Archive for the ‘Uncategorized’ Category

Campaign To Help Increase The Taxes On The Super Rich Gains Momentum

Sunday, June 24th, 2007

The Campaign to increase the taxes paid by the Super-Rich and Wealthy Hedge Fund and Private Equity Managers got some serious backing and a massive boost on Friday with the endorsement of leading Congressional Democrats on Friday
Charles Rangel, House Ways and Means Chairman and Barney Frank, Financial Services Chairman joined a dozen lawmakers co-sponsoring legislation that would require managers of certain private partnerships to pay ordinary income-tax rates of as much as 35% on “carried interest” — a cut of profits they receive — which currently is taxed at the 15% long-term capital-gains rate.

More info: http://online.wsj.com/article/SB118255424973845346.html?mod=home_whats_news_us

Check also American Air Freight , American Autoquote and Travel Galicia

$3.2 Billion Rescue Package Prevents Largest Hedge Fund Collapse For Years

Saturday, June 23rd, 2007

Up to $3.2 billion in loans yesterday was pledged by the investment bank Bear Stearns Companies to help prevent the imminent collapse of on of the Hedge Funds it managed.

The potential crisis came about through apparent poor lending decisions and bad bets on sub prime mortgages.

This would appear to have been the biggest rescue of a Hedge Fund since a consortium of lenders provided $3.6 billion to help stave off the collapse of Long Term Capital Management in 1998.

This problem arose basically because of a deteriorating housing market in the United States and a mixture of poor decisions brought about through bad management and greed.

Blackstone Opens At 18% Premium At $36.45

Friday, June 22nd, 2007

On its first day of trading on the New York Stock Exchange (Friday 22nd June 2007), Blackstone Group opened at $36.45 a share which in effect was a 18% premium over its IPO price of $31.

For more information about this: http://online.wsj.com/article/SB118252107097944849.html?mod=djemalert

Check also American Air Freight , American Autoquote and Travel Galicia

Dow Jones Board Takes Over Talks On Future Of Company

Thursday, June 21st, 2007

Dow Jones Board Takes Over Talks on Future of Company
By SARAH ELLISON

Dow Jones

Google Keeps Tweaking Its Search Engine

Wednesday, June 20th, 2007

Google Keeps Tweaking Its Search Engine
By SAUL HANSELL

THESE days, Google seems to be doing everything, everywhere. It takes pictures of your house from outer space, copies rare Sanskrit books in India, charms its way onto Madison Avenue, picks fights with Hollywood and tries to undercut Microsoft’s software dominance.

But at its core, Google remains a search engine. And its search pages, blue hyperlinks set against a bland, white background, have made it the most visited, most profitable and arguably the most powerful company on the Internet. Google is the homework helper, navigator and yellow pages for half a billion users, able to find the most improbable needles in the world’s largest haystack of information in just the blink of an eye.

Yet however easy it is to wax poetic about the modern-day miracle of Google, the site is also among the world’s biggest teases. Millions of times a day, users click away from Google, disappointed that they couldn’t find the hotel, the recipe or the background of that hot guy. Google often finds what users want, but it doesn’t always.

That’s why Amit Singhal and hundreds of other Google engineers are constantly tweaking the company’s search engine in an elusive quest to close the gap between often and always.

Mr. Singhal is the master of what Google calls its “ranking algorithm” — the formulas that decide which Web pages best answer each user’s question. It is a crucial part of Google’s inner sanctum, a department called “search quality” that the company treats like a state secret. Google rarely allows outsiders to visit the unit, and it has been cautious about allowing Mr. Singhal to speak with the news media about the magical, mathematical brew inside the millions of black boxes that power its search engine.

Google values Mr. Singhal and his team so highly for the most basic of competitive reasons. It believes that its ability to decrease the number of times it leaves searchers disappointed is crucial to fending off ever fiercer attacks from the likes of Yahoo and Microsoft and preserving the tidy advertising gold mine that search represents.

“The fundamental value created by Google is the ranking,” says John Battelle, the chief executive of Federated Media, a blog ad network, and author of “The Search,” a book about Google.

Online stores, he notes, find that a quarter to a half of their visitors, and most of their new customers, come from search engines. And media sites are discovering that many people are ignoring their home pages — where ad rates are typically highest — and using Google to jump to the specific pages they want.

“Google has become the lifeblood of the Internet,” Mr. Battelle says. “You have to be in it.”

Users, of course, don’t see the science and the artistry that makes Google’s black boxes hum, but the search-quality team makes about a half-dozen major and minor changes a week to the vast nest of mathematical formulas that power the search engine.

