Fiscal COmpact- not a compact case

Irish referendum: taking a punt | Editorial | Comment is free | The Guardian: "Right up there with the Yugo, Zaporozhets and Moskvitch, the EU's fiscal pact must rank as one of the worst vehicles on the road. It's lethal not only for its occupants but other road users, it's got an oil leak and probably no brakes. Would you hitch a ride in one, if it lurched to a halt in front of you? That's the choice facing Irish voters in a referendum today.

The case for not getting in is persuasive. Despite the promises of its driver, it is almost certainly not taking you in the direction you want to go: banks whose debt burden is unmanageable but for which taxpayers still have to pay; weaker economies with higher unemployment; falling revenues. As economic horizons shrink, the periphery feels it first. Look at what is happening to jobs in the centre of the eurozone. French unemployment is at a 12-year high and continues to edge up. The CGT union handed France's new centre-left government a list of 46 companies that were planning to cut production sites, threatening 45,000 jobs."

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The Value of the EU

So, what has the EU ever done for us? - The Irish Times - Tue, May 29, 2012: "Consumer rights : new rules make it easier for companies to sell online or at a distance in other EU states, while also giving consumers greater protection. There is a 14-day EU-wide cooling-off period for online sales and the cost of returning products bought online must be clearly stated in the sales contract.

All products bought online must be delivered within 30 days, the trader is responsible for any damage to, or loss of, the product during delivery and there will be an end to hidden charges, such as those in the “pre-ticked boxes” sometimes used in internet sales.

Clearer food labelling : the energy content and amounts of fat, carbohydrates, sugars, protein and salt must all be stated in a legible form on the packaging, under EU rules.

At present, all ingredients – including allergenic substances – must be indicated on the labels of pre-packed foods. The new legislation extends this obligation to non- packaged foods, for example food sold in restaurants or canteens. Also the origin of fresh meat, from pigs, sheep, goat to poultry, has to be shown on the label."

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Not a taxing affair

Employment News, Consumer Tips and Job Advice - Life Inc. | TODAY.com Blogs - Thousands of wealthy earners manage to zero out tax bills: "More than 35,000 people who had income of more than $200,000 in 2009 paid no federal income taxes that year, according to a new report from the Internal Revenue Service.
The non-taxpayers were among the top 3 percent of all earners with more than $200,000 in "expanded income," which includes adjusted gross income plus other less common sources of income such as tax-exempt interest or foreign income."

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Education in Conservative America

As College Graduates Cluster, Some Cities Are Left Behind - NYTimes.com: "Just 24 percent of the adult residents of metropolitan Dayton have four-year degrees, well below the average of 32 percent for American metro areas, and about half the rate of Washington, the country’s most educated metro area, according to a Brookings Institution analysis. Like many Rust Belt cities, it is a captive of its rich manufacturing past, when well-paying jobs were plentiful and landing one without a college degree was easy.

Educational attainment lagged as a result, even as it became more critical to success in the national economy. “We were so wealthy for so long that we got complacent,” said Jane L. Dockery, associate director of the Center for Urban and Public Affairs at Wright State University here. “We saw the writing on the wall, but we didn’t act.”"

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Climate Change and Indus Valley Civilization

Climate change killed Harappan civilization: Study - The Economic Times: "WASHINGTON: Climate change may be the main culprit behind the collapse of the Indus Valley Civilization around 4,000 years ago, says a new study, which also claims to have resolved the long-standing debate over the source and fate of the Saraswati, a sacred river in Hindu mythology.

The study, combining the latest archaeological data along with state-of-the-art geoscience technologies, suggested that decline in monsoon rains led to weakened river dynamics, and played a critical role both in the development and the fall of the Harappan culture, which relied on river floods to fuel their agricultural surpluses.

