Sony Pictures Hack May Cost Studio around 100 Million More Data Leaked

first_imgThe massive cyber attack on Sony Pictures could cost the company about $100 million, security experts said.Experts who have studied previous hacks told Reuters that though the cost would be less than the $171 million Sony estimated when its Playsation Network was hacked in 2011; it would still be a huge tab for the company.Sony would have to pay for tighter security, further investigation and protection of employee profiles and company passwords this time. The attack, which has been deemed the most damaging cyber hack in the US, has also hurt Sony’s reputation for its failure to ensure protection of company files.The attack crippled employee activity and production for almost a week, which would also cost the company another million dollars.People familiar with the matter told the agency that Sony has insurance cover for such kind of hacks but the insurance only compensates for a portion of the cost.Sony is still grappling with data breaches. Just after the hacker group that calls itself “Guardians of Peace” released employee passwords, salaries and some unpublished pilot scripts, the group has now released a cache of documents that reveals secret aliases of Hollywood actors who use the alternative identities to check in to hotels and use other services anonymously.According to the latest data reveal, Tom Hanks uses “Harry Lauder” as an alias while Sarah Michelle Gellar goes by “Neely O’ Hara.” Natalie Portman and Toby Maguire use “Laura Brown” and “Neil Deep”, respectively.Sony suspects the hacker group belongs to North Korea, which has vehemently denied any involvement. However, the country has called the group “righteous.”Adding to the suspicion is a recent open letter that the hacker group issued to the studio asking it to stop the release of “The Interview.” The movie stars James Franco and Seth Rogan, portraying two journalists who land a rare interview with North Korean leader Kim Jong-Un.The group anonymously posted the letter on GitHub, a programming tool, and threatened to expose more data if their demands were not met.”We are sending you our warning again. Do carry out our demand if you want to escape us. And, Stop immediately showing the movie of terrorism which can break the regional peace and cause the War! You, SONY & FBI, cannot find us. We are perfect as much. The destiny of SONY is totally up to the wise reaction & measure of SONY,” the group’s message read.The message could not be independently verified, according to The Verge.last_img read more

Siddiqur flies to Chennai for treatment

first_imgSiddiqur Rahman. FIle photoGovernment Titumir College student M Siddiqur Rahman, who suffered serious eye injuries during a police action at Shahbagh, has been flown to Chennai in India on Thursday for better treatment.The health and family affairs ministry is bearing all the expenses of Siddiqur’s treatment at Shankar Netralaya in Chennai.Siddiqur’s classmate Sheikh Farid said they started for the airport from the hospital around 10:00am along with Siddiqur’s elder brother Nayeb Ali and Zahidul Islam, an assistant professor of National Institute of Ophthalmology and Hospital.Titumir College student Siddiqur sustained injuries in his eyes during a demonstration on 20 July when the police charged tear shells on agitating students of seven government colleges, affiliated with the University of Dhaka, at Shahbagh in the city.Siddiqur was undergoing treatment in the capital’s National Institute of Ophthalmology and Hospital where surgeries on both of his eyes were done on last Saturday.last_img read more

Arrest warrant against UZ chairman over walking on humanbridge

first_imgA Chandpur court on Saturday issued a warrant for arresting Haimchar upazila chairman and local Awami League leader Nur Hossain Patowary in a case filed for walking over a ‘human-bridge” made by school children.Chandpur judicial magistrate issued the warrant as Nur Hossain failed to appear before the court in connection with the case.On 30 January, some students of Nilkamal Osmania High School made a symbolic ‘Padma bridge’ joining their hands on the occasion of the annual sports day of the school.Nur Hossain Patwari, also general secretary of upazila unit Awami League, who attended the programme as the chief guest, walked over the students’ bodies.The video footage and image of the incident went viral on Facebook which triggered a huge criticism across the country.Nur Hossain earlier secured bail from the High Court, later the Supreme Court cancelled his bail and ordered him to surrender before the lower court within four weeks.But Nur did not appear before the court, said officer-in-charge of Haimchar police station.last_img read more

40 killed in mosque shootings New Zealand PM

first_imgAn image grab from TV New Zealand taken on 15 March 2019 shows New Zealand Prime Minister Jacinda Ardern addressing the country on television following the mosque shooting in Christchurch. Photo: AFPForty people were killed and 20 more were seriously injured in armed assaults on two Christchurch mosques on Friday, New Zealand prime minister Jacinda Ardern said.”It is clear that this can now only be described as a terrorist attack,” she said. “From what we know, it does appear to have been well planned.””Two explosive devices attached to suspect vehicles have now been found and they have been disarmed,” she added.Read More..*Bangladesh-New Zealand Test cancelled after mosque shooting*Bangladesh cricketers ‘narrowly escape New Zealand mosque shooting’*New Zealand cops detain 4 over mosque shooting*New Zealand enduring one of its darkest days: PM*‘Many dead’ in New Zealand mosque shooting*2 Bangladeshis among 27 killed in New Zealand mosque shooting*‘At least 27 killed’ in New Zealand mosque shootingslast_img read more

Party Politics Texas Edition Ep 30 Speaker Straus Is Done

first_imgTexas Agricultural Commissioner Sid Miller wades into last week’s fight between President Trump and Gold Star family  Listen 00:00 /18:38 Bob Daemmrich for The Texas TribuneTexas House Speaker Joe Straus, a San Antonio Republican, announced Wednesday he will not run for re-election. On this episode of Party Politics: Texas Edition, co-hosts Jay Aiyer and Brandon Rottinghaus get into the politics of: X Interim charges released by the Texas Legislature before they meet in 2019L.A. versus TX in baseball and a governors’ bet as the Dodgers take on the AstrosThen, the guys unpack the political bombshell of the week if not the century, Texas House Speaker Joe Straus decides not to run for re-election. By the way, don’t forget to check out our national episodes of Party Politics, too.Party Politics is produced by Edel Howlin and our audio engineer is Todd Hulslander. To embed this piece of audio in your site, please use this code: Rep. Dawnna Dukes has criminal charges dropped  This article is part of the Party Politics podcast Sharelast_img read more

Howard and Harvard Grad Comes Home to Baltimore

first_imgBy J. K. Schmid, Special to the AFROA Baltimore native has returned home from Harvard Law School.D’Sean Williams-Brown, 25, is now studying for his bar exam after graduating in Harvard’s 2018 class.After studying at Howard University and Harvard Law School, D’Sean Williams-Brown is back in his hometown. (Courtesy photo)Born in 1993, Williams-Brown grew up on the 2600 block of Kirk Avenue before moving north in 1998 to Winston Avenue.It was in these Black communities that Williams-Brown’s interests in politics and law grew.“The neighborhood I lived in, what it looked like, the challenges that both my family faced and everyone in the neighborhood faced; the folks that were facing these challenges, all of them looked like me,” Williams-Brown told the AFRO. “The politics of the Black community, the issues were so common, but it is the truth, I couldn’t put two and two together, I just knew that something else was involved, and it led me to examine how did this happen?”He had more questions as he took more of Baltimore in.“How do I live in a block with all Black families and then when I go across to the other side of town, it looks different,” Williams-Brown said. “Why is my school set up in a certain way? We have one Black teacher in school, how do these things come into play?”While working on these questions, Williams-Brown somewhat struggled in middle school as a B-C student.“I got into mischievous stuff, joking, teasing, not listening to teachers, not really paying attention, my grades suffered with a few detentions here and there,” Williams-Brown said.He was denied admission to Baltimore Polytechnic Institute, due to his subpar grades, leaving his parents with a tough choice.“My parents were left either to send me to a school in the area that was struggling, and eventually closed, or send me to private school,” Williams-Brown said. “My dad had found me a private school, he talked to my mom, he said ‘you know what, let’s give this a shot.’”With help from his three aunts and his grandparents, Williams-Brown’s family was able to raise the tuition for him to attend Calvert Hall Catholic High School.“I think that sort of sparked within me, that I need to take it serious,” Williams-Brown said. “This is not cheap, this is not easy, they really are pushing for me to accomplish, so let me go and do well. It was a different experience, coming from a city school to a private school, my only focus was to go in, put my head down and do the work and make sure that investment paid off.”It did pay off. Upon graduation, Williams-Brown was awarded a full academic scholarship to Howard University.“People call it the Mecca, it’s this center of Black culture and Black history and education for so many brilliant people and experiences,” Williams-Brown said.While studying alongside the Black elite, both peers and professors, some of the experience was taken for granted until graduation.“You go back and look at folks who graduated from Howard and contributed to society and how great and successful and prominent these folks have become and how important their work has been to the movements,” Williams-Brown said. “By the time my senior year came, I really started to appreciate what I had been a part of and being able to graduate and say that I went to an institution that was a part of that.”While there were too many Howard professors and mentors to recognize, Williams-Brown did go on at length about his Mock Trial coach, attorney Angela D. Minor, Esq. William’s-Brown was himself a mock trial attorney, his team went to nationals.“Watching her commitment, learning from her, and getting the opportunity to be able to go out and explore what my interests were, and explore my talents and get better at the trade was something that was very important to me,” Williams-Brown said. “It’s one of those things that will follow through the rest of my career.”Williams-Brown’s academic career next took him to Harvard Law School. He interned for the ACLU and was a member of the Harvard Legal Aid Bureau. In Boston, Williams-Brown fought evictions and foreclosures, serving as a community lawyer for the disadvantaged and vulnerable.He’s returned to and taken up residence in Baltimore, a city with an alarming and nation-leading rate of eviction.As Williams-Brown’s wrote on his Harvard application:“Knowledge of the law is empowering,” he wrote. “I witnessed this firsthand when I saw the weight lifted off my mother’s shoulders as an attorney explained the legal procedures and her potential options during the foreclosure process. Although at times limited, the law also has the ability to promote the ideals of self-determination, equality, and social justice. During my legal education, I know that I will gain the skills necessary to continue to advocate for the underprivileged in society. Motivated by my own humble upbringing, I hope to collaborate with a variety of bright legal minds and utilize legal scholarship to imagine innovative solutions and create the change that I want to see in the national community.”last_img read more

