
Paul Pacter forwarded the above
photograph of a New Hampshire black bear.
This looks like the same big bear that rips out the bird feeders on our deck.
Unlike their brown bear cousins in the West, black bears are really not very
dangerous unless provoked.
They have a gentle disposition, but then again they really love bird food and
dumpsters.

The best boss I ever
had, Don Edwards, took the above picture of Erika and me on August 4, 2008 the
American Accounting Association annual meetings in Anaheim, California. Don was
the Chairman of the Department of Accounting, Finance, Insurance, and Real
Estate at Michigan State University when I finished up my doctoral degree at
Stanford in 1966. I had the privilege of teaching MSU doctoral seminars to some of
the best doctoral students ever recruited (largely due to the efforts of Dr.
Edwards). These students included Bill Kinney, Paul Pacter, Bob May, Ron Copeland, Barry
Cushing, Jim McKeown, Bill Morris, Fred Davis, Pat McKinsey, Gene Sauls, and
many others. You can read more about James Don Edwards in his Accounting Hall of
Fame module at
http://fisher.osu.edu/departments/accounting-and-mis/the-accounting-hall-of-fame/membership-in-hall/james-don-edwards/
Sadly in those days, I was overly
enamored with mathematical programming and statistical theory to a fault. I lost
sight of my way in accounting history and service to the profession of
accounting. But is was so much fun playing in the sandbox of eigenvector scaling
models in a Analytic Hierarch Process (AHP) world of hypothetical decision
making ---
http://www.trinity.edu/rjensen/resume.htm#Published
In an excellent plenary session
presentation in Anaheim on August 5, Professor Zoe-Vanna Palmrose mentioned how advocates
of fair value accounting for both financial and non-financial assets and
liabilities should heed the cautions of George O. May about how fair value
accounting contributed to the great
stock
market crash of 1929 and
the ensuing
Great Depression.
Afterwards Don and I lamented that
accounting doctoral students and younger accounting faculty today have little
interest in and knowledge of accounting history and the great accounting
scholars of the past like George O. May ---
http://en.wikipedia.org/wiki/George_O._May
Don mentioned how the works of George
O. May should be revisited in light of the present movement by standard setters
to shift from historical cost allocation accounting to fair value re-measurement
(some say fantasy land or phantasmagoric) accounting ---
http://www.trinity.edu/rjensen/theory01.htm#FairValue
In the United
States, virtually all accounting doctoral programs (except for Central Florida
University) are focused on "accountics" (mathematics, econometrics, and
psychometrics). Alternate research methodologies of archival history, field
studies, and case method disappeared from the academy of accountancy. You can
read reasons for such losses at the following sites:
Whereas in
humanities and science, there are experts on the history of ideas, theories,
discoveries, and noted scholars throughout time, there are virtually no new
scholars of accounting history and no U.S. doctoral programs offer study tracks
in accounting history. In the fields of management, organization theory, and
sociology, the histories of theories and theorists are central to modern-day
scholarship ---
http://www.trinity.edu/rjensen/theory/00overview/GreatMinds.htm
How long has it
been since The Accounting Review (TAR) published an accounting history
paper?
How long has it been since a TAR paper focused even in part on accounting
theorists before 1960?
See
http://www.trinity.edu/rjensen/395wpTAR/Web/TAR395wp.htm
In the first 40 years
of TAR, an accounting “scholar” was first and foremost an expert on
accounting. After 1960, following the Gordon and Howell Report, the
perception of what it took to be a “scholar” changed to quantitative
modeling. It became advantageous for an “accounting” researcher to have
a degree in mathematics, management science, mathematical economics,
psychometrics, or econometrics. Being a mere accountant no longer was
sufficient credentials to be deemed a scholarly researcher. Many
doctoral programs stripped much of the accounting content out of the
curriculum and sent students to mathematics and social science
departments for courses. Scholarship on accounting standards became too
much of a time diversion for faculty who were “leading scholars.”
Particularly relevant in this regard is Dennis Beresford’s address to
the AAA membership at the 2005 Annual AAA Meetings in San Francisco:
In my eight years in
teaching I’ve concluded that way too many of us don’t stay
relatively up to date on professional issues. Most of us have some
experience as an auditor, corporate accountant, or in some similar type
of work. That’s great, but things change quickly these days.
Beresford [2005]
Jane Mutchler made a
similar appeal for accounting professors to become more involved in the
accounting profession when she was President of the AAA [Mutchler, 2004,
p. 3].
In the last 40 years,
TAR’s publication preferences shifted toward problems amenable to
scientific research, with esoteric models requiring accountics skills in
place of accounting expertise. When Professor Beresford attempted to
publish his remarks, an Accounting Horizons referee’s report to
him contained the following revealing reply about “leading scholars” in
accounting research:
1. The paper provides
specific recommendations for things that accounting academics should be
doing to make the accounting profession better. However (unless the
author believes that academics' time is a free good) this would
presumably take academics' time away from what they are currently doing.
While following the author's advice might make the accounting profession
better, what is being made worse? In other words, suppose I stop reading
current academic research and start reading news about current
developments in accounting standards. Who is made better off and who is
made worse off by this reallocation of my time? Presumably my students
are marginally better off, because I can tell them some new stuff in
class about current accounting standards, and this might possibly have
some limited benefit on their careers. But haven't I made my colleagues
in my department worse off if they depend on me for research advice, and
haven't I made my university worse off if its academic reputation
suffers because I'm no longer considered a leading scholar? Why
does making the accounting profession better take precedence over
everything else an academic does with their time?
As quoted in Jensen [2006a]
The above quotation
illustrates the consequences of editorial policies of TAR and several
other leading accounting research journals. To be considered a “leading
scholar” in accountancy, one’s research must employ mathematically-based
economic/behavioral theory and quantitative modeling. Most TAR articles
published in the past two decades support this contention. But according
to AAA President Judy Rayburn and other recent AAA presidents, this
scientific focus may not be in the best interests of accountancy
academicians or the accountancy profession.
In terms of citations,
TAR fails on two accounts. Citation rates are low in practitioner
journals because the scientific paradigm is too narrow, thereby
discouraging researchers from focusing on problems of great interest to
practitioners that seemingly just do not fit the scientific paradigm due
to lack of quality data, too many missing variables, and suspected non-stationarities.
TAR editors are loath to open TAR up to non-scientific methods so that
really interesting accounting problems are neglected in TAR. Those
non-scientific methods include case method studies, traditional
historical method investigations, and normative deductions.
In the other account,
TAR citation rates are low in academic journals outside accounting
because the methods and techniques being used (like CAPM and options
pricing models) were discovered elsewhere and accounting researchers are
not sought out for discoveries of scientific methods and models. The
intersection of models and topics that do appear in TAR seemingly are
borrowed models and uninteresting topics outside the academic discipline
of accounting.
We close with a
quotation from Scott McLemee demonstrating that what happened among
accountancy academics over the past four decades is not unlike what
happened in other academic disciplines that developed “internal dynamics
of esoteric disciplines,” communicating among themselves in loops
detached from their underlying professions. McLemee’s [2006] article
stems from Bender [1993].
“Knowledge and competence
increasingly developed out of the internal dynamics of esoteric
disciplines rather than within the context of shared perceptions of
public needs,” writes Bender. “This is not to say that professionalized
disciplines or the modern service professions that imitated them became
socially irresponsible. But their contributions to society began to flow
from their own self-definitions rather than from a reciprocal engagement
with general public discourse.”
Now, there is a definite note of sadness in Bender’s narrative – as
there always tends to be in accounts
of the
shift from Gemeinschaft to
Gesellschaft. Yet it is also
clear that the transformation from civic to disciplinary professionalism
was necessary.
“The new disciplines offered relatively precise subject matter and
procedures,” Bender concedes, “at a time when both were greatly
confused. The new professionalism also promised guarantees of competence
— certification — in an era when criteria of intellectual authority were
vague and professional performance was unreliable.”
But in the epilogue to Intellect and Public Life,
Bender
suggests that the process eventually went too far.
“The risk now is precisely the opposite,” he writes. “Academe is
threatened by the twin dangers of fossilization and scholasticism (of
three types: tedium, high tech, and radical chic). The agenda for the
next decade, at least as I see it, ought to be the opening up of the
disciplines, the ventilating of professional communities that have come
to share too much and that have become too self-referential.”
For the good of the AAA membership and the profession of accountancy in
general, one hopes that the changes in publication and editorial
policies at TAR proposed by President Rayburn [2005, p. 4] will result
in the “opening up” of topics and research methods produced by “leading
scholars.”
For those remaining (old time?) historians
(like James Don Edwards, Dale Flesher, Gary Previts, Steve Zeff, and Dick
Vangermeersch) now is a great time to preserve some accounting history in the
new American Accounting Association Commons ---
https://commons.aaahq.org/signin?redirect=%2Fpages%2Fhome
I predict that the Commons will one day surpass all other resources of the
American Accounting Association. Special thanks to Gary Previts, Julie Smith
David, Tracey Sutherland, and the staff of the AAA that launched the Commons in
August 2008.
Also on the bright side, the new Editor of
TAR, Steven J. Kachelmeier, is now inviting submissions in accounting history,
field studies, and accounting information systems. Times are changing in the
academy of accounting educators and researchers. Amazingly, even our
chronic-curmudgeon Paul Williams
is impressed.
Academy of Accounting Historians ---
http://accounting.rutgers.edu/raw/aah/
Tidbits on August 14, 2008
Bob Jensen
For earlier editions of Tidbits go to
http://www.trinity.edu/rjensen/TidbitsDirectory.htm
For earlier editions of New Bookmarks go to
http://www.trinity.edu/rjensen/bookurl.htm
Click here to search Bob Jensen's web site if you have key words to enter ---
Search Site.
