Showing posts with label stay. Show all posts
Showing posts with label stay. Show all posts

Sunday, March 16, 2014

In China, Michelle Obama to stay firmly in "mom in chief" mode




WASHINGTON Sun Mar 16, 2014 2:55pm EDT



U.S. first lady Michelle Obama eats with school kids after they harvested vegetables from the summer crop from inside the White House Kitchen Garden on the South Lawn in Washington, May 28, 2013. REUTERS/Larry Downing

U.S. first lady Michelle Obama eats with school kids after they harvested vegetables from the summer crop from inside the White House Kitchen Garden on the South Lawn in Washington, May 28, 2013.


Credit: Reuters/Larry Downing




WASHINGTON (Reuters) – U.S. first lady Michelle Obama is expected to steer clear of controversial issues such as human rights when she visits China this week but her trip could help advance a top item on her husband’s foreign policy agenda: deepening Washington’s ties with Beijing.


The week-long trip marks only the third foreign solo trip for Obama, who has cultivated a self-described “mom in chief” image, putting her energy into raising her daughters Malia, 15, and Sasha, 12, and signature domestic policy issues such as combating childhood obesity.


She has joked that her motto during her husband’s White House tenure has been to “do no harm.”


In keeping with that cautious approach, the White House said Obama’s message on the trip will focus on cultural ties between the two countries and “the power and importance of education” for young people in both countries.


But her trip, which will be front-page news in China and closely parsed by media, will carry important symbolic value.


“There’s no better surrogate for a president overseas than their spouse,” said Anita McBride, who was chief of staff to former first lady Laura Bush.


McBride said Obama’s visit with Chinese first lady Peng Liyuan can send a powerful diplomatic message, even if what they discuss has little to do with pressing bilateral issues.


“Those are images that convey a relationship,” she said.


Obama will also visit with students and schools, and take her daughters to see the famous Terracotta Warriors.


Since taking office in 2009, President Barack Obama has put a high priority on bolstering the U.S. relationship with China. That goal could take on even greater significance given the deep rift has opened up between the United States and Russia over the Ukraine crisis.


Former first ladies Laura Bush and Hillary Clinton used their time in the international spotlight to forcefully elevate tough questions about human rights abroad.


In 1995, Hillary Clinton, wife of former President Bill Clinton, criticized China’s human rights record in a speech at a United Nations conference in Beijing.


But it is unlikely that Michelle Obama, a Harvard-educated lawyer, will follow in their path.


“She has chosen a more traditional, non-confrontational role as a first lady,” said Laura van Assendelft, a political scientist at Mary Baldwin College. “Other first ladies have pushed those boundaries. Michelle Obama is not pushing any boundaries.”


As first lady, Obama traveled to Mexico in 2010 and to Africa the following year. A private trip to Spain in 2010 with daughter Sasha backfired when she was criticized for spending taxpayer funds on security for what amounted to a holiday.


Now that her husband is in his second term, and does not have to worry about being reelected again, Michelle Obama may take more foreign trips to advance policy goals, McBride said.


“You begin thinking about what you want to leave behind,” said McBride, now at American University in Washington.


Laura Bush traveled to 67 countries to talk about human rights and global health issues during the four years that McBride worked with her, including a notable visit to a refugee camp on the Thai-Burma border to shine a spotlight on conditions there.


THREE GENERATIONS


Obama will deliver another strong, if unspoken, message by taking her daughters and her mother, Marian Robinson, with her to China, said Robert Daly, director of the Wilson Center’s Kissinger Institute on China and the United States.


Robinson lives with the Obama family in the White House.


“The Chinese are very big on three generations under one roof. That is one of the cornerstones of their culture,” Daly said. “That will play very well in the Chinese media.”


Pictures of the three generations of four strong women will make a statement about women’s equality and opportunity, and shatter a stereotype long held by Chinese about how Americans mistreat their elders, he added.


Obama’s visit comes before her husband visits Asian allies Japan, South Korea, Malaysia and the Philippines in late April, a trip where the maritime dispute with China is expected to loom large.


