text
stringlengths
10
78.4k
Meaningful bank reform must include deposit insurance. As it stands, federal deposit insurance resembles fire insurance that pays off in cases of arson by the insured. The debacle in the savings and loan industry illustrates what can happen if financial institutions are allowed to lend freely while depositors are fully insured.
Warren Oskey, chairman of the First National Bank of Glenwood City, Wis., is outraged to see banks and thrifts lumped together in the banking crisis. "All along," Mr. Oskey said in a recent letter, "banks have operated under different statutes and have been regulated by different governmental agencies. Our regulators have generally kept in close contact, whereas [thrift] regulators were long absent from examining many of their institutions."
Friendly regulators did indeed play a key role in allowing the savings and loan problem to snowball out of control. Happily, federal authorities have largely avoided repeating this mistake in dealing with commercial banks. Nonetheless, the underlying economic principles are identical.
Despite all kinds of restrictions on loans and securities, the present system of federal deposit insurance encourages bankers not only to lend money to marginal borrowers, but then to charge too little interest on such loans.
Let's hope that members of Congress have the wisdom and the courage to deal with the causes, rather than just the symptoms, of the banking crisis. If Congress does not go to the root of today's bank troubles, these will simply be a prelude to a more damaging future debacle.
In recognition of the blurring of the lines between tablet and laptop computers, chip giant Intel is merging its PC and mobile chip businesses into a new division called the Client Computing Group.
The new division, which launches at the start of next year, will include the teams that develop Core processors for desktops and laptops, including the MacBook Air, and teams that develop Atom chips for smartphone and tablet devices.
It is understood that the new unit will be led by Kirk Skaugen, who currently heads the PC chip group.
In a memo to employees CEO Brian Brian Krzanich told employees that the head of the tablet and phone chip division Hermann Eul will stay on to help the transition and a new role for him will be announced in the new year, according to the Wall Street Journal.
Both the PC and mobile chip businesses in Intel were operating at a loss while groups that make chips for servers and the cloud have been steaming ahead.
Revenue in Intel’s Mobile and Communications group declined to US$1m from US$353m a year ago.
Losses of over US$1bn have been driven by subsidies paid to tablet makers to encourage their uptake.
While Intel’s Core chips in devices like the MacBook Air and the Surface Pro have been popular and pretty much facilitate the blurring of the lines between PCs and tablets, Intel strategically dropped the ball on the smartphone revolution four years ago, ceding vital ground to players like ARM and Qualcomm.
That said, Intel is still a pivotal player in tablet computing and is on track to exceed its target of shipping 40m tablet processors this year, according to Bloomberg.
Teams at the Mobile and Communications Group will be broken up. Teams that develop mobile processors will join the new Client Computing Group while the remainder focused on modems will form part of a new wireless R&D group.
If tomorrow's Israeli elections were a museum, this 3-part podcast would be your free audio-tour. TLV1 Radio presents: a comprehensive walkthrough of what's about to go down.
Seven post-election scenarios: What could happen after Israel votes?
View full sizeJerry Campbell | Special to the Kalamazoo GazetteFrom Wisconsin to Plainwell: Dr. Darcie Sharapova, who won a silver medal as part of a U.S. short-track speedskating team in the 1992 Winter Olympics, talks with Dr. Abdul Shaikh at Borgess Family Medicine in Plainwell, where Sharapova began working in July after moving from Eau Claire, Wis.
Today Darcie Sharapova is a family-practice physician in Plainwell, but 18 years ago her life was on ice.
In 1992, Sharapova — who was then the 19-year-old Darcie Dohnal — was competing for the U.S. short-track speedskating team at the Winter Olympics in Albertville, France.
The team, which also included Cathy Turner, Nikki Ziegelmeyer and Amy Peterson, clocked a time of 4:37.85 in the 3,000-meter relay, earning a silver medal.
Sharapova’s journey to Albertville started when she was 10 years old. Her hometown, of Wauwatosa, Wis., was just up the road from Milwaukee, home to one of two Olympic-sized speedskating rinks in the country. The entire Dohnal family, including Darcie, her sister, three brothers and parents, took up racing.
When Darcie was about to finish high school, one of her coaches sensed Olympic potential in her and recommended her for the U.S. Olympic Education Center at Northern Michigan University, she says. The USOEC provides educational opportunities for athletes while they receive world-class training in their sport.
Sharapova attended the center for one semester, then put her classroom education on hold and moved to Lake Placid, N.Y., to continue her training. She competed in speedskating world-championship competitions in 1991, 1992 and 1993. During each of those years, she was ranked as one of the top four U.S. qualifiers.
