24
Feb
12

Roundup – Mormon Disco Ball

Line O’ the Day:

“The retarded thing about all of this is that the UFC hired her knowing full well that she had been a Playboy model, and their current poster ring girl, Arianny Celeste, did a Playboy spread with the full blessing of the brass (try not to make a joke trynottomakeajoke…). So if they did fire her (we’ll likely find out in the next couple days), we now know that all that separates UFC poster girl from shameful, unemployable whore is a few centimeters of exposed labia and butthole. And let’s not forget that her job was to hold up numbers while looking good in a bikini and not freak out when the camera man blatantly zoomed in on her ass. I guess the message is, if you’re going to pose nude, you have to pretend to look surprised about it.”

– Vince Mancini, UFC ring girl Chandella Powell’s past as a softcore porn star revealed [FilmDrunk]

Best of the Best:

Santorum Becomes Millionaire in Six Years After U.S. Senate Loss [Heidi Przybyla and Julie Bykowicz on Bloomberg]

Since his 2006 re-election defeat, the former Pennsylvania lawmaker has gone from being one of the poorer members of the U.S. Senate to earning $1.3 million between January 2010 and August 2011. In 2007, he spent $2 million to buy a 5,000-square foot home in Great Falls, Virginia, according to property records. Santorum’s financial rise was powered by consulting contracts with fuel producer Consol Energy Inc. (CNX), faith advocacy group Clapham Group and American Continental Group, a Washington consultancy, as well as media engagements. “If he’s claiming he’s not an insider, this is the thing that insiders do — after public office they cash in,” said Kent Cooper, a campaign finance expert and former Federal Elections Commission assistant staff director.

The Airline That Loses Bags, Cancels Flights [Scott McCartney on The Wall Street Journal]

Southwest Airlines, the only major airline that doesn’t charge fees to check two pieces of luggage, had the second-worst rate of mishandled bags, better than only American. Bags fly free, but they don’t always get there.

Ali And His Entourage [Gary Smith on Sports Illustrated, April 25, 1988]

“But on my tombstone,” he says, “it will say ‘Muhammad Ali’s doctor.’ It’s like being gynecologist to the queen.” In our time, will we see another comet that burns so long and streaks so fast, and whose tail has room for so many riders? “The entourage” some called the unusual collection of passengers who took the ride; the traveling circus, the hangers-on, others called it. “These people are like a little town for Ali,” his manager, Herbert Muhammad, once said. “He is the sheriff, the judge, the mayor and the treasurer.” Most were street people, thrown together on a lonely mountaintop in Pennsylvania where Ali built his training camp, until they burst upon the big cities for his fights. They bickered with each other over who would do what task for Ali, fist-fought with each other at his instigation—two of them once even drew guns. And they hugged and danced with each other, sat for hours talking around the long wooden dinner table, played cards and made midnight raids on the refrigerator together. “That’s right,” said Herbert Muhammad. “A family.”

How Doctors Could Rescue Health Care [Arnold Relman on The New York Review of Books]

In the absence of effective general solutions for these causes of rising costs, there is little chance that the Act will “bend the curve” of medical inflation as Democrats hope. The law does, however, propose to cover the cost of adding millions of beneficiaries to Medicaid and to private plans over ten years. It does this by cutting payments to the private “Medicare Advantage” plans now chosen by some 12 million Medicare beneficiaries, and by eliminating tax exemptions for expensive insurance coverage offered by employers to favored employees. Apart from two ill-conceived and probably unworkable exceptions, the Act offers no other broad initiatives directly aimed at reducing costs.

Alexander: How Great? [Mary Beard on The New York Review of Books]

Dante found a place for “Alexander” (we assume he meant “the Great”) in the Seventh Circle of Hell, screaming in pain, up to his eyebrows in a river of boiling blood, spending eternity alongside such monsters as Attila the Hun and Dionysius the tyrant of Sicily. Many modern writers have followed him. A.B. Bosworth, for example, another doyen among historians of Alexander (who has contributed an appendix—on Alexander’s death, foul play or not?—to the Landmark Arrian), once summarized Alexander’s career bleakly: “He spent much of his time killing and directing killing, and, arguably, killing was what he did best.” And I myself, more flippantly, once described him as a “drunken juvenile thug” whom it was difficult to imagine chosen by any modern country as its national symbol.

