An armed carjacker, whom police described as having “leathery skin,”
failed to rob three women in the same shopping center parking lot in
Oceanside, Calif. The first drove away. The other ignored him and
proceeded to a store, where she called police. The third victim obeyed
his order to remove the steering wheel lock and get out of the car,Site
describes services including Plastic Mould.
but then she activated a kill-switch that disabled the ignition and
locked him inside. He smashed through a window and fled on foot.
Security
researchers exposed plans for a Russian cyberheist using fake wire
transfers to steal millions of dollars from 30 big U.S. financial
institutions when the purported brain behind the operation, known as
“VorVzakone”, posted notices in a criminal online forum advertising for
accomplices. Cybersecurity experts at Massachusetts-based RSA blogged
that VorVzakone’s notice said “accomplice botmasters” would be trained
“boot camp style” and receive “a percentage of the funds they will
siphon from victims’ accounts into mule accounts controlled by the
gang.”
The Iowa Supreme Court ruled that bosses could fire
workers they see as an “irresistible attraction,” even if the employees
haven’t engaged in flirtatious behavior or made other advances. The case
involved a dentist who fired an assistant that he and his wife decided
was a threat to their marriage.
Doctors at the Golden Jubilee
Hospital in Clydebank, Scotland, saved a man who overdosed on Brussels
sprouts on Christmas. They said the traditional holiday vegetable
contains plenty of vitamin K,We've had a lot of people asking where we
had our make your own bobblehead
made. which counteracted the effect of anticoagulants the man was
taking because he had a mechanical heart. “We think this is possibly the
first-ever admission to hospital caused by the consumption of Brussels
sprouts,” hospital chief executive Jill Young said.wind turbine
Police
revoked the concealed-carry permit of Gary Quackenbush, 61, after he
wriggled in his seat while watching a movie in Tillamook, Ore., and
shook loose a loaded weapon. A seventh-grade student found the weapon
the next day with a round in the chamber and the safety off. “In a time
of crisis, like somebody barging into a mall or a theater, you don’t
have time to do a two-handed cocking of the weapon,” Quackenbush
explained in a brief letter to the local news media after the incident.
“It is my mindset everywhere I go.” His letter noted that the movie,
“The Hobbit,” was “overly long and fairly boring.”
The number of
people seeking hospital treatment after consuming energy drinks has
doubled in the past four years, according to a government survey,
jumping to an estimated 20,000 cases. The Substance Abuse and Mental
Health Services Administration said most cases involved teens and young
adults. “A lot of people don't realize the strength of these things,”
Howard Mell,Manufactures and supplies laser marker equipment. an emergency physician in suburban Cleveland, said.Laser engravers and laser engraving machine
systems and supplies to start your own lasering cutting engraving
marking etching business. “I had someone come in recently who had drunk
three energy drinks in an hour, which is the equivalent of 15 cups of
coffee,”
Falling furniture killed 349 Americans between 2000 and
2011, according to the U.S. Consumer Product Safety Commission (CPSC.
It estimated that tipped-over items, mostly television sets, injure
about 43,000 people a year, 59 percent of whom are children climbing,
hitting or kicking them or playing nearby. “Small children are no match
for a falling dresser, wall unit or 50- to 100-pound television,” the
CPSC said.
After Lynette Lee told police in Clarksville, Tenn.,
that a man she met online raped her, she admitted lying. The
investigating detective reported she said they’d been on a date and had
consensual sex, but she claimed rape because “she did not enjoy it, and
it was bad.”
Sheriff’s deputies who arrested Jennie Scott, 50,
for battering her 32-year-old boyfriend explained she attacked him
because the two “were giving each other pleasure in the bedroom” and he
“finished first and stopped pleasuring her.”
A judge acquitted
Dalton, N.H., Town Clerk Sandy York of taking $100 from town funds after
Police Chief Mario Audit admitted he never checked to see if any money
was actually missing. Although a security video showed York putting cash
in her pocketbook, Audit never asked her for an explanation, but
witnesses testified that York often took large bills to the bank after
closing the office to get smaller bills to make change. An accounting
showed no shortage.
