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Cited: MSNBC

Web sites around the world went dark for a day to protest anti-piracy bills being sponsored in the U.S. Congress and in the Senate. And with the blackout came thousands of calls to the lawmakers, emails, and protests outside of their offices, causing many of them to reconsider their support for this legislation. Among those that were supporters but not any longer are Sen. Marco Rubio of Florida, who by the way was also a co-sponsor of the legislation in the Senate, Sen. Orrin Hatch, Rep. Roy Blount, and a host of other policymakers that are now beginning to melt from the heat of the controversy started by their controversial laws.

Understating the obvious was Speaker of the House, John Boehner, who said that it was clear to many of those in Washington that they hadn’t completely understood the complexity of the issue and that there wasn’t any consensus on the proper course forward. The bill was first passed in the Senate Judiciary Committee and from that point until yesterday’s blackout by some of the most popular Web sites on the Web, Washington lawmakers have been hearing it from their constituents and

industry insiders, and from the owner of these sites, who have asked them to consider the ramifications of a set of laws that many of them had not read and not fully comprehended.

Of greatest concern to many of the owner of these Web sites is that these laws would give federal authorities the right to shut down Internet sites like Google and Facebook without due process, and in doing so completely alter the Internet as a platform for the free expression of ideas and information.

My take:

I’d bet that half of the lawmakers that signed the bill hadn’t even read it in the first place. Piracy on the Internet is a problem and does have to be dealt with but there has to be a limit to government power to close Web sites. It would almost be like giving the federal government the authority to shut down a newspaper, or radio station.

Cited: CNN

When an unexpected earthquake shook the east coast in August of 2011, one of the many buildings and structures to get jostled beyond their capacity to hold on was the Washington Monument. Though not toppled or even close, god forbid, the national monument did sustain substantial damage and as such has been closed to visitors since. The repair of the iconic structure has gotten a recent boost with an extremely wealthy donor contributing over $7.5 million to help to get the monument back on its feet, so to say.

David Rubenstein, founder of the Carlyle Group, and now patron of the Washington Monument,  said that he wanted to give something back to the country, to repay a debt he feels for how good America has been to him. Rubenstein’s announcement came today in a ceremony at the foot of the monument, where he added that he doesn’t want to be buried with his wealth, which was he was able to amass because of the United States and all that it stand for. He also noted that he comes from a modest background and that his wealth is something he wants to share with others in a meaningful way.

With the contribution now from David Rubenstein, as well as funds approved by Congress late in 2011, Secretary of the Interior David Hayes says that his department now has all the necessary funding to being repairs on the structure. Hayes is hopeful that work on the Washington Monument can begin late this summer or early in the fall. The project is scheduled to take approximately one year.

My take:

It is nice to see people like Mr. Rubenstein coming to the forefront and assisting with these sort of projects. It is a tribute to him and his legacy and hopefully generations to come will be able to appreciate this national monument and to pay tribute to Mr. Rubenstein for his part in restoring it to its former grandeur.

Cited: MSNBC

Small businesses are often said to be the heart of the economy. For one thing, most of the hiring nationwide comes from these firms and these days, with unemployment hovering at 8.5% and arguably the biggest issue in the upcoming 2012 Presidential election, its easy to understand that any good news coming from this sector of the economy is bound to have a big ripple effect.

In the month of December, it was reported today, small business owners nationwide had a higher level of confidence in business conditions at their shops and for their expectations going forward. As was reported by the National Federation of Independent Business, confidence at small American businesses grew by 1.8 points to 93.8. The survey by the NFIB takes into account 10 different components and in the month of December 2011, eight of the 10 were either higher or unchanged. And of considerable note by the NFIB survey, most of the rosy outlook came in the area of expectations looking six months into the future.

Before anyone gets too carried away by the positive data, economists are quick to point out that the overall index is still mired in recessionary territory, so it will take additional information and positive sentiment on the part of small business owners before there is real room to believe that the worst is behind. The index now sits six points below the pre-recession average and more than ten points below the same point in the recovery from the 2001 recession. So while the index is still not above water, it is at a level where a few months of positive news will go a long way toward bringing this widely watched report into the black.