The Tweaker: The Real Genius of Steve Jobs [Malcolm Gladwell on The New Yorker]

The point of Meisenzahl and Mokyr’s argument is that this sort of tweaking is essential to progress. James Watt invented the modern steam engine, doubling the efficiency of the engines that had come before. But when the tweakers took over the efficiency of the steam engine swiftly quadrupled. Samuel Crompton was responsible for what Meisenzahl and Mokyr call “arguably the most productive invention” of the industrial revolution. But the key moment, in the history of the mule, came a few years later, when there was a strike of cotton workers. The mill owners were looking for a way to replace the workers with unskilled labor, and needed an automatic mule, which did not need to be controlled by the spinner. Who solved the problem? Not Crompton, an unambitious man who regretted only that public interest would not leave him to his seclusion, so that he might “earn undisturbed the fruits of his ingenuity and perseverance.” It was the tweaker’s tweaker, Richard Roberts, who saved the day, producing a prototype, in 1825, and then an even better solution in 1830. Before long, the number of spindles on a typical mule jumped from four hundred to a thousand. The visionary starts with a clean sheet of paper, and re-imagines the world. The tweaker inherits things as they are, and has to push and pull them toward some more nearly perfect solution. That is not a lesser task.

Mugs in the news: A collection of Chicago-area arrest photos [Chicago Tribune]

Arrest and booking photos are provided by law enforcement officials. Arrest does not imply guilt, and criminal charges are merely accusations. A defendant is presumed innocent unless proven guilty and convicted.

Velvet Underground Sues Warhol Over Banana Design [Don Jeffrey on Bloomberg]

The Andy Warhol Foundation was accused in a lawsuit by The Velvet Underground of infringing the trademark for the banana design on the cover of the rock group’s first album in 1967. The band’s founders, Lou Reed and John Cale, said that the foundation infringed the design by licensing it to third parties, according to the complaint filed yesterday in federal court in Manhattan. The band, which was active from about 1965 to 1972, formed an artistic collaboration with Warhol, who designed the banana illustration for “The Velvet Underground and Nico,” which critics have labeled one of the most influential rock recordings of all time, according to the complaint.

A California City Is Into Tweeting—Chirping, Actually—in a Big Way [John Letzing on The Wall Street Journal]

Mind control isn’t just for the birds. The London Underground plays classical music in some stations to create a more crime-free environment, says a spokeswoman for transport for London. U.K.-based Compound Security Systems Ltd. sells a device to repel loitering teens with a frequency adults can’t hear. It also appears not to bother dogs. Greg Budney, audio curator at the Cornell Lab of Ornithology’s Macaulay Library, a renowned collection of recorded bird song, says he has had requests to use the collection for medical purposes but hasn’t heard of bird song being used to fight crime.

Fed’s image tarnished by newly released documents [Zachary A. Goldfarb on The Washington Post]

[T]he Fed released transcripts of its meetings in 2006, offering a new window into what was on the minds of some of the nation’s top economic and financial thinkers just ahead of the financial crisis and subsequent great recession. The transcripts, which are customarily released after five years, show that Fed leaders, armed with the best economic data available, had little idea of what was looming less than two years off.

Change is Constant: 100 Years of New York Real Estate [Jonathan J. Miller on Matrix on Miller Samuel, Inc.]

Diane Cardwell of the New York Times in her “The Appraisal” (an incredible column name BTW) penned a great piece: In an Earlier Time of Boom and Bust, Rentals Also Gained Favor that originated from my article and zeroed in on the 1920s and 1930s to draw a comparison to the current market. I have the feeling my project is going to morph into something bigger – it’s just too interesting (to me). A few things I learned about the Manhattan market over this period:

  • Douglas Elliman published the first market study in 1927 [heh, heh] not counting other marketing materials written before WWI)
  • Real estate media coverage in the first half of the century was social scene fodder (same as today) but with extensive and excessive personal details presented on tenants, buyers and sellers yet housing prices and rents were rarely presented in public.
  • Manhattan made a rapid transition from single family to luxury apartment rentals and eventually co-ops.
  • Housing prices and rents by mid century weren’t that much different than the beginning of the century.
  • Manhattan’s population peaked at 2.3M around WWI.
  • Wall Street in the 1920’s was seen as the driver of the real estate market.
  • Federal and state credit fixes in the late 1930’s help bail out the housing market.