Police at the scene of a fatal accident in
Oklahoma City arrested Thomasine Harjo, 25, after she drove past
officers and crime scene tape. Several officers tried to get her to
stop, but she ignored them and nearly hit one of them. When she finally
stopped, officers smelled alcohol, but she denied drinking. When they
asked her why she didn’t stop when she saw the barricade, she told them
she was following the car in front of her, although no other vehicle was
in the area. When they arrested Harjo, she said she couldn’t go to jail
because she had to appear in court the next morning for driving under
the influence.
After a third-grade student at a school outside
Calgary was found unconscious stuck in the door of a washroom stall with
a lanyard around his neck, Alberta authorities banned lanyards in all
its 2,000 schools. The lanyards were used for hall passes, washroom
passes and identification.
2013年1月28日 星期一
Credit Unions May Gain Mobile Payments
The country's largest credit union service organization,wind turbine
with about 1,400 credit union participants in its shared branch program
totaling about 4,400 branches, has extended components of the shared
branching model to digital commerce, using centralized processing
resources to allow credit union consumers to access mobile payments and
other digital capabilities.
In this model, a consumer's account, routing and transit numbers can be used to accept and process transactions among the large network of credit unions, similar to the way a consumer who is a member of one credit union can walk into the branch of another credit union and perform banking transactions. Only in this case, the consumer is using mobile banking to transfer funds, execute a person-to-person payment, access digital banking at a branch, or make a deposit via a mobile remote deposit capture app that's downloaded from CO-OP's shared tech bench and processed via the centralized network.
"We've even simplified it to the point where a consumer doesn't have to put a routing or transfer number into the credit union's mobile device to execute a transaction. The member just has to pick a credit union name from the list of participants, put in the account number and we're off and running," says Jim Hanisch, executive vice president of network operations and corporate development for CO-OP.
CO-OP's electronic payments processing business has already been expanding. It established new annual, monthly and daily transaction volume records in 2012. It processed 2.5 billion transactions for the year,Laser engravers and laser engraving machine systems and supplies to start your own lasering cutting engraving marking etching business. a 13.6% increase from 2011, including cardholder debit, credit, ATM and shared branch payments. It hopes that by offering a simple way to execute mobile transactions, that growth will increase further, as will its ability to offer cross-institutional transaction capabilities not available in banking.
"Shared branching is a stable, slow growth type of business. We're not only capturing the deposit items, but we've also got a couple of pilots going in person-to-person payments and have a huge effort in teller automation," says Hanisch.
The shared branch model has been used by CO-OP to centralize credit union and intra-credit union commerce for decades. Hanisch says that if you were "look under the covers," the CO-OP digital banking model operates similar to an electronic funds transfer switch, or a means to capture, authorize and route payment initiated by different payment modes. "The difference is that rather than being activated with a card and PIN, the member's routing number, transit and account number are used.Manufactures and supplies laser marker equipment. That's something the banking industry doesn't have yet — a standardized way [across institutions] to electronically access an account in an online manner in real time using routing, transit and account numbers."
CO-OP, which is also accelerating its chip and PIN migration, uses mobile banking technology provided by mFoundry and handles its transaction processing in-house. Hanisch says that while mobile transactions are not a huge portion of CO-OP's processing business right now, CO-OP should be well-positioned to take advantage of growth in mobile commerce. He says that even though the transaction has been acquired in a nontraditional manner such as a mobile device, processing takes place though CO-OP's existing processing system. "Whether the transaction is acquired through a Square terminal or a dial up terminal, there's really no material processing difference from our perspective," he says.
