November 15, 2012 archive

Nov 15

Today on The Stars Hollow Gazette

Our regular featured content-

And these featured articles-

Write more and often.  This is an Open Thread.

The Stars Hollow Gazette

Nov 15

Details of BP Criminal Settlement Released

Over the last day or so it has been widely rumored that British Petroleum has reached a settlement on criminal charges for the 2010 Deepwater Horizon Disaster in which at least 11 people lost their lives on the rig alone and spilled over 4.5 Million Barrels of Oil and uncounted amounts of toxic chemicals into the Gulf of Mexico.

BP to Admit Crimes and Pay $4.5 Billion in Gulf Settlement

By JULIA WERDIGIER, The New York Times

Published: November 15, 2012

Even with a settlement on the criminal claims, BP would still be subject to other claims, including federal civil claims and claims for damages to natural resources.

In particular, this settlement does not include what is potentially the largest penalty: fines under the Clean Water Act. The potential fine for the spill under the Clean Water Act is $1,100 to $4,300 per barrel spilled. That means the fine could be as much as $21 billion, according to Peter Hutton of RBC Capital Markets in London.

Sources say at least 2 employees will be charged with manslaughter.

BP settlement not the final word in spill story

By Steve Hargreaves @CNNMoney

November 15, 2012: 12:56 PM ET

NEW YORK (CNNMoney) — BP announced Thursday it settled criminal charges with the U.S. government over the 2010 Deepwater Horizon oil spill for $4.5 billion. But that won’t resolve some of the biggest liabilities still facing the company.

Chief among them is the penalty that could come out of the Clean Water Act — a potential civil fine for spilling the oil itself.

If things go the company’s way, that fine could be somewhere between $3.5 billion and $5 billion, said Jason Gammel, an analyst at Maquarie Securities Group in London.

But if BP is found guilty of gross negligence in the spill, the penalty could more than quadruple to roughly $20 billion — dwarfing today’s settlement.

The government has accused BP of gross negligence in the spill. A civil trial is set for February, and could drag on for years.

BP’s $7.8 Billion settlement with victims in the uncapped class action has yet to be approved by courts.

Nov 15

Cartnoon

Bugs Bunny will not ride again.  This next one was originally posted August 10, 2011

Bewitched Bunny

Nov 15

On This Day In History November 16

Cross posted from The Stars Hollow Gazette

This is your morning Open Thread. Pour your favorite beverage and review the past and comment on the future.

Find the past “On This Day in History” here.

November 16 is the 320th day of the year (321st in leap years) in the Gregorian calendar. There are 45 days remaining until the end of the year.

On this day in 1959, the musical, “The Sound of Music” opened on Broadway.

Did the young Austrian nun named Maria really take to the hills surrounding Salzburg to sing spontaneously of her love of music? Did she comfort herself with thoughts of copper kettles, and did she swoon to her future husband’s song about an alpine flower while the creeping menace of Nazism spread across central Europe? No, the real-life Maria von Trapp did none of those things. She was indeed a former nun, and she did indeed marry Count Georg von Trapp and become stepmother to his large brood of children, but nearly all of the particulars she related in her 1949 book, The Story of the Trapp Family Singers, were ignored by the creators of the Broadway musical her memoir inspired. And while the liberties taken by the show’s writers, Howard Lindsay and Russel Crouse, and by its composer and lyricist, Richard Rodgers and Oscar Hammerstein II, caused some consternation to the real Maria von Trapp and to her stepchildren, according to many later reports, those liberties made The Sound of Music a smash success from the very night of its Broadway opening on this day in 1959.

