INDIANAPOLIS, IN – DECEMBER 06: A detail view of the helmet of Cameron Johnston #95 of the Ohio State Buckeyes as he attends warm ups before the Big Ten Championship against the Wisconsin Badgers at Lucas Oil Stadium on December 6, 2014 in Indianapolis, Indiana. (Photo by Andy Lyons/Getty Images)It’s Student-Appreciation Day for the Ohio State football program. Hundreds of Buckeye students have made the walk over to the Woody Hayes Athletic Center to watch Urban Meyer’s team practice. They get to stand close to the field, listen to pep talks from OSU’s coaches and take pictures with the players. Some lucky students even get to participate in the practice. Watch this Ohio State student knock down a field goal from 30 yards out. It’s Goooood! @OhioState undergrad “Chris” splits the uprights from 30yds at Studen-Appreciation Day! #GoBucks pic.twitter.com/5y6UDiLuFr— Brutus Buckeye (@Brutus_Buckeye) April 11, 2015
Senior wrestler Lance Palmer is well on his way to his fourth All-American title. Palmer found success long before making his way to the Buckeye mat, though. Palmer wrestled for St. Edward High School in Lakewood, Ohio, earning himself four consecutive state titles. The fourth state title was “icing on the cake,” he said. However, the state title was merely a warm-up for his 2006 Senior National Championship, his most coveted honor thus far.Palmer is looking past a fourth All-American title to reach his ultimate goal: becoming a National Champion.Working toward his goal has meant putting in more than 100 percent in practice. Keeping conditioning up is key to be able to go for seven minutes and not feel the fatigue halfway through, Palmer said.Practices account for conditioning and strength training, but Palmer said, “confidence level and mental attitude are just as important going into it.” Palmer competes in the 149-pound weight class, arguably the toughest overall, wrestling the best of the best every time. “It’s exciting and makes it fun to wrestle in such a competitive weight class,” he said. Palmer is ranked No. 3 in the weight class, behind No. 1 Iowa’s Brent Metcalf and No. 2 Wisconsin’s Kyle Ruschell. “The top three of us go at it back and forth every time we wrestle,” Palmer said. “It’s good being at the top and having other guys push you every time you wrestle.”Palmer has recorded 17 personal wins on the season. Two weeks ago, the Buckeyes traveled to Cedar Falls, Iowa, for the National Wrestling Coaches Association National Duals, where Palmer recorded a 5-0 decision. Among the highlights of the weekend was a 1:13 second pin over Arizona State’s Vicente Varela, his fourth pin on the season. That same day he defeated Cornell’s Hicks Manson 10-2 with four takedowns and one escape. Palmer was only one of three Buckeyes to defeat No. 2 Iowa State.He wrapped up his undefeated weekend with a win over Minnesota’s Mario Mason. After his impressive performance at the National Duels, Palmer immediately set his sights on the Big Ten home opener on Sunday. The Buckeyes face No. 12 Penn State at St. John Arena. “We’re going to go out and wrestle hard and we’re going to beat them,” Palmer said.Despite trying to break the home attendance record and Terrelle Pryor’s appearance as honorary captain, Palmer insists nerves won’t be a factor. “Having more people there can only help us,” Palmer said. “You thrive off the crowd.”Although Palmer is a senior this year, his name will still resonate on the mat. His younger brother, Collin Palmer, is a freshman on the team. This is the first time the two have wrestled together in four years. The Palmer brothers don’t compete in the same weight class, and they insist they are competitive with each other, not against. They are competing to help one another. They have the same goals in mind, but Collin admits that Lance usually pushes him more because he’s the harder worker. “I take [Collin] through the ropes and get him up to the level that I want him to be at for next year when he steps up,” Lance said. The Palmer brothers left a resounding legacy at St. Edwards and anticipate leaving that same mark in Buckeye wrestling lore.
Ohio State freshman guard Dorka Juhasz (14) attempts to put up a layup in the first half of the game against Indiana on Jan. 10. Ohio State won 55-50. Credit: Casey Cascaldo | Photo EditorThursday night’s contest between the Ohio State women’s basketball team and the Illinois Fighting Illini featured an ensemble performance from the Buckeyes that led to the victory. Ohio State saw four different players score 10 or more points, led by redshirt senior forward Makayla Waterman who scored a career-high 18 points complemented by seven rebounds, three assists and three steals. Coming off a road win against Minnesota, Waterman and the Buckeyes (9-10, 5-5 Big Ten) once again came from behind in the fourth quarter to defeat Illinois (9-12, 1-9 Big Ten) 78-70. Waterman said she felt comfortable out on the court in her matchup. “I just felt like I had an advantage over the person who was guarding me tonight,” Waterman said. “I’m an undersized post in the Big Ten, and I think that tonight I was trying to utilize that. I’ve really been focusing on finishing my moves and that was what worked tonight.”Also getting in on the scoring were redshirt senior guard Carly Santoro, who contributed 16 points with four assists, redshirt senior guard Carmen Grande, who scored 15 points on 4-of-12 shooting, with six rebounds and five assists and redshirt senior guard Andreana Miller, who shot 4-7 from the 3-point line to score 14 points. Waterman was quick to praise her teammates’ performances, but also cited that their play was not perfect.“We’re really trying to outwork people at this point, and I think that we did that tonight,” Waterman said. “This team, we know we have to win together. We know that each side is going to be collective whether it’s a couple people scoring double figures or everyone scoring we know that it’s going to be like that. There’s not one person can carry us this season.”In addition to the contributions from multiple members of the team, a key difference maker was Ohio State shooting extremely well from the 3-point line, hitting a season high 12 from deep on 27 attempts. The reason for the success was Ohio State taking advantage of Illinois, prioritizing the paint on defense according to head coach Kevin McGuff.“Illinois was in the point trying to take away our driving lanes and that gave us more 3-point opportunities,” McGuff said. “The way they were guarding us just led to us taking advantage and led to things being more open out there.”The game was largely back and forth between both teams. The Buckeyes led 35-26 at halftime and looked poised to take control of the game, but Illinois came out charging in the third quarter, scoring 23 in the frame to take a one-point lead into the fourth quarter. McGuff cited the play in the third quarter as a lack of focus from the Ohio State players.“Tonight, we played really hard, but we had some stretches where mentally we made a lot of errors,” McGuff said. “I told the players it’s great that we can learn that lesson off a win, but we put ourselves in positions where we could’ve lost that game.”But Ohio State pulled it together mentally and had a quick run of 10 points early in the fourth quarter featuring 3 pointers from Santoro and Miller to take control of the game. Illinois attempted to mount a late comeback, but staunch defense by the Buckeyes prevented the threat of a loss. Santoro said the success came from Ohio State taking advantage of foul trouble by Illinois. “We just really focused on attacking,” Santoro said. “We were in double bonus halfway through the third quarter, so that gave us an advantage and we used it to get to the free-throw line and hit some big shots at the end.” Freshman forward Dorka Juhasz returned to the court in limited play after being sidelined for two games with a sprained ankle. Juhasz scored three points coming off the bench and had five rebounds in 17 minutes of play..McGuff praised Juhasz for returning to the game and playing well with her injury. “I don’t know if she’s back to 100 percent yet, but it was very good to see her back out there,” McGuff said. “We needed her out there and one thing I thought that was really good was her size bothered them around the basket.” Ohio State heads back out on the road in a matchup against the Northwestern Wildcats. Tip-off is set at Welsh-Ryan Arena at 4:00 p.m. on Sunday.
