Tabloid Edition

Stem Cell Collection

I have to admit that this is a completely new idea to me: C’elle .

The idea is that contained within a woman's menstrual blood there are stem cells and that these could and should be collected. It's most certainly true that we are finding out that adult stem cells can be used in all sorts of amazing ways. We really are seeing in the labs treatments for hard to cure diseases coming to fruition. Cancers have been cured this way for example.

The advantage of stem cells collected from the adult that they will then be used to treat is of course that there are no possible rejection issues. And as a woman is obviously closely genetically related to her children that will help too if they need treatment at some time.

If you want to take this further you can have a look at their order now page and their pricing page.

Fred the Shred

The Sun tracks down Fred the Shred and asks him the most important question about his pension:

 WORLD’S worst banker Sir Fred Goodwin was left stunned last night when The Sun tracked him down and demanded: �Surely you can get by on less?� The Royal Bank of Scotland fat cat has outraged Brits by raking in �693,000 a year as he starts drawing on his �25million pension. .......Sun man David Willetts read out our petition, saying: �Our readers have a message for you — ‘Dear Fred The Shred, I am in the red so I want back my bread, surely you can get by on less instead’.� We then asked �Do you have any comments to make about that?� Flummoxed Sir Fred failed to defend his bumper pension as his dogs made a din in the background. Fred The Shred — who presided over the biggest corporate cock-up in British history — said: �I don’t have any comments to make at this stage David and thank you very much for calling.�

Well, yes, but it is true that a government minister signed off on his taking early retirement and thus getting his pension now....rather than being fired. The effects of his taking early retirement were in fact spelled out and the Minister knew this back in October. He just failed to tell anyone else about it.

The Daily Mash is good on this though:

AHA ha ha ha ha ha ha, aha ha ha, aha ha ha ha ha, former Royal Bank of Scotland chief executive Sir Fred Goodwin said last night.

The disgraced banker spoke out while bent over double in an Edinburgh street, slapping his knee as his cheeks took on a deep, rosy pink colour.

Becoming light-headed, he was then forced to crouch down with his head buried in his hands while his shoulders began to jiggle uncontrollably.

Minutes later the 50 year-old pensioner stood up and attempted to compose himself before his face erupted once again and he began waving frantically as if to stay, 'no, stop, stop, I can't take it any more'.

About right you might think.

Webhosting

OK, OK, so we've all bought into the idea that whatever your business, wherever and in whatever field, you're going to need to have a web presence as a part and parcel of the way that you run that business. Yes?

It might be that you're going to sell directly from that site, it might be just that you'll provide information to potential customers on it. Or perhaps you'll simply post up all of your technical manuals to make after sales service easier....as many of the consumer white goods manufacturers do. But whichever of these paths you're going to take it's obvious to us all I think that getting online is essential.

OK, this then brings us to the question of webhosting . Who is going to get that piece of your business?

Now you might think that this isn't really all that important. After all, it's only going to be a small site and....aha! not so fast.  This is something that you really do want to think seriously about, for each and every webhosting  company out there is going to be offering you something different. There are those who will offer a great deal of handholding, great tools to help you build your site and so on. Others will, for the same money, not give you those tools but will offer extremely high up times and huge amounts of bandwidth. What you need to work out is which bundle of services is most important to you and then make sure that whoever you choose provides it.

Click through either of those links to find out all the information about the different companies offering these services. Web Hosting Geeks have done a great job of getting it all together. Hey, they can even tell you who offers Green Web Hosting....if that's the sort of thing that's important to you.

Berkshire Hathaway

Berkshire Hathaway's results were released this morning....and it tells you something when a company of Berkshire Hathaway's size decides to release their results on a Saturday monrning.

Just about everybody else releases their results when the market is open. So that people can see the results and then trade upon them as they wish. Usually the only reason for doing something different, releasing them after the market closes, or even on a day when all the markets are shut tight as Berkshire Hathaway has done, is because you know the results aren'tgoing to be good and you don't want people to start trading upon them immediately.

