexing area to police.
Bankers sit in the crucible of the economy: doling out loans; hammering out
contracts; and counseling companies on the sensitive topics of mergers and
acquisitions, among other things. It is in these areas that ethical lapses can
occur, with bankers using confidential information from one client to benefit
another, or failing to fully outline the drawbacks of a particular transaction
to guarantee a big payday. Many on Wall Street say the vast majority of bankers
are ethical ones, but nearly all will admit they can lose or win fees based on
how far they are willing to go. Given the million of dollars in profits that
also can be personally earned from one or two banking transactions, the
"pressure on behavior is sometimes too great to bear," writes Gerald Rosenfeld,
chief executive officer of investment bank Rothschild North America, in the
book. Instead of trying to create a rule for every ethical permutation, a
potential code "should have basic principles with respect to who you're
accountable to, and what your priorities are between yourself, your client and
your regulators," says Mr. Rohatyn, the former managing director of investment
bank Lazard who now heads his own firm, Rohatyn Associates. "It's really
something that has to be embedded in an organization all the way up and down,"
he says. "Ultimately, it has to be instinctive." When asked, some of Wall
Street's leading investment banks say they welcome the idea of a code. For now,
the list of supporters includes Citigroup, Credit Suisse Group's Credit Suisse
First Boston, Goldman Sachs Group, J.P. Morgan Chase, Lehman Brothers Holdings,
Merrill Lynch and Morgan Stanley. Since it is now simply a vague
recommendation, exactly what it would contain remains to be seen. But a code
could include principles for handling conflicts of interest, behavioral
guidelines for dealing with clients and competitors, and some recognition of a
banker's duty to society at large. Writing such a code could face an uphill
fight. Deep in the trenches, some Wall Street bankers displayed an instinctive
skepticism.
Dennis K. Berman, "Does Wall Street Finally Need An Ethics Code?," The Wall
Street Journal, March 10, 2005 ---
http://online.wsj.com/article/0,,SB111040943044975189,00.html?mod=todays_us_money_and_investing
Jensen Comment: Lawyers have codes of ethics; Just goes to prove that it takes
more than a codification.
Flashback
The Wall Street Journal, March 10, 2000
Knocking aside valuation, interest-rate and psychological barriers like
tenpins, the Nasdaq Composite Index rolled through the 5000 mark yesterday. It
is a crowning milestone in investors' unprecedented love affair with
technology stocks.
January 9, 2005 --- Nasdaq Composite Index = 1525 (and rolling much
slower)
Top 10 Corporate Hate Sites
To honor these quixotic champions, we spent hours
trawling the Web looking for the very best corporate hate sites. After checking
out more than 100 sites with names like dontflycontinentalairlines.com and
fordlemon.com, we rated the best of them on a scale from one to five in six
different categories: ease of use, frequency of updates, number of posts,
hostility level (angrier is better), relevance, and entertainment value (Hey!
Angry and funny!).
Charles Wolrich, "Top Corporate Hate Web Sites," Forbes, March 8, 2005
---
http://www.forbes.com/technology/2005/03/07/cx_cw_0308hate.html
And the best of the worst is built
on a cracked foundation
KB Homes KBhomesucks.com ---
http://www.kbhomesucks.com/
(Complete with videos)
No pay is our way
PayPal Sucks, aka No PayPal, is an anti paypal site to expose the nightmare of
doing business "the paypal way."
PayPal (part of eBay) Paypalsucks.com ---
http://www.paypalsucks.com/
I wouldn't shake these hands
Allstate Insurance Allstateinsurancesucks.com ---
http://www.allstateinsurancesucks.com/
DOI data helps rank Allstate as # 2 Bad Faith Insurer
Under the new name of Microsuck
After four years of being known primarly as [ahem]Microsoft.com, the flagship
site of the Microsoft Eradication Society now sports a new, slightly more
family-friendly name: Microsuck. And if you've come here expecting the old
Microsuck website, we regret to inform you that it is no more. After laying
dormant for a while, the previous owners offered it for sale to us. We
couldn't resist.
Microsoft MS-Eradication.org ---
http://www.ms-eradication.org/
Microsuck ---
http://www.ms-eradication.org/newsite.shtml
Bad ingredients in your financial
happy meal
You'll also learn why the posters refer to American
Express's (known as Threadneedle in Europe, United Kingdom (UK)) financial
plans as a financial plan Happy Meal. Just like McDonald's Happy Meal, AEFA's
financial plan happy meal always consists of the same items: Annuity, VUL, AXP
Funds, and disability insurance.
American Express Amexsux.com ---
http://www.amexsux.com/
This is really a complaint forum
with links to complaint forums for other large chains of stores
Wal-Mart WalMart-Blows.com ---
http://walmart-blows.com/
Among the claims: 50% of the
bills are incorrect (I've got some myself so I believe it)
Verizon Verizonpathetic.com ---
http://www.verizonpathetic.com/
October 20, 1998 to the present:
Complaints = 4,911; Replies = 66
UAL (parent of United Airlines) Untied.com ---
http://www.untied.com/
Inside look
Ever wondered why your packages arrive at your door
step crunched, smashed, broken, snapped and crushed? You've probably never
been inside a UPS facility and witnessed the package smashing first-hand.
You've probably never watched a truck get unloaded, where the packages are
thrown out the back door onto the conveyor belts and then thrown into the back
door of another truck. But I have.
United Parcel Service UnitedPackageSmashers.com ---
http://www.unitedpackagesmashers.com/
Jensen Comment:
We have a lot of package shipments, and I’ve had more damaged parcels from the
USPO.
There was a tenth site that went dark
about the time this article was published
It's called the CNN Gag Order, but
somebody's not listening
Tuesday morning's editorial meeting included a warning
to employees not to leak complaints about the network. TVNewser has obtained an
excerpt from the editorial meeting notes, as they are sent by Sue Bunda: "Jon
[Klein] started the meeting by reminding everyone that the editorial meeting is
sacrosanct....what is said in this meeting should not be leaked outside the
company. He reminded everyone that leaking will get a person fired if they are
caught...Jon has an open door and called the idea of leaking complaints foolish
when any employee can approach him in person, on the phone, via email. He is...
"TVNewser Post Provokes Warning To CNN Employees: 'What Is Said In This Meeting
Should Not Be Leaked Outside The Co.'," MidiaBistro, March 9, 2005 ---
http://www.mediabistro.com/tvnewser/
It's called the former Rutgers Gag
Order
Amid a barrage of criticism, Rutgers University on
Tuesday reversed an earlier
decision restricting students in an investigative journalism course from
exploring topics at the university. John Pavlik, chairman of the journalism and
media studies department, had mandated in January that students in the
Investigative and In Depth Reporting class at Rutgers limit their work to
off-campus subjects. He had made that decision, in part, because of complaints
from colleagues and officials in other departments about some of the articles
students in the course had written, including
one on alleged special treatment of athletes that
The Daily Targum,
Rutgers's student newspaper, had declined to publish. Inside Higher Ed's
article last week on the Rutgers controversy prompted a barrage of criticism
of the department's decision. One local newspaper
columnist blasted the decision in a column called "The Sting of Rutgers
Censorship." Officials at Temple and Columbia Universities challenged Pavlik's
contention that Rutgers was following their lead in barring journalism students
from writing about on-campus issues. And the Society of Professional
Journalists said last week that it would set up a fact finding panel to explore
the issue.
Doug Lederman, "Reversing Course at Rutgers," Inside Higher Ed, March 9, 2005
---
http://www.insidehighered.com/insider/reversing_course_at_rutgers
Customer vs. Bank of America
According to a report in The Register, Joe
Lopez, a small businessman from Florida, alleges that Bank of America was
negligent because it failed to protect his account from compromise through known
risks. He regularly used the bank's online services to send and receive money
from the U.S. and Latin America, but last April he discovered an unauthorized
wire transfer for $90,348 sent to a bank in Latvia. When he became aware of the
fraud, he notified the police, and when the Secret Service performed a forensic
examination of his PCs, they uncovered an infection by a Trojan called Coreflood.
Donald Smith, "Customer vs. Bank of America: Who's to blame?" Search
Security, February 25, 2005 ---
http://searchsecurity.techtarget.com/columnItem/0,294698,sid14_gci1062440,00.html
What are the best foods to serve a burglar?
Police say thieves often cannot resist tucking into a
snack after breaking into a home, and traces of saliva on the food remains can
yield a telltale signature of the criminal's DNA. A handful of hungry crooks
have been caught and jailed this way over the past decade, a phenomenon that has
prompted curious scientists to wonder which foods may yield the best saliva
sample. Forensic researchers Heather Zarsky and Ismail Sebetan of the National
University in La Jolla, California, organised a dinner party for 13 people, the
British weekly New Scientist reports.
"A bite can bait a burglar," Aljazeera, March 10, 2005 ---
http://english.aljazeera.net/NR/exeres/9030541B-1315-4C3D-A9E9-FFA489043776.htm
The menu
On the menu were pizza, corn on the cob, chicken wings, ribs, chocolates,
cheese, apples and carrots.
Just another day on the Merrill
Lynch fraud beat
Merrill Lynch & Co. was fined a total of $13.5 million
by regulators for failing to supervise four brokers in New Jersey who helped a
hedge fund rapidly trade in and out of mutual funds and variable annuity
investment accounts to the detriment of other investors. Three brokers in
Merrill's Fort Lee office and one with lesser responsibility in another New
Jersey branch allegedly helped hedge fund Millennium Partners LP rapidly trade
in and out of 521 mutual funds and 40 variable annuity accounts despite policies
at Merrill and some of the funds to discourage such trading, known as market
timing, the regulators said. Merrill fired three of the brokers in October 2003.
Jed Horowitz, "Merrill Fined In Market-Timing Case: Firm to Pay $13.5 Million;
4 Accused of Rapid Trading To Aid Millennium Partners," The Wall Street
Journal, March 9, 2005; Page C15 ---
http://online.wsj.com/article/0,,SB111029865794273529,00.html?mod=todays_us_money_and_investing
Bucking a
spate of previous rulings favorable to the securities industry, arbitrators
ordered
Merrill Lynch & Co. to pay a Florida couple more than $1 million for failing
to disclose that its analysts had conflicts of interest in recommending stocks.
Jed Horowitz, "Merrill Ordered to Pay 2 Clients Over Analyst Conflicts on
Stocks," The Wall Street Journal, March 1, 2005; Page C3 ---
http://online.wsj.com/article/0,,SB110962110354266151,00.html?mod=todays_us_money_and_investing
Jensen Comment: Merrill Lynch has one of the worst fraud records on Wall
Street. Eliot Spitzer once claimed he had enough smoking guns to bring down
Merrill Lynch if he chose to do so. You can read more by searching for
"Merrill" at
http://www.trinity.edu/rjensen/fraudrotten.htm
Hacking Harvard: No fair peeking
Harvard Business School will reject 119 applicants who
followed a hacker's instructions and peeked into the school's admission site to
see if they had been accepted, the school's dean said. "This behavior is
unethical at best -- a serious breach of trust that cannot be countered by
rationalization," Kim Clark said in a statement Monday. "Any applicant found to
have done so will not be admitted to this school."
"Harvard Rejects Applicants Who Peeked into Admissions Computer," MIT's
Technology Review, March 8, 2005 ---
http://www.technologyreview.com/articles/05/03/ap/ap_030805.asp?trk=nl
It started out as just a few
malcontents in third world countries, but now the threat has hit the big time.
Phishing joins numbers running, drug smuggling and currency fraud as yet another
tool of organized crime.
Phishing, which first appeared more than 10 years
ago, has grown from humble roots to become the international electronic crime of
choice for amateurs and professionals alike. In its simplest form, phishing
involves sending out fake e-mail messages that ask recipients to enter personal
information, such as bank account numbers, PINs or credit card numbers, into
forms on Web sites that are designed to mimic bank or e-commerce sites.
Dennis Fisher, "Phishing Is Big Business," eWeek, March 7, 2005 ---
http://www.eweek.com/article2/0,1759,1772523,00.asp
Bob Jensen's threads on phishing are at
http://www.trinity.edu/rjensen/ecommerce/000start.htm#Phishing
Question
"What can be done to prevent, postpone, or correct the vision loss at early
stages of cataracts?"
Answer
For otherwise healthy people, limiting sun exposure, wearing UV blocking
eyewear, and consuming a balanced diet rich in antioxidants are probably the
wisest ways to help prevent or delay cataracts.
"Dr. Lloyds Guide to Better Eye Care," WebMDHealth ---
http://my.webmd.com/content/pages/15/96152.htm?z=1728_00000_1000_td_01
Take the power from the Supreme Court
and give it back to the House of Commons
Mother of Slain RCMP Officer: “It’s Time to take our
Liberal Attitude to Task” RED DEER, Alberta, March 7, 2005 (LifeSiteNews.com) –
The mother of one of the four Royal Canadian Mounted Police officers who were
shot dead during a drug bust in Alberta Thursday, spoke to the media Saturday
with a powerful message for Prime Minister Paul Martin. “It is time that our
government take a stand on evil,” Colleen Myrol said Friday from in front of her
home in Red Deer, Alberta. “The man who murdered our son and brother was a
person who was deeply disturbed and...“Prime Minister Paul Martin, we depend on
you and we expect you to change the laws and give the courts real power,” she
said. “Give the power back to the police. Take the power from the Supreme Court
and give it back to the House of Commons. We are a good country. Brock knew
that. He loved the RCMP and all it stood for.”
"Mother of Slain RCMP Officer: 'It’s Time to take our Liberal Attitude to
Task'," Life Site, March 7, 2005 ---
http://www.lifesite.net/ldn/2005/mar/05030703.html
Outsourcing may not be the
best way to save money
A new Gartner Study shows that Outsourcing may not be the
best way to save money. In fact, 80% of the companies that outsource to save
money will fail to do so. Of course, there might be other valid efficiency based
reasons to outsource. Gartner: Outsourcing costs more than in-house | CNET
News.com
From Jerry Trites' blog on March 9, 2005 ---
http://www.zorba.ca/blog.html
See
http://news.com.com/Gartner+Outsourcing+costs+more+than+in-house/2100-1022_3-5600485.html?tag=nefd.pop
The following add appealing to spring
break students appeared in Business Week's MBA Express, March 9, 2005
South Padre Island, Texas. Located in the Gulf of Mexico
off the coast south of San Antonio, the island offers great fishing,
windsurfing, and sun-bathing. Throw out your line in the Gulf, and you just
might reel in an 800-pound marlin or wahoo.
Jensen Comment: I don't think spring
breakers are casting out for fish.
Possible new assurance service clients
for CPA firms
A number of major international charities are opening
their doors for the first time to outside inspectors, allowing them to certify
that donations are spent as advertised. The charities say they hope thorough
inspections and a new industry seal of approval will assuage public fears of
donations being misused. The nonprofits are also trying to keep ahead of a
movement in Congress to impose regulations on the fast-growing but largely
unsupervised world of nongovernmental organizations.
Michael M. Phillips, "Big Charities Pursue Certification To Quell Fears of
Funding Abuses," The Wall Street Journal, March 9, 2005; Page A1 ---
http://online.wsj.com/article/0,,SB111033202546074217,00.html?mod=todays_us_page_one
Bob Jensen's threads on charity frauds are
at
http://www.trinity.edu/rjensen/FraudReporting.htm#CharityFrauds
You can read more about assurance services
at
http://www.trinity.edu/rjensen/ecommerce/000start.htm#AssuranceServices
Big Brother
really is watching you
The man marched down the street in daylight, armed with
a paintball rifle that had been converted to shoot with lethal force. He
then blasted a newly installed camera in hopes of freeing the drug-ridden
neighborhood from police surveillance. But the shooter's image was saved on the
camera's hard drive. "All it did was get him arrested," chuckled New Orleans'
chief technology officer, Greg Meffert. "The camera immediately notified the
police and tracked him until he was caught." And when they got him, they found
he was wanted on a murder arrant.
Mary Foster, "N. Orleans Installing Surveillance Cameras," SFGate, March
8, 2005 ---
http://sfgate.com/cgi-bin/article.cgi?f=/n/a/2005/03/08/national/a110248S39.DTL
Rape Protest in Pakistan
Thousands of women rallied in eastern Pakistan on
Monday to demand justice and protection for a woman who said she was gang-raped
at the direction of a village council, after a court ordered the release of her
alleged attackers. The victim, Mukhtar Mai, also attended the rally in Multan, a
major city in the eastern province of Punjab. Waving signs and chanting, the
demonstrators, many of them from nearby villages, joined the rally. Organizer
Farzana Bari said more than 3,000 women were at the event. "We will fight for
justice for Mukhtar Mai," the women chanted during...
Kansas City Star, March 8, 2005
Don't toot your own horn in France
But that's not the way the musicians' unions in Germany
and France see it. Mr. Mertens of the Deutsche Orchestervereinigung, or German
orchestra union, says people like Mr. Hartung are engaging in "unfair
competition" that "jeopardizes European jobs." According to this view, orchestra
directors bringing in low-wage East European musicians to play to West European
crowds are exploitative profiteers who are mistreating their workers and harming
their West European counterparts at the same time. In other words, putting on a
tour in small towns that can't afford a French opera company and giving work to
eager musicians from the east is a lose-lose proposition.
Brian M. Carney, "Show Stopper," The Wall Street Journal, March 9, 2005
---
http://online.wsj.com/article/0,,SB111031869846473836,00.html?mod=opinion&ojcontent=otep
Where's Jane?
No one will be asking "Where's Jane?" in a few weeks,
when her autobiography, "My Life So Far," arrives with the kind of fiercely
controlled, all-fronts media campaign politicians can only dream of. Her
publisher, Random House, will not release the book to reporters or critics in
advance, . . . Yet her influence on the popular culture has been so enormous
that it would be foolish to dismiss her as just another actress trying for a
comeback; after all, she has set a path American society has followed more than
once. Her political activism, unusual for a movie star in the 70's, is now so
common she seems like the template for contemporary celebrity.
Sean Penn,
Susan Sarandon and
Arnold Schwarzenegger might have had very different careers without her.
Today only the most bubble-headed pop stars are expected not to comment on world
events.
Caryn James, "Where's Jane Fonda? On Yet Another Journey," The New York Times,
March 8, 2005 ---
http://www.nytimes.com/2005/03/08/movies/08fond.html
Don't crowd her
The Monterey Aquarium's popular great white shark is
now a killer, having taken down one of its Outer Bay tank-mates two weeks ago
and inflicting a 5-inch gash in the tail of another soupfin shark on Monday. But
aquarium officials believe the 88-pound, well-fed white shark wasn't hunting its
neighbors -- only reflexively chomping when it was startled by an accidental
collision with the slower-swimming sharks. There are no plans to move the female
great white, although officials may relocate two remaining soupfin sharks to
avoid potential clashes in the million-gallon tank. "The white shark and the
soupfins are tending...
Alan Gathright, "Aquarium attack called accident Great white shark chomped on
tail of its tank-mate," San Francisco Chronicle, March 9, 2005 ---
http://sfgate.com/cgi-bin/article.cgi?file=/c/a/2005/03/09/BAGG1BMH9B1.DTL
Would donating the land to the Feds
really serve their purpose?
The Mount Soledad cross must go, the San Diego City
Council said yesterday. The 16-year saga of whether the cross would stay on
public land in La Jolla came to an emotional conclusion last night as the
council voted 5-3 to reject a last-ditch effort to keep it in place. The vote
capped a six-hour public hearing that attracted 350 people, most of them
Christians who urged the council to donate the cross and surrounding land to the
federal government so it possibly could remain where it has stood since 1954.
But the cross now must be moved to comply...
Matthew T. Hall, "No clemency for cross," The San Diego Union Tribune,
March 9, 2005 ---
http://www.signonsandiego.com/uniontrib/20050309/news_7n9cross.html
Hissy fits and real progress
Susan Estrich is playing a dog-eared victim card and in
doing so reveals herself as well behind her curves. Three-fourths of American
women between 25 to 34 are in the workforce, up from half in 1975. A report by
the World Future Society finds that Generation Xers and their younger
counterparts in the millennial generation toil in a workplace that is all but
"gender-blind." Fully 57 percent of American college students are women. The
old-boy school of the entrepreneurial world has given way to the "new girl"
school, with women more and more starting their own shops and companies. Life
insurance companies sell more policies to women than to men. As women continue
to draw on experience and education, they're accelerating their numbers in upper
management, too. Top salaries for women are not yet as high as those for men,
but women's salaries have been rising faster in America for 30 years. Trends
suggest that the average woman's income may exceed that of the average man
within a generation.
Suzanne Fields, "Hissy fits and real progress," Jewish World Review,
March 10, 2005 ---
http://www.jewishworldreview.com/cols/fields031005.asp
Forwarded by Debbie Bowling
Hackers commandeered a database owned by information
industry giant Lexis Nexis, gaining access to the personal files of as many as
32,000 people, company officials said Wednesday. Federal and company
investigators were looking into the breach at Seisint, which was recently
acquired by Lexis Nexis and includes millions of personal files for use by such
customers as police and legal professionals.
Ellen Simon, "U.S. Citizens' Data Possibly Compromised," ABC News, March 9, 2005
---
http://abcnews.go.com/US/wireStory?id=565298
Eight hours in bed, seven for sleep,
one for ____________ (think of something that will help you sleep more soundly
such as reading accounting books, watching TV commercials, ?)
Seven hours of sleep is plenty for most people.
Much more than that isn't good for you. In fact, people who regularly sleep more
than eight hours a night tend to die sooner. A bit less won't hurt you. But
less than five hours' sleep, night after night, takes a toll. Sleeping late
once in a while won't hurt. Neither will getting too little sleep every so
often. But don't make a habit of it. Sleeping well is as important to your
health as eating well.
"What's a Good Night's Sleep?," WebMDHealth, March 9, 2005 ---
http://my.webmd.com/content/article/71/81370.htm?z=1728_00000_1000_td_01
March 9, 2005 message from
Paula
Just wanted to let you know that the new Homeland Security Bill has passed.
Things will be different now and Internet surfing will be tracked by what the
FBI calls a "non-intrusive method." The FBI says you will not notice anything
different.
For a demonstration, click on the link below...
Homeland Security ---
http://users.chartertn.net/tonytemplin/FBI_eyes/
Church Versus State
A federal appeals court in Washington endorsed the use
of federal AmeriCorps money to place young teachers in religious schools. The
decision reversed a lower court judge who said the program crossed the
constitutional line separating church and state. The AmeriCorps program trains
participants, offers them $4,725 in financial aid and has them teach needy
children in secular and religious schools. The participants fulfill a service
requirement of 1,700 hours by teaching secular subjects, though they may also
teach religious courses. The American Jewish Congress, which brought the case,
argued that federal money was being used improperly to pay for teaching
Christian values.
"Appeals court reverses ruling on AmeriCorps," USA Today, March 9, 2005,
Page 8A ---
http://www.usatoday.com/printedition/news/20050309/a_capcol09.art.htm
This concerns a hilarious essay generating
site noted by David Albrecht.
Message from Charlie Betts
[cbetts@COLLEGE.DTCC.EDU]
His web site (
http://radioworldwide.gospelcom.net/essaygenerator/ ) does more than
generate funny essays. Among other things it also has a proverb generator. I
tried the word "accounting" several times and got the following responses
(among others)
"An accounting in time saves nine."
"No use crying over spilt accounting."
"Two wrongs do not make an accounting."
"Better the accounting you know than the accounting you don't."
The last one is my favorite and can be taken several
ways, but I'm not sure how original it is. I think I've heard it used before
as an argument against the acceptance of International Accounting Standards
and against almost any accounting change proposed by the FASB.
Charlie Betts
"America believes in education: the average professor earns more money in a
year than a professional athlete does in a whole week." Evan Esar (or at least
some professional athletes)
Charles M. Betts DTCC,
Terry Campus
100 Campus Drive
Dover DE 19904
cbetts@college.dtcc.edu
Forwarded by Auntie Bev
What me mudder said vs. what me fadder said ---
http://txc.net.au/~mapie/memudder.htm
Cleaning Up Corporate Japan
Is Japan Inc. finally moving toward more responsible
corporate governance? After last week's arrest of Yoshiaki Tsutsumi, owner of
the country's major railway, hotel and resort conglomerate Seibu group, there's
at least reason to believe that the government is finally demanding more
accountability from its corporate leaders. Mr. Tsutsumi, former chairman of
Seibu railway and its holding company, Kokudo, was arrested on Thursday on
charges of insider trading and falsification of documents. While his guilt of
these charges is still to be determined, the Japanese press has not held back
from criticizing the politically influential Mr. Tsutsumi and his business
empire, portraying them as powerful symbols of corporate Japan's lack of
transparency and disregard for shareholder interests.
"Cleaning Up Corporate Japan," The Wall Street Journal, March 10, 2005
---
http://online.wsj.com/article/0,,SB111040748350775119,00.html?mod=opinion&ojcontent=otep
Bob Jensen's rotten to the core threads are at
http://www.trinity.edu/rjensen/fraudrotten.htm
Forwarded by Don Mathis
The National Consumer Law Center placed an emphasis on
divorce as a primary causal factor in their testimony before Congress in 1998:
the average bankruptcy occurs “because
of the convergence of consumer debt, job loss and divorce ... when a family
splits up, the pressure of running a household with less total income is
impossible.” They also cite downsizing, economic dislocation, income
disruptions and underemployment as major factors. The President of Easton Bank
and Trust Company not only emphasized the problem of divorce in his
congressional testimony, but also pointed out the real reason why banks want
bankruptcy reform in the first place: “The industry has long understood, and
since 1997, testified before both the House and Senate that many factors such as
divorce, lack of health insurance etc. all play a role in
causing bankruptcy. We cannot and would not underwrite for these types
of factors—can you imagine if on the credit application, we asked about
such matters?”
Robert R. Usher, "Mensnewsdaily.com," March 9, 2005 ---
http://www.mensnewsdaily.com/archive/u-v/usher/2005/usher030905.htm
"How Banks Pretty Up The Profit
Picture: Playing with loan-loss reserves can produce deceiving earnings,"
Business Week, February 21, 2005 ---
http://yahoo.businessweek.com/magazine/content/05_08/b3921110_mz020.htm
Last year the banks
had an easy way to juice their profits. All they had to do was allocate a
little less money to loan-loss reserves -- the money they set aside to cover
bad debt. As the economy has improved and defaults have slowed, many decided
they didn't need as much in reserve as they did in 2003, and presto, their
earnings per share would rise a few cents.
But investors who
assume the profits are humming and decide to buy bank stocks could be in for a
shock. In 2005 many banks won't have this profit source. Some have already
pared loan-loss reserves as much as they reasonably can, analysts say. "A lot
of banks may do this from time to time to meet estimates," says Brian Shullaw,
senior research analyst at SNL Financial in Charlottesville, Va.
The trouble with
whittling away the reserves is that as banks write more loans, they will have
to replenish the reserves. Plus, if credit conditions worsen as economic
growth slows and interest rates rise, they will need to set aside even more,
eating further into profits.
Do a little digging,
and the current numbers don't look so great. Detroit's Comerica Inc. (CMA )
had one of the largest drops in its loan-loss reserves relative to total
assets, according to a study of large banks' fourth-quarter earnings done by
SNL for BusinessWeek. Not only did Comerica fail to add money in the fourth
quarter, it also extracted $21 million from the pot. That gave it an extra $98
million in income, or 57 cents a share, that it didn't have last year. The
bank beat analysts' earnings estimates by 10 cents. Comerica Chief Credit
Officer Dale Greene says muted loan growth, coupled with major improvement in
credit quality, justify the move.
Others, such as
Citigroup (C ), garnered a few extra cents from replenishing reserves by a
smaller amount than before. But it was enough to help them beat analysts'
earnings estimates by a penny or two. Citi Chief Financial Officer Sallie L.
Krawcheck said in a Jan. 20 conference call that the reserving process was
done in mid-quarter based on a mathematical formula. She noted: "We as a
company work very hard to systematize the process around rigorous analytics."
Of course, banks
can't just shift funds around willy-nilly. Accounting rules dictate that they
have to justify decreases in loan-loss allowances, for example by citing
substantial improvement in credit trends. This past quarter, a bevy of bank
earnings releases cited fewer nonperforming loans, improving asset quality,
and a stronger underlying global economy as reasons for smaller loan-loss
provisions. Bill Lewis, leader of the U.S. banking practice at
PricewaterhouseCoopers, notes that subjectivity is often involved, but "most
banks, in light of heightened regulatory scrutiny, are more precise in their
estimation methodologies today than they have been in the past."
Maybe so, but even if
the decreases in reserves are perfectly justifiable, there are still problems
with this common industry practice. Besides cutting reserves to the core,
banks "are increasing the cyclicality of earnings," says Richard Bove, a
banking analyst at Punk, Ziegel & Co. "When bad times come, you know they are
going to be increasing the size of the reserves." Already, Citi's Krawcheck
has warned analysts not to expect substantial reductions in provisions in the
future.
Continued in the article
Bob Jensen's threads on banking
misdeeds are at
http://www.trinity.edu/rjensen/fraudrotten.htm
March 16 --- Happy St. Urho Day
Some say the truth is stranger than fiction. They
obviously have never heard about St. Urho, (pronounced oorlho) the patron
''saint'' of Finland. Not to be outdone by St. Patrick's Day celebrations on
March 17, St. Urho's Day is celebrated the day before, giving participants an
additional 24 hours to pursue the fun. While cynics may claim the holiday is
bogus, most folks good-naturedly join in the festivities. Although St. Urho's
Day originated in Minnesota, every state in the union recognizes St. Urho's
Day. As with most legends, the origins of St. Urho's Day are unclear, and
details of his reputed heroics freely change in the telling. There is a
traditional story and more modern versions, but by most accounts, the holiday
has been celebrated for only about 50 years. To add ''authenticity'' to the
tale, a statue of St. Urho stands in Menahga, Minn. He holds a pitchfork with a
giant grasshopper impaled in its tines and a plaque below recounts this bizarre
folk tale: A long, long time ago, before the last glacial period when the
climate was warmer, wild grapes grew in profusion in the country known as
Finland. Archaeologists made this discovery by studying scratches on the bones
of giant bears that once roamed Northern Europe. The Finnish farmers were
threatened by a plague of grasshoppers Our brave young hero, St. Urho, came to
the rescue, waved his pitchfork and in a loud, threatening voice, commanded the
grasshoppers, ''Heinasirkka, heinasirkka, menetaalta hiiten'' which in English
loosely translates to ''Grasshopper, grasshopper, get outta here, now.'' And
like St. Patrick, who is credited with driving the snakes out of Ireland, St.
Urho banished the grasshoppers from the vineyards of Finland and saved the
country from ruin.
Kathy Antoniotti "St. Urho Day, fact or fiction," McCall.com, March 14,
2005 ---
http://snipurl.com/StUrho
Some college songs to sing on St. Orho Day
"March Madness," by Mark J. Drozdowski, March 11, 2005 ---
http://www.insidehighered.com/views/march_madness
I also noticed that some songs reference other
schools. Penn mentions Harvard's and Yale's colors, while neighboring
Swarthmore, in its memorable "Hip, Hip, Hip, for Old Swarthmore," adds Cornell
and Haverford to the mix. Lafayette promises to "dig Lehigh's grave both wide
and deep, wide and deep," and "put tombstones at her head and feet, head and
feet." But Illinois manages to offend the most with this ballad:
Don't send my boy
to Harvard, a dying mother said,
Don't send my boy to Michigan, I'd rather he were dead.
But send my boy to Illinois, 'tis better than Cornell,
and rather than Chicago, I would see my boy in hell.
Many songs reveal their age. Cal Tech implores its
football team to "smash the line of our old enemy," yet no longer fields a
football team. The only things they smash these days are atoms. Harvard
students still play "Ten Thousand Men of Harvard" even though the
university now enrolls more women than men.
The Academic Bill of Rights Poster Child Can't Be Found
A criminology course at the University of Northern
Colorado is the setting for one of David Horowitz's favorite stories. As he
tells it, a required essay on a mid-term exam was for students to "explain
why George Bush is a war criminal." A student submitted an essay on why Saddam
Hussein was a war criminal and she received an F. But a number of blogs and
columns have noted in recent days that neither the student nor the professor can
be found. Links set up from Horowitz's writings on the subject to Colorado
legislative hearings where he says the incident was discussed feature no
discussion of the incident. Mano Singham, director of Case Western Reserve
University's Center for Innovation in Teaching and Education, spent some trying
to track down the course and the student, and
wrote about the experience for The Plain Dealer, finding no evidence of any
such incident at the university in question or in Colorado legislative records.