Facebook Twitter Google+LinkedInPinterestWhatsAppGrand Turk, Turks and Caicos Islands, Wednesday July 13, 2016 – “My fellow Turks and Caicos Islanders, earlier this evening, a body, believed to be the remains of 26 years old Sorineida Moreno Arias, a Dominican national who was last seen on July 10 2016, was found in the area of North West Point in Providenciales.“While foul play has yet to be confirmed, it is suspected and I expect to be updated by the Commissioner of Police as the investigation into this recent discovery continues.“In the meantime, I wish to assure you that this incident, like all other crimes and especially those involving the loss of life, will be treated with the highest priority. It is in this vein that I have already reached out to the Governor asking him to begin engaging with criminal investigation units abroad, whose strength we can pull on to assist us in bringing perpetrators to justice, and I will be following up with him and the Commissioner of Police to ensure that all resources are behind bringing to close the spate of murders and other serious crimes within our borders.“To the family and friends of Ms. Arias and the Dominican community living among us, I offer, on behalf of my Government, my deepest sympathy. Our thoughts and prayers are with you at this time and I want you to know that we will do our utmost to bring those responsible to justice.“I have reached out to the Dominican Consul in an attempt to reach Mr. Danilo Medina Sanchez, the President of the Dominican Republic, to assure him and his countrymen of our commitment to finding the answers to the death of Ms. Arias and to bringing to justice those persons responsible for the deaths of Dominicans within our country and to also assure them that we take seriously our responsibility for the security and safety of our people and all persons residing among us.“I am therefore imploring all persons with any knowledge that can assist the police with this and any crimes to please speak up. We, the Government, will continue to do our best to combat crime and we ask that you also play your part to help us keep our country safe.“May God continue to protect you, may He continue to bless you and may He continue to bless these our Turks and Caicos Islands.” Facebook Twitter Google+LinkedInPinterestWhatsApp Related Items:
Durga Puja, the biggest religious festival of the Hindu community, begins today, Monday with the incarnation (Bodhon) of goddess Durga at temples across the country, marking Sashthi, according to UNB.The five-day puja will come to an end with the immersion of idols of goddess Durga in rivers and other water bodies on 19 October.Preparations have already been completed for smoothly celebrating the religious festival.The Mahasaptami puja will be held on Tuesday (16 October) while Mahashtami, Kumari Puja and Sandhi Puja on Wednesday (17 October), Mahanabami puja on Thursday (18 October) and Biyoya Dashami will be held on Friday (19 October).On Sunday, devotees and artisans were seen busy taking the last moment preparations and tastefully decorating the temples across the country.Throughout the day on Monday, recitation of the verses from the Holy Chandi and blowing of conch shells (Shankha) and beating of drums will be heard in temples and pandals in the city and elsewhere.Draped in new dresses, a large number of devotees irrespective of ages will throng the city pandals, particularly at Dhakeshwari National Temple, and offer prayers before goddess Durga seeking divine blessings for peace, prosperity and welfare of the country and its people.Adequate security measures have been taken for smooth celebrations of the festival.Additional members of police, Ansar, Rapid Action Battalion and other law enforcement agencies have been deployed in puja mandaps to ensure a full-proof security.In separate messages, president Abdul Hamid and prime minister Sheikh Hasina greeted the members of the country’s Hindu community marking the festival.
New Delhi: Trinamool Congress (TMC) MP Mahua Moitra on Thursday moved a breach of privilege motion in the Lok Sabha against a Hindi news channel and its anchor for falsely reporting her debut speech in Parliament last week. “Sir, under Rule 225, I have given a breach of privilege notice against Zee TV and its editor Sudhir Chaudhary for falsely reporting my maiden address in the House,” Moitra said during zero hour in Lok Sabha. She earlier tried to raise the issue during question hour, but Speaker Om Birla did not allow her. The Speaker said he had received a notice in this regard and the matter was under consideration. Also Read – Rs 13,000 crore investment to provide 2 lakh jobs: Mamata In her speech last week, Moitra lambasted the Modi government pointing out to the signs of fascism during its five years in power. Moitra said she had read about these “signs of fascism” at the World War II Holocaust Memorial in the US. The speech, which drew a lot of praise on the social media, later invited allegations of plagiarism. However, after American commentator Martin Longman, the author of article that Moitra was accused of lifting, on Wednesday came forward to clarify that the charges against her were false, the TMC MP lashed out at the media. “The reason there is so much of mudslinging and lies sold as news to unsuspecting public all over is because the perpetrators are allowed impunity by the powers that be,” Moitra tweeted. Moitra also shared Longman’s clarification on her Twitter handle tagging Zee News Editor-in-Chief Sudhir Chaudhary, who claimed that her speech was plagiarised.