As, indeed, has happened. Berkshire Hathaway's results, while a great deal better than many other financial firms, are pretty appalling:

Warren Buffett's Berkshire Hathaway Inc. reported Saturday morning that 2008 was the legendary investor's worst year ever. It also reported a grim fourth quarter, though it eked out a slight gain.

Quite how bad can be seen from this:

his is an excerpt of Warren Buffett's annual letter to Berkshire Hathaway shareholders. See the full letter on the company's Web site.

To the Shareholders of Berkshire Hathaway Inc.:

Our decrease in net worth during 2008 was $11.5 billion, which reduced the per-share book value of both our Class A and Class B stock by 9.6%. Over the last 44 years (that is, since present management took over) book value has grown from $19 to $70,530, a rate of 20.3% compounded annually.*

The table on the preceding page, recording both the 44-year performance of Berkshire's book value and the S&P 500 index, shows that 2008 was the worst year for each. The period was devastating as well for corporate and municipal bonds, real estate and commodities. By yearend, investors of all stripes were bloodied and confused, much as if they were small birds that had strayed into a badminton game.

As the year progressed, a series of life-threatening problems within many of the world's great financial institutions was unveiled. This led to a dysfunctional credit market that in important respects soon turned non-functional. The watchword throughout the country became the creed I saw on restaurant walls when I was young: "In God we trust; all others pay cash

If you want to read the full letter you can get it from here.

This is some more of the Chairman's letter:

By the fourth quarter, the credit crisis, coupled with tumbling home and stock prices, had produced a
paralyzing fear that engulfed the country. A freefall in business activity ensued, accelerating at a pace that I have
never before witnessed. The U.S. – and much of the world – became trapped in a vicious negative-feedback
cycle. Fear led to business contraction, and that in turn led to even greater fear.
This debilitating spiral has spurred our government to take massive action. In poker terms, the Treasury
and the Fed have gone “all in.” Economic medicine that was previously meted out by the cupful has recently
been dispensed by the barrel. These once-unthinkable dosages will almost certainly bring on unwelcome
aftereffects. Their precise nature is anyone’s guess, though one likely consequence is an onslaught of inflation.
Moreover, major industries have become dependent on Federal assistance, and they will be followed by cities
and states bearing mind-boggling requests. Weaning these entities from the public teat will be a political
challenge. They won’t leave willingly.
Whatever the downsides may be, strong and immediate action by government was essential last year if
the financial system was to avoid a total breakdown. Had that occurred, the consequences for every area of our
economy would have been cataclysmic. Like it or not, the inhabitants of Wall Street, Main Street and the various
Side Streets of America were all in the same boat.
Amid this bad news, however, never forget that our country has faced far worse travails in the past. In
the 20th Century alone, we dealt with two great wars (one of which we initially appeared to be losing); a dozen or
so panics and recessions; virulent inflation that led to a 211⁄2% prime rate in 1980; and the Great Depression of
the 1930s, when unemployment ranged between 15% and 25% for many years. America has had no shortage of
challenges.
Without fail, however, we’ve overcome them. In the face of those obstacles – and many others – the
real standard of living for Americans improved nearly seven-fold during the 1900s, while the Dow Jones
Industrials rose from 66 to 11,497. Compare the record of this period with the dozens of centuries during which
humans secured only tiny gains, if any, in how they lived. Though the path has not been smooth, our economic
system has worked extraordinarily well over time. It has unleashed human potential as no other system has, and it
will continue to do so. America’s best days lie ahead.
*All per-share figures used in this report apply to Berkshire’s A shares. Figures for the B shares are
1/30th of those shown for A.
3
Take a look again at the 44-year table on page 2. In 75% of those years, the S&P stocks recorded a
gain. I would guess that a roughly similar percentage of years will be positive in the next 44. But neither Charlie
Munger, my partner in running Berkshire, nor I can predict the winning and losing years in advance. (In our
usual opinionated view, we don’t think anyone else can either.) We’re certain, for example, that the economy will
be in shambles throughout 2009 – and, for that matter, probably well beyond – but that conclusion does not tell
us whether the stock market will rise or fall.
In good years and bad, Charlie and I simply focus on four goals:
(1) maintaining Berkshire’s Gibraltar-like financial position, which features huge amounts of
excess liquidity, near-term obligations that are modest, and dozens of sources of earnings
and cash;
(2) widening the “moats” around our operating businesses that give them durable competitive
advantages;
(3) acquiring and developing new and varied streams of earnings;
(4) expanding and nurturing the cadre of outstanding operating managers who, over the years,
have delivered Berkshire exceptional results.
Berkshire in 2008
Most of the Berkshire businesses whose results are significantly affected by the economy earned below
their potential last year, and that will be true in 2009 as well. Our retailers were hit particularly hard, as were our
operations tied to residential construction. In aggregate, however, our manufacturing, service and retail
businesses earned substantial sums and most of them – particularly the larger ones – continue to strengthen their
competitive positions. Moreover, we are fortunate that Berkshire’s two most important businesses – our
insurance and utility groups – produce earnings that are not correlated to those of the general economy. Both
businesses delivered outstanding results in 2008 and have excellent prospects.
As predicted in last year’s report, the exceptional underwriting profits that our insurance businesses
realized in 2007 were not repeated in 2008. Nevertheless, the insurance group delivered an underwriting gain for
the sixth consecutive year. This means that our $58.5 billion of insurance “float” – money that doesn’t belong to
us but that we hold and invest for our own benefit – cost us less than zero. In fact, we were paid $2.8 billion to
hold our float during 2008. Charlie and I find this enjoyable.
Over time, most insurers experience a substantial underwriting loss, which makes their economics far
different from ours. Of course, we too will experience underwriting losses in some years. But we have the best
group of managers in the insurance business, and in most cases they oversee entrenched and valuable franchises.
Considering these strengths, I believe that we will earn an underwriting profit over the years and that our float
will therefore cost us nothing. Our insurance operation, the core business of Berkshire, is an economic
powerhouse.
Charlie and I are equally enthusiastic about our utility business, which had record earnings last year
and is poised for future gains. Dave Sokol and Greg Abel, the managers of this operation, have achieved results
unmatched elsewhere in the utility industry. I love it when they come up with new projects because in this
capital-intensive business these ventures are often large. Such projects offer Berkshire the opportunity to put out
substantial sums at decent returns.
4
Things also went well on the capital-allocation front last year. Berkshire is always a buyer of both
businesses and securities, and the disarray in markets gave us a tailwind in our purchases. When investing,
pessimism is your friend, euphoria the enemy.
In our insurance portfolios, we made three large investments on terms that would be unavailable in
normal markets. These should add about $11⁄2 billion pre-tax to Berkshire’s annual earnings and offer
possibilities for capital gains as well. We also closed on our Marmon acquisition (we own 64% of the company
now and will purchase its remaining stock over the next six years). Additionally, certain of our subsidiaries made
“tuck-in” acquisitions that will strengthen their competitive positions and earnings.
That’s the good news. But there’s another less pleasant reality: During 2008 I did some dumb things in
investments. I made at least one major mistake of commission and several lesser ones that also hurt. I will tell
you more about these later. Furthermore, I made some errors of omission, sucking my thumb when new facts
came in that should have caused me to re-examine my thinking and promptly take action.
Additionally, the market value of the bonds and stocks that we continue to hold suffered a significant
decline along with the general market. This does not bother Charlie and me. Indeed, we enjoy such price declines
if we have funds available to increase our positions. Long ago, Ben Graham taught me that “Price is what you
pay; value is what you get.” Whether we’re talking about socks or stocks, I like buying quality merchandise
when it is marked down.

Polishing the house off

Long time readers will know that we're in the process of redoing a house down here, turning what was a wreck into a decent home. We're so into it that we just this morning agreed a mortgage on the place so that we can finish the second side....how about that for confidence, eh?

The first side is indeed finished, nice little two bedroom with all the extras and so on. And thatºs where we're just finishing off things. You know, putting in the herb garden (herbs, not 'erb!), planting the flowerbeds and...well, yes, since we're here full time now, we've got to get the mailboxes sorted out. I've been wondering though about what sort we should go for. Maybe one of these whitehouse mailboxes? Or a more traditional type on a mailbox posts? or do we just stick up a few address plaques and tell people to ring the bell?

