She wrote a story in the WSJ that exposed a huge amount of dissention between HP's Board of Directors and CEO. Imagine how you would feel if someone wrote a story about a bad report card or annual review you'd gotten. One of the directors was leaking info to the press so HP began investigating who the leaker was. Neither side was in the right, and all sides should have known better. Part of the problem was business leaders were terribly mysogynistic toward the first women stars who entered the business world so those women generally overcompensated projecting their toughness and were on opposite sides in this fight so things escalated pretty quickly.
You don't have to grow it all here. Sugar is expensive because congress only lets people import a small amount. Exhibit A--the world price of sugar
http://www.futuresource.com/quotes/quotes.jsp?s=SB
in cents per pound
Exhibit B--the US price of sugar
http://www.futuresource.com/quotes/quotes.jsp?s=SE
Corn Syrup costs somewhere inbetween those two amounts, which is why Coke tastes different (I'd say better) if you drink it outside this fine nation.
7 up is a product of Cadburry Scheppes, not Coke. It seems to be distributed by Coke bottlers in portions of the country and Pepsi bottlers in other parts leading to some of the confusion. Natural just means it comes from a plant or animal rather than typically oil. An interesting piece of this is that the chemical that gives almonds their flavor (benzaldehyde) can be extracted from nuts or created through a reaction. In either case it's the same flavoring compound, but if it's made in the lab it's pure (and artificial) if extracted it contains a small amount of hydrogen cyanide (but natural), but if you ask folks the natural one sounds so much safer. In both cases they come from a chemical plant and neither comes from an almond.
The crux of the matter is we set it all up, but they've been running it for about 30 years. A simple model of an oilfield is a slurpee (only you want the juice and when it's just ice it's all gone). If you suck too hard on the straw your juice in the local area is gone and all you have is dry ice. You can't stir and replunging your straw in a new area costs about $10 million. One way to deal with this is sending hot steam down near your well to loosen things up and allow more oil to flow. Simmons went through all the data publicly available and came to the conclusion that the Saudi's have done a lot more of pressurized extraction than they admit to and they have lower reserves than they are telling everyone that they have (and no one exept those who run the Saudi oil company know if he is right or wrong). Probably only time will tell if he was correct or incorrect.
Also, the Saudi's more recently added production has all been heavy sour crude (and it also trades at a sharp discount to Indonesian, WTI and Brent light sweet crudes). You are correct that there has been a substantial widening of the spread between the grades.
IBM's about as straight a company I know of and the senior project managers I've spoken with said that they usually figure on about 6 productive hours/day per person.
The DC campaign. I liked the idea, but I preferred the execution of it in the Rome/Shogun/Middle Ages:Total War where you had a bigger map and more strategic movement between your skirmishes. It was still pretty fun to play even if you autoresolved all the battles.
I think you are thinking as an absolute dictator who owns the resource fully. The House of Saud mostly holds onto power because of the US backing (because they have the oil). This has been the case since WWII, FDR worked out the original deals. If the US stops needing Saudi oil, the house of Saud falls hard and fast (remember Osama's original goal was to remove them and the infidel troops from Saudi Arabia). Most people who want to hold on to power keep their protectors happy.
Sugar cane grows in two areas of the US reliably well, Hawaii and Florida. It probably wouldn't be grown as widely in those two areas, if it weren't for the import quotas that keep the US price for sugar about 50% above the world price. Brazil is energy independant due to a decent amount of production and very low energy use per person (the average American uses 5x the energy of the average Brazillian). To replace the same 15% of our energy needs that Brazil is getting from sugar cane we would need to be growing sugar cane on 400,000 sq km. or about 25% of our arable land (roughly the size of Montana). That and US domestic prodution would total a little more than 1/3 of our total oil usage.
From my understanding throughout the 20th century we've always had about 40 years of production in known reserves. The only valid arguement for peak oil is that the Saudis have been lying through their teeth about their reserves (the Matt Simmons arguement). He makes a good case, and certainly knows more about oil extraction than most of us.
They have energy independance because they found a bunch of oil off their coast. The E85 helped but contributes only a modest amount (just under 15% or so of oil use) to their overal fuel use. Also, corn is much less efficient at converting solar energy to ethanol, so the US would be relying on imported sugar or ethanol anyway. Brazil is only declaring energy independance because they also have a plentiful cheap resource today, namely petroleum.
Didn't you get the memo? The oil ran out in 1963, the fuel you put in your car and petrol you think is coming from the ground is all the product of a conspiracy that ExxonMobil cooked up with the Rand Corporation and Carslyle Group (under the auspices of the Trilateral Commission and Council on Foreign Relations).