18Oct Chatfield advances bills to end driver responsibility fees Bipartisan package ends punitive, senseless penalties Categories: Chatfield News,News State Rep. Lee Chatfield today voted in the House Michigan Competitiveness Committee to approve a bipartisan package of bills to eliminate driver responsibility fees by 2018 and forgive outstanding debt.Chatfield, of Levering, who chairs the committee, said driver responsibility fees were initiated by politicians in 2003 as a scheme to plug a hole they created in the state budget. Since then, thousands of northern Michigan residents have been burdened with the fees, which have either taken them out of the job market or forced them to drive illegally to support their families.“This is a bad law that should have never been passed in the first place. It did nothing to improve driving skills and it’s about time we end this failed policy,” Chatfield said. “The elimination of driver responsibility fees and restoration of driving privileges will help people get back to work so they can earn a living and provide for their families.”The bills will end driver responsibility fees by Oct. 1, 2018 and forgive the $600 million in outstanding debt. Between the time of passage and Oct. 1, people paying the fees can meet their obligations through community service or participating in workforce development programs.“Instead of holding people back by keeping them in debt, we are enabling them with an opportunity to get ahead in life,” Chatfield said.The bills now go to the full House for consideration.#####
Vodafone saw its base of converged customers rise significantly despite little if any growth in TV in Germany and Spain in its fiscal first half. The telco added 310,000 converged customers in the six months to September, taking its converged total to 4.1 million, or 4.9 million including its VodafoneZiggo joint venture with Liberty Global.Vodafone had 9.8 million TV customers overall at the end of September, or 13.7 million including VodafoneZiggo.In Germany, the company’s TV base lost 34,000 customers over the first half, standing at 7.7 million, but it added 110,000 converged customers year-on-year through marketing its GigaKombi offers, taking its converted base to 0.5 million.In Spain, Vodafone admitted that its TV growth was hit by a delay in its fiscal first quarter in offering TV to new homes in its wholesale footprint and a greater focus on premium packages. The operator added 23,000 TV homes in the first half, with Q2 gains offsetting Q1 losses, compared with 57,000 broadband adds and 94,000 contract mobile adds. However, its converged offering, Vodafone One, combining fixed, mobile and TV, reached 2.5 million in September, up 459,000 year-on-year.In Italy, where TV was added to its product line-up more recently, Vodafone added 15,000 TV customers in the course of the first half to reach 17,000. The telco had 583,000 converged consumer homes at the end of September, having added 112,000 broadband homes in the first half.In Portugal, Vodafone added 34,000 TV customers in the first half, taking its total to 527,000.Vodafone said that its fixed-line business now accounted for a quarter of group service revenues, up from a fifth three years ago.Vodafone’s first-half performance overall was generally better received than has been the case of late, with the company raising its full year adjusted ETIBTDA guidance. The company’s revenues were down 4.1% to €23.1 billion, due to the deconsolidation of the Dutch unit and foreign currency effects, but organic service revenue was up and organic adjusted EBITDA grew by 13% to €7.4 billion.
By Keith Weiner, New Austrian School of Economics Worldwide, an incredible tower of debt has been under construction since President Nixon’s 1971 default on the gold obligations of the US government. His decree severed the redeemability of the dollar for gold and thus eliminated the extinguisher of debt. Debt has been growing exponentially everywhere since then. Debt is backed with debt, based on debt, dependent on debt and leveraged with yet more debt. For example, today it is possible to buy a bond (i.e., lend money) on margin (i.e., with borrowed money). The time is now fast approaching when all debt will be defaulted on. In our perverse monetary system, one party’s debt is another’s “money.” A debtor’s default will impact the creditor (who is usually also a debtor to yet other creditors), causing him to default, and so on. When this begins in earnest, it will wipe out the banking system and thus everyone’s “money.” The paper currencies will not survive this. We are seeing the early edges of it now in the euro, and it’s anyone’s guess when it will happen in Japan, though it seems long overdue already. Last of all, it will come to the USA. The purpose of this article is to present the early-warning signal and explain the actual mechanism to these events. Contrary to popular belief, it will not happen because the central banks increase the quantity of money to infinity. The money supply may even be contracting (which is what I expect). To understand the terminal stages of the monetary system’s fatal disease, we must understand gold. Defining Backwardation First, let me introduce a key concept. Most traders define “backwardation” for a commodity as when the price of a futures contract is lower than the price of the same good in the spot market. In every market, there are always two prices for a good: the bid and the ask. To sell a good, one must take the bid. And likewise, to buy the good, one must pay the ask. In backwardation, one can sell a physical good for cash and simultaneously buy a futures contract, and make a profit on the arbitrage. Note that in doing this trade, one’s position does not change in the end. One begins with a certain amount of the good and ends (upon maturity of the contract) with that same amount of the good. Backwardation is when the bid in the spot market is greater than the ask in the futures market. Many commodities, like wheat, are produced seasonally. But consumption is much more evenly spread around the year. Immediately prior to the harvest, the spot price of wheat is normally at its highest in relation to wheat futures. This is because wheat inventories in the warehouses are very low. People will have to pay a higher price for immediate delivery. At the same time, everyone in the market knows that the harvest is coming in one month. So the price, if a buyer can wait one month for delivery, is lower. This is a case of backwardation. Backwardation is typically a signal of a shortage in a commodity. Anyone holding the commodity could make a risk-free profit by delivering it and getting it back later. If others put on this trade, and others, and so on, this would push down the bid in the spot market and lift up the ask in the futures market until the backwardation disappeared. The process of profiting from arbitrage compresses the spread one is arbitraging. Actionable backwardations typically do not last long enough for the small trader to even see on the screen, much less trade. This is another way of saying that markets do not normally offer risk-free profits. In the case of wheat backwardation, for example, the backwardation may persist for weeks or longer. But there is no opportunity to profit for anyone, because no one has any wheat to spare. There is a genuine shortage of wheat before the harvest. Why Gold Backwardation Is Important Could backwardation happen with gold? Gold is not in shortage. One just has to measure abundance using the right metric. If you look at the inventories divided by annual mine production, the World Gold Council estimates this number to be around 80 