For example if you want to know what Jensen documents have the term "Enron"
enter the phrase Jensen AND Enron. Another search engine that covers Trinity and
other universities is at
http://www.searchedu.com/.
Bob Jensen's past presentations and lectures
---
http://www.trinity.edu/rjensen/resume.htm#Presentations
Bob Jensen's Threads ---
http://www.trinity.edu/rjensen/threads.htm
Bob Jensen's Home Page is at
http://www.trinity.edu/rjensen/
CPA
Examination ---
http://en.wikipedia.org/wiki/Cpa_examination
On May 14, 2006 I retired from Trinity University after a long
and wonderful career as an accounting professor in four universities. I was
generously granted "Emeritus" status by the Trustees of Trinity University. My
wife and I now live in a cottage in the White Mountains of New Hampshire ---
http://www.trinity.edu/rjensen/NHcottage/NHcottage.htm
Bob Jensen's blogs and various threads on many topics ---
http://www.trinity.edu/rjensen/threads.htm
(Also scroll down to the table at
http://www.trinity.edu/rjensen/ )
U.S. Social Security Retirement
Benefit Calculators ---
http://www.socialsecurity.gov/estimator/
After 2017 what we would really like is a choice between our full social
security benefits or 18 Euros each month ---
http://www.trinity.edu/rjensen/Entitlements.htm
Global Incident Map ---
http://www.globalincidentmap.com/home.php
Set up free conference calls at
http://www.freeconference.com/
Also see
http://www.yackpack.com/uc/
Free Online Tutorials in Multiple Disciplines ---
http://www.trinity.edu/rjensen/Bookbob2.htm#Tutorials
Google Maps Street View ---
http://maps.google.com/help/maps/streetview/
World Clock ---
http://www.peterussell.com/Odds/WorldClock.php
Tips on computer and networking
security ---
http://www.trinity.edu/rjensen/ecommerce/000start.htm
Many useful accounting sites (scroll down) ---
http://www.iasplus.com/links/links.htm
If you want to help our badly injured troops, please check out
Valour-IT: Voice-Activated Laptops for Our Injured Troops ---
http://www.valour-it.blogspot.com/
Online Video, Slide Shows, and Audio
In the past I've provided links to various types of music and video available
free on the Web.
I created a page that summarizes those various links ---
http://www.trinity.edu/rjensen/music.htm
Nature Online Video Streaming Archive (multimedia) ---
http://www.nature.com/nature/videoarchive/index.html
TED Video Example
Mathemajician Arthur Benjamin ---
http://static.videoegg.com/ted/flash/fullscreen.html?v=/ted/movies/ARTHURBENJAMIN-2005&cid=/ted/movies
Open Science Directory ---
http://www.opensciencedirectory.net/
Free Feature Length Documentary Films ---
http://www.snagfilms.com/
The Visual Dictionary ---
http://www.infovisual.info/
Frontline: Return of the Taliban (video) ---
http://www.pbs.org/wgbh/pages/frontline/taliban/
MAPLight.org (for a better understanding of politics and
legislation) ---
http://www.maplight.org/
Exploring Race (multimedia) ---
http://newsblogs.chicagotribune.com/race/
Multiple Choice: From Sample to Product (video) ---
http://cooperhewitt.org/EXHIBITIONS/multiple_choice/site/?r=4-14-2008
Free music downloads ---
http://www.trinity.edu/rjensen/music.htm
While working on the computer, Bob Jensen often
listens to (free and without commercials) ---
http://www.slacker.com/
Even better for this old guy from the jukebox era (just let it play through) ---
http://www.tropicalglen.com/
But I listen most to Soldiers Radio Live ---
http://www.army.mil/fieldband/pages/listening/bandstand.html
Stravinsky Gets His 'Rite: Remixed' ---
http://www.npr.org/templates/story/story.php?storyId=92751852
This is outstanding!
Take Me Back to the 1950s ---
http://oldfortyfives.com/TakeMeBackToTheFifties
Sarah Vaughan: The Divine One ---
http://www.npr.org/templates/story/story.php?storyId=92646654
Sarah Vaughan's Unlikeliest Jazz Classic ---
http://www.npr.org/templates/story/story.php?storyId=5732357
Conan O'Brien - ''Pilobolus'' ---
http://youtube.com/watch?v=3n8gxEwLx0w
Tribute to the Flag (Elvis) ---
http://home.comcast.net/~nw-fla/tribute_flag_B_thompson.htm
The Carr Center for Human Rights Policy
(multimedia) ---
http://www.hks.harvard.edu/cchrp/
Against the Odds: Making a Difference in Global
Health (multimedia) ---
http://apps.nlm.nih.gov/againsttheodds/index.cfm
Exploring Race (multimedia) ---
http://newsblogs.chicagotribune.com/race/
While working on the computer, Bob Jensen often
listens to (free and without commercials) ---
http://www.slacker.com/
Even better for this old guy from the jukebox era (just let it play through) ---
http://www.tropicalglen.com/
But I listen most to Soldiers Radio Live ---
http://www.army.mil/fieldband/pages/listening/bandstand.html
Also note U.S. Army Band recordings
---
http://bands.army.mil/music/default.asp
Photographs and Art
Online Books, Poems, References, and Other Literature
In the past I've provided links to various
types electronic literature available free on the Web.
I created a page that summarizes those various links ---
http://www.trinity.edu/rjensen/ElectronicLiterature.htm
Free Online Textbooks, Videos, and Tutorials ---
http://www.trinity.edu/rjensen/ElectronicLiterature.htm#Textbooks
Free Tutorials in Various Disciplines ---
http://www.trinity.edu/rjensen/Bookbob2.htm#Tutorials
Edutainment and Learning Games ---
http://www.trinity.edu/rjensen/000aaa/thetools.htm#Edutainment
Open Sharing Courses ---
http://www.trinity.edu/rjensen/000aaa/updateee.htm#OKI
Learning Resources
Wisc-Online: Online Learning Object Repository (multimedia) ---
http://www.wisc-online.com/
Sir Arthur Conan Doyle: His Life, All His Works and More ---
http://sirconandoyle.com/index.php
THE COMPLETE SHERLOCK HOLMES (includes drawings) ---
http://www.bakerstreet221b.de/canon/
The Chronicles of Sir Arthur Conan Doyle ---
http://www.siracd.com/work_bell.shtml
Mystery Net ---
http://www.mysterynet.com/
Taps (Played over dead soldiers)
The words are:
Day is done ... Gone the sun
From the lakes ... From the hills ...
From the sky . All is well.
Safely rest .. God is nigh.
Fading light .. Dims the sight ..
And a star ... Gems the sky
Gleaming bright From afar ..
Drawing nigh . Falls the night.
Thanks and praise .... For our days
Neath the sun ... Neath the stars....
Neath the sky . As we go
This we know .. God is nigh
The Atheist Version:
Day is done ... Gone the sun
From the lakes ... From the hills ...
From the sky . All is well.
Because ... There is no hell
Fading light .. Dims the sight ..
And a star ... Gems the sky
Gleaming bright From afar ..
Drawing nigh . Falls the night.
Thanks and praise .... For our days
Neath the sun ... Neath the stars....
Neath the sky . As we go
Leaving you to rot ...You're nevermore.
Save Our Trees,
Recycle Homework
Printed on a young boy's T-shirt (as seen in the
Manchester, NH Airport)
The roots of education are bitter, but the fruit is
sweet.
Aristotle as quoted by Mark Shapiro
at ---
http://irascibleprofessor.com/comments-07-14-08.htm
I wonder whether in the rush to celebrate the
virtues of openness and the fun of group learning, we’re forgetting the virtues
inherent in learning in private, in reclusive Walden-like settings.
Luke Fernandez, Weber State
University as quoted by Josh Fischman, Chronicle of Higher Education July
29, 2008 ---
http://chronicle.com/wiredcampus/index.php?id=3202&utm_source=wc&utm_medium=en
Therein lies the real trouble. Learning is labor.
We're selling the fantasy that technology can change that. It can’t. No
technology ever has. Gutenberg’s press only made it easier to print books, not
easier to read and understand them.
Peter Berger, "The Land of iPods and
Honey," The Irascible Professor, February 26, 2007 --- at
http://irascibleprofessor.com/comments-02-26-07.htm
My favourite French philosopher, Jean Jacques
Rousseau, once in exasperation asked:
now that the learned men have arrived, where are all the honest men gone?
Jagdish Gangolly
The big powers are going down," Ahmadinejad told
foreign ministers of the Nonaligned Movement meeting in Tehran. "They have come
to the end of their power, and the world is on the verge of entering a new,
promising era.
Mahmoud Ahmadinejad, CNN, July 29,
2008 ---
http://www.cnn.com/2008/WORLD/meast/07/29/iran.aids.ap/index.html?eref=rss_world
Russia Lost the Georgian War
Andrei Illarionov , a liberal economist and former
policy advisor to the Russian president, has released his conclusions on the war
in Georgia. The conflict, he argues, was a “brilliant provocation carefully
planned and successfully carried out by the Russian leadership.” However, the
Russian leadership did not achieve its main goals– removing Georgian President
Mikhail Saakashvili from power and changing Georgia’s political regime. In
Illarionov’s opinion, Georgia’s NATO aspirations have only been heightened. By
leading forces into the territory of a foreign government, Russia has been
internationally recognized as an aggressor, according to the economist. Georgia,
on the other hand, became an internationally recognized victim. Illarionov
believes that Russia has become completely isolated in its foreign policy, as
only Cuba supported Russia’s Georgian campaign.
