links for 2009-09-08

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Wall Street Whackos

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Fec links to an article in NYT that you really have to read to believe.  In essence it says that the wizards of Wall Street have hit on a new securitization scheme: bundle life insurance policies so that people can sell the payout of their life insurance policies and then the banks collect them after they croak.  Seriously.

Check this out:

The bankers plan to buy “life settlements,” life insurance policies that ill and elderly people sell for cash — $400,000 for a $1 million policy, say, depending on the life expectancy of the insured person. Then they plan to “securitize” these policies, in Wall Street jargon, by packaging hundreds or thousands together into bonds. They will then resell those bonds to investors, like big pension funds, who will receive the payouts when people with the insurance die.

The earlier the policyholder dies, the bigger the return — though if people live longer than expected, investors could get poor returns or even lose money.

Either way, Wall Street would profit by pocketing sizable fees for creating the bonds, reselling them and subsequently trading them. But some who have studied life settlements warn that insurers might have to raise premiums in the short term if they end up having to pay out more death claims than they had anticipated.

This is seriously twisted.

Apparently Everything is Stupid

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I'm not exactly sure when it happened, but at some point in recent memory a couple of children I happen to know very, very well came to the conclusion that everything in this world is, I quote, "stupid."  Seriously, you can't talk about anything around them without them saying something like, "Yeah dinner was good, but yesterday at lunch Billy Bob said <fill in the blank>, and, you know, it was soo stuuupid." 

Essentially the tactic seems to be:

  1. Identify something, anything, in the current conversation that can somehow be tangentially related to a conversation or observation that contained something easily identified as stupid.  Preferably that conversation or observation should involve a person who everyone just knows is stupid, but if that isn't an option then an episode of Family Guy is an acceptable substitute.  
  2. Relate said conversation or observation in a style that takes twice as long as it needs to and contains approximately 42 uses of the word "like" and about half as many uses of the words "you know."
  3. When parents or other adults don't reply with an appropriate level of laughter and instead look at you like, you know, you're stupid, simply think of another instance of recent stupidity and relate that one.
  4. When the adult points out why something may not be stupid then look at the adult with an expression that says "In the near future you're going to be the subject of a stupid story." 

This really kind of bothered me until I remembered that they are 16 (almost 17) and 15 (almost 16), and that every human at that age seems to be possessed of incredible certitude without an ounce of wisdom. 

links for 2009-09-04

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  • Winston-Salem Journal: HAWS Hires Project Planner
    "The Housing Authority of Winston-Salem hopes to overhaul 130 acres in the northeastern part of the city under a new public-housing plan being considered by Congress.

    The housing authority's board of commissioners decided yesterday to sign a contract with an architecture and planning company that will help the authority create a "master plan" for the overhaul"

    (tags: winston-salem realestate apartment)

  • Yes! Weekly: A Mayor for All Seasons

    Yes! Weekly's profile of Winston-Salem's mayor.

    (tags: winston-salem politics)

  • Cuban: What's the Difference Between YouTube Today and Broadcast Networks?

    "I dont think there is any question that the Youtube model is better. Now that they have stopped hiding behind the Digital Millenium Copyright Act, Youtube has taken the very smart step of letting content “audition” for the right to sign a license for Youtube to send it traffic and sell advertising around it.

    Anyone can post content on Youtube. If that content generates enough interest (even if its interest that is artificially created by the content production company), Youtube will offer it a license that allows Youtube to sell advertising around the content and share that revenue with the content creator (Without a license,Youtube is not allowed to sell advertising around the content. By the DMCA, they are not allowed to even know it exists. Youtube acts only as a host). It really is win win."

    (tags: media mediaincome)

links for 2009-09-03

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  • Lex: Irredeemable; or, “What’s the recourse if you make a mistake?”
    Lex provides the conditions necessary to him for the death penalty to stand: "If it ever can be shown that the state has wrongfully executed an innocent person even though a fair exculpatory case existed before the execution, then we also should put to death the prosecutor and judge in the case. If a parole board ever commits the kind of dereliction of duty displayed in Willingham’s case with the result that an innocent person is executed, the board members who voted for execution should be put to death. If a governor can be shown to have denied clemency to an innocent prisoner even in the face of exculpatory evidence, as Texas Gov. Rick Perry appears to have done, the governor should be put to death.

    Then and only then, my friends, will we know that the accused is guilty beyond a reasonable doubt."

    (tags: society)

  • Triad Biz Journal: U.S. worker productivity hits six-year high

    "Workers are more productive, but employee earnings are falling, according to a closely-watched report released Wednesday." File this under least surprising business news of the decade. Fear of loss of job/starvation is a powerful motivator.