My take:

This is very good news because small business owners don’t pull any punches and they aren’t about to say that things are getting better if they aren’t. I’d expect that along with other positive data, they will be willing to increase their staff and really provide the boost that everyone expects from this market segment.

Cited: CNN

Maksim Gelman, age 24, was sentenced to 25 years to life for each of the four murders that he was found guilty of committing in 2011. Gelman also received the maximum penalty allowed by law for other crimes he committed during a twenty-four hour crime and killing spree that he went on in 2011. The other crimes included two counts of attempted murder, two counts of first degree and second degree robbery, and second degree assault.

Gelman’s night of terror started in Brooklyn and ended in NYC when he stabbed and killed a NYC subway passenger. His rampage took him from  Kings County to NYC and started by his stabbing and killing his stepfather over an argument about using his stepmother’s car. He then went on to kill a female friend and her mother after which Gelman stole a car and raced away from the crime scene. In his haste to get away from the scene of the crime, Gelman ran down an eldery man who was killed on impact. Besides those that he fatally stabbed, Gelman also was found guilty of slashing two other unsuspecting individuals that were doing nothing more than waiting for a subway train.

Gelam was arrested on February 12, just one day after committing his crimes, in Times Square. The convicted killer will now serve each sentence consecutively, 200 years, and it is likely that he will never be a free man again. He still is awaiting his sentence for the attempted murder conviction also handed down as part of his list of crimes.

My take:

Throw him in and throw away the key. This guy was obviously wound tighter than a Swiss watch so it was probably just a powder keg waiting to explode. You have to feel for all of the innocent people that got in his way and just hope that his long sentence will give their families some solace and closure.

Cited: CNN

The number of abortions performed around the world fell last year, however, the number of unsafe abortions rose. The rate for abortions in 2008 was about 28 for every 1000 women, which is down from figures near 35 per thousand and 29 per thousand just a few years ago. The number of abortions considered to be unsafe during the same period increased to 49% in 2008, from 44% previously.

In a study conducted by The Lancet, most of the abortions worldwide are taking place in the developing world, up to 78% in previous surveys and now as high as 86%. And as might be expected, the number of unsafe abortions in these countries is also on the rise. The Lancet describes an unsafe abortion as one that is performed by a person lacking the necessary medical training and in an unsafe environment that does not meet minimum medical standards.

The data leaves many health experts concerned about the trend in unsafe abortions and has them wondering how and why these numbers are increasing and of course, what to do about them. The news is especially troubling considering that groups such as the World Health Organization (WHO) has been promoting and implementing policies to reduce the number of abortions as are many national governments. But they fear that stigmatizing and condemning and especially criminalizing abortions and those who choose to have an abortion could be underlying the increase seen in the unsafe abortions taking place worldwide. Some see it as setback to the times when pregnant women would seek out unqualified people in the worst of environments to get an abortion for fear of being exposed and ostracized. 

Experts warn that the number of abortions will remain at high levels as will the number of unsafe abortions if modern contraception is not more readily available to developing countries and if family planning services do not make deeper inroads into these countries.

My take:

It sounds like women are being driven from the clinic to the backrooms again because of the mass movement by certain groups to have abortion and access to abortion services dramatically reduced worldwide. In many countries, their corrupt leaders receive aid as long as they go along with extremist policies from their backers to ban abortions and other family planning services in their countries.

Cited: MSNBC

Weekly jobless claims, now a widely watched economic indicator, fell to their lowest level in more than four years last week, as reported by the Labor Department. The promising data was well-received by the market with many economists hopeful that the job market is indeed improving and that these figures are evidence of growing employment in the U.S. For the week, the Labor Department reported that jobless claims fell by 50,000 in the week ending January 14, to 352,000 from a revised level of 402,000 the week prior. Economists were looking for claims to come in closer to 385,000 so the news made for some happy faces on Wall Street and Main St.

In looking for trends, economists will more often look to moving averages, which smooth out the data for onetime fluctuations, and even when looking at the 4-week moving average for jobless claims, the news is good with a drop of 3.500 to an average of 379,000 from the previous week at 382,500.