"So does this mysterious professor actually exist? Did this incident actually
happen? It is hard to say no for certain, since that involves proving a
negative. But there are some characteristics of urban legends that this story
shares, in particular the absence of details (names, places, dates) that enable
one to pin it down to anything concrete," Singham wrote. "Given that Horowitz
and his group have shown no scruples in the past about naming people in academia
that they dislike, their sudden coyness in this particular case is a little
surprising." Many professors believe that the "Academic Bill of Rights,"
proposed by Horowitz and his supporters in many state legislatures, would
encourage harassment of professors and monitoring of their views. But Horowitz
has repeatedly justified the legislation by pointing to examples -- like the
alleged Northern Colorado student -- to say that legislation is needed. A good
compilation
of the online discussions and evidence in the case was posted Friday on the blog
Cliopatria by Jonathan Dresner, an assistant professor of East Asian history at
the University of Hawaii at Hilo. Dresner found it "particularly odd" that
"Horowitz's own site has links which appear to be citations but which go to
hearings in which the testimony in question clearly doesn't appear."
Scott Jaschik, "The Poster Child Who Can't Be Found," Inside Higher Ed,
March 14, 2005 ---
http://www.insidehighered.com/insider/the_poster_child_who_can_t_be_found
Because while a Northern Colorado spokeswoman
acknowledged Monday that a complaint had been filed, she also said that the test
question was not the one described by Horowitz, the grade was not an F, and
there were clearly non-political reasons for whatever grade was given. And the
professor who has been held up as an example of out-of-control liberal
academics? In an interview last night, he said that he's a registered
Republican. In addition, the university was able to directly refute other
statements made by Horowitz supporters. For instance, Students for Academic
Freedom, a group that backs Horowitz, on Monday posted an articleon its Web site
(which was then widely posted by conservatives on other Web sites) with the
headline "University of Northern Colorado Story Confirmed." The article, among
other things, said that the professor in the course had been unable to produce
any copies of the test questions. But the university has had the test the entire
time -- and the question isn't the way it has been described by Horowitz.
Scott Jaschik, "Tattered Poster Child," Inside Higher Ed, March 15, 2005 ---
http://www.insidehighered.com/insider/tattered_poster_child
APR (Academic Performance Rate)
Just another NCAA sham that allows big-bucks schools to ignore top athlete
scholarship
We should perhaps celebrate any change in popular
culture that appears to support academic success, even if the motives of the
NCAA focus more on commercial viability than academic integrity. At the same
time, we should always recognize the fundamental conflict that exists between
the all-too-human demand for competitive sports excellence that drives the NCAA
and the less visible and less intense requirement that our students be students,
even when they serve athletics, a concern of faculty and many other observers.
Some institutions, more interested in the competition than the student, will
likely find ways to evade much of this legislation through soft courses and
majors, overly zealous academic advising and similar maneuvers. At the same
time, a few of the semi-pro players in high school may decide that they should
skip the collegiate experience altogether. One thing is for sure, the NCAA
franchising operation will continue its highly compensated, cautious and
commercially successful management of the entertainment quality of the college
sports enterprise, and the academics will find a way to adjust.
John V. Lombardi, "Reality Check," Inside Higher Ed, March 14, 2005 ---
http://www.insidehighered.com/views/reality_check__3
Now if we could only have the same success in the male NFL, NBA, NHL, and
professional baseball.
But even as they increasingly look to play in the WNBA,
college women tend to view professional basketball not as a final destination,
but as one component of a life that will continue beyond the court. It doesn't
pay big, so many female athletes play for the love of the sport and as a way to
fund graduate or medical school.
Amy Merrick, "Stepping Stone," The Wall Street Journal, March 14, 2005;
Page R8 ---
http://online.wsj.com/article/0,,SB111038775601474739,00.html?mod=todays_us_the_journal_report
An 83-year history project at Princeton University
In 1943, Princeton University decided to publish the
complete papers of Thomas Jefferson. Compiling his notes and letters in
chronological order and publishing them in bound volumes, the Papers of Thomas
Jefferson project now is up to Jefferson's 1801 inauguration, with eight years
of his presidency and 25 years of his life still ahead. The project is taking
so long that Monticello, Jefferson's Virginia estate, has taken over editing the
papers from the third president's retirement years. Still, the two teams say
they won't wrap up the project until perhaps 2026, taking 83 years, which is as
long as Jefferson lived . . . It certainly wasn't supposed to take this long. A
congressional commission, at the height of World War II, proposed publishing
Jefferson's papers and hired Julian Boyd, a Princeton historian, as the first
editor. Mr. Boyd, who brought the project to New Jersey, predicted it would take
15 or 20 years. But "he had no idea how many documents would be assembled" --
70,000 photocopies from 900 libraries and collections, says Barbara Oberg, the
current editor, who arrived seven years ago in the middle of Vol. 28, just as
the project was reaching the end of Jefferson's term as secretary of state.
June Kronholz, "Why a Life's Work Is Taking Princeton So Long to Document:
Unfinished Jefferson Project Is Now in Its 63rd Year; Yale's Ben Franklin Slog,"
The Wall Street Journal, March 15, 2005; Page A1---
http://online.wsj.com/article/0,,SB111085059678779477,00.html?mod=todays_us_page_one
Bye Bye Hank!
At the helm of American International Group Inc.,
Maurice Greenberg was under mounting pressure. Regulators were applying
increasing heat over a transaction AIG did with a unit of Warren Buffett's
Berkshire Hathaway Inc., a deal they considered possibly misleading to AIG
investors. Mr. Greenberg, known as Hank, resisted the pressure with the same
tenacity he displayed in nearly four decades running what has become the world's
largest insurer. But then, in the past week, came the tipping point. The
regulators -- relying on nearly 1,000 pages of e-mails and phone-call records --
gave AIG's independent directors an analysis providing new details of the deal
and Mr. Greenberg's role in it. And some of that was in conflict with or missing
from his statements on the matter.
Monica Langley and Theo Francis, "How Investigations of AIG Led To Retirement of
Longtime CEO: Spitzer's and SEC's Close Look At Big Trove of Documents Put
Pressure on the Chief Greenberg: 'I'll Get Going Now'," The Wall Street
Journal, March 15, 2005; Page A1 ---
http://online.wsj.com/article/0,,SB111084108330679173,00.html?mod=todays_us_page_one
Also from The New York Times --- •
Video: The Times's Gretchen Morgenson
How did AIG use insurance contracts to sell accounting fraud?
Steven Gluckstern and Michael Palm figured out how to
minimize insurers' risk and give customers an accounting edge and a tax break:
Multiyear contracts in which the premiums covered most if not all of the
potential losses -- but refunded much of the unclaimed money at the end of the
contract. Buyers loved the policies because they could offset losses with
loan-like proceeds without disclosing liabilities that would muddy their bottom
lines. And the premiums were tax deductible. Such policies became among the
industry's hottest products. Now, two decades later, they are the focus of
multiple state and federal investigations into companies suspected of using them
to manipulate earnings. And this week, those probes helped topple Mr. Greenberg
as chief executive, although he will remain chairman. His company sold one
policy later declared a sham by federal authorities and itself bought another --
now the focus of intense scrutiny -- from Berkshire Hathaway Inc., where Messrs.
Gluckstern and Palm got their start. "If used improperly, these contracts can
enable a company to conceal the bottom-line impact of a loss and thus
misrepresent its financial results," says the Securities and Exchange
Commission's Mark Schonfeld, who is overseeing the agency's probe of such
policies as the head of its Northeast office.
Ianthe Jeanne Dugan and Theo Francis, "How a Hot Insurance Product Burned AIG:
An Unlikely Duo's New Approach Called 'Finite Risk Insurance' Was a Hit -- Until
Inquiries Began," The Wall Street Journal, March 15, 2005; Page C1 ---
http://online.wsj.com/article/0,,SB111084339061279243,00.html?mod=todays_us_money_and_investing
Bob Jensen's threads on "rotten to the core" insurance rackets can be found at
http://www.trinity.edu/rjensen/fraudrotten.htm#MutualFunds
Symptoms include "excessive and sometimes fraudulent risks
Add to the growing number of recently diagnosed
diseases in America the Icarus Syndrome. This malady, discovered by a law
professor, is said to affect corporations in particular. The symptoms include
"excessive and sometimes fraudulent risks." The disease has attacked corporate
America not only in our own scandal-plagued times but, it seems, since about
1873. Icarus in the Boardroom (Oxford University Press, 250 pages, $25)
is an attempt to alert public-health officials, so to speak, to the dangers of
this contagion. David Skeel, a professor of law at the University of
Pennsylvania, labels all sorts of apparently admirable traits --
"self-confidence, visionary insight, the ability to think outside the box" -- as
potential Icaran qualities, full of danger. They "may spur entrepreneurs to take
misguided risks," he writes, "in the belief that everything they touch will
eventually turn to gold." Fortunately, he offers a number of cures, ranging from
small doses of regulation to massive doses of regulation. And little wonder.
What is most interesting about "Icarus in the Boardroom" is the vast divide it
reveals -- between American lawyers who study corporations and, well, everybody
else. Following common sense and economic logic, most people view corporate
risk-taking and corporate fraud as different things: Fraud involves lying;
risk-taking does not. As in the case of Enron and WorldCom, fraudulent
executives often misstate how much risk their investors will assume. For
academic lawyers such as Mr. Skeel, however, it seems that risk-taking and fraud
are points on a continuum. Risk-taking quickly fades into "excessive"
risk-taking, which then morphs into fraud. Mr. Skeel never says just how we are
to distinguish acceptable risks from the excessive and fraudulent kind.
Apparently, though, lawmakers and regulators will figure out a formula, for it
falls to them, in Mr. Skeel's view, "to prevent risk-taking that edges toward
market manipulation or fraud."
Jonathan R. Macey, "A Risky Proposition," The Wall Street Journal, March
15, 2005; Page D8 ---
http://online.wsj.com/article/0,,SB111083993718979142,00.html?mod=todays_us_personal_journal
Bob Jensen's "Rotten to the Core" threads are at
http://www.trinity.edu/rjensen/fraudrotten.htm
I think Philip Bennett should move to China and try out that nation's free
speech and democratic realities
"I don't think US should be the leader of the world . . .
I think China is the best place in the world to be an American journalist right
now." Philip Bennett, Editor of Washington Post ---
http://english.peopledaily.com.cn/200503/10/print20050310_176350.html
The People's Daily, the official newspaper of
the Chinese communist dictatorship, announced today that it would merge with the
Washington Post, to publish "an accurate newspaper of global significance
called The Wa-Po Daily." Washington Post Managing Editor Philip
Bennett will oversee news-gathering operations for The Wa-Po Daily, under
the guidance of "an unnamed committee of Chinese truth advocates." The first
hints of the media marriage emerged from an interview Mr. Bennett granted to
People's Daily correspondent Yong Tang, in which the veteran American
newsman drew no moral distinction between the Chinese and American expressions
of democracy and accused the Bush administration of lying and limiting freedom
of the press.
Scott Ott, "Chinese Daily-Washington Post Merger Boosts Credibility,"
Scrapple Face, March 14, 2005 ---
http://www.scrappleface.com/MT/archives/002112.html
China's Communist Party maintains its monopoly on
political power by delivering benefits to its 1.3 billion people, in line with
governments worldwide. It also guards its turf jealously by ensuring that
watchful party officials sit in every corner of society deemed a potential
threat to that monopoly. This entails everything from "officially sanctioned"
religious organizations and political parties to sports groups, chambers of
commerce, university departments and farm collectives. Groups viewed as a
threat are quickly batted down, as seen with official crackdowns on Tibetan
monks, Falun Gong practitioners, separatist Muslims in the country's west and
Internet essayists. A recently published list of banned gatherings, which
included an amateur singing club, a pigeon lovers group and a dozen people
holding a ceremony to bless a new building, shows how jittery the party can be.
Police, cybercops and vaguely worded national security laws are among the
bluntest weapons in the party's arsenal. At least as effective are the demotions
and other subtle threats that engender self-censorship. Communist leaders have
read their history and are well aware that as least as many Chinese dynasties
have fallen to internal rot, complacency and corruption as to barbarian threats
beyond the Great Wall. That's where the Hu and Wen campaign for enhanced
discipline comes in. With 68 million members, or an all-time high of 5.2% of
China's population, the Communist Party is bloated and increasingly unfocused.
Mark Magnier, "Flip Side to Fame in China," Los Angeles Times, March 14,
2005 ---
http://snipurl.com/ChinaMarch14
Question
What is the latest, often illegal, craze on campus?
Answer
Serious Gambling
For Michael Sandberg, it started a few years ago with
nickel-and-dime games among friends. But last fall, he says, it became the
source of a six-figure income and an alternative to law school.Mr. Sandberg's is
an extreme example of a gambling revolution on the nation's college campuses.
Mr. Sandberg calls it an explosion, one spurred by televised poker championships
and a proliferation of Web sites that offer online poker games. Experts say the
evidence of gambling's popularity on campus is hard to miss. In December, for
example, a sorority at Columbia held its first, 80-player poker tournament with
a $10 buy-in, a minimum amount required to play, while the University of North
Carolina held its first tournament, a 175-player competition, in October. Both
games filled up and had waiting lists. At the University of Pennsylvania,
private games are advertised every night in a campus e-mail list.
Jonathan Cheng, "Ante Up at Dear Old Princeton: Online Poker Is a Campus Draw,"
The New York Times, March 14, 2005 ---
http://snipurl.com/CampusGambling
The Great Game
This analysis of chess history synthesized in my mind with my extensive
experience of playing against computers. For over 50 years, back to the earliest
days of computing, chess has been recognized as a unique cognitive battleground.
The world watched my matches with "Deep Blue," "Fritz," and "Junior" as
man-versus-machine competitions and a way to see how computers "think." To me
they were also helpful in revealing how humans make decisions. These computers
looked at millions of positions per second, weighing each one to find the
mathematically best moves. And yet a human, seeing just two or three positions
per second, but guided by intuition and experience, could compete with the
mighty machines. The nature of the decision-making process is little explored
and I have become fascinated with the possibility of using my expertise to
illuminate these questions. I am currently working on a book on how life
imitates chess, that will be released this fall in America by Penguin. It
examines the unique formulae people use in thinking and problem-solving. For
example, the way hope and doubt affect how we process information, or the way we
perform in a crisis. I hope it will also serve as a guide to improving these
processes. Over the past several years I have made a number of speeches on the
topic of chess themes in life, particularly in business thinking and strategy.
The response has been overwhelming and enlightening and I am extracting a number
of valuable parallels. For example: the difference between tactics and strategy;
how to train your intuition; and maintaining creativity in an era of analysis.
In particular, the topic of intuition is intriguing. When I analyzed a 1894
world championship game between Lasker and Wilhelm Steinitz, I also looked at
their post-game analysis and the comments of other top players of the day. They
all made more mistakes in analysis than the players had made during the game!
The intuitive decisions of the players during the game were correct in most
cases, and more often so than when they had all the time in the world to analyze
later.
Gary Kasparov, "The Great Game," The Wall Street Journal, March 14,
2005; Page A16 ---
http://online.wsj.com/article/0,,SB111076463398178318,00.html?mod=opinion&ojcontent=otep
I believe my talents and experience can be useful in
the political realm. There is something to be said for a chess player's ability
to see the whole board. Many politicians are so focused on one problem, or a
single aspect of a problem, that they remain unaware that solving it may require
action on something that appears unrelated. It is natural for a chess player, by
contrast, to look at the big picture. Zbigniew Brzezinski recently wrote on
geopolitics as "The Grand Chessboard" and the analogy persists in many ways.
There is no single solution to a chess game; you must consider every factor to
produce a complete strategic solution. Like everyone, I am dismayed by the long
list of problems facing the world today. I am more concerned about the even
longer list of proposed solutions and how many of them are considered by their
proponents to be exclusive. Instead of looking at the whole board, they are
focusing too narrowly and as a result devise narrow solutions. Our leaders must
be able to think more ambitiously.
Gary Kasparov, "The Great Game," The Wall Street Journal, March 14, 2005; Page
A16 ---
http://online.wsj.com/article/0,,SB111076463398178318,00.html?mod=opinion&ojcontent=otep
Number of people who read the paper online now surpasses the number who
buy the print edition
Consumers are willing to spend millions of dollars on
the Web when it comes to music services like
iTunes and gaming sites like Xbox Live. But when it comes to online news,
they are happy to read it but loath to pay for it. Newspaper Web sites have
been so popular that at some newspapers, including The
New York Times, the number of people who read the paper online now surpasses
the number who buy the print edition. This migration of readers is beginning to
transform the newspaper industry. Advertising revenue from online sites is
booming and, while it accounts for only 2 percent or 3 percent of most
newspapers' overall revenues, it is the fastest-growing source of revenue. And
newspaper executives are watching anxiously as the number of online readers
grows while the number of print readers declines.
Katherine Q. Seelye, "Can Papers End the Free Ride Online?" The New York
Times, March 14, 2005 ---
http://www.nytimes.com/2005/03/14/business/media/14paper.html?
Bush administration's gradual, flexible strategy for reconstructing
Afghanistan
One man's journey from feared warlord to bland
bureaucrat illustrates how the U.S. has adopted a gradual, flexible strategy for
reconstructing Afghanistan since ousting the Taliban government in 2001. Mr.
Khan has made the journey from feared warlord to bland bureaucrat thanks to the
Bush administration's gradual, flexible strategy for reconstructing Afghanistan
since ousting the Taliban government in 2001. Rather than trying to force
radical change overnight, the U.S. has been patient. It has avoided
confrontations with tribal elders and warlords -- letting them until recently
keep their private militias and weapons and even paying the salaries of their
fighters -- while building a credible central government in Kabul. The strategy
has meant that reconstruction here slogs ahead at a slow pace. But it has also
helped contain support for the insurgency still being waged by remnants of the
Taliban and al Qaeda.
David S. Cloud, "Afghan Warlords Slowly Come In From the Cold," The Wall
Street Journal, March 14, 2005, Page A1 ---
http://online.wsj.com/article/0,,SB111077025608878404,00.html?mod=todays_us_page_one
Jensen Comment: Now if we could only think of a way for Afghans to make a
sustainable living outside of opium production.
Fraudulent Health Clinics and Doctors: What happened to ethics?
A group of health clinics and doctors paid thousands of
people across the U.S. to undergo unnecessary surgery so they could defraud
insurers out of tens of millions of dollars, a lawsuit alleges. Twelve Blue
Cross and Blue Shield health-insurance plans sued a group of Southern California
health-care clinics, physicians and others they say are involved in the
elaborate scheme. The scope of the alleged fraud is vast. The insurers claim
the clinics paid recruiters to enlist patients in 47 states, then transported
the people to California where they underwent unnecessary and sometimes
dangerous outpatient procedures.
"Blue Cross Groups Sue Clinics, Doctors, Claiming Insurance Fraud," The Wall
Street Journal, March 14, 2005; Page B4 ---
http://online.wsj.com/article/0,,SB111076460482378314,00.html?mod=todays_us_marketplace
Bob Jensen's threads on medical and drug company frauds are at
http://www.trinity.edu/rjensen/FraudReporting.htm#PhysiciansAndDrugCompanies
Amazon Pays $27.5 Million To Settle Securities Suit
Amazon.com Inc. disclosed Friday it has agreed to pay
$27.5 million to settle an investor lawsuit alleging securities violations by
its officers and directors. According to its annual report filed with the
Securities and Exchange Commission, the Seattle-based Internet retailer said it
reached a settlement with plaintiffs lawyers in March. The company expects most,
if not all, of the settlement will funded by its insurers. The complaint was
filed by stock and bond holders in August 2003. It alleges that Amazon officers
and directors made false or misleading statements from Oct. 29, 1998, through
Oct. 23, 2001, about the company's business, financial condition and future
prospects, among other things.
"Amazon Pays $27.5 Million To Settle Securities Suit," The Wall Street
Journal, March 14, 2005, Page B9 ---
http://online.wsj.com/article/0,,SB111054778856777083,00.html?mod=todays_us_marketplace
So which is it? Highly sensitive to the value of the dollar, or not?
Many economic commentators argue that the trade deficit somehow results from low
saving and the federal budget deficit. But reducing the budget deficit can't
really help the trade deficit. To shrink the budget deficit, the government must
either spend less or tax more, withdrawing demand from the U.S. economy.
Purchases of all goods, foreign and domestic, would fall. Since imports make up
only about 15% of GDP, the biggest decline of purchases would be domestic,
resulting in only a marginal decline in imports relative to the drop in GDP.
Trying to increase household saving (i.e., reduce consumer spending) would help
no more. To meaningfully lessen the trade deficit by saving, Americans would
need to focus their spending reductions specifically on foreign goods -- highly
unlikely in a nation with 85% of its spending on domestic goods and services.
Nor does the dollar need to fall -- and the trade deficit doesn't necessarily
fall when the dollar does. Analysts who criticize low saving and the budget gap
also often admit the dollar is undervalued in purchasing power, yet they say it
must fall further to alleviate the trade deficit. But for a weak dollar to have
any impact on imports, the amount of imports must fall by more than the dollar
does. If the dollar falls by 20% and the number of goods imported falls by 20%,
the sum of dollars sent abroad remains the same: Americans purchase fewer
imported goods, but spend more on the ones they do buy. Not one new U.S. job is
created, while prices rise for American consumers and businesses. Oddly, if
demand for imports is relatively inflexible, the trade deficit actually
increases with a weaker dollar; Americans just pay more for the same goods.
Unless imports fall disproportionately more than the dollar (or exports rise), a
lower exchange rate will help neither our trade deficit nor our employment.
Increased exports do help both the trade deficit and U.S. employment, but a
weaker dollar is a mixed blessing for U.S. exporters. While it makes completed
American goods cost less abroad, the cost of production may rise when they
include foreign parts or materials. Stronger Asian currencies would be no more
likely to significantly reduce the trade deficit, given the large differences in
wage costs. American manufacturers might find that a 20% decline in the dollar
wouldn't lead them to switch purchase of parts from Asian to U.S. suppliers, if
the ones from Asia cost 40% less today. The cost of U.S. imports, and U.S.
exports using those same parts, would just rise. The key question is how much
aggregate purchases of both U.S. imports and exports might change with the
dollar. If imports fall in pace with the dollar and exports rise, the trade
deficit would shrink with a lower dollar. But if purchases are less elastic --
if people and businesses continue to buy roughly the same amounts of foreign
goods and services even as dollar prices change -- the trade deficit could
actually be reduced by a stronger dollar.
So which is it? Highly sensitive to the value of the
dollar, or not? Not -- at least not enough.
Frank and Dan Newman, "Trade Deficit Trickery," The Wall Street Journal,
March 14, 2005; Page A17 ---
http://online.wsj.com/article/0,,SB111076511677178324,00.html?mod=opinion&ojcontent=otep
Written at an introductory and somewhat humorous level
A BRIEF HISTORY OF ECONOMICS: Artful Approaches to the Dismal Science
by E Ray Canterbery (Florida State University) ---
http://www.worldscibooks.com/economics/4079.html
A Brief History of Economics
illustrates how the ideas of the great economists not only influenced
societies but were themselves shaped by their cultural milieu. Understanding
the economists' visions — lucidly and vividly unveiled by Canterbery — allows
readers to place economics within a broader community of ideas. Magically, the
author links Adam Smith to Isaac Newton's idea of an orderly universe, F Scott
Fitzgerald's The Great Gatsby to Thorstein Veblen, John Steinbeck's
Grapes of Wrath to the Great Depression, and Tom Wolfe's The Bonfire of
the Vanities to Reaganomics.
Often humorous, Canterbery's easy style will make the
student's first foray into economics lively and relevant. Readers will dismiss
"dismal" from the science.
Contents:
- Feudalism and the Evolution of Economic Society
- Adam Smith's Great Vision
- Bentham and Malthus: The Hedonist and the "Pastor"
- The Distribution of Income: Ricardo versus Malthus
- The Cold Water of Poverty and the Heat of John
Stuart Mill's Passions
- Karl Marx
- Alfred Marshall: The Great Victorian
- Thorstein Veblen Takes on the American Captains of
Industry
- The Jazz Age: Aftermath of War and Prelude to
Depression
- John Maynard Keynes and the Great Depression
- The Many Modern Keynesians
- The Monetarists and the New Classicals Deepen the
Counterrevolution
- Economic Growth and Technology: Schumpeter and
Capitalism's Motion
- The Many Faces of Capitalism: Galbraith,
Heilbroner, and the Institutionalists
- The Rise of the Casino Economy
- The Global Economy
- Climbing the Economist's Mountain to High Theory
- The Future of Economics
This is a more technical and humorless introduction to economics
ECONOMICS WITH CALCULUS by Michael C Lovell (Wesleyan University,
USA) ---
http://www.worldscibooks.com/economics/5523.html
This textbook provides a calculus-based introduction
to economics. Students blessed with a working knowledge of the calculus will
find that this text facilitates their study of the basic analytical framework
of economics. The textbook examines a wide range of micro and macro topics,
including prices and markets, equity versus efficiency, Rawls versus Bentham,
accounting and the theory of the firm, optimal lot size and just in time,
monopoly and competition, exchange rates and the balance of payments,
inflation and unemployment, fiscal and monetary policy, IS-LM analysis,
aggregate demand and supply, speculation and rational expectations, growth and
development, exhaustible resources and over-fishing. While the content is
similar to that of conventional introductory economics textbook, the
assumption that the reader knows and enjoys the calculus distinguishes this
book from the traditional text.
Contents:
- Production Possibilities
- Supply and Demand: Where do Prices come from?
- Maximizing Satisfaction
- The Business Enterprise: Theory of the Firm
- Market Structure
- Distribution: Who Gets What?
- Monitoring Economic Performance
- GDP Accounting and the Multiplier
- Money, Prices and Output
- Dynamics, Expectations and Inflation
- Growth and Development
The Capital Structure Conundrum
FOCUS ON FINANCIAL MANAGEMENT by Ivan K Cohen (Richmond University, UK)
Focus on Financial Management
by Ivan Cohen offers a concise, enthusiastic and highly focused approach to
introducing finance to both undergraduates and MBAs. It closely integrates
practical applications and the underlying financial concepts so that the
reader gets a clear picture of theory and how it can be applied in practice.
The book has been carefully crafted and
classroom-tested to provide an easy-to-read textbook that will engage the
student and instructor alike. It has been designed to be used by students of
business, finance and economics, and is equally accessible to students in
other areas, such as engineering. It requires no preliminary knowledge of
finance.
Contents:
- Introducing Finance
- The Financial Environment
- Value: Finance Foundations
- Sources of Finance: Debt
- Sources of Finance: Equity
- Investment Appraisal: Capital Budgeting,
Investment Appraisal: Risk
- The Cost of Capital
- The Capital Structure Conundrum
- Extending the Focus: Some Applications
I think Harvard overreacted
At 12:15 a.m. on Wednesday, March 2, a visitor to an
online forum posted instructions for exploiting some sloppy Web page coding at
ApplyYourself.com, a company based in Fairfax, Va., that, among other things,
handles applications for some of the country's most elite business schools,
including Harvard Business School. "I know everyone is getting more and more
anxious to check status of their apps to HBS, given their black box," wrote the
individual, known only as "brookbond," referring to applications to Harvard
Business School. Harvard's decisions are to go out on March 30. "So I looked
around their site and found a way. Here are the steps." Precisely 119 Harvard
applicants followed those steps, which required them to log in to their
application accounts with the school and, using some creative copying and
pasting from the Web page's source code (something any Web surfer is free to
do), create an address that would access their application decision - if one had
been made. About 100 applicants to other business schools at M.I.T., Carnegie
Mellon, Stanford, Dartmouth and Duke, which also use the ApplyYourself.com
service, made use of the recipe as well. Some applicants saw rejection letters.
Others saw nothing. . . . But many online commenters (NYT spelling
error) thought the ethics of the incident were more
nuanced. "I might feel differently if I knew that the applicants were aware
that they were breaking the rules," Edward W. Felten, a professor of computer
science at Princeton University, wrote in his Web log. "But I'm not sure that an
applicant, on being told that his letter was already on the Web and could be
accessed by constructing a particular U.R.L., would necessarily conclude that
accessing it was against the rules." . . . Mr. Henderson is still awaiting word
from a couple of other schools and, in the meantime, has poured his disdain for
Harvard into a line of T-shirts that seek to "Free the HBS 119." He said three
of the shirts had been sold as of Saturday.
Tom Zeller Jr., "Not Yet in Business School, and Already Flunking Ethics,"
The New York Times, March 14, 2005 ---
http://www.nytimes.com/2005/03/14/technology/14harvard.html
Bad PR for the UAW: The union should worry more about
similar behavior of its own members
The UAW no longer will allow Marine reservists who work
out of a base in Detroit to park at the Solidarity House lot if they have
foreign cars or display pro-Bush bumper stickers. Marines driven out of UAW lot
The union says Marines in foreign cars, displaying Bush stickers unwelcome. By
Eric Mayne / The Detroit News Comment on this story Send this story to a friend
Get Home Delivery DETROIT -- The United Auto Workers says Marine reservists
should show a little more semper fi if they want to use the union's parking lot.
The Marine Corps motto means "always faithful," but the union says some
reservists working out of a base on Jefferson Avenue in Detroit have been
decidedly unfaithful to their fellow Americans by driving import cars and
trucks. So the UAW International will no longer allow members of the 1st
Battalion 24th Marines to park at Solidarity House if they are driving foreign
cars or displaying pro-President Bush bumper stickers.
Free Republic, March 14, 2005 ---
http://www.freerepublic.com/focus/f-news/1362379/posts
While we are at war, I think this is bad PR to deny marines what would otherwise
be a courtesy if they just drove American cars (which probably has over 50%
foreign components anyway). Besides, some "foreign" vehicles like Toyota trucks
are built in both the U.S. and Japan.
Update on March 16, 2005
Facing intense criticism, UAW President Ron
Gettelfinger reversed his decision to ban Marine Corps reservists driving
foreign cars or displaying pro-President Bush bumper stickers from parking at
the union's Solidarity House headquarters in Detroit. "I made the wrong call on
the parking issue, and I have notified the Marine Corps that all reservists are
welcome to park at Solidarity House as they have for the past 10 years,"
Gettelfinger said in a statement.
"Marines snub UAW olive branch: Reservists will park elsewhere, although union
admits mistake banning nonunion cars, Bush stickers," Detroit News, March 16,
2005 ---
http://www.detnews.com/2005/autosinsider/0503/15/A01-117640.htm
If the national mental illness of the
United States is megalomania, that of Canada is paranoid schizophrenia.
Margaret Atwood, Canadian writer as quoted by Matt Labash in "Welcome to
Canada," The Great White Waste of Time, 03/21/2005, Volume 010, Issue 25
---
http://weeklystandard.com/Content/Public/Articles/000/000/005/349tpijp.asp
The prospects of oil prices dropping
back below $40 per barrel now appear to be running neck and neck with Michael
Jackson getting Babysitter of The Year Award. Delta Air Lines, which up until
this latest spurt in fuel prices was heading out of the financial woods, has
warned that it may not have sufficient liquidity to meet its needs in 2005.
Translating that: they're running out of cash. Reason: skyrocketing fuel costs
are draining the airline's coffers. Fast. Delta is just the first to sound the
alarm.
The Boyd Group, March 14, 2005 ---
http://www.aviationplanning.com/asrc1.htm
The Bush Train Wreck
One of my favorite George Bush malapropisms is from the 2000 election
campaign: "They have miscalculated me as a leader." He meant, of course, that
people had miscalculated if they thought he was not a leader.The president's
difficulties with off-the-cuff speech have led to all sorts of assumptions about
his intellectual confusion and worse. But there is nothing confused about this
president's agenda. At this point in his presidency, he has fielded the most
focused agenda in modern times, to great effect. His success rate in major
policy activities is nothing less than astounding. No wonder he has never
vetoed...
Bryan D. Jones, "The Bush Train Wreck," The Seattle Times, March 13, 2005
---
http://seattletimes.nwsource.com/html/opinion/2002205731_sundaybryan13.html
By distributing adult films, corporations like DirecTV and
Marriott essentially pay porn actors to have sex
The accused Upper East Side madam says she should get a
slide — because big companies promote prostitution all the time and are never
prosecuted. By distributing adult films, corporations like DirecTV and Marriott
essentially pay porn actors to have sex, no less so than a pimp or madam pays a
prostitute to have sex with a john, the millionaire reasons. If those companies
aren't prosecuted, she says, neither should she be. The legal argument has been
filed on behalf of Jenny Paulino, 44, arrested in December after a raid on her
alleged American Beauties escort service and brothel at...
Laura Italiano, "Alleged Madam's 'Firm' Defense," The New York Post,
March 14, 2005 ---
http://www.nypost.com/news/regionalnews/41079.htm
Setting a bad example for its students: Plagiarized from Alabama A&M
University
A federal judge on Friday blocked the Southern
Association of Colleges and Schools from revoking the accreditation of Edward
Waters College while the institution pursues a due process lawsuit against the
association. In December, the regional accrediting group said that it had
revoked the Florida college's accreditation, citing documents Edward Waters
officials had submitted to the association that appeared to have been
plagiarized from Alabama A&M University, another historically black institution.