These formulas have grown better at reading the minds of users to interpret a very short query. Are the users looking for a job, a purchase or a fact? The formulas can tell that people who type “apples” are likely to be thinking about fruit, while those who type “Apple” are mulling computers or iPods. They can even compensate for vaguely worded queries or outright mistakes.

“Search over the last few years has moved from ‘Give me what I typed’ to ‘Give me what I want,’ ” says Mr. Singhal, a 39-year-old native of India who joined Google in 2000 and is now a Google Fellow, the designation the company reserves for its elite engineers.

Google recently allowed a reporter from The New York Times to spend a day with Mr. Singhal and others in the search-quality team, observing some internal meetings and talking to several top engineers. There were many questions that Google wouldn’t answer. But the engineers still explained more than they ever have before in the news media about how their search system works.

As Google constantly fine-tunes its search engine, one challenge it faces is sheer scale. It is now the most popular Web site in the world, offering its services in 112 languages, indexing tens of billons of Web pages and handling hundreds of millions of queries a day.

Even more daunting, many of those pages are shams created by hucksters trying to lure Web surfers to their sites filled with ads, pornography or financial scams. At the same time, users have come to expect that Google can sift through all that data and find what they are seeking, with just a few words as clues.

“Expectations are higher now,” said Udi Manber, who oversees Google’s entire search-quality group. “When search first started, if you searched for something and you found it, it was a miracle. Now, if you don’t get exactly what you want in the first three results, something is wrong.”

Google’s approach to search reflects its unconventional management practices. It has hundreds of engineers, including leading experts in search lured from academia, loosely organized and working on projects that interest them. But when it comes to the search engine — which has many thousands of interlocking equations — it has to double-check the engineers’ independent work with objective, quantitative rigor to ensure that new formulas don’t do more harm than good.

As always, tweaking and quality control involve a balancing act. “You make a change, and it affects some queries positively and others negatively,” Mr. Manber says. “You can’t only launch things that are 100 percent positive.”

THE epicenter of Google’s frantic quest for perfect links is Building 43 in the heart of the company’s headquarters here, known as the Googleplex. In a nod to the space-travel fascination of Larry Page, the Google co-founder, a full-scale replica of SpaceShipOne, the first privately financed spacecraft, dominates the building’s lobby. The spaceship is also a tangible reminder that despite its pedestrian uses — finding the dry cleaner’s address or checking out a prospective boyfriend — what Google does is akin to rocket science.

At the top of a bright chartreuse staircase in Building 43 is the office that Mr. Singhal shares with three other top engineers. It is littered with plastic light sabers, foam swords and Nerf guns. A big white board near Mr. Singhal’s desk is scrawled with graphs, queries and bits of multicolored mathematical algorithms. Complaints from users about searches gone awry are also scrawled on the board.

Any of Google’s 10,000 employees can use its “Buganizer” system to report a search problem, and about 100 times a day they do — listing Mr. Singhal as the person responsible to squash them.

“Someone brings a query that is broken to Amit, and he treasures it and cherishes it and tries to figure out how to fix the algorithm,” says Matt Cutts, one of Mr. Singhal’s officemates and the head of Google’s efforts to fight Web spam, the term for advertising-filled pages that somehow keep maneuvering to the top of search listings.

Some complaints involve simple flaws that need to be fixed right away. Recently, a search for “French Revolution” returned too many sites about the recent French presidential election campaign — in which candidates opined on various policy revolutions — rather than the ouster of King Louis XVI. A search-engine tweak gave more weight to pages with phrases like “French Revolution” rather than pages that simply had both words.

At other times, complaints highlight more complex problems. In 2005, Bill Brougher, a Google product manager, complained that typing the phrase “teak patio Palo Alto” didn’t return a local store called the Teak Patio.

So Mr. Singhal fired up one of Google’s prized and closely guarded internal programs, called Debug, which shows how its computers evaluate each query and each Web page. He discovered that Theteakpatio.com did not show up because Google’s formulas were not giving enough importance to links from other sites about Palo Alto.

It was also a clue to a bigger problem. Finding local businesses is important to users, but Google often has to rely on only a handful of sites for clues about which businesses are best. Within two months of Mr. Brougher’s complaint, Mr. Singhal’s group had written a new mathematical formula to handle queries for hometown shops.

But Mr. Singhal often doesn’t rush to fix everything he hears about, because each change can affect the rankings of many sites. “You can’t just react on the first complaint,” he says. “You let things simmer.”

So he monitors complaints on his white board, prioritizing them if they keep coming back. For much of the second half of last year, one of the recurring items was “freshness.”

Freshness, which describes how many recently created or changed pages are included in a search result, is at the center of a constant debate in search: Is it better to provide new information or to display pages that have stood the test of time and are more likely to be of higher quality? Until now, Google has preferred pages old enough to attract others to link to them.