Why Narcissistic CEOs Kill Their Companies [Eric Jackson via Forbes]

Here’s a summary of what Don found in both studies with his co-author Arijit Chatterjee:

–  In the first study, the authors studied 111 CEOs in the computer and software industries between 1992 and 2004….

– They created a 4 measure index of CEO narcissism which were:

  • The prominence (size) of the CEO’s photo in the annual report
  • CEO prominence (number of mentions) in company press releases
  • CEO’s use of first person singular pronouns in transcripts of public comments to shareholders
  • The gap between the CEO pay (salary, bonus, deferred income, stock grants, and stock options) and the pay of the 2nd highest paid executive

– The study showed that more narcissistic CEOs spent more on advertising as a percentage of their sales, spent more on R&D as a percentage of their sales, ran up costs more (measured as SG&A as percentage of sales), and took on more debt

–  More narcissistic CEOs also tended to do more acquisitions and pay much higher premiums for the companies they bought

– More narcissistic CEOs led companies that had more extreme performance results — sometimes they’d do well and other times they’d do terribly

– They also found more narcissistic CEOs were linked to big performance fluctuations for the companies — for a few years they would do really well but this would usually be followed by several years where they did very poorly

As Treasury Continues to Exit Programs, Opportunities to Enhance Communication on Costs Exist [U.S. Government Accountability Office]

Although Treasury regularly reports on the cost of TARP programs and has enhanced such reporting over time, GAO’s analysis of Treasury press releases about specific programs indicate that information about estimated lifetime costs and income are included only when programs are expected to result in lifetime income. For example, Treasury issued a press release for its bank investment programs, including CPP, and noted that the programs would result in lifetime income, or profit. However, press releases for investments in AIG, a program that is anticipated to result in a lifetime cost to Treasury, did not include program-specific cost information. Although press releases for programs expected to result in a cost to Treasury provide useful transaction information, they exclude lifetime, program-specific cost estimates. Consistently providing greater transparency about cost information for specific TARP programs could help reduce potential misunderstanding of TARP’s results. While Treasury can measure and report direct costs, indirect costs associated with the moral hazard created by the government’s intervention in the private sector are more difficult to measure and assess.

U.S. Attempts to Stem Video Outcry [The Wall Street Journal]

Pentagon officials went to lengths Thursday to avert damage to the U.S. war effort from a video that shows a group of Marines urinating on militants’ corpses.

The True Story Of How A Ferrari Ended Up Buried In Someone’s Yard [Mike Spinelli on Jalopnik]

These photos, taken in February, 1978, show a Dino 246 GT being unearthed from the front yard of a home in Los Angeles. The photos have been making the rounds online for years. But what’s the real story? How’d the Dino wind up underground, and where is it now? In May, 1977, Sandra Ilene West, dressed in her best lace nightgown and seated upright at the wheel of her powder-blue 1964 Ferrari 330 America, was lowered into a concrete mausoleum — just as her last will and testament had instructed.

What the Top 1% of Earners Majored In [Robert Gebeloff and Shaila Dewan on Economix]

Of course, choice of major is not the only way to increase your chances of reaching the 1 percent, if that is your goal. There is also the sector you choose. A separate analysis of census data on occupations showed that one in eight lawyers, for example, are in the 1 percent — unless they work for a Wall Street firm, when their chances increase to one in three. Among chief executives, fewer than one in five rank among the 1 percent, but their chances increase if the company produces medical supplies (one in four) or drugs (two in five). Hollywood writers? One in nine are 1 percenters. Television or radio writers? One in 14. Newspaper writers and editors? One in 62.