Most are expressing cautious optimism following the jobs report because there are also season factors at work here on the back of the holiday season when many people are hired back to work, only to be back on the unemployment lines a few short weeks after holidays are over. But, even taking these season factors into account, there is reason to be hopeful that the employment picture is getting more clear and for those looking for work, perhaps its getting a bit easier to find a job. With over 13 million Americans still unemployed and the overall unemployment rate still stuck near 8.5%, it will take a lot more reports like today’s before there’s any significant drop in the unemployment rate.

Other areas of positive news for the economy today came from the inflation data at the consumer level or the CPI, which was flat for the second straight month in December.

My take:

Just another example that things do take time and all of the claims that the Obama Administration is killing the economy may very well just be biased bluster and over time will look more and more like the partisan politics that it really is. Things might not be moving quickly enough, but they are moving for sure. I am hopeful that the data in the coming weeks will support the notion that the economy is pulling out of the ditch.

Cited: Google News

Both Democrats and Republicans are getting set for a battle over education reform as part of their platforms going into the 2012 election. VP Joseph Biden, on a recent trip to a high school in Columbus, Ohio, stressed the importance of higher education in an address to the students and faculty. He said that the Obama Administration is doing all that it can to help in forming and advancing education in the United States and they they will continue to be at the forefront of this battle going forward. He said that they are committed to making sure that every family can send their children to college if they so choose.

On the other side of the aisle, Republican front-runner, Mitt Romney has campaigned on increasing the standards that students have to meet while also advocating reform at the teacher level with stronger and stricter evaluations mandated throughout schools in the U.S. However, a significant point of departure for the two camps comes in who, or what is in charge of education policy and legislation. While the Democrats have long held that the federal government has a significant role to play in laying out education standards, the Republicans feel that this is the role of the state government with many of the Republican candidates for the Presidency advocating getting rid of the federal Department of Education as a Cabinet level post.

Secretary of Education Duncan said that the Obama Administration has dramatically simplified many of the bureaucratic nightmares that had previously been preventing any progress on education reform such as the Free Application for Federal Student Aid or FASA, while at the same time creating Pay-As-You-Earn, which caps loan repayments to a maximum of 10% of what you earn.

My take:

Education will continue to be little more than a political shuttlecock with both sides paying little more than lip service to the problem until there is a real crisis. Right now, money will be the only concern of both sides of the aisle and issues that either put money into their pockets or the corporations that support them.

Cited: CNN

You often hear people quip that certain mega-corporations such as Exxon, are worth more than many small countries. Those countries are usually from the developing world and the remarks are generally a boast about the size of the company and a bit of condescending commentary on the backwardness of the country. These days the corporations are bigger and so are the countries that they dwarf. For a brief time today, shares of Apple rose to levels that put the total worth of the technology giant above $400 billion, a lofty perch from which they are able to gaze down on the total output, and worth of Australia, Greece, Argentina, and South Africa, to name just a handful. Only Exxon Mobil at approximately $420 billion is larger than Apple, and the sovereigns below.

Generally when a company grows to this capacity it is hard to get much bigger much faster but such is not the case with Apple. Later this week they will report finances for the prior year and analysts expect that the report will show that the company grew by 45% over the last year, an astounding growth spurt for a company of its size.  Apple is now in its 35th year of operation and just 10 years ago only had a market cap of $10 billion.

The iPod is probably the Apple devise that was the catalyst for huge growth of the company while the iPhone hitting the market in 2007 added another retro-rocket boost to sales, and the reputation of Apple as being the most innovative technology company serving the retail market consumer. And not the kind of company to sit around counting their money, Apple announced today that they will undertake three new initiatives to transform the textbook – among them the ability to create and publish searchable, updatable, and interactive e-textbooks for the iPad.

My take:

The news with Apple goes from incredible to more incredible to what comes next. After so many years of floundering before the iPod and the iPhone, it looks like there is no stopping this technology giant. I must admit that I love all of their products and I’m generally surprised that they don’t actually cost more money considering all that they can do.