The international team, which published their findings in the journal Proceedings of the National Academy of Sciences, used satellite photos and topographic data to make and analyse digital maps of landforms constructed by the Indus and other neighbouring rivers, which were then probed in the field by drilling, coring, and even manuallydug trenches. Collected samples were used to determine the sediments' origins, whether brought in by rivers or wind, and their age, in order to develop a chronology of landscape changes. "

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Derivatives w/o underlying ethical values as assets

Don't blame Greece, our economic woes self-inflicted: N Vaghul, Chairman, ICICI Bank - The Economic Times: "Blending his characteristic wit with banking analogy, Vaghul says, "the root cause of our financial crisis is that we have created derivatives without underlying assets," referring to the decline in values in all spheres of life. Therefore, much like the US sub-prime crisis, we have another crisis on our hands with derivatives that are created with no underlying assets in the form of ethical values.
Asked if he thought the present crisis was all self-inflicted and not brought on by the ripple effect of the Greek and global crises, he retorts: "I feel it is self-inflicted, don't you think so?" Holding forth on the importance of upright leadership at an event here to remember banking stalwart and former SBI chairman RK Talwar, Vaghul said work ethics ought to be the cornerstone on which to build careers and industry and that the decline in values witnessed all around reminded one of the importance of the philosophy of those like Talwar, who thought everyone was an instrument of the divine."

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Grekxit costs: can everything be reduced to euro and cents?

Greek exit 'may cost' €1 trillion - The Irish Times - Sat, May 26, 2012: "The cost of Greece exiting the euro would be unmanageable and probably exceed the €1 trillion previously estimated by the Institute of International Finance (IIF), the group's managing director said.

The Washington-based IIF's projection from earlier this year is "a bit dated now" and "probably on the low side," Charles Dallara said in an interview in Rome.

"Those who think that Europe, and more broadly the global economy, are really prepared for a Greek exit should think again."

The European Central Bank's exposure to Greek liabilities is more than twice as big as the ECB's capital, said Mr Dallara, who represented banks in their negotiations with the Greek government on its debt restructuring."

Amazon- getting the heat for putting the heat on its workers

Bottom Line - After protest, Amazon workers finally get AC: "Amazon was criticized last year after a local newspaper in Pennsylvania reported how workers at its warehouse there had to endure heat indexes of 110 degrees in the summer months — sometimes for as little as $11 an hour.
"During summer heat waves, Amazon arranged to have paramedics parked in ambulances outside" in anticipation of workers succumbing to the blistering-hot conditions, the Morning Call wrote. On one June day alone, 15 workers collapsed from the heat."

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Independence of Scotland...not yet "Scot" free

Scottish independence drive - The Irish Times - Fri, May 25, 2012: "With rousing speeches, music and support from the arts world supporters of independence for Scotland launched a campaign today which they hope will lead to the demise of a 305-year-old union with England.

"This is the beginning of something really special - the beginning of the campaign to restore nationhood to Scotland," Alex Salmond, leader of the Scottish National Party (SNP), told hundreds of supporters in hall in the capital Edinburgh.

"We want a Scotland that is fairer and more prosperous."

The campaign hopes to tap into a blend of historical rivalry, different political tastes, and a perception that the British parliament in London does not safeguard Scotland's interests to win a referendum in 2014 which would pave the way for full independence two years later."

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CEOs taken care of handsomely by their companies- expect government to take care of the lowly paid workers

On top of big salaries, companies pile on perks - National Business - MiamiHerald.com: "Drivers, country club memberships, use of company aircraft - those splashy extras are fairly routine. And so are less-splashy extras, with companies often shouldering the cost for the boss' personal financial planning or annual physical.


All those come on top of the CEO's paycheck. Counting salary, stock awards and other types of compensation, the typical CEO of a big public company was paid a median $9.6 million last year, according to an Associated Press analysis.

That included $161,337 worth of perks and other personal benefits, up 2 percent from the year before. Overall pay was up 6 percent.

Equilar, an executive compensation data company, calculated the CEO pay data for the AP by examining the 322 companies on the S&P 500 that had filed the relevant regulatory disclosures by April 30.

