Saturday, February 4, 2012

Facebook and the St. Petersburg Paradox | Business Risk ...

In today?s ?Intelligent Investor? column in the Wall Street Journal, columnist Jason Zweig draws some interesting parallels between buying into Facebook?s IPO and the famous ?St. Petersburg Paradox? game proposed in 1738 by Dutch-Swiss mathematician Daniel Bernoulli?

Facebook and the St. Petersburg Paradox

online.wsj.com

Investors thinking about Facebook should consider a mathematical riddle that shows how growth stocks can get overvalued so easily.

Source: http://risk.garven.com/2012/02/04/facebook-and-the-st-petersburg-paradox/

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Basic Suggestions to learn about Auto repair in Las Vegas

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Source: http://matrixreasoning.com/?p=1465

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Friday, February 3, 2012

Detroit mayor touts concessions; pressure builds (Reuters)

DETROIT (Reuters) ? Detroit Mayor Dave Bing gained momentum in his fight to convince state officials that the financially crippled city does not need a state takeover as he reached a tentative cost-cutting deal with about half the city's 48 unions.

Bing, in a statement issued on Thursday, hailed the tentative agreement forged Wednesday night with AFSCME, the public-sector union, as "the first meaningful step in achieving the necessary concessions and structural changes to resolve the city's financial crisis." The deal, which is subject to ratification by union members, would impact about 3,200 workers, or a third of the city's headcount.

Bing has said Detroit will run out of money by May without significant givebacks from unions.

The three-year deal includes a 10 percent pay cut and health-care and pension concessions, according to Michael Mulholland, secretary/treasurer of Local 207 of AFSCME, the American Federation of State, County and Municipal Employees, which represented some city lighting department workers in the talks. The deal also calls for restoring some of the money cut from worker pay should Detroit enjoy a budget surplus.

"There's a lot of pressure with the financial manager (threat) to accept it," Mulholland said..

But even as Bing praised a deal that he said was not "just about concessions...it's about how labor and management can work together in a fair and constructive way," the future of Detroit, Michigan's largest city, remained uncertain. Many on the nine-person city council consider Bing's $102 million cost-cutting plan insufficient.

The agreement, which does not cover uniformed workers -- such as police and fire personnel -- fell shy of the January 31 deadline that Bing had initially set for agreements with all of the city's 11,000-plus workers. City council members have said that union agreements that do not include hefty concessions from uniformed personnel will fall short.

In addition, Bing must lower the cost of annual health-care and pension costs paid to Detroit's 22,000 retirees.

Mulholland was skeptical that Bing can wring enough from the labor deals to rescue his administration. "Our view is it won't save us from an emergency manager."

'DRACONIAN' CUTS

Amid Detroit's struggles to revamp its finances, Michigan Treasurer Andy Dillon is leading the review of its books. Dillon has less than a month to make a recommendation to Governor Rick Snyder on whether Detroit needs to join Michigan's six other public entities - including the cities of Flint and Pontiac - that are already under the leadership of an emergency financial manager.

Detroit has suffered a staggering population decline in recent years, causing its revenue base to shrink. And companies that once paid hefty taxes, including General Motors Co, have lowered their presence in a city that was long synonymous with the auto industry.

In recent days, the city council has been crafting a cost-cutting plan that includes a set of actions decried by Gary Brown, the president pro-tem of the council, as "draconian."

Bing and the city council would lose much of their power if an emergency manager were appointed.

In an interview last month with Reuters, Snyder, the governor, said he prefers a so-called consent agreement over an emergency manager. Such an agreement would have state-mandated targets that would need to be met by city leaders in an agreed timeframe.

But Snyder has left the decision on an emergency manager to Dillon, who has not given public comment on the issue in several weeks.

The city council's deeper cost-cutting plan includes a proposal to shut down all of Detroit's recreation centers, levy a new $300 garbage fee, suspend EMS services, and close the health department. The city council expects some of these actions would be included in a consent-agreement if one is created.

Even without these additional cuts, the city's services are deteriorating.

On Friday, for instance, one of the city's four public health clinic, the Herman Kiefer clinic on Detroit's west side, will close its doors as part of a $2.5 million downsizing of the health department. The more than 2,000 people who use the facility will be directed to a clinic about a mile and a half away.

During a meeting on Monday, health department officials were heavily criticized by members of city council who were outraged over the department's failure to secure federal funding for the clinic. A family planning office and substance abuse recovery center will remain open at the Herman Kiefer complex thanks to federal funds.

(Editing by Leslie Adler)

Source: http://us.rd.yahoo.com/dailynews/rss/us/*http%3A//news.yahoo.com/s/nm/20120202/us_nm/us_detroit_unions

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A Unique Outlet To Find And Share House Plans, Interior And ...

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ihousedesigner

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Email: ihousedesigner@ymail.com


Market Press Release ? February 2, 2012 11:47 am ? If you are thinking about building a new home, instead of choosing a set of House plans that are the same as everyone else has, you need to check out the house plans available at ihousedesigner.com. We can provide you with unique, innovative and exciting house plans, which will help you to create your dream home. We have a complete array of interior house designs, as well as garden designs from a variety of professionals and amateurs.

