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Globalization 3.0 -- Sneakers, Call Centers, Banking?
When the Obama administration suggested a cap executive salaries for banks on national dole, news quickly bubbled up about all the loopholes behind the announcement. Bankers bristled at the mere idea of caps. It occurred to Bank of America that they really didn't need any federal money after all. Deutsche Bank cheekily predicted that US bankers would defect to Europe. But according to this news report, bankers don't earn as much in Europe or anywhere else as they do in the US. Not only that, excessive banker salaries are being criticized in Europe, Japan, and China, although in Japan and China bankers make about $400K per year. So far China's not recruiting US bankers, although they are recruiting scientists. Maybe someday soon, when bankers think the rules are too tough to grapple with in the US, they'll be able to seize the day in China.
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California Floods of the Future
Rain may be causing consternation about flash floods in California, but scientists are thinking about even more intense flooding when global warming causes the seas to rise. A study by the University of Oregon and University of Toronto published last week in Science, found that the melting Antarctic and resultant collapse of the ice sheet would cause sea levels to increase differently in different parts of the world.
The Intergovernmental Panel on Climate Change (IPCC) has warned that as the Western Antarctic ice sheet melted it cause the sea level to rise 5 meters. However this uniform rise of sea levels may not happen. Instead the seas will rise more in some places, like North America and the Indian Ocean, than others, like Antarctica.
The paper's authors discuss with the NSF three effects that will contribute to the uneven rise in sea levels. Now, because of the ice-water gravitational attraction, the Antarctic ice sheet draws water to it. But as the ice sheet melts, less water will be drawn to it and more will flow to North America. Second, the Antarctic ice sheet now sits in a hole, caused partly by the weight of the ice mass. As that mass melts, the depression will become smaller -- so more water will flow to North America. Finally, the melting ice sheet would alter the rotational force of the Earth, so the South Pole will move, shifting water away from the pole to other places, like the west coast of the United States.
In California, climate change has the potential to endanger $2.5 trillion in real estate assets.
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Dams for Water -- And Quakes?
Speaking of water damage, was the earthquake in China hastened by the dam? Scientists are suggesting that the weight of water in the Zipingpu reservoir, created by the massive Zipngdu dam in the Minjiang river affected the seismicity of the Beichaun fault a mile away and perhaps contributed to the timing and dynamics of the 7.9 Sichuan earthquake. (The excellent movie "Up The Yangtze" followed the dam building on the lives of one family.)
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Worst Job -- Marine Biologist?
Rising seas, more marine biology? It was my dream job as a child, but apparently it doesn't suit everyone. Unable the get a job for three years as a graduating economist from UC Davis, Daniel Seddiqui set out to try 50 jobs in 50 states. His best job so far, he says, was border patrol, tracking immigrants on the border. His worst? Working as a marine biologist in Seattle. "Boring", he said. At the moment you can't find out the details of his ennui on account of the 404, but a couple other scientific-ish careers seemed to please him more. See him on Fox News or wait for the book.
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A World of Cheaters and Crooks?
Some of Obama's recent picks for leadership positions have stepped aside with tax payment problems. Tom Daschle will not head Health and Human services. Nancy Killefer withdrew her name as chief performance officer. And Friday the Senate committee reviewing Rep. Hilda Solis's nomination for Labor Secretary canceled their meeting because of outstanding liens -- some 16 years old -- on Solis's husband's business. Timothy Geithner managed to get through with his much larger unpaid tax obligations, that's before we understood how popular tax evasion was.
While Republicans rally for some populist rage around these tax missteps, one "senior Democratic official" told the Financial Times (Feb. 3, 2009): "In practice, you have to make exceptions for individuals. Very few people can withstand such scrutiny." Really?? I will never apply then. How embarrassing would it be to admit to some wealth-conscious senatorial committee that my only perk is an annual Medecin Sans Frontieres map of the world's trouble spots?
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The Consumer Product Safety Improvement Act: Senators Sing, Dance, and Beg for Phthalates and Lead
The Consumer Product Safety Improvement Act that goes into effect Tuesday will make it illegal for stores to sell products for children under twelve that contain dangerous levels of lead, and products for kids under three that contain dangerous levels of phthalates that cause deleterious effects on development in babies. Consumer groups were denied their request to delay the law by federal Consumer Product Safety Commission last week.
But some US senators chafe at the idea of losing toys like the Valentine's Day mechanical singing-and-dancing plush animals with red plastic guitars -- the toxic lead containing "Wild Thing Gorilla", "Ain't Too Proud to Beg Dog", the "Sing & Dance Puppy". The LA Times reported last week that Sen. Robert F. Bennett (R-Utah) "introduced a bill Thursday that would postpone the law, and Sen. Jim DeMint (R-S.C.) introduced a stimulus package amendment that would block the law.