CO-OP,We've had a lot of people asking where we had our make your own bobblehead made. which is also accelerating its chip and PIN migration, uses mobile banking technology provided by mFoundry and handles its transaction processing in-house. Hanisch says that while mobile transactions are not a huge portion of CO-OP's processing business right now, CO-OP should be well-positioned to take advantage of growth in mobile commerce. He says that even though the transaction has been acquired in a nontraditional manner such as a mobile device, processing takes place though CO-OP's existing processing system. "Whether the transaction is acquired through a Square terminal or a dial up terminal, there's really no material processing difference from our perspective," he says.
On opening the flap, you have a backlit chiclet keyboard which is quite pleasing. You cannot adjust the brightness, but can turn the backlight on or off. The keys are well-spaced and have ample travel. It lacks a dedicated number pad.
There is sufficient space for the palm rest and you will find a spacious single-slab trackpad. Although we aren’t great fans of single slab trackpads as it gets tricky when it comes to actual clicking, the Aspire V5’s trackpad supports soft touch which is quite a relief, so you don’t need to press hard on the track pad to register a response except maybe when you right-click.Site describes services including Plastic Mould.
The 14-inch touchscreen is a finger-print / smudge magnet and that becomes very evident while your screen is dark. It has edge-to-edge screen, but the bezel around the base and top is much thicker than those on the sides. The response is quite fluid but at times when you apply a little pressure while playing games or while swiping, you will notice that some ripples around the edges which are caused due to the different layers of the panel touching each other.
In this model, a consumer's account, routing and transit numbers can be used to accept and process transactions among the large network of credit unions, similar to the way a consumer who is a member of one credit union can walk into the branch of another credit union and perform banking transactions. Only in this case, the consumer is using mobile banking to transfer funds, execute a person-to-person payment, access digital banking at a branch, or make a deposit via a mobile remote deposit capture app that's downloaded from CO-OP's shared tech bench and processed via the centralized network.
"We've even simplified it to the point where a consumer doesn't have to put a routing or transfer number into the credit union's mobile device to execute a transaction. The member just has to pick a credit union name from the list of participants, put in the account number and we're off and running," says Jim Hanisch, executive vice president of network operations and corporate development for CO-OP.
CO-OP's electronic payments processing business has already been expanding. It established new annual, monthly and daily transaction volume records in 2012. It processed 2.5 billion transactions for the year,Laser engravers and laser engraving machine systems and supplies to start your own lasering cutting engraving marking etching business. a 13.6% increase from 2011, including cardholder debit, credit, ATM and shared branch payments. It hopes that by offering a simple way to execute mobile transactions, that growth will increase further, as will its ability to offer cross-institutional transaction capabilities not available in banking.
"Shared branching is a stable, slow growth type of business. We're not only capturing the deposit items, but we've also got a couple of pilots going in person-to-person payments and have a huge effort in teller automation," says Hanisch.
The shared branch model has been used by CO-OP to centralize credit union and intra-credit union commerce for decades. Hanisch says that if you were "look under the covers," the CO-OP digital banking model operates similar to an electronic funds transfer switch, or a means to capture, authorize and route payment initiated by different payment modes. "The difference is that rather than being activated with a card and PIN, the member's routing number, transit and account number are used.Manufactures and supplies laser marker equipment. That's something the banking industry doesn't have yet — a standardized way [across institutions] to electronically access an account in an online manner in real time using routing, transit and account numbers."
CO-OP, which is also accelerating its chip and PIN migration, uses mobile banking technology provided by mFoundry and handles its transaction processing in-house. Hanisch says that while mobile transactions are not a huge portion of CO-OP's processing business right now, CO-OP should be well-positioned to take advantage of growth in mobile commerce. He says that even though the transaction has been acquired in a nontraditional manner such as a mobile device, processing takes place though CO-OP's existing processing system. "Whether the transaction is acquired through a Square terminal or a dial up terminal, there's really no material processing difference from our perspective," he says.