years. In all other commodities (except silver), inventories represent a few months of production. Other commodities can even have “gluts,” which usually lead to a price collapse. As an aside, this fact makes gold good for money. The price of gold does not decline, no matter how much of the stuff is produced. Production will certainly not lead to a “glut” in the gold market pulling prices downward. So, what would a lower price on gold for future delivery mean compared to a higher price of gold in the spot market? By definition, it means that gold delivered to the market is in short supply. The meaning of gold backwardation is that trust in future delivery is scarce. In an ordinary commodity, scarcity of the physical good available for delivery today is resolved by higher prices. At a high enough price, demand for wheat falls until existing stocks are sufficient to meet the reduced demand. But how is scarcity of trust resolved? Thus far, the answer has been: via higher prices. Higher prices do coax some gold out of various hoards, jewelry, etc. Gold went into backwardation for the first time in December 2008. One could have earned a 2.5% (annualized) profit by selling physical gold and simultaneously buying a February 2009 future. Gold was $750 on December 5, but it rocketed to $920 – a gain of 23% – by the end of January. But when backwardation becomes permanent, then trust in the gold futures market will have collapsed. Unlike with wheat, millions of people and many institutions have plenty of gold they can sell in the physical market and buy back via futures contracts. When they choose not to, that is the beginning of the end of the current financial system. Why? Think about the similarities between the following three statements: “My paper gold future contract will be honored by delivery of gold.” “If I trade my gold for paper now, I will be able to get gold back in the future.” “I will be able to exchange paper money for gold in the future.” The reason why there was a significant backwardation (smaller backwardations have occurred intermittently since then) is that people did not believe the first statement. They did not trust that the gold future would be honored in gold. And if they don’t believe that paper futures will be honored in gold, then they have no reason to believe that they can get gold in the future at all. If some gold owners still trust the system at that point, then they can sell their gold (at much higher prices, probably). But sooner or later, there will not be any sellers of gold in the physical market. Higher Prices Can’t Cure Permanent Gold Backwardation With an ordinary commodity, there is a limit to what buyers are willing to pay based on the need satisfied by that commodity, the availability of substitutes and the buyers’ other needs that also must be satisfied within the same budget. The higher the price, the more holders and producers are motivated to sell, and the less consumers are motivated (or able) to buy. The cure for high prices is high prices. But gold is different. Unlike wheat, gold is not bought for consumption. While some people hold it to speculate on increases in its paper price, these speculators will be replaced by others who hold it because it is money. Once the gold owners have lost confidence, no amount of price change will bring back trust in paper currencies. Gold will not have a “high enough” price that will discourage buying or encourage selling. Thus gold backwardation will not only recur, but at some point, it will stay in its backwardated state. In looking at the bid and ask, one other observation is germane to this discussion. In times of crisis, it is always the bid that is withdrawn – there is never a lack of asks. Permanent gold backwardation can be seen as the withdrawal of bids denominated in gold for irredeemable government debt paper (e.g., dollar bills). Backwardation should not be able to happen at all as gold is so abundant. However, the fact that it has happened and keeps happening means that it is inevitable and that, at some point, backwardation will become permanent. The erosion of faith in paper money is a one-way process (with some zigs and zags). But eventually, backwardation will become deeper and deeper (while the dollar price of gold is rising, probably exponentially). The final step is when gold completely withdraws its bid on paper. At that point, paper’s bid on gold will be unlimited, and this is why paper will inevitably collapse without gold. Conclusion Permanent gold backwardation leading to the withdrawal of the gold bid on the dollar is the inevitable result of the debt collapse. Governments and other borrowers have long since passed the point where they can amortize their debts. Now they merely “roll” the debt and the interest as they come due. This leaves them vulnerable to the market demand for their bonds. When they have an auction that fails to attract bids, the game will be over. Whether they formally default or whether they just print the currency to pay, it won’t matter. Gold owners, like everyone else, will watch this happen. If government bond holders sell their securities in response to this crisis, they will only receive paper backed by that same government and its bonds. But the gold owner has the power to withdraw his bid on paper altogether. When that happens, there will be an irreconcilable schism between gold and paper, with real goods and services taking the side of gold. And in a process that should play out within a few months once it gets started, paper money will no longer have any value. Gold is not officially recognized as the foundation of the financial system. Yet it is still a necessary component. When it is withdrawn, the worldwide regime of irredeemable paper money will collapse. [The ways to really profit on gold’s backwardation are to start accumulating physical gold now and to identify the explorers who are most likely to generate wins in the resource sector. Learn how to follow the money-makers to increase your own wealth, starting today.]
In This Issue. * Euro is rescued by stronger GDP… * Irish set to vote on the EU treaty… * Gold is nearing last year’s lows… * A look back at Chuck’s thoughts for 2012… And, Now, Today’s Pfennig For Your Thoughts! Euro continues to drop… Good day. We made it through another Monday without too much damage in the currency markets. You know things are getting pretty rough in the currency markets when we consider an average drop of just over 1% in the currencies ‘not too bad’. WorldMarket investors can’t say they weren’t warned we would see some tough times over the first half of the year (see more on this subject in the “Then there was this” section). The euro continued to drop on Monday, falling to its lowest level in almost four months as more and more people begin to imagine a Euro without Greece. The dollar has been the biggest benefactor of the latest Euro-zone crisis, as investors moved money back into the US treasury markets. The rush back to safety pushed the yield on the US long bond back below 3%, and the shorter maturities are also lower. The Greeks are still without a unified government after the biggest anti-bailout party decided against joining the government. It is looking more and more like the Greeks will be forced back to the polls for another round of voting. And the Greeks aren’t the only ones heading to the polls. The Irish will vote on a referendum May 31 which asks the public to approve the “EU Stability Treaty”. While a sharp turn to the left in Greece and the return of the Socialist party to the French Presidency has sent the euro lower; an Irish rejection of the EU treaty could be the last straw for German led