How the bailout program works

It is a slow day in a damp little Irish town. The rain is beating down and the streets are deserted. Times are tough, everybody is in debt and everybody lives on credit. On this particular day a rich German tourist is driving through the town, stops at the local hotel and lays a €100 note on the desk, telling the hotel owner he wants to inspect the rooms upstairs in order to pick one to spend the night. The owner gives him some keys and, as soon as the visitor has walked upstairs, the hotelier grabs the €100 note and runs next door to pay his debt to the butcher. The butcher takes the €100 note and runs down the street to repay his debt to the pig farmer. The pig farmer takes the €100 note and heads off to pay his bill at the supplier of feed and fuel.

The guy at the Farmers’ Co-op takes the €100 note and runs to pay his drinks bill at the pub. The publican slips the money along to the local prostitute drinking at the bar, who has also been facing hard times and has had to offer him “services” on credit. The hooker then rushes to the hotel and pays off her room bill to the hotel owner with the €100 note. The hotel proprietor then places the €100 note back on the counter so the rich traveller will not suspect anything.

At that moment the traveller comes down the stairs, picks up the €100 note, states that the rooms are not satisfactory, pockets the money and leaves town. No one produced anything. No one earned anything. However, the whole town is now out of debt and looking to the future with a lot more optimism.

Source unknown

Worried Nation

“Millions of Americans are currently worried about two things that are, in their minds, emotionally related. The first of these is the prospect that white people will no longer be the majority in this country, and the second is that the United States will be just one among many world powers.”
— Christopher Hitchens

“Blog as a platform”

Chris Brogan advises building something of personal or business value by starting as if you already have a platform.

“When I say “platform,” I mean this: a body of principles on which a person or group takes a stand in appealing to the public; program.” In this, I also mean build a presence, a place from which to share those principles and ideas.”

He goes on to describe his blog as…

“a place where people can come to get a taste of what I think and what I stand for, and it’s a place where people can match and measure their own ideas against what I put out there.”

Yes. That’s pretty much it in a nutshell. I like having such a place. And, for better or worse, my blog is a “taste of what I think and stand for.” Even people who have known me for many years wouldn’t know as much about what I think and stand for as someone who reads these posts.

I’ll dabble in the social shallows of Twitter and Facebook but they cannot be (for me) the platform Mr. Brogan describes

Live with the WikiLeakable world or shut down the net. It’s your choice

“What WikiLeaks is really exposing is the extent to which the western democratic system has been hollowed out. In the last decade its political elites have been shown to be incompetent (Ireland, the US and UK in not regulating banks); corrupt (all governments in relation to the arms trade); or recklessly militaristic (the US and UK in Iraq). And yet nowhere have they been called to account in any effective way. Instead they have obfuscated, lied or blustered their way through. And when, finally, the veil of secrecy is lifted, their reflex reaction is to kill the messenger” — via guardian.co.uk

The chickens just called. They’re running late but will be back at the roost shortly.

Just “get the bloody story”

“Yet journalism’s stock-in-trade is disclosure. As we have seen this week with WikiLeaks, power loathes truth revealed. Disclosure is messy and tests moral and legal boundaries. It is often irresponsible and usually embarrassing. But it is all that is left when regulation does nothing, politicians are cowed, lawyers fall silent and audit is polluted. Accountability can only default to disclosure. As Jefferson remarked, the press is the last best hope when democratic oversight fails, as it does in the case of most international bodies.”“The great American editor Oz Elliott once lectured graduates at the Columbia School of Journalism on their sacred duty to democracy as the unofficial legislators of mankind. He asked me what I thought of it. I said it was no good to me: I was trained as a reptile lurking in the gutter whose sole job was to “get the bloody story.”

 

Journalism in the Age of Data

I keep reading how data visualization is the future of journalism but it didn’t sink in very far. This documentary (?) turned on the light bulb in several ways.

I remember (sort of) the first time I inserted some audio into a story that aired on the radio station I worked at. Zowie! How cool is that? Well, better than no sound at all (maybe).

As I watched this, I realized how little understanding is communicated by the sound bite or some TV Ken/Barbie sticking a mic in someone’s face. Real depth, real insight and understanding will happen online (although we’ll soon stop making that distinction if we haven’t already).

I was also struck by the really smart men and women featured. They are not pretty faces. You don’t get on TV unless you look good. I sure hope J-Schools are paying attention to this.

The news organizations (if in fact it turns out to BE news organizations) the bring these skills to the party will win and we’ll all be better informed.

[via Cool Infographics]

Pandora Radio

Top 40 radio was just what it sounds like. The 40 most popular songs played over and over and over. The idea –as I understand it– was people would rather hear the popular songs more frequently than have a bunch of new stuff mixed in.

The little station I worked at had a longer play list. Maybe 100 to 150 songs? It was pretty loose. Nobody got too upset if you mixed in something not in “the box.” But it was pretty easy to get burned out on the most popular songs if you played them every…single…day.

By the time I left in the mid-80s, I’d heard about all the music I needed for a while. And the only easy way to listen to music at the time was… on radio stations with very “tight” playlists. Somebody else was picking my tunes.

It was nearly 15 years before the iPod rekindled my interest in music. I ripped the few CD’s I had and started buying music on iTunes. It was nice.

The idea of “streaming” music didn’t immediately appeal to me. I wanted to “have” the songs. But when Pandora came along a couple of years ago, I gave it a try and was immediately hooked.

Now I start each day at the Coffee Zone (6:30) by popping in the ear buds and firing up one of my “stations” on Pandora. More on those in a moment.

When I hear a song I like, I give it a thumbs up. If I don’t care for the song, thumbs down immediately rejects it. I think you can reject up to 5 songs an hour. If I want to give my station more variety, I can add and artist or a song and Pandora will start mixing in similar music. It isn’t perfect but over time, Pandora gets better and better at playing songs I like.

And I can have as many stations as I want. If I’m feeling funky, for example, I jump over to my Al Greene station.

Pandora keeps a record of every song I vote up or down, including the date and time I did so. You can check this out if your interested. I can also bookmark songs and/or artists and post a link to Twitter or Facebook.

I was surprised by some of my choices. And by the percentage of new music by artists I’d never heard of. And songs I don’t think I’d hear on our local radio stations. And certainly not commercial-free. You can listen to 40 hours of Pandora a month for free. I opted for the paid version (Pandora One) which cost $36/year. Best money I spend.

Apps for the iPhone and iPad, of course.

If this page had ads, you’d ignore them

Robin Wauters takes a look at the results of a new Adweek Media/Harris Interactive survey of about 2,100 U.S. adults. Topic: ads
“over six in ten respondents say they tend to ignore or disregard Internet ads. Among those who ignore online ads, two in five say they ignore banner ads (43 percent) the most, and one in five say they ignore search engine ads (20 percent) the most.”
Ms. Wauters notes Internet ad revenues in the U.S. are at an all-time high. What about other media?
“people who said they ignore ads on other media: television ads (14 percent), radio ads (7 percent) and newspaper ads (6 percent).”
If only 7% ignore radio ads, I’ll put that in the win column. Younger folks are more likely to ignore radio ads, compared to older people.
11% in the 18-34 demo say they ignore radio ads, compared to 6% 55+.
Ms. Wauters concludes her post by concluding all ads have to be better. Much better