America’s finest news source, The Onion, tries to answer the question that’s on the minds of many people in this country regarding the rising attendance at museums.
Here’s a link to the official Andrew Wyeth website and, after a quick look around, it seems that the staff at The Onion was being a bit generous in the “bleak” characterization.
Time really does fly when you’re having fun. It was three years ago today that I quit my job at semiconductor test equipment manufacturer Teradyne, Inc. in Southern California to head north and then head further north a couple years after that … we still never really look back.
The job market must be pretty awful for U.S.-based engineers these days. As I understand it, the facility where I worked in Agoura Hills that, at the peak of the tech boom had over 2,000 employees, is now down to about 10 or 20 percent of that.
I’m glad I only think about thinks like this once a year – on the anniversary of my departure in 2007 when the following post was offered up. It is reproduced in its entirety below.
After more than seven years, today is my last day at Teradyne, Inc. (NYSE: TER), a major manufacturer of test equipment for the semiconductor industry.
I’d like to thank all the great people I’ve worked with over the years and I wish you all the best of luck in the future.
Since joining the company in January of 2000, time spent here has been mostly enjoyable – writing software for a world-class semiconductor test platform has had more than its share of excitement and challenges.
I can’t say that the last year or two have been as enjoyable as some of the earlier ones. Maybe it was because I was distracted by other interests.
Maybe too it was because “perpetual fire drill” is no way to live and there’s been a steady stream of talented engineers out the front door. Despite assurances heard by employees, the attrition rate doesn’t look normal to me.
Yes, I know things are changing – good luck with that.
It’s shaping up to be another interesting few days ahead in the nation’s capital after last week’s group therapy session on health care and the subsequent jibber jabber over the weekend.
From the Tom Toles collection at the Washington Post.
Well, the good news about City Center in Las Vegas is that the elevators haven’t stopped working and the aquariums haven’t started leaking like they have in the Burj Khalifa in Dubai, the other White Elephant that Dubai World has a major interest in.
This Times Online story provides an update on the latest mega-project in Vegas:
JIM MURREN has heard it all. It started with “there’s no way you’re gonna survive this”, recalled the boss of the biggest casino group in Las Vegas, MGM Mirage. Then it was “well, it’s going to open but it’s going to be a pile of shit because you’re gonna cut corners”. And now they say: “It’s open but can you make money?”
…
At 18m sq ft, City Center is a city-within-a-city on the Las Vegas Strip, featuring, when fully complete, four hotels with 6,300 rooms, a giant casino, 2,400 homes, 42 restaurants and bars, four spas and a 500,000 sq ft shopping centre. Nothing, not even the Burj Khalifa in Dubai, the world’s tallest building, screams “boom-to-bust” louder. It was designed by world-class architects who command sky-high fees, including Britain’s Norman Foster. The boutiques — Gucci, Louis Vuitton, Cartier — are the stores nobody wants to shop in any more, even if they can afford to. Murren has also spent $40m on art, including sculptures by Henry Moore and Antony Gormley.
I’ll never forget what investor Jim Rogers wrote about the city of Las Vegas in his second book Adventure Capitalist – that it will be just a desert again in another century or two.
A note in this item from yesterday about never again commenting on the Hummer line of SUVs now that they appear to be headed to history’s scrapheap was clearly ill-advised.
In going over some old charts that integrated Case-Shiller home prices with various other data, the combination below was stumbled upon and updated for the occasion.
There is little hope that we’ll ever again see U.S. gasoline prices at under $2.00 a gallon for years at a time while home prices are also rising by 10 to 15 percent each and every year, but, if we do, don’t be surprised if the Hummer rises from the grave.
Yes, the historians are going to have a field day with that period – from about 2003 to 2006 when home equity crazed Americans were doing things they’d regret for the next ten years and alternative media such as blogs were there to document it all. For example, this item from early in 2006 captures the mood rather well, just before the bubble burst.
TOP STORIES
Harvard’s Rogoff Gives Legs to China Crash Talk – Bloomberg
European Union Moves Toward a Bailout of Greece – NY Times
Athens, E.U. appear closer to a deal on Greek debt crisis – Washington Post
Greece Now, U.K. Next as Investors Ready for Pound Plunge – BusinessWeek
City Center: Las Vegas puts $9bn on red – TimesOnline
Complexity and Collapse – Ferguson, Foreign Affairs
The Enthusiasm Gap – Robert Reich
America, the fragile empire – LA Times
MARKETS/INVESTING
Oil falls back below $80 as dollar strengthens – AP
Gold rises to 1-week high; strikes record in sterling – Reuters
Grantham’s ‘Horrifically Early’ Calls Challenge GMO – BusinessWeek
Calpers to review its rate-of-return assumption – Reuters
Wit And Wisdom Of Warren Buffett – Forbes




At 18m sq ft, City Center is a city-within-a-city on the Las Vegas Strip, featuring, when fully complete, four hotels with 6,300 rooms, a giant casino, 2,400 homes, 42 restaurants and bars, four spas and a 500,000 sq ft shopping centre. 
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