The Sound of Music opened on Broadway at the Lunt-Fontanne Theatre on November 16, 1959, moved to the Mark Hellinger Theatre on November 6, 1962 and closed on June 15, 1963 after 1,443 performances. The director was Vincent J. Donehue, and the choreographer was Joe Layton. The original cast included Mary Martin (at age 46) as Maria, Theodore Bikel as Captain Georg von Trapp, Patricia Neway as Mother Abbess, Kurt Kasznar as Max Detweiler, Marion Marlowe as Elsa Schraeder, Brian Davies as Rolf and Lauri Peters as Liesl. Soprano June Card was one of the ensemble members in the original production. The show tied for the Tony Award for Best Musical with Fiorello!. Other awards included Martin for Best Actress in a Musical, Neway for Best Featured Actress, Best Scenic Design (Oliver Smith) and Best Musical Direction (Frederick Dvonch). Bikel and Kaznar were nominated for acting awards, and Donehue was nominated for his direction. The entire children’s cast was nominated for Best Featured Actress category as a single nominee, even though two children were boys.

The Sound of Music was the final musical written by Rodgers and Hammerstein; Hammerstein died of cancer nine months after the Broadway premiere.

Rebecca Luker leads the 1998 Broadway revival cast in a performance of ‘Climb Every Mountain,’ ‘Do Re Mi’ and ‘The Sound of Music’ at the Tony Awards.

Nov 15

On This Day In History November 15

Cross posted from The Stars Hollow Gazette

This is your morning Open Thread. Pour your favorite beverage and review the past and comment on the future.

November 15 is the 319th day of the year (320th in leap years) in the Gregorian calendar. There are 46 days remaining until the end of the year.

On this day in 1867, On this day in 1867, the first stock ticker is unveiled in New York City. The advent of the ticker ultimately revolutionized the stock market by making up-to-the-minute prices available to investors around the country. Prior to this development, information from the New York Stock Exchange, which has been around since 1792, traveled by mail or messenger.

The ticker was the brainchild of Edward Calahan, who configured a telegraph machine to print stock quotes on streams of paper tape (the same paper tape later used in ticker-tape parades). The ticker, which caught on quickly with investors, got its name from the sound its type wheel made.

Calahan worked for the Gold & Stock Telegraph Company, which rented its tickers to brokerage houses and regional exchanges for a fee and then transmitted the latest gold and stock prices to all its machines at the same time. In 1869, Thomas Edison, a former telegraph operator, patented an improved, easier-to-use version of Calahan’s ticker. Edison’s ticker was his first lucrative invention and, through the manufacture and sale of stock tickers and other telegraphic devices, he made enough money to open his own lab in Menlo Park, New Jersey, where he developed the light bulb and phonograph, among other transformative inventions.

Stock tickers in various buildings were connected using technology based on the then-recently invented telegraph machines, with the advantage that the output was readable text, instead of the dots and dashes of Morse code. The machines printed a series of ticker symbols (usually shortened forms of a company’s name), followed by brief information about the price of that company’s stock; the thin strip of paper they were printed on was called ticker tape. As with all these terms, the word ticker comes from the distinct tapping (or ticking) noise the machines made while printing. Pulses on the telegraph line made a letter wheel turn step by step until the right letter or symbol was reached and then printed. A typical 32 symbol letter wheel had to turn on average 15 steps until the next letter could be printed resulting in a very slow printing speed of 1 letter per second. In 1883, ticker transmitter keyboards resembled the keyboard of a piano with black keys indicating letters and the white keys indicating numbers and fractions, corresponding to two rotating type wheels in the connected ticker tape printers.

Newer and more efficient tickers became available in the 1930s and 1960s but the physical ticker tape phase was quickly coming to a close being followed by the electronic phase. These newer and better tickers still had an approximate 15 to 20 minute delay. Stock ticker machines became obsolete in the 1960s, replaced by computer networks; none have been manufactured for use for decades. However, working reproductions of at least one model are now being manufactured for museums and collectors. It was not until 1996 that a ticker type electronic device was produced that could operate in true real time.

Simulated ticker displays, named after the original machines, still exist as part of the display of television news channels and on some World Wide Web pages-see news ticker. One of the most famous displays is the simulated ticker located at One Times Square in New York City.

