Debt ceiling, spending cuts and taxes: Deal or no deal?

Posted By on July 21, 2011

While Americans wait and watch politicians haggling in Washington DC, the stock markets seems to be banking on a deal. Mid day on Thursday, the NYTimes mid-day reported that President Obama and Speaker of the House John Boehner were close to a deal … only to have Whitehouse spokesman Jay Carney quickly say that there was no progress to report.

Those of us pondering the message are left sitting and waiting … not that I’m planning to rush out and invest or anything.

New York Times:

Boehner and Obama Close to Deal, Leaders Are Told
By CARL HULSE and JACKIE CALMES – Published: July 21, 2011

WASHINGTON — The Obama administration has informed Democratic Congressional leaders that President Obama and Speaker John A. Boehner were starting to close in on a major budget deal that would enact substantial spending cuts and seek future revenues through a tax overhaul, Congressional officials said Thursday.

Full article

Wall Street Journal:

JULY 21, 2011, 2:27 P.M. ET

Deal Not Close, White House, GOP Leaders Say

WASHINGTON—The White House and top Republican leaders denied reports that President Barack Obama and House Speaker John Boehner were close to a “grand bargain” on the budget, news that jolted stock prices and boosted the dollar.

The markets moved after a Democratic aide said Messrs. Obama and Boehner were close to a deal that would include around $3 trillion in deficit-reduction measures, and wouldn’t raise taxes. This drew prompt denials from both ends of Pennsylvania Avenue.

“There is no deal. We are not close to a deal,” White House spokesman Jay Carney said. “The fact is there is no progress to report.”

A spokesman for Mr. Boehner said, “While we are keeping the lines of communication open, there is no ‘deal’ and no progress to report.” A spokeswoman for House Majority Leader Eric Cantor said there was no deal that Mr. Cantor is “aware of.”

Full Article

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The Solar Portable Toilet

Posted By on July 21, 2011

I’m not sure it will be a money maker, but the sanitation aspect for third world locations would be promising IF such a product is both serviceable and durable.

A scientist from California Institute of Technology developed solar-powered portable toilets for a self-power wastewater treatment solution to some of the sanitation issues of some developing countries.

Environmental scientist and engineer Michael Hoffmann believes that his “Self-Contained, PV-Powered Domestic Toilet and Wastewater Treatment System” concept, will be beneficial for developing countries, especially in Africa.

Mr. Hoffman received a $400,000 grant from the Bill & Melinda Gates Foundation to build the project. The grant will be used to complete the initial design, development, and testing of the sustainable system.

The solar-powered sanitation system is similar to the typical portable sanitation unit often found at construction sites and recreation areas. The system has a photovoltaic or solar panel, which converts the sun’s rays into enough energy to power an electrochemical reactor that is designed by to break down water and human waste material into hydrogen gas.

The hydrogen gas can be stored in hydrogen fuel cells to provide a backup energy source for nighttime operation or for use under low-sunlight conditions. He also plans on equipping the units with self-cleaning toilets that would also be powered by the energy from the sun and fuel cells.

A workable unit may cost around $2,000. However, the cost may get lower in mass production. After constructing a prototype using the Gates Foundation grant, Mr. Hoffmann would like to continue to enter commercial production of the technology to further refine the system and reduce its cost.

The project is one of the eight projects of the “Reinvent the Toilet Challenge” presented at the AfricanSan 3 sanitation and hygiene conference in Rwanda on July 19. The Bill and Melinda Gates Foundation announced the grants as part of more than $40 million in new investments launching its Water, Sanitation, & Hygiene strategy.

In August 2012, all of the “Reinvent the Toilet Challenge” grantees will present their samples of different inventions and technology. The winning projects will receive additional funding for product development, industrial production, and commercialization.

According to Mr. Hoffman, “life expectancy correlates to the accessibility of clean water and proper sanitation practices. All of our efforts in biomedicine may go for naught if we don’t take care of sanitation.”