Her fourth-place finish in 1992 qualified her to compete for the U.S. in Albertville. That was the first year that short-track speedskating — in which multiple skaters race on an oval track with a circumference of 111.12 meters — was included as a full Olympic sport.
Today stars such as Apolo Anton Ohno have made short-track one of the most visible and popular of the Winter Olympics events.
Winter athletes had the unusual opportunity in 1992 and 1994 of taking part in two Olympic competitions just two years apart because that was when the Summer and Winter Games were split and began alternating in two-year cycles. This meant that for the only time in history the Winter Games came up again in just two years.
But an ankle injury kept Sharapova from going to the 1994 Winter Olympics in Lillehammer, Norway. It also gave her the chance to shift her focus.
Several other experiences also contributed to her decision to become a doctor.
At age 12, she had lost her best friend to cancer. She had spent time at the hospital with her friend, she says, and developed great respect for the people taking care of her.
Her later experiences of traveling around the world to skate and being part of world-class teams also played a role in her decision.
“I realized I wanted to serve other people and that all the members of a team have something to contribute,” she says.
So Sharapova took the drive and hard work she’d brought to the rink and transferred them to the classroom.
Between 1998 and 2003, in addition to attending medical school, she got married and had two children. Her husband is Dr. Anton Sharapov, a Russian-born Canadian citizen with a U.S. green card.
She spent the first two years after finishing her residency working in a family-practice group in Ottawa, Ontario. Then, in 2008, she and her family moved to Eau Claire, Wis., where Sharapova did urgent-care and family-practice medicine until they moved to Michigan in April.
Sharapova joined Borgess Family Medicine in Plainwell in July. Her husband is a vascular surgeon with the Surgical Group of Southwest Michigan, and they now have three children and live in Richland.
Comparing her current life to her days as an Olympic speedskater, Sharapova says that being a physician and a mother is much harder than being an athlete.
At least 50 members of the Afghan security forces have surrendered to the Taliban in a fight for control of Afghanistan's western province of Badghis that has created heavy casualties, officials said.
Fighting in Afghanistan has intensified even as Taliban and US officials finished the latest round of peace talks on Tuesday, with both sides citing progress.
Afghanistan usually sees a marked increase in violence in spring.
Some 100 Afghan personnel who are part of the interior ministry's border police attempted to flee their posts into neighbouring Turkmenistan on Saturday, but they were prevented from entering that country, Badghis provincial council chairman Abdul Aziz Bik said on Sunday.
About 50 Afghan border police surrendered, while the remaining 50 continued fighting in the district of Bala Murghab, he said. Bala Murghab is the province's most populous district.
The district was at risk of falling to the Taliban unless Afghan forces receive air and ground reinforcements, Badghis provincial council member Abdullah Afzali said on Saturday.
Provincial councils are elected bodies that sometimes have closer connections to local residents than government officials have.
The Taliban said 90 border police had surrendered to the militant group. It posted photos on Twitter of a line-up of dozens of men who the Taliban said were captured border police, and it added that it had killed many others.
Jamshid Shahabi, a spokesman for Badghis' governor, said the Taliban had inflated its estimate of captured forces.
It was not clear how many total Afghan and Taliban forces have been killed or wounded in the battle for the district.
But the International Committee of the Red Cross tweeted that attacks in Bala Murghab had generated heavy casualties. The Red Cross said it had facilitated the handover of the bodies of 20 soldiers to the Afghan National Army Corps.
In a tweet, the Afghan ministry of defence said its forces had killed 12 insurgents in Bala Murghab, as part of operations across 10 provinces during the previous 24 hours. A spokesman for the ministry could not be reached for comment.
The Taliban, ousted in 2001, say they are fighting to expel foreign troops, topple the Western-backed Afghan government and restore its version of Islamic law.
Some 17,000 foreign troops are based in Afghanistan as part of a US-led NATO mission to train, assist and advise Afghan forces.
Does Windows Vista seem sluggish to you? The slowdown could be caused by any number of things, but there's an easy way to cross a few off your list: Run the built-in System File Checker, which scans through all the bits and pieces of Windows Vista to make sure they're in the right place.
Does Windows Vista seem sluggish to you? The slowdown could be caused by any number of things, but there's an easy way to cross a few off your list: Run the built-in System File Checker, which scans through all the bits and pieces of Windows Vista to make sure they're in the right place. If it finds a corrupt or missing file, the utility will repair it for you, too. There's no user interface to the tool, however, so to launch it you'll have to resort to the Command Prompt. In the Start menu, type command, then right-click on Command Prompt and choose Run as Administrator. When the command prompt opens up, type SFC /scannow to start the file checker.
The Florida Highway Patrol is urging motorists to prepare for the possibility of adverse driving conditions with a winter storm warning posted for parts of North Florida.