The Other Russia, August 13, 2008
---
http://www.theotherrussia.org/2008/08/13/illarionov-russia-lost-the-georgian-war/
Historically, the evangelical colleges that comprise
the Council for
Christian Colleges and Universities have not been
magnets for many black students.
A new
analysis from The Journal of Blacks in Higher
Education suggests that’s changing, with some Protestant colleges recording
staggering increases in black student enrollments over the last decade. At Montreat College, in North Carolina, undergraduate black student enrollment
increased from 3.7 percent in 1997 to 23 percent in 2007, according to the
analysis. At Belhaven College, in Mississippi, black student enrollment climbed
from 16.9 to 41 percent. At LeTourneau University, in Texas, the figure grew
from 5.7 to 22 percent. Overall, the analysis finds that the number of CCCU
colleges where black enrollments are at 10 percent or higher has more than
tripled to 29 over the last 10 years — even as a core group of 22 Christian
colleges maintain black enrollments of 2 percent or less (a decrease, however,
from 33 such colleges in 1997).
Elizabeth Redden, "Christian
Colleges Grow More Diverse," Inside Higher Ed, August 14, 2008 ---
http://www.insidehighered.com/news/2008/08/15/christian
Exactly what Obama is advocating here cannot be determined, but it seems to be
something of an endorsement of the idea of "reparations for slavery," which is
usually taken to mean cash payments. In this view, the following deeds are
insufficient to balance the ledger between America and the descendants of
slaves: the Civil War, the ratification of the 13th, 14th and 15th amendments,
Brown v. Board of Education, the Civil Rights Act of 1964, the Voting Rights Act
of 1965 and the continuing practice of racial preferences.
James Taranto, "Check Please." The Wall Street Journal, July 30, 2008 ---
http://online.wsj.com/article/SB121743626734197371.html?mod=Best+of+the+Web+Today
Jensen Comment
Upon recognizing that such reparations are unpopular with a majority of voters,
Senator Obama clarified (flip flopped on?) this endorsement of reparations as
cash handouts. He prefers monumental affirmative action funding for education,
housing, and employment ---
http://news.yahoo.com/story//ap/20080802/ap_on_el_pr/obama_slavery_reparations
Forget the glitzy restaurants of New York and
London: only in Zimbabwe would a hamburger actually cost millions of dollars.
The central bank of the southern African country has a issued a 10 million
Zimbabwe dollar note. The move increases the denomination of the nation's
highest bank note more than tenfold. Even so, a hamburger in an ordinary cafe in
Zimbabwe costs 15 million Zimbabwe dollars.
"Zimbabwe bank issues $10million bill - but it won't even buy you a hamburger in
Harare," London Daily Mail, January 19, 2008 ---
http://www.dailymail.co.uk/pages/live/articles/news/worldnews.html?in_article_id=508840
Jensen Comment
You chuckle but the day is coming when the U.S. will print a $10 million U.S.
dollar bill that won't buy a hamburger, because U.S. politicians from both
parties no longer can say no to doomsday entitlements.
See
http://www.trinity.edu/rjensen/Entitlements.htm
The Global Poverty Act (S.2433) is expected to come
up for a vote in the US Senate any time before the November presidential
elections, according to conservatives who fear it is a giant step towards
handing over US sovereignty to the United Nations and foreign governments. This
is the newest liberal-inspired plan to allow a United Nations style tax on
American citizens, according to officials at the American Conservative Union.
ACU officials say that this "sickening bill could potentially force the United
States to spend as much as
$845,000,000,000 on welfare to
third-world countries." The American people will be watching and will not
tolerate massive United Nations-style giveaways that are passed in the dark of
night -- or in broad daylight for that matter. (Obama's) 2433 is a stealth bill
and a dagger aimed at the heart of America's sovereignty.
Jim Couri, "OBAMA'S UNITED NATIONS SANCTIONED GLOBAL TAX
PLAN," NWV News, April 1, 2008 ---
http://www.newswithviews.com/NWV-News/news40.htm
Jensen Comment
This bill gets even worse. It's an annual entitlement to help fight poverty
around the world. This money will not go to directly to those who need it, but
rather to the UN for distribution. It's a big plum and cherry ripe for fraud
just like the U.N.'s disastrous
Oil for Food fiasco that
diverted the funds to Saddam.
Just Pull the Trigger--Aiming Is Overrated
Chicago Sun-Times, July 26
Just Give the Farm to the U.N., Aiming Directly at the Poor is Overrated
Why More Entitlements Will Destroy the U.S. Economy ---
http://www.trinity.edu/rjensen/Entitlements.htm
But rather than encouraging a return of America’s
productive energy, our government is responding to the growing economic crisis
by simply trying to boost consumerism at all costs. Their strategy involves
socializing losses among all citizens so that the depletion can’t be easily
discerned. Now that the nation has chosen socialism as its economic salvation,
it is worthwhile to examine some historic precedents. They are not encouraging.
Europe, the former Soviet block and much of Africa and Asia, show vividly that
socialism curbs individual freedom and enterprise, and leads inevitably toward
economic decline.
John Browne, "The Cost of Socialism,"
Gold Seek, July 31, 2008 ---
http://news.goldseek.com/GoldSeek/1217484240.php
On Sunday, he said on national television that to
solve Social Security "everything's on the table," which of course means raising
payroll taxes. On July 7 in Denver he said: "Senator Obama will raise your
taxes. I won't." This isn't a flip-flop. It's a sex-change operation . . . What
I'm asking is, does John McCain have the mental focus, the intellectual
discipline, to avoid being out-slicked by Barack Obama, if he isn't abandoned by
his own voters? It's not just taxes. Recently the subject came up of Al Gore's
assertion that the U.S. could get its energy solely from renewables in 10 years.
Sen. McCain said: "If the vice president says it's doable, I believe it's
doable." What!!?? In a later interview, Mr. McCain said he hadn't read "all the
specifics" of the Gore plan and now, "I don't think it's doable without nuclear
power." It just sounds loopy. Then this week in San Francisco, in an interview
with the Chronicle, Sen. McCain called Nancy Pelosi an "inspiration to millions
of Americans." Notwithstanding his promises to "work with the other side," this
is a politically obtuse thing to say in the middle of a campaign. Would Bill
Clinton, running for president in 1996 after losing control of the House, have
called Newt Gingrich an "inspiration"? House Minority Leader John Boehner,
facing a 10-to-20 seat loss in November, must be gagging.
Daniel Henninger, "Is John McCain Stupid?" The Wall Street Journal,
July 31, 2008; Page A13 ---
http://online.wsj.com/article/SB121745962594698731.html?mod=djemEditorialPage
It is a salutary discipline to consider the vast
number of books that are written, the fair hopes with which their authors see
them published, and the fate which awaits them. What chance is there that any
book will make its way among the multitude? And the successful books are but the
successes of a season. Heaven knows what pains the author has been at, what
bitter experiences he has endured and what heartache suffered, to give some
chance reader a few hours' relaxation or to while away the tedium of a journey.
And if I may judge from the reviews, many of these books are well and carefully
written; much thought has gone to their composition; to some even has been given
the anxious labor of a lifetime. The moral I draw is that the writer should seek
his reward in the pleasure of his work and in release from the burden of his
thought; and, indifferent to aught else, care nothing for praise or censure,
failure or success.
W. Somerset Maugham,
The Moon and Sixpence, 1919 ---
http://en.wikipedia.org/wiki/The_Moon_and_Sixpence
Despite a less-than-robust economy, the overall
average starting salary offer to new college graduates, regardless of major,
increased by 7.1 percent over last year, according to a new report from the
National Association of Colleges and Employers (NACE) . . . Liberal arts
graduates also saw rising salaries. As a group, their average offer rose from
$32,348 to $36,419 — a 12.6 percent increase.
NACE ---
http://www.naceweb.org/
When trade flares up as a political issue -- as it
is likely to do in the presidential campaign this year -- one aspect of the
debate is almost always neglected. There is a fierce competition among foreign
countries to sell their products here, in the United States, the largest
commercial market in the world. Moreover, by opening up our market to Muslim
countries, we could not only help American consumers, but also serve a larger
strategic goal: that of boosting the economies which now produce large pools of
unemployed, embittered youth. We can make trade an effective weapon against
terrorism. Our tariff regime puts many nations in the Middle East, whose young
people are susceptible to the sirens of Islamic fundamentalism, at an unintended
disadvantage. This works against our efforts to stamp out jihadism. Fortunately,
the problem is easy to fix. The U.S. buys about a fifth of all the goods and
services traded world-wide -- importing $2.63 trillion worth of the world's
products last year alone. Socks come in from the Caribbean, towels from
Pakistan.
Edward Gresser and Marc Dunkelman,
"Free Trade Can Fight Terror," The Wall Street Journal, August 15, 2008;
Page A15 ---
http://online.wsj.com/article/SB121876030173742757.html?mod=djemEditorialPage
Is this a dagger we see before us, hanging over the
global financial system, or a dagger of the mind, a false creation proceeding
from the heat-oppressed brains of frightened investors and depositors, greedy
short-sellers, short-sighted auditors, and attention-seeking analysts and
journalists?
Steven Pearlstein, "Macbeth and the
Market," The Washington Post, July 18, 2008 ---
http://www.washingtonpost.com/wp-dyn/content/article/2008/07/17/AR2008071702608.html?referrer=emailarticle
Jensen Comment
This is a neat way to combine English literature with accounting and finance
courses.