Doug Lederman, "Staying Alive," Inside Higher Ed, March 14, 2005 ---
http://www.insidehighered.com/insider/staying_alive
Bob Jensen's threads on plagiarism are at
http://www.trinity.edu/rjensen/plagiarism.htm
The Arab press makes more sense sometimes than the European
press
However, it is unfathomable to think that the Pentagon
would have ordered a deliberate assassination of a Western reporter under such
high-profile circumstances. While the idea of the Italian government funding
the insurgency and further supporting the new cottage industry of kidnapping
runs counter to US policy in Iraq, in this instance the money had apparently
already been paid. In other words, there was nothing to be gained by attacking
the Italian rescue vehicle. And as events have proven, in terms of public
relations and international politics, the Americans stood to lose everything by
doing so since Italy is one of the few European members of US President George
Bush's "coalition of the willing" with a tangible troop commitment of some 3000
soldiers in Iraq. The attack against Sgrena has only re-ignited the strong
anti-war and anti-American sentiments which existed in Italy, and Prime Minister
Berlusconi will be hard-pressed by public protests to bring home the Italian
contingent.
Scott Taylor, "Hostage bungle: Chaos, not conspiracy," Aljazeera, March 10, 2005
---
http://english.aljazeera.net/NR/exeres/9F3D082E-919F-4C0E-AD2E-7541EC22B048.htm
Remember the oil crisis back when Jimmy Carter was president
of the U.S.
The nation has a hidden treasure that could help
Americans painlessly weather the interruption of oil from Iran. It is an
underground cache of 80 million barrels that the Energy Department has been
stowing away in empty salt caverns on the Gulf Coast.
The Wall Street Journal, March 15, 1979
March 17 --- Erin go Braugh
Definitions
http://www.faqfarm.com/Q/What_does_'Erin_go_braugh'_mean
Music ---
http://www.ireland-information.com/irishmusic/eringobragh.shtml
Screen savers ---
http://twilightbridge.ezthemes.com/pcenhance/ss/spotlight.phtml?St.PatricksDay
Games etc. ---
http://groups.msn.com/FriendsofIrishMusicandCraic/stpatricksdaygamestoplay.msnw
When are you justified in lying?
I posed your questions to our ethics professor, Rick
Shreve. He would apply the standards presented in Sissela Bok's book, Lying:
Moral Choice in Public and Private Life and conclude that "Bob's" lies did
not satisfy any of the three criteria that Bok provides for a justifiable lie.
[In brief, they are: A white lie "That's a nice tie you have on today"; a lie in
a setting in which lying is an accepted norm "That's my final offer"; or a
setting in which one could justify physical violence to attain the same ends
that the lie attains.]
Jensen Comment: The above quotation was Richard Sansing's (Dartmouth) email
reply on the AECM to a scenario (too long to print here) involving a lie. "The
name "Bob" is a hypothetical person and has nothing to do with the Bob as in
Jensen. I have a somewhat more legal take on lying. As in most legal disputes,
I apply the test of damages. Who is hurt by the lie and by how much? For
example, suppose a 20-year old student has both a fake ID (for partying
purposes) and a genuine ID (for driving purposes) and that the genuine ID gets
lost on a trip. Using the fake ID to board an aircraft simply to avoid the
delay (and possible ticket cost) of waiting for for a replacement of the lost
genuine ID card benefits the student without any real harm to anybody else if it
is relatively certain no security personnel might be sanctioned (a big if). On
domestic flights at the present time, the chances having to show the ID after
boarding the aircraft are very nearly zero. Of course there is the risk of
getting caught when first showing the fake ID, but this may be a risk the
student feels is justified in these circumstances. Using the fake ID to drink
in a bar, on the other hand, could harm the owner of the bar (e.g., by causing
the loss of a liquor license). Thus lying to simply avoid the cost and delay of
boarding an aircraft differs from lying to drink alcohol. This runs into the
dilemma of the categorical imperative of Kant's moral order on whether the
justification in the case of one student boarding an aircraft at one time should
extended to universal law for all travelers. Clearly a universal law justifying
commonplace fake IDs would be self defeating. And thus I am faced with a
dilemma of rare versus commonplace (universal law) use of fake IDs to board
aircraft merely due to the loss of a genuine ID. There are no simple answers,
but I personally still apply the legal test in a case-by-case situation. I
personally believe in situational ethics. "Who could possibly be hurt in this
instance and by how much?" It's very difficult to apply universal law in all
circumstances. For example, the law "thou shall not kill" in my mind does not
apply in absolutely all circumstances such as in the case of shooting a hostage
taker just prior to his killing of scores of school children. You can read more
about Kant's moral order at
http://www.philosophypages.com/hy/5i.htm
PhDs really are brainier
The brain imaging showed that in older adults taking
memory tests, more years of education were associated with more active frontal
lobes -- the opposite of what happened in young adults. The researchers believe
that education strengthens the ability to "call in the reserves" of mental
prowess found in that part of the brain.
Scott Jaschik, "The Payoff for Those Long Years Earning a Ph.D.," Inside
Higher Ed, March 15, 2005 ---
http://www.insidehighered.com/insider/the_payoff_for_those_long_years_earning_a_ph_d
Most top college basketball players
are not brainier
The Knight panel, which since 1989 has been pushing
changes aimed at restoring integrity to big-time college sports, has proposed
that teams be disqualified from NCAA championship play if they failed to
graduate at least half of their athletes within six years of enrolling. The
panel's study found that 42 of the 65 teams that qualified for this year's
tournament would fail to meet that standard, based on the latest four-year
graduation rates submitted by the institutions -- and many fared much worse.
Twenty of the 65 graduated less than 30 percent of their players, and 11 of 65
graduated less than 20 percent.
Doug Lederman, "March Badness," Inside Higher Ed, March 15, 2005 ---
http://www.insidehighered.com/insider/march_badness
Domestic Partner Benefits Becoming Commonplace in Corporate America
It seems corporate America is more concerned about
recruiting and retaining talented employees than it is about the lifestyle
choices those employees make outside of work. Charlotte Observer reported that
more than 60 percent of the Fortune 100 companies are now offering health
benefits to same-sex couples, even as national debate on the issue rages on.
According to a recent survey conducted by Robert Half Management, 1,400 CFOs,
ranked "recruiting and retaining qualified staff" as the third top priority for
success in 2005, just behind "growing revenue" and "controlling expenses," the
Observer reported. Duke Energy, a conservative utility based in the South,
found that offering domestic partner benefits "has been shown to aid in both
attracting and retaining employees," Duke Chairman and CEO Paul Anderson said in
a news release last week.
"Domestic Partner Benefits Becoming Commonplace in Corporate America,"
AccountingWeb, March 10, 2005 ---
http://www.accountingweb.com/cgi-bin/item.cgi?id=100654
European National Heath: three of four people with high cholesterol were
not receiving a statin
Prof. Oliver Schoeffski, chair for health management at
the University of Erlangen-Nuremberg, found severe undertreatment of many
illnesses across Europe, including in Germany. For instance, three of four
people with high cholesterol were not receiving a statin. According Dr. James
Cleeman, coordinator of the National Cholesterol Educational Program in the
U.S., statins are cost effective even at $100 a month because heart disease
costs "hundreds of billions of dollars." Treatment for high cholesterol
demonstrates how Germany fails to balance lower cost with better treatment. Some
1.8 million Germans take Pfizer's Lipitor, sold there as Sortis. Numerous
studies have demonstrated that Sortis lowers cholesterol and thereby reduces the
risk of heart attacks and strokes, even among high-risk populations suffering
from diabetes and hypertension.
Doug Bandow, "Saving Pfennige, Costing Lives," The Wall Street Journal,
March 16, 2005 ---
http://online.wsj.com/article/0,,SB111092651697380405,00.html?mod=opinion&ojcontent=otep
Europeans Jumping Ship
In fact, more Europeans are now taking the dramatic
step of emigrating than at any time since the 1950s. The Dutch Central Bureau
for Statistics recently produced a study showing that the country was facing a
new problem: mass emigration of white middle-class families. It seems Holland is
losing nearly 50,000 middle-class citizens a year. This Dutch exodus is
mirrored by developments in countries like Germany and France. In Germany,
middle-class emigration has risen by nearly 30% in the past few years, from
100,000 in 2001 to 127,000 in 2003. This "white flight" partly explains why, in
2003, the total German population shrank for the first time since the end of
World War II. The number of French men and women living in the U.K., which is
closer to the American Dream than the European Model, has grown exponentially in
the last decade, from 100,000 registered migrants in the mid-1990s to more than
300,000 last year.
Joshua Livestro, "The Heidi Dream," The Wall Street Journal, March 16, 2005 ---
http://online.wsj.com/article/0,,SB111092673665780414,00.html?mod=opinion&ojcontent=otep
Spring thaw thins the ice for
Harvard's president
After weeks of simmering discontent over the leadership
style of the president of Harvard, Dr. Lawrence H. Summers, the Faculty of Arts
and Sciences will consider a resolution of a lack of confidence in him at its
regular monthly meeting on Tuesday (I think today).
It will also consider a statement expressing the faculty's
regret over Dr. Summers's remarks about women in science at a January
conference, as well as "aspects of the president's managerial approach," which
many faculty members call autocratic and stifling of open discussion. The
statement says that the faculty "appreciates the president's stated intent to
address these issues" and that it intends to be collegial as well as assert its
role in governance . . . Several faculty members said they did not expect the
vote of no confidence to pass. "I think President Summers has shown a great
willingness to think about his leadership style and to try to adapt and take
into account areas where a number of people had some concerns," said Lawrence F.
Katz, a professor of economics and a longtime supporter of Dr. Summers.
Sara Rimer, "Harvard Faculty Voting Tuesday on Confidence in President," The
New York Times, March 15, 2005 ---
http://www.nytimes.com/2005/03/15/education/15harvard.html
Harvard University President Lawrence H. Summers
suffered an unexpected blow to his already rocky tenure last night, as faculty
at the elite institution's largest teaching unit voted in favor of a motion
expressing no confidence in his leadership. During the latest of several such
meetings, Harvard's arts-and-sciences faculty attending voted 218 to 185 in
favor of a resolution stating simply: "The faculty lacks confidence in the
leadership of Lawrence H. Summers." Eighteen faculty members abstained from the
vote. Under university rules, the proposition needed the votes of a majority of
faculty attending the meeting to pass . . . The vote of no confidence, believed
to be the first in Harvard's history, comes at a time when Mr. Summers appeared
to be making headway in his efforts to tamp down the turmoil that erupted in
January after the former Treasury secretary told a conference on work-force
diversity that innate gender differences could help explain why fewer women
achieve high-level academic careers in science and math. Those comments led
presidents of other leading universities to speak out against his views. On
campus, the turmoil quickly spread to involve an array of complaints ranging
from faculty input on major university decisions to Mr. Summers's disputes with
Cornel West, a prominent African-American professor who eventually left Harvard
for Princeton University. The referendum on Mr. Summers's leadership was
largely symbolic, because only the university's governing board, the Harvard
Corporation, has the power to remove the president, and it has issued a
statement of support for him. Members of the secretive board couldn't be reached
for comment, and a Harvard spokesman said the corporation didn't have any
additional comment.
Robert Tomsho and John Hechinger, "Harvard President Is Given a Vote Of No
Confidence," The Wall Street Journal, March 16, 2005; Page A3 ---
http://online.wsj.com/article/0,,SB111091360378480164,00.html?mod=todays_us_page_one
Also see
http://www.nytimes.com/2005/03/16/education/16harvard.html?
Also see
http://www.insidehighered.com/insider/lost_confidence
Liberal faculty versus students at Harvard: Summers Garners Applause At
Mather
Five hours after receiving a stern censure from the
Faculty of Arts and Sciences (FAS), University President Lawrence H. Summers
received a round of applause from undergraduates in Mather House last night.
Summers arrived nearly 30 minutes late to the Mather event, but House Master
Sandra Naddaff nonetheless welcomed the president with open arms, a glass of
Diet Coke, and a fresh slice of cheese pizza. “I could use some sustenance,”
Summers said. “I’ve had a long day—and I’m not going to talk about that.”
Instead, Summers launched into a wide-ranging talk outlining his overarching
vision for the future of the University—leaving little doubt that, despite calls
for his resignation, the president is in it for the long haul. Battling back
yawns at the beginning of his speech, Summers shed his suit jacket—and his look
of fatigue—as he reiterated his call for curricular reforms aimed at bolstering
the quality of undergraduate science instruction. But Summers also sought to
defuse criticism that he prioritizes the hard sciences over the humanities.
Historically, he said, Harvard has been “more successful in training people and
developing skills in the humanities...than we have been in the sciences.” “The
sense is not that science is more important at all,” Summers said. “It’s an area
where we have a longer way to go.”
Daniel J. Hemel, "Summers Garners Applause At Mather," The Crimson, March 16,
2005 ---
http://www.thecrimson.com/today/article506467.html
How well do senior faculty know students?
A chorus of [students] complained about the poor quality of academic advising
and a lack of interaction between students and tenured professors.
When Summers asked the crowd whether “two senior
faculty know you well,” barely a quarter of students raised their hands. “There
are a surprising number of students who would like to have more contact with
senior faculty—and a surprising number of senior faculty who would like to have
more contact with students,” Summers observed. After the hour-long
conversation, students praised Summers’ openness. “I think he was receptive to
student concerns,” said Rita Parai ’07. H. Francis Song ’06 added that Summers
“showed more sensitivity to students’ needs than I expected.”
Daniel J. Hemel, "Summers Garners Applause At Mather," The Crimson, March 16,
2005 ---
http://www.thecrimson.com/today/article506467.html
I think the vote of no confidence in Lawrence
Summers is a wonderful thing. Harvard continues to discredit itself with the
American public. The faculty is trapped. If Summers resigns, this extraordinary
example of political correctness will come back to haunt Harvard, and the entire
academy, for years. But if Summers hangs on, the faculty itself will have been
humiliated--checked by the very fact of public scrutiny. Either way, Harvard is
tearing itself apart. So long as the public simply writes of [sic] the academy,
the mice can play. But the intense public scrutiny in this case puts the
captains of political correctness into a no-win situation. Like the closely
watched Susan Estrich fiasco, this battle is doing lasting damage to the
cultural left. As they say, sunlight is the best disinfectant.
Stanley Kurtz, The National Review, March 16, 2005 ---
http://www.nationalreview.com/thecorner/05_03_13_corner-archive.asp#058358
I wonder if it was a statue of Larry
Summers?
Fairbanks' largest ice sculpture came tumbling down
late Sunday night with a ground-shaking crash that was heard but not seen. The
Fox Icescraper, the 150-foot tall tower of ice built by John Reeves next to the
Steese Highway eight miles north of Fairbanks, collapsed at around 10:45 p.m.
after developing a significant lean over the weekend. "It woke me up out of a
dead sleep," said Ben Ballard, . . .
Tim Mowrey"Fox ice tower falls," Fairbanks Daily News-Miner, March 15, 2005 ---
http://www.news-miner.com/Stories/0,1413,113~7244~2763420,00.html
Sex and Character
There are many great books. And of weird books, the
number is countless. Yet, paradoxically enough, there are not that many great
weird books. Sex and Character by Otto Weininger is one of them. The
appearance next month of a definitive English
translation, published by Indiana University Press, is a major cultural
event - one that is, arguably, at least several decades overdue. First
published in Vienna in 1903, Sex and Character is the product of a tortured
genius. Or at least the work of someone remarkably devoted to playing that role.
The author was 23 years old when it appeared. In its first incarnation, the book
was Weininger's dissertation -- a more or less scientific account of the
physiology of gender differences. In revising it, Weininger created a mixture
of psychological introspection, neo-Kantian epistemology, and Nietzschean
cultural criticism, along with a heavy dose of anti-feminist polemic. Toward
the end of the book, Weininger seasoned the stew with a few dashes of
anti-Semitic vitrol. Then, a few months after seeing the manuscript through the
press, he went to the house where Beethoven died and killed himself. This did
not hurt sales. And it sure did clinch the "tortured" part. The double impact of
Weininger's work and his suicide created a sensation, and not just in Austria.
The list of Weininger's admirers reads like a survey course in Western culture
from the early 20th century. The most perfunctory roundup would include James
Joyce, Karl Kraus, Robert Musil, Arnold Schoenberg, Gertrude Stein, William
Carlos Williams, and Ludwig Wittgenstein. An unsigned English version
of Sex and Character appeared in 1906, prepared by someone whose
qualifications for the job evidently boiled down to possessing (1) a German
dictionary and (2) the willingness, when necessary, to hazard a guess. The title
page proclaimed this an "Authorized Translation" -- though it's still not clear
who, if anyone, authorized it, and in any case the English edition omits whole
sections of the original text. Ludwig Wittgenstein called the 1906 translation
"beastly." But it is the one we monolingual Europhiles have had to rely on for
almost a century. (Excerpts from it are available
online,
who knows why.)
Scott McClemee, "Sex and the Single Genius," Inside Higher Ed, March 15,
2005 ---
http://www.insidehighered.com/views/intellectual_affairs__12
India swings on the Laffer curve
Its economy is growing at a rapid rate, the Mumbai
stock market is performing well, tax revenues are flowing steadily into New
Delhi, and the government is now planning to compete with Beijing in contracting
for oil supplies to feed India's growing appetite for energy. How did this most
unexpected rags-to-riches story come about? One clear reason can be found in a
headline in Bloomberg's financial network on 11 January 2005, over a story by
Andy Mukherjee writing from Singapore: "India's Tax Plan May Again Bet on
Laffer Curve." I was most pleased to read that Finance Minister P Chidambaram
is hinting at a "massive" change in the country's tax system, slashing tax rates
on personal and corporate incomes in a second gamble on "the Laffer Curve",
which Chidambaram mentions by name as an idea he has embraced with enthusiasm.
Jude Waniski, "India swings on the Laffer curve," Aljazeera, March 7, 2005 ---
http://english.aljazeera.net/NR/exeres/19C56AC9-1B19-4096-9068-79F9A2C8CDB5.htm
You can read more about the Laffer curve at
http://en.wikipedia.org/wiki/Laffer_curve
Also see
http://www.vistech.net/users/rsturge/laffercu.html
Do you really believe he won't ever drink again?
Having a vanity plate the reads "TIPSY" may not be such
a good idea after all. Josiah Johnson, of Argusville, N.D., is in trouble for
drunken driving. He figures his TIPSY plate might have tipped off the deputy who
busted him. Police say Johnson had a blood-alcohol level twice the legal limit
after he left a sports bar in Moorhead. Johnson said the TIPSY plate was meant
to describe the way an old Jeep rode, and he kept the plate when he got a Chevy
Silverado. Johnson said he has learned his lesson and will never drink and drive
again.
"TIPSY License Plate Owner Pulled Over For Drunken Driving," ClickOnDetroit,
March 16, 2005 ---
http://www.clickondetroit.com/news/4289598/detail.html
Open Season on Kittie Cats: Give granny a shotgun so she can kill
Sylvester before he gets Tweety Bird
Wisconsin is considering allowing the hunting of cats.
Not cougars or mountain lions or tigers on the loose but putty-tats: Sylvester
the cat. Morris the cat. Garfield. The aim is to prevent the mass-killing of
birds by cats, mostly of the feral — i.e., wild — variety. In other words, some
people want to give granny a shotgun so she can kill Sylvester before he gets
Tweety Bird.
Jonah Goldberg, "First, kill the cats," Jewish World Review, March 16,
2005 ---
http://www.jewishworldreview.com/cols/jonah031605.asp
Social Networking: What is "The Facebook" for college students?
They say it's lonely at the top. But David J. Skorton,
the president of the University of Iowa, has a nice support group -- 994 strong,
and growing every day. Skorton has a profile in "The
Facebook," an online "social network" service that students nationwide have
flocked to since it was started last year. The Facebook, like Friendster and
similar services, lets participants set up profiles of themselves and link those
profiles to their friends' profiles, their friends' friends' profiles, etc. The
Facebook focuses on college students, and is open only to participants with
e-mail addresses at the growing number of colleges that are part of the
network. Most students use Facebook for fun, to organize parties, find dates or
stay in touch with friends. Participants' profiles display their friends in the
system, so it's easy to see who is well connected on a given campus. Skorton was
encouraged to sign up by two of those who are now among his nearly 1,000
friends: Lindsay Schutte, president of the student government at Iowa, and Josh
Skorton, the president's son and a student at Stanford.
Scott Jaschik, "A President With a Lot of Friends," Inside Higher Ed, March 16,
2005 ---
http://www.insidehighered.com/insider/a_president_with_a_lot_of_friends
Would you like an order of fries with your government education loan?
The seven campuses of the Business Career Training
Institute shut down at the end of last week, leaving students confused and
regulators angry in Oregon and Washington State. BCTI, as it was known,
promoted itself as a school to prepare people for jobs in the technology
industry. But state officials questioned whether it was doing that. An Oregon
investigation found that the BCTI advertising was misleading and that many of
the graduates who found jobs -- after paying more than $20,000, typically with
federal student loans, for the program -- ended up in the fast food industry or
in other positions unrelated to the supposed training.
Scott Jaschick, "Trade School Chain Shuts Down," Inside Higher Ed, March
16, 2005 ---
http://www.insidehighered.com/insider/trade_school_chain_shuts_down
Bob Jensen's threads on diploma mill frauds are at
http://www.trinity.edu/rjensen/FraudReporting.htm#DiplomaMill
So much for the new SAT being "new"
Some students apparently felt lucky Saturday. One of
the final practice essay questions used by the Princeton Review test prep
service, in the weeks leading up to the SAT, was about whether majority rule is
always correct -- the topic that was on the actual test. A spokeswoman for the
Princeton Review said some parents were concerned that their children might have
somehow had access to the test in advance, and called Princeton Review on
Monday, only to be told that the test materials the service uses are "really
accurate." The Princeton Review spokeswoman also said that about 70 percent of
the test questions were "recycled" from a 2002 test. "So much for the new SAT
being 'new,' " she said.
Scott Jaschik, "Multiple Choice," Inside Higher Ed, March 15, 2005 ---
http://www.insidehighered.com/insider/multiple_choice
Statistical Snapshot
The report,
Postsecondary
Institutions in the United States: Fall 2003 and Degrees and Other Awards
Conferred: 2002-03, is among the studies that the department's National
Center for Education Statistics releases each year that, taken together, provide
a statistical portrait of higher education. This study focuses on how many
institutions there are (and what kind), what they charge, and how many degrees
and certificates they award.
Doug Lederman, "Statistical Snapshot," Inside Higher Ed, March 15, 2005
---
http://www.insidehighered.com/insider/statistical_snapshot
Say what? A new word "wedgied" into
Webster's Dictionary
Wedgie, a teenager's locker-room nightmare, has made it into the dictionary.
Webster's New World College Dictionary based in Cleveland said wedgie was among
its new additions to its latest edition. The new edition will carry this
listing: wedgie: noun. a prank in which the victim's undershorts are jerked
upward so as to become wedged between the buttocks. The dictionary also carries
the tradition wedgie definition of a type of shoe. "`Wedgie' was always a part
of the high school terminology that you sort of never thought about later," said
Editor in Chief...
"'Wedgie' Added to Webster's Dictionary," Washington Times, March 15,
2005 ---
http://snipurl.com/wedgieMarch15
The European Commission has a
"chronically sordid" accounting system
The European Commission has a "chronically sordid"
accounting system and is still unable to keep track of the EU's £73billion
budget after a decade of financial scandals, according to a top EU insider. An
internal email obtained by The Telegraph paints an ugly picture of an autocratic
body with an "incestuous esprit de corps" that uses its bureaucratic muscle to
"trash" any official who dares to question its methods. It said the Budget
Directorate was in "persistent denial of the real nature and depth of problems"
it faced, choosing "cavity filling solutions where root canals were called
for". The note was written by the former director-general of the commission's
Internal Audit Service, Jules Muis, who retired last year after attempting to
spearhead the EU's reform drive. He said the Budget fiefdom relied on
non-qualified accountants to manage funds, allowing it to "get away with"
practices that breached its own laws. It operated a "perverse incentive
structure" that rewarded staff if "they managed not to discover financial
malfeasance".
Ambrose Evans-Pritchard, "EC's 'sordid accounting' damned in email from top
auditor," The Daily Telegraph, March 15, 2005 ---
http://snipurl.com/ECaccounting
Kansas Abortion Clinics
Fight Data Request
Two Kansas clinics are opposing efforts by the state's
attorney general to obtain the medical records of more than 80 women who
received late-term abortions in 2003. The attorney general, Phill Kline, has
argued that he is looking for evidence of child rape and violations of a state
law restricting abortions performed after 22 weeks of pregnancy. But clinic
supporters contend Kline is on a fishing expedition that invades patients'
privacy and is making a calculated effort to hamper the clinics from performing
abortions. Kline's push for medical records, backed by a judicial subpoena, is
the strongest move yet by...
Peter Slevin, "Kansas Abortion Clinics Fight Data Request: Criminal Inquiries
Trump Issues of Privacy, State Says," Washington Post, March 15, 2005 ---
http://www.washingtonpost.com/wp-dyn/articles/A35009-2005Mar14.html
Say what? "Israelis
are "legitimate targets" for Palestinian terrorists"
Police have decided not to charge a controversial
Muslim leader under Canada's hate-crime laws for suggesting on a television talk
show last fall that all adult Israelis are "legitimate targets" for Palestinian
terrorists. Investigators with Halton Region police said that while the comments
by Dr. Mohamed Elmasry "were described by many as [a] hate crime," they did not
meet the legal definition. "Although the comments would be considered
distasteful to many, in this context they do not constitute a criminal offence,"
police said in a news release. "The comments were made during a free-flowing
discussion between subject-matter experts who were...
Chris Wattie "Saying Israelis are 'legitimate targets' not a hate crime police:
Elmasry talk show case," National Post, March 15, 2005 ---
http://www.canada.com/national/nationalpost/news/story.html?id=845a6d55-2da6-47d7-a1fe-9a17610b62a8
Bad Grades for Teacher Education in
America's Universities
American colleges and universities do such a poor job
of training the nation's future teachers and school administrators that 9 of
every 10 principals consider the graduates unprepared for what awaits them in
the classroom, a new survey has found. Nearly half the elementary- and
secondary-school principals surveyed said the curriculums at schools of
education, whether graduate or undergraduate, lacked academic rigor and were
outdated, at times using materials decades older than the children whom teachers
are now instructing. Beyond that, more than 80 percent of principals said the
education schools were too detached from what went on at local elementary and
high schools, a factor that made for a rift between educational theory and
practice. "I thought there were problems in the field," said Arthur E. Levine,
president of Teachers College at Columbia University, who is to release the
findings in a report today. "But I didn't realize the depth of the problems."
In the report, Dr. Levine - who when interviewed described the program at his
own school as strong but "absolutely not" ideal - said he and other experts who
worked on the study had focused their efforts on finding education schools
capable of producing excellent principals, superintendents and other
administrators. They found none in the entire country.
Greg Winter, "Study Finds Poor Performance by Nation's Education Schools,"
The New York Times, March 15, 2005 ---
http://www.nytimes.com/2005/03/15/education/15teach.html?
Freezing Out Identity Theft
In an effort to combat the rapidly escalating outbreak
of identity-theft crimes, a handful of states including California and Texas
have passed legislation that allows consumers to put a "security freeze" on
their credit history. Some 20 other states this year have considered or are
considering adopting similar laws, which make it nearly impossible for criminals
to use stolen information to open bogus new accounts. The measures are so
effective because once frozen, a merchant is unable to review an applicant's
credit history. Lacking such information, most companies refuse to open a new
account, greatly devaluing stolen personal data. . . Currently, federal law does
allow consumers to put a fraud "alert" on their files. If an alert pops up when
someone applies for credit, the bank or merchant is supposed to try to verify an
individual's identity. But the alert doesn't close off this access to credit
histories. Instead, it merely warns the cellphone store or the credit-card
issuer to take extra care with any new customer using a particular name. No
federal law gives all consumers the right to freeze their credit entirely, which
keeps merchants from being able to look at it at all. (Companies with a
pre-existing relationship with someone can generally still get access to their
frozen credit files.)
Jennifer Saranow and Ron Lieber, "Freezing Out Identity Theft: Potent State
Laws Let Consumers Bar Access to Credit Reports, But Not Without Headaches,"
The Wall Street Journal, March 15, 2005; Page D1 ---
http://online.wsj.com/article/0,,SB111084275620679216,00.html?mod=todays_us_personal_journal
Texas law is limited
But in some states, legislators are fighting identity
theft by proposing laws that give consumers the right to lock up their credit
files with a security freeze. A security freeze lets you decide who gets to see
your credit record, which prevents thieves from obtaining credit using your
identity. Texas has enacted such a law, but only for consumers who have already
been victimized by identity theft. SB 100 would expand that right so that all
consumers could look up their credit files with a security freeze.
Consumers Union ---
http://snipurl.com/SecurityFreezeTexas
Instructions for filing a security
freeze in Texas are at
http://www.law.uh.edu/peopleslawyer/SecurityFreeze.html
Also see
http://www.idtheftcenter.org/vg124.shtml
Bob Jensen's threads on identity theft
are at
http://www.trinity.edu/rjensen/FraudReporting.htm#IdentityTheft
Fidel's Fortune
He didn't make it into the billionaire category, but
Fidel Castro nonetheless earned an honorable mention on Forbes magazine's annual
list of the World's Richest People out this month. And why not? With a net worth
of $550 million, this is one bit of media recognition that El Jefe actually
deserves. According to Forbes, the Cuban leader committed to "socialism or
death" has made a killing from a "web of state-owned businesses" -- all of which
have no competition in the worker's paradise. Castro's most profitable
operations include a convention center, a retail conglomerate and a company
called Medicuba that sells pharmaceuticals made on the island, reports the
magazine. Not mentioned are Cuba's biggest exports -- seafood, tobacco, sugar
and nickel -- which, as El Maximo Lider of the communist regime, Fidel naturally
benefits from too.
"Fidel's Fortune," The Wall Street Journal, March 15, 2005; Page A20 ---
http://online.wsj.com/article/0,,SB111084691636579380,00.html?mod=todays_us_opinion
20th century's most
influential practitioner of the horror story
For a man who didn't believe in the afterlife, H.P.
Lovecraft sure is having a remarkable one. Few people had heard of him when he
died at the age of 46 on this date in 1937, and fewer still had read the stories
he sold to tacky pulp magazines. Nowadays, however, Stephen King and just about
everybody else in the know recognizes him as the 20th century's most influential
practitioner of the horror story -- a claim he arguably clinched last month with
the publication of his best works in a definitive edition.
John J. Miller, "H.P. Lovecraft: 68 Years Dead And More Influential Than Ever,"
The Wall Street Journal, March 15, 2005; Page D8 ---
http://online.wsj.com/article/0,,SB111084042433479156,00.html?mod=todays_us_personal_journal
Jensen Comment: The
online works of H.P. Lovecraft are at
http://www.dagonbytes.com/thelibrary/lovecraft/
Big Amazon has the patent for
watching you
That's one key feature, anyway, of a system Amazon has
invented to gather clues about customers' gift-giving habits in order to suggest
future gifts and reminders. The company was
granted a patent last week for the system, which also profiles gift
recipients and guesses their age, birthday and gender. Amazon says it hasn't
put the "systems and methods" covered by
the patent to use, so it isn't monitoring customer review pages yet. But
that fact gives little comfort to consumer advocates, who have
hounded Amazon for years over its customer-profiling practices.
Alorie Gilbert, "Privacy advocates frown on Amazon snooping plan, CNET News,
March 14, 2005 ---
http://snipurl.com/deu7
Jews vs. Catholics in
the stem cell debate
Monday night at dinner, I ask Austriaco if he sees a
Catholic-Jewish difference on these questions. He does, particularly among
theologians. Jews follow diffuse commentary, he says; Catholics follow
streamlined authority. Jews trust intuition; Catholics trust reason. "You don't
have as clear a definition of boundaries as we have," he observes. This is why
Catholics have an easier time getting over the yuck factor. "We say, 'Yeah, it
looks yucky.' But I'm a molecular biologist. We make tumors in the lab all the
time. For a Catholic, if I can articulate what I'm doing, it's not yucky."
William Saletan "Oi Vitae: Jews vs. Catholics in the stem cell debate,"
Slate, March 7, 2005 ---
http://slate.msn.com/id/2114733/
How to lie with
statistics: The Washington Post does it this way
In yet another example of biased Washington Post
reporting (my partner Pat Hynes rightly skewered Mike Allen's "Tom DeLay's
issues have GOP Worried" story earlier), their latest poll showing bad news for
President Bush's Social Security reform plan is a joke. So, as we have so many
times before we're going to show you how the MSM - in this case The Washington
Post presents data in a misleading way so that it fit their desired outcome.