CO-OP,We've had a lot of people asking where we had our make your own bobblehead made. which is also accelerating its chip and PIN migration, uses mobile banking technology provided by mFoundry and handles its transaction processing in-house. Hanisch says that while mobile transactions are not a huge portion of CO-OP's processing business right now, CO-OP should be well-positioned to take advantage of growth in mobile commerce. He says that even though the transaction has been acquired in a nontraditional manner such as a mobile device, processing takes place though CO-OP's existing processing system. "Whether the transaction is acquired through a Square terminal or a dial up terminal, there's really no material processing difference from our perspective," he says.
On opening the flap, you have a backlit chiclet keyboard which is quite pleasing. You cannot adjust the brightness, but can turn the backlight on or off. The keys are well-spaced and have ample travel. It lacks a dedicated number pad.
There is sufficient space for the palm rest and you will find a spacious single-slab trackpad. Although we aren’t great fans of single slab trackpads as it gets tricky when it comes to actual clicking, the Aspire V5’s trackpad supports soft touch which is quite a relief, so you don’t need to press hard on the track pad to register a response except maybe when you right-click.Site describes services including Plastic Mould.
The 14-inch touchscreen is a finger-print / smudge magnet and that becomes very evident while your screen is dark. It has edge-to-edge screen, but the bezel around the base and top is much thicker than those on the sides. The response is quite fluid but at times when you apply a little pressure while playing games or while swiping, you will notice that some ripples around the edges which are caused due to the different layers of the panel touching each other.
2012年1月3日 星期二
Scottsdale Brush Bar pairs pints, painting
Allante Battle is not a painter. At least, that's what he insisted before picking up a brush last weekend and becoming the star student at the Brush Bar in Scottsdale.
The 22-year-old Tempe resident pulled a Thomas Kinkade on his inebriated (some) and admiring classmates.
Maybe he was hustling them with the "I can't paint" bit. Maybe he's naturally gifted and had no idea. Or, maybe it was the liquid inspiration from the Blue Moon beer beside his easel.
The Brush Bar is Bob Ross with booze. The downtown studio features a beer and wine bar in front and a painting area in the back, allowing aspiring Picassos to relax with a Michelob while painting their next, or first, masterpiece.
Gia Ciliento and Brett Strachan, both 26, of Scottsdale, own the place with Ciliento's father, Angelo.Ciliento and Strachan tag-team instruction and bartending, keeping the mood light and fun. An upbeat soundtrack from Ciliento's iPod helps get people singing and dancing, too.
Ciliento and Strachan were inspired by the Denver-based Canvas and Cocktails concept. The Brush Bar opened in August and has stayed pretty busy since, booking private events, conducting outreach to local schools and hosting family nights, open studio time and evening classes.
Classes range in price from $25 to $40, and include all supplies and one drink. After that, it's a cash bar. Some may want a second glass of wine, and others may pony up for a bottle. And, yes, the bar is open during the day when the studio is open for drop-in painting.
"There's no right or wrong to this," Ciliento said into a headset mike in front of a class of 19 who signed up to paint a piece called "Lover's Lane" on a Friday night.
The bar assigns paintings to various evenings throughout the month, so everyone in the class is painting the same subject. Interpretation is up to the artist. Each painter fills his own palette with squirts of acrylic paint from bottles on the side, and then mixes them according to how the teacher instructs, or how their creativity guides them.
The sample "Lover's Lane" featured a rain-slicked, burgundy-toned street, lighted by tall lampposts that reflect into the dark night sky. Battle's interpretation of "Lover's Lane" featured a slate-colored street hugged by snow-capped evergreens and lit by lamps encased in icicles.
"This is the first time I've painted on canvas before. I love it," Battle said, seated next to his impressed girlfriend, Kelsey McCormick. "I was totally thinking this was going to be paint-by-number. I didn't know what to expect."
Lindsay Nordstrom, 33, of Phoenix, was pretty happy with her efforts. She followed Ciliento's instruction as close as she could, shading where she suggested and sticking with the colors on the sample piece.