Covert Action was the first PC game I ever got, not much like running in terror from the 15 red dots because this was supposed to be a simple knock and walk not an arrest, oops.
Crazy fun game, I still remember some of the harry night terror missions. You can always fund your warfare via the black market. Your engineers will pay for themselves building Alien Alloys or Laser Rifles (I think these were one of the highest returning things to build based on the hours used and price until very late in the game) from nearly the beginning. After that you can make one of the later weapons to fund essentially endless warfare (As long as you don't ask about who is financing your efforts). Good base location (Europe--near Austria or Switzerland is generally better than the US for that first base (and don't build a second one too soon unless it's just a listening post) will help to preserve that cash flow. Crazy fun game though.
I'd put The Same Game high on my list but every time I play it again it becomes an addiction. My list is Master of Orion, Elite/Sequels, Pirates! Gold, Super Mario Bros, and Tetris.
Granted, the models will probably never be as complex as the people's decisions they are modeling, while I think neuroscience holds some promise I'm not going to hold my breath. You seem to think that because something can be observed but not explained it shouldn't exist. All I'm saying is that there is a real risk that ones neighbor will do something on their property that will tangibly reduce your home's value and that painting ones door clashing green is a good indicator of an increased risk. Did the risk actually increase? I don't know, but I do know that it isn't generally worth a statistical anaysis of the correllation between clashing doors and more costly externalities relative to the size of the discount nor the costs imposed by a home owners association. Economics isn't a pure science nor does it generally strive to be, it's squishy because it's goal is to garner insights into why people make decisions (even sometimes when they can't or won't tell you why they just made them). The only reason it's studied as anything more than a curiousity is that most of the time there is a wide split between a percieved risk and the actual risk, and knowing the error leads to a method to earn a return while reducing the gap.
I think it comes from the fact that the discovery of quantum mechanics turned was a major shift from classical physics. It was a major leap forward, even though the subject of the leap was very tiny.
He's looking to make a venture capital investment not probably buy the company. I'd guess he's shooting for something in the neighborhood of 20-50% ownership depending on any resources your firm would begin with and how far the technology is when you make the pitch. That leaves you with an additional 50-80% of the company to sell if you need more resources to complete the project (more importantly the share of the company you'd sell in later rounds should decline and the funds raised might increase).
Misvalued doesn't mean non-existant, but it does mean that you can make money on it. It's actually pretty rare that the option exactly prices the risk, because most people dislike most types of risk, so accepting it for them usually means you will make money in the long run (insurance is a great business). Certain risk payoff structures however are highly attractive and allow you to make more money selling the risk (so are casinos). If you like, this one is quite simple to convert, just buy up all the houses in a neighborhood that are unduly discounted by having a HOA and remove the homeowners association then sell them for a profit. You could even use those handy dandy housing futures to offload the general change in the price of homes so that your profits came just from this venture.
Why wouldn't you consider the potential cost of any non-zero potential hypothetical? The option value needn't be large because it's spread to many homes and the value of painting ones door green is generally relativly minor. Do you carry any insurance? That's an option, too. Neither you nor the insurance company knows what will happen to what's being insured, but it certainly isn't free.
Option value is real, it's the price of risk. A buyer doesn't know if your neigbor is a selfish boor, color blind, or something completely unexpected when they have a green door. More importantlyit's costly for a potential buyer to learn the answer out. There is a risk that living there will be less pleasant than living in a different neighborhood or selling the house will be more expensive, so the price they pay relative to a home in a neighborhood where that is supressed is reduced.
The difference is subtle but very real between the perception of risk and just the buyer thinks that a green door lowers property values.
Economicaly, it creates negative option value. In short, it raises concern that the homeowner who would paint their door a clashing color might do something that would more directly impact the peace and comfort of your fine abode.
Not officially, but what is a government? An organization created by people that is transferred rights normally held by the members for the mutual benefit of its members. These are governments little different than a city council or zoning board in practice.
Here's an example of rates in the only area I know that has these sorts of rates.
http://www.chelanpud.org/rates.html They don't have competing generators (and in their case both generation and distribution are essentially covering fixed costs). Power's cheap in parts of the Northwest (which is why Google, Yahoo, and Microsoft are all building data centers there).
If the wind stopped you'd have to smell the cows at that monster feedlot, so be careful what you wish for! Ironically it's steady wind that is best for generation rather than tree blowing over gusts. The gorges by the river are a pretty frequent likely location for wind generation, but most of the area could care less with the dams providing essentially free power anyway.