China and Japan each claim sovereignty over a group of uninhabited islands in the East China Sea, and China is also fighting over territory in the South China Sea with the Philippines, Vietnam, Taiwan, Malaysia and Brunei.


Ahead of the president’s trip, the White House will want “sweetness and light” from Michelle Obama’s China visit, said Dan Blumenthal, an adviser on China issues in the former George W. Bush administration.


“She can just be who she is, and it’s a win. She doesn’t have to carry a tough message,” said Blumenthal, now director of Asian studies at the American Enterprise Institute think tank.


(Reporting by Roberta Rampton; Editing by Caren Bohan and Marguerita Choy)






Reuters: Politics



In China, Michelle Obama to stay firmly in "mom in chief" mode

Wednesday, February 5, 2014

Saving Up For Hillary Clinton 2016 — Priorities USA Super-PAC Will Stay Out of 2014 Mid-Terms

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Saving Up For Hillary Clinton 2016 — Priorities USA Super-PAC Will Stay Out of 2014 Mid-Terms

Tuesday, December 31, 2013

Supreme Court issues emergency stay halting birth control mandate for Catholic groups


By Scott Kaufman
Tuesday, December 31, 2013 22:26 EST


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  • According to the Associated Press, a Supreme Court justice has issued an emergency stay to halt the birth control mandate for Catholic organizations.


    Catholic organizations had petitioned the Supreme Court to stop those elements of the Affordable Care Act (ACA) that would have forced them to provide health insurance that included birth control coverage.


    The organizations asked the Court to issue the stay until they had a chance to make their argument before the Court. The full court has already agreed to hear constitutional challenges of the birth-control mandate, which will occur at a later time. According to SCOTUSBlog, those cases have not yet been scheduled for oral argument.


    These organizations claim that the ACA infringes on their freedom to practice their religion because the law requires they provide the use of contraceptives, which the Church forbids.


    The portions of the ACA to which these Catholic organizations objected would have gone into effect on Wednesday, January 1, 2014.


    ["Supreme Court" via Wikimedia Commons]

    Scott Kaufman


    Scott Kaufman


    Scott Eric Kaufman is the proprietor of the AV Club’s Internet Film School and, in addition to Raw Story, also writes for Lawyers, Guns & Money. He earned a Ph.D. in English Literature from the University of California, Irvine in 2008.








    The Raw Story



    Supreme Court issues emergency stay halting birth control mandate for Catholic groups

Tuesday, December 17, 2013

A Reminder – Stay Above It


Wednesday, December 18th, 2013. Filed under: Inspiration


bill-hicks-and-george-carlin-explain-the-nature-of-reality-in-autotune-video-the-big-electron


Can’t summarize it better than this. Not all inclusive, but again a powerfully poignant reminder. Love, Zen







Just Wondering – Alternative News and Opinions



A Reminder – Stay Above It

Friday, November 29, 2013

Obama: We May Stay In Washington After Second Term Ends



ABC News: The first family might choose to stay in Washington, D.C., after President Obama leaves office in 2016, the president and first lady Michelle Obama told ABC News’ Barbara Walters in an interview.


By then, their eldest daughter Malia will be in college, and their youngest daughter Sasha will still be in high school as a sophomore.


“So we’ve gotta—you know we gotta make sure that she’s doin’ well… until she goes off to college,” the president said. “Sasha will have a big say in where we are.”




RealClearPolitics Video Log



Obama: We May Stay In Washington After Second Term Ends

Monday, November 25, 2013

Here"s How to Fix "Black Thursday": Stay Home

Here"s How to Fix "Black Thursday": Stay Home
http://thedailynewsreport.com/wp-content/uploads/2013/11/02d5e__p-89EKCgBk8MZdE.gif


(Newser) – Based on the Facebook outrage and all the online petitions, a huge chunk of America is pretty upset about the growing trend of stores opening on Thanksgiving Day. But, uh, the way to fix this has nothing to do with signing a petition and posting it on your Facebook wall, writes Ellen Galinsky for Time. “All you have to do is do something else on Thanksgiving Day other than opening your wallet.” It’s that easy: “Don’t go shopping on Thanksgiving. Just don’t.”