The National Weather Service forecasts a severe cold front moving into Florida Tuesday night, bringing the possibility of freezing rain and snow that would cause hazardous driving conditions. The highest risk of ice in South Georgia and into North Florida would occur between 3 a.m. and 9 a.m. on Wednesday, according to First Coast News meteorologist Steve Smith.
The Highway Patrol has tips for drivers if those weather conditions occur. Avoid driving if at all possible. Slow down since vehicles don't have good traction when roads are icy. When the temperature is near freezing, ice may form on roads that may only look wet, while bridges and overpasses are more prone to freezing in these types of conditions.
The Highway Patrol suggests that drivers don't attempt to pass slower vehicles, and leave plenty of space between your vehicle and the one in front of you. When stopping or going, gently apply brakes and accelerate at a slow speed.
Motorists in trouble can dial *FHP (347) from their cellphone if they need help.
The Indian River County Chamber of Commerce will host the Young Professionals Network luncheon on Sept. 23 at Outback Steakhouse.
The event begins at noon. In conjunction with their luncheon, the group will host a book drive to benefit their speaker’s organization, the Moonshot Moment. Attendees are encouraged to bring children’s books, new or used.
YPN meets the first Wednesday of each month and is targeted for those emerging business leaders ages 21-39. This group is designed to give young leaders the opportunity to exchange ideas, grow professionally, and share common interests.
The Chamber understands the importance of educating young professionals and providing them with opportunities to establish and build relationships with others in their community.
To attend, please RSVP the Monday before by calling 772-567-3491.
For information about joining the Chamber and participating in the Young Professionals Network, contact Toni Abraham at 772-567-3491 or email membership@indianriverchamber.com.
Composer Philip Glass in Florence, 1993. A Creative Commons photograph.
The last time composer Philip Glass played the Chan Centre for Performing Arts at UBC was in 2004. Glass, still composing and performing at age 73, says: "Why stop now?"
Glass began his April 5th, 2010 performance with 'Four Metamorphoses' conjured from both Errol Morris' film 'A Thin Blue Line' and a staging of Franz Kafka's short story 'The Metamorphosis', in which the lead character wakes up one day to find he has evolved into a giant vermin. Glass' ostinatos (repeating melodies or patterned phrases) create the foundation for chilling chord changes. His rapid, articulate arpeggios (flowing broken chords) seem like second nature.
Philip Glass first entered my conscious mind after I discovered he scored the 1982 "documentary without words", 'Koyaanisqatsi'. I had previously seen 'The Truman Show' starring Jim Carrey but did not question the soundtrack as it fit so well with the picture (something every film composer strives to achieve). However, Glass worked on that film too...and 'The Hours'...and 'The Illusionist'. Glass won a Golden Globe for his work on 'The Truman Show' and his score for 'The Hours' was nominated for a Golden Globe, Grammy and an Academy Award, also receiving a British Academy of Film and Television Arts Award.
The first thing I noticed upon taking my seat was how stunningly close many of us were sitting in relation to the Steinway & Sons Concert Grand. The program said the show was to be Philip Glass solo on a piano for 90 minutes with no intermissions. Glass modestly explained the reason behind this was to get the audience home earlier. We laughed, but we would have been happy to stay longer.
During the show I often found myself to be physically frozen for long periods of time (10-15 minutes) due to the hypnotic effect of Glass' composition. Glass has the special ability to compress time into singularities.
Glass continued by playing a selection of seven Etudes from a series of sixteen. These Etudes were apparently written by Glass to avoid practicing other pieces. Hear three of the Etudes on Philip Glass' official website under the listen/watch section.
The concert continued with 'Mad Rush' which was written in modules so as to be of "indefinite length", debuting before the Dalai Lama arrived at an event to speak.
After each piece, Glass was received by roaring applause. For his finale, Glass carefully followed a recording of the late Allen Ginsberg reciting a poem reflective of the anti-war sentiment of the 1960s, entitled 'Wichita Vortex Sutra'. The two used to perform it in person when Ginsberg was still alive.
But the crowd did not get enough Glass-- thankfully, Philip returned to the stage for an encore. This was extremely fortunate considering the piece he played, 'Closing' (streaming below) is his most powerful in my opinion. If this doesn't make you feel deep emotion, I honestly don't know what will.
The night ended in full standing ovation.
If you would like to visit the Chan Centre for Performing Arts, consider attending Wailin' Jennys & Jeremy Fisher on Saturday, May 8th.
The Department of Transportation is setting up a committee to review how the F.A.A. approves new aircraft. This just another part of the fallout following the grounding of Boeing's 737 Max 8 aircraft. Bob Crandall, former American Airlines president, CEO and chairman, join "Squawk Box" by phone to discuss the latest developments in the investigation.