austerity measures. On the flipside, the stability pact only requires 12 nations to ratify it, and German Chancellor Merkel seems to be warming to adjustments to the treaty’s stringent fiscal rules. While a Greek exit is still a possibility, Germany could still allow them to stay after loosening the rules on maximum deficits. Many of the countries who use the euro are in better shape than Greece, but still need the ability to stimulate their economies. All of this will be debated and discussed at the next EU Summit meeting on May 23rd. Hollande will be representing France, but it will be interesting to see if the Greek government gets organized enough to send a representative to the bargaining table. The euro has settled into a tighter trading pattern overnight, and is actually starting to move higher as I write this morning. A better than expected GDP reading showed the German economy avoided ‘double dipping’ into a second recession. Gross domestic product in the 17 nation euro region came in flat for the first quarter, compared to an expected .2% decline. Germany’s economy grew .5% during the first quarter, a surprisingly strong number which offset some of the weaker GDP numbers in the peripheral economies. The dollar index snapped 11 days of gains overnight, as it weakened slightly ahead of a full morning of data here in the US. We start the morning off with the inflation numbers for April with CPI predicted to have rose 2.3% vs a year ago, down from a 2.7% rise in March. We will also see the Empire Manufacturing number, Advance retail sales, Total Net TIC flows, and Business Inventories. There will be plenty of data for currency traders to move the markets. If the data shows the US economy is continuing to slide, we could see renewed calls for another round of Quantitative Easing here in the US. The impact of QEIII (or is it IV?) on the currency markets is tough to predict. More stimulus would probably cause the equity markets here in the US to rally, and would give the dollar a short term boost. But ultimately, QE is negative for the dollar, as it pumps more money into the markets, driving interest rates lower and causing inflation risks to rise. With this being an election year, the administration is geared now more than ever on the short term, so if the data shows any weakness in the economy, we could see another push for stimulus. An article appearing in yesterday’s Wall Street Journal online was appropriately titled ‘Rare Speed Bump in Commodities’ Long Run’. The title caught my eye, as it reflects exactly what I think we are seeing, a short term pause in what I believe will be a continuation of the long commodity bull market. But in the short term, both oil and gold are being sold off. Worries about the slowdown in China, combined with questions surrounding the Euro-zone credit crisis have decreased future demand for commodities. Oil dropped below $94 for a short period yesterday before rallying back later in the day. Gold has also dropped, erasing its gains for the year. I just don’t understand why Gold is selling off in the face of such uncertainty. After all, gold is the only ‘real’ currency so why wouldn’t people be moving into gold as they sell positions in ‘risk’ assets? I guess one answer would be that investors are no longer worried about inflation, and some of these investors had accumulated gold positions as an inflation hedge. Others will point toward Central Bank selling into the markets, getting value from one of the only assets which has maintained value. Still others will undoubtedly point toward ‘market manipulation’, but I will stay away from that in today’s Pfennig. Most of the commodity based currencies have sold off in tandem with the drop in oil and precious metals. The Aussie dollar continues to slide lower along with the Kiwi and South African rand. Brazil’s real tumbled and traded above 2 per $ for the first time in almost 3 years after Finance Minister Mantega said the exchange rate doesn’t worry the government. This only led to further selling of the currency, as traders took Mantega’s words as encouragement to sell the real vs. the US$. Brazil’s government is using a weaker real and lower interest rates to help stimulate their economy. Investors are expecting another cut to the benchmark interest rate by the end of 2012. Then there was this. Chuck usually uses this section to share something he has read recently which struck a chord with him. Yesterday I mentioned Chuck’s predictions regarding the euro volatility during 2012, and a couple of readers asked me where they could read his projections. That got me looking through some of the past editions of Chuck’s Review and Focus, and I came across the following in the January 1, 2012 edition: A Look into 2012 As we turn the calendar to 2012, most of us know all too well that this is the year the Mayans predicted apocalypse. But maybe they just failed to finish the calendar! OK, that was my attempt at humor, which I’m sure will get shot down in a heartbeat by many. 2012 will also be an election year, so maybe the Mayans were on to something. Nevertheless, this is the event or the run-up to the event that will put the dollar back to its underlying weak trend. I’ll explain in a minute, but first… I do believe that the first half of 2012, non-dollar investors using foreign currencies and precious metals will have to have some thick skin, and batten down the hatches. This shouldn’t come as a surprise to you, dear reader, for in October 2011, I wrote that we were approaching a perfect storm for dollar strength, and that we should expect to see a period of dollar strength that could last several months. While that perfect storm hovered over the euro and other currencies, not really taking its wrath out on the non-dollar investments, the storm became stronger until it finally unleashed itself on the markets late in 2011. So, here we are starting 2012, just like we’ve started the past few years, dealing with dollar strength. This happens almost every year, due to renewed forecasts for economic vigor in the U.S., only to see those forecasts fade away by the time summer comes around. And I do believe this is where we are this year, too. Chuck wrote those last few paragraphs over 5 months ago, but he was pretty right on with his call for dollar strength during the first half of the year. Now we will see what happens from here, will we see that event which puts the dollar back to its underlying weak trend? To recap. The euro continued to slide yesterday as a Greek exit from the euro was on the minds of most currency traders. Euro leaders will discuss a possible ‘growth pact’ at their summit on May 23, and Ireland will vote on the ‘stability pact’ at the end of May. Looks like volatility in the euro will continue! We will get a ton of data in the US today, could it point to QEIII? Commodities sold off, forcing commodity based currencies lower. And we ended with a look back at Chuck’s thoughts for the first half of 2012. Currencies today 5/15/12. American Style: A$ $1.0002, kiwi .77657, C$ .9990, euro 1.2859, sterling 1.6055, Swiss $1.0707, . European Style: rand 8.1812, krone 5.9258, SEK 7.0301, forint 227.04, zloty 3.3576, koruna 19.7985, RUB 30.3399, yen 79.91, sing 1.2546, HKD 7.7659, INR 53.755, China 6.3180, pesos 13.6642, BRL 1.9962, Dollar Index 80.573, Oil $94.73, 10-year 1.80%, Silver $28.295, Gold $1,559.25, and Platinum $1,451.50. That’s it for today. Another beautiful day in St. Louis, I just wish we could open up the windows! Good luck to my co-worker Mike Meyer who will be taking a securities exam today (not sure which one he is taking, but I do know that none of them are a bunch of fun!). We had a busy day on the desk yesterday, as we are three short including Chuck. Looks like today will be another busy one, as the phones are already ringing, so I better hit the send on today’s Pfennig. I hope everyone has a Terrific Tuesday, and thanks for reading the Pfennig! Chris Gaffney, CFA Vice President EverBank World Markets 1-800-926-4922 1-314-647-3837 www.everbank.com