Four Louisville StudentAthletes Honored as WeaverJamesCorrigan Award Recipients

first_imgStory Links Erika Osherow Virginia Softball Jeanine Williams Georgia Tech Women’s Track & Field Honorary Postgraduate Scholarship Nominees Jaquan Johnson Miami Football Anton Ipsen NC State Men’s Swimming and Diving SIDNEY MELTONA three-year starter, Melton was a 2018 All-ACC first team honoree after leading the Cardinals with a career-best 45 runs and finishing second on the team with 15 stolen bases. She was also a 2016 all-ACC tournament selection. The redshirt-senior infielder currently leads the team with 10 runs and stands ninth on Louisville’s career list for runs (120) and stolen bases (36). Her success extends to the classroom as a three-time National Fastpitch Coaches Association (NFCA) Scholar Athlete and All-ACC Academic Team member while majoring in health and human performance and exercise science with minors in sport administration and psychology. This year’s list includes three student-athletes who will also receive the Thacker Award and nine student-athletes who plan to pursue professional careers in their chosen sports and were named honorary recipients, which includes Louisville’s Cason. The student-athletes will be honored at the annual Cone Health ACC Postgraduate Scholarship Luncheon presented by ESPN on April 10. The luncheon will be hosted by the Nat Greene Kiwanis Club at the Sheraton Four Seasons Hotel Imperial Ballroom in Greensboro, N.C. Christian Wilkins Clemson Football Santita Ebangwese Syracuse Women’s Volleyball Holly Hankenson Louisville Women’s Track & Field Rachel Politi Virginia Women’s Swimming and Diving Juliane Grashoff Wake Forest Field Hockey Olivia Cason Louisville Women’s Golf Luke Maye North Carolina Men’s Basketball Arianna Lee Syracuse Rowing Asiya Dair Boston College Women’s Tennis Petros Chrysochos Wake Forest Men’s Tennis Miranda Weslake Clemson Women’s Soccer Dallas Dorosy Florida State Women’s Soccer Blaine Boyden North Carolina Men’s Tennis Mimi Smith* Wake Forest Women’s Cross County / Track & Field Thomas Ueland Notre Dame Men’s Soccer Amy Ruiz Georgia Tech Women’s Track & Field Alice Hewson* Clemson Women’s Golf Brianne Burkert Florida State Women’s Volleyball Mitchell Finesilver Duke Wrestling Ian Ho Virginia Tech Men’s Swimming and Diving Jamie Brunworth Miami Women’s Soccer Virginia Elena Carta Duke Women’s Golf Jaila Tolbert Virginia Tech Women’s Volleyball Lindsay Morrow NC State Women’s Swimming and Diving LOUISVILLE, Ky. – University of Louisville student-athletes Olivia Cason (women’s golf), Holly Hankenson (women’s track and field), Sidney Melton (softball) and Molly Sauer (volleyball) were among 52 recipients of the 2019 Weaver-James-Corrigan Postgraduate Scholarship Award announced on Thursday by the Atlantic Coast Conference. Hannah Moore NC State Women’s Swimming and Diving The Weaver-James-Corrigan and Jim and Pat Thacker postgraduate scholarships are awarded to selected student-athletes who intend to pursue a graduate degree following completion of their undergraduate requirements. Each recipient will receive $6,000 toward his or her graduate education. Those honored have performed with distinction in both the classroom and their respective sport, while demonstrating exemplary conduct in the community. Allison Miller Notre Dame Women’s Tennis The following student-athletes will be honored as 2019 ACC Postgraduate Scholars: Sabrina Flores Notre Dame Women’s Soccer Alex Comsia North Carolina Men’s Soccer HOLLY HANKENSONHankenson earned second team All-American honors in the pentathlon at the 2018 NCAA Indoor Championships. She was the 2018 ACC Indoor pentathlon champion and set a new school record with 4,175 points. She was also the ACC runner-up at the ACC Outdoor Championships in the heptathlon. The marketing major has been named to the All-ACC Academic Team for three straight years. She was also named to the College of Business Dean’s List for the last three seasons.  Kamalani Akeo Pitt Women’s Volleyball * Thacker Award recipient Ann Isabelle Kennedy Boston College Women’s Track & Field Marcus Cunningham Syracuse Men’s Lacrosse Morgan Goetz North Carolina Field Hockey Taylor Emery* Virginia Tech Women’s Basketball Kayla McCoy Duke Women’s Soccer Sydney Wootten NC State Women’s Soccer ABOUT THE WEAVER-JAMES-CORRIGAN AWARDThe Weaver-James-Corrigan Award is named in honor of the late Jim Weaver and Bob James, as well as Gene Corrigan, the first three ACC commissioners. The league’s first commissioner, James H. Weaver, served the conference from 1954-70 after a stint as the Director of Athletics at Wake Forest University. His early leadership and uncompromising integrity are largely responsible for the excellent reputation enjoyed by the ACC today.Robert C. James, a former University of Maryland football player, was named commissioner in 1971 and served in that capacity for 16 years. During his tenure, the league continued to grow in stature and became recognized as a national leader in athletics and academics, winning 23 national championships and maintaining standards of excellence in the classroom.Eugene F. Corrigan assumed his role as the third full-time commissioner on September 1, 1987 and served until August of 1997. During Corrigan’s tenure, ACC schools captured 30 NCAA championships and two national football titles.Prior to 1994, the Weaver-James postgraduate scholarships were awarded as separate honors, including the Jim Weaver Award, the Marie James Award and the Bob James Award. Zach Allen Boston College Football Chesdin Harrington Virginia Baseball Megan Anderson Wake Forest Field Hockey OLIVIA CASONCason is in the final season of her four-year career with the Cardinals. The finance major is a three-time All-ACC Academic team selection and earned WGCA All-American Scholar honors in 2018. Cason has played in 40 events for Louisville, tallying 10 top-10 finishes including a sixth-place showing at the NCAA Bryan Regional as a freshman that qualified her for the NCAA Championship. The senior currently ranks eighth in Louisville history with a 74.88 career stroke average. Olivia Gray Pitt Softball ABOUT THE THACKER AWARDThe Thacker Award, which originated in 2005, is awarded in honor of the late Jim and Pat Thacker of Charlotte, North Carolina. Jim Thacker was the primary play-by-play announcer for the ACC’s first television network. Recipients of the award must demonstrate outstanding performance both in athletic competition and in the classroom and intend to further their education through postgraduate studies at an ACC institution. Clemson’s Alice Hewson, Virginia Tech’s Taylor Emery, and Wake Forest’s Mimi Smith are this year’s Thacker Award winners. Roxanne Yu Miami Women’s Swimming and Diving Molly Sauer Louisville Women’s Volleyball Meghan King Florida State Softball Brian Lovasik Pitt Men’s Swimming and Diving Print Friendly Version Demetrius Jackson Miami Football Brad Stewart Georgia Tech Football Drue Tranquill Notre Dame Football MOLLY SAUERA four-year starter, Sauer was named AVCA Honorable Mention All-American after earning First Team All-East Region and All-ACC, the only four-time member on the list. She was the 2015 Defensive Player of the Year and the Freshman of the Year (the only player to ever double up on those two awards) and the 2017 Defensive Player of the Year. She was a three-time member of the All-ACC Academic Team, one of only four players in the conference to earn the honor three straight years. Sidney Melton Louisville Softball James Clark Georgia Tech Men’s Golflast_img read more

Statue of test tube baby pioneer to be unveiled at his birthplace

first_imgKolkata: After Bengal, it is now time for Jharkhand to pay tribute to Dr Subhash Mukherjee, the creator of India’s first test tube baby, who had almost gone into oblivion.Though Dr Mukherjee was born in Jharkhand’s Hazaribagh district, Bengal had been his workplace for a very long time. After coming to power, the Mamata Banerjee government has paid due respect posthumously to Dr Mukherjee by naming prestigious chairs after him at the two state-run medical colleges in Kolkata. Also Read – Rain batters Kolkata, cripples normal lifeFollowing Bengal’s footsteps, the Jharkhand government has now set up a statue of Dr Mukherjee outside the Sadar Hospital in Hazaribagh which will be unveiled by the district administrative officials on Sunday in presence of Prabhat Agarwal, the father of Kanupriya, India’s first test tube baby, along with Sunit Mukherjee, one of Dr Mukherjee’s colleagues. He created the country’s first test tube baby — Kanupriya Agarwal, alias Durga, in October 1978 inside his house in Kolkata with the help of some general apparatus and a refrigerator. He committed suicide in 1981 after the Left Front government had allegedly neglected his research and was harassed by the then strong gynaecologists’ lobby. He could not handle constant criticism and the outright harassment he was subjected to. The Left Front government had argued that Dr Mukherjee lacked sufficient documentation. In 2002, the Indian Council of Medical Research (ICMR) recognised his work for the first time. Also Read – Speeding Jaguar crashes into Mercedes car in Kolkata, 2 pedestrians killedProf Sajal Mukherjee, a teacher of Economics at Vinoba Bhave University in Hazaribagh and the president of Hazaribagh Bengali Association had been instrumental and he constantly lobbied various government departments so that some respect can be shown to the great man who pioneered In-Vitro Fertilization (IVF) in India. After chipping in for nearly a decade, Prof Mukherjee finally succeeded in convincing the district administration about the contribution of Dr Mukherjee in the field of medical science. Ravi Sankar Shukla who is the current DC of the district readily accepted the proposal and took necessary steps to erect the statue outside the Sadar Hospital as a mark of respect. “We are extremely happy to see that our efforts have been translated into action. The district administration has finally given its consent to set up his statue in an area which is close to the place where he was born. A book has also been published containing articles on Dr Mukherjee. We are also thankful to Partha Mazumdar, NTPC chief general manager in Hazaribagh,” Prof Mukherjee maintained. Ravi Sankar Shukla said: “After being posted here, I felt the responsibility and got in touch with the Bengali Association. The statue that has been erected here could be a befitting tribute to Dr Mukherjee. We supervised the project which was assisted by the NTPC.”last_img read more