“To address the needs of the 2.6 billion people who don’t have access to safe sanitation, we not only must reinvent the toilet, we also must find safe, affordable, and sustainable ways to capture, treat, and recycle human waste,” says Sylvia Mathews Burwell, president of the Global Development Program at the Bill & Melinda Gates Foundation

According to the World Health Organization and United Nations Children’s Fund, about 2.6 billion people lack access to safe sanitation and almost half of this number practice unsanitary defecation. In addition, W.H.O. estimates that 1.5 million children die each year from diarrheal disease, which is often caused by poor sanitation. (Kristin Dian Mariano)

via solarfeeds.com

Posted via email from RichC’s posterous

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Mission complete. The Shuttle program “has come to a final stop”

Posted By on July 21, 2011

finallandingshuttleatlantis110721
“Mission complete, Houston. After serving the world for over 30 years, the space shuttle
has earned its place in history. Atlantis has come to a final stop.”
— Shuttle Atlantis Pilot Doug Hurley

With its recognized dual sonic booms, Space Shuttle Atlantis touched down this morning at the Kennedy Space Center completing the final scheduled shuttle flight. It ends the era successfully for NASA and opens the door to the unknown future of space exploration.

The landing was “picture perfect” and a example of what men and machines can do with dedication and training. The 5:56 AM touchdown completed STS 135 and closes the door on 30 years of utilitarian service as well as a superb platform for scientist to learn about space and our “good earth.” The program’s end comes with mixed emotion for Americans growing up with NASA and U.S. superiority in space exploration. I’m included in what I suspect is the majority wondering if America will be content with riding shotgun?

Atlantis — the last of NASA’s three surviving shuttles to retire — performed admirably during the 13-day flight.

It dropped off a full year’s worth of food and other supplies at the International Space Station, just in case upcoming deliveries get delayed.

The space station’s international partners — Russia, Europe and Japan — will continue to carry up cargo loads. And Russia will keep launching American astronauts to the orbiting lab until private industry is ready to fly people up in three to five years.

Several private companies are vying for the cargo runs and astronaut ferry flights. The front-runner hopes to make its first shipment of supplies by the end of this year.

Category: History, News, Space | 2 Comments »
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Campus Crusade for Christ changing name to Cru

Posted By on July 20, 2011

Something tells me that I’m not alone in wondering why an organization that has successfully carried out it’s mission while continuing to grow its ministry since 1951 is changing their name. Not only are they trying to create a less-descript “Cru” identity, but are dropping “Christ.”

cru1107Campus Crusade for Christ (CCC) — the popular, large-scale Christian organization — has decided to make a major change. In early 2012, the multi-faceted para-church group will officially drop the name it has held for 60 years, replacing it with a three-letter word — “Cru.” While many within the group are praising the change, some outsiders wonder if the ministry, which seeks to “build spiritual movements everywhere so everyone knows someone who truly follows Jesus Christ,“ is making the wrong decision by removing ”Christ” from its title.

More at TheBlaze.com

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AMR announces huge new plane order from Boeing and Airbus

Posted By on July 20, 2011

For those looking for a bright spot on the horizon for the economy, American Airlines must be seeing a light at the end of the tunnel if they are placing the largest airplane order in history.

American Airlines parent AMR Corp. said Wednesday it reached agreements with Boeing Co. and Airbus to buy 460 single-aisle aircraft, including versions of both manufacturers’ re-engined versions that will be more fuel efficient.

AMR, which has had an exclusive purchase agreement with Boeing for years, said it will purchase 260 Airbus A320s from Boeing’s European rival.

AMR said the deals bring $13 billion in committed financing provided by the plane builders through lease transactions.

via online.wsj.com

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New Senate Debt Plan Emerges – WSJ.com

Posted By on July 19, 2011

Press Conference President Obama 07/19/2011

A surprise jolt of bipartisan support emerged Tuesday for a $3.7 trillion deficit-reduction plan that had been in development for months, though it was thought to be dead just several weeks ago.

Roughly half of the Senate’s 100 members sat through an hour-long briefing on the plan, which was designed by a group of lawmakers known as the “Gang of Six” and would cut spending, overhaul entitlement programs such as Medicare, rework the tax code, and make significant changes to Social Security.

The plan is sweeping in its scope but was thought for months to be both overly ambitious and slightly ambiguous, which nearly led the effort to collapse in recent weeks. But the plan was revived, in part by its lead authors—Sens. Mark Warner (D., Va.) and Saxby Chambliss (R., Ga.)—and the flood of bipartisan support coming out of the meeting surprised them both, the lawmakers said.

via online.wsj.com

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Researching a replacement inflatable for our old Zodiac

Posted By on July 19, 2011

defenderinflatable455494_lClipping and archiving to the blog. I could have just marked it private but figured I’d share just in case someone has an opinion.