"If you lean back, it's pretty cool," Nordstrom said, taking in her painting from a few inches back. "It's pretty good. It's OK."
The 22-year-old Tempe resident pulled a Thomas Kinkade on his inebriated (some) and admiring classmates.
Maybe he was hustling them with the "I can't paint" bit. Maybe he's naturally gifted and had no idea. Or, maybe it was the liquid inspiration from the Blue Moon beer beside his easel.
The Brush Bar is Bob Ross with booze. The downtown studio features a beer and wine bar in front and a painting area in the back, allowing aspiring Picassos to relax with a Michelob while painting their next, or first, masterpiece.
Gia Ciliento and Brett Strachan, both 26, of Scottsdale, own the place with Ciliento's father, Angelo.Ciliento and Strachan tag-team instruction and bartending, keeping the mood light and fun. An upbeat soundtrack from Ciliento's iPod helps get people singing and dancing, too.
Ciliento and Strachan were inspired by the Denver-based Canvas and Cocktails concept. The Brush Bar opened in August and has stayed pretty busy since, booking private events, conducting outreach to local schools and hosting family nights, open studio time and evening classes.
Classes range in price from $25 to $40, and include all supplies and one drink. After that, it's a cash bar. Some may want a second glass of wine, and others may pony up for a bottle. And, yes, the bar is open during the day when the studio is open for drop-in painting.
"There's no right or wrong to this," Ciliento said into a headset mike in front of a class of 19 who signed up to paint a piece called "Lover's Lane" on a Friday night.
The bar assigns paintings to various evenings throughout the month, so everyone in the class is painting the same subject. Interpretation is up to the artist. Each painter fills his own palette with squirts of acrylic paint from bottles on the side, and then mixes them according to how the teacher instructs, or how their creativity guides them.
The sample "Lover's Lane" featured a rain-slicked, burgundy-toned street, lighted by tall lampposts that reflect into the dark night sky. Battle's interpretation of "Lover's Lane" featured a slate-colored street hugged by snow-capped evergreens and lit by lamps encased in icicles.
"This is the first time I've painted on canvas before. I love it," Battle said, seated next to his impressed girlfriend, Kelsey McCormick. "I was totally thinking this was going to be paint-by-number. I didn't know what to expect."
Lindsay Nordstrom, 33, of Phoenix, was pretty happy with her efforts. She followed Ciliento's instruction as close as she could, shading where she suggested and sticking with the colors on the sample piece.
"If you lean back, it's pretty cool," Nordstrom said, taking in her painting from a few inches back. "It's pretty good. It's OK."
2012年1月2日 星期一
Hockney in dig at Hirst art process
Painter David Hockney has criticised the likes of Damien Hirst, saying artists should create their own work.
Yorkshire-born Hockney, 74, whose major exhibition of landscapes opens at the Royal Academy this month, told the Radio Times that it was "insulting" for an artist to employ others to make their creations.
A poster for his show at the Royal Academy reads: "All the works here were made by the artist himself, personally."
Asked if he was having a dig at Hirst, famous for covering a human skull with 8,601 flawless diamonds and suspending a shark in formaldehyde, Hockney nodded and said: "It's a little insulting to craftsmen, skilful craftsmen."
He added: "I used to point out at art school, you can teach the craft, it's the poetry you can't teach. But now they try to teach the poetry and not the craft."
Hockney quoted a Chinese saying that to paint "you need the eye, the hand and the heart. Two won't do." "The other great thing they said - I told this to Lucian Freud - is, 'painting is an old man's art'. I like that!," Hockney said.
Hockney, who returned to his native Yorkshire after decades in California, has been working on his latest show for more than three years. "It took me three days to say, 'Yes, OK...' There was quite a lot of work, but I'm an opportunist... We rose to the occasion," he said.
David Hockney: A Bigger Picture spans a 50-year period to show the artist's long exploration and fascination with the depiction of landscape. The Royal Academy show will include a display of his iPad drawings and a series of new films produced using 18 cameras. A retrospective of Hirst's work opens at Tate Modern in April.