Equilar looked only at companies that had the same CEO for at least two years. In regulatory filings, companies include perks in a category called "all other compensation." That category also includes other personal benefits that companies don't classify as perks, such as contributions to the executives' savings plans.

Among the perks showered on CEOs last year:

- Martha Stewart Living Omnimedia spent $73,230 on a weekend driver for its eponymous founder. It also paid for her personal trainer, "provided in her capacity as on-air talent."

- Wynn Resorts spent $910,345 letting CEO Stephen Wynn use a company plane for personal travel. It also gave up $503,831 by keeping a suite at the Las Vegas resort constantly reserved for him, and gave him merchandise discounts worth $71,561.

- Chesapeake Energy spent $250,000 to help CEO Aubrey McClendon sort out his personal finances, and $121,570 on personal security for him. Shareholders have taken aim at McClendon for borrowing money from companies that do business with Chesapeake. This month, the company ended a perk that let McClendon buy personal stakes in company wells.

- Avon said in December that it would demote Andrea Jung from the CEO job. But it still spent more than $145,000 on perks for her, including paying for her personal car insurance and a $95,577 car-service allowance. She remains the company's executive chairman.

Other companies make sure the CEO gets to use what the company makes. Top Goodyear executives get two sets of tires each year. Stanley Black & Decker, the power tool giant, gives company products to executives as a way to promote them inside the company. The CEO got $1,251 worth last year. Disney's top executives get free access to theme parks and some resorts, plus discounts on merchandise.

Macy's used to offer its executives a discount on merchandise on top of the regular employee discount, for a total of 40 percent off. It cut that perk in 2010, saying it wanted to bring its pay policies in line with "best practices."

Perks count as compensation for executives, who usually have to pay income tax on them. Critics seize on them as proof of the disconnect between wealthy executives and their rank-and-file shareholders and customers.

By some measures, companies are pulling back. An earlier Equilar study found that Fortune 100 companies spent about $229,000 in perks and other personal benefits for their CEOs in 2010. That was down from about $356,000 in 2007.

That's against the backdrop of the financial crisis, which made executive pay an especially contentious issue, as well as stricter government rules released in 2006 about what companies have to disclose around perks.

Companies say they have to offer perks to attract the best CEOs, and to allow them to devote more time to work. They say annual physicals, home security systems and private plane travel help keep them safe.

Coca-Cola says it offers personal financial planning for its top executives, including up to $13,000 for CEO Muhtar Kent, because many of them have dual citizenship or work outside their home countries, which complicates their tax situations. Professional financial advice "helps to ensure they are compliant with local country laws," the company says.

FedEx says the roughly $333,000 it spent in security for CEO Fred Smith in the most recent fiscal year was necessary given "the history of direct security threats against FedEx executives and the likelihood of additional threats."

According to the earlier Equilar study, the amount that Fortune 100 companies spent on security for their top execs more than doubled to about $85,000 in 2010 from $40,000 in 2009.

Deere & Co., which requires CEO Samuel Allen to use company aircraft for all travel, makes note of the company's "geographic location in the Midwest, outside of a major metropolitan area," which "makes personal and business travel challenging." Deere is headquartered in Moline, Ill.

Read more here: http://www.miamiherald.com/2012/05/25/2816716/on-top-of-big-salaries-companies.html#storylink=cpy

Canada student protests erupt into political crisis with mass arrests | World news | guardian.co.uk

Canada student protests erupt into political crisis with mass arrests | World news | guardian.co.uk: "Protests that began in opposition to tuition fees in Canada have exploded into a political crisis with the mass arrest of hundreds of demonstrators amid a backlash against draconian emergency laws.

More than 500 people were arrested in a demonstration in Montreal on Wednesday night as protesters defied a controversial new law – Bill 78 – that places restrictions on the right to demonstrate. In Quebec City, police arrested 176 people under the provisions of the new law.

Demonstrators have been gathering in Montreal for just over 100 days to oppose tuition increases by the Quebec provincial government. On Tuesday, about 100 people were arrested after 150,000 people took the streets, according to some estimates."