In any other business, Senator Dodd would be begging
forgiveness. But in Washington he now wants the Bush Administration to bow to
his political wishes in return for protecting the financial system from the
risks that Mr. Dodd long claimed Fan and Fred didn't pose. His demands include
nearly $4 billion in Community Development Block Grants that are a payoff to
liberal interest groups. He also wants an "affordable housing trust fund" for
more such largesse that could take as much as a $1 billion a year out of Fan and
Fred even as they struggle to stay solvent.
"Fannie and Freddie's Enablers," The Wall Street Journal,
July 21, 2008; Page A12 ---
http://online.wsj.com/article/SB121659681885068955.html?mod=djemEditorialPage
From Stansberry & Associates Newsletter, July 18, 2008 ---
http://www.stansberryresearch.com/
A truly colossal screw-up... Freddie to
raise $10 billion, don't laugh... Muslim allies... Barney Frank cashes in...
Pelosi's ethics... The Vegas gambit... Fannon calls it... The twin titan of
corporate infidelity... A great mailbag and my ego...
My best estimate of Fannie and Freddie's
book is that around 20% of their loans and their guaranteed loans are in
some stage of default or foreclosure. It's a rough guess, admittedly. But it
must be closer to the real number than the number Fannie and Freddie have
admitted so far, which is less than 1%. That's laughable. More than half of
their book was originated later than 2005. Fannie and Freddie expect you to
believe their loans are like the kids at Lake Wobegon, all above average.
But they own half the market – their loans can't all be above average. If
you assume a 75% recovery on these defaults (which is incredibly optimistic
given most real estate-related distressed sales are going off at 40% of peak
value), then Fannie and Freddie ought to lose something around $250 billion.
It's certainly possible they could lose twice as much. Easy.
All of which makes Freddie's plan to raise
$10 billion in preferred stock an exercise in bad humor. A $10 billion
preferred stock offering would require an additional $1.3 billion per year
dividend payout, assuming the interest on the new shares is equal to the
interest on the existing preferred, which has been wiped out by the crisis.
With losses of $11 billion so far, how would Freddie pay anything, much less
more than a billion? It can't. The common stock is already worthless. Folks
just haven't accepted it yet.
And by the way, foreigners are finally
waking up to the risks of buying U.S. assets – even those backed by the
federal government. Kuwait – that wonderful little . . . dictatorship we
saved from Iraq – is selling its dollars and will no longer buy any U.S.
agency debt (i.e., Fannie and Freddie's bonds)...
Noted statesmen and former owner of a gay
bordello, Barney Frank (who happens to chair the House banking committee) is
using this crisis to push through his $3 billion gravy train. The bill would
create "block grants" – essentially a slush fund for politicians – that
would be funded "off balance sheet" by taxing Fannie and Freddie's mortgage
holdings.
Bush had threatened to veto the bill
because of this rider, but the crisis at Freddie and Fannie now make that
impossible. Also, under cover of the crisis, our dear friend
Nancy Pelosi repealed most of the new ethics
rules passed to great fanfare on the Democrats' first day in power.
Of course, the rollback of lobbyist disclosure rules happened late last
night, when hopefully no one would notice. These are your elected officials,
dear subscribers. Aren't they noble?
Jensen Comment
In fairness, the destruction of ethics rules votes for "block grant"
earmarks in Congress was a bipartisan effort in the dead of night. But it was Pelosi
who badly punished and demoted Rep. Jeff Flake off the Judicial Committee
because of his efforts to put an end to earmark spending corruption ---
http://www.freedomworks.org/informed/issues_template.php?issue_id=2496
Also see
http://en.wikipedia.org/wiki/Jeff_Flake
The corporate largesse is on tap despite new ethics
laws and rules that both chambers of Congress adopted in 2007, aimed at
weakening the links between lawmakers and lobbyists. Spearheaded by the
Democratic Party, the ethics effort included an attempt to ban corporations and
lobbyists from throwing lavish parties for members at the national political
conventions. But in the months since the new rules took effect, lawmakers have
watered down the guidelines, and Capitol Hill and K Street have teamed up to
find ways around the guidelines as written. Politicians and lobbyists are now
preparing about 400 of the biggest parties -- both at the Democratic gathering
in Colorado and when Republicans convene the following week in St. Paul -- that
conventioneers have ever seen.
Brody Mullins and Elizabeth Williamson,
"Parties Skirt Rules on Gifts, Plan Lavish Conventions," The Wall Street
Journal, August 16, 2008; Page A1 ---
http://online.wsj.com/article/SB121884539418446077.html?mod=todays_us_page_one
An albatross Republicans must haul around this year
is that voters no longer clearly see them as the party best able to control
government spending and taxes. GOP pork-barrel kings such as Sen. Ted Stevens
and Rep. Don Young are a big reason. Now allegations of corruption are swirling
around both men as they face stiff challenges in Alaska's Aug. 26 Republican
primary. Messrs. Stevens and Young have done enormous damage nationally to the
Republican brand. They were champions of the infamous "Bridge to Nowhere," a
$223 million span to Gravina Island with 50 people on it, that became the butt
of late-night comedians. But the jokes have been replaced with anger: Mr.
Stevens was indicted last month on seven felony counts of lying about $250,000
in gifts he received from the head of the oil services company VECO, Bill Allen,
who was seeking earmarks from the senator. Mr. Young has spent over $1 million
in legal fees fighting a federal investigation of his ties to VECO.
John Fund, "Alaska's Congressmen Are
a Bridge to Nowhere," The Wall Street Journal, August 16, 2008; Page A9
---
http://online.wsj.com/article/SB121884450278545995.html?mod=todays_us_opinion
Mutual fund managers had significantly better
returns on investments made in companies led by their former classmates than
they did in companies where no such connections existed, according to a recent
study. Indeed, investments in so-called “connected” stocks outperformed
non-connected stocks by more than 8 percent, the study found.The findings are
published in the bureau’s working paper, entitled
“The
Small World of Investing: Board Communications and Mutual Fund Returns.”
Jack Stripling, "Another Way
Education Pays," Inside Higher Ed, July 29, 2008 ---
http://www.insidehighered.com/news/2008/07/31/nber
Democrats in Congress have also spooked the world
with their blatant protectionism -- from their recent veto override of a farm
bill jammed with trade-distorting subsidies, to their refusal to ratify
bilateral trade deals even with such vital U.S. allies as Colombia and South
Korea. Barack Obama's promise to repudiate Nafta if Mexico and Canada won't go
along with his ideas was also a trade shock heard 'round the world. For all
their talk about listening to America's partners, Democrats are the world's
biggest trade bullies. Having defeated Doha, the world's protectionists will now
press forward with their special-interest agendas, hoping to build a
lattice-work of cartels and managed trade. One way to push back is with
bilateral or regional trade pacts, but these also risk establishing regional
cartels and a web of conflicting trade rules that raise business costs.
"The End of Free Trade?" The Wall Street Journal, July 31, 2008;
Page A14 ---
http://online.wsj.com/article/SB121746091638498831.html?mod=djemEditorialPage
More than a million illegal immigrants have fled the
country, mostly because increased immigration enforcement has discouraged them
from trying to put down roots in the U.S., according to a study released
Wednesday by the Center for Immigration Studies. The Washington, D.C.-based
group that has been pushing for stronger immigration law enforcement for years.
Patrick McGee, Quad-Cities Online,
July 30, 2008 ---
http://qconline.com/archives/qco/display.php?id=397771
Jensen Comment
But the Federal immigration authorities are still hampered by U.S. cities like
San Francisco that officially refuse to cooperate with discovering and
processing illegal immigrants. This even applies to foreign drug dealers in San
Francisco jails who, when released, often commit violent crimes ---
http://qconline.com/archives/qco/display.php?id=397771
Is it possible to get San Francisco to secede from the Union?
Surrendering to Drug Cartel Anarchy
Mexican law enforcement officials are walking into U.S.
ports of entry in increasing numbers to seek political asylum, and the flow may
soon become a flood as Mexico's battle with the drug cartels intensifies. Our
first instinct is to welcome them, but there is more at stake than humanitarian
sentiments. The problem is that if our immigration laws are stretched to grant
asylum to law enforcement personnel on the grounds that their own government
cannot protect them, any Mexican threatened by these violent criminal gangs can
claim the same right of asylum.
Tom Tancredo, FrontPage Magazine,
July 16, 2008---
http://www.frontpagemag.com/Articles/Read.aspx?GUID=6C81C5BD-3051-4D82-92B2-277849D1C247
"Violence hitting Mexico's civilians," by Dudley Al Thaus, chron.com, July
14, 2008 ---
http://www.chron.com/disp/story.mpl/world/5888173.html
Many Mexicans have long shrugged off the violence
shaking their country by telling themselves it only affects those involved
in the narcotics trade and corrupt law enforcement officers.
But innocent civilians, once considered largely
off-limits, now find themselves increasingly targeted.
In the past five days, two attacks in the Pacific
Coast state of Sinaloa claimed the lives of perhaps more than a dozen people
with no apparent connection to the drug trade — including at least four
teens, a 12-year-old girl and a father-and-son team of university accounting
professors.
In a separate incident, dozens of people were taken
hostage Saturday at a restaurant in Mazatlan, Sinaloa's premiere beach
resort and seaport. The assassins killed an officer and fled the mall in a
van with 10 of the hostages, later freeing them unharmed and making their
escape.
"That they are killing civilians speaks to the
monster that has been created," said Yudit del Rincon Castro, an outspoken
Sinaloa state legislator from Guamuchil. "They used to respect women,
children, innocents. Now when they go after someone they don't care who they
hit along with them."