I have to tell you though that this whole experience has shown me one thing. That when the builders leave you're only half way through. There's a huge amount of stuff that you've got to do after everyone thinks that the place is ready to live in.

Roberto Alomar

Oh dear, it looks as if Roberto Alomar has been a very naughty boy indeed. Or at least, It's alleged that Roberto Alomar has been in a lawsuit filed by his ex-girlfriend. The allegation is that Alomar has full blown AIDS and yet was still having unprotected sex.

So Roberto Alomar is being sued by his ex girlfriend as a result.

Alomar Sued in AIDS Scandal Though this one has nothing to do with anything on the field. According to a report in the New York Daily News, former Orioles, Indians, Mets, Blue Jays, Padres and White Sox second baseman Roberto Alomar is being sued by his ex-girlfriend, who claims he insisted on continuing to have unprotected sex with her despite being afflicted with full-blown AIDS. Amazing, the plaintiff -- a 31-year-old Queens massage spa manager named Ilya Dali -- never contracted the disease, but is suing for emotional distress and the danger Alomar posed to her two children while the couple lived together for two years.

It's not actually that amazing that she didn't contract AIDS from Alomar: after the initial highly infectious pahse, and before the onset of full blown AIDS, Roberto Alomar would not in fact be all that infectious. It would be possible to contract the disease, certainly, but by no means certain.

Former New York Mets star Roberto Alomar had unprotected sex with his ex-girlfriend while he had full blown AIDS, a sensational lawsuit charges.

In the $15 million action filed in Brooklyn Federal court, Ilya Dall, of Queens, said the ballplayer tested positive for HIV in 2006 and a doctor later told him he had AIDS.

Dall said she tested negative for the disease — but is claiming punitive damages for emotional distress. She also claims her children were exposed to the virus.

Alomar, 41, a 12-time All Star, who retired from baseball in 2005, began dating Dall in 2002, and began having unprotected sex with her a short time later, according to the suit.

Her suit does not claim that he knew he had AIDS when they were having unprotected sex — but he had reason to think he might because his doctors kept advising him to be tested. He procrastinated and told her he was disease free, the suit says. In 2004, she said, she noticed he had cold sores. The following year he was diagnosed with a blood disorder that's linked to AIDS, the suit says.

I have to admit that there's something I don't actually know,. Is treatment with anti-virals effective against AIDS? Or is it only useful to delay the onset? That is, now that Roberto Alomar has been diagnosed, can he be effectively treated, or is he on the end of the long slide down?

Roberto Alomar, former MLB second baseman, has AIDS, according to allegations made in court papers filed by his ex-girlfriend Ilya Dall. Dall is suing Alomar for $15 million in damages after Alomar insisted they have unprotected sex over the course of their three year relationship and then denied his condition until a January 2006 HIV test allegedly turned up positive.

The thing is though, for living with someone, for having unprotected sex with them, does anyone in fact deserve $15 million? Especially as she's not saying that Alomar already knew about it?

In a scandal that threatens to drive A-Rod off the front pages, an ex-girlfriend of Roberto Alomar says the former baseball legend insisted on having unprotected sex with her, despite having full-blown AIDS. She is suing the infielder for $15 million.

I mean, if he didn't know, how can he be responsible?

If you want more on this story why not have a look at these blog posts?

Roberto Alomar: Does Roberto Alomar Have AIDS? Girlfriend's ... By Rick Chandler Roberto Alomar has AIDS? That's news to many, apparently. His lawyer, Charles Bach, would not say whether Alomar is HIV-positive. "We believe this is a totally frivolous lawsuit. These allegations are baseless," Bach said. ...

Lawsuit says Roberto Alomar has full blown AIDS. And kept having ... By chrisih8u Lawsuit says Roberto Alomar has full blown AIDS. And kept having unprotected sex. Sports Talk.

Report: Lawsuit claims Alomar had sex knowing he had AIDS - Projo ... By mdivver The New York Daily News reports that former New York Met Roberto Alomar, 35, has full-blown AIDS but insisted on having unprotected sex, his ex-girlfriend charged in a lawsuit. Read it here. social bookmarking ...