Hirst has defended using assistants to make his spot paintings, saying that they could do the work better as he found it boring to paint them himself.
Hockney was appointed a member of the prestigious Order of Merit by the Queen at the weekend.
Yorkshire-born Hockney, 74, whose major exhibition of landscapes opens at the Royal Academy this month, told the Radio Times that it was "insulting" for an artist to employ others to make their creations.
A poster for his show at the Royal Academy reads: "All the works here were made by the artist himself, personally."
Asked if he was having a dig at Hirst, famous for covering a human skull with 8,601 flawless diamonds and suspending a shark in formaldehyde, Hockney nodded and said: "It's a little insulting to craftsmen, skilful craftsmen."
He added: "I used to point out at art school, you can teach the craft, it's the poetry you can't teach. But now they try to teach the poetry and not the craft."
Hockney quoted a Chinese saying that to paint "you need the eye, the hand and the heart. Two won't do." "The other great thing they said - I told this to Lucian Freud - is, 'painting is an old man's art'. I like that!," Hockney said.
Hockney, who returned to his native Yorkshire after decades in California, has been working on his latest show for more than three years. "It took me three days to say, 'Yes, OK...' There was quite a lot of work, but I'm an opportunist... We rose to the occasion," he said.
David Hockney: A Bigger Picture spans a 50-year period to show the artist's long exploration and fascination with the depiction of landscape. The Royal Academy show will include a display of his iPad drawings and a series of new films produced using 18 cameras. A retrospective of Hirst's work opens at Tate Modern in April.
Hirst has defended using assistants to make his spot paintings, saying that they could do the work better as he found it boring to paint them himself.
Hockney was appointed a member of the prestigious Order of Merit by the Queen at the weekend.
2011年12月29日 星期四
How Goethe’s masterpiece is shaping Europe
From the wreck of the sovereign debt crisis Germany has unquestionably emerged as Europe’s pre-eminent power. And a central tenet of the German solution to the crisis – for it is primarily a German solution – is that other eurozone members must be recast in their mould of fiscal orthodoxy and financial conservatism. Debt is to be regarded as immoral; current account surpluses are de rigueur; all but marginal budget deficits will be punished; and financial innovation is to be throttled by regulation. What, fellow Europeans might ask, is the wellspring of this providentialism and homespun finance?
The usual explanation emphasises the traumatic experience of the 1920s Weimar inflation, which lingers in the German memory more than the slump that brought Hitler to power. There are nonetheless deeper factors at work, not the least the etymological link between debt and guilt in the German word schuld. The fear of currency debasement was entrenched long before the 20th century. Frederick the Great in the Seven Years War debauched the currency several times to fund the fighting. Note, too, that Goethe’s Faust Part II brilliantly describes the perils of inflation. Mephistopheles urges the emperor to use undiscovered gold beneath his lands as putative collateral for promissory notes to pay the army. When the emperor and his court find they can print money without restraint, their wild spending leads to an inflationary spiral and civil chaos.
This, from the man who served as privy councillor at the court in Weimar, was more than prescient, given that Germany had yet to acquire a note-issuing bank when the work was written. Goethe probably drew on experiences of revolutionary France. The National Assembly’s issue of assignats – certificates supposedly backed by the value of church properties confiscated in 1790 – ballooned out of control. Goethe’s masterpiece no doubt helped embed the anti-inflationary mentality in Germany’s educated class. It took the horrors of the first world war and its aftermath to induce the temporary lapse of memory under the Weimar Republic.
Meanwhile, mercantilism and the fear of sophisticated finance have historically gone hand in hand in Germany and other parts of northern Europe. In the 15th century the cities of the Hanseatic League were profoundly suspicious of credit. They largely excluded foreign bankers. Merchants tried to balance trade bilaterally, relying partly on barter while making some use of coin. The economic historian Raymond de Roover reckoned the League’s credit institutions were about two centuries behind the Italians in 1500.