UPC Slovakia has added six channels including ESPN

first_imgUPC Slovakia has added six channels including ESPN America to its line-up.The US sports channel airs coverage of NHL hockey and NBA basketball matches as well as NASCAR racing events. The cable operator is also adding HD public service channels Jednotku HD and JOJ Plus HD, along with movie channel Filmbox Extra 1 and local channels TV Bratislava and TV Ružinov.UPC Slovakia offers 130 channels, including 13 in high-definition.last_img

Amazonas 5 Hispasats Amazonas 5 satellite has arr

first_imgAmazonas 5Hispasat’s Amazonas 5 satellite has arrived at the Baikonur Cosmodrome in Kazakhstan ahead of it’s planned launch next month.The satellite arrived aboard an Antonov cargo jet and is due to launch on an ILS Proton Breeze M launch vehicle in September.Amazonas 5 will be located at 61°West and will provide video, internet and other services to Latin America. The satellite is designed to be in service for 15 years or more.Hispasat claims to be the leading distributor and broadcaster of Spanish and Portuguese content, with its satellite fleet is used by important direct-to-home television and HDTV digital platforms.Hispasat also provides satellite broadband services and other added value solutions to governments, corporations and telecommunication operators in America, Europe and North Africa.last_img read more

The Impact of High and Growing Government Debt on

first_img“The Impact of High and Growing Government Debt on Economic Growth – An Empirical Investigation for the Euro Area,” by Cristina Checherita and Philipp Rother, European Central Bank, Working Paper Series 1237, August 2010.These papers reflect serious research by world-class economists from the US, Europe and Sweden – and they all confirm the detrimental consequences of extreme governmental indebtedness.Misery on the Rise AgainIn the past year, Okun’s impartial arbiter averaged 10.5%, the highest on record for the third year of an officially recognized economic recovery and almost double the average of the 1950s. The latest readings have occurred despite US gross public debt in excess of 103% of GDP and with the Federal Reserve’s unprecedentedly large balance sheet that approaches nearly $3 trillion.Other measures of well-being confirm the Misery Index. The Poverty Index in 2011 appears to have reached 15.7%, the highest reading in five decades. Not surprisingly, two unenviable records have been set: 46 million, or 14.6% of the population, are now in the food stamp program, up from 7.9% in 1970 and a record-high 41% pay zero national income tax.In the eleven quarters of this expansion, the growth of real per-capita GDP was the lowest for all of the comparable post-WWII business cycle expansions. Real per-capita disposable personal income has risen by a scant 0.1% annual rate, remarkably weak when compared with the 2.9% post-war average. It is often said that economic conditions would have been much worse if the government had not run massive budget deficits and the Fed had not implemented extraordinary policies. This whole premise is wrong.In all likelihood the governmental measures made conditions worse, and the poor results reflect the counterproductive nature of fiscal and monetary policies. None of these numerous actions produced anything more than transitory improvement in economic conditions, followed by a quick retreat to a faltering pattern while leaving the economy saddled with even greater indebtedness. The diminutive gain in this expansion is clearly consistent with the view that government actions have hurt, rather than helped, economic performance. Sadly, many of those who the government programs were supposedly designed to help the most have suffered the worst.The Way OutThe original theoretical argument in favor of deficit spending originated in J.M. Keynes’ The General Theory of Employment, Interest and Money (1936). A search of Keynes’ work reveals no recognition of the “bang point,” or the condition where a government engages in deficit spending for such a prolonged period of time that a massive buildup of debt leads to denial of additional credit to the government because of fear that the existing debt will not be repaid. Nor did Keynes address the situation where a large number of countries are all simultaneously getting deeper and deeper in debt and there are gradations of debt among these countries – serious shortfalls in the basic Keynesian theory.Keynes, as opposed to some of his interpreters and predecessors, may have implicitly recognized that a bang point could occur, because he did not recommend constant budget deficits. Instead, he advocated cyclical deficits, counterbalanced by cyclical budget surpluses. Under such a system, government debt in bad times would be retired in good times. However, Keynes’ original proposition was bastardized in support of perpetual deficits, something Keynes himself never advocated.Milton Friedman, whom many consider to have been the polar opposite of Keynes, also never addressed the concept of a bang point, but he may also have understood implicitly that such a situation could occur. The reason is that Friedman advocated balanced budgets, which if followed or required constitutionally as Friedman argued, would prevent a buildup of debt. This view was largely rejected as being inhumane since in a recession, government policy would not be responsive to unemployment and other miseries of such a condition. What should have been discussed is whether some short-term misery is a better option than putting the entire country and economic system in jeopardy, as numerous examples in Europe currently illustrate.The most sensible recognition of budget policy came not from Keynes nor Friedman, but from David Hume, one of the greatest minds of mankind, whom Adam Smith called the greatest intellect that he ever met. In his 1752 paper “Of Public Finance,” Hume advocated running budget surpluses in good times so that they could be used in time of war or other emergencies. Such a recommendation would, of course, prevent policies that would send countries barreling toward the bang point. Countries would have to live inside their means most of the time, but in emergency situations would have the resources to respond.In the context of today’s world, this approach would be viewed as unacceptable because it would limit the ability of politicians to continue their excessive spending, thereby saddling future generations with obligations and promises that cannot be honored. But isn’t Hume’s recommendation exactly what we taught our children in preparing them to manage their own personal finances?Lacy Hunt is the executive vice-president of Hoisington Investment Management, a firm with over $5.8 billion under management, and one of the nation’s top-performing bond managers. Lacy’s work has been published in Barron’s, The Wall Street Journal, The New York Times, the Journal of Finance, the Financial Analysts Journal and the Journal of Portfolio Management. Previously he was the chief economist for the HSBC Group, one of the world’s largest banks, and the senior economist for the Dallas Fed.At the Casey Research/Sprott Summit, he will be making a comprehensive presentation on the policy options the government has left to it, the consequences of those options, and how investors can position themselves. He will also be participating in an on-stage exchange of views on the Fed with G. Edward Griffin, the author of the best-selling Creature from Jekyll Island and long-term Fed critic.One of the really great things about these Summits is that most of the faculty, including Lacy, attend the entire event, giving you a rare opportunity to meet them in person and get your specific questions answered.Friday FunnyI have seen a number of iterations of this particular “funny,” but this one goes a couple of steps further in explaining the dynamics, so I wanted to include it here.Suppose that every day, ten men go out for a beer and the bill for all ten comes to $100.If they paid their bill the way we pay our taxes, it would go something like this:The first four men (the poorest) would pay nothing.The fifth would pay $1.00The sixth would pay $3.00The seventh would pay $7.00The eighth would pay $12.00The ninth would pay $18.00The tenth man (the richest) would pay $59.00So that’s what they decided to do. The men drank in the bar every day and seemed quite happy with the arrangement, until one day the owner threw them a curve.“Since you are all such good customers,” he said, “I’m going to reduce the cost of your daily beer by $20.00.”Drinks for the ten men now cost just $80.00.The group still wanted to pay their bill the way we pay our taxes, so the first four men were unaffected. They would still drink for free. But what about the other six men – the paying customers? How could they divide the $20 windfall so that everyone would get their “fair share?”They realized that $20.00 divided by six is $3.33. But if they subtracted that from everybody’s share, then the fifth man and the sixth man would each end up being paid to drink his beer. So, the bar owner suggested that it would be fair to reduce each man’s bill by roughly the same amount, and he proceeded to work out the amounts each should pay.And so:The fifth man, like the first four, now paid nothing (100% savings).The sixth now paid $2 instead of $3 (33% savings).The seventh now paid $5 instead of $7 (28% savings).The eighth now paid $9 instead of 12 (25% savings).The ninth now paid $14 instead of $18 (22% savings).The tenth now paid $49 instead of $59 (16% savings).Each of the six was better off than before! And the first four continued to drink for free. But once outside the restaurant, the men began to compare their savings.