Those Softball (Baseball) Questions - Tim Graham - The Media Blog ... By mediablog@nationalreview.com It reminds me of the baseball question in the 1996 vice-presidential debate, where Jim Lehrer of PBS brought up the then-recent incident of Roberto Alomar spitting in an umpire’s face:. LEHRER: Mr. Kemp, some are saying these days that ...

New York - Alomar Ex Says He Has AIDS - Runnin' Scared - Village Voice By Roy Edroso alomar.jpg Roberto Alomar has AIDS, his ex-girlfriend says, and she's brought a $15 million lawsuit against the former Mets star, reports the Daily News. The girlfriend, Ilya Dali, claims that in her time with him Alomar was diagnosed ...

LCD TV Reviews: HDTV - Deja Vu All Over Again By Winton5319 1 Roberto Alomar sued by ex-girlfriend claiming ... levon helm, sussex spaniel, parthenogenesis, ... 1 Levon Helm set for "Late Night" with... levon helm, sussex spaniel, i hope you dance, . ...

RIP Jeremy Lusk (1984-2009) - X Games, Sports LOTD: $15M Lawsuit claims ex-Met Roberto Alomar had sex knowing he had AIDS — (New York Daily News) And a few other links found since I posted yesterday’s LOTD: RIP Jeremy Lusk (1984-2009) — (Sparty and Friends) Another mixed . ...

Americans for Prosperity

Americans for Prosperity is a campaigning group arguing that the stimulus package should not be passed. Their argument is that, as Americans for Prosperity say, that spending near $900 billion will make the country poorer in the long run. They might even be correct about that too:

On behalf of the members of Americans for Prosperity, I am writing to urge you to vote against the so-called American Recovery and Reinvestment Act. Congress should not enact an expensive spending bill under the pretense of stimulus or recovery. No matter which amendments pass, the fundamental approach of dramatically increasing federal debt and spending is a mistake. We therefore urge you to vote NO and will rate a vote against the so-called stimulus as a Key Vote for Prosperity in our Congressional ratings.

That's part of the letter that Americans for Prosperity have been sending out around the country. They reall, really, do not want the stimulus bill to pass and as a minor league economist myself I can see what they mean. Even if a Keynesian stimulus is indeed what the country needs now, the morass of a bill that is in Congress ain't even that.

A conservative group called "Americans For Prosperity" has started a petition against the stimulus package that became so popular, it crashed their website in recent days. (The site has since gone back up.)

Here's some more news about their plans:

Americans for Prosperity, small government advocacy group, has circulated a “No Stimulus Plan” petition. It is a document that has become increasingly popular online.

The petition’s popularity rose the day after President Obama took to the airwaves to advocate for it, and on the day that the Senate is expected to approve their version of the economic stimulus plan--set to cost some $838 billion.

In response, Americans for Prosperity launched a new website for the petition called Nostimulus.com, which allows those who oppose the stimulus measure--and, according to recent polls, that is about 43 percent of all Americans--to voice their concerns and objections.

The petition reads that “Congress should not enact an expensive spending bill under the pretense of stimulus or recovery. We cannot spend our way to prosperity, and such an expansion of the federal government will put a crushing burden on taxpayers in the long-term.”

Americans for Prosperity’s objections to the plan include: claims that “only 3.6% of the scheme’s $825 billion price tag would actually go to real, practical infrastructure projects--roads and bridges; that the Congressional Budget Office has said the plan would actually hurt the economy; and last, that the plan would represent “the first steps towards the socialization and government-mandated rationing of health care.”

It is indeed true that the stimulus plan reads more like a wish list of every leftist in hte country, rather than an actually well crafted stimulus for the economy.

Americans for Prosperity’s No Stimulus petition (nostimulus.com) is a petition website against the Obama Stimulus Package! Sign the Americans for Prosperity No Stimulus’s nostimulus.com petition.

That's what's at the center of it all. Just don't spend the money.

Those best savings rates

One of the things that we all find really difficult at the moment is finding a decent rate of interest on our savings. The reason is, of course, that interest rates in general are really low, so there just isn't all that much out there. Fortunately, there's a place that can help, that can get you to the best online savings account.

