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December 27, 2010

Intellectual capture of regulators


What one might call intellectual capture. While I would strongly argue that the FSA in my day did not favor firms unduly, it is perhaps true that we--and in this we were exactly like our American counterparts--were inclined to believe that markets were generally efficient. If willing buyers and willing sellers were trading claims happily, then, as long as they were "professional" investors, there was no legitimate reason to interfere in their markets. These people were "consenting adults in private," and the state should avert its gaze.
We now know that some of these market emperors had no clothes--and that their activities were far from benign: They could result in severe financial instability and generate serious losses for taxpayers, not to mention precipitate a global recession. That has been a grave lesson for regulators and central banks.

-- Howard Davies, former chairman of Britain's Financial Services Authority and a former deputy governor of the Bank of England, is director of the London School of Economics. His latest book is Banking on the Future: The Fall and Rise of Central Banking.

November 12, 2010

Daydreaming



People spend 'half their waking hours daydreaming'

Daydreaming 'does not make you happy'
Continue reading the main story
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The joy of daydreaming
People spend nearly half of their waking hours not thinking about what they are actually doing, according to a US study conducted via the iPhone.

More than 2,200 volunteers downloaded an app which then surveyed them about their thoughts and mood at random times of day and night.

The Science study suggested minds wander, even from demanding tasks, at least 30% of the time.

October 31, 2010

Four Loko, for people who take drinking seriously


Four Loko joins this warped tradition. And what I quickly came to see was that if you set out to engineer a booze delivery system that is as cloying, deceptive and divorced from the usual smells, tastes and presentation of alcohol as possible, you'd be hard pressed to come up with something more impressive than Four Loko.

It's a malt liquor in confectionary drag, not only raising questions about the marketing strategy behind it but also serving as the clearest possible reminder that many drinkers aren't seeking any particular culinary or aesthetic enjoyment. They're taking a drug. The more festively it's dressed and the more vacuously it goes down, the better.

Four Loko cans -- I paid $3.50 apiece for mine -- are something to see, each sporting a few ultrabright, childlike hues in a kind of rippling weave that evokes a camouflage pattern. Fatigues like these are what an army of Teletubbies would wear into battle.

This obsession with vivid colors extends to the beverage itself. The watermelon-flavored Four Loko, for example, is a shade of rosy pink that put me in mind of sherbet. Or bridesmaid dresses.

Continue reading "Four Loko, for people who take drinking seriously" »

October 24, 2010

Triathletes extend life from 20s to 40s, and consume


"Triathlons are much better for the body than long-distance running. With triathlons, when you are injured running, you can still swim and bike."

-- Dr. Michael J. Neely, the medical director at NY Sports Medicine and Physical Therapy, based in Manhattan.

... And leads to branded consumerism:

all the accessories and lifestyle brands that now cater to him and other triathletes. They can now buy TriSwim's shampoo to remove chlorine, and sports drinks like Hammer Nutrition Heed, which is sold on Web sites like One Tri. There are aerodynamic helmets and sunglasses made for triathlons, as well as wet suits and tri-specific running sneakers made by K-Swiss, Asics, Zoots and Newton.

At Placid Planet, a bicycle and triathlon shop in Lake Placid, N.Y., the new must-have accessories are Zipp wheels and compression tights. "Zipp wheels are an aerodynamic carbon wheel that increase speed by reducing drag on the wheel," said Kenny Boettger, the owner. Compression tights and socks, he said, help athletes recirculate oxygen and blood. "This is the big thing right now and it works," he said.

There are also magazines like Lava, which began publishing in August and offers testosterone-fueled articles and profiles that appeal to men who dream about being Ironmen. With page after page of Lycra, equipment reviews and training tips, the magazine is geared for "hardcore triathletes who want to get right inside the fiery molten center of triathlon," according to its mission statement.

Lava's macho-man mantra is simple. "Forty is the new 20," said John Duke, who publishes the monthly magazine in San Diego. "And in triathletes, 40 isn't old. The median age of the sport is 41."

Good thing, too, since triathlons don't come cheap. "Forty-somethings are also the ones who can afford the sport," said Scott Berlinger, the head coach of Full Throttle, a 120-man triathlon team that is based out of the Chelsea Piers in Manhattan. "I tell my athletes everything costs $100 -- shoes, helmets, glasses -- and the big purchase is your bike."

A bicycle -- the tri-world equivalent of the red sports car -- can cost anywhere from several hundred dollars to more than $10,000. After the bike and the chiropractor bills, the biggest item is individual coaching, which can easily run $100 an hour.

"Triathletes are a discerning group of alpha consumers, with $175,000 average salaries," said Erik Vervloet, vice president for sports marketing at K-Swiss, which jumped into the tri-market three years ago. "The average Ironman spends $22,000 a year on the sport."

The high price is an issue, particularly for spouses. "I still argue with the wife about the costs," said Mr. Goodman, the triathlete from Stamford. His gear includes a $5,000 Cervelo bicycle, a $3,000 Pinarello bicycle, Xterra Vector Pro2 wet suits, Izumi Tri Fly 111 bike shoes and a Lazer Tardiz helmet.

But his wife, Amy, eventually came around. "At first it was a bit hard for me to swallow," said Ms. Goodman, 32, who is attending graduate school in the field of public health, "but when I saw that the bike wasn't going to hang on the wall, I thought, in terms of self-indulgences, this is one of the best things he could be doing."

Continue reading "Triathletes extend life from 20s to 40s, and consume" »

November 7, 2009

Taxing somebody other than taxpayers

Prime Minister Gordon Brown of Britain, leading a meeting here of finance ministers from the Group of 20 rich and developing countries, said such a tax on banks should be considered as a way to take the burden off taxpayers during periods of financial crisis. His comments pre-empted the International Monetary Fund, which is set to present a range of options next spring to ensure financial stability.