Slashdot Mirror
She wrote a story in the WSJ that exposed a huge amount of dissention between HP's Board of Directors and CEO. Imagine how you would feel if someone wrote a story about a bad report card or annual review you'd gotten. One of the directors was leaking info to the press so HP began investigating who the leaker was. Neither side was in the right, and all sides should have known better. Part of the problem was business leaders were terribly mysogynistic toward the first women stars who entered the business world so those women generally overcompensated projecting their toughness and were on opposite sides in this fight so things escalated pretty quickly.
You don't have to grow it all here. Sugar is expensive because congress only lets people import a small amount. Exhibit A--the world price of sugar http://www.futuresource.com/quotes/quotes.jsp?s=SB
in cents per pound
Exhibit B--the US price of sugar
http://www.futuresource.com/quotes/quotes.jsp?s=SE
Corn Syrup costs somewhere inbetween those two amounts, which is why Coke tastes different (I'd say better) if you drink it outside this fine nation.
7 up is a product of Cadburry Scheppes, not Coke. It seems to be distributed by Coke bottlers in portions of the country and Pepsi bottlers in other parts leading to some of the confusion. Natural just means it comes from a plant or animal rather than typically oil. An interesting piece of this is that the chemical that gives almonds their flavor (benzaldehyde) can be extracted from nuts or created through a reaction. In either case it's the same flavoring compound, but if it's made in the lab it's pure (and artificial) if extracted it contains a small amount of hydrogen cyanide (but natural), but if you ask folks the natural one sounds so much safer. In both cases they come from a chemical plant and neither comes from an almond.
The crux of the matter is we set it all up, but they've been running it for about 30 years. A simple model of an oilfield is a slurpee (only you want the juice and when it's just ice it's all gone). If you suck too hard on the straw your juice in the local area is gone and all you have is dry ice. You can't stir and replunging your straw in a new area costs about $10 million. One way to deal with this is sending hot steam down near your well to loosen things up and allow more oil to flow. Simmons went through all the data publicly available and came to the conclusion that the Saudi's have done a lot more of pressurized extraction than they admit to and they have lower reserves than they are telling everyone that they have (and no one exept those who run the Saudi oil company know if he is right or wrong). Probably only time will tell if he was correct or incorrect.
Also, the Saudi's more recently added production has all been heavy sour crude (and it also trades at a sharp discount to Indonesian, WTI and Brent light sweet crudes). You are correct that there has been a substantial widening of the spread between the grades.
IBM's about as straight a company I know of and the senior project managers I've spoken with said that they usually figure on about 6 productive hours/day per person.
The DC campaign. I liked the idea, but I preferred the execution of it in the Rome/Shogun/Middle Ages:Total War where you had a bigger map and more strategic movement between your skirmishes. It was still pretty fun to play even if you autoresolved all the battles.
Pretty solid game, I wish the campaign were bigger (more like the total war series) but can't complain too much.
I think you are thinking as an absolute dictator who owns the resource fully. The House of Saud mostly holds onto power because of the US backing (because they have the oil). This has been the case since WWII, FDR worked out the original deals. If the US stops needing Saudi oil, the house of Saud falls hard and fast (remember Osama's original goal was to remove them and the infidel troops from Saudi Arabia). Most people who want to hold on to power keep their protectors happy.
Sugar cane grows in two areas of the US reliably well, Hawaii and Florida. It probably wouldn't be grown as widely in those two areas, if it weren't for the import quotas that keep the US price for sugar about 50% above the world price. Brazil is energy independant due to a decent amount of production and very low energy use per person (the average American uses 5x the energy of the average Brazillian). To replace the same 15% of our energy needs that Brazil is getting from sugar cane we would need to be growing sugar cane on 400,000 sq km. or about 25% of our arable land (roughly the size of Montana). That and US domestic prodution would total a little more than 1/3 of our total oil usage.
Shh, everyone's going to want to eat it if the word gets out.
From my understanding throughout the 20th century we've always had about 40 years of production in known reserves. The only valid arguement for peak oil is that the Saudis have been lying through their teeth about their reserves (the Matt Simmons arguement). He makes a good case, and certainly knows more about oil extraction than most of us.
They have energy independance because they found a bunch of oil off their coast. The E85 helped but contributes only a modest amount (just under 15% or so of oil use) to their overal fuel use. Also, corn is much less efficient at converting solar energy to ethanol, so the US would be relying on imported sugar or ethanol anyway. Brazil is only declaring energy independance because they also have a plentiful cheap resource today, namely petroleum.
Didn't you get the memo? The oil ran out in 1963, the fuel you put in your car and petrol you think is coming from the ground is all the product of a conspiracy that ExxonMobil cooked up with the Rand Corporation and Carslyle Group (under the auspices of the Trilateral Commission and Council on Foreign Relations).