Continued in article
Before 2005, taxpayers who donated a vehicle were
allowed to deduct its fair market value. Tax legislation enacted in 2004 changed
the rules to generally limit vehicle donation deductions of over $500 to either
the actual proceeds from a vehicle's sale or the vehicle's fair market value --
whichever is less. Recently released IRS statistics reveal the 2004 law had an
immediate and drastic affect on car donations. An analysis of the new numbers by
Grant Thornton's National Tax Office shows that between tax year 2004 and 2005,
car donations of over $500 dropped by two-thirds. Over 900,000 tax returns
claimed deductions for donated automobiles in 2004. In 2005, the last year for
which the IRS has detailed data, less than 300,000 tax returns included such
claims.. The total amount deducted for all car donations declined from $2.4
billion in 2004 to just a half a billion dollars the following year, a decrease
of over 80 percent.
SmartPros, July 15, 2008 ---
http://accounting.smartpros.com/x62523.xml
The Show's Over and So are His Scholarship Promises
Former North Carolina Sen. John Edwards is pulling the
plug on a scholarship program he started at an Eastern North Carolina high
school -- a program he once promised would be a model for the nation under an
Edwards presidency. Edwards' presidential hopes have evaporated. And he recently
informed Greene County officials that he would end the pilot program at Greene
Central High School. "We sent a communication out to upcoming seniors and their
parents," said Randy Bledsoe, principal of Greene Central High. "Some are
saddened that the opportunity is not going to be there for their children.
Rob Christensen, The News &
Observer, July 31, 2008 ---
http://www.newsobserver.com/news/higher_education/story/1160097.html
Earlier this week, the California State Automobile
Association, an affiliate of the national AAA, announced it is closing all three
of its call centers in the state at a loss of 900 jobs. Spokeswoman Cynthia
Harris was quite blunt about the reason: "It costs
more to do business in California than other states."
Her group will now will be answering calls from California motorists from new
centers in lower-cost Arizona and Oklahoma. . . . The state's Democrats not only
insist on higher taxes, but are blocking a proposal from Gov. Schwarzenegger to
limit future spending increases to the growth of the state's population and
inflation in an attempt to cushion the impact of future economic downturns. "I
think that we have to be very, very careful about tying the hands of future
governors and future legislatures," says Democratic Assemblyman Dave Jones.
Apparently, he and his colleagues prefer tying the hands of California
businesses so they feel compelled to flee the state.
John Fund, The Wall Street
Journal, July 20, 2008 ---
http://online.wsj.com/article/SB121647516449767887.html?mod=djemEditorialPage
Bush's Laffer Matter: Tax Cuts Increase Tax Revenues
Washington is teeing up "the rich" for a big tax hike
next year, as a way to make them "pay their fair share." Well, the latest IRS
data have arrived on who paid what share of income taxes in 2006, and it's going
to be hard for the rich to pay any more than they already do. The data show that
the 2003 Bush tax cuts caused what may be the biggest increase in tax payments
by the rich in American history. The nearby chart shows that the top 1% of
taxpayers, those who earn above $388,806, paid 40% of all income taxes in 2006,
the highest share in at least 40 years. The top 10% in income, those earning
more than $108,904, paid 71%. Barack Obama says he's going to cut taxes for
those at the bottom, but that's also going to be a challenge because Americans
with an income below the median paid a record low 2.9% of all income taxes,
while the top 50% paid 97.1%. Perhaps he thinks half the country should pay all
the taxes to support the other half. Aha, we are told: The rich paid more taxes
because they made a greater share of the money. That is true. The top 1% earned
22% of all reported income. But they also paid a share of taxes not far from
double their share of income. In other words, the tax code is already steeply
progressive. We also know from income mobility data that a very large percentage
in the top 1% are "new rich," not inheritors of fortunes. There is rapid
turnover in the ranks of the highest income earners, so much so that people who
started in the top 1% of income in the 1980s and 1990s suffered the largest
declines in earnings of any income group over the subsequent decade, according
to Treasury Department studies of actual tax returns. It's hard to stay king of
the hill in America for long.
"Their Fair Share," The Wall Street Journal, July 21,
2008; Page A12 ---
http://online.wsj.com/article/SB121659695380368965.html?mod=opinion_main_review_and_outlooks
According to the Treasury Department, the number of
millionaires in the U.S. nearly doubled between 2003 and 2006, from 181,000 to
354,000. Part of the reason for that increase is that favorable capital gains
rates encouraged Americans to invest more, and corporations that pay lower tax
rates are more able to pay dividends. But also, history shows that when
taxpayers feel tax rates are fair, they are less likely to invest in tax
shelters or to simply hide income, and more likely to report what they actually
earned. John Kennedy and Ronald Reagan both knew and proved that theory.
President Kennedy said, "It is a paradoxical truth that tax rates are too high
today and tax revenues are too low and the soundest way to raise revenues in the
long run is to cut rates now." Under his administration, the top tax rate was
cut from a high of over 90 percent to 70 percent causing many naysayers to
swoon. The result? Tax revenues climbed from $94 billion in 1961 to $153 billion
in 1968, an increase of 62 percent. During this time, the rich saw their share
of taxes increase from 11.6 percent to 15.1 percent. Under Ronald Reagan, tax
revenues in the 80s climbed 99.4 percent. For the top 1 percent of taxpayers,
their share of total tax rose from 17.6 percent in 1981 to 27.5 percent in 1988.
"Who bears the tax burden in the U.S.?" AccountingWeb,
July 31, 2008 ---
http://www.accountingweb.com/cgi-bin/item.cgi?id=105639
If you've been paying attention to California's
chronic budget problems, you know that they fundamentally stem from a disastrous
decision in 2000 by then-Gov. Gray Davis and legislators of both parties to
squander a one-time windfall of revenue on permanent spending increases and tax
cuts that could not be sustained over the long haul. It was, however, just one
of three similarly irresponsible decisions during Davis' governorship, which was
cut short by his recall in 2003. A second was to sharply increase state worker
pensions on the assurances of the union-dominated California Public Employees'
Retirement System that they could be financed from investment earnings without
additional burden on taxpayers. That wrongheaded move now costs state taxpayers
about $2 billion a year, adding to the budget woes. The third, which garnered
very little attention when it was made in 2001, was to nearly double
unemployment insurance benefits, from a $230-per-week maximum to $450, because
the Unemployment Insurance Fund was running a $6 billion surplus. This has
turned out to be a fiscal disaster as well.
Dan Walters, "California has more
than one financial mess," Sacramento Bee, August 15, 2008 ---
http://www.sacbee.com/111/story/1158729.html
No Laffer Matter: Leftists to Test Obama's Tax Plan in California
Will raising taxes to new highs bring in more or less revenue? I hope Nancy
Pelosi is closely watching her "Number One" taxing home state!
"California as No. 1," The Wall Street Journal, July 17, 2008; Page A14
---
http://online.wsj.com/article/SB121625150189660215.html?mod=todays_us_opinion
New York City has long been the highest
tax jurisdiction in the United States, but California politicians are
proposing to steal that brass tiara. California faces a $15 billion budget
deficit and Democrats who rule the state Legislature have proposed closing
the gap with a $9.7 billion tax hike on business and "the rich." There's a
movie that describes this idea: Clueless.
The plan would raise the top marginal
income tax rate to 12% from 10.3%; that would be the highest in the nation
and twice the national average. This plan would also repeal indexing for
inflation, which is a sneaky way for politicians to push middle-income
Californians into higher tax brackets every year, especially when prices are
rising as they are now. The corporate income tax rate would also rise to
9.3% from 8.4%. So in the face of one of the worst real-estate recessions in
the state's history, the politicians want to raise taxes on businesses that
are still making money.
This latest tax gambit was unveiled,
ironically enough, within days of two very large California employers
announcing they are saying, in the famous words of Governor Arnold
Schwarzenegger, "hasta la vista, baby" to the state. First, the AAA auto
club declared it will close its call centers in California, meaning that 900
jobs will move to other states. "It costs more to do business in
California," said a AAA press release, in the understatement of the year.
Then last week Toyota announced it is
canceling plans to build its new Prius hybrid at its plant in the San
Francisco Bay area because of the high tax and regulatory costs. Adding to
the humiliation is that Toyota will now take this investment and about 1,000
jobs to a more progressive and pro-business state: Mississippi.
There is already a reverse gold rush going
on in California and the evidence points powerfully toward high tax rates as
a culprit. Census Bureau data show that, from 1996-2005, 1.3 million more
Americans left than came to California. And the people who are leaving are
disproportionately those with higher incomes: the very targets the Democrats
want to tax more.
The liberal fairy tale is that the rich
"don't pay their fair share." The reality is that there's no state in the
country more dependent on six- and seven-figure earners to pay its bills.
Those with incomes of more than $100,000 pay 83% of the state's income
taxes, and the richest 6,000 of the 38 million Californians pay $9 billion
in taxes. Every time a rich person like Tiger Woods departs, the state
fiscal problem deepens.
The Democratic tax plan will give rich
people a further incentive to flee at the very time the real-estate market
is in collapse. New housing data reveals that the average California home
price fell by 28% from June 2007 to June 2008, almost double the decline of
any other state. The politicians in Nevada, the state with the third worst
real-estate market, are hoping California raises taxes, because this could
be a fast way to revive the Reno and Las Vegas housing markets.
What the politicians in California refuse
to address is their own overspending. State outlays were up 44% over the
past five years, meaning that California is spending at a faster pace than
even Congress. Minority Republicans in the Legislature say the solution is a
hard expenditure cap – like 46 other states have. Yet even in the face of
the giant deficit, Mr. Schwarzenegger and the Democrats want to pass a new
$9 billion water bond, a $14 billion state-run health insurance program, and
the most expensive climate-change program in the country.
