BP readers correctly pointed out to the change in the Goldman Sachs Commodity Index (GSCI) (Here, here and of course, here). Tim Iacono did a nice job on the details the following month.
That mid-year halving of the gasoline weighting caught quite a few people by surprise. The timing — slashing energy futures weightings 2 months before the mid-term elections — was stunning to say the least. The GSCI changes had wide ranging impacts, leading (indirectly at the very least) to: Amaranth’s implosion, a drop in CPI / inflation rates, the market rally since the July lows, and of course, GS’s record setting Q3/Q4 profits (Hey, its nice to be the House).
Monthly Archives: January 2007
Interesting Art
Drawing on top of Coffee…. More here, including an interesting exhibit at the Musee d’Orsay.
The Death of General Interest Magazines?
Of course, there are those who would argue that in a society that seems to have no general interest (other than, say, Paris Hilton and the Super Bowl) there is no room or need for a general interest magazine. But Mr. Stengel said he will not be imprisoned by the tyranny of big numbers in making changes at Time.
“I think it is a false choice to say that something that is mass has to be dumbed-down.” he said. “We want to be accessible, but we want our readers to know that we understand they are smart.”
Detroit Auto Show Coverage
There’s no shortage of images, words and links regarding this weekend’s Detroit Auto Show, with GM’s Volt the most interesting announcement:
- The UK’s excellent CAR Magazine
- Autoweek
- NY Times | Wheels Blog
- Automobile
- Wall Street Journal Autoshow Blog
Travel Scenes
A remnant of Kinky Friedman’s 2006 run for Texas Governor. Perhaps there is hope for more than our current corrupt two party system.
Nice Machu Picchu Photo
Hype & the Denver International Airport
I heard the hype while living in Denver nearly 20 years ago. $2.5 billion (turned into $5 billion) was necessary to avoid all of the current airport’s problems during snowstorms. Mayer Federico Pena lead the charge with his reward coming later – the highway to the new airport (DIA) is named “Pena Boulevard”.
Mike Boyd tells the “rest of the story” in the Grinch Comes Clean:
“All Weather Airport? Oh, That Was Just ‘Hype’…” …Along With Most Of The Other Stuff DIA PromisThis Christmas, it wasn’t just chestnuts that got roasted on an open fire.
Denver’s “all-weather” airport, the one that was built to unclog the Western skies, the one that was going to be the glorious technological beacon for all future airports, got roasted big-time in the national media. Justifiably.Denver International got cooked on something called “the truth.”
For almost two days before Christmas, the airport was shut down due to snow. At most times of the year, and at most other airports, this would have been not much more than a page three human interest story, with interviews of passengers stranded like refugees in a big terminal, being asked really deep questions, like, “How long have you been standing in line?” or “When do you think you’ll get home?” Or, “Gee, you gotta lot of luggage there.” Anything to fill a 90-second piece that’s been done dozens of times before.
A Semi Self Defense of Enron
I also have a minor challenge for aficionados of the Enron case.
Years ago, when I was at the Washington Post, one of my colleagues on the science desk—Bill Booth—called up a dozen or so Nobel Laureates in physics and asked them to explain, in plain language, the nature and significance of the Higgs Boson atomic particle. None of them could. This was at a time, mind you, when the physics community was arguing passionately for the construction of a multi-billion dollar particle accelerator to look for things like the Higgs Boson. So it wasn’t for lack of interest. They were gung-ho for nailing the Higgs Boson. They just couldn’t explain the Higgs Boson.
Can anyone explain—in plain language—what it is Jeff Skilling and Co. did wrong?
TSA’s Latest: Sponsored X-Ray Bins
The US Transportation Security Administration (TSA) is launching a one-year pilot programme to allow companies to place advertisements in bins at passenger screening checkpoints at “select” US airports in return for equipment donations.
The effort follows a 3-month test programme at Los Angeles International Airport (LAX) security checkpoints that started in July.
TSA is looking for commercial advertising companies who will team with an airport to provide divestiture bins (the plastic bins used to transport passenger carry-on items through the X-ray machine); divestiture and composure tables; and bin return carts free-of-charge to the TSA. In return, the companies will be allowed to place airport-approved ads “on the bottom of the inside of the bins,” says a TSA spokeswoman. Airports partnered with ad companies will ultimately be required to screen the materials for “offensive, obtrusive, political or controversial” content, she adds.
Not a bad idea, actually. How about a free bottle of water with the ad?
Airships