But last year, Mr. Singhal started to worry that Google’s balance was off. When the company introduced its new stock quotation service, a search for “Google Finance” couldn’t find it. After monitoring similar problems, he assembled a team of three engineers to figure out what to do about them.

Earlier this spring, he brought his squad’s findings to Mr. Manber’s weekly gathering of top search-quality engineers who review major projects. At the meeting, a dozen people sat around a large table, another dozen sprawled on red couches, and two more beamed in from New York via video conference, their images projected on a large screen. Most were men, and many were tapping away on laptops. One of the New Yorkers munched on cake.

Mr. Singhal introduced the freshness problem, explaining that simply changing formulas to display more new pages results in lower-quality searches much of the time. He then unveiled his team’s solution: a mathematical model that tries to determine when users want new information and when they don’t. (And yes, like all Google initiatives, it had a name: QDF, for “query deserves freshness.”)

Mr. Manber’s group questioned QDF’s formula and how it could be deployed. At the end of the meeting, Mr. Singhal said he expected to begin testing it on Google users in one of the company’s data centers within two weeks. An engineer wondered whether that was too ambitious.

“What do you take us for, slackers?” Mr. Singhal responded with a rebellious smile.

THE QDF solution revolves around determining whether a topic is “hot.” If news sites or blog posts are actively writing about a topic, the model figures that it is one for which users are more likely to want current information. The model also examines Google’s own stream of billions of search queries, which Mr. Singhal believes is an even better monitor of global enthusiasm about a particular subject.

As an example, he points out what happens when cities suffer power failures. “When there is a blackout in New York, the first articles appear in 15 minutes; we get queries in two seconds,” he says.

Mr. Singhal says he tested QDF for a simple application: deciding whether to include a few news headlines among regular results when people do searches for topics with high QDF scores. Although Google already has a different system for including headlines on some search pages, QDF offered more sophisticated results, putting the headlines at the top of the page for some queries, and putting them in the middle or at the bottom for others.

GOOGLE’S breakneck pace contrasts with the more leisurely style of the universities and corporate research labs from which many of its leaders hail. Google recruited Mr. Singhal from AT

Jp Morgan Agrees To Occupy World Trade Center Skyscraper

Thursday, June 14th, 2007

NEW YORK — J.P. Morgan Chase

Bleak Mood Drags Down Support For Bush

Thursday, June 14th, 2007

An increasingly gloomy political environment has soured Americans on President Bush and Congress, scrambled the Republicans’ 2008 field, and strengthened Democratic front-runner Hillary Rodham Clinton’s lead, according to a new Wall Street Journal/NBC News poll.

As the Iraq war drags on and Washington is embroiled in inconclusive policy debates, just 19% of Americans now say the nation is head in the right direction. More than three times that proportion, 68%, say things in the U.S. are “off on the wrong track.” That’s approaching the most pessimistic mood in the history of the WSJ/NBC poll.

At the same time, Mr. Bush’s job approval rating has fallen to his lowest-ever level of 29%, while 66% disapprove his handling of the presidency. The telephone survey of 1,008 adults, conducted June 8 to 11 by Republican pollster Neil Newhouse and his Democratic counterpart Peter Hart, carries a margin for error of 3.1 percentage points.

The fallout from that bleak mood affects the Democratic-controlled Congress as well as the Republican president. Just 23% of Americans approve the performance of Congress, matching the finding of the Journal/NBC poll from one year ago as the Republicans then holding House and Senate majorities headed toward defeat in November mid-term elections.

But the overall climate has had different effects on the two parties’ contests for their 2008 presidential nominations. Among Republicans, front-runner Rudy Giuliani has lost ground, dropping to 29% support among rank-and-file Republicans from 33% in April. Trailing the former New York City mayor with 20% is former Sen. Fred Thompson of Tennessee, who hasn’t even formally entered the race yet.

Former Gov. Mitt Romney of Massachusetts has moved to 14%, from 12% in April, while Sen. John McCain of Arizona has dropped to 14% from 22% in April. Former Gov. Mike Huckabee of Arkansas draws 3%.

As the Republican presidential field has grown more unsettled, the Democratic front-runner has moved into stronger position. Sen. Clinton of New York now draws 39% of the vote, up from 36% in April, while Sen. Barack Obama of Illinois has dropped to 25% from 31%. Former Sen. John Edwards of North Carolina has also fallen to 15% from 20%. Gov. Bill Richardson of New Mexico and Sen. Joe Biden of Delaware lag behind with 4% apiece.