Ticker tapes then and now contain generally the same information. The ticker symbol is a unique set of characters used to identify the company. The shares traded is the volume for the trade being quoted. Price traded refers to the price per share of a particular trade. Change direction is a visual cue showing whether the stock is trading higher or lower than the previous trade, hence the terms downtick and uptick. Change amount refers to the difference in price from the previous day’s closing. These are reflected in the modern style tickers that we see every day. Many today include color to indicate whether a stock is trading higher than the previous day’s (green), lower than previous (red), or has remained unchanged (blue or white).

Nov 15

Muse in the Morning

Photo Sharing and Video Hosting at Photobucket
Muse in the Morning


Tweak 2

Nov 15

Late Night Karaoke

Nov 15

The Myth of the “Fiscal Cliff”

Cross posted from The Stars Hollow Gazette

No one actually cares about the deficit

Chris Hayes, host of [Up with Chris Hayes ],  discusses the stand-off between President Obama and House Republicans over the “fiscal cliff,” the name given to the combination of the expiration of the Bush tax cuts and the sequestration cuts mandated by last year’s debt ceiling agreement. Chris’ “filibuster” in the first segment is a “Cliff Note” summation of the debate about the so-called “fiscal cliff.”

Chris is joined for a comprehensive, and somewhat wonky, discussion with Hakeem Jeffries, newly elected Congressman representing the 8th Congressional District in Brooklyn, New York State Assemblyman; Teresa Ghilarducci (@tghilarducci), labor economist and director of the Schwartz Center for Economic Policy Analysis at The New Schoo; Edward Conard, former partner at Bain Capital from 1993-2007 and author of “Unintended Consequences: Why Everything You’ve Been Told About The Economy Is Wrong;” Ohio Democratic Senator Sherrod Brown; and Molly Ball (@mollyesque), national political reporter for The Atlantic.

I found this article  about the debt/deficit/”fiscal cliff” from letdgetitdone quite interesting. It presents a very compelling argument, point by point, why this entire discussion about a “fiscal cliff” is a myth. He concludes his argument:

So, current claims that we have a fiscal crisis, must debate the debt, must fix the debt, and must immediately embark on a long-term deficit reduction program to bring the debt-to-GDP ratio under control, all misconceive the fiscal situation because they are based on the idea that fiscal responsibility is about developing a plan to bring the debt-to-GDP ratio “under control,” when it is really about using Government spending to achieve outputs that fulfill “public purpose.” There is no fiscal crisis that will require “a Grand Bargain” and cuts to popular discretionary spending and entitlement programs. It is a phoney issue.

The only real crisis is a crisis of a failing economy and growing economic inequality in which only the needs of the few are served. MMT policies can help to bring an end to that crisis; but not if progressives, and others continue to believe in false ideas about fiscal sustainability and responsibility, and the similarity of their Government to a household. To begin to solve our problems, we need to reject the neoliberal narrative and embrace the MMT narrative about the meaning of fiscal responsibility. That will lead us to fiscal policies that achieve public purpose and away from policies that prolong economic stagnation and the ravages of austerity.

Nov 15

When Will the Recovery Reach the Poor?

Cross posted from The Stars Hollow Gazette

On his show AC 360┬░, host Anderson Cooper interviewed Sophie Delaunay, the executive Director of Doctors Without Borders, on the organizations efforts to aid victims of Hurricane Sandy, especially in the Rockaways.

“We learned our lessons from Katrina when we thought the medical needs would be covered, and when we realized there were gaps it was too late for us to react,” says Sophie Delaunay.

She tells Anderson the most challenging place right now is the Rockaways in Queens where people who need help are homebound in high-rise apartment buildings and have had little contact with the outside world since they lost their electricity. The group is helping with a variety of needs, but 60% of the consultations are to assist with prescription refills.

NYCHA head tells tenants who are still without power that they’ll get a credit for their troubles – in January

by Greg B. Smith at New York Daily News

Calls it a ‘nice little Christmas present’ but has no answers for residents still struggling two weeks after Hurricane Sandy

Public tenants without heat, hot water and power for weeks will still have cough up their full rent before getting a credit in January – a refund that NYCHA Chairman John Rhea called “a nice little Christmas present.”