Nowhere has this been more true than in the recent polls about Social Secruity,
and the latest Post poll is yet another striking...First, take a look at the
nature of the respondents. It's 1,001 "randomly selected adults" (much the same
tactic used by the fraudulent
New York Times and
AP polls on Social Security which we exposed) . That's the extent of
the Post's description of respondents. Nowhere is mentioned how many of the
respondents were even "registered voters" (let alone likely ones), the party
identification of the voters, their ages, geographical location or income
levels. All of those factors would have an impact on the outcome of the poll.
Thus, there is no way for the reader to know if this is a "rigged" sample made
up of ardent liberal from the northeast, or if it reflects a true opinion of the
American people. One thing is certain - it sure doesn't give the reader an
actual idea of what the ELECTORATE might do to lawmakers who support or oppose
the plan, given that statistically between 30-40% of the "adult" respondents
don't even vote in Presidential elections. The number of non-voters in this poll
will be even higher in the 2006 elections.
"Calling "Bulls**t" On The Washington Post, Pt. II-We Skewer Yet Another MSM
Poll," Ankle Biting Pundits, March 15, 2005 ---
http://www.anklebitingpundits.com/index.php?name=News&file=article&sid=1253&mode=nested&order=1&thold=0
Europeans Grow More Intolerant of
Immigrants
Europeans are becoming more intolerant of immigrants
and one in five want them sent home, a study released Tuesday by the European
Union racism watchdog showed. The study, based on pan-EU opinion surveys between
1997 and 2003, found a significant increase in support for the view that there
were limits to a so-called multicultural society. There was also a significant
increase in the minority of people who supported repatriating immigrants, to 20
percent, the study said, without providing the scale of either increase. "The
European Union is confronted with intolerance and discriminatory attitudes
toward minorities and migrants," Beate Winkler, head...
Marcus Kabel, "Europeans Grow More Intolerant of Immigrants-Study," Reuters,
March 15, 2005 ---
http://story.news.yahoo.com/news?tmpl=story&cid=574&ncid=721&e=4&u=/nm/20050315/wl_nm/rights_europe_dc
Diverse positions among worshippers
having the same God
The leadership of the Presbyterian Church recently
decided to encourage its governing body to promote divestment from companies
that do business with Israel. Shortly thereafter, the Anglican church, the
Lutheran church and the World Council of Churches (WCC, with 347 member
denominations world-wide) followed suit with the explanation that divestment
"(is) a new way to work for peace, by looking at ways to not participate
economically in illegal activities related to the Israeli occupation." (1) These
churches are among those often referred to as "mainline" churches. The most
problematic issue of this new “mainline” posture is that it is clearly intended
to support the Arab terror war against Israel; and to justify that support,
church spokespersons make use of false information about the conflict. A review
of factual information about the conflict and the nature of divestment reveals
that the mainline churches have stood up in favor of a process that is illegal,
irrational, immoral, biased against Israel and in favor of Israel’s enemies, and
consciously oblivious to the transparent lies of divestment proponents.
Moreover, by supporting divestment, they ignore the real threats of global
terrorism which seeks, among other things, the destruction of all other forms of
religion in the world, including Christianity. The mainline churches' stand,
therefore, is quite literally self-destructive.
David Meir-Levi, "Mainline Christian Anti-Semitism," Front Page Magazine,
March 15, 2005 ---
http://www.frontpagemag.com/Articles/ReadArticle.asp?ID=17308
Diverse positions among
worshippers having the same Allah
Throughout the West, Muslims are making new and
assertive demands, and in some cases challenging the very premises of European
and North American life. How to respond? Here is a general rule: Offer full
rights — but turn down demands for special privileges. By way of example, note
two current Canadian controversies. The first concerns the establishment of
voluntary
Shar'i (Islamic law) courts in Ontario. This idea is promoted by the usual
Islamist groups, such as the
Council on American-Islamic Relations-Canada and the
Canadian Islamic Congress. It is most prominently opposed by Muslim women's
groups, led by Homa Arjomand,
who fear that the Islamic courts, despite their voluntary nature, will be used
to repress women's rights.
Daniel Pipes, "Which privileges for Islam?" Jewish World Review,
March 15, 2005 ---
http://jewishworldreview.com/0305/pipes2005_03_15.php3
Forwarded by Debbie
Bowling
Scientists discover green tea's cancer-fighter Spanish
and British scientists have discovered how green tea helps to prevent certain
types of cancer.
http://g.msn.com/0MNBUS00/2?http://www.msnbc.msn.com/id/7187847&&CM=EmailThis&CE=1
Elders with shaky hands can have a steady mouse
IBM is expected to unveil the product today, a mouse
adapter that filters out the shaking movements of the hand to enable a user to
navigate a PC screen more smoothly. The device is plugged between the mouse and
the PC and works like the stabilization systems found in many camcorders.
Benjamin Pimentel, "Helping hand for those with shaky hands IBM to unveil mouse
adapter to steady cursor," San Francisco Chronicle, March 14, 2005 ---
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2005/03/14/BUGCIBO7E01.DTL&type=tech
Adding pasted notes to Web pages
In 2001, Microsoft bought
Web page markup technology from a company called
E-Quill but hasn't incorporated any of its features into Internet Explorer.
The iMarkup toolbar, which
debuted to
rave reviews in 2000, hasn't gotten much buzz since. You can still
get iMarkup—a
30-day trial is free and it costs $39.95 if you want to keep it after that. One
screenshot says it all: You can highlight parts of a page, post sticky
notes, draw freehand, and insert arrows, links, file attachments, and sound
bites. Taking notes on the Slate home page won't change what
other surfers see. But when you revisit the page, iMarkup will remember what you
wrote and slap your notes atop the live site. In one simple step, you can e-mail
your annotations (or a screenshot of your annotations) to a friend. Using a free
iMarkup plug-in, they can then view your notes overlaid atop the live site.
Paul Boutin, "The new technique that will change blogging forever," Slate,
March 15, 2005 ---
http://slate.msn.com/id/2114791/
Family of Slain Protester Sues Caterpillar
The parents of a 23-year-old activist killed while
trying to prevent the demolition of a Palestinian home is suing Caterpillar
Inc., the company that made the bulldozer that ran over her. The federal
lawsuit, which lawyers said would be filed here Tuesday, alleges that
Caterpillar violated international and state law by providing specially designed
bulldozers to Israeli Defense Forces that it knew would be used to demolish
homes and endanger people.
Elizabeth M. Gillespie, "Family of Slain Protester Sues Caterpillar,"
Guardian, March 15, 2005 ---
http://www.guardian.co.uk/worldlatest/story/0,1280,-4867950,00.html
An what if the El Paso company outsources its New Jersey
contracts?
New Jersey lawmakers passed a bill this week that would
ban all state contract work from being performed outside the country. Acting
Governor Richard Codey is expected to sign the measure, which would be the first
of its kind in the U.S. and no doubt bring joy to the hearts of CNN's Lou Dobbs
("Outsourcing America") and protectionists everywhere . . . And all for a
measure that is bound to end up costing more local jobs than it protects. If the
state contractor's costs rise because it has to dismiss its low-cost overseas
workforce, it will either have to drop the state contract, accept lower profits,
or lay off other workers. As an alternative, a state contractor who can't use
workers in India would still be able to outsource jobs to workers in a more
business-friendly state like Texas. Can someone explain why New Jersey taxpayers
should feel so much better about paying more to hire workers in El Paso as
opposed to paying less to hire them in Bangalore?
"Outsourcing New Jersey," The Wall Street Journal, March 16, 2005 ---
http://online.wsj.com/article/0,,SB111093749293380715,00.html?mod=opinion&ojcontent=otep
In matters of conscience, the law of
majority has no place.
Mahatma Gandhi
The United Nations celebrates International Women's Day ---
http://www.un.org/events/women/iwd/2005/
From UCLA: Archive of American Folk Medicine ---
http://www.folkmed.ucla.edu/
Nations from Europe to Eastern Asia are on a fast track to pass the United
States in scientific excellence and technological innovation.
For more than half a century, the United States has led
the world in scientific discovery and innovation. It has been a beacon, drawing
the best scientists to its educational institutions, industries and laboratories
from around the globe. However, in today’s rapidly evolving competitive world,
the United States can no longer take its supremacy for granted. Nations from
Europe to Eastern Asia are on a fast track to pass the United States in
scientific excellence and technological innovation. The Task Force on the Future
of American Innovation has developed a set of benchmarks to assess the
international standing of the United States in science and technology. These
benchmarks in education, the science and engineering (S&E) workforce, scientific
knowledge, innovation, investment and high-tech economic output reveal troubling
trends across the research and development (R&D) spectrum. The United States
still leads the world in research and discovery, but our advantage is rapidly
eroding, and our global competitors may soon overtake us.
"THE KNOWLEDGE ECONOMY: IS THE UNITED STATES LOSING ITS COMPETITIVE EDGE?" THE
TASK FOR C E ON THE FUTUR E OF AME R I CAN INNOVAT ION, February `6, 2005 ---
http://www.futureofinnovation.org/PDF/Benchmarks.pdf
Reinvigorating the Humanities: Enhancing Research and Education on Campus
and Beyond
Association of American Universities ---
http://www.aau.edu/
Founded in 1900, the Association of American Universities (AAU) initially
consisted of the fourteen universities that offered the Ph.D. degree. Currently
their number includes 60 American universities and two Canadian universities.
The AAU's overall mission is to develop national policy positions of primary
relevance to academic research and graduate and professional education. Of
course, the organization's work also extends to other germane areas, including
timely discussion of undergraduate education. On the AAU site, visitors can
learn about the organization's most recent work, read about its positions on
intellectual property issues, and peruse the latest AAU newsletters. The section
of the site dedicated to internally produced reports will be of great interest
to some, as it contains helpful work on such topics as "Reinvigorating the
Humanities: Enhancing Research and Education on Campus and Beyond"
Quoted from the Scout Report on March 17. 2005
Defining a new role for the humanities in the
university and in society
More recently, the humanities have been caught in a conflict between
over-simplified aristocratic and democratic notions of liberal arts education.
Under the former, the liberal arts are viewed as being distinctly not useful;
under the latter, they are seen as providing ideas of value to all citizens.
Indeed, scholars and university administrators need to bear in mind the value of
the humanities in the education of all of a university’s students, the
usefulness of this knowledge in the professional lives of those students, and
society’s need for a common base of understanding and an educated citizenry.
Recently, those closely involved with the humanities —scholars, university
administrators, academic society officials, and others—have begun separate
reexaminations of established traditions and expectations, leading perhaps to
defining a new role for the humanities in the university and in society. This
report is intended to further prompt that reexamination of the humanities on
university campuses, to identify steps that some institutions already have
taken, and to propose future action.
I quoted the above from the Executive Summary at
http://www.aau.edu/issues/ExecSumm.pdf
You can get more details from
http://www.aau.edu/issues/humanities.cfm
University of California researchers surveyed
thousands of faculty members throughout the system’s campuses on the number of
hours they spent providing care of any sort for their families. They previously
released general data confirming conventional wisdom: that women have more care
burdens than men. But additional data presented Saturday at the annual meeting
of the American Association for Higher Education compared hours spent on care by
male and female faculty members of the same age groups, and with the same status
of being a parent or not being one. The following table shows that while gaps
are minimal between men and women without children, they are significant for men
and women with children:
Hours Spent on Family Care, by Age
| Democragraphic group |
Under 34 |
34-38 |
38-42 |
42-46 |
| Women with children |
37 |
43 |
38 |
34 |
| Men with children |
25 |
21 |
23 |
19 |
| Women without children |
6 |
10 |
7 |
8 |
| Men without children |
8 |
7 |
7 |
10 |
Marc Goulden, a researcher for the University of
California, said that the data pointed to a shortcoming of many policies adopted
by colleges to help parents. The policies tend to focus on the time demands on
new parents, but ignore the reality that time demands are as great or greater
when kids start to grow up as when they are babies.
Scott Jaschik, "Unequal Burden," Inside Higher Ed, March 21, 2005 ---
http://www.insidehighered.com/news/2005/03/21/care
Breakthrough in adult (as opposed to embryonic) stem cell research
Experiments have shown adult stem cells isolated from
the olfactory mucosa have the ability to develop into many different cell types
if they are given the right chemical or cellular environment," explains Mackay-Sim.
New nerve cells, glial cells, liver cells, heart cells, muscle cells -- all were
grown in a dish from stem cells from the human nose. Establishing the
versatility of these adult stem cells was in itself a significant scientific
achievement, but the Griffith University team's experiments also uncovered a
raft of additional advantages. For starters, such cells are easily harvested.
The research team's doctor, prominent Brisbane ear, nose and throat specialist
Chris Perry, was able to extract them from consenting patients - and later from
the scientists themselves - by simply spraying the inside of the nose with a
local anaesthetic and then removing a sample no bigger than a grain of pepper.
The harvested stem cells were not only readily available but proved to be
astonishingly easy to grow in the laboratory, with millions of them forming
within weeks. Down the track, once all the required trials are carried out -
which could take at least another five years - it might well be possible for a
healthy person to have his olfactory stem cells harvested, a mildly
uncomfortable process that takes barely 10 minutes, grown in a lab and then
frozen for injection years later into -- to give just one example -- the
withered muscles of a heart after a heart attack.
Wayne Smith, "Sweet Smell of Success," The Australian, March 22, 2005 ---
http://www.theaustralian.news.com.au/common/story_page/0,5744,12616654^28737,00.html
More nonprofit colleges may be purchased by for-profit institutions
Sean Gallagher, a senior analyst at Eduventures, which
does research on the education industry for investors and colleges, said he is
not surprised to see an institution like Saint Mary’s turn to a place like Regis
to take over adult education programs. “Higher education is scalable and larger
providers have a huge advantage in marketing and online education,” he said.
“It’s just very difficult to develop a curriculum and manage and market it” in
adult education, when you are a small college, Gallagher said. Eduventures —
which counts both Regis and Phoenix among its clients — has predicted that more
nonprofit colleges may be purchased by for-profit institutions. That happened
this month when Bridgepoint Education, a for-profit higher education company,
bought the Franciscan University of the Prairies. But he said the same factors
that prompt that prediction may also apply to places like Regis that are big
enough to compete with the larger for-profit institutions. Officials at Saint
Mary’s said they were drawn to Regis because it is a nonprofit institution. And
Husson, the Regis administrator, said that the university’s traditional emphasis
on values and ethics shapes all its programs.
Scott Jaschik, "How to Compete," Inside Higher Ed, March 18, 2005 ---
http://www.insidehighered.com/news/2005/03/18/regis
Bob Jensen's threads on distance education programs are at
http://www.trinity.edu/rjensen/crossborder.htm
Neil J. Salkind, a professor and a book agent, offers advice on how to get a
publisher interested ---
http://www.insidehighered.com/views/2005/03/21/salkind
What is the current bid for the solutions manual and test bank of your
chosen textbook?
Wiley officials declined to release the names of those
who were sued. But they said that settlements have been reached with students at
Arizona State, Northeastern, Pennsylvania State and Wayne State Universities;
the Universities of Florida and Wisconsin at Madison; and several University of
California campuses. “This is a new form of cheating and copyright violation
with a Malthusian growth cycle,” said Roy S. Kaufman, legal director of Wiley.
Students somehow obtain the materials, copy them and then distribute several
copies, which are in turn copied and sold, he said. Even with Wiley’s efforts
of the past few months, sales of the materials are rampant, he said. On eBay,
you can find these materials by searching for “solutions manual;” there are
choices of texts in many fields and from many publishers. Science and
engineering fields seem to be particularly hot sellers, with bids for the
materials related to many books standing at more than $100.
Scott Jaschik, "A New Form of Cheating," Inside Higher Ed, March 18, 2005
---
http://www.insidehighered.com/news/2005/03/18/cheating
Vietnam Chronicles: Separating Fact from Fiction
The Vietnam War suffered famously from such home-front
confusion, and from policy confusion too. Thus "Vietnam Chronicles"
(Texas Tech University Press, 917 pages, $50) is especially welcome -- for what
it tells us about Vietnam, of course, but also for what is says about the
myth-making and misperceptions that surround any war. The book consists
primarily of recently declassified transcriptions of the weekly intelligence
updates at U.S. military headquarters in Saigon -- officially, at Military
Assistance Command, Vietnam (MACV).
James Schlesinger, "Where Myth Trumped Truth," March 18, 2005; Page W6 ---
http://online.wsj.com/article/0,,SB111110094318983000,00.html?mod=todays_us_weekend_journal
Surge in undocumented immigrants
The nation's undocumented immigrant population surged
to 10.3 million last year, spurred largely since 2000 by the arrivals of
unauthorized Mexicans in the United States, a report being released Monday
says. The population of undocumented residents in the United States increased
by about 23 percent from 8.4 million in the four-year period ending last March,
according to the analysis of government data by the Pew Hispanic Center, a
private research group. That equates to a net increase of roughly 485,000 per
year between 2000 and 2004. The estimate was derived by subtracting the number
of unauthorized immigrants who leave the United States, die or acquire legal
status from the number of new undocumented immigrants that arrive each year.
The prospect of better job opportunities in the United States than in their
native countries remains a powerful lure for many immigrants, said Pew center
director Roberto Suro, pointing to a reason often cited by other researchers.
Genaro C. Armas, Associated Press, March 21, 2005 ---
http://snipurl.com/immigrantsMarch21
Civil rights and immigrant activists say a handful
of bills in the Legislature unfairly target foreign nationals, but sponsors of
the legislation claim they're just trying to slow the flow of illegal immigrants
into Tennessee. One proposed law would require drivers license exams be given
only in English, and another would deny public benefits such as TennCare and
driving certificates to foreign nationals. One bill would prohibit immigrants
from getting any state government services if they cannot show they're in the
country legally.
WBIR, March 21, 2005 ---
http://www.wbir.com/news/news.aspx?provider=KNS&storyid=24208
Iraqi Business Women's Association
I am explaining all of this so you, the reader, may
understand how brave a woman like Tammy is. Tammy, of course, is an alias. She
is Iraqi. Tammy is President of the Iraqi Business Women Association (IBWA).
The objective of the association is to assist Iraqi women in realizing their
ambitions. Iraqi women (who live within the "red zone") are trained how to start
and run their own business. They learn how to use the computer, how to type
resumes, speak better English and so much more. It is a non-profit organization
founded in 2003. I had my first meeting with Tammy a few weeks ago. She went
through tremendous circumstances just to meet me. The purpose of the meeting was
to find out more about her organization and in what ways I could help. We
decided what they could use the most is proved and solid advice from American
women. Real women in real jobs. Real women in real businesses. Real women in
real careers. Giving them the opportunity for their minds to be opened to the
plethora of opportunities awaiting them, possibilities of being: doctors,
lawyers, store owners, restaurateurs, owning and operating manufacturing plants,
salons, distributorships,...and doesn't the list goes on?
William D. Hodges, "Iraqi Business Women's Association," Free Republic,
March 21, 2005 ---
http://www.freerepublic.com/focus/f-news/1367174/posts
Jensen Comment: Many Iraqi's, men and women, are being especially brave in
their efforts to bring a new freedom and a new economy to Iraq.
Corruption Scandal in France
Senior allies of President Jacques Chirac -- including
four former ministers -- were among nearly 50 people who appeared in court in
Paris at the start of one of France's biggest ever political corruption trials.
A total of 47 defendants -- including politicians, party officials, and
representatives of some of France's biggest building companies -- are accused of
fixing public works contracts in the Paris region in order to obtain illegal
party funding. One of several financial scandals to come to light from Chirac's
long tenure to 1995 as mayor of Paris, the affair centres on kickbacks worth
more than 70 million euros (93 million dollars) allegedly paid by the building
firms in order to secure bids to renovate secondary schools around the capital.
Under a secret arrangement that lasted from 1989 to 1997, companies funnelled
back two percent of the money paid by the regional Ile-de-France council, with
1.2 percent going to Chirac's Rally for the Republic (RPR) and its ally the
Republican party (PR), and 0.8 percent going to the Socialists (PS), according
to the prosecution.
"Chirac allies among 47 accused in major French corruption trial," AFP, March
21, 2005 ---
http://story.news.yahoo.com/news?tmpl=story&cid=1511&e=5&u=/afp/20050321/wl_afp/francejusticepolitics_050321142150
Bob Jensen's fraud updates are at
http://www.trinity.edu/rjensen/FraudUpdates.htm
Texas lawmaker proposes ban on cheerleading since it is contradictory to
sexual abstinence
"It's just too sexually oriented, you know, the way
they're shaking their behinds and going on, breaking it down," said Edwards, a
26-year veteran of the Texas House. "And then we say to them, 'don't get
involved in sex unless it's marriage or love, it's dangerous out there' and yet
the teachers and directors are helping them go through those kind of
gyrations." Under Edwards' bill, if a school district knowingly permits such a
performance, funds from the state would be reduced in an amount to be determined
by the education commissioner.
April Castro, "Lawmaker Seeks to End 'Sexy' Cheerleading," Washington Times,
March 18, 2005 ---
http://ap.washingtontimes.com/dynamic/stories/S/SUGGESTIVE_CHEERLEADING?SITE=DCTMS&SECTION=HOME
The Psychology Department: Where the hard and the soft sciences overlap
is still pretty soft
For all its flaws, neuroimaging is here to stay. No
self-respecting psych department can afford to forgo it. Of the dozen or so new
faculty members recently hired by his department, says Phillip Shaver, chairman
of psychology at the University of California, Davis, 10 use primarily
neuroimaging. Economists, political scientists and sociologists are not far
behind. As with all powerful tools, let the user beware.
Sharon Begley, "While Brain Imaging Offers New Knowledge, It Can Be an
Illusion," The Wall Street Journal, March 18, 2005; Page B1 ---
http://online.wsj.com/article/0,,SB111110678590183261,00.html?mod=todays_us_marketplace
Accounting to the rescue
Azerbaijan on the Caspian Sea has offshore oil and gas
fields and related pipelines it is currently developing with international
partners, led by BP. Central Asia's Kyrgyzstan depends on gold mines, the
largest of which is owned by Canadian-based Centerra Gold, for about 10% of its
GDP. The European Bank for Reconstruction and Development has financed these
projects and is among the international and local entities encouraging greater
transparency and improved governance in state and private enterprise across the
region. These two young states are at the vanguard of a fledgling movement
among poor nations with valuable hydrocarbon and mineral wealth to publish the
revenues received from their multinational partners. It is much hoped that
greater transparency and accountability in the resource sector will enhance
reform in other aspects of these countries' transition to market economies based
in well-functioning democracies. Revenue reporting is vital in combating
corruption and what is known as the "resource curse." Many countries seemingly
blessed with oil, gas, precious metals and minerals and other high-value
nonrenewable resources have suffered macroeconomic destabilization from huge and
rapid inflows of resource revenues, particularly for oil and gas. Some
governments have squandered such revenues. This is easily done when taxes and
royalties paid to government by mining and logging companies are not reported
publicly via the legislature as would be normal in developed democracies.
Experience shows that citizens of such countries can end up worse off than
previous generations when corrupt elites use the revenues to stifle necessary
reforms, to suppress dissent and to promote their own ethnic groups and cronies.
The result, as seen in parts of Africa in particular, can be civil unrest, even
outright war.
Jean Lemierre, "Beating the 'Resource Curse' With Transparency," The Wall
Street Journal, March 18, 2005,
http://online.wsj.com/article/0,,SB111110016176782969,00.html?mod=opinion&ojcontent=otep
Bob Jensen's threads on revenue reporting are at
http://www.trinity.edu/rjensen/ecommerce/eitf01.htm
The condition of large tails in the distribution is known as
leptokurtosis.
I bet you really wanted to know this about return distributions: This means
that there are more frequent large negative outliers than there are large
positive outliers.
Return distributions can be described by what are
known as "moments" of the distribution. Most market participants understand the
first two moments of a distribution: they identify the mean and variance of the
distribution. Often in finance, it is assumed that the returns to financial
assets follow a normal, or bell-shaped, distribution. However, this is not the
case for credit-risky assets. Credit-risky assets are typically exposed to
significant downside risk associated with credit downgrades, defaults, and
bankruptcies. This downside risk can be described in terms of kurtosis and
skewness. Kurtosis is a term used to describe the general condition that the
probability mass associated with the tails of a return distribution, otherwise
known as "outlier events," is different from that of a normal distribution. The
condition of large tails in the distribution is known as leptokurtosis. This
means that the tails of the distribution have a greater concentration of mass
(more outlier events) than what would be expected if the returns were
symmetrically distributed under a normal distribution. The skew of a
distribution is also measured relative to a normal distribution. A normal
distribution has no skew--its returns are symmetrically distributed around the
mean return. A negative skew to a distribution indicates a bias towards downside
exposure. This means that there are more frequent large negative outliers than
there are large positive outliers. This indicates a return profile biased
towards large negative returns.
Mark J.P. Anson, Frank J. Fabozzi, Moorad Chaudhry, and Ren-Raw Chen,
Credit Derivatives: Instruments, Applications, and Pricing, (Wiley,
2003, ISBN: 047146600X, Page 15)
Question
What do you ask (newly admitted MBAs to the Sloan School at MIT) students to do
before they get to campus?
Answer
We have an admit Web site, where the school loads different information for
incoming students. We offer advice on many aspects of the program -- from
recommended business attire to summer reading material. We have them fill out
Meyers-Briggs and Career Leader self-assessment tests, and we review them in a
day-long seminar during orientation.
"What Sets Sloan MBAs Apart: Career Development Director Jacqueline Wilbur
hails MIT's B-school grads for their intelligence and quirky individuality,"
Business Week, March 16, 2005 ---
http://snipurl.com/SloanNewMBAs
I won't raise my glass to this one!
Alcohol consumption accounted for 1,715 deaths among
traditional-age college students in 2001, according to a
study
released Thursday by the National Institute for Alcohol Abuse and Alcoholism.
That represents an increase of about 6 percent (after being adjusted for the
rise in the number of college-age people) from the 1,575 alcohol-related deaths
three years earlier, in 1998, according to the study, which was published in the
latest edition of the
Annual Review of Public Health. The study also found a sharp rise in the
proportion of students aged 18 to 24 who acknowledged driving drunk, to 31.4
percent in 2001 from 26.5 percent in 1998. That represents an increase in the
number of students who drove drunk over that three-year period to 2.8 million,
from 2.3 million.
Doug Lederman, "Death by Drinking," Inside Higher Ed, March 18, 2005 ---
http://www.insidehighered.com/news/2005/03/18/alcohol
The minority pool among GMAT takers is just not big enough
Like Murphy, most of the latest round of B-school
applicants are now receiving acceptance -- or rejection -- letters for this
fall. And as the offers go out, the level of minority enrollment is a pressing
concern for administrators at top schools. Enrollment of Asian Americans is
strong, at around 15% to 25% for top MBA programs. But overall enrollment of
under-represented minorities -- African Americans, Hispanics, and Native
Americans -- has remained flat at about 10% at accredited business schools,
according to the Association to Advance Collegiate Schools of Business."OUTDATED
TERM." That figure is way below those groups' share of the population.
Recruiting African Americans, who comprise 12% of the U.S. population and only
about 7% of the U.S. B-school student body, is particularly difficult. Although
the number of nonwhites taking the GMAT has steadily increased in recent years,
the number of African Americans taking the exam dropped slightly in 2003,
according to the Graduate Management Admissions Council. And some B-school
insiders fear the effort to correct the balance is about to get even more
difficult.
Francesca Di Meglio, "Building a Fire Under the Melting Pot: Top B-schools are
doing their best to boost the number of minority applicants. Trouble is, there
just aren't enough to go around," Business Week, March 16, 2005 ---
http://snipurl.com/MeltingPot
Goodnight, Peter. Goodnight, Tom. Goodnight, Dan.
Until Ted Turner ruined it. The networks' business
model never had room in its schedule for long-form news coverage. By the time
Dan Rather and Tom Brokaw retired, they were Lears in a dying kingdom, overrun
by barbarian talk-show hosts and Internet bloggers. Are we better off? The
political diversity the networks ludicrously refused to admit as a problem is
now everywhere. Cable, notably FOX, has democratized and leveled the opinion
field. For all the pious right-mindedness that gushed out of the three networks,
Barbara Walters and Lesley Stahl never had a snowball's chance of sitting in
those anchor chairs, while now most of cable's anchors seem to be women. In the
golden age of the network Anchorman, TV news was often pompous, wrong and yes,
waaay too liberal. But for all this, it brought -- it forced -- the world's most
liberal standard of free speech and discussion into some rather dark and closed
places. It was about this time that the United Nations -- chockablock with
dictators -- started holding conferences on America's "cultural imperialism." In
no small part, they meant Dan, Peter and Tom and their probing camera armies.
This week, when grand images poured out of Lebanon of a million people massed
against an occupier, it was reported by whichever cable anchor was on shift that
hour. News itself rules the kingdom now, so there's no longer much call for an
Anchorman Chronicles. Goodnight, Peter. Goodnight, Tom. Goodnight, Dan.
Daniel Henninger, "Lifting Anchor: The Last Chronicle Of Dan Rather," The
Wall Street Journal, March 18, 2005; Page A12 ---
http://online.wsj.com/article/0,,SB111110324952483100,00.html?mod=opinion&ojcontent=otep
Former Ernst & Young Tax Advisors: Caught in the Middle of a
Post-Sarbanes Client Tug-a-War
Carolyn Campbell says she decided it was time to leave
accounting firm Ernst & Young when she realized she would have to build a new
client base largely from scratch if she stayed. Ms. Campbell, 35 years old, is
an accountant whose specialty is advising large companies on local and state
taxes. For most of her career, the Big Four firm's audit clients supplied the
bulk of her work. But those jobs are harder to come by. Amid concerns of
conflicts of interest, more public companies are cutting back on giving other,
lucrative "nonauditing" assignments to their independent auditors amid concerns
of conflicts of interest. That means less work for consultants employed by Big
Four firms. In some cases, Ms. Campbell says, Ernst told her that longtime audit
clients were off-limits ... So in October Ms. Campbell, an 11-year Ernst
veteran, left her position in Houston as a senior tax manager to work for
Alvarez & Marsal LLC, a consulting firm that doesn't do audits. "I think I had a
better opportunity working for a nonaccounting firm," she says. Now she is one
of 13 former Ernst consultants at the center of a lawsuit that Ernst filed last
month in a New York state court in Manhattan, accusing Alvarez & Marsal of
raiding its tax and real-estate divisions' personnel, poaching its clients,
interfering with its business and misappropriating confidential information.
Alvarez says it hasn't engaged in any improper conduct and argues that the suit
is a sign of the accounting industry's struggle to adjust to the post-Enron
Corp. world.
Jonathan Weil, "In Post-Enron World, Accounting Firms Fight Over the Pieces,"
The Wall Street Journal, March 18, 2005, Page C1 ---
http://online.wsj.com/article/0,,SB111109239427082751,00.html?mod=todays_us_money_and_investing
Bob Jensen's threads on auditor independence and professionalism are at
http://www.trinity.edu/rjensen/fraud001.htm#Professionalism
The new Foucault Society
The Foucault Society is involved in the study and
application of Michel Foucault's ideas within a contemporary context and to open
up a discourse to the widest possible audience. The Society's new website
serves as a resource for information, news, and events. It is designed to serve
as a means of exchanging ideas about the works of Michel Foucault.
Foucault Society ---
http://www.foucaultsociety.org/
I dream of the intellectual destroyer of evidence
and universalities, the one who, in the inertias and constraints of the present,
locates and marks the weak points, the openings, the lines of power, who
incessantly displaces himself, doesn't know exactly where he is heading nor what
he'll think tomorrow because he is too attentive to the present.
Michel Foucault, "The End of the Monarchy of Sex" from Foucault Live:
Interviews, 1966-1984, tr. John Johnston, ed. Sylvere Lotringer (New
York: Semiotext(e), 1989), p. 155.
The English have been watching too much U.S. television: Take a flying
leap in legal lotto
A teenage criminal who received £567,000 in
compensation after falling through a roof while trespassing boasted about his
wealth yesterday, saying that he was looking forward to buying "a few houses and
a flash car". I deserve this money and I don't care what anybody says about
me," he said. "I'm going to buy a big house so I have a place to live with me
mum when she gets out of jail. I might buy a few houses - I'll buy whatever I
want." He added: "The papers just call me a yob and a thug because I've been
done for robbery and assault but those were just silly stupid little things,
like. "I want to spend my money the way I want without people interfering and I
want to have a prosperous future."
Peter Zimonjic, "I'll buy houses and a flash car, says yob awarded £567,000,
Telegraph-News, March 2, 2005 ---
http://news.telegraph.co.uk/news/main.jhtml?xml=/news/2005/03/20/nyob20.xml
The United Nations celebrates International Women's Day ---
http://www.un.org/events/women/iwd/2005/
From UCLA: Archive of American Folk Medicine ---
http://www.folkmed.ucla.edu/
Nations from Europe to Eastern Asia are on a fast track to pass the United
States in scientific excellence and technological innovation.
