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    A Primer on Money, Banking, and Gold (Peter L. Bernstein's Finance Classics)
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Monday
Feb042013

So What if Yahoo Trades at USD25 

Jon D. Markman has posted today that Yahoo is no longer a punchline. He explains that to mean Yahoo can no longer be called a "joke"...it's now an investment (again, I suppose!).

He goes on to say that with the coming of Marissa Mayer, Yahoo has streamlined its operations focusing dutifully on smaller investments that are a better fit for existing products and which have a greater potential for unlocking revenue.

Right...that's all well and good but what about how I feel. Trading at USD25 is no consolation for my headaches using the once mighty portal. The fact is my head still hurts from the many frustrations:

1. When will linking to Yahoo stories or images stop being a crap-shoot and a nightmare for publishers. Try it. Link to an interesting story on Yahoo and very likely in a few months that link will no longer work.

2. Embed or link to a Yahoo video and the result is very likely the same in the land of the constantly shifting content.

3. How often have you seen a head turning headline on Yahoo only for the actual story not to have anything to do with the "hot" topic or the actual read reveals an amateurish rendition of sensationalism.

4. What about spam? The internet will never rid itself of spam and Yahoo's mailbox constantly reminds me of this fact.

5. And have you seen the recent quirky redesign of Yahoo's main portal with the image of the highlighted story partially blocked by what's meant to be a transparent overlay and the  headline itself. Surely Yahoo can do better!

Yahoo's stock price may have been climbing over recent months but so has been the overall Dow Jones Industrial Average, now at 14,000. Maybe the much maligned company has inadvertently benefited from this tumultuous rise. Maybe too the honeymoon with Marissa Mayer and the hope that things will finally take a turn for the better are still lingering.

I am not sure what's causing the writer's positive outlook and the piece posted today has no convinced me of anything. I am discounting the acquisition of Snipit that the writer has highlighted as part of the "new" approach and any price movement which may have been motivated by the overall market itself and instead wait until Yahoo has done something that will have everlasting impact on my direct experience using the site both as a publisher and regular user.  It's only then I will be convinced that Ms. Mayer has made a difference and that the company's business model has changed for the better.

And what the hell is Snipit by the way?

Thursday
Nov292012

Winning the USD500M Powerball. I'm Deflated My Take Home Would Only Be USD187M

I was really surprised that you only take home USD187 million from winning a USD500 million lotto. In the Forbes video below, Deborah Jacobs stuns me into reality. 

As she explains, if you take the winnings now you are only entitled to USD327 million, not bad but then Uncle Sam needs to get paid. If it were just for Federal Taxes, the USD327 million would be tagged for another USD114 MILLION or 35% leaving USD213 million . Still not too bad at almost half the original USD500 million but wait...there is more pain.

With all the other state taxes, the final take home is a mere USD187 million. USD187 million after winning  USD500 million? It makes me really wonder why one plays the lotto in the first place. Seems like highway robbery!

There's a way though, apparently, to get around the taxes. Yes there is...move to Pennsylvania! Pennsylvania has no tax on lottery winnngs. Now that spells sense and makes taking that USD500 million lotto gamble all the more fun.

By the way, Deborah explains the alternative to not taking the lotto winnings upfront...take the proceeds over 29 years! Now with money in the bag, places to go and people to see, who would ever wait 29 years?

Monday
Oct152012

2012 Presidential Debate Round 2: Ten Pointers for President Obama

Don’t over-prepare.

So, by all counts, you were clearly the loser in Round 1 but my advice for Round 2 is to be wary of over-preparing. It’s not as if you don’t know the facts...you let down your Party and diehard supporters simply by not debating the first time around...

I came to see a fired up President defending his positions and instead got a gentle, wake me up later speech. 

Do engage your opponent.

I hope by now you have watched the tape from the first performance, as painful as it may be. Was the strategy not to look at Mr. Romney directly intentional?

Well, my advice, ditch it for Round 2. It comes across as cold and disrespectful. Afterall, you will recall an out-of-touch opponent in John McCain doing the same thing in 2008 to you. It didn’t work then and will not work now. 

Watch your Veep debate Ryan.

I hope by now you have watched the tape of your Veep debating Paul Ryan ten times. That’s how you debate...come with the facts, defend your record, challenge your opponent's positions, all this while engaging everyone in the room and on camera.

Now for the aesthetics...do get some rest!

In 2008, we watched a young-looking invigorated President debate his way to the Presidency. You will know that appearance, TV-wise, for the first debate cost you some points aesthetically.

We all know it’s a tough schedule and the grays are showing, but the President should get a haircut, get some much needed rest and come looking “TV sharp” and much more energized for Round 2. 

In closing the debate, do remember to thank Mr. Romney for being a worthy opponent.