It may be that California Democrats are
trying this now as a kind of trial run for Barack Obama next year. The
Illinois Senator also believes he can solve the federal government's fiscal
imbalance by imposing higher tax rates on small business employers and the
wealthiest Americans. If they can get away with it in Sacramento, look for a
national reprise next year.
Jensen Comment
California will soon the highest per capita state income taxes. Before these new
increases in the California income tax go into effect, there are presently three "states" with
higher per capita total taxes --- Minnesota, New Jersey, and Washington DC.
See the tax scores state-by-state at
http://www.trinity.edu/rjensen/Bookbob1.htm#010304Taxation
(Scroll down to find the tables)
Having said this, California is the state having the lowest unemployment
compensation tax, and this appeals to business firms that are labor
intensive. States to avoid in this regard are Utah, Minnesota, North Dakota
(believe it or not), and Iowa.
Sadly with the proposed rise in income tax rates California will now have the highest
overall taxes among our 50 states plus Washington DC.
Isn't it fun to be NUMBER ONE?
Here's a bit of what it's like to be the most taxing state in the United
States.
Toyota Shifts Gears To Build Prius in U.S.
The
Wall Street Journal
by Norihiko Shirouzu and Kate Linebaugh
Jul 11, 2008
Page: B1
Click here to view the full article on WSJ.com
TOPICS: Cost
Accounting, Cost Management, Managerial Accounting
SUMMARY: "Toyota
Motor Corp. is starting to show a milder form of the
symptoms plaguing Detroit's Big three: excess manufacturing
capacity, fleets of unsold trucks and a surplus of American
workers. However, Toyota's woes are modest in comparison. It
is still making money in North America, gaining market share
in the U.S., has an array of popular small cars to offset
lower truck sales and is the leader in hybrids." Toyota
announced that it will close two U.S. truck plants
temporarily and start assembling its Prius hybrid in
Mississippi. The 4,400 workers affected by the plan won't be
laid off. Instead, they will continue to report to work for
training in quality, safety, and productivity.
CLASSROOM
APPLICATION: Management accounting issues related to
capital investment and relevant costs for decision-making
are discussed in this article. Once financial reporting
question on the impact of unanticipated plant closings on
quarterly reporting also is included.
QUESTIONS:
1. (Introductory) In the article, the author notes
that "earlier this decade, in a bid to boost its U.S.
profits and market share, Toyota launched a big push into
full-size pickup trucks and sports-utility vehicles. Now,
with soaring gasoline prices hurting sales of those
vehicles, Toyota is stuck with more production capacity in
the U.S. than it needs." Describe how the capital budgeting
decisions that lead to this production capacity problem were
made. What factors went into the decision? What analytical
tools were used?
2. (Advanced) How is a required rate of return used
in the decision-making process described above? Is it
possible that Toyota met that required rate of return but
still faces the issues now described in the article? How do
income taxes influence these capital budgeting decisions and
techniques?
3. (Advanced) What are the relevant costs for
Toyota's decision-making to close certain plants and shift
production processes to different locations? List all that
you can think of and state your reasoning from information
given in the article.
4. (Advanced) What costs that are described in the
article are irrelevant to Toyota's decision-making regarding
future production strategies in U.S. plants?
5. (Advanced) Consider the impact of Toyota's
temporarily idle production facilities on quarterly
reporting, under U.S. or international financial reporting
standards, or semi-annual reporting for the second-half of
the year ended March 31, 2009, under Japanese reporting.
What will be the impact on these interim reports? Do you
think that disclosures of the impact of these production
decisions will be required? Support your answer.
Reviewed By: Judy Beckman, University of Rhode Island
|
Europe Has an Economics Lesson for Obama (apparently nobody is
listening in California)
But the Europe Mr. Obama will visit is quite
different from the one Americans often hear about. Over the last decade,
much of Europe has very quietly embraced market-based reforms that either
draw inspiration from American successes or -- on issues like retirement
security -- are even more market-oriented than many U.S. Republicans
support. What's more, these changes have been adopted and implemented by
parties left and right. This Europe is a shining example of exactly the sort
of postpartisan government action that the Obama campaign says it is about.
The cutting of corporate income- tax rates is an excellent example of
European market-friendly bipartisanship. Germany's right-left coalition of
Christian and Social Democrats implemented a large rate cut earlier this
year, reducing the top marginal corporate rate to about 30% from 39%.
Spain's Socialist and Britain's Labor governments have followed suit,
reducing their countries' top corporate rates. These traditionally left-of-center parties understand that in a globalized
economy, wealth and investment are mobile, flowing to those countries that
provide hospitable investment climates. As part of a European Union where
center-right governments in Greece, Denmark, Ireland and Eastern Europe have
dramatically reduced corporate tax rates, they understand that they cannot
help workers if they drive away the capital that employs and pays them.
Henry Olsen, The Wall Street
Journal, July 19, 2008 ---
http://online.wsj.com/article/SB121642093483266551.html?mod=djemEditorialPage
"US gets ready to blow its economy away," by Christopher Booker, London
Telegraph, August 17, 2008 ---
http://www.telegraph.co.uk/opinion/main.jhtml?xml=/opinion/2008/08/17/do1708.xml
After years when America was vilified for
not taking "global warming' seriously, it was a shock to find how
"environmentalism" is now threatening to transform what is still the largest
and richest economy in the world.
Both candidates favour a version of the
proposed "cap and trade" scheme to slash US greenhouse gas emissions to 63
per cent below 2005 levels, at an estimated cost by 2030 of more than $600
billion a year - representing a cumulative loss to the US economy, within 22
years, of $4.8 trillion.
Although America is still dependent on
coal for around half its electricity, with reserves estimated as likely to
last 200 years, state after state is proposing to ban new coal-fired power
stations.
Environmental groups, with powerful
political support, are now lobbying equally fiercely against natural gas or
any new nuclear power plants.
Most dramatic of all are the implications
of a Supreme Court judgment in the case of Massachussets v the US
Environmental Protection Agency (EPA) which ruled by a single vote that the
EPA must treat any greenhouse gases as "pollution", to be regulated under
America's Clean Air Act.
The EPA is thus mandated to impose drastic
new limits on emissions of carbon dioxide and other gases from pretty well
any source, not just industry and transport but schools, hospitals, even
lawn mowers.
The implications are so immense for almost
every sector of the US economy that government departments -commerce,
agriculture, energy and others - have been queuing up to protest, arguing
that the effects of such regulation would be so damaging that it should be
regarded as unthinkable.
But politicians of both parties, led by
the two men vying for the presidency, are so carried away in the rush to
appear "green" that it seems there is no longer any national voice powerful
enough to question the sanity of such measures.
All the fashionable talk is of how
fossil-fuels must be replaced by massively subsidised sources of "renewable"
energy, such as vast arrays of solar panels, even though a recent study
showed that a kilowatt hour of solar-generated electricity costs between 25
and 30 cents, compared with 6 cents for power generated from coal and 9
cents for that produced by natural gas.
What is terrifying is the extent to which
America's leading politicians seem oblivious to the economic realities of
what they are proposing. The readiness of Messrs McCain and Obama to posture
in front of pictures of virtually useless wind turbines symbolises that
attitude perfectly.
Here, in the EU we are only too sadly
familiar with politicians floating off into cloudcuckooland over our future
energy policy, with the virtual certainty that before many years this may
leave us with a colossal shortfall in our electricity supplies.
But "the lights going out all over Europe"
is one thing: if they go out in the richest economy in the world - while
China cheerfully continues to build one new coal-fired power station a week
- we may look back on the US presidential election of 2008 as a time when
history really did reach a watershed; the moment when the nations of the
West finally signed up to the most bizarre suicide note the world has ever
seen.
Continued in article
Mixing tax hikes and trade protectionism could send the economy into a
tailspin
History teaches us that high taxes and protectionism are not
conducive to a thriving economy,
the extreme case being the higher taxes and tariffs that deepened the Great
Depression.
Despite the rhetoric, that's not just on "rich" individuals. It's also on a lot
of small businesses and two-earner middle-aged middle-class couples in their
peak earnings years in high cost-of-living areas. (Obama's large increase in
energy taxes, not documented here, would disproportionately harm low-income
Americans. And, while he says he will not raise taxes on the middle class, he'll
need many more tax hikes to pay for his big increase in spending.) . . . Now
trade. In the primaries, Sen. Obama was famously protectionist, claiming he
would rip up and renegotiate the North American Free Trade Agreement (Nafta).
Since its passage (for which former President Bill Clinton ran a brave anchor
leg, given opposition to trade liberalization in his party), Nafta has risen to
almost mythological proportions as a metaphor for the alleged harm done by
trade, globalization and the pace of technological change. Yet since Nafta was
passed (relative to the comparable period before passage), U.S. manufacturing
output grew more rapidly and reached an all-time high last year; the average
unemployment rate declined as employment grew 24%; real hourly compensation in
the business sector grew twice as fast as before; agricultural exports destined
for Canada and Mexico have grown substantially and trade among the three nations
has tripled; Mexican wages have risen each year since the peso crisis of 1994;
and the two binational Nafta environmental institutions have provided nearly $1
billion for 135 environmental infrastructure projects along the U.S.-Mexico
border. History teaches us that high taxes and protectionism are not conducive
to a thriving economy, the extreme case being the higher taxes and tariffs that
deepened the Great Depression. While such a policy mix would be a real change,
as philosophers remind us, change is not always progress.