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Source: http://www.marketpressrelease.com/A-Unique-Outlet-To-Find-And-Share-House-Plans-Interior-And-Exterior-Designs-And-More-1328183236.html

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Thursday, February 2, 2012

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Source: http://movingcompany1.com/Blog/2012/02/02/best-movers-new-jersey-brick-nj-08723-3/

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Documenting Discovery: NASA, Archivists Work to Record Space Shuttles' History (SPACE.com)

While the Smithsonian gets ready to receive the retired space shuttle Discovery for display this spring, NASA, together with archivists spread across four states, is preparing to preserve the historic orbiter and its sister ships digitally and on paper.

The agency's efforts, called "Space Shuttle Recordation," recently became public through a new NASA website.

"Recordation is a term generally used in the context of Historic American Building Surveys or Historic American Engineering Records," NASA's federal preservation officer Jennifer Groman told collectSPACE in an e-mail. "We at NASA have adopted the term for a broader purpose to cover the documentation efforts we are conducting as part of a memorandum of agreement with several state historic preservation officers and the Advisory Council on Historic Preservation for our Section 106 compliance under the National Historic Preservation Act."

Section 106 requires federal agencies to take into account the effects of their undertakings on historic properties. In this case, it is NASA's decision to transfer the shuttles to museums for public display. [Photo Tour Inside Shuttle Discovery]

Under the memorandum of agreement, NASA is developing a historical narrative of the development and design of the Space Transportation System, more commonly known as the space shuttle.

"The recordation package will include measured drawings developed by the National Park Service and contractors based on laser technology, large format photographs, oral histories, videos and a bibliography," Groman said.

According to its website, the recordation effort is paying special emphasis to the changes to the orbiters that were ordered in the wake of the two shuttle accidents. Shuttle Challenger was lost 73 seconds into its launch on Jan. 28, 1986 and Columbia was lost 16 minutes before its planned landing on Feb. 1, 2003.

Discovery, which returned the fleet to flight after both of the tragedies, has been identified by NASA as the "shuttle of record," which means it has been and will be the orbiter most extensively documented and researched.

Uploading the shuttle

Over the past two years, NASA has partnered with state historic preservation offices in Alabama, California, Florida and Texas, as well as the National Park Service, to carry out its recordation effort.

"NASA has had team member representatives from every center that have been involved with the development and preparations of the orbiters," Groman said. "Additionally, different NASA personnel and contractors located across the country have contributed photos of the preparations and last flights of each orbiter, conducted oral histories, and developed the recordation package."

Now those multimedia materials are beginning to be made available online for public use.

Click here to visit NASA's Space Shuttle Recordation website.

"The Space Shuttle Recordation website was kicked off in December of 2011," Groman said. "We are still awaiting delivery of different recordation products that will be made available on our website as they are completed, such as the final versions of the narrative, photos and measured drawings."

A copy of the materials will also be held by the Library of Congress.

Among the recordation features already online are nearly 60 panoramic images, or 360-degree movies, of Discovery from both exterior vantage points and from inside its crew cabin and payload bay.

An historical narrative, which Groman expects to be "fairly thick in hard copy," will be posted online this summer.

Downloading Discovery

As the virtual space shuttle Discovery debuts on NASA's recordation website, the real orbiter is in the final stages of being readied for display at the Smithsonian's National Air and Space Museum.

The museum stated last week that Discovery would arrive at Dulles International Airport in Washington, D.C. on April 17 and then be transferred to its annex, the Steven F. Udvar-Hazy Center, located adjacent to the airport two days later.

Flown from the Kennedy Space Center in Florida on top of a modified Boeing 747 airliner, Discovery will be the first of NASA's retired space shuttles to go on public display.

The dates for Discovery's delivery are weather contingent. Additional related activities, such as a possible flyover of Washington, D.C., are still being finalized.

Discovery will take the place of the test orbiter Enterprise, which will similarly be moved to New York City's Intrepid Sea, Air and Space Museum within a week of Discovery's arrival.

Discovery's sister ships, Endeavour and Atlantis, will be delivered to their display homes in California and Florida later this year and in early 2013.

Follow collectSPACE on Facebook and Twitter @collectSPACE and editor Robert Pearlman @robertpearlman. Copyright 2011?collectSPACE.com. All rights reserved.

Source: http://us.rd.yahoo.com/dailynews/rss/space/*http%3A//news.yahoo.com/s/space/20120201/sc_space/documentingdiscoverynasaarchivistsworktorecordspaceshuttleshistory

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Wednesday, February 1, 2012

New Cornell Campus to Cultivate High-Tech Industry in New York City [Slide Show]

Features | Technology

A collaboration with an Israeli University will incubate start-ups from an East-River island with a colorful past


cornell, tech, israel, new yorkTECH TRANSFORMATION: Cornell and Technion plan to build their 18.6-hectare NYC Tech campus on the site of Goldwater Memorial Hospital (pictured), which operates on Roosevelt Island, 52-hectare sliver of land in the East River between Manhattan and Queens. Image: Courtesy of Larry Greenemeier

For years New York City?based universities have been opening satellite campuses worldwide, whether it is New York University's sites in Abu Dhabi and Tel Aviv or Columbia University's Global Centers in Beijing and Nairobi. Technion?Israel Institute of Technology in Haifa is returning the favor in a big way, partnering with Ithaca, N.Y.?based Cornell University to build a campus on New York City's Roosevelt Island.