    (tags: economics productivity)

  • Open Forum: A Good Business Move: Joining Associations

    "The next time you write that yearly check to renew those memberships within your industry’s organizations, think about their value in two parts: What are you willing to put into the membership, and what do you want in return?"

    (tags: association)

  • Dana Milbank – Washington Sketch: A Hero Named Bill Cahir Dies in …

    "On Saturday, millions watched as Ted Kennedy made his final trip to Arlington National Cemetery. With rather less attention, Arlington's soil opened again Monday to accept the remains of one of Kennedy's former aides, 40-year-old Bill Cahir."

    (tags: war)

  • Triad Biz Journal: FDIC chief sees commercial mortgage threat

    "The chairman of the Federal Deposit Insurance Corp. warned Tuesday that more banks could be put out of business in the next year because of commercial mortgage problems."

    (tags: commercialrealestate commercialloans)

Why Background Checks are Kind of Important

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Here's a story that every HR person should keep in mind when they're hiring.  One of the Domino's employees who made the nasty video that got so much attention earlier this year has just been kicked out of her community college because she's a registered sex offender.  The manager who hired this woman might want to look into changing his/her hiring practices. 

links for 2009-09-02

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  • Ellen Naylor: Will Associations Go the Way of Print Media?
    I had the opportunity to work with Ellen Naylor during my time with SCIP and found her to be one of the most insightful and fun people to work with in the SCIP member community. She makes some good points about the association business in her post, the most important of which is that association execs need to be attuned to the changes being wrought on their "business" by the evolution of social media.
    (tags: association)

Helping Mrs. C’s Class

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A friend of ours teaches special needs children in a high poverty school here in Winston-Salem.  She's signed up on DonorsChoose.org to raise a couple of hundred dollars for some equipment she needs for her class.  Here's the description:

"I teach middle school students with moderate intellectual cognitive disabilities, mild physical disabilities and/or mild to moderate autistic tendencies. My 30 students are unable to read grade leveled materials but LOVE to read. My program's number one goal is to get my students to become readers and writers and most importantly to LOVE SCHOOL!

We graduated to middle school but all of our technology was left behind!!! I moved up to the middle school with my students, however, with budget cuts there is no money for my "new classroom". During their elementary years, my students had daily access to specialized computer programs, adaptive hardware and the opportunity to learn computer applications in a small group setting. This year, we have are not so lucky. My goal is to have my students write, edit and publish self created books weekly. Due to the numerous physical and cognitive limitations of my students, they need to write books at a pre-K level and read books presented in a variety of formats, ranging from paper to computer. I am in need of materials to save and print student created PowerPoint books. Some of my students are capable of paper copies, however, others will need to read their books on their home computers and will need a way of "bringing home" their published work. Once home, my students will be able to share their love of books with their families.

I am in need of paper, computer ink, book binding combs and several thumb drives. With these materials, my students will be able to participate in a weekly literacy lesson which will produce a book that is not only accessible, but interesting and appropriate for all of my students with moderate cognitive delays.

MY STUDENTS NEED YOU!! With your support, you will give my students access to the world of literature.

My students need two reams of paper, computer ink, book binding combs, and four memory sticks. The cost of this proposal is $256, which includes shipping for any materials requested and fulfillment ."

You can contribute here. 

Winston-Salem Curse?

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Is it just me or does anyone else feel like the downtown Winston-Salem baseball stadium might be cursed?  Much as the Red Sox suffered through generations of the Babe's Curse I fear that Winston-Salem may have to suffer through years of the Bane of Billy.  I say this because it seems like even good news related to the stadium comes with issues and according to the mayor there's lawyers to blame:

Winston-Salem's mayor blames paperwork for holding up the downtown stadium loan.

Mayor Allen Joines tells WFMY News 2 that there are 22 laywers working on more than 100 documents to secure the loan.

He says the problem is trying to get them all to agree on the language.

At this rate we might have baseball downtown by opening day 2015.

links for 2009-08-31

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  • Shell: "Hey man, pull your pants up."
    This has to be a first in the annals of politics in the Triad. GSO City Council At-Large Candidate Ryan Shell was canvassing when he came across a guy running from, and who was eventually tazed by the police. Later he interviewed the guy and as they guy's walking away Ryan tells him to pull up his britches.
    (tags: greensboro politics)
  • AVC: Consumer Centric Health Care
    "The benefit of a consumer centric health care system is we all would start paying attention to what all of this costs and negotiating ourselves for better prices and/or shopping around. That never happens except in the cases where the procedures aren't covered. And Goldhill makes a compelling argument that uncovered procedures have shown the benefit of a competitive market at work:"
    (tags: healthcare healthinsurance)