Rhea made the Scrooge-esque comment Monday when he showed up at the Red Hook Houses in Brooklyn, where tenants have lived in deplorable conditions since Hurricane Sandy hit Oct. 29.

He told one tenant, “Hang in there.” [..]

When Rhea showed up in Red Hook Monday, 4,015 residents there were still without heat and hot water and 2,125 were without power. Twenty-two of the project’s 32 buildings were either without heat and hot water or power. [..]

As of Monday, 4,400 NYCHA tenants in Red Hook, Coney Island and Far Rockaway, Queens, were still without power, while 18,000 residents in 14 developments in Brooklyn, Queens and Manhattan still had no hot water or heat.

NYCHA turned off elevators, hot water and heat two days before the storm hit in 26 low-lying developments near waterfronts and ordered tenants to evacuate.

Occupy Sandy Volunteer Sounds Alarm on ‘Humanitarian Crisis,’ Near-Complete Absence of Government Aid in Coney Island Projects

by Daniel Marans at Huffington Post

The situation in public housing projects in Coney Island, Brooklyn remains a “humanitarian crisis” in which the government and the Red Cross have been nearly completely absent, according to Eric Moed, a volunteer aid worker with Occupy Sandy. [..]

The projects in Coney Island remain without power, and often without water and necessities in the wake of Hurricane Sandy. Accounts of these conditions have been corroborated in the New York Daily News.

Moed says all of the supermarkets on Coney Island have been flooded or looted.

The result is what Moed describes as a “humanitarian crisis.” Sick or older people may be vulnerable to death without heat, or food and water.

Moed routinely meets elderly residents who have been trapped alone in their dark, cold apartments since the storm hit. The elevators often do not work, and residents willing to brave the stairwells face darkness, human waste, and even crime. [..]

Whatever response there has been from the government — city, state, or federal — or the Red Cross, Moed says their presence in and around the Coney Island projects is non-existent, inadequate, or counterproductive. FEMA has set up a solitary aid trailer on what Moed calls the “sexy area” of Coney Island — near the famous amusement park and Nathan’s — which was not hit very hard. It awaits people seeking help, when those who most need it are stranded in high-rise buildings a few blocks away.

Moed insists that he does not assume anything about the government and Red Cross’s lack of a response, but says their absence is indisputable. “They’re literally not there. It’s not a criticism, it’s literally a fact,” he said. “I’ve been on the ground here for four days. I’ve seen zero FEMA people. Occasionally a Red Cross truck will come through with hot meals. But there’ll be one truck for 15-20 buildings.” [..]

The absence of government or Red Cross presence has left a vacuum of authority and accountability at a time when stranded residents are seeking it most. “The projects have had nobody to talk to,” Moed says. “People literally have no power, no food, no water, no bathrooms–they’re defecating in buckets. And there is no one to answer to for it.” For lack of a higher-level city government presence, presidents of public housing blocks with few resources have been left to address residents’ grievances. [..]

To donate to the Sandy relief effort, visit OccupySandy.org

Nov 15

My Little Town 20121114: When Dad Blew off His Leg

Those of you that read this regular series know that I am from Hackett, Arkansas, just a mile or so from the Oklahoma border, and just about 10 miles south of the Arkansas River.  It was a rural sort of place that did not particularly appreciate education, and just zoom onto my previous posts to understand a bit about it.

This actually occurred after the former Mrs. Translator and I had married and moved away, but it still is quite a story.  Dad was an avid hunter, mainly upland birds, bobwhite quail in particular.  Our traditional Christmas breakfast, after the gifts were opened, was fried quail, biscuits, gravy, and grits.  Dad always fried the quail and my mum did everything else.

In western Arkansas there were lots of quail except in the rare year that was either really bad as far as the weather goes or if a disease outbreak had occurred.  In my 20 years of living at home and decades afterwards, there were always quail for Christmas breakfast.  In scarce years Dad would freeze enough to assure that there were plenty for Christmas morning.

Dad, in addition to being a deadeye shot, was also a gunsmith.  He also had impressive woodworking skills and often would buy gunstock blanks of fine American black walnut and create his own gunstocks.