Research—including that done by the Families and Work Institute, which Galinsky co-founded—shows that holidays are “critical to keeping employees healthy and productive.” And what’s to say the trend of working on Thanksgiving won’t eventually shift from retail to non-essential white collar jobs? “After all, 50 years ago no one would have thought that professionals would be working nights and weekends, and we all know how that turned out,” Galinsky writes. Matt Walsh had a similar take on the Huffington Post last week: “If you shop on Thanksgiving, you are part of the problem.” Click for his full column, or Galinsky’s full column.




Lifestyle from Newser




Read more about Here"s How to Fix "Black Thursday": Stay Home and other interesting subjects concerning Living at TheDailyNewsReport.com

Friday, November 22, 2013

Will Radel stay or will he go?




  • Boehner on Rep. Radel: “The issue is between he and his family and his constituents”

  • Boehner has been praised by congressional watchdogs for not tolerating misconduct

  • Radel is seeking treatment for substance abuse but retains his office






Rep. Radel: “I want to be a better man”





Rep.Trey Radel ‘I’m sorry’


Washington (CNN) — House Speaker John Boehner has a liability on his hands.


Rep. Trey Radel, R-Florida, has taken a leave of absence after pleading guilty to misdemeanor cocaine possession.


Boehner has been praised by congressional watchdogs for having little tolerance for derelict members of Congress.


But for now, Radel is retaining his seat.


“I believe that members of Congress should be held to the highest ethical standard,” Boehner told reporters Thursday. “The issue is between he and his family and his constituents.”


Other members of Congress caught in compromising situations heard a similar refrain from the speaker.


After Rep. Chris Lee, R-New York, was caught soliciting women with shirtless selfies on Craigslist in 2011, the watchdog group Citizens for Responsibility and Ethics in Washington (CREW), said that Boehner “serves as a ruthless judge and jury within his party when it comes to the extracurricular activities of members of his conference.”


While Boehner insisted that it was Lee’s decision, the New Yorker immediately resigned his seat.


Boehner said, “members should be held to the highest ethical standard.”


That’s not the only time Boehner has given this canned response. When Republican Rep. Mark Souder of Indiana admitted to having an affair with a staffer in 2010, Boehner’s spokesman at the time said “he will hold our members to the highest ethical standards.”


And when Republican Vito Fossella of New York was arrested for drunk driving in 2008 and then admitted to having a child in an extramarital affair, Boehner said his political future is a “decision between he, his family and his constituents.”


Lee and Souder resigned immediately. Fossella did not seek re-election, which was just a month out. While Boehner took no credit for the members’ decision to step down, the situation behind the scenes is likely much different.


Radel’s office confirmed to CNN on Thursday that the congressman has checked into a drug treatment facility.


His office released this statement: “Today, I checked myself into a facility to seek treatment and counseling. It is my hope, through this process, I will come out a better man. I will work hard to gain back the trust and support of my constituents, friends and most importantly, my family.”


While Radel retains his seat, Melanie Sloan, executive director of CREW, said she doesn’t “see how he survives this.”


Boehner and the Republican Party should have little tolerance for Radel, who is the first member of Congress since at least the 1980s to be caught with drugs, Sloan said.


“It’s surprising that they haven’t pushed Radel out yet,” Sloan said.


A senior House GOP aide said Boehner is coming down lightly on Radel because his is an issue of “addiction and substance abuse.”


Sloan immediately dismissed that justification. She said cocaine use is “pretty bad” and that blaming drug use on alcohol addiction is “irrelevant.”


Members of Congress are “supposed to uphold the law,” she said.


Radel, who has been in office for 11 months, is a first-time politician.


The former TV journalist-turned conservative radio talk show host represents the southwest Florida coastal cities of Fort Myers and Naples.


Radel’s future comes with political risks.


Radel represents a safe Republican district. It contains the fewest registered Democrats in the state and he won election with 62% of the vote.