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HP, not Printing money these days

HP to lay off 27,000, profit slides 31 percent - Yahoo! Finance: "Hewlett Packard Co plans to lay off roughly 27,000 employees or about 8 percent of its workforce over the next couple of years to jumpstart growth and save up to $3.5 billion annually, sending its shares 11 percent higher.
The company said the layoffs would be made mainly through early retirement and would generate annual savings of $3 billion to $3.5 billion as it exits fiscal year 2014, when the layoffs are expected to the completed."

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People who care and people who are in finance

U.S. News - Nurses (yes, nurses) lead charge for Wall Street 'sin' tax: "their pitch: impose a tax of 50 cents on every $100 of trades of stocks, bonds, dividends and other financial transactions, which are not currently taxed. The U.S. would join more than a dozen other nations that already have a financial transaction tax, according to National Nurses United (NNU).
"I've been asked many, many times ... 'What are you doing here as nurses? ... What do you have to do with the economy?'" Karen Higgins, a registered nurse and co-president of NNU, said to the crowd in Chicago's Daley Plaza.  "
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World's first Wikipedia town to launch in Wales - Yahoo! Finance

World's first Wikipedia town to launch in Wales - Yahoo! Finance: "LONDON (AP) -- A small Welsh town where English King Henry V was born is about to make history again by becoming the world's first "Wikipedia town."
Visitors from Saturday will be able to use smartphones to scan barcodes at points of interest in Monmouth in Wales' southeast, instantly bringing up a Wikipedia page about the landmark on their phones, in whatever language they are set to.
Wikimedia UK —which works to support, develop and promote Wikimedia Foundation projects such as Wikipedia — says hundreds of articles about the life and history of the town will be available online in more than 26 languages, from Hindi to Hungarian."

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Fudging Resumes, a perk for CXOs worldwide

One third of CXO aspirants in India Inc fudge resumes: Search firms - The Economic Times: "If Scott Thompson's unceremonious exit as CEO of Internet giant Yahoo last weekend, on charges of "embellishing academic credentials" in his CV, is shocking, here is a darker truth closer home. Five top executive search firms here agree that one in every three candidates they screen for CXO-level jobs in India Inc exaggerates or fudges information.

These search firms are yet to come across blatant falsification of academic credentials, but they routinely catch CXO-level job applicants lying on compensation, current roles and responsibilities.

"At least three out of 10 executives misstate information on compensation. Another area that gets inflated is roles and responsibilities," says Navnit Singh, the new chairman & country head at Korn/Ferry International. "

Lesson to NBC: Just because you can put on a show does not mean that you should!

Dish Network’s Auto Hop Cuts Ads and Causes Tremors at TV Upfronts - NYTimes.com: "“How does Charlie Ergen expect me to produce ‘CSI’ ” without commercials? asked Leslie Moonves, the chief executive of the CBS Corporation, in response to questions from reporters on Wednesday morning before his annual upfront presentation.

Ted Harbert, the chairman of NBC Broadcasting, struck a similar note at his network’s presentation on Monday, calling the Dish feature an insult to the television industry. “Just because technology gives you the ability to do something, does that mean you should? Not always,” he said.

Unlike the music and news businesses, television has been mostly successful at fending off technological challenges. Several network owners worked together to start Hulu, an online streaming Web site intended to curb piracy. This year, when a start-up called Aereo introduced a service to stream New York TV stations via the Internet, the stations banded together in filing two lawsuits to stall it. The lawsuits are pending."

Quality versus Quantity- applies to coffee and to longevity

Coffee buzz: Java drinkers live longer, big study finds; regular and decaf are equally good | StarTribune.com: "One of life's simple pleasures just got a little sweeter. After years of waffling research on coffee and health, even some fear that java might raise the risk of heart disease, a big study finds the opposite: Coffee drinkers are a little more likely to live longer. Regular or decaf doesn't matter.

The study of 400,000 people is the largest ever done on the issue, and the results should reassure any coffee lovers who think it's a guilty pleasure that may do harm.

