Daily Archive: November 15, 2013

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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).

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The Cost of War for Soldiers

Cross posted from The Stars Hollow Gazette

In a three part interview that appropriately began on Veterans’ Day, journalist, author and photographer discussed her latest book They Were Soldiers: How the Wounded Return From America’s Wars-The Untold Story with Jaisal Noor, the Real News Network producer.



Transcript can be read here



Transcript can be read here



Transcript can be read here

They Didn’t Know What They Were Getting Into: The Cost of War American-Style

by Ann Jones, TomDispatch

   The last time I saw American soldiers in Afghanistan, they were silent. Knocked out by gunfire and explosions that left them grievously injured, as well as drugs administered by medics in the field, they were carried from medevac helicopters into a base hospital to be plugged into machines that would measure how much life they had left to save. They were bloody.  They were missing pieces of themselves. They were quiet.

   It’s that silence I remember from the time I spent in trauma hospitals among the wounded and the dying and the dead. It was almost as if they had fled their own bodies, abandoning that bloodied flesh upon the gurneys to surgeons ready to have a go at salvation. Later, sometimes much later, they might return to inhabit whatever the doctors had managed to salvage.  They might take up those bodies or what was left of them and make them walk again, or run, or even ski.  They might dress themselves, get a job, or conceive a child. But what I remember is the first days when they were swept up and dropped into the hospital so deathly still.

   They were so unlike themselves. Or rather, unlike the American soldiers I had first seen in that country. Then, fired up by 9/11, they moved with the aggressive confidence of men high on their macho training and their own advance publicity.

Raising the Minimum Wage Growing Momentum

Cross posted from the Stars Hollow Gazette

The push for an increase in the minimum wage has grown with the recent passing of an increase in New Jersey from $7.25 to 8.25 with annual increases based in inflation. The amendment to the state’s constitution passed with 61% of the vote over newly reelected Governor Chris Christie’s objection. A Gallup poll conducted Nov. 5-6 shows that an even greater percentage of Americans would vote for an even higher minimum wage. According to a White House official, the Obama administration supports the bill introduced by Sen. Tom Harkin (D-IA) and and Rep. George Miller (D-CA) to raise the federal minimum wage from $7.25 an hour to $10.10 an hour in increments of 95 cents.

The same Gallup poll that showed 76% of Americans support for the increase, also showed support across party lines with 58% of self-identified Republicans supporting it. So what’s the problem? The issue is congress’ feral children, the Tea Party coalition in both houses who have vowed to block it and would completely abolish the minimum wage if they had their way. These are the same extremists who would repeal child labor laws, as well.

Despite the objections of the radical minority, the wave for an increase of the minimum wage is swelling as RJ Eskow observes:

There’s something happening here/what it is ain’t exactly clear …”

When Steve Stills wrote the dystopian anthem “For What It’s Worth” in 1966, it resonated with listeners who understood that great if half-hidden transformations were underway. There’s been a turn toward the dystopian in recent economic and social trends as well: Wall Street greed and criminality. The growing power of wealth over the political process. The rise of the Tea Party. The collapsing middle class. Growing inequalities of wealth. Lost social mobility.

But there were encouraging signs in 1966, as well as troubling ones, and that’s equally true today. Take the movement for a minimum wage. Voters in the state of New Jersey and the city of Tacoma, Washington voted to increase the minimum wage in last week’s election. These victories follow a series of polls which confirm that the general public holds strongly progressive views on issues which range from taxation to Medicare and Social Security.

Something is happening here.

Noam Scheiber, senior editor for The New Republic, spoke with Rachel Maddow about why economic populism is a wise strategy for Democrats.