BOSTON (Reuters) - Research in Motion's resistance to giving governments access to its BlackBerry network misses a major point -- authorities could probably hack the data on their own if they want it badly enough, security experts say.
Indeed, a major attack against BlackBerry users by a telecom in the United Arab Emirates employed that very tactic a year ago, according to RIM. Experts say other malicious programs are likely to be lurking around, readying to be sprung.....
I highly suggest you read the whole article via the link below. It is fascinating and a bit scary that a major corporation deliberately sent malware to it's customers? Who was behind this one?
http://www.reuters.com/article/idUSTRE6745L820100805
Thursday, August 5, 2010
Monday, August 2, 2010
Manufacturing still expanding
Strong rise in the global equity markets today. As reported in the NY Times, manufacturing has rose again for the 12 straight month. While at a slower pace, still a good sign. The report indicated that manufacturers are willing to hire, which in many peoples opinion, is the most necessary thing for the economy to continue the recovery. It is very hard to spend when you don't have a job. I have first hand experience with that now and truly understand the problem.
It is good to see that manufacturing in the US is growing, in spite of the trend to find low cost producers oversees. I am not sure what this really means when you look at the numbers in detail, but on the surface it implies more competitiveness. Something to continue looking at.
The article indicates that there is still weakness in the housing market. Isn't that a good thing. With all the overbuilding that occurred during the housing boom due to the sub prime mess, you would think that stabilizing and perhaps decreasing the housing supply is what is needed.
Referenced article here http://www.nytimes.com/2010/08/03/business/economy/03econ.html
It is good to see that manufacturing in the US is growing, in spite of the trend to find low cost producers oversees. I am not sure what this really means when you look at the numbers in detail, but on the surface it implies more competitiveness. Something to continue looking at.
The article indicates that there is still weakness in the housing market. Isn't that a good thing. With all the overbuilding that occurred during the housing boom due to the sub prime mess, you would think that stabilizing and perhaps decreasing the housing supply is what is needed.
Referenced article here http://www.nytimes.com/2010/08/03/business/economy/03econ.html
Sunday, August 1, 2010
Slowing growth in Chinese Manufacturing - WSJ (08/01/10)
BEIJING—China's manufacturing activity expanded at the slowest pace in 17 months in July, an official gauge showed Sunday, reflecting that tightening measures introduced earlier this year and growing uncertainty over global demand continued to weigh on the country's economic expansion.
China's official PMI, issued by the China Federation of Logistics and Purchasing and the National Bureau of Statistics, fell to 51.2 in July from 52.1 in June, the third straight month in which it has declined. The reading was also closer to the expansionary threshold of 50 than it had been in 17 months. A reading below 50 signals contraction.
Also, in a statement issued Sunday after a meeting to plan second-half economic policy, China's central bank said it would continue to implement the current "moderately loose" monetary policy while keeping a close eye on changes in the domestic and international situation, including the European debt crisis and monetary policies of major economies. China's economic policy will need to be "flexible" and "forward-looking," the central bank said.
Last week, the People's Bank of China had struck a confident note, saying the country's current economic slowdown is beneficial for long-term sustainable growth, and there is little risk of a "double-dip" recession.
Sundays' statement added to that view, signaling that the PBOC is unlikely to increase interest rates in the second half of the year, said Ting Lu, China economist of Bank of America Merrill Lynch.
Economists said the decline in the widely watched purchasing managers' index also makes Beijing unlikely to take on any new aggressive tightening measures later this year as inflation pressures are expected to ease further.
"The Chinese economy is slowing down due mainly to the ongoing property tightening measures, but the slowdown is clearly not as dire as some expected. We don't think the current situation warrants an all-out fight to rescue growth," said Mr. Lu.
With the outlook for developed economies increasingly murky, investors, executives and officials are closely watching indications of how China's economy will perform, because it has been the one consistent engine of growth in recent years. China's economy is widely expected to surpass Japan's this year as the world's second largest behind the U.S. based on market exchange rates. It came in slightly behind Japan last year.
In an interview published Friday, Yi Gang, a vice governor of People's Bank of China, mentioned briefly that "China actually is already the world's second largest economy." But it wasn't clear what Mr. Yi based the statement on, and neither he nor the central bank elaborated.
China has long been larger than Japan based on purchasing-power parity measures of their economies, but PPP isn't nearly as widely used to rank economies as market exchange-rate comparisons. A decisive reading showing China surpassing Japan in annual gross domestic product isn't likely until early next year, although it's possible China's economy will be larger than Japan's during this year on a quarterly basis.