"Our study suggests that's really not the case," said lead researcher Neal Freedman of the National Cancer Institute. "There may actually be a modest benefit of coffee drinking.""

Facebook IPO may zoom like a Corvette, sans GM

Market Day - GM to drop all advertising on Facebook - report: "In what could speak to Facebook’s viability as advertising medium just days before what is shaping up as a possible record initial public offering, General Motors says it will drop all paid advertising on the site, the Wall Street Journal is reporting.
According to the report, the auto giant's marketing executives "determined their paid ads had little impact on consumers."
GM marketing chief Joel Ewanick told the Journal that the automaker "is definitely reassessing our advertising on Facebook, although the content is effective and important.""

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What is the price of getting treatment, the free market way?

Protests in US over high pricing of Novartis' anti-cancer drug Glivec - The Economic Times: "MUMBAI: Health activists and cancer patients in the US have pounced on Swiss drug multinational Novartis for the high price of its famous, multi-billion dollar anti-cancer drug Glivec, a development which challenges pharma MNCs' claims of cheap access and affordability for patented drugs.

Such protests, which began first in Europe, and have now spread to the US, could make it more difficult for pharma MNCs in developing countries to convince sceptical governments and public to provide protection in the form of patents, analysts and health activists say."

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Nice chunk of change for getting fired....$6.6 million

Best Buy Chairman steps down after CEO probe - Yahoo! Finance: "Best Buy said Monday its founder Richard Schulze is stepping down as chairman after an investigation found that he knew that the CEO was having a relationship with a female employee and failed to alert the audit committee.
The company also said that despite the fact that its audit committee found that then-CEO Brian Dunn violated company policy by having a 'close personal relationship' with a female employee, he gets a severance package worth about $6.6 million."

Schools 'face talent drain' as morale of teachers dives | Education | The Observer

Schools 'face talent drain' as morale of teachers dives | Education | The Observer: "Morale among state school teachers is at "rock bottom", according to a former chief inspector of schools, who speaks out as unions warn that a "perfect storm" of government meddling threatens an exodus of talent from the profession.

Christine Gilbert, who resigned as head of Ofsted last year, said there was evidence of widespread disillusionment in schools despite the level of teacher professionalism being "better than ever".

Her comments come as a survey from the biggest teaching union, the NASUWT, reveals that nearly half of its 230,000 members have considered quitting in the last year, amid a collective crisis of confidence in the profession."

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Indebt(ed) to Education

Student loan blues - chicagotribune.com: "Two-thirds of college seniors graduated with loans in 2010, compared with fewer than half in 1993, according to the nonprofit Project on Student Debt in Oakland. Total debt loads have been rising about 5% a year, with the average graduate now on the hook for $25,250.

Last year, students took out $117 billion in new federal loans, pushing the total above $1 trillion, according to the Consumer Financial Protection Bureau.

A heavy student-debt load also weighs on decisions about careers. Celeste Knight, an 18-year-old UC Berkeley freshman, is considering becoming a social advocacy lawyer, but she worries that student loans could force her to look for a higher-paying job.

"I don't think everyone should be choosing a job based on 'Will my income be high enough to pay off my student loan?'" Knight said. "A whole generation of students is already so far in debt that even if you get a great-paying job, you're not going to live this great American standard of living.""

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Morality on sale

Too rich to queue? Why markets and morals don't fit | Books | The Guardian: "Long queues at airport security checkpoints make air travel an ordeal. But not everyone has to wait. Those with first- or business-class tickets can use priority lanes that take them to the front of the queue for screening. British Airways calls it Fast Track, a service that also lets high-paying passengers go first at passport and immigration control. But most people can't afford to fly first class, so the airlines have begun offering economy passengers the chance to buy queue-jumping privileges as an à la carte perk – at Luton Airport, for example, customers can pay £3 to go to the head of the security queue."