Advertisement The Internet Corporation for Assigned Names and Numbers (ICANN) has fallen victim to an outside attack.The non-profit corporation admitted on Thursday that within the past week, usernames, email addresses, and encrypted passwords for profile accounts on its public website were obtained by an “unauthorised person”.The leaked information includes user preferences, public biographies, interests, newsletters, and subscriptions. – Advertisement – “The encrypted passwords appear to have been obtained as a result of unauthorised access to an external service provider,” ICANN said.The good news is that there is no evidence to suggest that any profile accounts, or internal ICANN systems have been accessed without authorisation, nor that any operational information, financial data, or Internet Assigned Numbers Authority (IANA) systems were involved.As a precaution ICANN is requiring that all users reset their passwords.“We sincerely regret any inconvenience or concern this incident may cause.”ICANN fell victim to a phishing attack less than a year ago, which resulted in the attackers gaining administrative access to some of ICANN’s systems, including its Centralised Zone Data Service (CZDS).[Via]
Attend this free webinar and learn how you can maximize efficiency while getting the most critical things done right. Next Article Assistant Professor of Entrepreneurship and Records-Johnston Professor of Free Enterprise in the School of Entrepreneurship at Oklahoma State University Opinions expressed by Entrepreneur contributors are their own. Past all the incendiary rhetoric, one of the key differences between Democrats and Republicans is the question of how far-reaching government intervention should be. Nowhere is this more apparent than in the most recent battleground over regulations: net neutrality.Federal Communications Commission (FCC) Chairman Ajit Pai — a Republican appointee — championed a commission vote in December to repeal net neutrality regulation, arguing that deregulating internet service providers would bolster the economy.Under a repeal, broadband providers would no longer be prohibited from blocking websites or charging for higher-quality service or certain content. The FCC, under Pai’s leadership, says that ISPs like AT&T and Comcast will offer a better variety of niche services to enhance the customer experience if they are liberated from pesky regulations.Related: The FCC Repealed Net Neutrality — Here’s What That Means for YouThe issue is hardly settled: Democrats in the U.S. Senate disagreed with the FCC move and last month voted 52-47 to quash the repeal, but their bill is not expected to pass the House. And, even if it does, President Trump is extremely unlikely to sign it. As it stands, the repeal of net neutrality is set to take effect today, June 11.The FCC’s repeal uncorked a tidal wave of outrage from net neutrality advocates, who fear a future of slower internet service, higher costs and fewer consumer choices. But those advocates should hold on — because the loosening of regulatory hurdles actually fits into a market-oriented mindset that breeds entrepreneurial innovation. Here’s how:Tempest in a teapotMost of the fears about dissolving net neutrality are misplaced. There’s the fear, for instance, that internet service providers (ISPs) will monopolize internet access and price-gouge consumers, but this is a strange way of looking at things. In fact, deregulation and monopolies aren’t as scary in the real world as they are in our imaginations.In practice, goods and services can cost only as much as people are willing to pay for them. It’s not like the government is the only thing keeping AT&T and Comcast from arbitrarily doubling their pricing. Economics simply doesn’t work that way.The fact is that some people use more internet bandwidth than others, and offering uniform access is an inefficient model. Think of it as being like a city with congested rush-hour traffic: If there’s no cost to use a given resource, such as a road, it will be used more.We decrease city traffic with carpools and public transportation and allow priority access to emergency vehicles. Of course, none of these controls add cost to the service; they just lead to greater efficiency because people are given different levels of access, depending on their usage.The net neutrality kind of approach treats all drivers the same, whether they’re driving a bus, a motorcycle or an ambulance. And public safety announcements and other important information are given the same priority as online gaming and pirated movies.It’s not an ideal situation.Related: Net Neutrality Is Quashed, at Least for Now: Will That Repeal Stall Your Startup?Finding a better wayEven as internet users mourn the loss of net neutrality, entrepreneurs willing to play in the deregulated environment can take advantage of slower-moving competition. Here’s what they need to know to get started:1. Businesses will pay premiums for guaranteed bandwidth. A free service that doesn’t work is costlier in the long run than is paying for guarantees. Imagine that a Skype call with an important client has massive consequences for your company, but your connection suddenly freezes.Paying a few bucks to guarantee the bandwidth involved could make the difference between keeping and losing that client. Nearly 90 percent of American adults are online, according to Pew Research Center, and net neutrality effectively prevents ISPs from making specific promises to anyone. With net neutrality removed, however, guaranteed bandwidth offers are likely to gain popularity.2. New services will be able to take advantage of guaranteed access. Remote surgery and telemedicine aren’t prolific these days because medical services compete with gaming and everything else online. And in other sectors, new services can’t be offered because they likely require fast access to specific servers and reliable connections.The ability to differentiate is a vital component of innovation, and separating high-bandwidth users and guaranteed-bandwidth users could be key. According to research by Verizon, nearly all businesses use the cloud, and this situation comes with delays in data transmission.That’s why Google and others are laying fiber-optic cable around the world to speed things up and get around the problem, but repealing net neutrality will speed up the process more.3. Entrepreneurial companies will be able to offer software to allocate network traffic. HBO’s Game of Thrones is one of the most popular shows on the air. Whenever a new episode drops, it’s often enough to crash HBO’s streaming service. This leads some users to abandon legal channels and resort to piracy for their knights and dragons fix; and as global internet traffic continues to rise and popular shows to be aired, things will only get worse.Any company that can relieve this congestion is sure to gain the attention of companies such as HBO, and the various ISPs.4. Entrepreneurs will be able to sell on-demand data. The average American household has 14.7 connected devices using 190 gigabytes per month online, according to iGR. Netflix, YouTube and other online video streaming services eat the bulk of this data.Offering on-demand a la carte internet services to travelers in hotel rooms and other public places could become a