Archive for October 29th, 2008

kaip writes “Finland piloted a fully electronic voting system in municipal elections last weekend. Due to a usability glitch, 232 votes, or about 2% of all electronic votes were lost. The results of the election might have been affected, because the seats in municipal assemblies are often decided by margins of a few votes. Unfortunately, nobody knows for sure, because the Ministry of Justice didn’t see any need to implement a voter-verified paper record. The ministry was, of course, duly warned about a fully electronic voting system, but the critique was debunked as ’science fiction.’ There is now discussion about re-arranging the affected elections. Thanks go to the voting system providers, Scytl and TietoEnator, for the experience.”

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An anonymous reader writes “You can find six new on the web sources of info about hot topics in modern physics at the ‘What We Research’ outreach page of Perimeter Institute. The info includes text, graphics and on the web presentations dealing with Cosmology, Superstring Theory, Quantum Gravity, Quantum Foundations, Quantum Information and Particle Physics. The resource section at the bottom of each page advocates a wealth of interesting on the web lectures by some famous scientists. PI is an independent, nonprofit scientific research and outreach organization.”

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After failing yesterday when a late-day selloff hit the market, today the buyers were determined. Asia proved that its markets could finally rally and the rest of the world followed suit. The markets had enough buyers this day that the worst consumer confidence on record and another poor housing number were swept as “yada yada yada, tell me something I don’t know.” The markets were also more hopeful that Ben Bernanke and friends at the FOMC will drop rates by 50 basis-points Wednesday.

Here were today’s unofficial closing bell levels:
DJIA: 9,065.12 +889.35 +10.88%
NASDAQ: 1,649.47 +143.57 +9.53%
S&P 500: 940.51 +91.59 +10.79%
10YR T-NOTE 3.82% (+0.091%)

Top Upgrades & Downgrades

Boeing Co. (NYSE: BA) reached a tentative pact that might end the machinists union strike at the aerospace giant. Shares were up 11% at $47.16 right before the close.

Discover Financial Services (NYSE: DFS) settled on the litigation with MasterCard and Visa, and it will receive a total of $2.75 billion over anti-competitive pressures. It was a known event, but this finalizes the issue sooner rather than later. Shares were up 18% at $11.48 right before the close.

Continue reading Closing Bell: Dow ends up almost 11%; BA, DFS, GOOG, VLO end with strong gains; WHR declines

BloggingStocksClosing Bell: Dow ends up nearly 11%; BA, DFS, GOOG, VLO end with strong gains; WHR declines originally appeared on BloggingStocks on Tue, 28 Oct 2008 16:22:00 EST. Please see our terms for use of feeds.

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Szentigrade writes “Popular Science is running a letter by Daniel Engber of the on the internet Slate Magazine in which he offers the US Presidential nominees advice on using the full potential of the World wide web upon their election into office. Some examples discussed in the letter include: a project already being developed that speeds up the patent approval process, a UK site that aims to improve government-citizen interactions, and perhaps most importantly, a call for government information to be ‘presented in a standardized and widely used data format, like XML, so that anyone — in or out of government — could use and reconfigure it however they pleased.’ Will 2009 be the first year of the E-President?”

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kpearson writes “Distributed.net’s 8-year-old OGR-25 distributed computing project has just proven conclusively that the predicted shortest 25-mark Golomb ruler is optimal. ‘The total length of the ruler is 480, with marks at positions: 0 12 29 39 72 91 146 157 160 161 166 191 207 214 258 290 316 354 372 394 396 431 459 467 480. (This ruler may alternatively be expressed in terms of the distance between those positions, which is how dnetc displays them: 12-17-10-33-19-…).’ 124,387 people participated in the project and two people found the shortest ruler, one on October 10, 2007 and the other on March 24, 2008.”

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Jaromir Jagr on His Life in Russia - New York Times


New York Times

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Are you better off than you were a year ago? Probably not. Since then, global markets have lost roughly half, or $30 trillion worth of their value. House prices fell 16.6% between August 2007 and August 2008 and 3.4 million people are expected to have foreclosed on their houses by the end of 2009. So you can’t retire as soon as you thought and if you still own it, you can’t borrow money against your home.

Looking ahead to the holiday season and witnessing thousands of people losing their jobs could put you in a bad mood. After all, median income is down since 2000 while it still costs much more to fill your gas tank than it did back then — not to mention pay for health care. So it should come as no surprise to learn that consumer confidence is lower than it has been in the last 41 years.

But consumers are not smart. As John McCain advisor, Phil Gramm has said, Americans are whiners. And McCain himself has made it clear that the economic fundamentals are strong. After all, McCain (or more likely his wife) owns seven houses and thirteen cars. So the point is that his economic fundamentals are strong. And that’s all that really matters.

As for American workers, let them eat cake.

Peter Cohan is President of Peter S. Cohan & Associates. He also teaches management at Babson College and edits The Cohan Letter.

BloggingStocksWith house prices down 16.6%, consumer confidence at lowest level in 41 years originally appeared on BloggingStocks on Tue, 28 Oct 2008 12:32:00 EST. Please see our terms for use of feeds.

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