Despite the economic slowdown, the PBOC will keep continuity and stability of the monetary policy and won't change the annual credit target of new yuan loans of 7.5 trillion yuan ($1.12 trillion) for 2010 while strictly implementing tight credit policies in buying property that were adopted earlier this year, according to a statement posted on the PBOC website.
The PMI data showed that China's new export orders grew last month from June but the growth slowed, while imports declined in July from June, signalling that exports and imports will continue to post lower annual growth in the coming months.
The new export-orders subindex in the PMI slipped to 51.2 in July from 51.7 in June and the imports subindex dropped to 49.3 from 50.4. China's customs is due to release July trade data Aug. 10.
Meanwhile, inflationary pressures likely continued to weaken last month as the input-prices subindex fell to 50.4 in July from 51.3 in June.
—Liu Li contributed to this article.
China's official PMI, issued by the China Federation of Logistics and Purchasing and the National Bureau of Statistics, fell to 51.2 in July from 52.1 in June, the third straight month in which it has declined. The reading was also closer to the expansionary threshold of 50 than it had been in 17 months. A reading below 50 signals contraction.
Also, in a statement issued Sunday after a meeting to plan second-half economic policy, China's central bank said it would continue to implement the current "moderately loose" monetary policy while keeping a close eye on changes in the domestic and international situation, including the European debt crisis and monetary policies of major economies. China's economic policy will need to be "flexible" and "forward-looking," the central bank said.
Last week, the People's Bank of China had struck a confident note, saying the country's current economic slowdown is beneficial for long-term sustainable growth, and there is little risk of a "double-dip" recession.
Sundays' statement added to that view, signaling that the PBOC is unlikely to increase interest rates in the second half of the year, said Ting Lu, China economist of Bank of America Merrill Lynch.
Economists said the decline in the widely watched purchasing managers' index also makes Beijing unlikely to take on any new aggressive tightening measures later this year as inflation pressures are expected to ease further.
"The Chinese economy is slowing down due mainly to the ongoing property tightening measures, but the slowdown is clearly not as dire as some expected. We don't think the current situation warrants an all-out fight to rescue growth," said Mr. Lu.
With the outlook for developed economies increasingly murky, investors, executives and officials are closely watching indications of how China's economy will perform, because it has been the one consistent engine of growth in recent years. China's economy is widely expected to surpass Japan's this year as the world's second largest behind the U.S. based on market exchange rates. It came in slightly behind Japan last year.
In an interview published Friday, Yi Gang, a vice governor of People's Bank of China, mentioned briefly that "China actually is already the world's second largest economy." But it wasn't clear what Mr. Yi based the statement on, and neither he nor the central bank elaborated.
China has long been larger than Japan based on purchasing-power parity measures of their economies, but PPP isn't nearly as widely used to rank economies as market exchange-rate comparisons. A decisive reading showing China surpassing Japan in annual gross domestic product isn't likely until early next year, although it's possible China's economy will be larger than Japan's during this year on a quarterly basis.
Despite the economic slowdown, the PBOC will keep continuity and stability of the monetary policy and won't change the annual credit target of new yuan loans of 7.5 trillion yuan ($1.12 trillion) for 2010 while strictly implementing tight credit policies in buying property that were adopted earlier this year, according to a statement posted on the PBOC website.
The PMI data showed that China's new export orders grew last month from June but the growth slowed, while imports declined in July from June, signalling that exports and imports will continue to post lower annual growth in the coming months.
The new export-orders subindex in the PMI slipped to 51.2 in July from 51.7 in June and the imports subindex dropped to 49.3 from 50.4. China's customs is due to release July trade data Aug. 10.
Meanwhile, inflationary pressures likely continued to weaken last month as the input-prices subindex fell to 50.4 in July from 51.3 in June.
—Liu Li contributed to this article.
Thursday, July 29, 2010
National Adversity Index - from Moody's published on MSNBC
Interactive: Adversity Index
The Adversity Index measures employment, industrial production, housing starts and home prices for 381 U.S. metro areas and all 50 states
The Adversity Index, from msnbc.com and Moody's Economy.com, measures the economic health of 381 metro areas and all 50 states. Each area is in recession, at risk, recovering or expanding. On this map you can explore changes in the four components of the index: employment, housing starts, housing prices and industrial production, each shown as a percentage change from a year earlier. (The change in housing prices will be updated at the end of the quarter.) Roll over a state to see its numbers. Click on a state to see details for its metro areas. Slide left or right to see data for different months. Click play to see all the months. Use the forward and back buttons to step a month at a time.