“I only got a dollar out of the $20” declared the sixth man. He pointed to the tenth man, “But he got $10!”“Yeah, that’s right,” shouted the seventh man. “Why should he get $10 back when I got only two? The wealthy get all the breaks!”“Wait a minute,” yelled the first four men in unison. “We didn’t I get anything at all. The system exploits the poor!”The nine men surrounded the tenth and beat him up.The next night the tenth man didn’t show up for drinks, so the nine sat down and had beers without him. But when it came time to pay the bill, they discovered something important. They didn’t have enough money between all of them for even half of the bill!And that, boys and girls, journalists and college professors, is how our tax system works. The people who pay the highest taxes get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking overseas where the atmosphere is somewhat friendlier.For those who understand, no explanation is needed.For those who do not understand, no explanation is possible.Casey Report Editors in the NewsIn the way of weekend reading/watching, following are links to some media coverage senior Casey Report editors Bud Conrad  and Doug Casey received this week.The first is an interview with Bud Conrad by the always competent Jim Puplava of the Financial Sense Newshour. In it, Bud discusses his analysis of how the new abundance of natural gas is a game changer for the US. He lays out how the new technology has provided the US with a huge new source of energy that is growing in production and use. Here’s a link to the interview.Better still, you can get the whole story with the details in charts and graphs showing a new method for predicting the price of natural gas, and Bud’s investment prediction, by signing up for a no-risk trial to The Casey Report.Doug Casey ripping things up at the Agora Financial Conference. My dear business partner of some years is many things, but a shrinking violet is not one of them. Regular correspondent Brett of the Contrary Investing Report is in the audience at the Agora Financial Conference now going on in Vancouver, and filed the following recap of Doug’s remarks. Here’s the link.Weekend ReadsMuch of these fall into the category of yet more examples of central planning and the consequences that inevitably follow. Some are quite eye-opening, starting with…Fire Ice – We have all seen the news about the deadly wildfires now sweeping the western United States. Would you believe that there is a proven technology that could have snuffed those fires out long ago? That could snuff them out right away? Yet the company that possesses the technology – which other states have used very successfully – remains sidelined. Perhaps, as one observer put it, by whichever politically well-connected company now has the contract to fight the fires. Here’s the link to the eye-opening story of Fire Ice.Bloomberg on Cops Going on Strike – You probably heard that Mayor Bloomberg of NYC proposed that the nation’s police go on strike until gun control laws are enacted. If not, here’s the story – and a fact-based response to his contention that police are increasingly at risk from being shot by members of the public. The truth, however, is just the opposite – with police shootings, such as set off the Anaheim riot, on the increase. Here’s the story from the always excellent Reason.com.Also from Reason, a Mind-Numbing Story About the IRS – Imagine a family being asked to pay millions in taxes for a piece of worthless art. Worthless not because it’s not fine art (though not to my taste), but because the government’s own rules make it illegal to sell. Here’s the story.Airports and Border Crossings in Canada Wired with Listening Equipment – from Our Friends at the  International Man. One of the participants in the forum at InternationalMan.com tipped us off to this story, that the Canadians are wiring their airports and border crossings so that they can listen in and record your conversations as you wait to go through. What has happened to the world? Oh, that’s right, I remember – the central planners, in this case those charged with protecting our “security,” have been at it again. Next time you are in a Canadian airport, any airport, remember, mum’s the word.And Finally…Ending on a positive note, the following just came across the wires. Though the story comes from Cuba, it points to a better, freer future for us all.That’s because while a centrally planned, command economy can last a long time, it can’t last forever. And when the house of (poorly arranged) cards comes crashing down, the free market will reemerge.Here’s the headline of the story, and a link to read it.Cuba to end Soviet-style economy and will implement market-friendly policiesHere’s the linkAnd with that, I will sign off for the week by thanking you for reading and for being a Casey Research subscriber.Remember, the early-bird pricing for our upcoming Summit ends July 31 – don’t miss it.See you there!David GallandManaging DirectorCasey Research “Government Size and Growth:  A Survey and Interpretation of the Evidence,” by Andreas Bergh and Magnus Henrekson, IFN Working Paper No. 858, April 2011; Dear Reader,Before I begin today’s musings, I would like to give a musical nod to Bush, a band that seems to me to be largely overlooked. If you are unfamiliar with them (and don’t mind some fairly hard rock), here are a few selections to keep you company this fine day… Glycerin… Everything’s Zen (live)… Comedown.And so, with feet and fingers tapping madly, we move on…What (Almost) Everyone Fails to Understand About Our EconomyI want to start today’s missive with a couple of unusual charts. Unusual because they contain no reference points. Here’s the first.And here’s the second.We’ll return to those charts momentarily. First, however, a confession.As much as I read, and despite interacting with very smart people on a daily basis, until just recently I have missed something about our economy that, on reflection, should have been as obvious as the computer screen I spend far too many hours staring at.Allow me to emphasize the point in somewhat stronger terms.That I could have overlooked this particular aspect of the US economy and the overarching consequences that follow from it for all these years should, if I were a lawyer, cause me to be disbarred. If I were a doctor, the medical practice board would be entirely within their rights to revoke my license. If I were a politician, my benefactors would be entirely justified in cutting off my bribes donations. If I were a… well, you get the idea.Interestingly, as smack-up-the-side-of-the-head obvious as this feature of the economy is, and has been for years, virtually everyone else has failed to spot it as well.So, what is this mystery?Succinctly, it is that, like Europe (where, during my recent trip there, the spark of awareness was lit), the economy of the United States is, and has been for decades, increasingly under the control of central planners at the expense of the free market.As proof of that contention, we return to the two charts above. Here, again, is the first, but with the contextual reference points in place.(Click on image to enlarge)As you can see, the chart tracks the purchasing power of the US dollar since 1914, the year that the government, through its stooges at the Fed, took command of monetary policy. Laughably, the stated mission of these central planners was to preserve the value of the dollar. Predictably, exactly the opposite resulted.And here’s the second chart, also with the reference points in place.(Click on image to enlarge)As you can so clearly see, after severing the last connection with the gold standard in 1971, after which point the central planners took command of fiscal policy, we have seen an exponential growth in government debt.(Of course, the numbers on the national debt are grossly understated as it doesn’t account for the tens of trillions of dollars of unfunded and unpayable obligations tied to Social Security, Medicare and so forth.)Now, I could go on and on, finding dozens of examples of the shift from a free market to a command economy, but in the interest of time will stop there.The point, which I hope is now clear to all, is that the economic model that allowed the United States to rise out of abject poverty at its inception to become the most powerful economy the world has ever seen has been tossed aside in favor of a model that has proven time and again to be fundamentally flawed and always doomed to fail.That the central-planning model, here and around the world, has been advanced by a fiat global reserve currency is undeniable. However, as the two charts clearly show, the consequences of having central planners controlling monetary and fiscal policy have created a ticking time bomb set to explode.A few additional comments are warranted.The first has to do with who the central planners actually are. And the best way to understand that is by considering who they are not.Who they are not is successful entrepreneurs. Stating what should also be obvious, were they successful entrepreneurs, they would be otherwise engaged in creating jobs and building wealth for themselves and their co-workers.Instead, the central planners almost always hail from the halls of academia, their stock and trade consisting entirely of a college degree and a façade of really knowing what they talk about. As a friend likes to say, “The biggest problems in this world are not caused by a lack of knowledge, but by people who pretend to know when they don’t.”Over the years I have met and even gotten to know people who have gravitated toward jobs involved with setting government policies. And to a person, they have never held a real job outside of academia, or if they did, they failed at it. Yet they are unhesitant in telling everyone who will listen in tones most professorial how the world should work, and why enlightened government policies – not the free market – are the only answer.These people have taken over our country, and in fact, the world. The current mess we are in should not be a surprise to anyone. All anyone has to do is look at the history of the Soviet Union, or communist China, pre-economic liberalization, to see how the story of command economies ends. How it always ends.So, where do things go from here?Earlier today I dropped an email to our editors, which I will quote from here as it deals with what I see as the fate of the global economy over the next six months or so.