big business for anyone offering it. ISPs aren’t the only ones capable of setting up public hotspots in major cities.There’s immense value in innovation that we’re not tapping into right now, simply because under net neutrality, ISPs aren’t allowed to differentiate between users and uses. While equality sounds great on paper, it ignores what it really means to categorize and segregate customer traffic.Related: Why Innovation Is Increasingly Becoming Critical to EntrepreneurshipOnce the repeal goes through, some people might choose to pay more for increased or dedicated bandwidth or simply the promise of specific speeds when needed; and those funds could be used to upgrade current internet infrastructure with better technology and more broadband capabilities. The only people who will lose in this scenario are the small minority of heavy users (e.g., online gamers) who currently cannibalize all the bandwidth. These are the people who are most vocally opposed to net neutrality’s repeal, and they’re the reason it needs to be repealed in the first place. Free Webinar | Sept 5: Tips and Tools for Making Progress Toward Important Goals Guest Writer How to Unlock the Free Market Possibilities of Net Neutrality’s Repeal A whole lot of innovation is waiting to be tapped once ISPs are allowed to differentiate between users and uses under net neutrality. Add to Queue June 11, 2018 Per Bylund 6 min read –shares Image credit: Bloomberg | Getty Images Net Neutrality Register Now »
The only list that measures privately-held company performance across multiple dimensions—not just revenue. Next Article Technology –shares August 23, 2013 Image credit: jamesbond.wikia.com Jason Fell Say goodbye to the gridlock on your morning commute. Taking a cue from James Bond’s Q, developers in New Zealand have come up with a personal jetpack that not only looks amazing, it might actually work.The machine is the brainchild of inventor Glenn Martin, who has been working on the design for more than three decades. “Inspired by childhood television shows such as Thunderbirds and Lost in Space, Martin set out in the early 1980s to create a jetpack suitable for everyday use by ordinary people with no specialist pilot training,” the AFP reported.Called Martin Aircraft, the developers came up with a machine that consists of a pair of cylinders with propulsion fans attached to a free-standing carbon-fiber frame. To pilot the device, one backs into the frame, straps him or herself in and uses a pair of joysticks as controls.Technically, the Martin Aircraft “jetpack” might not be a true jetpack after all, since it is propelled by fans blowing air instead of the traditional idea of jets of escaping gases. But, who cares? This thing looks cool. It even comes with a rocket-propelled parachute in case the pilot loses control.While the group is still working out some details on the design, New Zealand’s Civil Aviation Authority issued the device a permit for manned test flights. In a 2011 test, a Martin Aircraft successfully carried a dummy pilot 5,000 feet above sea level.Martin Aircraft says a version of the jetpack designed for the military and first-responder emergency crews could be ready for delivery as early as 2014, according to the AFP. A model aimed at the general public is expected to be on the market in 2015 and cost somewhere between $150,000 and $250,000.I hope the price comes down, significantly, or how else am I supposed to pretend I’m James Bond in Thunderball?What crazy apps and gadgets have you come across lately? Let us know by emailing us at FarOutTech@entrepreneur.com or by telling us in the comments below. Move Over James Bond. Here Comes a Jetpack for the Rest of Us Entrepreneur Staff Add to Queue 2 min read Director of the Entrepreneur Partner Studio 2019 Entrepreneur 360 List Apply Now »
Fireside Chat | July 25: Three Surprising Ways to Build Your Brand The Chinese Warren Buffett Is the Latest Financier to Go Missing It’s hard to imagine Warren Buffett, JP Morgan’s CEO Jamie Dimon, or hedge fund manger Bill Ackman disappearing without explanation. But that’s what’s been happening to their counterparts in China over the last few months.The latest is that the chairman of conglomerate Fosun, Guo Guangchang, has been out of contact with the company for at least a day, Caixin said. Trading was halted Friday in two of conglomerate’s listed firms in Hong Kong. Postings yesterday on Chinese social media said Guo was seen being taken away by police at a Shanghai airport, Caixin notes. Requests for comment to Fosun today went unreturned.Guo and Fosun have international reputations for emulating Buffett’s Berkshire Hathaway conglomerate model by using insurance assets to expand into other industries. Fosun has taken stakes in Cirque du Soleil, Club Mediterranée, and two years ago bought the former Chase Manhattan Plaza in New York. Fosun dished out almost $6 billion over the past two years acquiring insurance assets, according to a Bloomberg tally.In other words, this is not a provincial Chinese company without influence.Guo’s absence doesn’t mean he’s guilty of anything. The process is just the way the Chinese run their investigations. Witnesses can be “taken away” to help police and investigators build cases. China’s judicial system is opaque and controlled by the ruling Communist Party; its investigations are no different.China’s probe into its finance industry, and this summer’s stock meltdown in particular, is in full swing. Earlier this week, the resignation of the head of China’s fourth-largest state-owned bank was linked to a corruption investigation. Last week anonymous sources confirmed that one of the most powerful anti-corruption investigators, Fu Zhenghua, an enforcer with close ties to President Xi Jinping, was leading the probe into the summer’s stock meltdown.Before Fosun, the most notable case of a disappearance was that of Li Yifei, chairwoman of the Chinese unit of London’s largest listed hedge fund manager, Man Group Plc. Bloomberg reported, and Li later denied, that she was taken into custody to assist with a police probe into the stock crash.In China, these type of investigations must be viewed with cynicism because they can be used by the leadership to expunge rival power factions. China watchers note that the recent focus on the financial industry may be part honest insider trading investigation, but also a political purge of rival factions.The Guo case is just the latest of disappearances.In late November, a subsidiary of one of China’s largest brokerages, Guotai Junan, confirmed that it hadn’t been able to reach its chairman since the previous week. The suspicion was that Yim Fung had been “taken away” by authorities, a Chinese euphemism for executives being taken into police custody, to help in the investigation of the stock market crash that caused global equities to shed $5 trillion in shareholder value.Earlier in September, the assistant chairman of the China Securities Regulatory Commission, Zhang Yujun, who was leading the regulators’ efforts to prop up the stock market this summer, was removed from office for a “severe violation of discipline,” or corruption.In the beginning of the year, the president of China Minsheng Bank, the country’s first privately run bank, resigned after Caixin, again, reported that he had been investigated for corruption.At the time, Fosun’s Guo sold off his entire stake in the publicly traded Minsheng. News of his disappearance has brought the probe full circle. Scott Cendrowski Enroll Now for $5 China Next Article December 11, 2015 –shares This story originally appeared on Fortune Magazine Learn from renowned serial entrepreneur David Meltzer how to find your frequency in order to stand out from your competitors and build a brand that is authentic, lasting and impactful. 4 min read Image credit: Photograph by Brent Lewin — Bloomberg via Getty Images Add to Queue