You definitely have to click the link and draw your own conclusions:
http://www.msnbc.msn.com/id/29976394/ns/business-stocks_and_economy
The Adversity Index measures employment, industrial production, housing starts and home prices for 381 U.S. metro areas and all 50 states
The Adversity Index, from msnbc.com and Moody's Economy.com, measures the economic health of 381 metro areas and all 50 states. Each area is in recession, at risk, recovering or expanding. On this map you can explore changes in the four components of the index: employment, housing starts, housing prices and industrial production, each shown as a percentage change from a year earlier. (The change in housing prices will be updated at the end of the quarter.) Roll over a state to see its numbers. Click on a state to see details for its metro areas. Slide left or right to see data for different months. Click play to see all the months. Use the forward and back buttons to step a month at a time.
You definitely have to click the link and draw your own conclusions:
http://www.msnbc.msn.com/id/29976394/ns/business-stocks_and_economy
Arizona immigration law 2010: As SB1070 takes effect, Mexicans say 'Adios, Arizona'
Article in the Christian Science Monitor this morning discusses the impact of a new immigration law in Arizona that takes effect today. The Mexico government is beefing up relief shelters in Sonora to help Mexican citizens that are being either deported back or voluntarily returning to Mexico. The article implies that the number of Mexican citizens that are voluntarily returning to Mexico is higher than what has been seen in the past. Apparently this law has more teeth. It appears that the strategy that many of these illegal aliens are taking is to return to Mexico and return to another US state that has weaker immigration policies.
While I appreciate that our country has been built off the backs of immigrants, states in the southwest certainly can't afford the public cost of supporting these people. I encourage regulation to keep this influx in check and it seems that whatever Arizona is doing should be looked at as a national policy.
the full article here:
http://www.csmonitor.com/World/Americas/2010/0729/Arizona-immigration-law-2010-As-SB1070-takes-effect-Mexicans-say-Adios-Arizona
Wednesday, July 28, 2010
Electric Car Stocks making move in 2010
Is there a viable business model for electric cars? Yet? I sometimes wish the U.S. would really consider the Dannish 'tax and subsidize' model. Could it work here? Based on Tesla stock performance to date, it seems doubtful that EV can make it on it's own.
BALTIMORE (Stockpickr) -- Despite its parent company's financial failings in the last decade, Chevrolet's press conference yesterday announcing pricing on its new Volt electric vehicle reminded America that the auto industry still stands to impress with innovation. The Volt is arguably the most anticipated EV in history, offering to bring zero-emissions and electric efficiency to the mass market.
In yesterday's announcement, Chevrolet announced that the Volt would be base priced at $41,000, before a $7,500 tax credit that brings the cost down to $33,500. The company also plans on making a lease option available for $350 per month. But while GM's offering is the most tangible mass-market electric car out there right now, there's more to the EV market than just the Volt. Here's a look at a handful of electric car stocks that could make moves in 2010.
Rest of article here.
http://www.thestreet.com/story/10819622/1/electric-car-stocks-making-moves-in-2010.html?cm_ven=GOOGLEFI
BALTIMORE (Stockpickr) -- Despite its parent company's financial failings in the last decade, Chevrolet's press conference yesterday announcing pricing on its new Volt electric vehicle reminded America that the auto industry still stands to impress with innovation. The Volt is arguably the most anticipated EV in history, offering to bring zero-emissions and electric efficiency to the mass market.
In yesterday's announcement, Chevrolet announced that the Volt would be base priced at $41,000, before a $7,500 tax credit that brings the cost down to $33,500. The company also plans on making a lease option available for $350 per month. But while GM's offering is the most tangible mass-market electric car out there right now, there's more to the EV market than just the Volt. Here's a look at a handful of electric car stocks that could make moves in 2010.
Rest of article here.
http://www.thestreet.com/story/10819622/1/electric-car-stocks-making-moves-in-2010.html?cm_ven=GOOGLEFI
Teams and Leaders
I usually write in this blog things that interest me in the news, my industry, or other random thoughts. Today is a post about an important observation about my last job.