Candle Holder

Go To Galicia Follow The Way Of St James4

Tuesday, June 12th, 2007

Go to Galicia - Follow the Way of St James
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Spain is a country that as has been described on a great many occasions is actually more than just the sum of its constituent parts.As a country that still has great inter regional “differences of opinion” - euphemism here for cultural differences and in some cases acts of terrorism, Spain still has a tremendous amount to offer.

As you travel around the country you see glimpses over past rich in the heritage of former conquerors be they the Moors, medieval Spaniards themselves or parts of the country that have Jewish and other international flavours.

There are numerous religious sites and pilgrimage routes within Spain as befits a country that is how such a profoundly religious background.

If we take one of these pilgrimage routes, the Camino de Santiago, the way of St. James.This first became a popular route for pilgrims in the ninth century when apparently the sepulchre of St James was discovered and as a result in the century’s ensuing, pilgrims from around the world have flocked to this route to have the chance to walk along the route to pay tribute to the apostle St. James.

El Camino de Santiago has out a chequered past with regards to popularity indeed at some points that has been barely interest at all. Folklore says that during this time prisoners used to walk along the route is the attempt to try and perform penance. It is arguable that political unrest in the 16th century, Black plague, Protestant Reformation may have had something to do this.

Interest in this particular pilgrimage route was revised in the 20th century when UNESCO made Santiago de Compostela a world heritage site – a site that now has since become the setting for one of the world’s biggest pilgrimages.

In addition to people undertaking the religious pilgrimage of which there are a great many or so as many if not all who travel along the route to appreciate the route for nonreligious reasons.

The route is more than just one route and the three most popular would be the Camino Frances, the Camino del Norte and the Camino Ingles. It has to be said that the most popular pilgrimage routes originate in France, leading from the north or France right down to Spain. All of the French routes come together and meet in the town of Roncesvalles in Navarre.

To be totally honest nowadays all but the most ardent and fervent pilgrims start out along the Way of St James from Roncesvalles and proceed along the 760 kilometre route to Santiago de Compostela. As they pass through historic towns and villages along the route such as Navarre, Burgos and Logrono, many pilgrims claim that having gone through this experience en route they feel suitably spiritually prepared for when they arrive at the Cathedral in Santiago de Compostela.

The French route is the more popular of the three routes.

A fairly functional but recognizable system of yellow arrows is used to ensure that all war is and pilgrims along the way to not get confused and deviate from the actual route itself. It is said that these were by and large painted in the 1970’S by Father Elias Valdinha who as well as wanting to improve the way also wanted to avoid more confusion that was necessary and also to ensure that all pilgrims arrived at their destination in good order as well as humour!

A considerate man.
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Scott James writes about all sorts of automotive issues on the Internet and Check out the following for more information about the above: Travel Galicia / http://www.travelgalicia.info/santiago-de-compostela.html

Murdoch Calls Dow Jones Meeting Constructive

Tuesday, June 5th, 2007

In the first face-to-face meeting between the Bancroft family and News Corp.’s Rupert Murdoch, the two sides convened yesterday for more than four hours to discuss issues of journalistic independence for Dow Jones

Existing Home Sales Fell In April As Subprime Lending Drops Off

Friday, May 25th, 2007

WASHINGTON — Existing-home sales retreated in April, dropping to the lowest pace in nearly four years in another negative sign for the slumping housing sector.

Home resales fell to a 5.99 million annual rate, a 2.6% decrease from March’s revised 6.15 million annual pace, the National Association of Realtors said Friday. March’s rate was originally estimated at 6.12 million.

The median price for a home previously owned was $220,900 in April, down 0.8% from $222,600 in April 2006. The median price in March this year was $217,400.

NAR senior economist Lawrence Yun said he has anticipated slower demand because many subprime-loan products have dried up.

“In addition, increased scrutiny by lenders is stopping risky mortgage origination, which is good for both consumers and the lending community,” Mr. Yun said.

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The April resales level was below Wall Street expectations of a 6.18 million sales rate for previously owned homes. The 5.99-million pace was the lowest since 5.94 million in June 2003.

The subprime mortgage market mess is expected to restrain sales going forward. The Federal Reserve’s latest quarterly survey of banks’ senior loan officers, conducted in April and released last week, showed lenders tightened standards on subprime and nontraditional mortgages. Analysts expect tighter standards will lower the number of mortgages approved and keep sales depressed.

The average 30-year mortgage rate was 6.18% in April, up from 6.16% in March, according to Freddie Mac.

Inventories of previously owned homes rose 10.4% at the end of April to 4.20 million available for sale, which represented a 8.4-month supply at the current sales pace. There was a 7.4-month supply at the end of March, revised from a previously estimated 7.3 months.

Sales of existing homes dropped in all regions, down 0.7% in the Midwest, 8.8% in the Northeast, 1.7% in the West, and 1.2% in the South.