Audi Germany and Salesforce Activate the Future of Automotive with Digital Offerings PRNewswireApril 18, 2019, 4:45 pmApril 18, 2019 Audi’s Innovative Solution, Functions-On-Demand, to Be Featured on Stage at Salesforce Basecamp Events in Several German CitiesAudi Germany, a leading manufacturer of automobiles and motorcycles in the premium segment, is pooling its expertise in the area of e-mobility with Salesforce, the global leader in CRM, to deliver smart, personalized customer engagement throughout the entire customer lifecycle. Audi’s new innovative “Functions-on-Demand” solution enables customers to order and obtain—temporarily or permanently—optional equipment and services for their vehicles. As a result, owners of an Audi benefit from a high degree of flexibility and freedom. The Audi e-tron and Functions-on-Demand solution can be experienced at the Salesforce Basecamp events in Munich, Düsseldorf and Berlin.Marketing Technology News: Strum Platform Launches as New Business Intelligence Data Analytics Software Designed for User Personalization, Targeting and ROI PerformanceAudi e-tron with Functions-on-DemandWith the Audi e-tron, Audi introduced its first fully electric production vehicle in the fall of 2018 and with Functions-on-Demand, Audi customers can continually adapt their cars with the ability to temporarily or permanently obtain special equipment such as lights, driver-assistance systems and infotainment. This solution, built with Salesforce Marketing Cloud, allows Audi to provide its customers maximum flexibility and customization of their vehicles. Salesforce powers communication for Functions-on-Demand, putting Audi customers in the center of the process: customers receive personalized services through one single interface, and in turn, Audi benefits from a closer connection to its customers and better understanding of their needs.Marketing Technology News: Next Generation of Infor CloudSuite CRM Now Available“In the Fourth Industrial Revolution, artificial intelligence and IoT are setting new customer expectations,” said Markus Ehrle, SVP Enterprise Business, Germany, Salesforce. “This trasformation is especially significant in the automotive industry. Audi understands this, and is unifying the customer journey on Salesforce to give customers an innovative experience without any roadblocks.”Marketing Technology News: Parks Associates: 8% of US Broadband Households own a VR Headset, While 25% are Familiar With VR Headsets Artificial IntelligenceAudi Germanycrmmarketing cloudMarketing TechnologyNewsSalesforce Previous ArticleLocation Intelligence Meets Decision Technology: SiteZeus Leads Shift into New Prescriptive-Led Growth EraNext ArticleTapad Brings Global Insights to Arm Treasure Data’s Enterprise CDP Technology
Reviewed by James Ives, M.Psych. (Editor)Jul 11 2019In community health centers in Medicaid expansion states, among established patients who were uninsured prior to the Affordable Care Act, many remained uninsured after implementation of the Obama-era law.Using electronic health record data across 11 Medicaid expansion states, an Oregon Health & Science University study tracking uninsured patients before and after the implementation of the ACA found that 21% of those patients remained continuously uninsured, 15% gained Medicaid, 12% gained other insurance, and 51% did not visit their Community Health Center post ACA implementation. The 21% who remained uninsured were largely Hispanic and spoke Spanish as their primary language, indicating both a language and potential legal barrier to enrollment in the ACA. These uninsured patients continued to have frequent healthcare visits and the majority had at least one health condition that would require continuous care. The results of this study point to a need for additional funding to support the needs of Community Health Centers serving the uninsured. Source:American Academy of Family PhysiciansJournal reference:Huguet, N. et al. (2019) Following Uninsured Patients Through Medicaid Expansion: Ambulatory Care Use and Diagnosed Conditions. Annals of Family Medicine. doi.org/10.1370/afm.2385.
Apple in talks to sell iPhone in Iran: report Explore further © 2018 AFP This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only. GE affiliates based outside the US since 2017 received contracts totaling tens of millions of dollars for equipment for gas production projects and gas and petrochemical plants, according to a May 1 securities filing US President Donald Trump’s decision to withdraw from the Iran nuclear pact threatens new business for several big companies, including Boeing, Airbus and General Electric. The two aerospace giants were among the companies to receive US Treasury licenses to begin conducting business in Iran under strict oversight after sanctions were lifted in the 2015 accord.Even amid this easing, Washington continued to keep in place an embargo on American citizens operating in Iran and barred Iranian entities from using the US financial system.The Trump administration Tuesday gave companies 90 to 180 days to wind down existing contracts. Here is a list of affected companies:Boeing and AirbusAerospace companies had been perhaps the biggest beneficiary of the Iran nuclear accord, which recognized the need for Iran to modernize its airplane fleet.Boeing in December 2016 announced a landmark agreement to sell Iran Air 80 aircraft valued at $16.6 billion. It also announced a contract in April 2017 to sell Iran Aseman Airlines 30 Boeing 737 MAX aircraft for $3 billion, with purchase rights for another 30 aircraft.The aerospace giant had said the Iran contracts would support tens of thousands of jobs.Boeing said Tuesday it would follow US policy on Iran. European giant Airbus also had announced contracts with two other carriers, Iran Air Tour and Zagros Airlines, for 100 planes in all.With industrial capacity in the United States, Airbus is also subject to US sanctions.General Electric, Volkswagen, Total, PSAGE affiliates based outside the US since 2017 received contracts totaling tens of millions of dollars for equipment for gas production projects and gas and petrochemical plants, according to a May 1 securities filing. French oil giant Total is at risk of losing a contract to help develop Iran’s South Pars gas field following the US move. Total has warned that its position in the project depends on the state of the broader nuclear agreement.Volkswagen announced in 2017 that it resumed selling cars in Iran for the first time in 2017. The German company continues to face questions over its “dieselgate” scandal in the US, long a key market.French automaker PSA Peugeot Citroen reached an agreement last year to sell cars in Iran and has reported sales increases in the country since resuming.PSA has indicated interest in returning to the US market, a goal that would force it to rethink its Iran plans.Travel and hospitalityBritish Airways and Lufthansa, which have resumed flights into Tehran, will be faced with a choice of continuing those businesses, or maintaining their international flights to the US.The same problematic faces French hotel chain Accor, which opened a hotel in Iran in 2015, as well as others in hospitality, such as Spain’s Melia Hotels International and Rotana Hotels of the United Arab Emirates. Citation: Boeing, Airbus, GE among biggest losers from US Iran shift (2018, May 9) retrieved 18 July 2019 from https://phys.org/news/2018-05-boeing-airbus-ge-biggest-losers.html