The purpose of this high-tech venture is to turn the 52-hectare sliver of land in the East River between Manhattan and Queens into a techno island of sorts, an incubator for start-ups akin to what Stanford University has done in Silicon Valley and Massachusetts Institute of Technology's (M.I.T.) role in the Boston area.

By 2027 Cornell and Technion plan to have buily more than half of their 18.6-hectare NYC Tech Campus on the site of Roosevelt Island's Goldwater Memorial Hospital, just south of the Ed Koch Queensboro Bridge. Coursework aimed at cultivating health care, social media and green energy entrepreneurs could begin on site as early as 2017. Cornell and Technion hope to attract 2,500 students and 280 professors learning, teaching and living on the island within two decades.

NYC Tech will offer a dual masters from both Cornell and Technion in applied science. The program will be tailored to students who already have an undergraduate degree in a technology-related discipline?such as computer science or engineering?and add to that the business and entrepreneurial skills needed to develop and commercialize new technologies. Students will have mentors from New York?based businesses and work on projects with real-world applications, says Daniel Huttenlocher, Cornell dean of computing and information science.

The ultimate goal is to initiate student- and faculty-led start-ups that will remain in New York City. *The NYCTech Campus plans to establish a $150 million revolving financing fund that will be solely devoted to start-up businesses in the city,.

Cornell alumni have a strong track record in forming successful tech companies but few have remained on the east coast. Irwin Mark Jacobs, who graduated from Cornell in 1956 with an electrical engineering degree, co-founded San Diego-based telecommunications company Qualcomm in 1985. PeopleSoft, Inc., which made human-resource management software before being bought by Oracle in 2005 for $10.3 billion, was co-founded in 1987 in Walnut Creek, Calif., by Cornell alumnus David Duffield.

Huttenlocher attributes some of Cornell's challenge of retaining its homegrown talent to its relatively isolated and rural location. E Ink Corp. (makers of the Amazon Kindle's electronic paper displays) and Harmonix Music Systems (makers of Guitar Hero and other popular video games) emerged out of M.I.T.'s Media Lab but stayed nearby in Cambridge. Carnegie Mellon University has likewise benefited from spin offs Pittsburgh Pattern Recognition (makers of computer vision software) and RedZone Robotics remaining near Pittsburgh.

The challenges NYC Tech graduates will face in New York City are less about isolation than they are about setting up shop given the city's pricey real estate, which is where the $150 million financing fund may come into play. One of Technion's roles will be to lend its experience getting start-ups off the ground near its Haifa campus.

Columbia has since 1982 had a program to help turn entrepreneurial ideas into start-ups through that university's Technology Ventures office, but Huttenlocher says Cornell and Technion are taking a new approach. NYC Tech's applied science program will be organized around three interdisciplinary themes relevant to industries operating in and around the city. One will emphasize the development of technology to promote healthier living, which is of interest to the city's health care institutions and insurance companies. Another theme will focus on ways to make media more interactive?perhaps along the lines of "social TV" or "two-way" programming?that might appeal to the city's more traditional broadcast media companies as well as advertising and marketing firms. The third theme, so-called "smart" technologies, will develop on retrofits for city buildings to make them greener and more energy efficient.

"Each of these three areas brings together technology and non-technology fields such as social science, design, public health and the study of human behavior," Huttenlocher says, adding that, as times change, the NYC Tech curriculum will adapt. "The themes themselves might look different in a few years, but the fundamental approach of the campus will not change."

Cornell wants to initiate classes and labs like those that will be offered at NYC Tech during the 2012?13 school year in rented space in Manhattan. Huttenlocher says they have not yet chosen a location but that the NYC Tech coursework will begin even before Goldwater Memorial is razed and the foundation for the new campus is poured.

Change is nothing new to Roosevelt Island, whose population has swelled to 14,000 in recent years. Native Americans used it as a hunting ground and fishing hole before 17th-century Dutch settlers bought the island to raise hogs. For the past 180 years it has been home to a mental hospital, penitentiary, smallpox hospital, almshouse, nursing school and government rent-subsidized apartment buildings.

The aging Goldwater facilities, which opened in 1939, do not meet NYC Tech's needs for a modern workspace. For example, plans call for the campus to include a solar array that will generate 1.8 megawatts at daily peak and a 400-well geothermal field, which uses the constant temperature of the earth to cool buildings in the summer and heat them in the winter.,

The campus is also expected to include newly constructed classrooms and computer labs as well as open workspaces where students and faculty can design and build projects. Local companies may also have access to some of the space so that mentors can work with students on campus. NYC Tech will also include housing for students and faculty.

View a slide show of the site of New York City's New Cornell High-Tech Campus

Source: http://rss.sciam.com/click.phdo?i=7cfc5ebd342d592a0b21c9bf3aaafa12

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