As the 16th century progressed, southern Germans such as the Fugger family became more competitive vis-à-vis the Italians. They developed a system of financial intermediation involving borrowing from wealth-owners everywhere and lending to monarchs. Yet they still mistrusted innovation deeply.
Then the big innovators were the Genoese, who developed the equivalent of interest rate swaps in lending to Spain’s government. In a form of securitisation they also used inflows of silver to Spain to finance the delivery of gold to pay Spanish troops in the Low Countries. According to the historian Fernand Braudel, the horrified Fuggers thought this an unworkable sleight of hand. So the Genoese were able to erode the Fuggers’ share of business with the Spanish treasury.
German banking continued to lag behind in the 19th century, while in the 20th big German banks were slow to respond to the importance of plastic cards, securitisation and derivatives markets. Does this conservatism matter? The Germans are superb manufacturers, while the Americans and British happen to have bigger financial sectors. Globalisation and the law of comparative advantage are all about specialisation. Yet the cultural bias is arguably a disadvantage. A shortage of equity in both banking and the non-financial corporate sector leaves Germany’s economy vulnerable to shocks.
The apparent lack of understanding of the reciprocal relationship between debtors and creditors is more damaging. No one can run persistent current account surpluses without somebody else running up deficits. There are also double standards here. The German military was long exempt from financial discipline: the motto of its general staff in the first world war was Geld spielt keine Rolle – loosely, hang the cost. Germany was the first in the European monetary union to break the stability and growth pact rules on deficits and debt.
The usual explanation emphasises the traumatic experience of the 1920s Weimar inflation, which lingers in the German memory more than the slump that brought Hitler to power. There are nonetheless deeper factors at work, not the least the etymological link between debt and guilt in the German word schuld. The fear of currency debasement was entrenched long before the 20th century. Frederick the Great in the Seven Years War debauched the currency several times to fund the fighting. Note, too, that Goethe’s Faust Part II brilliantly describes the perils of inflation. Mephistopheles urges the emperor to use undiscovered gold beneath his lands as putative collateral for promissory notes to pay the army. When the emperor and his court find they can print money without restraint, their wild spending leads to an inflationary spiral and civil chaos.
This, from the man who served as privy councillor at the court in Weimar, was more than prescient, given that Germany had yet to acquire a note-issuing bank when the work was written. Goethe probably drew on experiences of revolutionary France. The National Assembly’s issue of assignats – certificates supposedly backed by the value of church properties confiscated in 1790 – ballooned out of control. Goethe’s masterpiece no doubt helped embed the anti-inflationary mentality in Germany’s educated class. It took the horrors of the first world war and its aftermath to induce the temporary lapse of memory under the Weimar Republic.
Meanwhile, mercantilism and the fear of sophisticated finance have historically gone hand in hand in Germany and other parts of northern Europe. In the 15th century the cities of the Hanseatic League were profoundly suspicious of credit. They largely excluded foreign bankers. Merchants tried to balance trade bilaterally, relying partly on barter while making some use of coin. The economic historian Raymond de Roover reckoned the League’s credit institutions were about two centuries behind the Italians in 1500.
As the 16th century progressed, southern Germans such as the Fugger family became more competitive vis-à-vis the Italians. They developed a system of financial intermediation involving borrowing from wealth-owners everywhere and lending to monarchs. Yet they still mistrusted innovation deeply.
Then the big innovators were the Genoese, who developed the equivalent of interest rate swaps in lending to Spain’s government. In a form of securitisation they also used inflows of silver to Spain to finance the delivery of gold to pay Spanish troops in the Low Countries. According to the historian Fernand Braudel, the horrified Fuggers thought this an unworkable sleight of hand. So the Genoese were able to erode the Fuggers’ share of business with the Spanish treasury.