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Cocktails that are harmful- good data from EEA

Household chemicals' 'cocktail effect' raises cancer concerns for watchdog | Environment | The Guardian: "Europe's environmental watchdog, the European Environment Agency, has warned that products containing endocrine disrupting chemicals should be treated with caution until their true effects are better known. However, it stopped short of recommending a ban of any specific products. A few such chemicals have already been banned, but many are still in widespread use.

Jacqueline McGlade, executive director of the EEA, said: "Scientific research gathered over the last few decades shows us that endocrine disruption is a real problem, with serious effects on wildlife, and possibly people. It would be prudent to take a precautionary approach to many of these chemicals until their effects are more fully understood."

She singled out for particular scrutiny five classes of chemicals: phthalates, often found in pesticides; bisphenol A and other PCBs, used to make plastics and sometimes, controversially, used to make baby's feeding bottles; parabens, found increasingly in sunscreen; and the chemicals used in contraceptive pills."

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Dunkin...all the way to Donut Heaven in Delhi

Jubilant FoodWorks opens Dunkin' Donuts first store in India - The Economic Times: "NEW DELHI: Jubilant FoodWorks, the Indian distributor of Domino's Pizza, on Tuesday opened American doughnut brand Dunkin' Donuts first store in India, and plans to invest around Rs 12 crore to roll out 10 stores this fiscal.

"There will be a mix of flagship stores, stores in malls and kiosks," said Jubilant FoodWorks Limited (JFL) CEO Ajay Kaul during the opening of first store at Connaught Place in New Delhi, adding that the restaurants would be branded as 'Dunkin' Donuts & More' in the country.

Dunkin' Donuts will compete in India with companies such as Cafe Coffee Day, run by Amalgamated Bean Coffee Trading Co., Lavazza SpA's Barista Coffee Co., and Starbucks Corp., which plans to open its first India store in August through its partnership with Tata Global Beverages."

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A kick in the "Bott"om line for Abbott, but investors reward it

Abbott to pay $1.6B to settle Depakote claims - chicagotribune.com: "Abbott Laboratories will pay $1.6 billion to settle federal and state claims that it improperly marketed the neurologic medication Depakote for off-label uses, the company said Monday.

Abbott will pay $800 million to resolve civil allegations split among federal and state governments, $700 million in criminal penalties and $100 million to states to resolve consumer protection matters, the North Chicago-based company said.

Abbott said in previous filings with the Securities and Exchange Commission that it had earmarked $1.5 billion for a potential settlement.

Shares of Abbott were up 30 cents, at $62.71, in mid-day trading.
"

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Loyola University eliminates bottled water sales

Loyola University eliminates bottled water sales - Yahoo! Finance: "CHICAGO (AP) -- Loyola University in Chicago is ridding its campus of bottled water.
School officials say bottled water will no longer be sold anywhere on campus starting in 2013.
A referendum was passed by students last week to phase out bottled water sales and reduce the university's environmental footprint. Students launched a year-long campaign to eliminate bottled water sales and draw attention to water conservation.
Officials say the goal of the campaign was to address issues of local water privatization and fair access to water globally."

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A Supreme Court that's not Plastic

The Hindu : News / National : ‘Why not ban plastic bags?’: "The Supreme Court on Monday issued notice to the Centre and all the state governments on a plea seeking complete ban on use of plastic bags in the country.

A bench headed by Justice G.S. Singhvi also impleaded all the plastic manufacturing companies in the case and also sought the government’s response to put in place a proper mechanism for disposal of used plastic bags.

The apex court passed the order on a PIL filed by NGOs, seeking its direction to government to ban the use of plastic bags alleging that these are not disposed properly and are eaten by animals which get stuck in their stomach."

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Government avoids right action

India delays tax avoidance laws - FT.com: "India will delay the introduction of wide-ranging proposed tax avoidance laws by one year, in a move designed to placate international investors worried over increasingly erratic legal changes.
In the latest in a series of delays and policy reversals, Pranab Mukherjee, the finance minister, confirmed in parliament that the introduction of the general anti-avoidance rules (GAAR) would be deferred until April 2013."