For more than half a century, the United States has led
the world in scientific discovery and innovation. It has been a beacon, drawing
the best scientists to its educational institutions, industries and laboratories
from around the globe. However, in today’s rapidly evolving competitive world,
the United States can no longer take its supremacy for granted. Nations from
Europe to Eastern Asia are on a fast track to pass the United States in
scientific excellence and technological innovation. The Task Force on the Future
of American Innovation has developed a set of benchmarks to assess the
international standing of the United States in science and technology. These
benchmarks in education, the science and engineering (S&E) workforce, scientific
knowledge, innovation, investment and high-tech economic output reveal troubling
trends across the research and development (R&D) spectrum. The United States
still leads the world in research and discovery, but our advantage is rapidly
eroding, and our global competitors may soon overtake us.
"THE KNOWLEDGE ECONOMY: IS THE UNITED STATES LOSING ITS COMPETITIVE EDGE?" THE
TASK FOR C E ON THE FUTUR E OF AME R I CAN INNOVAT ION, February `6, 2005 ---
http://www.futureofinnovation.org/PDF/Benchmarks.pdf
Reinvigorating the Humanities: Enhancing Research and Education on Campus
and Beyond
Association of American Universities ---
http://www.aau.edu/
Founded in 1900, the Association of American Universities (AAU) initially
consisted of the fourteen universities that offered the Ph.D. degree. Currently
their number includes 60 American universities and two Canadian universities.
The AAU's overall mission is to develop national policy positions of primary
relevance to academic research and graduate and professional education. Of
course, the organization's work also extends to other germane areas, including
timely discussion of undergraduate education. On the AAU site, visitors can
learn about the organization's most recent work, read about its positions on
intellectual property issues, and peruse the latest AAU newsletters. The section
of the site dedicated to internally produced reports will be of great interest
to some, as it contains helpful work on such topics as "Reinvigorating the
Humanities: Enhancing Research and Education on Campus and Beyond"
Quoted from the Scout Report on March 17. 2005
Defining a new role for the humanities in the
university and in society
More recently, the humanities have been caught in a conflict between
over-simplified aristocratic and democratic notions of liberal arts education.
Under the former, the liberal arts are viewed as being distinctly not useful;
under the latter, they are seen as providing ideas of value to all citizens.
Indeed, scholars and university administrators need to bear in mind the value of
the humanities in the education of all of a university’s students, the
usefulness of this knowledge in the professional lives of those students, and
society’s need for a common base of understanding and an educated citizenry.
Recently, those closely involved with the humanities —scholars, university
administrators, academic society officials, and others—have begun separate
reexaminations of established traditions and expectations, leading perhaps to
defining a new role for the humanities in the university and in society. This
report is intended to further prompt that reexamination of the humanities on
university campuses, to identify steps that some institutions already have
taken, and to propose future action.
I quoted the above from the Executive Summary at
http://www.aau.edu/issues/ExecSumm.pdf
You can get more details from
http://www.aau.edu/issues/humanities.cfm
University of California researchers surveyed
thousands of faculty members throughout the system’s campuses on the number of
hours they spent providing care of any sort for their families. They previously
released general data confirming conventional wisdom: that women have more care
burdens than men. But additional data presented Saturday at the annual meeting
of the American Association for Higher Education compared hours spent on care by
male and female faculty members of the same age groups, and with the same status
of being a parent or not being one. The following table shows that while gaps
are minimal between men and women without children, they are significant for men
and women with children:
Hours Spent on Family Care, by Age
| Democragraphic group |
Under 34 |
34-38 |
38-42 |
42-46 |
| Women with children |
37 |
43 |
38 |
34 |
| Men with children |
25 |
21 |
23 |
19 |
| Women without children |
6 |
10 |
7 |
8 |
| Men without children |
8 |
7 |
7 |
10 |
Marc Goulden, a researcher for the University of
California, said that the data pointed to a shortcoming of many policies adopted
by colleges to help parents. The policies tend to focus on the time demands on
new parents, but ignore the reality that time demands are as great or greater
when kids start to grow up as when they are babies.
Scott Jaschik, "Unequal Burden," Inside Higher Ed, March 21, 2005 ---
http://www.insidehighered.com/news/2005/03/21/care
Breakthrough in adult (as opposed to embryonic) stem cell research
Experiments have shown adult stem cells isolated from
the olfactory mucosa have the ability to develop into many different cell types
if they are given the right chemical or cellular environment," explains
Mackay-Sim. New nerve cells, glial cells, liver cells, heart cells, muscle
cells -- all were grown in a dish from stem cells from the human nose.
Establishing the versatility of these adult stem cells was in itself a
significant scientific achievement, but the Griffith University team's
experiments also uncovered a raft of additional advantages. For starters, such
cells are easily harvested. The research team's doctor, prominent Brisbane ear,
nose and throat specialist Chris Perry, was able to extract them from consenting
patients - and later from the scientists themselves - by simply spraying the
inside of the nose with a local anaesthetic and then removing a sample no bigger
than a grain of pepper. The harvested stem cells were not only readily
available but proved to be astonishingly easy to grow in the laboratory, with
millions of them forming within weeks. Down the track, once all the required
trials are carried out - which could take at least another five years - it might
well be possible for a healthy person to have his olfactory stem cells
harvested, a mildly uncomfortable process that takes barely 10 minutes, grown in
a lab and then frozen for injection years later into -- to give just one example
-- the withered muscles of a heart after a heart attack.
Wayne Smith, "Sweet Smell of Success," The Australian, March 22, 2005 ---
http://www.theaustralian.news.com.au/common/story_page/0,5744,12616654^28737,00.html
More nonprofit colleges may be purchased by for-profit institutions
Sean Gallagher, a senior analyst at Eduventures, which
does research on the education industry for investors and colleges, said he is
not surprised to see an institution like Saint Mary’s turn to a place like Regis
to take over adult education programs. “Higher education is scalable and larger
providers have a huge advantage in marketing and online education,” he said.
“It’s just very difficult to develop a curriculum and manage and market it” in
adult education, when you are a small college, Gallagher said. Eduventures —
which counts both Regis and Phoenix among its clients — has predicted that more
nonprofit colleges may be purchased by for-profit institutions. That happened
this month when Bridgepoint Education, a for-profit higher education company,
bought the Franciscan University of the Prairies. But he said the same factors
that prompt that prediction may also apply to places like Regis that are big
enough to compete with the larger for-profit institutions. Officials at Saint
Mary’s said they were drawn to Regis because it is a nonprofit institution. And
Husson, the Regis administrator, said that the university’s traditional emphasis
on values and ethics shapes all its programs.
Scott Jaschik, "How to Compete," Inside Higher Ed, March 18, 2005 ---
http://www.insidehighered.com/news/2005/03/18/regis
Bob Jensen's threads on distance education programs are at
http://www.trinity.edu/rjensen/crossborder.htm
Neil J. Salkind, a professor and a book agent, offers advice on how to get a
publisher interested ---
http://www.insidehighered.com/views/2005/03/21/salkind
What is the current bid for the solutions manual and test bank of your
chosen textbook?
Wiley officials declined to release the names of those
who were sued. But they said that settlements have been reached with students at
Arizona State, Northeastern, Pennsylvania State and Wayne State Universities;
the Universities of Florida and Wisconsin at Madison; and several University of
California campuses. “This is a new form of cheating and copyright violation
with a Malthusian growth cycle,” said Roy S. Kaufman, legal director of Wiley.
Students somehow obtain the materials, copy them and then distribute several
copies, which are in turn copied and sold, he said. Even with Wiley’s efforts
of the past few months, sales of the materials are rampant, he said. On eBay,
you can find these materials by searching for “solutions manual;” there are
choices of texts in many fields and from many publishers. Science and
engineering fields seem to be particularly hot sellers, with bids for the
materials related to many books standing at more than $100.
Scott Jaschik, "A New Form of Cheating," Inside Higher Ed, March 18, 2005
---
http://www.insidehighered.com/news/2005/03/18/cheating
Vietnam Chronicles: Separating Fact from Fiction
The Vietnam War suffered famously from such home-front
confusion, and from policy confusion too. Thus "Vietnam Chronicles"
(Texas Tech University Press, 917 pages, $50) is especially welcome -- for what
it tells us about Vietnam, of course, but also for what is says about the
myth-making and misperceptions that surround any war. The book consists
primarily of recently declassified transcriptions of the weekly intelligence
updates at U.S. military headquarters in Saigon -- officially, at Military
Assistance Command, Vietnam (MACV).
James Schlesinger, "Where Myth Trumped Truth," March 18, 2005; Page W6 ---
http://online.wsj.com/article/0,,SB111110094318983000,00.html?mod=todays_us_weekend_journal
Surge in undocumented immigrants
The nation's undocumented immigrant population surged
to 10.3 million last year, spurred largely since 2000 by the arrivals of
unauthorized Mexicans in the United States, a report being released Monday
says. The population of undocumented residents in the United States increased
by about 23 percent from 8.4 million in the four-year period ending last March,
according to the analysis of government data by the Pew Hispanic Center, a
private research group. That equates to a net increase of roughly 485,000 per
year between 2000 and 2004. The estimate was derived by subtracting the number
of unauthorized immigrants who leave the United States, die or acquire legal
status from the number of new undocumented immigrants that arrive each year.
The prospect of better job opportunities in the United States than in their
native countries remains a powerful lure for many immigrants, said Pew center
director Roberto Suro, pointing to a reason often cited by other researchers.
Genaro C. Armas, Associated Press, March 21, 2005 ---
http://snipurl.com/immigrantsMarch21
Civil rights and immigrant activists say a handful
of bills in the Legislature unfairly target foreign nationals, but sponsors of
the legislation claim they're just trying to slow the flow of illegal immigrants
into Tennessee. One proposed law would require drivers license exams be given
only in English, and another would deny public benefits such as TennCare and
driving certificates to foreign nationals. One bill would prohibit immigrants
from getting any state government services if they cannot show they're in the
country legally.
WBIR, March 21, 2005 ---
http://www.wbir.com/news/news.aspx?provider=KNS&storyid=24208
Iraqi Business Women's Association
I am explaining all of this so you, the reader, may
understand how brave a woman like Tammy is. Tammy, of course, is an alias. She
is Iraqi. Tammy is President of the Iraqi Business Women Association (IBWA).
The objective of the association is to assist Iraqi women in realizing their
ambitions. Iraqi women (who live within the "red zone") are trained how to start
and run their own business. They learn how to use the computer, how to type
resumes, speak better English and so much more. It is a non-profit organization
founded in 2003. I had my first meeting with Tammy a few weeks ago. She went
through tremendous circumstances just to meet me. The purpose of the meeting was
to find out more about her organization and in what ways I could help. We
decided what they could use the most is proved and solid advice from American
women. Real women in real jobs. Real women in real businesses. Real women in
real careers. Giving them the opportunity for their minds to be opened to the
plethora of opportunities awaiting them, possibilities of being: doctors,
lawyers, store owners, restaurateurs, owning and operating manufacturing plants,
salons, distributorships,...and doesn't the list goes on?
William D. Hodges, "Iraqi Business Women's Association," Free Republic,
March 21, 2005 ---
http://www.freerepublic.com/focus/f-news/1367174/posts
Jensen Comment: Many Iraqi's, men and women, are being especially brave in
their efforts to bring a new freedom and a new economy to Iraq.
Corruption Scandal in France
Senior allies of President Jacques Chirac -- including
four former ministers -- were among nearly 50 people who appeared in court in
Paris at the start of one of France's biggest ever political corruption trials.
A total of 47 defendants -- including politicians, party officials, and
representatives of some of France's biggest building companies -- are accused of
fixing public works contracts in the Paris region in order to obtain illegal
party funding. One of several financial scandals to come to light from Chirac's
long tenure to 1995 as mayor of Paris, the affair centres on kickbacks worth
more than 70 million euros (93 million dollars) allegedly paid by the building
firms in order to secure bids to renovate secondary schools around the capital.
Under a secret arrangement that lasted from 1989 to 1997, companies funnelled
back two percent of the money paid by the regional Ile-de-France council, with
1.2 percent going to Chirac's Rally for the Republic (RPR) and its ally the
Republican party (PR), and 0.8 percent going to the Socialists (PS), according
to the prosecution.
"Chirac allies among 47 accused in major French corruption trial," AFP, March
21, 2005 ---
http://story.news.yahoo.com/news?tmpl=story&cid=1511&e=5&u=/afp/20050321/wl_afp/francejusticepolitics_050321142150
Bob Jensen's fraud updates are at
http://www.trinity.edu/rjensen/FraudUpdates.htm
Texas lawmaker proposes ban on cheerleading since it is contradictory to
sexual abstinence
"It's just too sexually oriented, you know, the way
they're shaking their behinds and going on, breaking it down," said Edwards, a
26-year veteran of the Texas House. "And then we say to them, 'don't get
involved in sex unless it's marriage or love, it's dangerous out there' and yet
the teachers and directors are helping them go through those kind of
gyrations." Under Edwards' bill, if a school district knowingly permits such a
performance, funds from the state would be reduced in an amount to be determined
by the education commissioner.
April Castro, "Lawmaker Seeks to End 'Sexy' Cheerleading," Washington Times,
March 18, 2005 ---
http://ap.washingtontimes.com/dynamic/stories/S/SUGGESTIVE_CHEERLEADING?SITE=DCTMS&SECTION=HOME
The Psychology Department: Where the hard and the soft sciences overlap
is still pretty soft
For all its flaws, neuroimaging is here to stay. No
self-respecting psych department can afford to forgo it. Of the dozen or so new
faculty members recently hired by his department, says Phillip Shaver, chairman
of psychology at the University of California, Davis, 10 use primarily
neuroimaging. Economists, political scientists and sociologists are not far
behind. As with all powerful tools, let the user beware.
Sharon Begley, "While Brain Imaging Offers New Knowledge, It Can Be an
Illusion," The Wall Street Journal, March 18, 2005; Page B1 ---
http://online.wsj.com/article/0,,SB111110678590183261,00.html?mod=todays_us_marketplace
Accounting to the rescue
Azerbaijan on the Caspian Sea has offshore oil and gas
fields and related pipelines it is currently developing with international
partners, led by BP. Central Asia's Kyrgyzstan depends on gold mines, the
largest of which is owned by Canadian-based Centerra Gold, for about 10% of its
GDP. The European Bank for Reconstruction and Development has financed these
projects and is among the international and local entities encouraging greater
transparency and improved governance in state and private enterprise across the
region. These two young states are at the vanguard of a fledgling movement
among poor nations with valuable hydrocarbon and mineral wealth to publish the
revenues received from their multinational partners. It is much hoped that
greater transparency and accountability in the resource sector will enhance
reform in other aspects of these countries' transition to market economies based
in well-functioning democracies. Revenue reporting is vital in combating
corruption and what is known as the "resource curse." Many countries seemingly
blessed with oil, gas, precious metals and minerals and other high-value
nonrenewable resources have suffered macroeconomic destabilization from huge and
rapid inflows of resource revenues, particularly for oil and gas. Some
governments have squandered such revenues. This is easily done when taxes and
royalties paid to government by mining and logging companies are not reported
publicly via the legislature as would be normal in developed democracies.
Experience shows that citizens of such countries can end up worse off than
previous generations when corrupt elites use the revenues to stifle necessary
reforms, to suppress dissent and to promote their own ethnic groups and cronies.
The result, as seen in parts of Africa in particular, can be civil unrest, even
outright war.
Jean Lemierre, "Beating the 'Resource Curse' With Transparency," The Wall
Street Journal, March 18, 2005,
http://online.wsj.com/article/0,,SB111110016176782969,00.html?mod=opinion&ojcontent=otep
Bob Jensen's threads on revenue reporting are at
http://www.trinity.edu/rjensen/ecommerce/eitf01.htm
The condition of large tails in the distribution is known as
leptokurtosis.
I bet you really wanted to know this about return distributions: This means
that there are more frequent large negative outliers than there are large
positive outliers.
Return distributions can be described by what are
known as "moments" of the distribution. Most market participants understand the
first two moments of a distribution: they identify the mean and variance of the
distribution. Often in finance, it is assumed that the returns to financial
assets follow a normal, or bell-shaped, distribution. However, this is not the
case for credit-risky assets. Credit-risky assets are typically exposed to
significant downside risk associated with credit downgrades, defaults, and
bankruptcies. This downside risk can be described in terms of kurtosis and
skewness. Kurtosis is a term used to describe the general condition that the
probability mass associated with the tails of a return distribution, otherwise
known as "outlier events," is different from that of a normal distribution. The
condition of large tails in the distribution is known as leptokurtosis. This
means that the tails of the distribution have a greater concentration of mass
(more outlier events) than what would be expected if the returns were
symmetrically distributed under a normal distribution. The skew of a
distribution is also measured relative to a normal distribution. A normal
distribution has no skew--its returns are symmetrically distributed around the
mean return. A negative skew to a distribution indicates a bias towards downside
exposure. This means that there are more frequent large negative outliers than
there are large positive outliers. This indicates a return profile biased
towards large negative returns.
Mark J.P. Anson, Frank J. Fabozzi, Moorad Chaudhry, and Ren-Raw Chen,
Credit Derivatives: Instruments, Applications, and Pricing, (Wiley,
2003, ISBN: 047146600X, Page 15)
Question
What do you ask (newly admitted MBAs to the Sloan School at MIT) students to do
before they get to campus?
Answer
We have an admit Web site, where the school loads different information for
incoming students. We offer advice on many aspects of the program -- from
recommended business attire to summer reading material. We have them fill out
Meyers-Briggs and Career Leader self-assessment tests, and we review them in a
day-long seminar during orientation.
"What Sets Sloan MBAs Apart: Career Development Director Jacqueline Wilbur
hails MIT's B-school grads for their intelligence and quirky individuality,"
Business Week, March 16, 2005 ---
http://snipurl.com/SloanNewMBAs
I won't raise my glass to this one!
Alcohol consumption accounted for 1,715 deaths among
traditional-age college students in 2001, according to a
study
released Thursday by the National Institute for Alcohol Abuse and Alcoholism.
That represents an increase of about 6 percent (after being adjusted for the
rise in the number of college-age people) from the 1,575 alcohol-related deaths
three years earlier, in 1998, according to the study, which was published in the
latest edition of the
Annual Review of Public Health. The study also found a sharp rise in the
proportion of students aged 18 to 24 who acknowledged driving drunk, to 31.4
percent in 2001 from 26.5 percent in 1998. That represents an increase in the
number of students who drove drunk over that three-year period to 2.8 million,
from 2.3 million.
Doug Lederman, "Death by Drinking," Inside Higher Ed, March 18, 2005 ---
http://www.insidehighered.com/news/2005/03/18/alcohol
The minority pool among GMAT takers is just not big enough
Like Murphy, most of the latest round of B-school
applicants are now receiving acceptance -- or rejection -- letters for this
fall. And as the offers go out, the level of minority enrollment is a pressing
concern for administrators at top schools. Enrollment of Asian Americans is
strong, at around 15% to 25% for top MBA programs. But overall enrollment of
under-represented minorities -- African Americans, Hispanics, and Native
Americans -- has remained flat at about 10% at accredited business schools,
according to the Association to Advance Collegiate Schools of Business."OUTDATED
TERM." That figure is way below those groups' share of the population.
Recruiting African Americans, who comprise 12% of the U.S. population and only
about 7% of the U.S. B-school student body, is particularly difficult. Although
the number of nonwhites taking the GMAT has steadily increased in recent years,
the number of African Americans taking the exam dropped slightly in 2003,
according to the Graduate Management Admissions Council. And some B-school
insiders fear the effort to correct the balance is about to get even more
difficult.
Francesca Di Meglio, "Building a Fire Under the Melting Pot: Top B-schools are
doing their best to boost the number of minority applicants. Trouble is, there
just aren't enough to go around," Business Week, March 16, 2005 ---
http://snipurl.com/MeltingPot
Goodnight, Peter. Goodnight, Tom. Goodnight, Dan.
Until Ted Turner ruined it. The networks' business
model never had room in its schedule for long-form news coverage. By the time
Dan Rather and Tom Brokaw retired, they were Lears in a dying kingdom, overrun
by barbarian talk-show hosts and Internet bloggers. Are we better off? The
political diversity the networks ludicrously refused to admit as a problem is
now everywhere. Cable, notably FOX, has democratized and leveled the opinion
field. For all the pious right-mindedness that gushed out of the three networks,
Barbara Walters and Lesley Stahl never had a snowball's chance of sitting in
those anchor chairs, while now most of cable's anchors seem to be women. In the
golden age of the network Anchorman, TV news was often pompous, wrong and yes,
waaay too liberal. But for all this, it brought -- it forced -- the world's most
liberal standard of free speech and discussion into some rather dark and closed
places. It was about this time that the United Nations -- chockablock with
dictators -- started holding conferences on America's "cultural imperialism." In
no small part, they meant Dan, Peter and Tom and their probing camera armies.
This week, when grand images poured out of Lebanon of a million people massed
against an occupier, it was reported by whichever cable anchor was on shift that
hour. News itself rules the kingdom now, so there's no longer much call for an
Anchorman Chronicles. Goodnight, Peter. Goodnight, Tom. Goodnight, Dan.
Daniel Henninger, "Lifting Anchor: The Last Chronicle Of Dan Rather," The
Wall Street Journal, March 18, 2005; Page A12 ---
http://online.wsj.com/article/0,,SB111110324952483100,00.html?mod=opinion&ojcontent=otep
Former Ernst & Young Tax Advisors: Caught in the Middle of a
Post-Sarbanes Client Tug-a-War
Carolyn Campbell says she decided it was time to leave
accounting firm Ernst & Young when she realized she would have to build a new
client base largely from scratch if she stayed. Ms. Campbell, 35 years old, is
an accountant whose specialty is advising large companies on local and state
taxes. For most of her career, the Big Four firm's audit clients supplied the
bulk of her work. But those jobs are harder to come by. Amid concerns of
conflicts of interest, more public companies are cutting back on giving other,
lucrative "nonauditing" assignments to their independent auditors amid concerns
of conflicts of interest. That means less work for consultants employed by Big
Four firms. In some cases, Ms. Campbell says, Ernst told her that longtime audit
clients were off-limits ... So in October Ms. Campbell, an 11-year Ernst
veteran, left her position in Houston as a senior tax manager to work for
Alvarez & Marsal LLC, a consulting firm that doesn't do audits. "I think I had a
better opportunity working for a nonaccounting firm," she says. Now she is one
of 13 former Ernst consultants at the center of a lawsuit that Ernst filed last
month in a New York state court in Manhattan, accusing Alvarez & Marsal of
raiding its tax and real-estate divisions' personnel, poaching its clients,
interfering with its business and misappropriating confidential information.
Alvarez says it hasn't engaged in any improper conduct and argues that the suit
is a sign of the accounting industry's struggle to adjust to the post-Enron
Corp. world.
Jonathan Weil, "In Post-Enron World, Accounting Firms Fight Over the Pieces,"
The Wall Street Journal, March 18, 2005, Page C1 ---
http://online.wsj.com/article/0,,SB111109239427082751,00.html?mod=todays_us_money_and_investing
Bob Jensen's threads on auditor independence and professionalism are at
http://www.trinity.edu/rjensen/fraud001.htm#Professionalism
The new Foucault Society
The Foucault Society is involved in the study and
application of Michel Foucault's ideas within a contemporary context and to open
up a discourse to the widest possible audience. The Society's new website
serves as a resource for information, news, and events. It is designed to serve
as a means of exchanging ideas about the works of Michel Foucault.
Foucault Society ---
http://www.foucaultsociety.org/
I dream of the intellectual destroyer of evidence
and universalities, the one who, in the inertias and constraints of the present,
locates and marks the weak points, the openings, the lines of power, who
incessantly displaces himself, doesn't know exactly where he is heading nor what
he'll think tomorrow because he is too attentive to the present.
Michel Foucault, "The End of the Monarchy of Sex" from Foucault Live:
Interviews, 1966-1984, tr. John Johnston, ed. Sylvere Lotringer (New
York: Semiotext(e), 1989), p. 155.
The English have been watching too much U.S. television: Take a flying
leap in legal lotto
A teenage criminal who received £567,000 in
compensation after falling through a roof while trespassing boasted about his
wealth yesterday, saying that he was looking forward to buying "a few houses and
a flash car". I deserve this money and I don't care what anybody says about
me," he said. "I'm going to buy a big house so I have a place to live with me
mum when she gets out of jail. I might buy a few houses - I'll buy whatever I
want." He added: "The papers just call me a yob and a thug because I've been
done for robbery and assault but those were just silly stupid little things,
like. "I want to spend my money the way I want without people interfering and I
want to have a prosperous future."
Peter Zimonjic, "I'll buy houses and a flash car, says yob awarded £567,000,
Telegraph-News, March 2, 2005 ---
http://news.telegraph.co.uk/news/main.jhtml?xml=/news/2005/03/20/nyob20.xml
It is easy to ask questions about
technology; it is more difficult to ask the right questions. Only by asking the
right question will we get the right answer.
Diana Oblinger ---
http://www.educause.edu/apps/er/erm05/erm05211.asp
This is a nice and concise software review for creating Web pages and Web
sites
Click here to view the Comparison Chart. (pdf) ---
http://i.cmpnet.com/techlearning/archives/2005/03/05.03.Reviews_chart%20only.pdf
New Cell
Phone Virus
Two weeks ago, antivirus companies
discovered
CommWarrior,
the first significant mobile-phone worm to be released "in
the wild." The previous phone viruses you might have heard
about were all pretty harmless.
Cabir,
which also made the news last month, uses Bluetooth to hop
from one phone to others physically nearby. As
Slate
explained,
that technique limits the virus's ability to spread
quickly—for Cabir to propagate, it has to be within 30 feet
of a vulnerable Bluetooth phone. CommWarrior is far more
contagious. When it invades your phone, the worm rifles
through your contacts list and mails a copy of itself to
victims as a "multimedia message." That's a classic
social-engineering trick: When a message comes from a
friend, you're much more likely to open it and get infected.
Besides passing itself along to the next guy, CommWarrior
doesn't do much. The virus' only payload is a flashing
message—"OTMOP03KAM HET!"—that translates as "No to brain-deads!"
in Russian.
Clive Thompson, "The Perfect Worm: Coming soon, a cell-phone
virus that will wreck your life," Slate, March
22, 2005 ---
http://slate.msn.com/id/2115118/ |
|
Is your university missing out on an opportunity for a
$1,000,000 science teacher?
Because the emphasis of the Hughes awards is on programs that
could be spread nationally, the impact may be seen soon on
campuses without their own “million dollar professors.” And if
you missed out last time, there’s a chance to join that elite
group. The institute is now
accepting
nominations for a second group of awards — again, up to 20
people will receive $1 million. For a good example of how
$1 million can change things, talk to
Jo Handelsman,
a professor of plant pathology at the University of Wisconsin at
Madison. With her grant, she is focusing on two projects, both
of which involve evangelizing on new approaches to science
education that will be felt far from Madison. One project
involves changing how graduate students and postdocs learn to
teach, so that they start their careers with better techniques
than they experienced as undergraduates. The other project
involves an intense Madison seminar over the summer to help
teams of professors learn to revamp their introductory biology
courses.
Scott Jaschik, "A Scientific (Teaching) Revolution,"
Inside Higher Ed, March 23, 2005 ---
http://www.insidehighered.com/news/2005/03/23/hughes
Education lags technology: "The enemy is us"
Meanwhile, we’ve reached a critical juncture in our
institutional commitments to educational technology. Advances in networking and
software design finally allow educators to do far more than merely automate the
traditional lecture course. Over the last several years, higher education
leaders have outfitted their campuses with fat pipelines and high-speed
connectivity. Increasingly, their students come to campus equipped with the
latest in commercially available PCs and laptops. Hard drives are bigger,
graphics accelerators speed up 3D image display, and faster processing chips
simulate real-world physics with relative ease.
Marilyn M. Lombardi, "Standing on the Plateau," EDUCAUSE Review, vol. 40,
no. 2 (March/April 2005): 68–69 ---
http://www.educause.edu/apps/er/erm05/erm0528.asp
Education in the distant future
I believe we are headed to a more individualized and
learner-centered model of higher education. I envision students having a
voluminous menu of postsecondary education options and mixing and matching among
these options throughout their adult lives. I see the combination of brain
research and software development producing learning materials and pedagogical
methods geared to each student’s learning style. And I suspect the profusion of
learners choosing among the plentitude of postsecondary options, each offering
education in its own fashion, will cause those of us in higher education to
deemphasize degrees in favor of competencies. At the same time, I worry that
colleges and universities will be left out of these changes because our
governance processes are so slow and the new technologies represent such a sharp
departure from the notion of the personalized education of the ideal
college—described in 1871 by U.S. President (and Williams College alumnus) James
A. Garfield as having Mark Hopkins, the nineteenth-century president of Williams
College, on one end of a log and a student on the other.
Arthur Levine, "All That Glitters," EDUCAUSE Review, vol. 40, no. 2
(March/April 2005): 8–9 ---
http://www.educause.edu/apps/er/erm05/erm0525.asp
Educators should place a higher priority on interdisciplinary perspectives
In 1981, Boyer, who was then president of the Carnegie
Foundation, and Levine, who would become president of Teacher's College at
Columbia University, argued that educators place a higher priority on
interdisciplinary perspectives and move to more holistic teaching methods. They
asserted that intellectual and social forces were pushing faculty to become
narrowly committed to their core disciplines at the expense of undergraduate
education.
Rita Jordan, Professor and Head, Department of Management, U.S. Air Force
Academy, AACSB eNewsline --- http://www.aacsb.edu/publications/enewsline/Vol-4/Issue-3/dc-jordan.asp
Some accounting professors may want to dust off their old green eyeshades
"We beg, we borrow, we steal, we grovel, we scour the
world" to find accountants with five-plus years of experience in public
accounting, says Mark Friedman, New York-based managing director and head of
U.S. experienced recruitment at PricewaterhouseCoopers. Hiring across the board
at the firm is running nearly 30% above the levels of last year, he says.
Recruiters estimate that pay is up 10% or more. The base salary for a junior
partner with 10 to 12 years' experience, one recruiter says, is $500,000.
Experienced team leaders can command 20% more than a year ago, as can those with
expertise in forensic accounting, in which accountants look for financial
missteps and figure out how to fix what went wrong.
Suzanne McGee, "CPA Recruitment Intensifies As Accounting Rules Evolve," The
Wall Street Journal, March 22, 2005; Page B6 ---
http://online.wsj.com/article/0,,SB111145137773485691,00.html?mod=todays_us_marketplace
Bob Jensen’s threads on accountancy careers are at
"Next-Generation Educational Software: Why We Need It and a Research Agenda
for Getting It," by Andries van Dam, Sascha Becker, and Rosemary Michelle
Simpson, EDUCAUSE Review, vol. 40, no. 2 (March/April 2005): 26–43 ---
http://www.educause.edu/apps/er/erm05/erm0521.asp
The dream of universal access to high-quality,
personalized educational content that is available both synchronously and
asynchronously remains unrealized. For more than four decades, it has been
said that information technology would be a key enabling technology for
making this dream a reality by providing the ability to produce compelling
and individualized content, the means for delivering it, and effective
feedback and assessment mechanisms. Although IT has certainly had some
impact, it has become a cliché to note that education is the last field to
take systematic advantage of IT. There have been some notable successes of
innovative software (e.g., the graphing calculator, the Geometer’s
Sketchpad, and the World Wide Web as an information-storage and -delivery
vehicle), but we continue to teach—and students continue to learn—in ways
that are virtually unchanged since the invention of the blackboard.
There are many widely accepted reasons
for the lack of dramatic improvement:
- Inadequate investment in
appropriate research and development of authoring
tools and new forms of content
- Inadequate investment in the
creation of new dynamic and interactive content
that takes proper advantage of digital hypermedia and
simulation capabilities (as opposed to repurposed print
content) at all educational levels and across the spectrum
of disciplines
- Inadequate investment in
appropriate IT deployment in schools (e.g.,
although PCs are available in K-12, there are too few of
them, they are underpowered, and they have little content
beyond traditional “drill-and-kill” computer-aided
instruction, or CAI; at the postsecondary level there is
more availability of computers and software, plus routine
use of the Internet, but still a dearth of innovative
content that leverages the power of the medium)
- Inadequate support for teacher
education in IT tools and techniques and for the
incorporation of IT-based content into the curriculum
- The general conservatism
of educational institutions
|
Despite this disappointing record, we remain
optimistic. The dramatic advances in hardware technology, especially during
the last decade, provide extraordinary new capabilities, and the desire to
“do something” to address the need for lifelong, on-demand learning is
finally being widely recognized. The ubiquity and accessibility of the
Internet has given rise to a new kind of learning community and environment,
one that was predicted by Tim Berners-Lee in his 1995 address to the
MIT/Brown Vannevar Bush Symposium1 and that John Seely Brown elaborated into
the rich notion of a learning ecology in his seminal article “Growing Up
Digital: How the Web Changes Work, Education, and the Ways People Learn.”2
There is great hope that this emergent learning environment will in time
pervade all organizations, binding learners and teachers together in
informal, ever-changing, adaptive learning communities.