One of the few mistakes Joe Biden made last Wednesday was forgetting to say thanks to Paul Ryan in closing. We know it was an oversight, but voters can see it as rude and disrespectful. 

Drop the George Washington references.

If I hear one more politician invoke George Washington or President Reagan and Speaker “Tipper” O’Neil, I’ll go berserk. The references are speechy, often have nothing to do with grassroots issues and are way over-used. Debate the opponent on the facts and be interactive, engaging and gracious in closing, that’s all! 

Don’t forget to enrich responses with references to the Middle Class.

The Romney/Ryan ticket has not connected to the vote-rich middle class and your Veep hammered that home skillfully in his debate. Do pick up from where good ole Joe left off. Own the Middle Class like the Veep did and November will treat you well. 

Your opponents 47% gaffe is not stale, use it!

I trust in your political memoirs that we all get a full understanding as to why you chose to ignore quite possibly the biggest political gaffe by any politician in history.  It’s still not too late. It’s simply a matter of credibility for your opponent.

He must be made to answer to the American people exactly what he meant by saying 47% of Americans feel they are entitled to government aid. Although, with time Mr. Romney won’t gaffe on this matter again...the President should use it, but be wary of the well thought out comeback! 

The tone of your voice should carry the message.

Some considered your Veep’s tone in the debate with Ryan aggressive and overbearing. Indeed, he got ahead of himself at times but overall he did well. He was combative when necessary and when the questions demanded a more personal response, he was more thoughtful and used a more somber tone.

The President’s tone by contrast in the first debate seemed to be “stuck in one gear”...no excitement, no passion! I trust the President comes with more than some facts and a lullaby the second time around. 

You have lost ground, but resist the temptation to over-debate.

Joe Biden was almost guilty of this and Paul Ryan was right to call him out. The President may be tempted to make up for the polls by trying too hard. 

Final word of advice...be and look yourself, come prepared to debate and not to speak from the pulpit...address the middle class directly and be interactive and engaging, while using the right tones to continue carrying your message of “change” across.

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Saturday
Sep152012

Back to School. Will My Child Get The Attention He/She Deserves? Do "True Teachers" Exist?

Heading back to school, most parents concern is making sure that their children have everything ready. Whilst for some, it is getting ready to meet the new teacher. Will this teacher be able to reach my child/children? Can this teacher be trusted to care for my child/children the right way? These are some of the many concerns of parents who have no choice but to trust teachers with their ‘bundle of joy’. The truth is, these apprehensive parents will never know until the clock strikes 8 on the first day of school and thereafter.

 True teachers do exist! There are teachers in the profession not just for the opportunity, so let us salute those teachers who are in the profession for the love of children and our future leaders. In this article a true teacher is referred to as someone who is first called by the Creator to serve in that capacity and one who is dedicated to the task at hand; instilling good values and morals in our children.

A true teacher is one who has the children’s interest at heart, always willing to go the extra mile, gets upset when children are treated inappropriately or abused. Once a person takes on the role of a teacher; especially for the kindergarten students, one should understand that it is not just saying you are a teacher it is more the action or expression that will be of importance. A teacher should naturally possess the following characteristics: loving, caring, kind, understanding, gentle, patient, trustworthy, responsible, intelligent, and above all God fearing. The children are our future, in order for our future to be a bright and prosperous one we have to steer our children in the right direction. For this process to be successful the teachers ought to be held accountable for each life they touch on a daily basis.

I remember being told by a teacher at age 9 that I don’t know my bed head different from my bed foot and, how damaging it was to my self-esteem. I gave up without even trying as a result I could not pass an exam, I stopped dreaming, I believed I was dull so I started behaving dull, I joked out high school I was like a comedian in my class. I remember my form teacher in grade 9 saying to me ‘why do behave like that and you are a bright girl?’ that was a question I could not answer until doing Psychology in college. I was messed up in mind because of my teacher!

A teacher has the power to either build or destroy a child, it is sad that some choose to destroy rather than build. With teachers being so powerful, one should consider personality testing of teachers compulsory in order to enter the profession. An outgoing person is usually friendly, kind and loving. The use of the personality test will help eliminate the problem of teachers who are in the classroom doing more damage than good to children because they do not possess the characteristics of a teacher.

For the class to flow and learning to take place, the teacher should display warmth and develop an atmosphere where children feel comfortable and safe. An organised teacher is an efficient teacher. Preparation for class should be done the day before; teaching time should NOT be used for preparing lessons. Evaluation and reflection is vital, this will help to assess whether learning has taken place and what to do to help those who are struggling with concepts taught or whatever issue observed. Having the ability to maintain an atmosphere where learning takes place easily is a must. Applying wisdom in situations that show difficulty in resolving is a plus.