Covert Action was the first PC game I ever got, not much like running in terror from the 15 red dots because this was supposed to be a simple knock and walk not an arrest, oops.
Crazy fun game, I still remember some of the harry night terror missions. You can always fund your warfare via the black market. Your engineers will pay for themselves building Alien Alloys or Laser Rifles (I think these were one of the highest returning things to build based on the hours used and price until very late in the game) from nearly the beginning. After that you can make one of the later weapons to fund essentially endless warfare (As long as you don't ask about who is financing your efforts). Good base location (Europe--near Austria or Switzerland is generally better than the US for that first base (and don't build a second one too soon unless it's just a listening post) will help to preserve that cash flow. Crazy fun game though.
I'd put The Same Game high on my list but every time I play it again it becomes an addiction. My list is Master of Orion, Elite/Sequels, Pirates! Gold, Super Mario Bros, and Tetris.
Granted, the models will probably never be as complex as the people's decisions they are modeling, while I think neuroscience holds some promise I'm not going to hold my breath. You seem to think that because something can be observed but not explained it shouldn't exist. All I'm saying is that there is a real risk that ones neighbor will do something on their property that will tangibly reduce your home's value and that painting ones door clashing green is a good indicator of an increased risk. Did the risk actually increase? I don't know, but I do know that it isn't generally worth a statistical anaysis of the correllation between clashing doors and more costly externalities relative to the size of the discount nor the costs imposed by a home owners association. Economics isn't a pure science nor does it generally strive to be, it's squishy because it's goal is to garner insights into why people make decisions (even sometimes when they can't or won't tell you why they just made them). The only reason it's studied as anything more than a curiousity is that most of the time there is a wide split between a percieved risk and the actual risk, and knowing the error leads to a method to earn a return while reducing the gap.
I think it comes from the fact that the discovery of quantum mechanics turned was a major shift from classical physics. It was a major leap forward, even though the subject of the leap was very tiny.
He's looking to make a venture capital investment not probably buy the company. I'd guess he's shooting for something in the neighborhood of 20-50% ownership depending on any resources your firm would begin with and how far the technology is when you make the pitch. That leaves you with an additional 50-80% of the company to sell if you need more resources to complete the project (more importantly the share of the company you'd sell in later rounds should decline and the funds raised might increase).
Misvalued doesn't mean non-existant, but it does mean that you can make money on it. It's actually pretty rare that the option exactly prices the risk, because most people dislike most types of risk, so accepting it for them usually means you will make money in the long run (insurance is a great business). Certain risk payoff structures however are highly attractive and allow you to make more money selling the risk (so are casinos). If you like, this one is quite simple to convert, just buy up all the houses in a neighborhood that are unduly discounted by having a HOA and remove the homeowners association then sell them for a profit. You could even use those handy dandy housing futures to offload the general change in the price of homes so that your profits came just from this venture.
Why wouldn't you consider the potential cost of any non-zero potential hypothetical? The option value needn't be large because it's spread to many homes and the value of painting ones door green is generally relativly minor. Do you carry any insurance? That's an option, too. Neither you nor the insurance company knows what will happen to what's being insured, but it certainly isn't free.
Option value is real, it's the price of risk. A buyer doesn't know if your neigbor is a selfish boor, color blind, or something completely unexpected when they have a green door. More importantlyit's costly for a potential buyer to learn the answer out. There is a risk that living there will be less pleasant than living in a different neighborhood or selling the house will be more expensive, so the price they pay relative to a home in a neighborhood where that is supressed is reduced.
The difference is subtle but very real between the perception of risk and just the buyer thinks that a green door lowers property values.
Economicaly, it creates negative option value. In short, it raises concern that the homeowner who would paint their door a clashing color might do something that would more directly impact the peace and comfort of your fine abode.
Not officially, but what is a government? An organization created by people that is transferred rights normally held by the members for the mutual benefit of its members. These are governments little different than a city council or zoning board in practice.
Here's an example of rates in the only area I know that has these sorts of rates. http://www.chelanpud.org/rates.html They don't have competing generators (and in their case both generation and distribution are essentially covering fixed costs). Power's cheap in parts of the Northwest (which is why Google, Yahoo, and Microsoft are all building data centers there).
If the wind stopped you'd have to smell the cows at that monster feedlot, so be careful what you wish for! Ironically it's steady wind that is best for generation rather than tree blowing over gusts. The gorges by the river are a pretty frequent likely location for wind generation, but most of the area could care less with the dams providing essentially free power anyway.