It has been a week or so since ITP has shut it's doors. I have been doing my part to help our team find a home and continue the great work they have done so far. It is such a nice thing to see in the business world a situation where a team is created that does truly remarkable things. Even if things don't work out exactly as planned.
Thousands of books have been written about teams and leadership. I am sure I will not cover any new ground. But it is sometimes good to reflect on a real life situation you have experienced and relate it what you have read.
Great teams can do anything. The ITP team was excellent at developing and operating financial software. The team has good leadership, strong technical standards, a passion for excellence, and the commitment to deliver. The team has the mix of skills, personalities, strengths, and weaknesses that compliment and inspire. Its members have a respect for each other. It members often fight with each other over things they are passionate about. All in the pursuit of excellence. But it never becomes personal. At the end of the day, it is a lunch, a beer, or a hallway conversation, that brings the spirit of the team back together, with no animosity, and often times generates good feelings that the pain they may have felt has made them stronger, closer, and more sure of themselves and their teammates that they can truly do wonderful things.
Great teams have a way of looking at the strengths and weaknesses of its members. Truly appreciating what each brings to the team, and often times overlooking and neutralizing the inevitable weaknesses. This I find to be most incredible. It seems to me that this characteristic is so much motivated by self and team preservation. The recognition of of the universal truth of human nature.. there is good and bad in all of us and that great teams, made up of average people, are willing to adapt in ways that take the best in spite of the worst.
How many teams have we seen that broke apart? Mostly because of ego and selfish reasons, I would suspect.
Great teams go beyond business obviously. Baseball, marriages, music groups, religious affiliations. What are the essential ingredients? A few that come to mind.
It sounds like a formula, and that anyone can put together a great team. Maybe great leaders are defined as those that can inspire and build great teams. Maybe they have the subtle skill to recognize talent and the necessary mix of it to succeed; the ability to manage diverse personalities; can inspire; not afraid to reprimand, and provide the courage to lead through the inevitable challenges that lie ahead. They have the vision of why the team exists and what truly is their mission. And can articulate it day in and day out.
Great teams are such a special and elusive thing. And often times, you may not even know you are part of one.
It has been a week or so since ITP has shut it's doors. I have been doing my part to help our team find a home and continue the great work they have done so far. It is such a nice thing to see in the business world a situation where a team is created that does truly remarkable things. Even if things don't work out exactly as planned.
Thousands of books have been written about teams and leadership. I am sure I will not cover any new ground. But it is sometimes good to reflect on a real life situation you have experienced and relate it what you have read.
Great teams can do anything. The ITP team was excellent at developing and operating financial software. The team has good leadership, strong technical standards, a passion for excellence, and the commitment to deliver. The team has the mix of skills, personalities, strengths, and weaknesses that compliment and inspire. Its members have a respect for each other. It members often fight with each other over things they are passionate about. All in the pursuit of excellence. But it never becomes personal. At the end of the day, it is a lunch, a beer, or a hallway conversation, that brings the spirit of the team back together, with no animosity, and often times generates good feelings that the pain they may have felt has made them stronger, closer, and more sure of themselves and their teammates that they can truly do wonderful things.
Great teams have a way of looking at the strengths and weaknesses of its members. Truly appreciating what each brings to the team, and often times overlooking and neutralizing the inevitable weaknesses. This I find to be most incredible. It seems to me that this characteristic is so much motivated by self and team preservation. The recognition of of the universal truth of human nature.. there is good and bad in all of us and that great teams, made up of average people, are willing to adapt in ways that take the best in spite of the worst.
How many teams have we seen that broke apart? Mostly because of ego and selfish reasons, I would suspect.
Great teams go beyond business obviously. Baseball, marriages, music groups, religious affiliations. What are the essential ingredients? A few that come to mind.
- Respect for each other
- Respect for yourself
- Commitment to the cause
- Each member plays a necessary role, and does it with competence
- Leaders and members, with the roles understood, accepted, and sometimes challenged.
- Diversity in thought, talent, and temperament
It sounds like a formula, and that anyone can put together a great team. Maybe great leaders are defined as those that can inspire and build great teams. Maybe they have the subtle skill to recognize talent and the necessary mix of it to succeed; the ability to manage diverse personalities; can inspire; not afraid to reprimand, and provide the courage to lead through the inevitable challenges that lie ahead. They have the vision of why the team exists and what truly is their mission. And can articulate it day in and day out.
Great teams are such a special and elusive thing. And often times, you may not even know you are part of one.
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