Facebook ads

Facebook’s Premium Ad Prices Still Rising - US Business News - General * US * News * Story - CNBC.com: "Pricing for Facebook’s premium “social” advertisements continues to rise, two recent studies have found—a positive indicator that could offset concerns about a dip in advertising growth and help sentiment towards the internet company’s initial public offering.

A report to be released on Monday by Marin Software, a digital marketing platform that processes more than $100 million worth of spending on Facebook, found a 26 percent increase over the last year in the cost per click for “premium” ad formats such as Sponsored Stories, which highlight friends’ “likes”, comments and other endorsements of brands’ activity on the site.

However, Marin’s report also found the cost per click for Facebook’s standard ads, which make up an estimated three-quarters of the social network’s advertising revenues, fell 26 percent over the last year.

Facebook will this week begin a roadshow to convince potential investors that its business is worth up to $96 billion in its initial public offering later this month."

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Public Verdict is in: Government spending KOs Austerity policies

Market Day - Europe to weigh heavily on markets this week: "Updated at 10:20 p.m. ET: NEW YORK -- After Wall Street's worst week of the year, U.S. stocks are facing more selling after elections in Europe swept aside leaders that had pursued strict budgetary reforms in the euro zone largely favored by investors.
S&P 500 futures fell Sunday evening after results from the Greek and French elections, with the market in line for a 1 percent fall at Monday's open.
Markets worldwide have closely watched developments in Europe, which has struggled with weak economic growth and high debt levels.
While the victory of Socialist candidate Francois Hollande in France's presidential elections had been expected, Greek voters trounced ruling parties, a surprise result that put the country's future in the euro zone at risk"

A World divided: When the "Almighty" markets do not understand the "majority" verdicts

Market Day - Europe to weigh heavily on markets this week: "Updated at 10:20 p.m. ET: NEW YORK -- After Wall Street's worst week of the year, U.S. stocks are facing more selling after elections in Europe swept aside leaders that had pursued strict budgetary reforms in the euro zone largely favored by investors.
S&P 500 futures fell Sunday evening after results from the Greek and French elections, with the market in line for a 1 percent fall at Monday's open.
Markets worldwide have closely watched developments in Europe, which has struggled with weak economic growth and high debt levels.
While the victory of Socialist candidate Francois Hollande in France's presidential elections had been expected, Greek voters trounced ruling parties, a surprise result that put the country's future in the euro zone at risk"

Eco-growth

It's green growth or nothing | Chris Huhne | Comment is free | The Guardian: "Much of our economic debate implies we must choose between going green or going for growth. That view may be the opposite of the truth. There is now hard evidence that the real choice is between green growth or no growth at all.

For the first time in the postwar period, energy and other commodity prices are unusually high for this point of the global recovery. Normally the cost of basic materials falls in real terms for at least two years after a recovery begins. In the past, this boosted real incomes, supported spending and fuelled recovery."

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Changing the face of education, through experimentation

IIM Ranchi experiments with online classrooms - The Economic Times: "MUMBAI: The Indian Institute of Management (IIM), Ranchi is experimenting with a plan to offer virtual classrooms to students sitting in their hostels. The lectures will be broadcast live and students who are in a big way into social networks will need to log in through a desktop or laptop to attend classes.

IIM Ranchi will provide laptops or tablet computers with biometric sensors and cameras that would help students interact with the faculty. Students would be required to register their thumb impression using the biometric sensor every half an hour, to help keep a check on them. "

An extra 15 minutes will be provided after every lecture for the students to take notes. These would then be compared to a set of key words that the faculty would have prepared for that particular lecture. The student's learning and the lecturer's key words should match or marks will be deducted. IIM Ranchi has decided to keep 70% of the marks for 'virtual classroom participation' and only 30 percent for the exams.

The virtual classroom will also allow students to ask questions and get answers immediately as in a real classroom. The institute is likely to experiment with virtual classrooms for the executive MBA programme as well. Over time, the programme will ensure that students of the executive programme do not visit the campus at all and attend lectures from wherever they are.