If he stays, voters in the popular retirement community might not be forgiving. With the election a year away, there’s still plenty of time for Republicans to find a replacement. Or the party could stay out of it and wait to see whether a Republican challenges Radel in the primary, assuming he decides to run again.


Who is Trey Radel?


Back in Washington, the congressman responsible for getting Republicans elected to the House, Rep. Greg Walden, R-Oregon, offered a noncommittal response about Radel’s future.


“He’s going to need to explain what happened and then make some decisions,” Walden, chair of the National Republican Congressional Committee, said Wednesday.


House Minority Leader Nancy Pelosi said Radel’s drug use shows “inconsistency” within the Republican Party, which is pushing drug-testing of food stamp recipients, a position Radel voted for this summer.


Ethics problems are not confined to the Republican House.


Democrats Eric Massa of New York quickly left office after he was accused of sexual harassment, as did Anthony Weiner for posting lewd pictures of himself on Twitter.


There appears to be a little more tolerance in the Senate. Republican Mike Crapo of Idaho still holds his seat after pleading guilty to drunk driving and Sen. David Vitter, R-Louisiana, remains in office after his involvement with a prostitute.


Sen. John Ensign, R-Nevada, resigned amid an ethics investigation that involved an extramarital affair. Sen. Larry Craig, R-Idaho, also resigned after alleging soliciting a police officer for sex in an airport bathroom.


CNN’s Deirdre Walsh contributed to this report




CNN.com – Politics



Will Radel stay or will he go?

Wednesday, November 20, 2013

US troops could stay in Afghanistan until 2024

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US troops could stay in Afghanistan until 2024

Tuesday, November 19, 2013

Fed"s Yellen: policy to stay easy after threshold crossed -letter

Fed"s Yellen: policy to stay easy after threshold crossed -letter
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Janet Yellen, President Barack Obama’s nominee to lead the U.S. Federal Reserve, is sworn in to testify at her U.S. Senate Banking Committee confirmation hearing in Washington November 14, 2013.


Credit: Reuters/Jason Reed




Reuters: Economic News




Read more about Fed"s Yellen: policy to stay easy after threshold crossed -letter and other interesting subjects concerning Economy at TheDailyNewsReport.com

Fed"s Yellen: Policy to stay easy after threshold crossed - letter


Janet Yellen, President Barack Obama’s nominee to lead the U.S. Federal Reserve, is sworn in to testify at her U.S. Senate Banking Committee confirmation hearing in Washington November 14, 2013.


Credit: Reuters/Jason Reed




Reuters: Top News



Fed"s Yellen: Policy to stay easy after threshold crossed - letter

Sunday, November 10, 2013

Why Can"t Ted Stay Out Of The Emergency Room?

Why Can"t Ted Stay Out Of The Emergency Room?
http://isbigbrotherwatchingyou.com/wp-content/uploads/2013/11/b44ba__emergency_wide-957b55a1b36bb357abff1ee104a1ed70059f29c2-s6-c30.jpg





A nurse’s phone call at the right time can prevent a trip to the ER.



W. Steve Shepard Jr. /iStockphoto.com



A nurse’s phone call at the right time can prevent a trip to the ER.


W. Steve Shepard Jr. /iStockphoto.com



A 40-something patient I’ll call Ted has a list of conditions that would have tongue-tied Carl Sagan. Even though I see Ted in my clinic every month, he still winds up visiting the emergency room 20 times per year.


Yes, 20.


Before he became my patient, he went even more frequently. So, the current situation, bad as it may be, represents halting progress.


Inside the hospital, Ted is what’s known as a frequent flier, a patient we see over and over again. Unlike airlines, hospitals don’t offer people like Ted perks or first class upgrades. In fact, they often get worse customer service, like the apocryphal boy who cried, “Wolf!”


Patients like Ted attract a lot of attention from hospital administrators and health policy wonks. Ted’s on Medicaid. And he’s a heavy user of health services. Recent Medicaid data show that the top 5 percent of patients account for more than half of all Medicaid spending.