How Much of US Consumables Are Made in China? [Federal Reserve Bank of San Francisco via Barry Ritholz on The Big Picture]

Goods and services from China accounted for only 2.7% of U.S. personal consumption expenditures in 2010, of which less than half reflected the actual costs of Chinese imports. The rest went to U.S. businesses and workers transporting, selling, and marketing goods carrying the “Made in China” label. Although the fraction is higher when the imported content of goods made in the United States is considered, Chinese imports still make up only a small share of total U.S. consumer spending.

Sex Safe for Heart Patients Not Having an Extramarital Affair [Nicole Ostrow on Bloomberg]

Most people being treated for heart disease can safely have sex, according to research that also suggests the risk of sudden cardiac death may rise for men when the amorous activity occurs in an extramarital affair…Levine’s research group reviewed more than 100 studies to determine the risks. In autopsy reports of 5,559 cases of sudden death, 0.6 percent occurred during sexual intercourse, they found. Of those who died, 82 percent to 93 percent were men and 75 percent were having extramarital sex, in most cases with a younger partner and after excessive food and alcohol consumption, the report said. The study on the autopsy reports involved “only a very modest number of patients,” and thus “there is no way to know how much, if any, an extramarital affair relationship truly increases risk or the mechanism,” said Levine, who directs the Cardiac Care Unit at the Michael E. DeBakey VA Medical Center.

Iraq: Under Worse Management [Elliot Woods on Bloomberg Businessweek]

Iraqis are overwhelmingly happy that the American troops are gone, and while many blame the U.S. for leaving such a mess behind, they realize their own leaders must now come through. Scant few expressed confidence they would. While many I spoke to wished they could be positive, they were far more anxious than optimistic.

The secrets Apple keeps [Adam Lashinsky on CNNMoney]

For new recruits, keeping secrets begins even before they learn which building they’ll be working in. Many employees are hired into so‑called dummy positions, roles that aren’t explained in detail until after they join the company. “They wouldn’t tell me what it was,” remembered a former engineer who had been a graduate student before joining Apple. “I knew it was related to the iPod, but not what the job was.” Others do know but won’t say, a realization that hits the newbies on their first day of work at new-employee orientation. “You sit down, and you start with the usual roundtable of who is doing what,” recalled Bob Borchers, a product marketing executive in the early days of the iPhone. “And half the folks can’t tell you what they’re doing, because it’s a secret project that they’ve gotten hired for.”

Trials and Errors: Why Science Is Failing Us [Jonah Lehrer via Wired]

This doesn’t mean that nothing can be known or that every causal story is equally problematic. Some explanations clearly work better than others, which is why, thanks largely to improvements in public health, the average lifespan in the developed world continues to increase. (According to the Centers for Disease Control and Prevention, things like clean water and improved sanitation—and not necessarily advances in medical technology—accounted for at least 25 of the more than 30 years added to the lifespan of Americans during the 20th century.) Although our reliance on statistical correlations has strict constraints—which limit modern research—those correlations have still managed to identify many essential risk factors, such as smoking and bad diets. And yet, we must never forget that our causal beliefs are defined by their limitations. For too long, we’ve pretended that the old problem of causality can be cured by our shiny new knowledge. If only we devote more resources to research or dissect the system at a more fundamental level or search for ever more subtle correlations, we can discover how it all works. But a cause is not a fact, and it never will be; the things we can see will always be bracketed by what we cannot. And this is why, even when we know everything about everything, we’ll still be telling stories about why it happened. It’s mystery all the way down.

Making It in America [Adam Davidson on The Atlantic]

We do still make things here, even though many people don’t believe me when I tell them that. Depending on which stats you believe, the United States is either the No. 1 or No. 2 manufacturer in the world (China may have surpassed us in the past year or two). Whatever the country’s current rank, its manufacturing output continues to grow strongly; in the past decade alone, output from American factories, adjusted for inflation, has risen by a third. Yet the success of American manufacturers has come at a cost. Factories have replaced millions of workers with machines. Even if you know the rough outline of this story, looking at the Bureau of Labor Statistics data is still shocking. A historical chart of U.S. manufacturing employment shows steady growth from the end of the Depression until the early 1980s, when the number of jobs drops a little. Then things stay largely flat until about 1999. After that, the numbers simply collapse. In the 10 years ending in 2009, factories shed workers so fast that they erased almost all the gains of the previous 70 years; roughly one out of every three manufacturing jobs—about 6 million in total—disappeared.