Michael J. Boskin (Stanford
University Economics Professor)," Obamanomics Is a Recipe
for Recession," The Wall Street Journal, July 29, 2008 ---
http://online.wsj.com/article/SB121728762442091427.html?mod=djemEditorialPage
Bob Jensen's threads on entitlements are at
http://www.trinity.edu/rjensen/Entitlements.htm
Stanford YouTube channel debuts ---
http://news-service.stanford.edu/news/2008/june18/youtube-061808.html
The university has drawn from departments and
programs across campus and uploaded videos of classes, faculty interviews,
panel discussions, seminars and other events in order to showcase the
breadth and caliber of academic offerings at Stanford. By launching a
channel on YouTube—the leading online video community that allows people to
discover, watch and share originally created videos—the university is
building upon its efforts to provide online access to free educational
content for the Stanford community and greater public.
Stanford's Offerings on YouTube (turn you speakers on before clicking)
---
http://www.youtube.com/stanford
Other universities (notably UC Berkeley) beat Stanford to YouTube. You can
find the links to many of them at
http://www.trinity.edu/rjensen/000aaa/updateee.htm#OKI
Forwarded by my Good Friend Tom Robinson (Emeritus AIS Professor from the
University of Alaska in Fairbanks)
"Family Emmons a hit in Beijing," NBC Olympics, August 15, 2008
---
http://www.nbcolympics.com/shooting/news/newsid=216546.html#family+emmons+beijing
Parents all over America rely on the judgment of Joan Graves, '63. She
heads the board that determines
the G, PG, PG-13, R or NC-17 ratings for Hollywood's movies.
"As head of Hollywood’s movie ratings board, Joan Graves keeps parents in the
know," Sonja Bolle, Stanford Magazine, July/August 2008 ---
Click Here
Also at
http://snipurl.com/bolle2008 [pgnet_stanford_edu]
Remedial Education: One of the Most Costly, Frustrating, and Low
Success Endeavors in Higher Education
Remedial education is expensive and controversial —
but is it effective?That’s the question that two education researchers have
attempted to answer based on an analysis of nearly 100,000 community college
students in Florida. The scholars — Juan Carlos Calcagno of the Community
College Research Center, at Teachers College of Columbia University, and
Bridget Long of the Graduate School of Education at Harvard University —
have decidedly mixed results to report. There is some positive impact of
remedial education, they found, but it is limited.
Their study has just
been released by the National Bureau of Economic Research.
Florida is an ideal site for research on many
education questions because the state has uniform requirements for community
college students with regard to placement testing and remedial education —
and the state also collects considerable data on what happens to students as
they progress through higher education.
In looking at the impact of remedial education, the
study found that — among those on the edge of needing remediation — being
assigned to remedial math and reading courses has the effect on average of
increasing the number of credits completed and the odds that students will
return for a second year. But while those are important factors, the report
finds no evidence that remedial education increases the completion of
college-level credits or of degree completion.
“The results suggest that the costs of remediation
should be given careful consideration in light of the limited benefits,” the
authors write.
At the same time, however, they note that there are
benefits to students and society of having people experience even one year
of college, some of it remedial. Further, they note that if remedial
education encourages early persistence, colleges may have the “opportunity
to reach students with other types of programming and skill development”
beyond that offered now. In terms of figuring out whether the trade-offs
favor remedial programs, the authors say that there still isn’t enough
evidence in, but that their study points to the need for more detailed
analysis.
“More work is needed on the effects of remediation
relative to its costs,” the authors say. The authors open their paper by
noting that conservative estimates hold that public colleges spend $1
billion to $2 billion annually on remedial education — and that level of
cost is sure to attract more scrutiny.
Jensen Comment
One of the most dysfunctional status symbols in the United States is a college
degree. It's like you have to have a diploma or you're in a lower caste. I much
prefer the German system in which only relatively small proportion of the
populace completes a college education. But status is also attributed to skilled
workers in the trades. Long and difficult apprenticeship programs make it
difficult to become a master plumber, electrician, mechanic, bricklayer, etc.
But these skilled workers have status and incomes commensurate with their worth.
Up here in the mountains we have a regular UPS driver by the name of Joe. Joe
has a BS in Finance from a major university, but he makes no pretense that he's
any better than other UPS drivers who never went to college. Some of them
might have even had troubles with remedial courses if they had tried to go on to
college. But they're darn good at their jobs or UPS would not keep them on from
year to year. The same can be said for our police, firefighters, butchers,
bakers, and candlestick makers.
The moral issue is to what degree society has an obligation to educate (not
just train) all citizens who desire, for whatever reason, an education. The next
question is who should pay for those who need remedial education before they can
enter college degree programs. There are no easy answers here.
There also is the factor of socialization. Some
students want to get into college for reasons other than education. Many college
students meet their future spouses on campus. Is there a better selection to
choose from on campus vis-a-vis on the job or in a bar after work?
Too Much Need for Remedial Education, Too Little Success ---
http://www.trinity.edu/rjensen/HigherEdControversies.htm#RemedialNeeds
Here's an unexpected way education pays
Mutual fund managers had significantly better
returns on investments made in companies led by their former classmates than
they did in companies where no such connections existed, according to a recent
study. Indeed, investments in so-called “connected” stocks outperformed
non-connected stocks by more than 8 percent, the study found.The findings are
published in the bureau’s working paper, entitled
“The
Small World of Investing: Board Communications and Mutual Fund Returns.”
Jack Stripling, "Another Way Education Pays," Inside Higher Ed,
July 29, 2008 ---
http://www.insidehighered.com/news/2008/07/31/nber
Question
When does education become more and more like training (or education
specialization at the wrong level)?
Undergraduate accounting programs probably have a worse problem with this
than any other degree programs, including other business programs such as
finance, marketing, and management. Accounting has more required courses in
large measure due to the number of accounting courses required to sit for the
CPA Examination.
"Pre-Med
Education Must Be Compatible with Liberal Arts Ideals," by Timothy R. Austin,
Inside Higher Ed, July 31, 2008 ---
http://www.insidehighered.com/views/2008/07/31/austin
As we approach the second decade of the century, it
is fair to ask what young medical doctors should know and where and when
they should learn it. But amid calls for revisions to the undergraduate
premedical curriculum, undergraduate colleges must guard against being
co-opted as “farm clubs” for “big league” schools of medicine.In the
American system of higher education, to paraphrase the opening of a popular
television series, the task of educating and training tomorrow’s doctors is
shared by two separate yet equally important institutions: baccalaureate
colleges of arts and sciences and professional schools of medicine. And, as
the ubiquitous use of the term “pre-med” implies, undergraduate educators
have long accepted their responsibility to equip students who aspire to
become physicians with the knowledge and skills essential for admission to
medical school. It follows from this premise that changes in the scope and
focus of medical school curricula will raise legitimate questions about the
courses most appropriate for premed students.
This argument furnishes the starting point for a
recent contribution by Jules L. Dienstag to the New England Journal of
Medicine (“Relevance
and Rigor in Premedical Education”). In his essay,
Dienstag notes the demands placed on medical school faculties by an ever
expanding range of “new scientific material” and deplores the “widely varied
levels of science preparation” among first-year medical students. As a
remedy, he proposes a radical reshaping of the pre-medical science
curriculum and a corresponding revision of both the Medical College
Admissions Test (or MCAT) and the criteria used by medical school admissions
committees. By “refocusing” and “increasing [the] relevance” of the science
courses pre-med students take, Dienstag argues, undergraduate institutions
could better prepare graduates for professional school while simultaneously
opening up additional space in the curriculum for “an expansive liberal arts
education encompassing literature, languages, the arts, humanities, and
social sciences.”
Dienstag’s prescription deserves serious
consideration by faculty and administrators at baccalaureate and
professional institutions alike. He offers valuable suggestions on a range
of issues. But Dienstag naturally approaches this topic from his own
perspective — that of the dean for medical education at Harvard Medical
School. In advocating for changes that would address the challenges facing
his own colleagues, he ignores (or at least passes too quickly over)
complications and contradictions that those changes would create at
undergraduate colleges.
Each entering class at any undergraduate
institution contains many more students who express their firm intention to
become medical doctors than will ever apply to a medical school, let alone
gain admission. Some will learn in Chemistry 101 that their intellectual
gifts are not those of a scientist. Others will be seduced by the excitement
of laboratory research and pursue Ph.D. rather than M.D. degrees. Still
others will surprise themselves (not to mention their parents) by
discovering a passion for literature or archaeology, economics or music that
overwhelms their earlier conviction about their destined career paths.
Such defections are scarcely surprising, given the
limited knowledge and experience that high school students rely on as the
basis for forming their views about possible life goals. But it is also
important to recognize that many undergraduate institutions – liberal arts
colleges in particular – actively encourage their students to remain
intellectually curious and open to the full range of disciplines that they
sponsor. “Pursue your passion,” we advise incoming first-year students at
the College of the Holy Cross. “Find what excites and fulfills you and see
where it may lead.” Tracking pre-med students into what Dienstag describes
as a science curriculum with “a tighter focus on science that ‘matters’ to
medicine” runs counter to this liberal arts ethos. While it might better
prepare the minority of those students who will one day matriculate at a
school of medicine, it could handicap those whose scientific interests point
them toward industry or teaching and research. It could also restrict the
breadth of the scientific education that non-science majors would take with
them if later decisions led them towards majors in the humanities, arts or
social sciences. And even for the small number of students who would in fact
emerge from such a streamlined curriculum and enter medical school, one has
to question the wisdom of targeting “biologically relevant” material at the
expense of courses in topics as critical to the future of our planet as
ecology and population genetics.
Another way of explaining the unease that some
faculty members at liberal arts colleges may feel over Dienstag’s proposal
is that it implies that the study of biology, chemistry, physics and
statistics is undertaken as a means — and to one very particular end. The
attitude we seek to foster in our students at liberal arts institutions, by
contrast, is that one studies a discipline for what it reveals about the
universe we inhabit and about what the mission statement at the College of
the Holy Cross calls “basic human questions.” The knowledge and skills that
one acquires in the process will be equally useful in one’s career and in
one’s life outside the workplace and certainly do not limit who one may
become, either professionally or personally.