Length 9′ 10"
Beam 5′ 1"
Weight 114 Lbs
Capacity: 4 Persons or 992 Lbs
Maximum Motor 10 hp (Maximum motor weight 99 Lbs)
Manufacturer recommends 8 hp (15" shaft)
Tube Diameter 17" (Separate Air Chambers 3)

LINK

defender910inflatable0052

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Volkswagen is Not Planning to Sell a Passat Wagon in the U.S

Posted By on July 18, 2011

I was really hoping to see a new TDI Passat wagon in North America. Maybe I’ll just keep waiting for the crossover?

Passat wagon

Despite the unabashed public appearance of a camo-draped Volkswagen Passat wagon on American soil, the company is not planning to offer such a vehicle for sale here, we’ve learned from company sources. The car seen in testing is headed for the European market, and is just undergoing some development in the States, as is common practice among automakers. With an abundance of engineering firms, suppliers, and rain-free and hot climes here, the U.S. frequently attracts cars that will never reach our dealerships. This is the case with the Passat wagon.

Other than Subaru’s offerings, wagons in the family segment have become deeply unpopular, and Volkswagen discontinued the Passat wagon after it repositioned the sedan in the U.S., dropping the base price by nearly $8000 and going after the mid-size market’s biggest players. With a renewed focus on achieving big sales numbers, Volkswagen doesn’t see a new Passat wagon as an effective use of resources.

With all of this said, we already know that aVolkswagen is working on a three-row crossover, priced like a Honda Pilot or Ford Explorer at or near $30,000. Since that is precisely the category to which former wagon buyers have shifted in the U.S., it’s the right product for VW and makes way more business sense than does a Passat wagon.

Posted via email from RichC’s posterous

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Stocks Slump on Debt Fears

Posted By on July 18, 2011

Don’t look at your IRAs or 401K plans today — actually don’t look at them until the powers that be in Washington DC can figure out how to rein in our “Governement Gone Wild.” (I’ve already given up on Europe)

Stocks fell as the combination of anxieties about debt in the bloc of euro-using nations and a lack of progress in U.S. debt-ceiling negotiations sparked an early selloff.

The Dow Jones Industrial Average shed 146 points, or 1.2%, to 12334, led lower by Boeing, which shed 2.5%, and Bank of America, which fell 2.4%. The Standard & Poor’s 500 stock index fell 14 points, or 1.1%, to 1302, led lower by financial stocks, which were hit by the debt worries. The Nasdaq Composite INdex slid 28 points, or 1%, to 2762.

via online.wsj.com

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When talking taxes what is a wealthy American “fair share”

Posted By on July 18, 2011

Far be it from me to defend the “corporate jet” crowd, but am I the only one who wonders what numbers President Obama is talking about when they advocate that wealthy in America “pay their fair share.” I’ve looked at most of the numbers and no matter how you slice the pie, those earning over $200,000 (a minority of Americans) are paying over 60% of U.S. taxes. Personally I think Democrats are just playing politics and using this debt ceiling debate as an excuse to continue growing the Federal government and raising taxes?

wealthypayingtheirfairshare

From President Obama’s Weekly address:

“[you] can’t solve it without asking the wealthiest Americans to pay their fair share …”

Unfortunately I’m also concerned that those who are “playing chicken” in Washington DC are also putting all of us at risk because they only know how to spend money. What really needs to get done is to simplify the “special interest” oriented tax code – something both sides of the congress talks about … as does President Obama.

What is missing from this debate is the focus on job creation and the broadening of the tax base. If our central government was smaller and the red tape in order to operate a small or large business was less, it would be far easier to hire and expand. I can’t see a reason at the moment that an investor or business entrepreneur would risk capital to hire new employees while there is the threat of higher taxes and the unknown cost associated with the “Affordable Care Act” – aka: Obamacare.

It doesn’t surprise me that wealthy Americans pay the most taxes, but it does surprise me that the majority of American citizens (earning $100,000 and below) cover only 15% of the taxes collected – of course we’re also borrowing another 40% on top of what we collect to cover Washington DCs’ spenders.

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Desultory - des-uhl-tawr-ee, -tohr-ee

  1. lacking in consistency, constancy, or visible order, disconnected; fitful: desultory conversation.
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