If you're looking for a well paying home for your money it's worth having a look.

Doodle for Google

Doodle for Google is back again.

Google announced its "Doodle 4 Google 2009" competition Tuesday. According to the company, all Kindergarten through 12th grade U.S. students can design a Google logo based on the theme, "What I wish for the World." Applications will be accepted until March 31 and the winner's doodle will be displayed on Google's homepage on May 21. The winner will receive a $15,000 college scholarship and a $25,000 technology grant for their school. Google will also award a school district $10,000 for the "greatest quality participation." Student drawings will be evaluated by a panel of independent judges and Google employees.

Or if you prefer the official announcement of Doodle 4 Google, here it is from their own website.

Today, we're announcing our second annual Doodle 4 Google contest in the U.S. Google doodles are the special "dressed-up" logos we run on our homepage for holidays and other events, and Doodle 4 Google is an opportunity for one child to have his/her artwork displayed on our homepage as a doodle for hundreds of millions of people to see. This year's theme is "What I Wish for the World," as we really want to tap into not only children's creativity but also what they want their future to look like.

We're very excited this year to be partnering with the Smithsonian's, Cooper-Hewitt, National Design Museum. Since Cooper-Hewitt is focused on design and education and fostering the brightest design minds of tomorrow, they were a natural partner for Doodle 4 Google. Their partnership also means that this year's prizes not only include having your artwork on the Google homepage for a day, a college scholarship, and a technology grant for your school, but also having your work (and that of all 40 finalists) exhibited at a Smithsonian museum!

Clearly, last year's Doodle 4 Google was a success which is why they're running it again. Here's what we ran last year on the competition and we do like to note that Doodle 4 Google started in the UK:

The Doodle for Google program has now actually made it to the US! Doodle for Google actually started in the UK:

Doodle4Google Competitions

The Doodle4Google competitions are British based, and are hosted every year. The competition is opened to students aged between 5 and 16 in the UK. There is usually a deadline, of which all submissions should be entered. Each doodle requires a title and a statement that is less than 60 words. The process of choosing a winner is split into different sections. After some time, the regional winners are announced and then the winning doodles go onto the Doodle4Google website, where the public get the opportunity to vote for the winner. The prize is a trip to the Google campus in California and the hosting of your doodle for 24 hours on the Google UK website.

There's also been an Australian version of Doodle for Google:

Australia celebrates its national day on January 26 with a swag of official events, and one of the 21st century's ultimate anniversary markers: a customized holiday homepage on the Google search engine.

   

The Web site will sport a Melbourne schoolgirl's doodle of a rusty outback shed and a kangaroo road-crossing sign on Saturday, after a 12-year-old's depiction of outback life won the Doodle 4 Google competition last year.

   

Drawn by Janelle San Juan, the shed and sign, common sights in the country's dry interior, were judged the most iconic by the man behind the cyber trend, "Google doodler" Kevin Hwang.

   

With just under a third of entries featuring indigenous animals such as koalas and kangaroos, the range of Down Under designs were fairly predictable.

And as above, the Doodle For Google program has now arrived in the US:

Google on Wednesday announced the launch of “Doodle 4 Google,” a competition that invites school children to design a Google logo inspired by the question, “What If ...?”

The winning student’s doodle will be displayed on the Google homepage on May 22, 2008; the champion “doodler” will also win a $10,000 college scholarship and a $25,000 technology grant for his/her school.

The “Doodle 4 Google” competition is open to U.S. students K-12.

Perhaps the most amusing thing is that entries to Doodle for Google will not be accepted by electronic mail....

Google is inviting students to design a "Doodle 4 Google" that will be featured on the search giant's site on May 22. Each school can submit six entries, which will be judged in categories based on the designer's age and region.

The theme is "What if...?"

The irony is that Google, the world's most powerful Internet company, won't accept any electronic submissions. "We're only accepting entries by mail; please don't email your doodles to us!,"

And if you'd like some examples of what a Google Doodle actually is, here's some from the man who has been preparing them for years.