Here we will first recapitulate some well-known
technology . . .
Continued in article
There is an apparent disconnect between the culture of library
organizations and that of Net Gen students
The University of Southern California’s Leavey Library
logged 1.4 million visits last year.1 That remarkable statistic illustrates how
much a library can become part of campus life if it is designed with genuine
understanding of the needs of Net Generation (Net Gen) students. This
understanding relates not just to the physical facility of the library but to
all of the things that a library encompasses: content, access, enduring
collections, and services. Libraries have been adjusting their collections,
services, and environments to the digital world for at least 20 years. Even
prior to ubiquitous use of the Internet, libraries were using technology for
access to scholarly databases, for circulation systems, and for online catalogs.
With the explosion of Internet technology, libraries incorporated a wide array
of digital content resources into their offerings; updated the network, wiring,
and wireless infrastructures of their buildings; and designed new virtual and
in-person services. However, technology has resulted in more modernization than
transformation. There is an apparent disconnect between the culture of library
organizations and that of Net Gen students. This chapter will explore how
libraries might better adapt to the needs of Net Gen students in a number of
specific areas.
"Net Generation Students and Libraries," by Joan K. Lippencott,
EDUCAUSE Review, vol. 40, no. 2 (March/April 2005)
You can forward your own slang
A monster online dictionary of the rich colourful
language we call slang... all from a British perspective, with new slang added
every month. If you are unable to immediately find the term you are looking for,
try the slang search. A short essay giving an outline of the parameters of this
site and brief information on slang can be accessed on the introduction page
---
http://www.peevish.co.uk/slang/index.htm
(Forwarded by David Coy)
Reducing pollution is a priority in China
A solar-energy collecting tube invented by a professor
at Tsinghua University could make solar power more practical. The glass vacuum
heat collector has an aluminum nitride coating that absorbs solar energy. Each
of the coating’s multiple layers absorbs a different wavelength of light,
turning it into heat. The collector can capture 50 to 60 percent of incoming
solar energy, which can then be used to heat water or air. Tsinghua has applied
for more than 30 patents on the device, which is already offered commercially in
China, Switzerland, Japan, and Germany. In another energy efficiency
project, the research group for clean-energy automobiles at the College of
Automotive Engineering at Shanghai Tongji University is developing what it
calls the “Chunhui” (or “Spring Sunlight”) series of cars, which have
independent electric drives for each of their four wheels. The Chunhui cars are
powered by lithium batteries and hydrogen fuel cells; their only emission is
water vapor.
Elsie Chan, "China," MIT's Technology Review, April 2005 ---
http://www2.technologyreview.com/articles/05/04/issue/feature_gp_china.asp?trk=nl
Also see "Nuclear Power Is the Answer To China's Energy Needs ," by Canice
Chan, The Wall Street Journal, March 22, 2005 ---
http://online.wsj.com/article/0,,SB111144723579485592,00.html?mod=opinion&ojcontent=otep
Just another day on the fraud beat
The Securities and Exchange Commission slapped Time
Warner Inc. with a $300 million fine, its second-biggest fine in history, and
issued a stinging rebuke of the company's conduct, capping a three-year
investigation into accounting practices at the media titan . . . The SEC
yesterday filed a complaint against Time Warner, at the same time it announced
the settlement, that charged Time Warner with overstating online advertising
revenue and the number of AOL's Internet subscribers, as well as aiding and
abetting three other securities frauds. It also charged Time Warner with
violating a cease-and-desist order against the America Online division issued in
2000. "Some of the misconduct occurred while the ink on a prior commission
cease-and-desist order was barely dry," said SEC Director of Enforcement Stephen
M. Cutler in a statement. "Such an institutional failure calls for strong
sanctions."
Julia Angwin, "SEC Fines Time Warner $300 Million," The Wall Street Journal,
March 22, 2005; Page A3 ---
http://online.wsj.com/article/0,,SB111142076929485150,00.html?mod=todays_us_page_one
Bob Jensen's threads on revenue accounting are at
http://www.trinity.edu/rjensen/ecommerce/eitf01.htm
Median GMAT scores in accredited institutions --- http://www.aacsb.edu/publications/enewsline/Vol-4/Issue-3/dd-mediangmatchart.asp
It may no longer be based solely on merit at Cal: Top finalists may
not get scholarhips
Faculty committee at the University of California says
that the way the National Merit Scholarship Program chooses winners is unfair
and that its practice of giving scholarships regardless of need is "contrary to
U.C. standards and philosophy." Eligibility for merit scholarships is
determined solely by scores on the Preliminary SAT exam, formally the PSAT/NMSQT.
Of more than 1.3 million 11th-grade students who take the exam each year, about
16,000 are chosen as Merit semifinalists. The National Merit Scholarship
Corporation, a nonprofit company in Evanston, Ill., then uses student essays,
high school records, recommendations from school principals and scores from a
second test, the SAT, to reduce the pool to 15,000 finalists.
Karen W. Arenson, "Faculty Panel at Cal Faults Way to Pick Merit Scholars,"
The New York Times, March 22, 2005 ---
http://www.nytimes.com/2005/03/22/education/22merit.html?oref=login
From the land of the not-so-free
Yet another battle in the ongoing war between Chinese
authorities and Internet freedoms has culminated with Beijing's Tsinghua
University online-discussion forum being closed to non-students. Off-campus
users, such as alumni, made up a large portion of the site's visitors, so the
decision's impact will not be small. But this incident just shows once again
that Chinese netizens will not be easily defeated. What is most notable
about this recent repression attempt has been the Chinese reaction: The
restriction of Tsinghua's forum has been followed by reports of protests, both
virtual and real. Messages protesting the closing off of the forum have spread
through the Chinese blogosphere, and there are photos circulating on the
Internet that claim to be of protests by Tsinghua students.
"Another Chinese Internet Battle," The Wall Street Journal, March
23, 2005 ---
http://online.wsj.com/article/0,,SB111153019822086799,00.html?mod=opinion%5Fmain%5Feurope%5Fasia
Tax craziness in Michigan
The better course would be for Michigan legislators to approve tax cuts for
manufacturers, dump the job-destroying tax hikes, and balance the state budget
with spending restraint. Better yet, they could finish the job that was started
under previous Governor John Engler of phasing down, and eventually phasing out,
the SBT. In the meantime, there's a perverse logic in Ms. Granholm's
belief that her plan will create new jobs by cutting taxes on the industries
that are laying off workers and raising taxes on the professional service
industries that actually are hiring them. The Granholm plan may well keep
Michigan Number One -- in high taxes, business relocations, and job losses.
"Michigan Is for Taxers," The Wall Street Journal, March 23, 2005; Page
A14 ---
http://online.wsj.com/article/0,,SB111153958769787116,00.html?mod=todays_us_opinion
Tune in digitally at MSU
The campus radio station at Michigan State University
now broadcasts digital, high-definition signals, making it one of the first
university stations to use the emerging technology. Currently there are about
200 primarily commercial stations around the United States broadcasting
high-definition signals, which are much clearer than analog signals.
High-definition receivers are finding their way into homes and cars, and major
broadcasting companies are reportedly considering upgrading another 1,500
stations to use digital transmitters. Digital transmissions also add a data
component that can include information such as song title or cover art from a
song’s album. Gary A. Reid, general manager of Michigan State’s station, said he
looks forward to experimenting with the data signal to learn what uses might be
appropriate or valuable to the community, such as campus news, sports scores, or
weather. Michigan State bought the digital transmitter when its analog
transmitter was failing, and Reid said the digital transmitter, which cost
$90,000, cost only about $20,000 more than a comparable analog unit.
Chronicle of Higher Education ---
http://chronicle.com/prm/weekly/v51/i15/15a03102.htm
Also see
http://www.educause.edu/apps/er/erm05/erm0524.asp
The French will be utterly exhausted
After weeks of angry debate and street protests, French
lawmakers effectively dismantled the country's 35-hour workweek by voting to
allow employers to increase working hours. The National Assembly yesterday
approved a bill permitting employers to negotiate deals with staff to increase
working time by 220 hours a year in return for better pay. The bill effectively
clears the way for the gradual erosion of the 35-hour week, a flagship policy of
the former Socialist-led government that gave many people more time off but
added to concerns about France's declining competitiveness.
Associated Press, "French No Longer Entitled to 35-Hour Workweek," The Wall
Street Journal, March 23, 2005; Page A13 ---
http://online.wsj.com/article/0,,SB111150639516786335,00.html?mod=todays_us_page_one
Forget steroid abuse among athletes: The bad addiction is donuts
Miami Heat star Shaquille O'Neal will testify before a Congressional committee
investigating rumors of widespread doughnut abuse in the National Basketball
Association, the chairman of the committee confirmed today. With a new
study showing that 200 out of 426 NBA players are overweight, the probe into
doughnut abuse is "long overdue" said Rep. Tom Davis (R-VA), chairman of the
House Government Reform Committee.
Andy Borowitz, "Krispy Kreme calls government hearings a ‘witch-hunt’,"
Jewish World Review, March 23, 2005 ---
http://www.jewishworldreview.com/0305/borowitz032305.php3
Not so carefully researched
Begin with the simplest errors of fact. The aggregate
value of global trade was not $4 billion when President Clinton took office; it
was $4 trillion, according to the OECD. The Palestinians have not had "several"
prime ministers since 2003; they've had two. Richard Perle has never been a
member of the Bush administration. The Iraqi National Museum was not
significantly looted in April 2003; Britain's leftist Guardian newspaper put
paid to that legend in 2003. Israelis did not support the dovish Geneva Accords
by 53.3%; the actual figure was 31%, while a plurality of 38% opposed them. The
Soviet Union collapsed in 1991 not 1989. Trivia, really, but when Ms. Soderberg
snickers about how candidate Bush struggled through a foreign-policy pop quiz in
2000, one is compelled to snicker back. Next are larger, but equally
basic, errors of analysis. "It is now believed that [Abu Musab] Zarqawi operates
independently, and even in competition with bin Laden." She must have missed
Zarqawi's declaration of fealty to Osama bin Laden in October. (Bin Laden
certainly noticed it: He recently ordered Zarqawi to widen the scope of his
efforts beyond Iraq.) "While [Ahmed] Chalabi was popular in certain powerful
circles in Washington, he had virtually no support in Iraq." Funny, then, that
Mr. Chalabi did well enough in January's elections to be in serious contention
for the premiership. "The war in Iraq drew the Bush administration's focus away
from Afghanistan during the critical two years following the overthrow of the
Taliban, making the job there infinitely harder." Infinitely? Ten million Afghan
voters missed that nuance.
Brett Stephens' review of The Superpower Myth, by Nancy Soderberg (John
Wiley & Sons, 404 pages, $27.95), The Wall Street Journal, March 22, 2005
---
http://online.wsj.com/article/0,,SB111144763489585598,00.html?mod=opinion&ojcontent=otep
Five children in critical condition with kidney
failure may have picked up a rare infection at petting zoos, health officials
said.
"State Probes Kidney Failure In Children After Petting Zoos," Local6.com,
March 23, 2004 ---
http://www.local6.com/news/4309606/detail.html
Put it in writing in the form of a living will or advance medical
directive.
There is a lesson for all of us in the tragic Schiavo
case: if you want to exclude politicians from the end-of-life decisions you and
your family must make regarding a terminally-ill loved one or, as in the case of
Terri Schiavo, a family member who has suffered a catastrophic accident; if you
don't want to be used as a political cause celebre by political and religious
organizations - express your end-of-life views to your family and loved ones
and, better, put it in writing in the form of a living will or advance medical
directive.
"ACLU of Florida Welcomes Judge Whittemore’s Ruling in the Schiavo Case," ACLU,
March 22, 2005 ---
http://www.aclu.org/Privacy/Privacy.cfm?ID=17800&c=27
Jensen Comment: In spite of my not agreeing with the ACLU on some issues,
this is good advice. And it's important for all adults to declare their
wishes at any age rather than wait until they are senior citizens.
Murder and Rape in the Name of Honor?
Known cases of murder and rape committed to protect a
family's honour are on the rise across Europe, forcing police to explore the
reasons behind such crimes and how to stop them, officials said At a
two-day conference in London, British police spearheaded a campaign to fight
so-called honour-based violence, typically committed against women to protect a
family's reputation. The problem is greatest in Islamic communities in Southeast
Asia, the Middle East and Africa, but it has spread as families migrate,
bringing their traditional values with them.
"Cases of 'honour crimes' on the rise across Europe: British police," Yahoo
News, March 22, 2005 ---
http://news.yahoo.com/news?tmpl=story&u=/afp/20050322/wl_uk_afp/britaincrimeislam
We will provide the sniper rifles and cannons to kill us
Fifteen years ago, Osama bin Laden sent one of his
operatives to the United States to buy and bring back two-dozen .50-caliber
rifles, a gun that can kill someone from over a mile away and even bring down an
airplane. In spite of all the recent efforts to curb terrorism, bin
Laden could do the same thing today, because buying and shipping the world’s
most powerful sniper rifle is not as difficult as you might think
Ed Bradley, "Buying Big Guns? No Big Deal," CBS Sixty Minutes, March 23,
2005 ---
http://www.cbsnews.com/stories/2005/03/18/60minutes/main681562.shtml
Make every word a hyperword?
A researcher at University College London wants to change the basic functioning
of the Web, allowing readers of Web pages to change those pages—similar to wikis—and
making every word a “hyperword.” The Liquid Information project is the
brainchild of Frode Hegland, who is collaborating with Doug Engelbart, inventor
of the computer mouse. Hegland's vision of the Web is one in which consumers of
content can also be producers of content. Users would be able to make
connections, add links, and change the way information is presented. On an
example page, Hegland has modified a CNN Web page such that users can hover over
any word to display a menu of choices, including getting a definition of the
word, performing a Google search for the word, and highlighting instances of the
word in various colors. Hegland said that we need to replace the current Web,
which consists of “handmade, one-way links” with what he calls “deep legibility”
so that users can “make connections, explicit or otherwise.” Hegland conceded
that a Web like the one he envisions would require smart users. But, he added,
“people are pretty smart. The days of baby steps when everything is shown to
users are over.”
Wired News ---
http://www.wired.com/news/culture/0,1284,66382,00.html
Archives of Tidits: Tidbits Directory ---
http://www.trinity.edu/rjensen/TidbitsDirectory.htm
Humor of the Week
Forwarded by Paula
To commemorate her 69th birthday on October 1, actress/vocalist Julie Andrews
made a special appearance at Manhattan's Radio City Music Hall Julie for the
benefit of the AARP. One of the musical numbers she performed was "My
Favorite Things" from the legendary movie "Sound Of Music."
The lyrics of
the song were deliberately changed for the entertainment of her "blue hair"
audience.
Here are the lyrics she recited:
Maalox and nose drops and needles for knitting,
Walkers and handrails and new dental fittings,
Bundles of magazines tied up in string,
These are a few of my favorite things..
Cadillacs and cataracts and hearing aids and glasses,
Polident and Fixodent and false teeth in glasses,
Pacemakers, golf carts and porches with swings,
These are a few of my favorite things.
When the pipes leak,
When the bones creak,
When the knees go bad
I simply remember my favorite things,
And then I don't feel so bad.
Hot tea and crumpets, and corn pads for bunions,
No spicy hot food or food cooked with onions,
Bathrobes and heat pads and hot meals they bring,
These are a few of my favorite things.
Back pains, confused brains, and no fear of sinnin',
Thin bones and fractures and hair that is thinnin',
And we won't mention our short shrunken frames,
When we remember our favorite things.
When the joints ache,
when the hips break,
When the eyes grow dim,
Then I remember the great life I've had,
And then I don't feel so bad.
Ms. Andrews received a standing ovation from the crowd that lasted over four
minutes and repeated encores.
Forwarded by Barb Hessel
A man, his wife, and his mother-in-law went on vacation to the
Holy Land. While they were there the mother-in-law passed away. The undertaker
told them, "You can have her shipped home for $5,000, or you can bury her
here in the Holy Land for $150.00."
The man thought about it for a minute and then told him he would
just have her shipped home.
The undertaker asked, "Why? Why would you spend $5,000 to
ship your mother-in-law home, when it would be wonderful to spend only $150.00
to have her buried here?"
The man said, "A man died here 2000 years ago, he was
buried here and three days later he rose from the dead. I just can' t take that
chance."
Forwarded by Auntie Bev
PARENT - Job Description
This is hysterical. If it had been
presented this way, none of us would have done it!!!!
POSITION : Mom, Mommy, Mama, Ma
Dad, Daddy, Dada, Pa
JOB DESCRIPTION :
Long term, team players needed, for challenging permanent work in an, often
chaotic environment. Candidates must possess excellent communication and
organizational skills and be willing to work variable hours, which will include
evenings and weekends and frequent 24 hour shifts on call. Some overnight travel
required, including trips to primitive camping sites on rainy weekends and
endless sports tournaments in far away cities! Travel expenses not reimbursed.
Extensive courier duties also required.
RESPONSIBILITIES :
The rest of your life. Must be willing to be hated, at least temporarily, until
someone needs $5. Must be willing to bite tongue repeatedly. Also, must possess
the physical stamina of a pack mule and be able to go from zero to 60 mph in
three seconds flat in case, this time, the screams from the backyard are not
someone just crying wolf. Must be willing to face stimulating technical
challenges, such as small gadget repair, mysteriously sluggish toilets and stuck
zippers. Must screen phone calls, maintain calendars and coordinate production
of multiple homework projects. Must have ability to plan and organize social
gatherings for clients of all ages and mental outlooks. Must be willing to be
indispensable one minute, an embarrassment the next. Must handle assembly and
product safety testing of a half million cheap, plastic toys, and battery
operated devices. Must always hope for the best but be prepared for the worst.
Must assume final, complete accountability for the quality of the end product.
Responsibilities also include floor maintenance and janitorial work throughout
the facility.
POSSIBILITY FOR ADVANCEMENT &
PROMOTION :
None. Your job is to remain in the same position for years, without complaining,
constantly retraining and updating your skills, so that those in your charge can
ultimately surpass you
PREVIOUS EXPERIENCE :
None required unfortunately. On-the-job training offered on a continually
exhausting basis.
WAGES AND COMPENSATION :
Get this! You pay them! Offering frequent raises and bonuses. A balloon payment
is due when they turn 18 because of the assumption that college will help them
become financially independent. When you die, you give them whatever is left.
The oddest thing about this reverse-salary scheme is that you actually enjoy it
and wish you could only do more.
BENEFITS :
While no health or dental insurance, no pension, no tuition reimbursement, no
paid holidays and no stock options are offered; this job supplies limitless
opportunities for personal growth and free hugs for life if you play your cards
right.
Forwarded by Neal Hannon
(apologies to Sam Cooke)
Bernie’s “Wonderful World”
Don’t know much about ac-coun-ting
Don’t know much about the SEC
Don’t know much about the techie stuff
Don’t know what an adjusting entry is for
But I do know one and one is two
And I just want …to be with you
What a wonderful world it would be
Don’t know much about the quarterlies
Don’t know much about the finance team
Don’t know much about missing billions
Don’t know what an auditor’s report means
But I do know that I bought more stock
Even when the price was sinking fast
What a wonderful world it’s supposed to be
Now, I don’t claim to be an A student
I just was trying to coach
But maybe by being an A student baby
I could win an appeal for me
Forwarded by Don Mathis
Very clever stuff...no doubt it was thought up by a bored engineer...
1. Ratio of an igloo's circumference to its diameter = Eskimo Pi
2. 2000 pounds of Chinese soup = Won ton
3. 1 millionth of a mouthwash = 1 microscope
4. Time between slipping on a peel and smacking the pavement = 1 bananosecond
5. Weight an evangelist carries with God = 1 billigram
6. Time it takes to sail 220 yards at 1 nautical mile per hour= Knotfurlong
7. 365.25 days of drinking low calorie beer = 1 Lite year
8. 16.5 feet in the Twilight Zone = 1 Rod Serling
9. Half a large intestine = 1 semicolon
10. 1,000,000 aches = 1 megahurtz
11. Basic unit of laryngitis - 1 hoarsepower
12. Shortest distance between two jokes - a straight line
13. 453.6 graham crackers = 1 pound cake
14. 1 million phones = 1 megaphone
15. 1 million bicycles = 1 megacycles
16. 365.25 days = 1 unicycle
17. 2000 mockingbirds = two kilomockingbirds
18. 10 cards = 1 decacard
19. 52 cards = 1 deckacard
20. 1 kilogram of falling figs = 1 fig Newton
21. 1000 grams of wet socks = 1 literhosen
22. 1 millionth of a fish = 1 microfiche
23. 1 trillion pins = 1 terrapin
24. 10 rations = 1 decaration
25. 100 rations = 1 C-ration
26. 2 monograms = 1 diagram
*27. 4 dimes = 2 paradigms
28. 2.4 statute miles of intravenous surgical tubing at Yale University
Hospital = 1 I.V. League
Forwarded by Cindy
Jacques Chirac, the French Prime Minister, was sitting in his
office wondering what kind of mischief he could perpetrate against
the United States when his telephone rang.
"Hallo, Mr. Chirac!" a heavily accented voice said. "This is
Paddy down at the Harp Pub in County Sligo, Ireland. I am ringing to inform ya
that we are officially declaring war on ya!" "Well, Paddy,"
Chirac replied, "this is indeed important news! How big is your army?"
"Right now," said Paddy, after a moment's calculation, "there
is meself, me cousin Sean, me next door neighbor Seamus, and the entire dart
team from the pub. That makes eight!"
Chirac paused. "I must tell you, Paddy, that I have one hundred thousand
men in my army waiting to move on my command."
"Begorra!" said Paddy. "I'll have to ring ya back!"
Sure enough, the next day, Paddy called again. "Mr. Chirac,
the war is still on. We have managed to get us some infantry
equipment!" "And what equipment would that be,
Paddy?" Chirac asked.
"Well, we have two combines, a bulldozer, and Murphy's farm
tractor." Chirac sighed, amused. "I must tell you, Paddy, that I have
6,000 tanks and 5,000 armored personnel carriers. Also, I've increased my army
to one hundred fifty thousand since we last spoke."
Saints preserve us!" said Paddy. "I'll have to get back to ya."
Sure enough, Paddy rang again the next day. "Mr. Chirac, the war is
still on! We have managed to get ourselves airborne! We've modified Jackie
McLaughlin's ultra-light with a coople of shotguns in the cockpit, and four boys
from the Shamrock Pub have joined us as well!"
Chirac was silent for a minute and then cleared his throat. "I must tell
you, Paddy, that I have 100 bombers and 200 fighter planes. My military complex
is surrounded by laser-guided, surface-to-air missile sites. And since we last
spoke, I've increased my army to two hundred thousand!"
"Jesus, Mary, and Joseph!" said Paddy. "Again I'll have to
ring ya back."
Sure enough, Paddy called again the next day. "Top o' the mornin',
Mr.Chirac! I am sorry to tell ya that we have had to call off the war."
"I'm sorry to hear that," said Chirac. "Why the sudden change
of heart?" "Well," said Paddy,
"we've all had a long chat over a bunch of pints, and decided
there's no foo-kin way we can feed two hundred thousand
prisoners."
Forwarded by Auntie Bev
THE CASTAWAYS
There were two men shipwrecked on this island. The minute they go on the
island one of them started screaming and yelling, "We're going to die!
We're going to die! There's no food! No Water! We're going to die!"
The second man was propped up against a palm tree and acting so calmly it
drove the first man crazy.
"Don't you understand? We're going to die!
The second man replied, "You don't understand, I make $100,000 a
week."
The first man looked at him quite dumbfounded and asked, "What
difference does that make? We're on an island with no food and no water! We're
going to DIE!"
The second man answered, "You just don't get it. I make a $100,000 a
week and I tithe ten percent on that $100,000 a week. My pastor will find
me!"
Fowarded by Paula
FOR ALL YOU LEXOPHILES (LOVERS OF WORDS)
1. A bicycle can't stand alone because it is two-tired.
2. What's the definition of a will? (It's a dead
giveaway.)
3. Time flies like an arrow -- Fruit flies like a banana. (I
think Groucho Marx said that one.)
4. A backward poet writes inverse.
5. In a democracy, it's your vote that counts; in feudalism,
it's your count that votes.
6. A chicken crossing the road is poultry in motion.
7. If you don't pay your exorcist you get repossessed.
8. With her marriage she got a new name and a dress.
9. Show me a piano falling down a mine shaft and I'll show you
A-flat minor.
10. When a clock is hungry it goes back four seconds.
11. The man who fell into an upholstery machine is fully
recovered.
12. A grenade thrown into a kitchen in France would result in
Linoleum Blownapart.
13. You feel stuck with your debt if you can't budge it.
14. Local Area Network in Australia: the LAN down under.
15. He often broke into song because he couldn't find the
key.
16. Every calendar's days are numbered.
17. A lot of money is tainted. 'Taint yours and 'taint
mine.
18. A boiled egg in the morning is hard to beat.
19. He had a photographic memory that was never developed.
20. A plateau is a high form of flattery.
21. The short fortuneteller who escaped from prison was a small
medium at large.
22. Those who get too big for their britches will be exposed in
the end.
23. When you've seen one shopping center you've seen a
mall.
24. Those who jump off a Paris bridge are in Seine.
25. When an actress saw her first strands of gray hair she
thought she'd dye.
26. Bakers trade bread recipes on a knead to know basis.
27. Santa's helpers are subordinate clauses.
28. Acupuncture is a jab well done.
29. Marathon runners with bad footwear suffer the agony of
defeat.
Forwarded by Dick Haar
A MAN is at work one day when he notices that his co-worker is wearing an
earring. This man knows his co-worker to be a normally conservative fellow and
is curious about his sudden change in fashion sense.
The man walks up to him and says: "I didn't know you were into
earrings."
"Don't make such a big deal, it's only an earring," he replies
sheepishly.
His friend falls silent for a few minutes, but then his curiosity prods him
to say: "So, how long have you been wearing one?"
"Ever since my wife found it in my truck."
Forwarded by Auntie Bev
MONA LISA'S JEWISH MOTHER:
"This you call a smile, after all the money your father and I spent on
braces?"
CHRISTOPHER COLUMBUS' JEWISH MOTHER:
"I don't care what you've discovered, you still could have written.'
MICHELANGELO'S JEWISH MOTHER:
"Why can't you paint on walls like other children? Do you know how hard it
is to get that schmutz off of the ceiling?"
NAPOLEON'S JEWISH MOTHER (clean version):
"All right, if you're not hiding your report card inside your jacket, take
your hand out of there and show me!"
Jensen Comment: My former neighbor (Alma Short) in the country outside
Tallahassee once found a note from her son in the mail box. It read:
"Dear Momma, This is my report card. Thanks for all you've done for
me. I've run away from home."
ABRAHAM LINCOLN'S JEWISH MOTHER:
"Again with the hat! You can't wear a baseball cap like the other
kids?"
GEORGE WASHINGTON'S JEWISH MOTHER:
"Next time I catch you throwing money across the Potomac, you can kiss your
allowance good-bye!"
THOMAS EDISON'S JEWISH MOTHER:
"Of course I'm proud that you invented the electric light bulb. Now turn it
off and go to sleep already!"
PAUL REVERE'S JEWISH MOTHER:
"I don't care where you think you have to go, young man, midnight is long
past your bed-time!"
ALBERT EINSTEIN'S JEWISH MOTHER:
"But it's your senior photograph! Couldn't you have done something with
your hair?"
MOSES' JEWISH MOTHER:
"That's a good story! Now tell me where you've really been for the last
forty years!"
BILL CLINTON'S JEWISH MOTHER:
"At least Monica was a nice Jewish girl!"
Forwarded by Barb Hessel
Flying Lutern Airlines
Velcome to da Lutern Airlines! Da
latest air service to sprout up in Minnesnowta vit service to Visconsin, Nort
Dah-kota and sometimes Sout Dah-kota.
Ve are a no-frills airline. We are all
in da same boat on Lutern Air, vair flying is an uplifting experience, so
velcome aboard. I am Lena Ingvist, yer flight attendant and stewardess, tew. As
you know, dere is no first class on Lutern Airlines, airflight tew tousand
tventy tew.
Meals are pot luck: rows one tru 6 ver
to bring da lefsa; 7 tru 15, da salad, 16 tru 21, da main hot- dish, and 22-30
da rømmegrøt.
Ve vill be singing 99 bottles uv beer
on da vall, so basses and tenors pleess sit in da rear of da aircraft, and
remember everyvun is responsible for der own baggage. All fares are free-vil
offering and the plane vil not land until da budget is met.
Direct yer attention to yer flight
attendent who vill acqvaint yew wit da safety system aboard this Lutheran Tvin
Yet 599.
"Okay, den listen up; I'm only
gonna say dis vunce. In da event of sudden loss uv cabin pressure, I am frankly
gonna be real surprised, so vill Captain Olson, becuz ve vill be flying right
around 2 tousand feet, so loss of cabin pressure vud probly indicate the Second
Coming or somting of dat nature, so I vuldn't bodder vit dem little masks on dem
rubber tubes. Yer gonna have bigger tings to vorry about dan yust dat. Just
stuff dose tings back up in der littl holes. Probly da masks fell out because of
turbulence, which to be honest vit yew, ve've been flying at 2 tousand feet and
dat is sort of like driving across a plowed field, but after a vile, you vill
get used to it.
In da ewent of a vater landing, I'd say
yust fergit it. Start saying Da Lord's prayer and yust hope you have time to git
to da part about forgive us our sins as ve forgive dose who sint against us (vich
some people say "tresspass against us", vich isn't right., but den,
vat can ya dew?)
Use uf cell phones is strictly
forbidden, not becuz dey interfere vit the planes navigational system, vich, by
da vay, is "seat of the pants all da vay." No, cell phones is a pain
in da wazoo, and if God had meant yew to use dem, he vould have put yer mout on
da side of yer head, so stow dose suckers!
Ve're gonna start lunch, buffet style
vit da coffee pot up front. First, ve'll have da hymn sing; hymnals are in
da seat pocket right in front of yew. Don't take yers wit you ven you go
or I am going to be real upset wit yew, and I ain't kiddin' eeder!"
So lets say grace:
"Come Lord Jesus, be our
gest, and let dese gifts tew us be blest.
Fadder, Son and Holy Ghost,
May ve land in Dulut or pretty clos."
Amen
Tanks for flying Lutern Airlines,
flight tew tousand tventy tew.
Forwarded by Dick Wolff
Texas Versus Heaven --- http://www.houstonillini.org/a_texas_story.htm
Doesn't mention a thing about home owners' insurance.
Forwarded by a friend
The Guys' Rules
At last a guy has taken the time to write this all down. Finally, the guys'
side of the story.
We always hear "the rules" from the female side. Now here are the
rules from the male side. These are our rules! Please note... these are all
numbered "1" ON PURPOSE!
- Learn to work the toilet seat. You're a big girl. If it's up, put it down.
We need it up, you need it down. You don't hear us complaining about you
leaving it down.
- Sunday sports. It's like the full moon or the changing of the tides. Let
it be.
- Shopping is NOT a sport. And no, we are never going to think of it that
way.
- Crying is blackmail.
In the U.S. St. Pat's day
is a bigger deal than in Ireland
Forwarded by Dick Haar
McQuillan
walked into a bar and ordered martini after martini, each time removing the
olives and placing them in a jar.
When the jar was filled with olives and all the drinks consumed, the Irishman
started to leave.
"S'cuse me", said a customer, who was puzzled over what McQuillan
had done, "what was that all about?"
"Nothin', said the Irishman, "my wife just sent me out for a jar of
olives!"
*******************************************************
An
Irishman arrived at J.F.K. Airport and wandered around the terminal with tears
streaming down his cheeks. An airline employee asked him if he was already
homesick.
"No," replied the Irishman "I've lost all me luggage!"
"How'd that happen?"
"The cork fell out!" said the Irishman.
*****************************************************
An Irish priest is driving down to New York and gets stopped for speeding in
Connecticut.
The state trooper smells alcohol on the priest's breath and then sees an empty
wine bottle on the floor of the car. He says, "Sir, have you been
drinking?"
"Just water," says the priest.
The trooper says, "Then why do I smell wine?"
The priest looks at the bottle and says, "Good Lord! He's done it
again!"
***********************************************
Two Irishmen were sitting at a pub having beer and watching the brothel across
the street.
They saw a Baptist minister walk into the brothel, and one of them said,
"Aye, 'tis a shame to see a man of the cloth goin' bad."
Then they saw a rabbi enter the brothel, and the other Irishman said,
"Aye, 'tis a shame to see that the Jews are fallin' victim to temptation
as well."
Then they see a catholic priest enter the brothel, and one of the Irishmen
said, "What a terrible pity...one of the girls must be dying.
*************************************
Three Irishmen, Paddy, Sean and Seamus, were stumbling home from the pub
late one night and found themselves on the road which led past the old
graveyard..
"Come have a look over here," says Paddy, "It's Michael
O'Grady's grave, God bless his soul. He lived to the ripe old age of 87."