“It’s all about the debt.“The sovereigns owe a lot of money that they can’t repay. As they try to roll over their existing debts and have to borrow more, the lenders – if any can be found – will want higher and eventually unaffordable interest rates. When the lenders dry up, the only solution will be for the central bankers to monetize, but the world will be watching closely, so this will likely trigger a death spiral in the fiat currencies.“There are intractable problems on a fundamental, systemic basis that cannot be resolved in an orderly fashion. The day is coming when the lending locks up again, after which point everything starts to fall apart.“So, no, I don’t think it’s a muddle by outcome, but a systemic crash… hopefully big enough to cause a rethink about the entire current setup with funny money and central economic planning.“But that would take a very big crash.”Now, I know that a lot of dear subscribers, having accepted our arguments for including tangible assets as a core portfolio holding for many years now, have struggled during the latest retracement and consolidation period in the precious metals and associated stocks.But if you step back and look at the big picture as it is constantly revealed in the headlines and regular releases of poor economic data, I think the conclusions we came to back before the crisis hit, that the Fed (and all the central bankers) are stuck between a rock and a hard place, remain the correct conclusions.There is no simple or easy way out of this situation as the central planners are forced into a haphazard and highly destructive retreat. And the consequences won’t just be economic or political… the mini-riots in Anaheim this past week are just a straw in the wind.So, how does one cope in a command economy headed, like all its predecessors, into the trash bin of history – in this case, on a global scale?First and foremost, diversify. Everything contains risk, so spreading it around to mitigate the chances of getting hit especially hard from any one investment sector makes a lot of sense.Personally, I use a spread sheet program to analyze my holdings from a number of different angles, including percentage dedicated to natural resources; percentage in non-US-dollar-denominated assets; percentage outside of the United States; percentage with any one financial institution; percentage in dividend earning stocks; percentage liquid vs. illiquid; percentage in common equities; percentage in cash and so forth.The idea is that if any one area becomes overweight or underweight, I look to make adjustments. In addition, I set certain goals – for example, the percentage of our net worth we want outside of the United States – and manage to that number.In short, pay close attention to where your assets are allocated and don’t go overboard in any one sector.Secondly, skew toward things tangible. Over the next few years, we are going to see massive dislocations as the fiat currency system cracks apart, starting with the euro and then, after a final rush into the “safe harbor” of the US dollar, spreading to the dollar itself.As much as possible, own things with a tangible value. Precious metals are fine, but don’t go overboard as that makes you susceptible to a change in government regulations that could literally be invoked overnight. Consider property, and even income-producing property (in low-tax jurisdictions). But, again, don’t go overboard because real estate is always a fixed target, which means the government can tax it or even confiscate it, and you won’t be able to do much about it. Owning currencies of countries with large resources is a proxy for owning something tangible, though an imperfect proxy.Be careful. It will only get more challenging to build net worth going forward. Whether it be higher taxes on capital gains (a certainty at some point) or the cancellation of tax breaks, or more demands on business owners from legislation such as Obamacare, generating – and more to the point, keeping – net worth will not be easy. Therefore, rule number one has to be to avoid risking big chunks of money.Sit tight, and be right. Per my comments above, I remain convinced that our Casey Research base case – of a global economic crisis that will get much worse before it gets better, and that the central planners have few options left to them other than monetary debasement – is correct.For those of you who already have allocations to the tangibles, and to the gold stocks (which are massively undervalued at this point), sit tight and you will come out right. If you are just now rethinking how to reposition your portfolio to get through what’s next, then do yourself a favor and take a low-cost, money-back-guaranteed subscription to our BIG GOLD service and start adding positions on the inevitable pullbacks.These are, of course, only some of the strategies you can use. The most comprehensive analysis of the situation, and how to prepare for what’s next, will be at the upcoming three-day intensive Summit we are co-hosting with Sprott, Inc., Navigating the Politicized Economy, in beautiful Carlsbad, California, September 7 – 9.Speaking of the Summit, one of the smartest people you’ll rub elbows with at the event will again be Dr. Lacy Hunt, the former economist to the Dallas Fed (but a Fed fan no longer) and the nation’s top-performing bond fund manager. Earlier this week, Lacy shot me over the following article that is well worth your attention.Unintended Consequences of Well-Motivated PoliciesBy Dr. Lacy HuntIn the early 1960s, when JFK was in the White House and William McChesney Martin was Fed chairman, Keynesian economics was in full bloom. One of its major tenets was the Phillips Curve, which posits a stable inverse relationship between the rate of inflation and the unemployment rate. Yale professor James Tobin (1918-2002) and others argued that the social outcome could be improved by a more activist monetary and fiscal policy. Specifically, they contended that the unemployment rate could be lowered while only resulting in slightly higher inflation.The argument posited the notion that economic-policy makers had sufficient knowledge to intervene or fine-tune the economy with tools like those of a surgeon. Presidents Johnson, Nixon and Carter (two Democrats and one Republican) followed this policy. At one point, President Nixon made the famous statement that “We are all Keynesians now.” Moreover, as the White House led, the Fed chairmen of the era – Martin, Burns and Miller – generally acquiesced.To judge the effectiveness of this policy, an objective standard is needed. Arthur M. Okun (1928-80), Yale colleague of Tobin, developed such a standard, which he called the Misery Index – the sum of the inflation and unemployment rates.Under the activist, Phillips Curve-based policy, some reduction in unemployment was temporarily achieved. However, inflation accelerated much more than was anticipated, and the net result was higher unemployment and faster inflation, an outcome not at all contemplated by the Phillips Curve. The Misery Index surged from an average of 6.7% in the 1950s, to 7.3% in the 1960s, to 13.6% in the 1970s, with peak rates above 20% in the early 1980s.Many US households suffered. Wages of lower-paying positions failed to keep up with inflation, and when higher unemployment resulted, many of those people lost their jobs. Those on the high end had far more resources that enabled them to protect their investments and earned income, so the income/wealth divide worsened. A half-century later, the United States has never regained the prosperity of the 1950s.Working independently in the late 1960s, economists Milton Friedman and Edmund Phelps, who would both eventually be awarded the Nobel Prize in economics, had determined that while the Phillips Curve was observable over the short run, this was not the case over the long run. While the economics profession debated the Friedman/Phelps research, the US had to learn their findings the hard way.Growing Evidence of the Long-term Depressants from Activist PoliciesIn addition to the compelling evidence that more active monetary and fiscal policy involvement did not produce beneficial results over the short run, three recent academic studies, though they differ in purpose and scope, all reach the conclusion that extremely high levels of governmental indebtedness diminish economic growth. In other words, deficit spending should not be called “stimulus” as is the overwhelming tendency by the media and many economic writers.Whereas government spending may have been linked to the concept of economic stimulus in distant periods, these studies demonstrate that such an assertion is unwarranted, and blatantly wrong in present circumstances. While officials argue that governmental action is required for political reasons and public anxiety, governments would be better off to admit that traditional tools only serve to compound existing problems.These three highly compelling studies are:“Debt Overhangs: Past and Present,” by Carmen M. Reinhart, Vincent R. Reinhart and Kenneth S. Rogoff, National Bureau of Economic Research, Working Paper 18015, April 2012;last_img read more