The Making Of “Homer At The Bat,” The Episode That Conquered Prime Time 20 Years Ago Tonight [Erik Malinowski via Deadspin]

“Homer at the Bat” was proof you could see baseball in all its silliness and still love the game. Even the stars who were both target and participant in the spoof remember the episode fondly. Ozzie Smith is generally regarded as the greatest defensive shortstop in baseball history. He has played in three World Series, and he’s earned election to the Hall of Fame—and yet he still gets questions from fans about The Simpsons whenever he does a card show or some other event. He can’t escape it, but with no hesitation, he reckons his tumble into the Springfield Mystery Spot to be one of the highlights of his career.

Spring of ’62: Revisiting the Dawn of the Mets [Robert Lipsyte on The New York Times]

Once, acting on a tip that guests at the Colonial Inn, where we were all staying, had complained about African-American ballplayers in the hotel pool, I asked Stengel if that was the reason he barred the Mets from swimming. “Thass right, pool’s off limits,” he growled, pushing his pleated, leathery mug into my face. He also said in a salty way that they could not have sex “all season.” He added, “Now print that.”

The Correlation of Laughter at FOMC Meetings [Kyle Akin on The Daily Stag Hunt]

The number of recorded laughs actually increased in frequency from 2000 to 2006.  In 2001, the FOMC erupted into laughter 16.5 times per meeting on average. In 2003, it was over 19. In 2005, 27.  And then in 2006, the FOMC burst into laughter nearly 44 times per meeting!  And just in case you woke up from a 5-year coma this morning, the Case-Shiller 20-city Home Price Index also peaked in 2006.

It’s a girl: The three deadliest words in the world [Ram Mashru on The Independent]

The UN reports approximately 200 million girls in the world today are ‘missing’. India and China are said to eliminate more female infants than the number of girls born in the US each year. Lianyungang in China has the worst infant gender ratio on record with 163 boys born for every 100 girls. Taiwan, South Korea and Pakistan are also countries in which unwanted female babies are aborted, killed or abandoned. Gendercide in South Asia takes many forms: baby girls are killed or abandoned if not aborted as foetuses. Girls that are not killed often suffer malnutrition and medical neglect as sons are favoured when shelter, medicine and food are scarce…The brutal irony of femicide is that it is an evil perpetrated against girls by women. The most insidious force is often the mother in law, the domestic matriarch, under whose authority the daughter in law lives. Policy efforts to halt infanticide have been directed at mothers, who are often victims themselves. The trailer shows tragic scenes of women having to decide between killing their daughters and their own well-being. In India women who fail to produce sons are beaten, raped or killed so that men can remarry in the hope of procuring a more productive wife.

Americans Anti-Big Business, Big Gov’t [Frank Newport on Gallup Politics]

Republicans in particular are displeased with the size and power of the federal government, with 16% satisfied and 84% dissatisfied. Democrats are more positive about the federal government, but hardly overwhelmingly so, with 49% satisfied and 47% dissatisfied. The politically crucial group of independents is slightly more negative than the national average. Democrats, as would be expected, are disproportionately displeased with the size and influence of major corporations, with 71% dissatisfied and 23% satisfied. Republicans break even in their views of major corporations, with 48% satisfied and the same percentage dissatisfied. Independents — as was the case in their views of the federal government — are slightly more negative than the national average.

The Man Who Bought North Dakota: How wildcatter Harold Hamm became the biggest winner in the biggest American oil find since Prudhoe Bay [Bryan Gruley on Bloomberg Businessweek]

By the late 1980s, Hamm had survived two oil busts, a big lawsuit with Occidental Petroleum (OXY), and the drilling of 17 straight dry holes that cost him more than $10 million. Chastened by the busts, other companies were shifting to natural gas. Hamm stubbornly dispatched his geologists to find fresh crude. They researched well logs, production records, and geologic studies in Wyoming and North Dakota. The question wasn’t whether these regions held oil, but whether it could be extracted at a reasonable profit. “We were looking for higher-risk, higher-potential plays that hadn’t had every rock turned over,” Hamm recalls.

Curiously Strong Remains:

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