In Captain America: Sam Wilson #10, the character whose death gets Captain Marvel and Iron Man fighting over a philosophical difference gets laid to rest. It’s a pretty emotional service.
The homegoing for James Rhodes is significant because the Marine who flew the black-and-white Stark Industries armor is getting laid to rest like a hero, not an embarrassing casualty. If the death of War Machine was the lemon that Marvel editorial handed to black superhero fans last month, then the soulful portrayal of Sam Wilson’s unease is the lemonade that those fans will have to assuage themselves with.
The last time a black hero died in a Marvel Civil War event, it was all sour and no sweetness. Super-scientist Bill Foster (a.k.a. Black Goliath/Goliath/Giant-Man) was killed by a clone of Thor and his funeral in issue #23 of the 2005 Black Panther series was written as a polemic by Reginald Hudlin. Hudlin’s pointed writing was the proverbial “phone call from a bogeyman coming from inside the house”—he was a black writer commenting on the death of a minor black character to motivate the battles between major white heroes.
The rainy, sparsely populated funeral scenes with Foster’s surviving family were a small reservoir of bitterness that showed the character’s death has more meaning than just being a tired plot device.
Despite the considerations that went into the decision, Rhodey’s death still stinks. It robs fans of the evolving history of that character and the symbolism that comes with him being a seasoned veteran. There might be other brown faces rising through the panels wearing armor that looks like his but they’re getting introduced in a smaller, more charged landscape. They’re not the same as a character who survived the ups and downs of the comics business’ flush and fallow periods.
Nick Spencer’s work in Captain America: Sam Wilson #10 responds to that loss well. The issue reads as if it’s intentionally designed to be the polar opposite of that nine-year-old Black Panther story.
There’s a different, more celebratory kind of grief on display here, one that starts with a gathering of Rhodey’s friends and peers.
Spencer has been using Sam Wilson’s tenure as Captain America to explore the symbolism attached to that particular heroic mantle, as well as working in allusions to the racial and socioeconomic tensions in America right now. But there’s been great character development for the lead character, too. Take the scene where the assembled heroes argue about the issue at the heart of Civil War II, only to silently agree on who should deliver Rhodey’s eulogy.
The speech that Spencer writes for Sam recognizes Rhodey’s loss in a metatextual way—invoking the particular experiences of what it means to be a black person in America—which right now feels the best possible consequence from his death.
It’s all too rare that you get to see a gathering of Marvel’s major black heroes in one place. (The excellent Mighty Avengers series written by Al Ewing often approached a quorum.) Too bad it takes a funeral to get everybody together.
Since LeBron James’ decision to sign with the Los Angeles Lakers, artist have taken the time to paint murals around Southern California that included James.
The mural located on Melrose Avenue and North Ogden Drive in the Fairfax District features James looking up at several Lakers legends along with the Staples Center and the Great Western Forum.
Lakers legends: (Left to Right) broadcaster Chick Hearn, Kobe Bryant, Shaquille O’Neal, Magic Johnson, Kareem Abdul-Jabbar and Wilt Chamberlain.
As seen in the image below, the latest mural featuring James has been vandalized.
A white stripe has been painted over James in an attempt to cross him out.
The first LeBron James mural vandalized was in Venice.
In both instances, the murals were displayed for a full day before they were vandalized.
Today the Pretoria High Court handed down judgment in the prolonged the court application against former South African President Jacob Zuma and his government for their role in the closure of the regional human rights court, the Southern Development African Community's SADC Tribunal in 2012.
The court found that "South Africa remains bound by the [SADC] Treaty and the First Protocol. Amending the Treaty and without terminating the First Protocol, the Executive has no authority to participate in a decision in conflict with South Africa's binding obligations.
The application was launched in April 2015 by The Law Society of South Africa to declare the actions of President Zuma, as well as the Minister of Justice, Michael Masutha, and the Minister of International Relations and Co-operation, Ms Maite Nkoana-Mashabane, unconstitutional in relation to SADC's 2014 Protocol.
South African civil rights group AfriForum successfully assisted four Zimbabwean farmers and two agricultural companies to intervene in the case. The farmers lost their properties as part of Zimbabwe's land reform policies. They successfully approached the SADC Tribunal in 2008 to protect their property rights but the Tribunal was eventually suspended and thereafter left to die a natural death.
"When individual citizens, civil society groups and activists are denied access to justice in their own countries, they must be able to challenge decisions that may have an impact on democracy and their human rights through a higher court of arbitration," he explained.
"Regional courts exist throughout the world, including Europe (The European Court of Justice), the Caribbean (the Caribbean Court of Justice) and South America (The Central American Court of Justice), and they have a vital role in Africa to protect human rights and rule of law," he said.