A true teacher should be enthusiastic about learning, ensure no child is left behind, will not stop until there is evidence of learning, will NEVER give up on a child, will NOT speak negatively to or over a child, will NOT ill treat a child or ignore a child because of a parent’s behaviour towards him/her, will see all children as one and try in all means possible to protect them, displaying nothing less than unconditional love towards children. A true teacher sees teaching as a vacation rather than a profession.

Pray and hope that your child or children will be placed in the care of a TRUE teacher.

Photo credit

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This post is contrubuted by Melisa Thompson. Melisa is an elementary school teacher with a Bachelor’s Degree in Guidance and Counselling. She is currently pursuing a Masters Degree in Special Education at Nova Southeastern University. 

Educating and learning from my students is how she enjoys spending her days. In her spare time she enjoys socializing, especially with other educators.

Thursday
Aug232012

The 2012 Olympics. One Island Blessed with Usain Bolt, Reggae Music and Coffee Dominated

Ask people how Jamaica is doing today and most will cite a plethora of woes. From spiralling deficits, escalating debt levels, high unemployment to declining civility, political stalemate to a coarsened popular culture, there’s no shortage of troubles to identify. It’s easy to forget what’s good about Jamaica. 

There are many things that need fixing in our country, principally impediments that prevent our economy from growing or at least performing better than it currently is. It’s a favorite topic for me. But today I want to write a little about what is still right with Jamaica, especially since it’s our 50th birthday. 

Our success on the world stage is indisputable. It’s not anecdotal as it can easily be proven statistically. Take for example our performance in the London Olympics 2012. According to figures from the World Bank and the CIA World Fact book, Jamaica the athletics superpower, with flag bearer Usain Bolt, comes second when ranked by medals per number of population. With 12 medals, that makes one medal per 200,000 people living on the island. When ranked by GDP per capita Jamaica placed second behind Grenada. Another reasonable criterion is medals per athlete (MPA). 

There is currently a raging debate that our Olympic delegation should have included a sports psychologist and Smikle’s coach. However like many developing countries budget constraints restricted the size of our Olympic delegation. Most countries are forced to make the difficult decision of sending a limited number of athletes, giving preference to those that have the best shot at winning. That being said, if we use the criterion of MPA, Jamaica reigns supreme, with 0.50 MPA. 

Reggae music is another international standout. Up until 2011 Bob Marley's estate was always included in the Highest Earning Dead Celebrities' list put out by Forbes every year. His estate was earning a robust US$7 million per year. This year, the iconic singer missed the Highest Earning Dead Celebrities' list. The benchmark for inclusion on the list is US$6 million. 

However do not be fooled, it's not that Bob’s songs are doing well, earnings have been declining, because certain songs no longer belong to the estate. In 2010, the Marley estate lost a key lawsuit regarding the copyright of his songs. UMG is now the owner (rightful or not) to five of Marley's albums recorded between 1973 and 1977 for Island Records. These are some of Marley's best known records, including Burnin' and Exodus, and include hits like "Get Up, Stand Up," "I Shot the Sheriff," "No Woman, No Cry" and "One Love." 

Blue Mountain CoffeeOur Blue Mountain Coffee is known for its silky mouth feel and wonderful complexity. Cultivated high on the slopes of the famed Blue Mountains at elevations of up to 5,500 feet above sea level, this premium gourmet coffee is known to connoisseurs as the quintessential cup of coffee exhibiting a supreme sophistication. 

Jamaican Blue Mountain coffee delights the palate and is a specialty coffee that ranks as among the very top on any coffee taster’s list when proclaiming an answer to the question of what is the best coffee in the world.

These are just some of the wonderful things about Jamaica, but look closely on these things, they highlight one of our greatest hopes for the future. That hope is that Jamaica can be internationally competitive, and not only survive but thrive. 

Our athletics program is the best in the world. We have found a methodology of discovering the most talented athletes from a population pool far smaller than our major competitors. Once we have discovered our talent, there is a process that refines and hones their skills from the primary level all the way to the professional level. This is done through primary / prep championships to the best inter high school championship in the world “CHAMPS”. From this manufacturing process we have become know as the sprint factory. 

Before the sprint factory we were consistently producing international music superstars. Bob Marley and Usain Bolt are now legends. Both share humble begins, both excelled at the international level, and most importantly both are products of Jamaica land we love. The question must now be asked, why can’t we replicate the success in athletics and music to other sectors of our economy and move Jamaica forward?

Similarly to how we have created a process to produce top class athletes and musicians we should be able to translate these methodologies to our goods producing and service sectors. If this is done Jamaica will experience a total transformation and its resident’s standard of living exponentially increase. 

As Jamaicans we must be relentless in our pursuit to improve ourselves and the world. Jamaica has many things wrong with her right now, but there has never been a time in the past 50 years when it has been more important for citizens to demonstrate their love for Jamaica and to take steps to change her for a better 50 years.

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Contributed by Deon McLennon