Archive for April 12th, 2008


Jefferson County - largest municipal bankruptcy ever

Jefferson County, Alabama thought they’d make extra money by doing interest rate swaps on their sewer bonds. It blew up in their faces. They have failed to post $184m in collateral, are in technical default, with bankruptcy apparently unavoidable.

A good rule of investing is, if you don’t understand it, don’t buy it. Did any of the Jefferson Country officials who ok’ed the swaps genuinely understand what they were doing and what the risks were? I doubt it. Robert Citron, who tanked Orange County in 1994 due to similar ultra-risky “investments” sure didn’t. He was responsible for the biggest county bankruptcy in US history. Until Jefferson County, that is.

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John Doerr: Not nearly enough money going to green tech

Famed venture capitalist John Doerr is conflicted. The pace of innovation in green technologies has been breath-taking in the past five years. Yet it’s not even close enough to address the scale of the world’s energy problems.

He says vastly more money and resources are needed. Yes, billions are being invested now by venture capitalists into cleantech, but that’s not nearly enough because of the scope of the challenge.

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Lonely?

Ncludr
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Living in fear

scary monster

Schneier on Security has an excellent post about how too many live in fear now, citing a mother who let her 9 yo son ride the NYC subway by himself, and got verbally attacked for doing so. He thinks, and so do I, that living one’s life thinking Scary Monsters threaten from all sides is nonsensical and self defeating.

NYC is actually quite safe now. The crime rate there is the same as in Provo, Utah.

A Feldenkrais practitioner told me about a fascinating study. They video’ed short clips of people at random walking down the street, showed them to criminals doing time for violent crimes, and asked, which ones are the victims. The inmates all choose the same people. And it wasn’t just the little old lady clutching her purse, they also choose a pumped bodybuilder.

The study then shown those chosen videos to an expert in body movement, and asked, what do these people all have in common? The answer: They are all using their bodies inefficiently. Rigid shoulders. Tense. Looking straight ahead. Not looking around, not paying attention to their surroundings. That’s what makes you a target.

A sociologist said in a long-ago college class that he, an Anglo, had been to Mecca once, and tried an experiment. He acted uncertain, and attempted to walk into a sacred Muslim-only area, and was politely told he wasn’t allowed. A little later, he acted confident, and walked in with no problem.

So, if you stay relaxed, pay attention to your surroundings, and act like you know where you’re going, you greatly reduce any chance of confrontation. And will probably enjoy things more as you’re doing so.

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