Archive for June 22nd, 2010

Floating Houses

Some advice that this blogger might have found useful 12 months ago, before Ketsana/Ondoy:


“Sent from my BlackBerry® wireless handheld”

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While I honestly don’t think that humans must deny the beastly programmings for survival, balance, health and feet-on-the-ground purposes, it is interesting to note that jungle principles aren’t the answer to many questions regarding the solutions to the current world problems, and that we do not even know how jungle we are when we are being that. 


The following article made me laugh, although not heartily.  “In athletics there’s always been a willingness to cheat,”  Kareem Abdul-Jabbar was quoted as saying, “if it looks like you’re not cheating. I think that’s just a quirk of human nature.


A Highly Evolved Propensity for Deceit

Published: December 22, 2008

When considering the behavior of putative scam operators like Bernard “Ponzi scheme” Madoff or Rod “Potty Mouth” Blagojevich, feel free to express a sense of outrage, indignation, disgust, despair, amusement, schadenfreude. But surprise? Don’t make me laugh.


Toni Angermayer/Photo Researchers


Sure, Mr. Madoff may have bilked his clients of $50 billion, and Governor Blagojevich, of Illinois, stands accused of seeking personal gain through the illicit sale of public property — a United States Senate seat. Yet while the scale of their maneuvers may have been exceptional, their apparent willingness to lie, cheat, bluff and deceive most emphatically was not.


Continue reading here: 


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The BP oil spill bill:

BP said the disaster, now into its tenth week, had already cost it $2bn. As of last night, the British company had paid out only $104m to claimants. In all, 64,000 demands have been submitted so far, totalling $600m. That pace will, however, only accelerate as oil continues to spew from the broken well-head, contaminating an ever-wider area of the Gulf.

From the looks of things BP will probably not have any trouble funding it:

BP is eyeing relatively modest new bank lending lines and is not planning bond sales or new increases in asset sales to fund its Gulf of Mexico oil spill clean-up, sources familiar with the company’s thinking said on Monday.

BP has considered a number of different scenarios to raise additional cash, should the need arise, such as additional asset sales and a potential bond offering.

And furthermore it also seems that even if BP were to declare bankruptcy, creditors wouldn’t mind.

There are no bank-style bailouts here, but structurally seems to be no deterrents either. Moral hazard just the same.

“Sent from my BlackBerry® wireless handheld”

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Just checking in on the happenings since its been roughly a couple of months since the now infamous Deepwater Horizon oil spill from the BP oil rig.

As reported by Reuters, in New Orleans, while tourism ads are getting pulled for sensitivity to BP, oil firms are lobbying to overturn Obama’s 6-month ban on deepwater drilling, which was in reaction to the spill. On the Huffington Post, beach weddings are taking a dive in Florida.

Meanwhile, as you consider the total effect of the spill–social, economic and environmental–you might want to check out If It Was My Home, which apart from social activism features an interesting Google map of the oil spill which you can overlay on your own home to appreciate the scale. (Thanks to Freakonomics).

“Sent from my BlackBerry® wireless handheld”

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