IIM Ranchi has not invested any funds in the venture and according to a deal with electronic dealers, IIM Ranchi will not be charged but the technology will be replicated for others in future. IIM Ranchi will have to transform the classroom into a high-tech one.

It's profitable to falsify your resume....if you are a CEO or Chief Exaggerating Officer

Yahoo confirms misleading info on new CEO's resume – USATODAY.com: "Loeb, whose fund Third Point owns a 5.8% stake in Yahoo, gained more leverage when he discovered Thompson doesn't have a bachelor's degree in computer science from a small college in Easton, Massachusetts, as Yahoo stated in a regulatory filing last week.
Thompson only has an accounting degree from Stonehill College, an accomplishment that Yahoo also listed in the filing. The accounting degree was the only one listed in Thompson's resume last year by eBay Inc. when he was still running that company's PayPal payment service. He graduated in 1979, according to Stonehill's website.
Yahoo confirmed Thompson's credentials had been exaggerated in the recent filing with the Securities and Exchange Commission. The company, which is based in Sunnyvale, California, brushed off the distortion as an "inadvertent error."
But Loeb pounced on the misinformation as a violation of Yahoo's code of ethics and called for an independent investigation to determine whether Thompson had misled the company's board about his technology credentials. He also cited the mix-up as an example of Yahoo's poor corporate governance."

A class act by President McAleese

McAleese returns more than €500,000 in allowances - The Irish Times - Thu, May 03, 2012: "FORMER PRESIDENT Mary McAleese has voluntarily returned more than €500,000 to the State in personal allowance funds that she did not use during her two terms in office.

There were no conditions imposed for the use of these funds and no obligation on Mrs McAleese to return any unused sums during or at the end of her 14 years in the post.

The Presidential Allowance is provided to the head of state to cover certain costs associated with the office including all official hospitality at the residence, Áras an Uachtaráin.

This includes dinners, lunches, receptions, garden parties and visits by other heads of state, such as Britain’s Queen Elizabeth and US president Barack Obama."

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CEOs rewarding themselves- handsomely

American CEOs enjoy 15% pay rise in second year of double-digit hikes | Business | guardian.co.uk: "America's top bosses have handed themselves double-digit pay rises for the second year in a row, according to interim figures from the most comprehensive survey of CEO pay.

The Guardian's exclusive first look at the research by GMI Ratings reveals that rising share prices helped drive a 15% pay hike for the average US CEO in 2011, with the average compensation package hitting $5.8m.

It comes on the back of a 28% pay rise the year before. The two years of double-digit growth follow two years of decline in 2008 and 2009.

The boom time for chief executives contrasts sharply with the wider economy, where average wages have been little better than flat. A compensation survey by Mercer found US employers planned average increase in base pay of 3% in 2012. Inflation is about 2.7%."

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A questioning approach to evaluation and assessment

GCSE and A-levels are easier, Ofqual finds | Education | The Guardian: "GCSE and A-level exams have become easier over the past few years, a review has found, prompting the government to warn of a gradual decline in standards.

The qualifications regulator, Ofqual, compared question papers in biology and chemistry GCSEs, and biology, chemistry and geography A-levels between 2003 and 2008, and 2001 and 2010.

The papers from 2008 and 2010 were far more likely to demand less of teenagers than those from 2001 and 2003, the regulator found, as they had more multiple-choice questions and fewer essay questions. In the case of chemistry A-level many more questions were at GCSE level in 2008 than they were in 2003. The review comes amid growing fears that the exam system is failing to prepare teenagers for degree study.

Glenys Stacey, chief executive of Ofqual, recently said it was impossible to justify year-on-year grade inflation in A-level results. She told the Sunday Telegraph: "If you look at the history, we have seen persistent grade inflation for these key qualifications for at least a decade. [It] is virtually impossible to justify and it has done more than anything to undermine confidence in the value of those qualifications.""

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