Intuition says if we can improve the health of frequent fliers then we stand to reduce our nation’s spending on health care. This is an idea that some health innovators call hot-spotting.


But how do we do it?


Turns out that it’s not easy for doctors to move the needle. I see Ted every month, deal with his current health concerns and tweak his medications. But it’s still not enough to keep him from making what I consider frequent, unnecessary trips to the hospital.


His needs go well beyond his office visits with me. A lot of his problems are more prosaic: transportation, basic nutrition and getting his medication filled easily and on time.


This is where our new nurses come in. As part of a Medicare pilot project, our Tulsa, Okla.-based academic practice is paid up to $ 40 a month for each high-risk patient so we can focus on prevention as much as treatment.


The money allows us to employ nurses who work the phones, calling high-risk patients and talking them through their anxieties, reinforcing the need for them to take their medicine, troubleshooting transportation and scheduling screening services.


This last bit really pays off. When patients like Ted come into the office, I almost never have time to deal with the preventive medicine issues because there are so many immediate needs to take care of.


Not only do the nurses schedule colonoscopies and mammograms, they follow through to make sure that patients are educated about the tests’ purpose and that they actually get done.


I was so intrigued by what our new nurses do that I’ve started attending their staff meetings.


Every month we receive an overview of our practice and the number of patients deemed high-risk. We are now swimming in data: how many times patients visit the ER, how many times they are hospitalized, how quickly we see them when they leave the hospital and how often they get readmitted for the same condition.


Our goal with all of those measures is the same: drive them down. We are on a mission to both improve care and contain costs. The data also includes stats on our success with offering and completing preventive services.


It’s a whole new way of looking at our work. Our perspective has moved from a string of one-on-one encounters that are the traditional lifeblood of medical practice to an aerial view of the whole enterprise. It makes me feel like an Apollo astronaut seeing the earth from above for the very first time. It’s an inspiring view.


John Henning Schumann is a primary care doctor in Tulsa, Okla., where he teaches at the University of Oklahoma School of Community Medicine. He’s on Twitter: @GlassHospital




News




Read more about Why Can"t Ted Stay Out Of The Emergency Room? and other interesting subjects concerning NSA at TheDailyNewsReport.com

Friday, November 1, 2013

Bondholders lose bid to lift stay in Argentina litigation

Bondholders lose bid to lift stay in Argentina litigation
http://currenteconomictrendsandnews.com/wp-content/uploads/2013/11/f91bf__p-89EKCgBk8MZdE.gif



NEW YORK | Fri Nov 1, 2013 11:45am EDT



NEW YORK (Reuters) – A U.S. appeals court declined Friday to lift a freeze on an order requiring Argentina to pay $ 1.33 billion in favor of bondholders suing for repayment in the wake of the country’s 2002 default.


The 2nd U.S. Circuit Court of Appeals in New York denied a motion to lift a stay it issued in favor of Argentina pending U.S. Supreme Court review of a ruling in favor of holdout bondholders.


The request to lift the stay was made October 15 by bondholders led by hedge funds Elliott Management Corp’s NML Capital Ltd and Aurelius Capital Management LP.


(Reporting by Nate Raymond in New York; Editing by Gerald E. McCormick)



Reuters: Business News




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Monday, October 21, 2013

Consumer Reports: ‘Stay Away From HealthCare.gov’


Alec Torres
National Review
October 21, 2013


Untitled-7Consumer Reports, which publishes reviews of consumer products and services, advised its readers to avoid the federal healthcare exchange “for at least another month if you can.” “Hopefully that will be long enough for its software vendors to clean up the mess they’ve made,” the magazine said, having tested the site themselves over the course of the past three weeks.


Noting that only 271,000 of the 9.47 million people who tried signing up in the first week were managed to create an account, Consumer Reports then provided a few tips to those attempting to slog through the application processt. From attempting successive logins because “error messages … may not always match reality” to checking your inbox frequently because if you miss an email you’ll be timed out of the site and forced to start from square one, none of the suggestions guaranteed success.