"That's nothing," says Sean, "here's one named Patrick O'Toole,
it says here that he was 95 when he died."!
Just then, Seamus yells out, "Good God, here's a fella that got to be
145!"
"What was his name?" asks Paddy.
Seamus stumbles around a bit, awkwardly lights a match to see what else is
written on the stone marker, and exclaims,
"Miles, from Dublin."
***************************************************
Irish
Predicament
Drunk Ole Mulvihill (From the Northern Irish Clan) staggers into a Catholic
Church, enters a confessional box, sits down but says nothing.
The Priest coughs a few times to get his attention but the Ole just sits
there.
Finally, the Priest pounds three times on the wall.
The drunk mumbles, "ain't no use knockin, there's no paper on this side
either."
***************************************************
Mary Clancy goes up to Father O'Grady's after his Sunday morning service, and
she's in tears.
He says, "So what's bothering you, Mary my dear?"
She says, "Oh, Father, I've got terrible news. My husband passed away
last night."
The priest says, "Oh, Mary, that's terrible. Tell me, did he have any
last requests?"
She says, "That he did, Father..."
The priest says, "What did he ask, Mary?"
She says, "He said, 'Please Mary, put down that damn gun!'
Forwarded by Paula
An Irishman by the name of O'Malley
proposed to his girl on St. Patrick's Day. He gave her a ring with a synthetic
diamond. The excited young lass showed it to her father, a jeweller. He took one
look at it and saw it wasn't real. The young lass,on learning it wasn't real,
returned to her future husband and protested vehemently about his cheapness.
"It was in honor of St. Patrick's
Day," he smiled. "I gave you a sham rock."
Forwarded by Dick Haar
Colonoscopies... A physician claimed that the following are actual comments
made by his patients (predominately male), while he was performing their
colonoscopies:
1. "Take it easy, Doc. You're boldly going where no man has gone
before!"
2. "Find Amelia Earhart yet?"
3. "Can you hear me NOW?"
4. "Are we there yet? Are we there yet? Are we there yet?"
5. "You know, in Arkansas, we're now legally married."
6. "Any sign of the trapped miners, Chief?"
7. "You put your left hand in, you take your left hand out..."
8. "Hey! Now I know how a Muppet feels!"
9. "If your hand doesn't fit, you must quit!"
10. "Hey Doc, let me know if you find my dignity."
11. "You used to be an executive at Enron, didn't you?"
12. "God, Now I know why I am not gay."
And the best one of them all...
13. "Could you write a note for my wife saying that my head is not up
there!
Jokes from night TV --- http://www.newsmax.com/liners.shtml
The
Unofficial Dave Barry Website --- http://www.davebarry.com/gg/misccol.htm
It's worth a look, believe me it's worth a look.
And that's the way it was on March 22, 2005 with a little help from
my friends.
Facts about the earth in real time --- http://www.worldometers.info/
Jesse's Wonderful Music for Romantics (You have to scroll down to the
titles) --- http://www.jessiesweb.com/
Free Harvard Classics --- http://www.bartleby.com/hc/
Free Education and Research
Videos from Harvard University --- http://athome.harvard.edu/archive/archive.asp
I highly recommend TheFinanceProfessor (an absolutely fabulous and
totally free newsletter from a very smart finance professor, Jim Mahar from
St. Bonaventure University) --- http://www.financeprofessor.com/
Bob Jensen's bookmarks for accounting newsletters are at http://www.trinity.edu/rjensen/bookbob1.htm#News
News Headlines for Accounting from TheCycles.com --- http://www.thecycles.com/business/accounting
An
unbelievable number of other news headlines categories in TheCycles.com are at
http://www.thecycles.com/
Jack Anderson's Accounting Information Finder --- http://www.umsl.edu/~anderson/accsites.htm
Gerald Trite's great set of links --- http://www.zorba.ca/bookmark.htm
Paul Pacter maintains the best international accounting standards and
news Website at http://www.iasplus.com/
The Finance Professor --- http://www.financeprofessor.com/about/aboutFP.html
Walt Mossberg's many answers to questions in technology --- http://ptech.wsj.com/
How stuff works --- http://www.howstuffworks.com/
Household and Other Heloise-Style Hints --- http://www.trinity.edu/rjensen/bookbob3.htm#Hints
Bob Jensen's video helpers for MS Excel, MS Access, and other helper
videos are at http://www.cs.trinity.edu/~rjensen/video/
Accompanying
documentation can be found at http://www.trinity.edu/rjensen/default1.htm and http://www.trinity.edu/rjensen/HelpersVideos.htm
Click on www.syllabus.com/radio/index.asp for a complete
list of interviews with established leaders, creative thinkers and education
technology experts in higher education from around the country.
Professor Robert E. Jensen (Bob) http://www.trinity.edu/rjensen
Jesse
H. Jones Distinguished Professor of Business Administration
Trinity
University, San Antonio, TX 78212-7200
Voice: 210-999-7347 Fax:
210-999-8134 Email: rjensen@trinity.edu
March 1, 2005
Bob
Jensen's New Bookmarks on March 1, 2005
Bob
Jensen at Trinity
University
For
earlier editions of New Bookmark
s go to http://www.trinity.edu/rjensen/bookurl.htm
Click
here to search Bob Jensen's web site if you have key words to enter --- Search
Site.
This search engine may get you some hits from other professors at Trinity
University included with Bob Jensen's documents, but this may be to your
benefit.
Facts about
the earth in real time --- http://www.worldometers.info/
Sure wish there'd be a little good news today. Think it over
http://www.inlibertyandfreedom.com/Flash/Think_It_Over.swf
Real time
meter of the U.S. cost of the war in Iraq --- http://www.costofwar.com/
Pictures from
the war --- http://www.clermontyellow.accountsupport.com/flash/UntilThen.swf
New pictures from the war --- http://209.157.64.200/focus/f-news/1291780/posts
Also see some troops who'd rather be home <http://www.clermontyellow.accountsupport.com/flash/UntilThen.swf>
"Life
is not measured by the number of breaths we take - but by the moments that take
our breath away."
Big Mud Puddles and Sunny Yellow Dandelions (turn up your
speakers)
http://members.shaw.ca/mcinnes-hume/mud_puddles__dandelions.htm
Quotations of the Week --- Click Here for
Quotations
Humor of the Week --- Click Here for
Humor
(Includes 10 things Bob Jensen did that you have never done and probably never
would do)
My threads on "Hypocrisy
in Academia and the Media" --- http://www.trinity.edu/rjensen/hypocrisy.htm
My
“Evil Empire” essay --- http://www.trinity.edu/rjensen/hypocrisyEvilEmpire.htm
My
unfinished essay on the "Pending Collapse of the
United States" --- http://www.trinity.edu/rjensen/entitlements.htm
February 18, 2005
message from Joanne Tweed [ibridges@san.rr.com]
Joanne is 76 years old!
Hi Bob,
America's seniors
are being cheated of their life's savings by securities Broker/Dealers.
SENIORS AGAINST SECURITIES FRAUD http://seniorsagainstsecuritiesfraud.com
offers supportive educational links and solutions. Please consider linking.
Most Sincerely,
Joanne Tweed
It's been
proven, there is life after death
Identity theft isn't among the risks of medical treatment -- such as infection
-- listed on the standard release form that patients sign. But there's
evidence that identity thieves are starting to target medical patients.
Kevin Helliker, "A New Medical Worry: Identity Thieves Find Ways To
Target Hospital Patients," The Wall Street Journal, February 22,
2005, Page D1 --- http://online.wsj.com/article/0,,SB110902598126260237,00.html?mod=todays_us_personal_journal
Just this weekend,
the University of Chicago Hospitals reported that a former employee had
stolen identity information from as many as 85 patients. In recent years,
rings of thieves stole the identities of more than 15 such patients in Iowa,
30 in Minnesota and nearly 50 in Indiana. During the past two years, the
state of Michigan has prosecuted more than 20 cases involving
medical-patient identity theft, many involving multiple victims, Michigan
Attorney General Mike Cox says.
Hospital patients
are vulnerable in part because they are unlikely to detect anything amiss.
Some may never leave the hospital. A team of alleged identity thieves
arrested in 2003 in New Jersey were targeting the terminally ill, according
to police.
Continued in article
The
institutions, which offer fraudulent degrees in exchange for cash and little or
no academic work, crop up overnight and disappear nearly as fast, when consumer
complaints rise or law enforcement officials catch the scent. State and federal
lawmakers yearn to crack down on these "colleges," but because they're
hard to define and hard to nail down, there's often little they can do.
"New Tools to Take On Diploma Mills: Regulating diploma mills is a
little like herding cats," Inside Higher Ed, February 2, 2005 --- http://www.insidehighered.com/insider/new_tools_to_take_on_diploma_mills
Bob Jensen's threads on diploma mills are at http://www.trinity.edu/rjensen/FraudReporting.htm#DiplomaMill
"Few companies have to tell when
identity thieves strike: Consumers don't learn they're in danger — until
the bills arrive," USA Today, February 28, 2005 --- http://www.usatoday.com/printedition/news/20050228/edit28x.art.htm
The Federal Trade Commission (FTC) received 246,570
identity theft complaints last year, and the problem actually is much worse:
9.9 million people (about one in every 30 Americans) were victims of identity
theft in a one-year period starting in spring 2002, according to an FTC
survey. Thieves use the data to get credit cards, pilfer bank accounts and
take over identities for future thefts.
Several factors give them the upper hand:
•Companies hide break-ins. Many companies
react as ChoicePoint did initially. They keep quiet after computers are
hacked, fearing lawsuits and damaged reputations.
•Police are busy elsewhere. Local police are
often reluctant to pursue cases. The amounts, while large to an individual,
seem small compared with other monetary crimes. Often the consumer lives in
one state, the thief in another. Federal authorities can act, but only about 1
in 700 cases of identity theft resulted in a federal arrest in 2002, according
to Avivah Litan, a cybercrime expert with the Gartner research firm.
•Oversight is weak. Identity theft is a
relatively new crime and, outside of California, governments haven't yet
geared up to address it. The rising industry of data brokers has little
oversight, and rules for financial institutions aren't up to the task.
The good news is that the ChoicePoint breach is
prompting several states, including Georgia, New Hampshire, New York and
Texas, to consider bills patterned on the California notification law. Several
U.S. senators are pushing a federal law.
Continued in article
Bob Jensen's threads on identity
theft and phishing are at http://www.trinity.edu/rjensen/ecommerce/000start.htm#SpecialSection
Bob Jensen's threads on Identity
Theft --- http://www.trinity.edu/rjensen/FraudReporting.htm#IdentityTheft
Cheers!
Forbes, February 10, 2005, has a slide show on the
top foods to fight depression --- http://www.forbes.com/home/health/2005/02/10/cx_mh_0210health_ls.html
The article is by Amanda Schupak and Matthew Herper and is based on a
new study from Harvard's McLean Hospital
As with any diet recommendations, it pays to read the warnings,
especially with respect to the sugar products that might cheer you up
(certainly in my case) while they also shorten your life (knowing that can
be depressing). Here is a listing of the Top Five Antidepressant Foods
in rank order, but you should go to the Forbes slide show or better
yet the Harvard study and read the fine print.
- Molasses --- like sugar beets, molasses is high in uridine
that can increase cytidine (whatever?) levels in the brain.
- Salmon (especially wild salmon) --- omega-3 fatty acids
- Sugar beets --- like molasses can increase cytidine levels in the
brain.
- Tofu or soy mild --- amino acids and omega-3 fatty acids
- Walnuts --- source of alpha linolenic acid (whatever?)
You can read more of the details in "Do
Some Foods Battle Depression?" by Miranda Hitti, February 10,
2005 --- http://my.webmd.com/content/article/100/105789.htm?printing=true
She concludes as follows:
If you suspect that you are depressed, seek
professional help. Diet may be one piece of the puzzle, but depression is
too serious to handle on your own. An abundance of help is available, from
diet and exercise to medication and counseling. All you have to do is ask.
I repeat a popular module from the February 20, 2005 edition of New
Bookmarks --- http://www.trinity.edu/rjensen/book05q1.htm#022005
Forbes Magazine has a slide
show on the ten "Best Age-Defying Foods." However, it is a
frustrating slide show because of distracting advertising pop-ups. I
endured the frustration in order to provide you with a list of the
"best" foods.
For serving sizes and suggestions
for preparation, you must watch the slide show or go to the original JAFC
study (which I don't think is online.)
This listing was ranked in order by
the Journal of Agricultural and Food Chemistry in December 2004.
- Small red beans
- Blueberries
- Red kidney beans
- Pinto beans
- Cranberries
- Artichoke hearts
- Blackberries
- Dried prunes
- Raspberries
- Strawberries
You can read Vanessa Gisquet's
commentary on why these help keep you young at http://www.forbes.com/home/health/2005/02/02/cx_vg_0202feat_ls.html
Surprise! Surprise! Texans are the big losers!
I honestly think there's more than weather to blame, especially after you
factor in relatively low labor costs north of the Rio Grande.
"The Most Expensive States To Insure Your Home 2005," Sara
Clemence, Forbes, February 25, 2005 --- http://www.forbes.com/home/realestate/2005/02/25/cx_sc_0225home.html
Texas is tops--at least when it comes to
homeowners' insurance costs.
You might guess that California, where houses go
skidding down mountains, are torched by wildfires or get rattled by
earthquakes, would be the most expensive place to insure a house. Or
Florida, which was hammered by no fewer than four major hurricanes last
year.
But in Florida, the most recent data available
from the National Association of Insurance Commissioners (NAIC) shows that
the average homeowners' premium was $786 in 2002. The average in Texas was
58% higher. California didn't even make the top ten.
The hitch? In those damage- and destruction-prone
states, earthquake, hurricane and flood insurance policies are sold
separately, and not factored into the ranking. Yet in other states, more
mundane weather events can create actuarial nightmares.
Several years ago, when Bob Hunter left Northern
Virginia to become Commissioner of Insurance in Texas, he found that his
insurance bill had doubled even though he'd bought a similar home.
"Since I was commissioner, I asked [the
company] to produce the data underlying the rates," Hunter says.
"The thing that was really different was hail and wind. The risk of
natural disaster was much greater. That caused maybe 90% of the difference
in the rates, between Northern Virginia and Austin."
Weather is a major factor in determining the
cost--and cost range--of homeowners' insurance, says Don Griffin, a vice
president at Property Casualty Insurers Association of America (PCI), a
trade association whose members write about 40% of the property and
casualty insurance policies in the United States.
"Insurance is really based on looking at the
past," says Griffin. When determining premiums, insurers look at
claim trends on a broad basis, such as state and regional levels, and as
closely as a ZIP code or even a street. Companies then begin with an
average price for premiums, depending on how expensive it has been to fill
claims in a location.
If you have a wood-framed house in an area
without fire coverage, you will pay more than someone who lives in a brick
house next to the fire station, Griffin explains. But, brick doesn't
respond well to earthquakes, tending to crack and crumble, so near the San
Andreas Fault the potential damage would be greater.
The cost of real estate and rebuilding are also
taken into account, which is one reason insurance is more expensive in
cities than in rural areas (though that probably doesn't hold true if you
live on a barrier island).
"If building material is in short supply or
there isn't an abundance of skilled labor, that's going to factor
in," says Kip Diggs, spokesman for Bloomington, Ill.-based State Farm
Insurance, the largest home insurance underwriter in the country.
In general, homeowners' insurance costs are
leveling off, says Loretta Worters, spokeswoman for the New York-based
Insurance Information Institute.
One reason is that people are maintaining their
homes better, she says. Mold damage claims haven't been as costly as
insurers had predicted.
Bob Hunter, who is now director of insurance for
Consumer Federation of America (CFA), points out that for years premiums
had increased at around the annual inflation rate. According to CFA, in
2001 homeowners' insurance rates went up by a median 7%, and in 2002 by a
median 13%. Reasons include dropping interest rates and a stock market
slump, he says. Both mean it's harder for insurance companies to make
money on their investments.
The increases dropped back down last year, to
around 4% or 5%, says Hunter. "This year we're talking back around
inflation."
But if you live in Texas, Florida or any of the
states with the expensive homeowners' premiums, don't start packing your
bags for Wisconsin--the state with the least expensive premiums--just yet.
Not every resident has to pay at the top rate. Plenty depends on how
elaborate a policy you choose, and even where you live within a particular
state. In Oregon, costs are similar whether you're in Portland or Coos
Bay, Hunter says. In Maryland, State Farm charges nearly twice as much in
Montgomery County, which butts against Washington, D.C., as in Frederick
County, which is one county north. Other companies have different premium
scales in the same area.
"Insurance companies do charge very
significantly different prices," Hunter says. "You can easily
pay 50% more if you go to the wrong company."
That's why it pays to shop around and do some
background research. Most states have free insurance-buyers' guides, and
the NAIC offers complaint ratios, as well as licensing and financial
information for different companies on its Web site ( http://www.naic.org/
). Besides that, you don't necessarily get what you pay for.
"Our research shows that you don't have to
pay more to get good service," Hunter says. "Some of the
least-expensive companies have the best service."
Homicide Rates Nationally and Internationally
Question
If you exclude nations at war, what nations have the highest versus the
lowest homicide rates?
What European nation has the highest (lowest) homicide rate?
What states in the United States have the highest homicide rates.
Answers
In spite of hearing a lot about murder rates in large U.S. cites (mostly in
the blue states politically), the highest murder rates are in the southern
states according the the FBI.--- http://www.bls.gov/opub/cwc/sh20031119ar01p1.htm
Other answers are given at Gun Site on October 18, 2003 --- http://www.guncite.com/gun_control_gcgvinco.html
International Homicide Rate Table (Death rates are
per 100,000)
| Country |
Year |
Population |
Total Homicide |
Firearm Homicide |
Non-Gun Homicide |
% Households With Guns |
| South Africa |
1995 |
41,465,000 |
75.30 |
26.60 |
48.70 |
n/a |
| Colombia |
1996 |
37,500,000 |
64.60 |
50.60 |
14.00 |
n/a |
| Estonia |
1994 |
1,499,257 |
28.21 |
8.07 |
20.14 |
n/a |
| Brazil |
1993 |
160,737,000 |
19.04 |
10.58 |
8.46 |
n/a |
| Mexico |
1994 |
90,011,259 |
17.58 |
9.88 |
7.70 |
n/a |
| Philippines |
1996 |
72,000,000 |
16.20 |
3.50 |
12.70 |
n/a |
| Taiwan1 |
1996 |
21,979,444 |
8.12 |
0.97 |
7.15 |
n/a |
| N. Ireland |
1994 |
1,641,711 |
6.09 |
5.24 |
0.85 |
8.4 |
| United States2 |
1999 |
272,691,000 |
5.70 |
3.72 |
1.98 |
39.0 |
| Argentina |
1994 |
34,179,000 |
4.51 |
2.11 |
2.40 |
n/a |
| Hungary |
1994 |
10,245,677 |
3.53 |
0.23 |
3.30 |
n/a |
| Finland3 |
1994 |
5,088,333 |
3.24 |
0.86 |
2.38 |
23.2 |
| Portugal |
1994 |
5,138,600 |
2.98 |
1.28 |
1.70 |
n/a |
| Mauritius |
1993 |
1,062,810 |
2.35 |
0 |
2.35 |
n/a |
| Israel |
1993 |
5,261,700 |
2.32 |
0.72 |
1.60 |
n/a |
| Italy |
1992 |
56,764,854 |
2.25 |
1.66 |
0.59 |
16.0 |
| Scotland |
1994 |
5,132,400 |
2.24 |
0.19 |
2.05 |
4.7 |
| Canada |
1992 |
28,120,065 |
2.16 |
0.76 |
1.40 |
29.1 |
| Slovenia |
1994 |
1,989,477 |
2.01 |
0.35 |
1.66 |
n/a |
| Australia |
1994 |
17,838,401 |
1.86 |
0.44 |
1.42 |
19.4 |
| Singapore |
1994 |
2,930,200 |
1.71 |
0.07 |
1.64 |
n/a |
| South Korea |
1994 |
44,453,179 |
1.62 |
0.04 |
1.58 |
n/a |
| New Zealand |
1993 |
3,458,850 |
1.47 |
0.17 |
1.30 |
22.3 |
| Belgium |
1990 |
9,967,387 |
1.41 |
0.60 |
0.81 |
16.6 |
| England/Wales4 |
1997 |
51,429,000 |
1.41 |
0.11 |
1.30 |
4.7 |
| Switzerland5 |
1994 |
7,021,000 |
1.32 |
0.58 |
0.74 |
27.2 |
| Sweden |
1993 |
8,718,571 |
1.30 |
0.18 |
1.12 |
15.1 |
| Denmark |
1993 |
5,189,378 |
1.21 |
0.23 |
0.98 |
n/a |
| Austria |
1994 |
8,029,717 |
1.17 |
0.42 |
0.75 |
n/a |
| Germany6 |
1994 |
81,338,093 |
1.17 |
0.22 |
0.95 |
8.9 |
| Greece |
1994 |
10,426,289 |
1.14 |
0.59 |
0.55 |
n/a |
| France |
1994 |
57,915,450 |
1.12 |
0.44 |
0.68 |
22.6 |
| Netherlands |
1994 |
15,382,830 |
1.11 |
0.36 |
0.75 |
1.9 |
| Kuwait |
1995 |
1,684,529 |
1.01 |
0.36 |
0.65 |
n/a |
| Norway |
1993 |
4,324,815 |
0.97 |
0.30 |
0.67 |
32.0 |
| Spain |
1993 |
39,086,079 |
0.95 |
0.21 |
0.74 |
13.1 |
| Japan |
1994 |
124,069,000 |
0.62 |
0.02 |
0.60 |
n/a |
| Ireland |
1991 |
3,525,719 |
0.62 |
0.03 |
0.59 |
n/a |
| Country |
Year |
Population |
Total Homicide |
Firearm Homicide |
Non-Gun Homicide |
% Households With Guns |
Notes:
- Number of homicides: Ministry of Interior, National
Police Administration (link not always active), Taiwan.
Population: As of April 1999, Government
Information Office, Taiwan.
Gun Homicides: Central News Agency, Taipei, November 23, 1997.
- Total homicide rate and firearm homicide rates are from FBI
Uniform Crime Report(1999).
- The United
Nations International Study on Firearm Regulation reports Finland's
gun ownership rate at 50% of households.
- Percent households with guns includes all army personnel.
- Percent households with guns excludes East Germany.
Sources:
Homicide data for Colombia, Philippines, and South Africa are from the United
Nations International Study on Firearm Regulation .
Population figures for Colombia, Philippines, and South Africa are
estimates based on UN data.
Data for the remainder of the countries, except as noted above: International
Journal of Epidemiology 1998:27:216.
Column "% Households With Firearms": Can Med Assoc J,
Killias, M (1993), except United States (Gallup
[2000] and Harris
[2001] polls.)
Note:
Argentina, Brazil, Estonia, Greece, Hungary, Mexico, Mauritius, Slovenia,
Portugal, and South Korea are classified as upper-middle-income countries by
the World Bank. GunCite does not know the classification for Colombia, South
Africa and the Philippines. The remainder are considered high-income
countries.
We're hot stuff!
Accenture is a consulting firm that dramatically broke away from Andersen
long before Andersen imploded. I
found it interesting that Accenture is now in the Top 20 in terms of hiring
needs for accounting graduates. Deloitte
is not in the Top 20 in spite of getting some new huge audits such as Fannie
Mae.
I also found it interesting how so many other non-accounting firms have
such great needs for accounting graduates.
The top employers include several accounting and consulting firms,
and the number one hiring company is a surprise to me.
Does each accountant oversee a single car?
"Accounting Firms Hiring Thousands of '05 Grads," SmartPros,
February 23, 2005 --- http://accounting.smartpros.com/x47148.xml
Feb. 23, 2005 (SmartPros) — The job market for 2005 college graduates
is predicted to be the best since 2000, according to Michigan State
University's annual Recruiting Trends survey. The top employers include
several accounting and consulting firms.
The survey respondents are ranked according to the projected number of
hires from college recruiting for the Class of 2005. The top 20 employers,
followed by their projected number of hires, are:
1 - Enterprise Rent-A-Car--7,000
2 - PricewaterhouseCoopers--3,170
3 - Ernst & Young LLP--2,900
4 - Lockheed Martin--2,863
5 - KPMG--2,240
6 - Sodexho, Inc.--2,050
7 - Fairfax County Public Schools--1,600
8 - Accenture--1,540
9 - Northrop Grumman--1,266
10 - United States Customs & Border Protection--1,200
11 - Target--1,127
12 - United States Air Force--1,095
13 - Raytheon Company--1,000
14 - Microsoft--970
15 - JPMorgan Chase--810
16 - Procter & Gamble--569
17 - Liberty Mutual--545
18 - Grant Thornton--500
19 - Bank of America--413
20 - United States Air Force Personnel Center/DPKR--400
According to the survey, economic sectors showing strength this year
include: retail, wholesale, transportation (not including airlines),
health services, entertainment and real estate.
Bob Jensen's threads on accounting careers are at http://www.trinity.edu/rjensen/bookbob1.htm#careers
A new way to
teach math: But does it add up?
A group of disadvantaged Bay Area high school students who learned mathematics
by discussing open-ended problems in mixed-ability groups outperformed
wealthier teenagers placed in tracked, traditional classes, according to a new
School of Education study.
"How urban
high schoolers got math." by Lisa Trei, Stanford Alumni Newsletter,
February 2, 2005 --- http://news-service.stanford.edu/news/2005/february2/boaler-020205.html
- A group of
disadvantaged Bay Area high school students who learned mathematics by
discussing open-ended problems in mixed-ability groups outperformed
wealthier teenagers placed in tracked, traditional classes, according to a
new School of Education study. Their performance on state-mandated tests,
however, was less encouraging.
- Jo Boaler, an
associate professor of education, followed about 700 students in three Bay
Area high schools from 1999 to 2004 as they studied mathematics from 9th
through 12th grade. Boaler, a specialist in mathematics education, wanted to
learn how different teaching methods affected student learning. The National
Science Foundation supported the five-year project.
-
- The results
surprised Boaler. Students from a school called "Railside," a
pseudonym for an urban school with a 77 percent Latino, African American and
Asian/Pacific Islander population, entered freshman year achieving at
significantly lower levels in mathematics than students at the other two Bay
Area schools, according to the study's tests. These more affluent schools
included "Hilltop," the pseudonym for a rural school with a half
white, half Latino population, and "Greendale," a school in a
coastal community with an almost all-white student body. Unlike Railside,
where teachers had designed a reform-oriented program, students at Hilltop
and Greendale were placed in tracked classes mostly using conventional
teaching methods involving demonstration and individual practice, she said.
- Within two years,
Boaler said, Railside students were "significantly outperforming"
the students at the other two schools in tests designed by the study. By
junior year, 54 percent of Railside students said they enjoyed math
"all or most of the time," compared to 29 percent of students at
the other schools, she said. Furthermore, although white students at
Railside performed at higher levels than Latinos at the start of freshman
year, this disparity disappeared by the end of sophomore year.
-
- The study found no
gender differences in performance in any of the tests the students took at
any level. Female students made up half of the advanced classes at Hilltop,
48 percent at Greendale and 59 percent at Railside. By 12th grade, 41
percent of all Railside students were taking calculus, Boaler said, compared
with about 27 percent of seniors at the other two schools.
-
- Keith Devlin, a
consulting professor in mathematics, said the study's results do not
surprise him. "Good teaching is not just about teaching the tools, but
teaching students how to use the tools," he said. "Learning math
is about developing our mental capacity to a point [that] when faced with a
new problem involving mathematical thinking, we know how to go about solving
it. You can't get away from drill, rote and practice, but then you have to
develop the skills for using the tools well."
-
- Boaler attributes
Railside's success to reform-oriented instruction and teachers dedicated to
promoting equity. "The more [teachers] opened up the ways of being
mathematical, the more kids were able to contribute," she said.
"Put simply, when there are many ways to be successful, many more
students are successful."
- Boaler noted the
results include a caveat: Although Railside students performed well on the
study's tests as well as end-of-year exams administered by the high school
district, they fared relatively poorly on the state's standardized tests.
-
- "Indeed, the
performance of the Railside students on the state tests is closer to the
schools decided by the state to be 'similar schools' in demographics than it
is to the other more wealthy schools in our study," Boaler wrote in a
paper delivered last July at the International Conference on Mathematical
Education. "This phenomenon speaks more to the biased nature of the
tests than it does to any inadequacy in the students' understanding, in my
view."
- Boaler argues that
the state tests gauge English-language comprehension as much as mathematical
competency. "The tests use complicated terminology, terms that kids
have never heard of and, when you put them into schools like this one with
[English] language learners and minority kids, they don't do well," she
said. "For example, kids came out of these tests asking, 'What's a
soufflé?'"
-
- Brad Osgood, a
professor of electrical engineering with a courtesy appointment in
education, does not question Boaler's results. However, he added, if the
study's findings do not match up with the state's, each party may have to
find middle ground. "You need technical skills, there's no doubt about
that," he said. "But no curriculum is a replacement for inspired
teaching. If this helps teachers get excited, that's a good thing."
- In Boaler's view,
the greatest outcome is that Railside's teaching methods are leaving lasting
results. Out of 105 seniors interviewed at the end of the study, all said
they wanted to pursue mathematics courses in college—compared with 67
percent of the students who learned traditional math. In addition, 39
percent of Railside students said they planned a future in mathematics
compared with just 5 percent of those from the other schools. "The
mathematics teachers at Railside achieved something important that many
other teachers could learn from—they gave students from disadvantaged
backgrounds a great chance of success in life and taught them to love
mathematics," she said. "That's very important because there is a
critical shortage of people who are mathematically qualified."
-
- How Railside
succeeded
- According to the
study, Railside students succeeded for a variety of reasons:
-
- Students of
mixed abilities were placed in classes together. While Hilltop and
Greendale split students into algebra, remedial algebra and geometry,
Railside placed all incoming students into heterogeneous algebra
classes.
- The teachers
used an approach designed at Stanford called "complex
instruction," to ensure that group work succeeded while countering
social and academic status differences. "What you [often] see in
schools in California is a lot of group work that doesn't work
well—one student does all the work and the others sit there,"
Boaler said. That did not happen at Railside.
- The teachers
created working environments where many dimensions of mathematical work
were valued, allowing for several possible paths to a solution. Students
were given several ways to contribute to solving problems. In addition
to achieving high grades for correct answers, they were graded for
asking good questions, rephrasing problems, explaining ideas, being
logical, justifying methods and bringing different perspectives to a
problem.
- Railside uses
block scheduling, developing 90-minute-long lessons for courses that
last half a school year instead of a full academic year with hour-long
classes. In most U.S. high schools, Boaler explained, math courses take
one year, beginning with algebra, followed by geometry, advanced algebra
and pre-calculus. If students fail at any point they are knocked out of
that sequence and have to retake a course, which limits their options
before graduating. In contrast, Railside students can take two
mathematics classes a year if they want to.
- "This
organizational decision has a profound impact upon the students'
opportunities to take higher-level mathematics courses," Boaler said.
"[It's] part of the reason that significantly more students at Railside
took advanced-level classes than students at the other two schools."
-
Continued in
article
Mozart won't
make you smarter
Scientists have discredited claims that listening to classical music enhances
intelligence, yet the pursuit of this so-called "Mozart effect" has
exploded over the years, says Chip Heath, PhD '91, an associate professor of
organizational behavior
"Dubious
'Mozart Effect' remains music to many Americans' ears," by Marina
Krakovsky, Stanford Alumni Newsletter, February 2, 2005 --- http://news-service.stanford.edu/news/2005/february2/mozart-020205.html
Scientists have
discredited claims that listening to classical music enhances intelligence,
yet this so-called "Mozart Effect" has actually exploded in
popularity over the years.
So says Chip Heath,
an associate professor of organizational behavior who has systematically
tracked the evolution of this scientific legend. What's more, Heath and his
colleague, Swiss psychologist Adrian Bangerter, found that the Mozart Effect
received the most newspaper mentions in those U.S. states with the weakest
educational systems—giving tentative support to the previously untested
notion that rumors and legends grow in response to public anxiety.
"When we
traced the Mozart Effect back to the source [the 1993 Nature journal report
titled 'Music and Spatial Task Performance'], we found this idea achieved
astounding success," says Heath. The researchers found far more
newspaper articles about that study than about any other Nature report
published around the same time. And as the finding spread through lay
culture over the years, it got watered down and grossly distorted.
"People were less and less likely to talk about the Mozart Effect in
the context of college students who were the participants in the original
study, and they were more likely to talk about it with respect to
babies—even though there's no scientific research linking music and
intelligence in infants," says Heath, who analyzed hundreds of relevant
newspaper articles published between 1993 and 2001.