In This Issue   Antipodeans see profit taking

first_imgIn This Issue. *  Antipodeans see profit taking. *  Pound sterling is star performer overnight! *  China prints strong data! *  Silver to get boost from India? And Now. Today’s A Pfennig For Your Thoughts. Retail Sales Disappoints! Good Day! .  And a Happy Friday to one and all! This will be short-n-sweet today, I feel like dookie, and really just want to go back to sleep! But, even this out of whack feeling won’t stop me from getting the Pfennig out! Rain, sleet, snow, feeling like dookie, or anything else, will keep the Pfennig from going out!  Just typing that last sentence, makes me feel better, let’s hope that trend continues! The trend that has continued in the currencies is the lack of volume in trades. This has gone on way too long, and really has me concerned. The Currencies trading is usually around a $5 Trillion per day size business.. I doubt we’ve come close to that $5 Trillion in a month of Sundays. And when you have this lack of volume, you get wild swings. The wild swing that happened last night came from the Antipodean currencies of Australia and New Zealand.  These two had just spent the previous night and day in the spotlight, but just like that, the euphoria was thrown to the side of the road, and profit taking set in. Before you could say, “what, the what?” these two had lost a chunk.  and a wild swing from day to day occurred. One thing that you can’t rule out here is Central Bank intervention. Remember, these Central Banks, have mentioned over and over again that the currencies are at historical highs, against the backdrop of weak commodity prices. In other words, they think the currencies should be weaker, and after a day of Huge gains in these two, what better day to intervene and sell the currencies by the Central Banks?  I have no idea if this happened, and we wouldn’t know for a few weeks, I’m just saying. Remember a couple of days ago, when the euro had gotten whacked , I said, that the euro just needed a couple of days to allow the markets forget the pain. Well, that appears to be the scenario for the euro, as yesterday the euro began to creep higher, and overnight it has added to the gains, the moves are small, in that the single unit is still below 1.36, but rising nonetheless!  There’s really been no data to speak of here, so the euro is trading on its own, and doing much better than earlier in the week! The star performer overnight and through this morning’s session is the British pound sterling. I had read yesterday that Bank of England (BOE) Gov. Carney was going to be a key speaker at the annual Mansion House jamboree, and Carney decided to use this venue to tell everyone that the BOE may raise interest rates from a record low earlier than investors expected.  Now, this is where I want to get on my soapbox and yell at the top of my voice to the markets, that we’ve seen this all before! Remember? Carney kept promising a rate hike in Canada, and after a couple of years, where were Canadian rates? That’s right, unchanged. Carney had a bag full of promises then, and I would have to think that this horse hasn’t changed colors.  Of course if he does deliver a rate hike much earlier, then I will admit that he is a horse of a different color! But, I think the pound sterling will suffer much like the Canadian dollar/ loonie did after a run up in price, only to see the selling when the markets grew tired of waiting for Carney’s rate hike. But that doesn’t mean you can’t take advantage of a rising sterling as it’s taking place. It just means you need to be nimble when you begin to see the pieces of sterling’s armor begin to fall to the ground. Well, the World Cup kicked off (pun intended) yesterday with the host country Brazil beating Croatia.  And the tourists and soccer fans are pouring into Brazil, and exchanging their base currencies for Brazilian reals. The real has really responded favorably lately, and its strong move has me worried. I know that some of you weren’t around the last time we saw the real go on a tear ( a few years ago it was the best performing currency with a 34% gain one year!) the Brazilian Gov’t and Central Bank teamed up to bring the real to its knees, and beg forgiveness for being so strong.  This time, the gang of two, as I like to call them, are singing a different tune, and besides real isn’t nearly as strong as it was before.  But in the past year, real has moved from 2.4550 to 2.2315, where it trades today..  (remember, real is a European priced currency, so the lower the price, the more value it returns in dollars)  Just remember, that reals can be very volatile, which is why I always say that it should only be bought in the speculative portion of your investment portfolio.  Good investors know that by doing that, they’ll not worry about the volatile moves. The South African Credit Rating was downgraded by Fitch overnight from stable to negative. YIKES!  Maybe Fitch didn’t get the memo that the strike in S. Africa mining had ended! Needless to say that this downgrade news was not taken kindly by the S. African rand.. The rand has really taken it on the chin for the last year, and hasn’t been able to find a bid anywhere. I think the S. African Central Bank will have to hike rates to get the bleeding to stop here in the rand. But I doubt that will happen any time soon, so batten down the hatches rand holders. China printed some good data overnight. Chinese Industrial Output rose at a 8.8% clip in May from a year earlier, up from the 8.7% clip in April. And Retail Sales for May increased 12.5%!!!!! Now that’s a Retail Sales figure a country can be proud of! (we’ll talk about the U.S. Retail Sales report in a minute) Recall that a week or so ago, I told you that I thought the Chinese Gov’t was going to step up the stimulus for the economy. Well, these reports are either telling us that the Chinese Gov’t did step up the stimulus and it’s already working, or that the economy didn’t need any more stimulus other than the “mini-stimulus” that was already in the works! I prefer to think that it was the latter of the two! In India overnight, the rupee lost some more ground, as it still attempts to remove the knife from its back, but there were a couple of new items that should help the rupee going forward. First, India’s state-run solar company announced plans to auction contracts to build 100 megawatts of solar-thermal capacity. And the second new item was that India imported Gold at the highest capacity in 10 months!  Now, while these news items will actually help Silver and Gold more than they will help the rupee, I think the good overall feeling in India will continue to grow, and that will play well in the sandbox with the rupee. Speaking of the solar story being good for Silver. I just put the finishing touches on the July issue of the Review & Focus, and in it I go through the math of how Silver plays out in the production of megawatts solar panels. so, be sure to look for the R&F at a newsstand near you! No. wait Chuck! The R&F is only available to clients of EverBank World Markets! Oh well, you have a couple of weeks to sign up so you can receive this excellent letter each month! HA! And speaking of Gold. It added another $9 to its price yesterday. but the two darlings of the precious metals, Platinum and Palladium got whacked yesterday when the news of an apparent end to the mining strikes in S. Africa hit the streets. I think this was good for these two, given that they had really rallied recently and left a lot of investors behind. But now these investors can step into these metals at much cheaper prices and feel good about it! The fundamentals for all the metals haven’t changed, folks. The U.S. Data Cupboard will print the May PPI (wholesale inflation) reports this morning, but don’t expect PPI to pop out and surprise us. Year on year will probably print at a +2.4% clip, which doesn’t mean a hill of beans to me.  But what did mean a hill of beans to me was yesterday’s Retail Sales print from the Data Cupboard.  May Retail Sales disappointed everyone by only gaining .3%  instead of .6% that was expected.  Car Sales, which I had already told you would be strong, were the bulk of this report, which means consumer spending on other stuff, just wasn’t there. The markets didn’t look at it like that, instead they chose to look at how April’s anemic .1% gain was revised upward to .5%…  That’s quite a large “revision” don’t you think?  I find this revision to be suspect!  In my mind, how can grownups print that revision with a clear conscience? For What It’s Worth. My good friend, Dennis Miller, who writes an excellent letter for retirees or people getting close to retiring, like me!, sent me a note yesterday, and said that some data he saw showed  in the last 12 months Student Loans had increased $124 Billion, and the total for Student Loans was now greater than the total of Credit Card loans.  Hmmm, I thought, for a minute, and my mind immediately thought about how Student Loans last a very long time, while Credit Card loans might get paid off at any time.   So, that tells me that Student Loans are a bigger deal..  You may recall me venting earlier in the week about the President announcing some sort of bail out on Student Loans.  So, now I’m fuming. Then Alex Daley, the economist from the Casey Research group chimed in, and said that he had been screaming about this for a while. Let’s listen to what Alex had to say, “There is a bailout coming, as Student Loans are up 400% in 5 years, and non-payment rates have climbed 50% already, even with defaulting being nearly impossible legally.”   Now, I’m on fire! Smoke is coming out of my ears! I need to get some cold water thrown on me! Houston, we have a problem here. and it’s not a failure to communicate! It’s a problem surrounding not making people be responsible or accountable for what they sign up for!  It’s the storyline in this country that keeps getting more and more blown out of proportion, and will continue on that path, until it doesn’t. And then, people will wonder.. I wonder how this ever started in the first place.. Chuck again. Well, I never left actually! The FWIW section today was brought to you by ME! OK, stop acting silly, Chuck, this stuff is important! That’s right, I’m sorry. But I just can’t fight this any longer. I can rant and pound my fist till I turn blue, but it won’t do any good. There’s just no “accountability” any longer. It’s always someone else’s fault, and if you get in over your head, the Gov’t will bail you out. It’s all about the Gov’t’s need to make you more dependent on them, folks. when will people wake up and smell the coffee! To recap. The currencies and metals are mixed today. With pound sterling coming out on top as the best performer overnight, on some Carney promises. The Antipodean currencies saw profit taking or Central Bank intervention overnight. And China, and India both printed some good data or had good stories that should be good for the currencies going forward, and good for Silver and Gold.  U.S. Retail Sales for May were disappointing, but April was “revised” upward, very curiously I must say. Currencies today 6/13/14. American Style: A$ .9380, kiwi .8650, C$ .9210, euro 1.3575, sterling 1.6960, Swiss $1.1120, . European Style: rand 10.7740, krone 6.0080, SEK 6.6715, forint 226.85, zloty 3.0495, koruna 20.2640, RUB 34.47, yen 102.05, sing 1.2510, HKD 7.7515, INR 59.75, China 6.1503, pesos 13.02, BRL 2.2315, Dollar Index 80.63, Oil $107.05 (look at this soar, on the Iraq problems) , 10-year 2.60%, Silver $19.51, Platinum $1,443.75, Palladium $818.85, and Gold.. $1,272.90 That’s it for today. Well, my calendar popped up to tell me to not to forget that tomorrow is the 15 year anniversary for Jen Mclean at EverBank!  I could go on about how long Jen and I have worked together, but then that would be revealing her age!  Let’s just say, it’s been a few years, eh? Thanks for staying with me all these years, Jen. Well, the sun is coming up! Yes, the sun! We are supposed to have two days of sunshine here in St. Louis, with rain returning on Sunday. Sunday is Father’s Day. I miss my dad. But doesn’t everyone that has lost their dad? My dad was a tough guy, the Union steward for Teamsters 500, fought in WWII, but knew when someone needed love instead of a kick in the butt. He taught me so much, and I know I never told him I loved him near enough. So.. if your dad is still around, make sure to give him a hug, yes, guys even you.. and tell him you love him.  And just like on Mother’s Day weekend, I have a short poem for Dad. So, let’s go make this a Fantastico Friday, even though I’m going back to bed! Over the years As we grow old, We remember our father So brave and bold. In the garden, Leaning on the plow, He would listen to me; I see him now. He would give advice And understand; He was always there To lend a hand. God made fathers Strong and firm, For he knew our lives Would have great concerns. So he gave us fathers To teach us to pray, And guide our lives, And show us the way. So on his day Let’s take the time To say “Thanks, dad. I’m glad you’re mine.” Chuck Butler President EverBank World Marketslast_img read more