The magazine has also released a string of scathing reviews. On October 1, the day the Obamacare exchanges went online, the magazine told people to be patient: “Don’t worry if you can’t sign up today or even within the next couple of weeks.” A week into enrollment, they urged again to “wait a couple weeks and hope that the site irons out its many problems” because the HealthCare.gov is “barely operational.”


Read more


This article was posted: Monday, October 21, 2013 at 10:38 am


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Infowars



Consumer Reports: ‘Stay Away From HealthCare.gov’

Consumer Reports: ‘Stay Away From HealthCare.gov’


Alec Torres
National Review
October 21, 2013


Untitled-7Consumer Reports, which publishes reviews of consumer products and services, advised its readers to avoid the federal healthcare exchange “for at least another month if you can.” “Hopefully that will be long enough for its software vendors to clean up the mess they’ve made,” the magazine said, having tested the site themselves over the course of the past three weeks.


Noting that only 271,000 of the 9.47 million people who tried signing up in the first week were managed to create an account, Consumer Reports then provided a few tips to those attempting to slog through the application processt. From attempting successive logins because “error messages … may not always match reality” to checking your inbox frequently because if you miss an email you’ll be timed out of the site and forced to start from square one, none of the suggestions guaranteed success.


The magazine has also released a string of scathing reviews. On October 1, the day the Obamacare exchanges went online, the magazine told people to be patient: “Don’t worry if you can’t sign up today or even within the next couple of weeks.” A week into enrollment, they urged again to “wait a couple weeks and hope that the site irons out its many problems” because the HealthCare.gov is “barely operational.”


Read more


This article was posted: Monday, October 21, 2013 at 10:38 am


Tags: healthcare










Infowars



Consumer Reports: ‘Stay Away From HealthCare.gov’

Friday, October 18, 2013

Solar Drones to Stay Aloft for Years at a Time



DARPA’s Vulture Program
Boeing 400-foot prototype Solar Eagle

Nicholas West
Activist Post


Even as the debate intensifies over the scope of drone warfare and surveillance, significant upgrades continue and the drone industry booms. Recently we have seen the Navy successfully test autonomous drone takeoffs and landings at sea, while Boeing has begun to retrofit its decommissioned F-16s into pilotless fighter jets.


This trend toward a future of autonomous fleets of large-scale war fighters is developing in tandem with the trend toward miniaturization and the mimicking of nature itself to hide drone tech in plain sight.


The latest developments focus on ways to not only get new drone models aloft via remote control, or through their own autonomous decisions, but how to keep them there for as long as possible  - perhaps even permanently.


Toward the end of 2011 a program called MUSIC was made public and revealed the goals of Future Combat Systems – essentially a network of ground-based and sky-based systems that could communicate and operate as a seamless and permanent intranet of war and surveillance.


Since that time, the technology has been publicly rolled out demonstrating the capability for drones to stay aloft for increasing periods of time. This was revealed in a drone industry report provided by Aerospace and Defense News covering plans for 2013-2023, where it states:

Laser-powered UAVs are powered by a laser transmitter which converts power from a primary source, such as a battery, generator or AC powerline, into a single-wavelength beam of light. These UAVs are capable of staying airborne for their entire lifecycle as this method of recharging avoids the need to land and refuel, which may also improve the lifecycle and maintenance costs as much of the damage incurred by UAVs occurs while landing. (Source)


It is important to note that these drones eventually will be equipped with the latest in biometric capabilities, namely facial recognition, as was announced in the following Associated Press article:

From seeing just the image of a face, computers will find its match in a database of millions of driver’s license portraits and photos on social media sites. From there, the computer will link to the person’s name and details such as their Social Security number, preferences, hobbies, family and friends. 

Adding that capability to drones that can fly into spaces where planes cannot — machines that can track a person moving about and can stay aloft for days — means that people will give up privacy as well as the concept of anonymity. (Source)


The fact that what used to be conspiracy talk is now openly discussed in corporate media as we head toward a full implementation of drones over the U.S. by 2015 is likely not a coincidence.