Not only had babies
never been studied, but the original 1993 experiment had found only a modest
and temporary IQ increase in college students performing a specific kind of
task while listening to a Mozart sonata. And even that finding was proved
suspect after a 1999 review showed that over a dozen subsequent studies
failed to verify the 1993 result. While many newspapers did report this blow
to the Mozart Effect, the legend continued to spread—overgeneralizations
and all. For example, Heath cites a 2001 article in the Milwaukee Journal
Sentinel that refers to "numerous studies on the Mozart Effect and how
it helps elementary students, high school students, and even infants
increase mental performance." In truth, none of these groups had been
studied, says Heath.
So why did the
Mozart Effect take such a powerful hold in popular culture, particularly in
reference to babies and children? Heath and Bangerter surmised that the
purported effect tapped into a particularly American anxiety about early
childhood education. (Bangerter, who was doing research in Stanford's
psychology department during the study, had been struck by Americans'
obsession with their kids' education. For example, he saw that a preschool
near the Stanford campus had the purposeful name "Knowledge
Beginnings," whereas a preschool near a university in Switzerland was
called "Vanilla-Strawberry." The latter made no lofty claims about
its educational goals.) Concern about education was so great, in fact, that
several U.S. states actually passed laws requiring state-subsidized
childcare centers to play classical music or giving all new mothers a
classical music CD in the hospital.
To test their
hypothesis that the legend of the Mozart Effect grew in response to anxiety
about children's education, Heath and Bangerter compared different U.S.
states' levels of media interest in the Mozart Effect with each state's
educational problems (as measured by test scores and teacher salaries). Sure
enough, they found that in states with the most problematic educational
systems (such as Georgia and Florida), newspapers gave the most coverage to
the Mozart Effect.
"Problems
attract solutions," explains Heath, and people grappling with complex
problems tend to grasp for solutions, even ones that aren't necessarily
credible. "They can be highly distorted, bogus things like the Mozart
Effect," says Heath, adding that similar patterns occur in our
culture's fixation on fad diets and facile business frameworks.
Heath's analysis
also found that spikes in media interest generally corresponded to events
outside of science—particularly state legislation and two pop psychology
books, The Mozart Effect and The Mozart Effect for Children.
Lest Heath's own
findings spawn overgeneralizations, he's quick to point out that the Mozart
Effect is a particular type of legend. "The Mozart Effect points out a
solution, whereas urban legends point out a problem." The prevailing
but untested thinking about urban legends holds that they spread by tapping
into public anxiety. But Heath says that even if the Mozart Effect succeeded
by suggesting a solution to an anxiety, it's not clear why legends that
create anxiety would spread. Why, for example, would people circulate
stories about rat meat in KFC meals or about the perils of flashing your
headlights at motorists driving without their lights on. "I'm still
skeptical about the anxiety approach to urban legends," he cautions.
Continued in
article
"Creative Accounting for
Medicaid," by Sarah Lueck, The Wall Street Journal, February 24,
2005, Page A4 --- http://online.wsj.com/article/0,,SB110920698133662704,00.html?mod=todays_us_page_one
Bush Budget Proposal Targets
Loopholes That States Use to Garner More Federal Funds
When the nation's governors go to
the White House on Monday, they are likely to deliver a blunt message to
President Bush: Keep your hands off our Medicaid loopholes.
In his latest budget request, Mr.
Bush took aim at an array of strategies that he says states use to
improperly inflate their Medicaid costs and thus qualify for more federal
matching funds for the state-federal health program for the poor. Health and
Human Services Secretary Michael Leavitt called the tactics, long a source
of friction between Washington and the states, the "seven harmful
habits of highly desperate states." By outlawing many of them, the
administration figures, it could save $40 billion over 10 years in the
fast-growing program.
But the states are fighting back
and their governors will make their case in the coming White House meeting
during their conference in Washington. Carol Herrmann, who is head of
Alabama's Medicaid program and considered one of the most effective state
officials in procuring federal funds, says states' use of creative
accounting methods, "is exactly what all of us do when we do our income
taxes every year: We looked at the law and used the law to our
advantage." In Alabama, she says, the extra federal funds have been
spent on better prenatal care for poor women -- care that couldn't be
provided if the funds disappeared.
Officials in other states agree.
The maneuvers used by some states to draw down more federal dollars often
are hatched by the most ingenious and entrepreneurial people in state
government, the equivalent of Wall Street investment bankers. They pursue
new ways to raise money -- not because it fattens their salaries but because
it pumps federal taxpayers' money into the Medicaid systems in their states.
February 27, 2005 message from Barry Rice [BRice@LOYOLA.EDU]
(In regards to the role of PwC in ensuring the integrity of voting outcomes in
the Oscar voting outcomes in Hollywood)
Denny, et al-
This reminds me of a story I shared with my students
for many years. When I was moving to Baltimore in 1967, I interviewed with all
six of the Big Eight firms that had offices here at the time. I received
offers from all six (they needed staff badly!) and wanted to make an objective
decision. Therefore, I prepared a spreadsheet with the names of the firms at
the top and criteria for selection down the side. I rated each firm on each
point, added up the score and Price Waterhouse came out on top, so I accepted
their offer.
The way this relates to the Oscars is that deep down,
I always wondered if I subconsciously biased the ratings so that PW would come
out on top. Reason: It was the only Big Eight CPA firm name that the folks
(including my parents) in my little home town of 300 in southwestern Virginia
might have known. Why would they know PW? Because of the Academy Awards! Guess
I'll never know the truth. But my three years experience with PW was
invaluable to me in the classroom.
Another reason I look forward to tonight's broadcast
is to see how they hide the fact that the Kodak Theatre is in the middle of a
shopping mall in Hollywood! My wife and I took a tour of the theatre in
November of 2003. It was quite educational. And, while they would not let us
take pictures inside, I have posted six we took at www.barryrice.com/hollywood
. The one with the Polo Ralph Lauren banner makes the point best that the red
carpet will pass through the shopping center and up the steps to the theatre.
Ah, showbiz!
Barry Rice AECM List Owner
E. Barry Rice Director, Instructional Services
Emeritus Accounting Professor
Loyola College in Maryland
BRice@Loyola.edu
Make
Interactive Web Pages Out of Excel Spreadsheets
You
can make an interactive Web page out of your Excel page quickly and easily
using alternatives that are already in Excel, although users may be required
to use Internet Explorer rather than other browsers.
One
of the main advantages is that users of your spreadsheets do not have to take
as many security risks (especially the risks of being infected with nasty
macro viruses) that plague downloading of Excel files. I
will talk about how to make interactive Web pages in the bottom half of this
message.
I
will begin with a message from Richard Campbell describing his use of the new
Excelsius software. I’ve not
used this software as of yet. Richard
has not yet answered my question about whether browsers other than IE can read
Excelsius. I assume that they can.
February 18, 2005
message from Richard Campbell [campbell@RIO.EDU]
Excelsius is a
software program that turns Microsoft Excel files into interactive charts
and simulations. It is available at www.infommersion.com.
These tutorials are based on the "Quickstart" tutorial that
Infommersion has on their website.
I thought the best
way to learn Excelsius would be to create a series of Flash-enabled set of
tutorials based on your Quickstart pdf file.
Please look at the
following links and let me know what you think.
http://www.virtualpublishing.net/excelsius03/excelsius01.htm
http://www.virtualpublishing.net/excelsius03/excelsius02.htm
http://www.virtualpublishing.net/excelsius03/excelsius03.htm
http://www.virtualpublishing.net/excelsius03/excelsius04.htm
http://www.virtualpublishing.net/excelsius03/excelsius05.htm
http://www.virtualpublishing.net/excelsius03/excelsius06.htm
http://www.virtualpublishing.net/excelsius03/excelsius07.htm
http://www.virtualpublishing.net/excelsius03/excelsius08.htm
Here is the final
Excelsius-output from that tutorial.
http://www.virtualpublishing.net/excelsiusqs/excelsiusqs.html
I also own the
accountingebooks.com web site.
Thanks.
Richard J. Campbell
mailto:campbell@rio.edu
February 18, 2005
reply from Bob Jensen
Looks great Richard. Thank you for
telling us about this software.
Question Will Excelcious run on any
browser? If so, it has an edge over Excel's built in interactive (DHTML) web
page options.
I might remind readers that some
interactivity is available from Excel itself, and it's quite easy to use.
My tutorial on this is at http://www.trinity.edu/rjensen/dhtml/excel01.htm
My video tutorial is the
ExcelDHTML.wmv file at http://www.cs.trinity.edu/~rjensen/video/acct5342/
One drawback of the interactive
version that Microsoft built into Excel is that it will not run in all
browsers. In fact, I'm not certain that it will run in any browser other
than Internet Explorer.
I assume Excelcious will run on
most browsers.
Bob Jensen
Most
of you, including me are not into music theory.
However, most of you have musician friends who might want to know about
this clever site.
I've had feedback from several
faculty in
Trinity
University
's Music Department who reported back that they liked this site.
Musictheory.net --- http://www.musictheory.net/
This was started by a high school senior.
February 17, 2005
message from Bob Jensen
I call your attention to Page 4 of
the Spring 2005 newsletter called “The Accounting Educator” from the
Teaching and Curriculum Section of the American Accounting Association --- http://aaahq.org/TeachCurr/newsletters/index.htm
The current Chair (Tomas Calderon)
has a piece about “reflection” which is nice to reflect upon. There are
abstracts of papers in other journals that relate to education, and an
assortment of teaching cases.
Marinus Bouman
has a nice piece entitled “Using Technology To Integrate Accounting Into
The Business Curriculum.” Interestingly, the Sam M. Walton College of
Business at the University of Arkansas no longer has courses in Principles
of Accounting (or Marketing or Finance). You should read Bouman’s article
to find out what took the place of these principles courses in a daring
curriculum experiment.
Since I teach accounting theory, I
found Bob Clusky’s paper “Where’s Accounting Theory) quite
interesting. Even more than AIS, “Accounting Theory” is a phrase still
in search of a definition.
Tim Fogerty has a piece on Distance
Education. It is somewhat negative in tone, but Tim seems to sigh that the
march forward is inevitable and the current boundries of education from one
program or one institution will evaporate as students seek courses and
modules from anywhere in the world. I might take issue with some of his
conclusions such as testing and/or assessment, but this is not the time or
the place for that. See http://www.trinity.edu/rjensen/assess.htm
There is much, much more of
interest in this 32 page newsletter. Go to http://aaahq.org/TeachCurr/newsletters/index.htm
Page 4 describes a forum to be
headed up by Tim Fogarty (Case Western) and Call for Papers in which the
last paragraph reads as follows:
*******************************
Issues in Accounting Education, in conjunction with the Teaching &
Curriculum Section of the AAA has asked me to edit a dedicated forum with
an expected publication date of Spring 2006. I would like to extend an
opportunity to accounting educators to submit essays for this issue.
Proposed pieces for inclusion should be 25 pages (double spaced) or less.
Submissions will be peer-reviewed with an emphasis on clarity and strength
of ideas. The deadline for the first drafts is March 1, 2005. There would
also be an opportunity to discuss these ideas in a CPE session at the AAA
meeting in San Francisco.
*****************************
Bravo to Thomas, Tim, and other
volunteers who are continuing the momentum of this essential section of the
AAA! This is the lifeblood of why we are in this profession.
Bob Jensen
February 17, 2005
message from Bob Jensen
Note
the following paragraph that I wrote in my previous message:
*********************
Marinus Bouman has a
nice piece entitled “Using Technology To Integrate
Accounting Into The Business Curriculum.”
Interestingly, the
Sam
M.
Walton
College
of Business at the
University
of
Arkansas
no longer has courses in
Principles of Accounting (or Marketing or Finance).
You should read Bouman’s article to find
out what took the place of these principles courses in a daring curriculum
experiment.
*******************
The simulation pedagogy used in the "Business Foundations"
course at the Walton College seems to be quite related to the BAM pedagogy ---
http://www.trinity.edu/rjensen/265wp.htm#UVA000
The
more I think about this, the more I think that the
Walton
College
as evolved, I assume quite
independently, into something quite similar to what Jack Wilson (a physicist)
pioneered at
Rensselaer
well over a decade ago.
Core courses (such as physics) in the general curriculum at
Rensselaer
were taken from the
curriculum and replaced with technology-based “studio” learning.
The
University
of
Arkansas
is doing something similar
in relying upon technology when taking the core courses, such as Principles of
Accounting, out of business education.
The
following is taken from http://www.trinity.edu/~rjensen/245glosf.htm#Studio1
Studio
classroom= An application of computer technology pioneered by
Jack M. Wilson at Rensselaer Polytechnical
Institute for replacing large lecture courses with students working in pairs
in front of computer screens where they interactively tackle problems and
issues rather than listen to or passively watch lectures in front of a mass
lecture section. The only lecture comes at the beginning and end of class
where the instructor commences or wraps up the learning session. The
"studio" is a combination lab and electronic classroom.
Dr.
Wilson now serves as the President of the
University
of
Massachusetts
system. He had been serving as the Vice President for Academic Affairs
of the
University
of
Massachusetts System
and is the founding Chief Executive Officer (CEO) of UMassOnline,
the University of
Massachusetts Virtual University. As Vice president he was
responsible for the coordination of the academic programs in research and
teaching throughout the five campus system. As CEO of UMassOnline
he worked with the five physical campuses,
Amherst
,
Lowell
,
Boston
,
Worcester
, and
Dartmouth
to provide online access to the programs of the
University
of
Massachusetts
.
Jack
Wilson was one of the early pioneers in education technologies and learning.
He is now CEO and founder of UMass Online
.
Dr.
Wilson, also known as an entrepreneur, was the Founder (along with Degerhan
Usluel and Mark Bernstein), first President, and
only Chairman of LearnLinc
Corporation (now Mentergy),
a supplier of software systems for corporate training to Fortune 1000
Corporations. In early 2000. LearnLinc
merged with Gilat
Communications, (GICOF)
which also acquired Allen Communication
from the Times Mirror group. The Gilat-Allen-LearnLinc
combination forms a powerful "one stop shopping" resource for
E*Learning that is now the Mentergy unit of Gilat
Communications. (The LearnLinc
Story).
Dr
Wilson was the J. Erik Jonsson '22 Distinguished
Professor of Physics, Engineering Science, Information Technology, and
Management and the Co-director of the
Severino
Center
for Technological
Entrepreneurship at
Rensselaer
. After coming to
Rensselaer
in 1990, he served as the
·
Dean of
Undergraduate Education,
·
Dean of
Professional and Continuing Education,
·
Interim
Provost,
·
Interim Dean
of Faculty, and as the
·
Founding
Director of the
Anderson
Center
for Innovation in
Undergraduate Education.
In
these roles, Wilson led a campus wide process of interactive learning and
restructuring of the educational program, known for the design of the Studio
Classrooms, the growth of the Distributed Learning Program, the creation of
the Faculty of Information Technology, and the initiation of the student
mobile computing (universal networked laptop) initiative
The
Studio Classrooms at
Rensselaer
replaced large sized core courses taught by traditional lecture pedagogy with
student teams responsible largely for teaching themselves using computer-aided
and interactive course materials --- http://www.rpi.edu/dept/NewsComm/WNCTW/ad7.html
Welcome
To Interactive Learning
Roll up your sleeves and take a seat in the
Rensselaer
studio classroom. Classes
of about 60 students are engaged at wired workstations - utilizing cutting
edge tools like Web-based technologies, full-motion video, computer
simulation, and other laboratory resources. An
instructor and teaching assistant move from workstation to workstation
observing and coaching. Notes are taken with a simple mouse click, as
students download files and class materials onto their required laptops.
It's an innovative blend of discussion and skill-building, high-tech inquiry
and problem-solving - preparing scholars to succeed in the new business
world. It's all part of Interactive Learning at
Rensselaer
.
More
Studios Than
Hollywood
Interactive Learning is more than just a concept at
Rensselaer
; it's a working reality.
The approach has been infused throughout all of our undergraduate
disciplines in more than 25 studio classrooms with more being built all the
time. In the LITEC studio classroom, students build remote-controlled cars
in a project-based, team environment. In the Circuits Studio, students
develop and test their own circuits. The Collaborative
Classroom, funded by the National Science Foundation, serves as a testbed
for using computer technology to collaborate on design projects. At
Rensselaer
, knowledge and application
are seamlessly intertwined.
Teaching
How We Teach
Rensselaer
's revolutionary model for
education has been talked about, honored, and emulated. We earned the first
Pew Charitable Trust Award for the Renewal of Undergraduate Education and
the first Boeing Outstanding Educator Award, among others. Last year, we
were named to administer an $8.8 million Pew-funded program to bring
educational innovation to other universities in this country: The
Center for Academic Transformation. Literally hundreds of institutions
have visited
Rensselaer
to learn how we teach.
No
Stopping Now
Of course, the very thinking that enabled
Rensselaer
to initiate Interactive
Learning is the same mindset that keeps us pressing forward.
Rensselaer
's Anderson
Center for Innovation in Undergraduate Education was founded 11 years
ago with the continuing mission of making
Rensselaer
a leader in innovative
pedagogy. More recently, the
Rensselaer
Academy
of Electronic Media has become the spawning ground for highly creative
visualization software that enables students to learn scientific and
engineering principles in ways never before possible. We continue to look
for new and better methods to evolve education - meeting the present and
future needs of our students, professors, and global businesses. Because
solving real-world challenges is our mission and
our passion.
For a
summary short summary see http://www.bc.edu/bc_org/avp/soe/cihe/newsletter/News15/text4.html
. (See also Electronic
classroom)
From the Scout
Report on February 17, 2005
Commercialism in
Education Research Unit --- http://www.asu.edu/educ/epsl/ceru.htm
The Arizona
State University’s College of Education has a distinguished record of
conducting important research through its numerous research centers and
institutes. One of these groups is the Commercialism in Education Research
Unit (CERU), which was formerly located at the University of
Wisconsin-Milwaukee. The CERU conducts research about commercial activities
in schools, and its staff members are “guided by the belief that mixing
commercial activities with public education raises fundamental issues of
public policy, curriculum content, the proper relationship of educators to
the students entrusted to them, and the values that the schools embody.”
The CERU is directed by Professor Alex Molnar, and visitors to the site will
want to look through the various sections dedicated to their publications
and annual reports. Educational administrators and policy-makers will want
to hone in on the resources area, which provides access to helpful
information on current guidelines for commercial activities in schools and
news about pending litigation in this arena.
MiniLyrics
3.3.137 http://www.philocode.com/minilyrics/index.htm
No doubt there are
many readers of the Scout Report who will find this little handy application
quite useful, and more than a bit fun while at work or school. MiniLyrics
3.3.137 is a song lyrics viewer that displays the lyrics of the currently
playing song timed with the music in a host of different media players,
including Winamp, RealPlayer, iTunes, and Windows Media Player. The
application also has some nice visual effects and has a song database that
continues to expand daily. This version of MiniLyrics is compatible only
with Microsoft Windows 2000 or newer.
February 24, 2005 message from Richard
J. Campbell [campbell@RIO.EDU]
Camtasia is still
very good, but a very good alternative / supplement is Macromedia's www.macromedia.com
Captivate (formerly Robodemo), which I used to record the Excelsius
simulations that I posted to the list earlier. Captivate also allows Scorm /
aicc compliant quiz capability. I posted a link earlier a quiz on
Sarbanes-Oxley that was created in Captivate. The ability to create complex
simulations is quite possible.
An advantage in using
Camtasia is in recording full-motion screen capture video. Camtasia can record
Webex live class presentations, whereas Captivate can not.
Captivate has the
capability to create cross-platform demos. I am pretty sure you can generate
Linux output. Camtasia has multiple output formats, but not Mac unless you
have Ensharpen.
I have an idea for an
audit simulation using Toolbook and Flash. If anybody has a sample audit case,
I would be willing to create a proposal for the KPMG case proposal. Actually,
it would be analogous to the "Auditing Alchemy" case of PWC. If
anyone is interested contact me off-list.
Richard J. Campbell
School of Business
University of Rio Grande Rio Grande, OH 45674
Bob Jensen's tutorials on Camtasia
are at http://www.trinity.edu/rjensen/HelpersVideos.htm
Harvard's Power
Struggle
I will always remember the words of
a rather autocratic president of a university who said: "I don't
manage people. I manage their budgets." I'll bet you didn't
think that Larry Summers' troubles at Harvard had far more to do with accounting
than with women in science. (I say "had" because the media
focus over his words about women have overtaken his real troubles.)
From The Wall Street Journal
Accounting Weekly Review on February 25, 2005
TITLE: Harvard Clash Pits Brusque
Leader Against Faculty
REPORTER: Robert Tomsho and John Hechinger
DATE: Feb 18, 2005
PAGE: A1
LINK: http://online.wsj.com/article/0,,SB110867816104958196,00.html
TOPICS: Managerial Accounting
SUMMARY: The article describes
reactions to Harvard President Larry Summers's comments made at a conference on
workforce diversification. The article mentions other factors contributing to
strife between President Summers and his faculty, including Harvard's
Responsibility Center Management (and accounting) system.
QUESTIONS:
1.) In what forum did Harvard President Lawrence H. Summers make his comments
about different individuals' relative abilities with math and science
disciplines? Would you characterize his statements as provocative, or something
else? How would do you feel about the president of your college or university
expressing pre-determined notions of your abilities based on your gender?
2.) How did the presidents of other Ivy
League institutions react to President Summers's comments? Why must senior
leaders of all organizations consider the impact of any public statement on
those that he or she manages?
3.) In the article, the author
expresses the view that faculty, department chairs, and deans at Harvard
University are particularly powerful under their system of Responsibility Center
Management, called "every tub on its own bottom" in the article. What
is this system of management and accounting? (Hint: you may find a discussion of
Harvard's system through a web search that should uncover the following site,
among others: http://www.hno.harvard.edu/guide/underst/under2.html
4.) How does this management and
accounting system result in decentralization of power?
5.) Why do faculty members feel they
should wield particular power in an academic setting? How does this view differ
from attitudes in the corporate world? Why do some constituents feel that
colleges and universities would be better off adopting some business attitudes
and techniques?
Reviewed By: Judy Beckman, University
of Rhode Island
"Attacking a Major Cause of
Strokes," by Thomas M. Burton, The Wall Street Journal, February 22,
2005, Page D1 --- http://online.wsj.com/article/0,,SB110902515366060203,00.html?mod=todays_us_personal_journal
Less-Invasive
Surgical Procedure Adds Option to Treatment Mix For Widespread Heart Problem
A new surgical
procedure is showing promise in treating a potentially lethal heart-rhythm
problem called atrial fibrillation.
Choosing the best
course of treatment for atrial fibrillation, a heart flutter that afflicts 2.2
million Americans, has long been a medical quandary. Now, the emergence of the
new procedure has the potential to alter the decision-making calculus for
patients.
Atrial fibrillation
persists without symptoms in some people, who often get diagnosed by chance
after a routine EKG. Others suffer terribly, experiencing exhaustion,
shortness of breath, sweating and even fainting spells. Still others find
their discomfort comes and goes.
Symptoms or not,
atrial fibrillation can be extremely dangerous. Over the years, blood pools in
these people's hearts, forms clots and often can lead to devastating, even
deadly, strokes. One-fifth or more of the nation's 700,000 strokes arise from
this condition.
So far, the
treatments available for atrial fibrillation, which is caused by misfiring
electrical currents within the heart, have had significant drawbacks.
Anticoagulant drugs to prevent strokes can cause dangerous bleeds. Open-heart
surgery to redirect the aberrant electricity is highly effective, but it is
major surgery and carries an estimated 2% death rate. A less-invasive
procedure known as catheter ablation is simpler but may not be as effective as
surgery.
The dilemma of which
to choose is especially acute for younger patients in their 40s, 50s and 60s.
They may not want to be on blood-thinning medications the rest of their lives,
which can force them to give up active hobbies like skiing where they could be
injured and suffer serious bleeding.
While surgery does
cure most people, "would you actually open somebody's chest for that
reason alone?" says University of Calgary cardiologist D. George Wyse.
The latest option
holds promise for solving that dilemma, at least for many patients. The new
operation, performed for the first time in the U.S. recently at Chicago's
Northwestern Memorial Hospital by surgeon Patrick M. McCarthy, is a simpler
version of the classic surgery for atrial fibrillation, known as a
"Maze" procedure.
Dr. McCarthy says
that while this alternative has no U.S. track record yet, experience in Europe
suggests its success rate will rival that of traditional Maze surgery, at
about 90%. Dr. McCarthy, one of the world's pre-eminent heart surgeons, was
recruited last year from the Cleveland Clinic to head up Northwestern's
fast-growing cardiac-surgery department.
Continued in article
Question
It was drilled (literally) into me in grade school that already was one word and
all right was two words. Increasingly, I'm seeing the word
"alright." Has this somehow become proper in English?
"Making Sure The Kids Are
Alright," by Sarah Tilton, The Wall Street Journal, February 18,
2005 --- http://online.wsj.com/article/0,,SB110868127889058337,00.html?mod=todays_us_weekend_journal
Bob Jensen
February 21, 2005 reply from David R.
Fordham [fordhadr@JMU.EDU]
Bob, for all the
glitz and glimmer of technology, there is still a lot to be said for hardcopy
ink-and-paper books.
I looked in my trusty
Webster’s New World College Dictionary, Fourth Edition, copyright 2001, and
on page 41, I find an entry for “alright”, described as an adjective, an
adverb, and an interjection. It’s definition is, and I quote, “disputed
spelling of ALL RIGHT” (caps in original). There are also separate entries
for “all-right”, and “all right”.
I was taught that any
word appearing as an entry in a dictionary could legitimately be used in
communication -- as opposed to illegitimate, but still effective,
communication!
But I was also taught
that there is a difference between legitimate communication and “proper
English”. Proper English is what you use in English class when the teacher
is grading you. Legitimate communication is probably good enough for almost
(pun intended) everything else.
I see the word
“tonite” used a lot in formal communication, and it does not have its own
entry in the dictionary, although “nite” does. Also the word “gotta”
has its own entry, as in “When you gotta go, you gotta go”. And finally,
if you read the etymologies, you notice that a lot of words (albeit, alone,
along, also, altogether, etc.) originated as “all” plus another word.
I guess these changes
are what gives language it’s “life”, and makes us gray-hairs feel even
older than our arthritis already (pun intended) does.
David R. Fordham
PBGH Faculty Fellow
James Madison University
History Channel: Audio and Video --- http://www.historychannel.com/broadband/
Bob Jensen's history links are at http://www.trinity.edu/rjensen/bookbob2.htm#History
St. Petersburg 1900: A Photographic
Travelogue --- http://www.alexanderpalace.org/petersburg1900/index.html
Question
Are increased disclosure standards and transparency always a good thing if
generating and attestation costs are ignored?
Answer
I generally think so, but Jim Mahar's blog raises some interesting points on
February 17, 2005 ---
SSRN-Disclosure
Standards and Market Efficiency: Evidence from Analysts' Forecasts by Hui
Tong
SSRN-Disclosure
Standards and Market Efficiency: Evidence from Analysts' Forecasts by Hui
Tong:
Short version:
increased transparency reduces need (and hence profitability) of analysts.
Therefore following increased disclosure rules, the number of analysts
falls. Overall the net effect of increased transparency rules is unclear.
The author "examine[s] the effect of transparency by focusing on the
interaction between
public information availability and private information acquisition"
With this in mind, Tong
examines what happens when countries adopt stricter disclosure
requirements that increase transparency. Of course, you know my basic
stance that transparency is good. But Tong makes me re-examine that
position. My conclusion? Transparency is still good, but increasing
transparency is not without its costs.
Longer version: Unintended
consequences...often when one thing changes, other things (that at first
were seen as unaffected) change as well. This is one danger of static
analysis: we might overestimate the benefits of some change.
Hui Toing "examine[s] the effect of transparency by focusing on the
interaction between
public information availability and private information acquisition"
Rather than using spreads (a transparency measure used by previous
researchers), Tong " considers how international standards affect
analysts forecasts of listed companies earnings, where the accuracy
(dispersion) of these forecasts is used as a measure of information
accuracy (dispersion)."
Tong finds "that disclosure standards enhance forecast accuracy
directly but at the same time reduce the number of analysts per stock (the
variable that serves as my proxy for private investments in information).
The net effect of disclosure standards on forecast accuracy and dispersion
thus ranges from weak to nonexistent"
That is really an important insight! But I maintain that increasing
transparency is still good even if dispersion is not significantly
increased, this same level is being achieved with fewer analysts (and
hence lower costs--of course this assumes that the regulations that
increased the transparency are not more costly than the cost of employing
the analysts, but that topic will have to wait) .
Suggested Citation
Tong,
Hui, "Disclosure Standards and Market Efficiency: Evidence from
Analysts' Forecasts" (March 8, 2004). AFA 2005 Philadelphia
Meetings. http://ssrn.com/abstract=641842
This is a good, albeit
controversial, article that CEOs won't want to read.
"'SOX' It To Them," by Paul
Schaafsma, Financial Engineering News --- http://www.fenews.com/fen41/law_and_fe/law_and_fe.html#
Despite
these and other drawbacks, with compliance around the corner the sky has not
fallen. While admittedly expensive to implement, examination of some of the
claims CEOs have made about the cost of compliance leaves one scratching his
head. One publicly traded company with $300,000 in earnings estimated that it
would cost $250,000 to comply and is therefore de-listing. Earnings of
$300,000? What about the other costs of being a publicly traded company?
Further, several companies with less than $4 billion in revenues have
predicted that more than 20,000 staff hours are needed to comply; however, a
well-respected company with more than $35 billion in revenues estimates it
will need 5,000 staff hours to comply. Just what may have been going on before
that now requires 20,000 hours to address? And with information technology
consultants, law firms and accounting firms attacking the compliance issue as
a business opportunity on par with Y2K, many companies are simply spending too
much.
In
addition to making companies more transparent and executives more accountable,
many companies will reap additional benefits. For example, many companies have
multiple business units with varying standards of financial reporting. Smart
companies have used compliance as an opportunity to get a standardized
financial reporting system in place across a company’s business units.
And
like a residual benefit of the Y2K scare, many companies have updated and
standardized their company’s finance software to help in the compliance
process. In addition to minimizing the chance and therefore the costs of a
compliance issue, the operational benefits of having standardized, updated
financial software will accrue cost savings long into the future. Moreover,
smart companies have used their need to update their financial reporting
software as an opportunity to upgrade and standardize additional software,
such as their ERP systems.
Continued
in the article
Bob
Jensen's thread on SOX are at http://www.trinity.edu/rjensen/FraudProposedReforms.htm
Comparative
Indicators of Education in the United States and Other G8 Countries: 2004
Description: This report shows how the U.S. education system compares to other
major industrialized countries (Canada, France, Germany, Italy, Japan, Russian
Federation, United Kingdom) in four areas: (1) the context of education; (2)
preprimary and primary education; (3) secondary education; and (4) higher
education. This report is an update of the 2002 G8 Report, and is part of a
series to be published in alternate years.
"Comparative Indicators of Education in the United States and Other G8
Countries: 2004," --- http://nces.ed.gov/pubsearch/pubsinfo.asp?pubid=2005021
The report itself is 95 pages, so a lot
of data and tables are not mentioned in this summary.
Question
What nation has the highest percentage of 18-29-year-olds enrolled in higher
education?
Answer (see Page 10 of the report)
The U.S. with about 25% in 2001. Females exceeded males in all nations
except Germany.
I would have guessed a higher
percentage college students in Education. The Education numbers seem low
to me except for Canada. The study report below doesn't isolate business,
but previous studies would indicate 20-25% buried in the 44% figure for the U.S.
In other nations, the business studies are often buried under economics and/or
engineering.
I will probably pull some other
tidbits out of this report at a later time.
The United States leads major
industrialized nations in the study of the social sciences, business and law.
But Germany and Japan are ahead substantially in engineering.
Those are results from data
released Friday by the National Center for Education Statistics. The report
compares statistics from industrialized nations on all levels of education.
For higher education, one part of the
report compares how many "first university degrees" gained by citizens
in each country were awarded in various fields. Here are the results for 2001:
|
% of First Degrees in:
|
Canada
|
France
|
Germany
|
Italy
|
Japan
|
U.K.
|
U.S.
|
|
Social sciences, business and
law
|
36
|
38
|
27
|
42
|
40
|
27
|
44
|
|
Humanities and arts
|
15
|
23
|
16
|
13
|
19
|
21
|
17
|
|
Science
|
12
|
18
|
11
|
8
|
3
|
21
|
11
|
|
Engineering
|
8
|
12
|
20
|
18
|
19
|
11
|
7
|
|
Education
|
14
|
2
|
9
|
3
|
6
|
5
|
8
|
|
Other
|
15
|
8
|
17
|
16
|
13
|
16
|
13
|
The report also found that while the
United States was a leader in terms of the number of foreign students enrolled,
other nations exceeded the U.S. in terms of the percentage of enrolled students
who were from other countries. Here are the numbers for 2001:
| |
France
|
Germany
|
Italy
|
Japan
|
Russia
|
U.K.
|
U.S.
|
|
Foreign enr |