Continue reading "Taxing somebody other than taxpayers" »

October 21, 2009

Surveillance 'totally unwarranted'

Suspected of sending children to an out-of-distrct school, state collected a surveillance report and the family's telephone billing records.

"As far as I'm concerned, they're within their rights to scrutinize all applications, but the way they went about it was totally unwarranted.

Continue reading "Surveillance 'totally unwarranted'" »

September 6, 2009

How big is UK cel / mobile phone market

BERLIN -- Deutsche Telekom and France Telecom said Tuesday that they were planning to merge their struggling mobile operations in Britain, creating the largest mobile phone operator there.

The companies said the 50-50 venture, combining Britain's third- and fourth-largest operators, would have 28.4 million customers and a 37 percent market share, according to Gartner, leapfrogging the market leader, O2, with 27 percent, and Vodafone, with 25 percent. The companies said they expected to sign an agreement by the end of next month.

Merger Would Create U.K. Mobile Giant

By KEVIN J. O'BRIEN
Published: September 8, 2009

Britain's popultion is about 61 million.

August 26, 2009

verdes Vadera, green shoots, he scores

The popularity of the term "green shoots" shows the kind of social epidemic underlying our changing thinking. The phrase was propelled in Britain by Shriti Vadera, the business minister, in January, and mutated into a more contagious form after Ben Bernanke, the Federal Reserve chairman, used it on "60 Minutes" on March 15.

The news media didn't need to change the term for different cultures around the world. With nothing more than a quick translation -- brotes verdes, pousses vertes, grüne Sprösslinge, etc. -- it is now recognized as a symbol of a revival coming soon.

All of this suggests that a social epidemic is supporting renewed confidence. This confidence can keep growing by contagion, as a kind of self-fulfilling prophecy, and we may see the markets and the economy recover further.

Continue reading "verdes Vadera, green shoots, he scores" »

May 23, 2009

Late night safety bus

If public transport and public health could merge, there would be a safe way to get home at night.

Atrios would approve, if public safety is a public good.


Phoenix, AZ 2009 May 21:

The Valley's light rail will soon extend its hours on the weekends.

Currently, the light rail makes its last run at 11 p.m.

However, starting July 1, the trains will leave from both ends of the line at 2 a.m., which means if your stop is somewhere in the middle, the final train will sometimes come past 2 a.m.

On Wednesday, the METRO Board of Directors approved the new hours.

The change was made after getting feedback from passengers and businesses along the light rail route.

Melissa Harrigan, a bartender at Zuma Grill in Tempe, said she thinks the change will be good for business because people will be able to stay longer.

She also said that she feels it will keep the roads safer because a bigger group of people won't be drinking and driving.

According to a METRO news release, the estimated fiscal and maintenance impact for extended weekend service is $254,500 annually to the METRO operating budget.

After six months, the Board will review ridership statistics and costs associated with the service extension to see if the change is cost effective.


Published in transit, urbanism, UK, SFO, ny.

August 12, 2008

FT Alphaville

FinancialTimes' ftalphaville. Instant trends, market moves, as seen from the City outside the USA.

January 10, 2007

FX UDS EU by Bond Dad

FX: US$ vs Euro, US$ collapsed 2002-2005.
Noted by Bond Dad.

November 3, 2006

Music ban strikes a chord

Campaign for quiet passengers and quiet electronics
(cel phone ring tones, iPod, walman headphones).

Music ban strikes a chord.
-- Headline that could have been used.

Continue reading "Music ban strikes a chord" »

September 21, 2006

Separated by a Common Language

Separatedbyacommonlanguage compare US English to British English.

June 16, 2006

Jimmy Carr

Best use of dramatic pause.
-- Jimmy Carr.

April 28, 2006

Belgian assembly

Brussels Journal tracks crime in Europe and faults the Beeb.

December 24, 2005

Patrick Crozier

Patrick Crozier, more linker than thinker, points
to many good quotes.

In a comparison of a 1973 algebra textbook and a 1998
“contemporary mathematics” textbook, Williamson Evers
and Paul Clopton found a dramatic change in topics.

In the 1973 book, for example, the index for the letter “F”
included “factors, factoring, fallacies, finite decimal,
finite set, formulas, fractions, and functions.”

In the 1998 book, the index listed “families (in poverty data),
fast food nutrition data, fat in fast food, feasibility study,
feeding tours, ferris wheel, fish, fishing, flags, flight, floor plan,
flower beds, food, football, Ford Mustang, franchises, and
fund-raising carnival."

October 26, 2005

Dave Cross, data munger

Dave Cross, London based perl guy, has long been in my pingoshere.

Picks up on techs trends, not ASAP, but as they start crossing the
chasm. And summarizes them.
Also a fierce advocate for good customer service, with
emphasis on forthcoming non-deceitfulness over pampering.
And lefty local pantser.

Update 2006 Mar 01: Now on OnLamp.

Continue reading "Dave Cross, data munger" »

August 10, 2005

lyrics

Cornershop, as explained by Mr GrumpyGus.

There’s Dancing Behind Movie Scenes
behind The Movie Scenes, Sadi Rani
she’s The One That Keeps The Dream Alive
from The Morning Past The Evening
to The End Of The Light

Brimful Of Asha On The 45
well, It’s A Brimful Of Asha On The 45

May 6, 2005

Ben Hammersley

Ben Hammersley, web-centric technology coverage, presentented with
excellent minimalist page layout.

">Archives, Twitter.