Fourteenyearold Caydden Zimmermans school days

first_imgFourteen-year-old Caydden Zimmerman’s school days start early and end late.He has a 90-minute bus ride to get from the homeless shelter where he is staying in Boise, Idaho, to his middle school. He wakes up at 5:45 a.m., quickly brushes his teeth and smooths some gel in his hair, and then he dashes downstairs to catch his school bus.About 2.5 million children in the U.S. currently are homeless, according to the National Center on Family Homelessness. That number is rising as house prices and rental costs continue to grow in cities large and small, and the trend is clearly visible in Boise — the fastest-growing city in the nation.Caydden has been living at City Light Home For Women and Children for a couple of months now with his 11-year-old brother, Keston, and his grandma, Pam Cantrell. Cantrell says they moved there after getting an eviction notice at their former duplex.”The landlord decided to sell the property, and we just could not find a place we could afford,” Cantrell says. “The more I looked, the more depressed I got. I just, I didn’t know what to do.”Like Cantrell and her grandsons, many low-income families in Boise struggle to find housing they can afford. Cantrell gets a small disability stipend from the government, but that’s nowhere near enough to cover rent and other expenses.The boys’ mother is addicted to drugs and struggles with mental illness, Cantrell says, which is why grandma is the boys’ full-time caretaker now.”I grew up being alone, raised by my older brother and my grandma,” Caydden says. “She means everything. Without her I wouldn’t be here. I’d probably be dead somewhere.”After three months of searching, the shelter became their only option. Cantrell is grateful to have a place to stay but says not having a permanent home is really hard on her grandsons.”My youngest one, he can be a little terror, because he’s upset by it,” Cantrell says. “He gets angry, and he’ll sit in the corner and say, ‘I hate this place, I hate this place.’ “”It’s just an effort to try not to break down”It’s difficult for Caydden too, but you wouldn’t know it. Caydden is a social 14-year-old with a big smile. One of his favorite things about school is seeing his friends.”My friends know about it — me being homeless — they don’t tease me on it,” Caydden says. “They just know that I’m doing it, I’m trying to work hard. And it’s just an effort to try not to break down.”Homeless kids tend to score lower on standardized tests and have lower graduation rates. It’s harder to concentrate when you’re anxious and worried. And sometimes Caydden does break down with his friends.”They always bring me up when I’m feeling down,” he says. “They make me smile when I’m sad.”Caydden’s grades have improved since he started at this alternative middle school for students who struggle in traditional academic settings. The school district received a grant to pay for a bus to transport homeless students who are scattered across the Boise area.Homeless students often bounce around to different schools as their living situations change. That can make it nearly impossible to keep up, so Pathways Middle School Principal Eric Eschen wants to do everything he can to keep tabs on students like Caydden.”He’s a very positive student, very giving, a very good friend,” Eschen says. He points to a recent time when Caydden approached him to alert him that another student was making a mess with mustard in the bathroom. He took it as a sign that Caydden cares about the community and the school. For homeless kids, sometimes school can be a place of refuge and consistency in an otherwise hectic and messy world.Eschen keeps an eye on Caydden because, like a lot of students in his situation, he struggled with absences last year.”That really affected him and affected his progress, so we’ve got some catch-up to do this year,” Eschen says.At the end of the school day, it’s another 90-minute bus ride before Caydden meets his grandma on the steps of the homeless shelter. They wait outside for Caydden’s brother to arrive on another bus. Meanwhile, Caydden checks in with Cantrell about the week’s schedule.”Grandma, on Friday are you just going to go in and wait for me and Keston?” he says. “Cause you’ve got laundry.””Yeah, I probably will,” Cantrell says. She has to keep Caydden apprised of her comings and goings at the shelter so that he won’t worry.Growing up fastCaydden has had to grow up faster than your typical 14-year-old. With his dad out of the picture and his mom’s drug addiction, he often had to be responsible for his little brother.”Help get him ready for school, I had to make sure Mom wasn’t … gone,” Caydden says. “I had to feed Keston when Mom was passed out for days. There was one time when we only had cereal for, like, two weeks.”Caydden has been trying to convince his grandma that she should let him get a job so he can help with rent. He’d like to earn money at a fast-food restaurant or, at the least, raking leaves and shoveling snow.”It’s like something I want to do,” Caydden says. “I just want to help out.”But Cantrell, aware that her grandson has already been through more than most teenagers, won’t have it.”You are not getting a job. You need to be a child as long as possible, Caydden,” she says, patting his knee. “You don’t want to be in a big hurry to grow up, honey.””This is home!”A few weeks later, there’s good news in Caydden’s world — they found a house. It’s about 700 square feet that they share with another woman from the shelter. Caydden sleeps in the basement, in a tiny room with concrete walls and a small window. Cantrell and Keston sleep on inflatable mattresses in the living room.”It’s not the greatest, but it’s not the worst,” Cantrell says. She’s been working on sprucing up the place. She plans to brighten up the living room with fresh paint.But for Caydden, it’s a huge improvement.”I feel much more comfortable and safe,” he says. He loves that the house is near Boise State University and has a weed-filled backyard that backs up to an alley. On football game days, he figured out that he can sell parking spots in the yard to game-goers.”Last weekend we made 90 bucks!” Caydden says. He’s scheming about trying to sell sodas on game day, too.But probably most importantly, he can claim something he hasn’t been able to for quite some time:”This is home!” he says, smiling.This story was produced by the Mountain West News Bureau. Copyright 2018 Boise State Public Radio. To see more, visit Boise State Public Radio.last_img read more

Disabled campaigners and their allies have called

first_imgDisabled campaigners and their allies have called on the transport secretary to restore “vital” government funding for projects to improve access to rail stations across England, Wales and Scotland.In a letter signed by more than 50 organisations, Transport for All (TfA) – which campaigns for an accessible transport system – calls on Chris Grayling to restore tens of millions of pounds of funding for the Access for All scheme that has been deferred by the government.The letter says that deferring half of all planned Access for All projects means that the “already slow progress on rail access has all but ground to a halt”.The decision by the chair of Network Rail – later rubber-stamped by Grayling – to cut Access for All funding for 2014-19 from £102 million to £55 million, with the rest carried over to 2019-24, was first revealed by Disability News Service last year.The letter has been sent as Grayling is due today (Thursday) to announce future levels of Network Rail funding, which TfA says provides an “opportunity to get things back on track”.But the department’s Accessibility Action Plan, published in August, pledges only that the government will deliver funding already announced – including the deferred funding – in full, and that it will “continue to seek to extend the Access for All programme further in the future”.The letter calls on Grayling to instead “invest in the potential of Deaf and disabled people” and reverse the decision to defer the Access for All funding, as well as commit to further Access for All funding after 2020 through “an ambitious long-term plan for making our railways fully accessible”.It tells Grayling that it is an “injustice” for Deaf, disabled and older people to be “locked out of our rail network”, and that accessible stations also benefit parents with buggies, dog-owners and people with luggage.The letter says government figures show that any money spent improving rail accessibility pays back nearly three times that amount in economic benefits, while an accessible station can mean “the difference between work and unemployment, a lifeline to friends and family or isolation”.The Transport for All letter has been signed by disabled people’s organisations including Inclusion London, Disability Sheffield, Ealing Centre for Independent Living, Kingston Centre for Independent Living, People First (Self Advocacy), Regard, Shaping Our Lives, Asian People’s Disability Alliance and Real.They say that nearly 80 per cent of rail stations across the UK do not have full step-free access, while many others do not have the other necessary access features such as tactile paving, audio-visual information and induction loops that enable Deaf and disabled people to use them.A Department for Transport spokeswoman said: “We take the issue of accessibility across all modes of transport very seriously and are continuing to improve station access through the Access for All programme and other major projects.“By 2019 at least 75 per cent of all journeys will be from stations with step-free access.“The Accessibility Action Plan is the next step in a much-needed dialogue with disabled people, carers, transport providers and local authorities to identify new ways to improve travel. “We also secured commitments from the rail industry earlier this year to help make journeys better for disabled people.”last_img read more

Russian Hacking Ring Steals More Than a Billion Passwords

first_img Enroll Now for $5 Add to Queue Guest Writer 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. Russian Hacking Ring Steals More Than a Billion Passwords Fireside Chat | July 25: Three Surprising Ways to Build Your Brand Next Article Hackerscenter_img –shares Opinions expressed by Entrepreneur contributors are their own. Blink, and there’s another headline about yet another data breach. First, it was Target. Then, in quick succession, Neiman Marcus and Michaels announced data breaches of their own. More recently – just this past Monday, in fact — P.F. Chang’s said that customers’ credit-card information at 33 of its locations had been compromised.Back in January, the U.S. Federal Bureau of Investigation warned retailers to expect more attacks.They weren’t joking. Turns out, the rash of reported attacks represents just a small fraction of the personal data already stolen by hackers.Related: P.F. Chang’s Says Credit-Card Breach Affected 33 RestaurantsBeginning in earnest this April, a Russian crime ring has collected the largest known stockpile of stolen online credentials, making off with 1.2 billion user name and password combinations and more than 500 million email addresses, The New York Times reported.This wide-scale hack job, which was brought to light by the cybersecurity firm Holden Security, targeted over 420,000 websites ranging from big-name companies to smaller websites, the firm wrote in a blog post.“Hackers did not just target U.S. companies, they targeted any website they could get, ranging from Fortune 500 companies to very small websites,” Alex Holden, the founder and chief information security officer of Hold Security, told the Times. “And most of these sites are still vulnerable.” In part for this reason, the firm has declined to identify a list of victims.All of this havoc was can be traced back to less than a dozen men in their 20s living in a small city in south central Russia, the Times reported. For now, it appears these guys are primarily using the stolen data to spam Twitter for other groups, charging a fee for the service.Related: Target, Neiman Marcus Hacks Could Be More Widespread, Experts SayThis, the Times noted, isn’t the best business strategy: “Selling more of the records on the black market would be lucrative.”Because people tend to use the same password for multiple sites, a single password, along with other stolen credentials, can be very valuable. Let’s say a thief gains access to your password for a retail site; he or she can then test it to try and access your bank account. (In other words, if your password for multiple sites – scratch that, any site – is “12345,” please change it now).This, of course, will not be the last time a massive security breach makes headlines. Do yourself a favor, then, and beef up your password security before the next attack is unearthed. Related: Your Password Is 123456? Wow. Seriously? Laura Entis 3 min read August 6, 2014last_img read more

Marvin Minsky AI Pioneer Dies at 88

first_img The world lost one of its brightest minds to a brain hemorrhage recently.Marvin Minsky was 88 when he passed on Sunday night. A World War II veteran, his life’s work was essentially creating and advancing the field of artificial intelligence. The New York Times has eulogized the Turing Award winner, writing that when Minsky was choosing his career path he “ruled out genetics as interesting but not profound, and physics as mildly entertaining, he chose to focus on intelligence itself.”This is a man who, in 1951, built the premiere “randomly wired neural network learning machine.” He also built the first confocal scanning microscope (read: extremely powerful) at Harvard in 1956.Two years later, along with John McCarthy (the man credited with naming “artificial intelligence”), he cofounded and taught at the Massachusetts Institute of Technology’s venerable A.I. lab. The man who wants to resurrect his father as an AI construct via paper records, Ray Kurzweil, was one of his students there too. Hell, director Stanley Kubrick even consulted him during pre-production on 2001: A Space Odyssey to get his take on whether or not computers would be able to speak by the year 2001.Saying he was brilliant would be a vast understatement, and I can’t possibly list all of his accomplishments here. But, that’s what NYT’s exhaustive memorial is for. Godspeed, sir. Timothy J. Seppala January 26, 2016 This story originally appeared on Engadget 2 min read Enroll Now for $5 –shares 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. Next Article center_img Image credit: Bcjordan | Wikimedia Commons Writer Obituaries Marvin Minsky Fireside Chat | July 25: Three Surprising Ways to Build Your Brand Add to Queue Marvin Minsky, AI Pioneer, Dies at 88last_img read more