German banking continued to lag behind in the 19th century, while in the 20th big German banks were slow to respond to the importance of plastic cards, securitisation and derivatives markets. Does this conservatism matter? The Germans are superb manufacturers, while the Americans and British happen to have bigger financial sectors. Globalisation and the law of comparative advantage are all about specialisation. Yet the cultural bias is arguably a disadvantage. A shortage of equity in both banking and the non-financial corporate sector leaves Germany’s economy vulnerable to shocks.
The apparent lack of understanding of the reciprocal relationship between debtors and creditors is more damaging. No one can run persistent current account surpluses without somebody else running up deficits. There are also double standards here. The German military was long exempt from financial discipline: the motto of its general staff in the first world war was Geld spielt keine Rolle – loosely, hang the cost. Germany was the first in the European monetary union to break the stability and growth pact rules on deficits and debt.
2011年12月28日 星期三
Rexam Announces Major Plant Extension at Excelsior Springs
Rexam, a leading global consumer packaging company, announced plans to expand its current operations at its Excelsior Springs, MO, production facility by more than 50 percent to support growing customer demand for its products. The facility manufactures custom molded components for major U.S. personal care product brands.
As part of the expansion, the strategically situated facility will add molding and assembly equipment to help further grow the triple-digit revenue increase attained over the last 10 years. This facility employs more than130 associates and manufactures and assembles injection molded plastic packaging for the personal care market. It is part of Rexam’s global plastics business which operates more than 45 plants and employs more than 13,000 people around the world, serving the healthcare, food and personal care markets.
“This is a great reflection of our people in Excelsior Springs and the relationships we have built with our customers,” said Julie Vergnion, Catergory Manager, Rexam Personal Care Division. “This expansion further demonstrates our commitment to supporting customer growth as we build on our existing high-quality operations and continue our focus on delivering world-class quality products and services to our customers.”
Rexam’s integrated, one-stop supplier approach to dispensing solutions helps shorten supply chains, reduce time-to-market, enhance quality, improve shelf appeal and increase ROI.
“Our Excelsior Springs facility supports our major customers who ship to the Midwestern United States,” said Marlon Pass, Plant Manager. “Our dedicated employees, strong technical teams and culture of continuous improvement will continue to create growth opportunities for the Personal Care Division, and maintain the highest standards of workplace safety and innovation.
We are proud of our tenured and growing team that thrives on accomplishment and delivers state-of-the-art products in this industry. And we thank our customers for their trust and for their business, as we help them ‘shape their brands’ in today’s extraordinarily demanding marketplace,” Pass said.
As part of the expansion, the strategically situated facility will add molding and assembly equipment to help further grow the triple-digit revenue increase attained over the last 10 years. This facility employs more than130 associates and manufactures and assembles injection molded plastic packaging for the personal care market. It is part of Rexam’s global plastics business which operates more than 45 plants and employs more than 13,000 people around the world, serving the healthcare, food and personal care markets.
“This is a great reflection of our people in Excelsior Springs and the relationships we have built with our customers,” said Julie Vergnion, Catergory Manager, Rexam Personal Care Division. “This expansion further demonstrates our commitment to supporting customer growth as we build on our existing high-quality operations and continue our focus on delivering world-class quality products and services to our customers.”
Rexam’s integrated, one-stop supplier approach to dispensing solutions helps shorten supply chains, reduce time-to-market, enhance quality, improve shelf appeal and increase ROI.
“Our Excelsior Springs facility supports our major customers who ship to the Midwestern United States,” said Marlon Pass, Plant Manager. “Our dedicated employees, strong technical teams and culture of continuous improvement will continue to create growth opportunities for the Personal Care Division, and maintain the highest standards of workplace safety and innovation.
We are proud of our tenured and growing team that thrives on accomplishment and delivers state-of-the-art products in this industry. And we thank our customers for their trust and for their business, as we help them ‘shape their brands’ in today’s extraordinarily demanding marketplace,” Pass said.
2011年12月15日 星期四
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