With this as the backdrop, there have been some recent announcements in the area of solar-powered drones that bear watching.


CBS News recently reported that Titan Aerospace has developed its Solara line of drones which can fly continuously for up to five years.

The larger Solara will be 60 meters wide and have the ability to carry about 250 pounds. 

Cruising speed for the Solara is about 65 mph, and the unmanned craft will have an operating range of over 2.8 million miles. 


The Solara series are designed to be a fraction of the cost of a satellite, but operate many similar tasks, such as surveillance, crop-monitoring, weather and disaster oversight, or any other monitoring that low-altitude satellites track. 


[...] 


Titan Aerospace is based out of New Mexico, and a report from Breaking Defense finds that defense and intelligence customers such as the CIA, NRO and NGA are the most obvious interested buyers. The company has reportedly held preliminary talks with intelligence agencies about the use of the Solara aircraft. (Source)


Here is the promo video:



The solar concept is also being offered as the next gen tech to be applied to already existing micro drones that are designed to mimic nature. In May of this year, I covered the announcement of a 3D printed drone called Robo Raven that utilizes 3D-printed components to produce a first of its kind: independently flapping wings.


The new version of Robo Raven features solar cells added to its wings:

Because Robo Raven’s large wings have enough surface area to create a usable amount of solar energy, the team decided to incorporate flexible solar cells into them. The captured solar energy is then used to supply Robo Raven’s onboard batteries. “These new multi-functional wings will shape the future of robotic birds by enabling them to fly longer, farther, and more independently because they will be getting their power from the sun” says ME Ph.D. student Luke Roberts, a member of the Robo Raven team. (Source)

Robo Raven III can be seen in the next video:



As noted by Ars Technica, the concept of solar powered flying machines has existed since the late 1970s, but just now is being incorporated into drone tech in an effective way. And lest anyone believe that this technology is not intended for full use over the United States, an interesting map is offered in the Ars Technica article linked above showing the range of the solar drone, Solara 50.



Ars concludes as follows:

Titan already has customer reservations for the first three of its Solara drones, two of which are intended to serve as communications relays (though the customer has not been identified). The first will be delivered in February, with manufacturing ramping up for monthly delivery starting in April.

When we begin to put the pieces together (the ones that are fully out in the open), we can look at what exists overseas for guidance as to what will be arriving in America. As we now know through the latest Snowden revelation, the NSA has been instrumental through a special division to accumulate data on targeted individuals which has been used in at least one case to kill an alleged associate of Bin Laden.


I like to typically conclude these drone articles by showing the following two videos, as they highlight the massive scope of what can be observed – as in the first video – and plans for expanding surveillance and killing right down to the insect and nano-level, seen in the second video.


With up to 110 drone bases inside the U.S.having been announced, and the U.S. government still framing the legal justification for killing Americans, while corporate media yells for whistleblowers to become “targeted individuals,” we’d better learn what’s in store for us and speak up now before it’s game over.




Additional source:
UAV evolution – how natural selection directed the drone revolution


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Solar Drones to Stay Aloft for Years at a Time

Sunday, October 6, 2013

Extended Stay And The Wall Street Meth Labs


When Wachovia and the rest of its syndicate funded the $ 7.4 billion debt portion of the transaction on a bridge loan basis, they had an analysis from Standard & Poor’s which said the company was only worth $ 4.8 billion. So on the eve of the “fee fest” occasioned by Blackstone’s IPO, the Wall Street banks wrote a bridge loan for 150 percent of what even their hirelings at the rating agencies believed Extended Stay America was actually worth.


As indicated, Extended Stay’s assets were essentially drywall motel rooms painted in three colors. The reason presumably adult bankers believed such flimsy assets could be leveraged at 150 percent of their ostensible value was that they were in the business of hiding the pea.


Thus, the senior portion of the financing consisted of $ 4.1 billion of mortgage loans that were dumped into a structured finance pool, or “conduit,” known as a commercial mortgage-backed security (CMBS). Then this huge pool of debt was sliced into eighteen different tranches. Six of these tranches were given the highest AAA rating, meaning that the $ 2.6 billion of mortgage-backed securities issued from this tranche had first call on the cash from interest and principle payments coming into the pool. Below that there were many more tranches, each with a lower claim on the mortgage pool’s cash, and therefore a greater risk of loss.