Google Flights Will Alert You About Expected Price Changes

first_img Next Article Fireside Chat | July 25: Three Surprising Ways to Build Your Brand Google Flights Will Alert You About Expected Price Changes This story originally appeared on PCMag 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. The web giant wants to help eliminate some of the guesswork of trying to get the best deals on travel. Image credit: Shutterstock.com 2 min read Add to Queuecenter_img October 18, 2016 Angela Moscaritolo Google –shares Reporter We’ve all heard it before: it’s best to book a flight on Tuesday at 3 p.m. ET to get the lowest fare. But is that really true? That’s still up for debate, but now you can eliminate some of the guesswork when trying to get the best deals on travel, thanks to Google.Just in time for holiday travel planning, the web giant on Monday updated Google Flights with a feature that will show you when prices are expected to increase for specific flights and the routes in which you’re interested. The update also promises to make it easier to find good hotel deals and plan your trip on a mobile device. Now, when you select a specific flight, you may get a notification letting you know when the current fare is expected to expire and how much you can save if you book right away. If you’re looking at a certain route, but aren’t set on a specific flight, Google may display a notification bar with tips for finding the best price, including recommendations for alternate airports or dates and expected price changes based on past prices for that route.Google may, for instance, tell you something like “historically, 90 percent of the time the cheapest price on this route increased 7 days before departure by about $52.”You can opt to track a specific flight or route and receive email notifications letting you know when prices are expected to change. In the past, Google would only notify you when prices actually did increase or decrease significantly.Google plans to roll out these new fare expiration and expected price jump notifications over the coming weeks everywhere its Flights tool is available.Meanwhile, Google is also offering a better flight-finding experience on mobile devices with new features to let you track and manage your saved flights on your phone. There’s also a new tab called “Deals” when searching for hotels that will show places offering cheaper-than-normal lodging in your selected destination. Enroll Now for $5last_img read more

Denver May Become the First US City to Legalize Marijuana Use in

first_img The Colorado measure will permit private businesses to allow marijuana use by adults in designated areas with certain exceptions. North Carolina superintendent says new app can help reduce violence in schools Figure Out Your Family Tree Just in Time For Father’s Day Keep up with the latest trends and news in the cannabis industry with our free articles and videos, plus subscribe to the digital edition of Green Entrepreneur magazine. –shares A Safe Way to Get Rid Of Bugs in Your Home Congress Is Back as President Trump Heads to the UK Privacy Policy   |   Terms of Use Sunlight Shines on Grand Canyon Former world paragliding champion Rémy soars over Pyrenees Memorial Day Weekend Heat Wave Could Smash May Records Add to Queue The requested video is no longer available Embed 2 Musts for Tackling Allergy Season Delicious Summer Entertaining Ideas New York takes aim at skyscrapers’ sky-high energy usage Sophie Turner Talks Dark Phoenix, Co-Star Jessica Chastain and GoT Cannes: ticketless festival-goers seek seats for films Summer Beauty Survival Must-Haves This story originally appeared on Reuters US Navy: Russian destroyer almost collided with cruiser in the Philippine Sea Saint Laurent dazzles with men’s collection on Malibu beach 2 Musts for Tackling Allergy Season 2020 Toyota Camry Figure Out Your Family Tree Just in Time For Father’s Day 2020 Ballots May Have a New Box to Check ? Vice President A Petition Is Coming ? for a ‘Game of Thrones’ Final Season Do-Over Figure Out Your Family Tree Just in Time For Father’s Day Father’s Day is such a special moment for the whole family to come together and spend quality time with one another – and those are moments dad will cherish. What better way for dad to connect with his loved ones than learning about his family’s stor Lifeminute tv Memorial Day Weekend Heat Wave Could Smash May Records A LifeMinute with Ryan Seacrest A measure that would make Denver the first city in the United States to legalize the use of marijuana in such venues as clubs, bars and restaurants is expected to get enough votes to pass, backers and opponents of the initiative said on Tuesday.The announcement comes amid a string of victories for proponents of medical and recreational marijuana use, with voters in California and Massachusetts approving ballot initiatives legalizing recreational use of the drug last week.The Colorado measure will permit private businesses to allow marijuana use by adults in designated areas with certain exceptions. Backers of the initiative said it would make Denver the first city in the country where cannabis enthusiasts can enjoy the drug socially without fear of arrest.  “This is a victory for cannabis consumers who, like alcohol consumers, simply want the option to enjoy cannabis in social settings,” Kayvan Khalatbari, a Denver businessman and lead proponent of the so-called I-300 measure, said in a statement on Tuesday.While other states have authorized similar plans, Khalatbari said Denver would be the first to actually implement them. He said businesses in the city could start opening their doors to pot users as soon as late January.Approval for Denver’s initiative was leading in preliminary vote totals from last week’s election. While the city’s elections agency said they would not certify results until next Tuesday, campaigns that supported and opposed the measure both agreed it had passed.Rachel O’Bryan, the campaign manager for the opposition group Protect Denver’s Atmosphere, said by phone there did not appear to be enough outstanding ballots for the measure to fail.”Back in 2012, marijuana legalization passed with a strong majority in Denver … and now about four years later, I-300 passed with a much smaller margin. We think many voters voted in favor of marijuana legalization, but didn’t want to see marijuana everywhere,” she said.She said the bill’s opponents are concerned about public safety as well as issues of second-hand smoke indoors. O’Bryan said she hopes the city council and possibly the state’s Attorney General will closely examine the law to see if it runs afoul of provisions in state law barring public pot use.Recreational marijuana was first approved in 2012 by the states of Washington and Colorado, and later by voters in Oregon, Alaska and the District of Columbia. California, Massachusetts and Nevada all approved recreational use after voting last Tuesday.(Reporting by Curtis Skinner in San Francisco, editing by G Crosse) BACK Photo of solider placing flag at Tomb of Unknown Solider goes viral Denver May Become the First U.S. City to Legalize Marijuana Use in Bars and Restaurants Download Our iOS App Heat Snapshot DiCaprio, Pitt want to team up again after Tarantino hit Figure Out Your Family Tree Just in Time For Father’s Day IndyCar Beefing Up Business as Indy 500 Approaches A LifeMinute with John Lithgow: The Actor Discusses His Latest Projects Turning Up the Heat in the Southeast for Holiday Weekend Next Article Free Green Entrepreneur App Economy adds 75K jobs in May HBO’s ‘Chernobyl’ Phenomenon Southern Charm’ Star Talks New Season How Human Behavior is Hurting Animals and What We Can Do to Protect Them A Safe Way to Get Rid Of Bugs in Your Home IHOP Sees Explosive Growth in To-Go Sales November 16, 2016 Airbnb Wants to Take You on an All-Inclusive Adventure Cannes: ticketless festival-goers seek seats for films 2 Delicious Summer Entertaining Ideas Sophie Turner Talks Dark Phoenix, Co-Star Jessica Chastain and GoT Summer is here and there are some great looks this season for women of all shapes and sizes. Check out the hottest styles for hourglass, rectangle and pear shaped women. Economy adds 75K jobs in May Figure Out Your Family Tree Just in Time For Father’s Day Up Next: A Petition Is Coming ? for a ‘Game of Thrones’ Final Season Do-Over Swimwear Styles for All Shapes and Sizes Airbnb Wants to Take You on an All-Inclusive Adventure 3 min read Marijuana Albany Steps Closer to Releasing Trump’s State Tax Returns After Assembly Vote Beyond Meat Earnings Are Beyond Analyst Expectations Summer Beauty Survival Must-Haves Autoplay: On | Off Justin Bieber Launches Plant-Based Deodorant Reuters Rock and Roll Hall of Fame Guitarist Don ‘Fingers’ Felder Releases New Albumlast_img read more

Federal grant awarded to Indiana University researcherentrepreneur for startup

first_imgReviewed by James Ives, M.Psych. (Editor)Oct 10 2018A high-tech startup founded by an Indiana University researcher-entrepreneur has been awarded a federal grant to develop technology that aims to reduce the use of animals in chemical toxicity studies of food, pharmaceuticals, pesticides and other products.Dream Tech LLC has received a one-year STTR Phase I award worth $245,130 from the National Center for Advancing Translational Sciences, or NCATS. Kan Shao, an assistant professor of environmental and occupational health at the IU School of Public Health, founded the company.Related StoriesExpediting HPLC Method Development in Pharmaceutical AnalysisMaking Laboratories More Efficient with the Most Modern LIMS on the MarketLABVOLUTION: A digitized lab environment to be showcased at smartLAB 2019″Dream Tech is developing a method to incorporate existing information to enhance the efficiency and effectiveness of dose-response assessment, which addresses a chemical’s toxicity. This would reduce animal use in traditional toxicity studies,” Shao said. “The project supported by the STTR grant will make this the first system able to integrate useful information. It will significantly advance chemical risk assessment.”Shao said receiving an STTR grant from NCATS, which is part of the National Institutes of Health, is prestigious recognition for Dream Tech.”Applying for STTR funding is a very rigorous process, especially in meeting the high expectations of NCATS experts as they conduct scientific review and council review,” Shao said. “Being awarded one of these ultra-competitive grants reinforces our belief that Dream Tech and its work can help others.”Shao disclosed his innovation to the IU Innovation and Commercialization Office, which protects, markets and licenses intellectual property developed at Indiana University so it can be commercialized by industry. He licensed the innovation and launched Dream Tech to commercialize it. Source:https://news.iu.edu/stories/2018/10/iub/releases/04-dream-tech-receives-sttr-grant.htmllast_img read more