And that was the simple part! The CMBS debt had a direct lien on the hotels in the operating subsidiaries, but there were many more layers—$ 3.3 billion worth—which did not own anything except the stock of subsidiaries which had already hocked all of their hard assets. This so-called mezzanine or subordinated debt was also sliced into a dozen different layers, and each was subject to mind-boggling complexities with respect to access to cash flow from the hotels.


The details of this capital structure were daunting, but the purpose was crystal clear; it was designed to turn a sow’s ear into a silk purse. During boom times these subordinated tranches were saleable to high-yield mutual funds and credit-oriented hedge funds because they were designed to satisfy the hunger for “yield” which had been induced by the Fed’s interest rate repression policies. In truth, however, these junk securities were vastly overvalued relative to their embedded risks. So when the US economy weakened and hotel revpar began to head south in 2008 the subordinated tranches plummeted in value.


The sudden, drastic repricing of these subordinated debt tranches, which had been replicated by Wall Street in thousands of so-called “structured finance” deals, was the proximate cause of the September 2008 meltdown. This is powerfully illustrated by the fate of the $ 7.4 billion Extended Stay financing, much of which remained stuffed in the Wall Street meth labs until the very end.


Thus, Wachovia still held $ 1.5 billion of the Extended Stay financing, while Bank America had retained $ 1.4 billion and Bear Stearns $ 1.1 billion. But underneath the surface the picture was even worse. Each of the three underwriters of this deal would soon join the ranks of the departed, and one of the reasons was that they had disproportionately retained the bottom- dwelling sludge from their structured finance labs.


In this case, Wachovia’s retention included about $ 1 billion of the lowestrate mezzanine tranches, and the other two underwriters each had close to $ 1 billion of this sludge as well. Overall, the three underwriters had retained nearly 85 percent of the $ 3.3 billion of mezzanine debt issued to fund the Extended Stay deal; it was worth virtually nothing and had proved unsalable even after Cramer issued the “all clear.”


Moreover, when the army of nomad workers who occupied the Extended Stay rooms twenty days at a crack were demobilized by the faltering economy in 2008, revpar plummeted by 25 percent. Soon EBITDA was falling drastically below plan, even as it became evident that Blackstone had bagged Lichtenstein with tired and under-maintained hotel rooms that needed far more capital expenditure than provided for in the selling memo that had accompanied the “stapled financing.”


Indeed, with debt at nearly $ 100,000 per room an honest free market interest rate would have required more than $ 10,000 per room in debt service, or three times the available free cash flow. The Extended Stay deal was thus not even a zombie; it was dead in the water the moment Blackstone’s pitiful posse of underwriters trotted out their “stapled financing.”


By the time of the Wall Street meltdown it was all over but the shouting, and Lighthouse did file for bankruptcy in June 2009. What the latter process revealed was the true essence of bubble finance. A court-ordered appraisal showed that the hotel company assets were worth just $ 2.8 billion, or only 35 percent of the $ 8 billion purchase price.


What this finding meant was that Extended Stay America was not worth even the $ 4.1 billion of secured mortgage debt which had financed the deal. The entire $ 3.3 billion in the mezzanine tranches was purely bottled air, and yet it was the latter which had financed Blackstone’s famous $ 2.1 billion payday on the eve of its IPO.


Budget Director under President Reagan and partner at private-equity firm Blackstone Group, David Stockman skewers the Fed-induced LBO of Extended Stay America that amounted to a scam. This is the second installment of the Extended Stay debacle, from Chapter 26 of his bestseller, THE GREAT DEFORMATION: THE CORRUPTION OF CAPITALISM IN AMERICA. For the prior installment that lays out the propitious beginning of the Extended Stay debacle, click here. 



BlackListedNews.com



Extended Stay And The Wall Street Meth Labs