There is no question that the combined eight-year
premedical and medical school curriculum that has served us well for decades
is coming under increasing pressure. With each year that passes, society
expects more of its physicians; as Dienstag notes, we now demand that they
be trained not only in medical science but also in “ethics, … listening
skills, and skills relevant to health policy and economics.” Unless we are
to extend the already long training period by another year, changes in what
we teach and how we teach it are inevitable.
Dienstag urges those of us who teach undergraduates
not to “shy away from the challenge” posed by this shifting environment. I
suggest that the challenge we confront can not be addressed effectively
without all parties being open to possible changes in the way they
contribute to the process. More importantly, our colleagues in the
professional schools must understand that the term “pre-med” designates a
provisional career aspiration far more often than it does a firm commitment.
Undergraduate students are by definition still learning about their world
and seeking out their place in it, so our institutions serve their needs
when we balance the importance of effective pre-professional preparation
with the equally compelling need for curricular flexibility and disciplinary
breadth.
Bob Jensen's threads on higher education controversies are at
http://www.trinity.edu/rjensen/HigherEdControversies.htm
Cuil has demonstrated very well, it doesn't help you to look through the
entire haystack
if it gets dumped on your head, and all you can see is a bunch of hay out there
---
http://www.cuil.com/info/
"A Google Killer Stumbles Cuil's rough launch shows the difficulty of
challenging major search engines," by Erica Naone, MIT's Technology
Review, July 31, 2008 ---
http://www.technologyreview.com/Infotech/21151/?nlid=1244&a=f
Boasting big plans, startup search engine Cuil
(pronounced "cool") launched on Monday. The company sold itself on having
indexed more pages than Google, ranking based on context rather than on
popularity, and displaying results organized by concept within a beautiful
user interface. There was just one problem: when the search engine launched,
it didn't work very well.
Cuil's site was down intermittently throughout the
day on Monday, and even when the site was up, it sometimes returned no
results for common queries, or failed to produce the most relevant or
up-to-date results. For example, as of Wednesday morning, searching Cuil for
its own name returns nothing on the first results page that is related to
the engine itself, in spite of the buckets of press it got this week.
"I've seen these sorts of things for all sorts of
startups that get launched," says search-engine expert Danny Sullivan, who
runs Search Engine Land. "You have issues with how it's displaying results;
you have spam showing; you have a lot of duplicate results." But Cuil wasn't
supposed to suffer from the common problems that all sorts of startups
encounter. Its founders have impressive credentials: Anna Patterson and
Russell Power both had major roles in building Google's large search index,
and Tom Costello researched search architecture and relevance methods for
Stanford University and IBM. On top of the company's talent, Cuil raised a
reported $33 million in venture capital. "In many ways, Cuil was the
exception," Sullivan says. "They were one of the few people or companies out
there where you would say, 'Well, all right, I'd be dubious about anyone
else, but if anyone's going to have a chance, you should have a chance.' But
they didn't deliver, and I think that makes it even harder now for startups
to come along."
One of Cuil's main selling points is the size of
its index. Claiming to have indexed 120 billion Web pages, which it states
is three times more than any other search engine, the company says, "Size
matters because many people use the Internet to find information that is of
interest to them, even if it's not popular." But Sullivan notes that
relevance may be the most important quality of search. "When you come into
the idea of size, that starts getting into the question of obscure search,"
he says. "The needle-in-the-haystack search sounds so very compelling--the
idea that if you don't have a lot of pages, you can't search through the
entire haystack. But, as Cuil has demonstrated very well, it doesn't help
you to look through the entire haystack if it gets dumped on your head, and
all you can see is a bunch of hay out there."
Investor
Azeem Azhar,
who incubated the startup search engine
True Knowledge,
notes that while it's useful to have a large base of knowledge, sometimes
the sample that's selected matters more. "There are certain things that
people expect to have, and there are certain facts that are more useful than
others," he says. True Knowledge, which aims at the subset of searchers who
are looking for answers to direct questions, is currently working on
building up a database of relevant facts that can be used to answer
questions such as, "Who was president when Barack Obama was a teenager?" The
company hopes that by focusing on facts of broad interest, such as those
relating to famous people and places, it will be useful to people even as it
solicits responses for them by way of rounding out its database. When a user
asks a question that the system can't answer, it returns, "If there are any
answers, I couldn't find any"; invites the user to add to the database; and
points to traditional search results.
Continued in article
Jensen Comment
I'm still upset that Cuil adds its own pictures to hits that have nothing
whatsoever to do with the author or the documents. Jagdish is probably correct
in saying that Cuil scans part of the document and tries to link a photo from
its own archives that might possibly relate to content of the document. In this
respect Cuil is doing a poor job picking relevant photographs. If I were a
fundamentalist Christian or Muslim, I'd really be upset when Cuil added a
bikini-clad porn star or an aardvark to my serious document about my religion.
As for me I have a sense of humor, but I still contend that adding such useless
pictures is a waste of bandwidth.
The theory is probably that, relative to text, a picture is worth a thousand
words. But the wrong picture on a search hit relates to the wrong thousand
words. And when it comes to searching, trying to search through a million
photographs is certainly not as efficient as trying to search through a billion
words for needles called "key words" or "search phrases." One can't search
through a million pictures for such a thing as "FAS 133." It's pretty difficult
to even sort a million faces for those with big noses. In Internet Explorer when
I have a search page outcome listing 20 hits, I can quickly search the text on
the page by hitting Edit, Find and typing in a search word. I cannot search the
attached pictures for FAS 133. I suppose I could try to scan by eyesight for big
noses. But what would this have to do with my search for FAS 133?
The only real answer to searching for needles in haystacks is indexing in a
way that certain words in different terminologies (e.g., "cash" versus "money"
versus "currency") or certain pictures (e.g., pictures with mountains) are given
useful index magnets. More importantly, a good index system allows you to search
for derivative financial instruments without getting millions of unwanted hits
about mathematics derivatives or chemical derivatives.
We're already getting the highly useful index system for business financial
reports. It's called XBRL ---
http://www.trinity.edu/rjensen/XBRLandOLAP.htm#TimelineXBRL
Especially note the illustrations at
http://www.tryxbrl.org/
The inventor of the World Wide Web, Tim Berners-Lee, has been trying for
years to launch a more general indexing system called RDF but that has a long,
long way to go ---
http://www.trinity.edu/rjensen/XBRLandOLAP.htm#TimelineRDF
The Future of Search according to IBM ---
http://www.trinity.edu/rjensen/searchh.htm#FutureOfSearch
Bob Jensen's search helpers are at
http://www.trinity.edu/rjensen/searchh.htm
Search by Logos
AllMyFaves ---
http://www.allmyfaves.com/
Bob Jensen's Search Helpers ---
http://www.trinity.edu/rjensen/searchh.htm
Amazing New Facts About the Internet
I watched the history of computing in the 1990s on the History Channel on
July 21, 2008 ---
http://www.history.com/
Some facts mentioned concerning today in 2008 amazed me. I did not dig out
independent verification of these facts.
- The amount of information on Internet servers now doubles every 12
hours.
Jensen Comment
For example we might soon have more barrels of information about oil on the
Internet than barrels of oil underground. With stored information doubling
every 12 hours this makes Google's ranking of "hits" in information searches
all-powerful in guiding us to what we learn. I sure hope Google lives up to
it's motto: "Do no evil!" But even if it does no evil
intentionally, any ranking of gazillions of documents provides different
learning than other rankings of the same gazillions of documents. And the
rankings of documents on a topic in English are bound to vary from rankings
of documents on the same topics in Chinese, Japanese, German, Russian,
French, etc.
- There are over one billion users of the Internet worldwide. Although 70%
of the people in the United States now use the Internet, the U.S. usage only
ranks third among nations of the world at the present time.
- Google will not disclose the number of Internet servers currently in use
for Google searches, but techies estimate that it's moving close to 500,000
high capacity servers. I don't know if this includes the amazing YouTube
servers owned by Google, but I doubt it. I can't imagine the number of
servers needed to serve up over a billion videos on YouTube. It takes about
one gigabyte of storage just to store ten minutes of video compressed into a
mpg format. The storage needed to serve up over a billion YouTube videos
boggles my mind ---
http://www.trinity.edu/rjensen/HelpersVideos.htm
- Japanese robotic toys became popular in the 1990s and often sold between
$35 and $100 per toy. What amazed me is that they sold over 80 million of
just one type of robot about the size of a teddy bear and just as fluffy.
This particular toy had a built in dictionary of over 100 English words and
gave the impression that it was learning English over time as a child spoke
to the robotic toy. Our National Intelligence Agency, however, was so stupid
that taking this toy into their DC building was banned for employees because
the NIA thought the toy robot might overhear secrets. I suppose one could be
customized to record conversations, so maybe the NIA was not so stupid,
although as of late the Agency has not demonstrated that in knows enough to
worry about.
Bob Jensen's threads on how to find Internet statistics are at
http://www.trinity.edu/rjensen/Bookbob4.htm
(Just scroll down a short bit)
We hear a lot about carbon footprints polluting the earth. We also have
Internet servers polluting the earth.
Egads! I'm a big time polluter at
http://www.trinity.edu/rjensen/
"China says its population of Internet users rises to world No. 1 at 253
million," MIT's Technology Review, July 25, 2008 ---
http://www.technologyreview.com/Wire/21132/?nlid=1233&a=f
China's booming Internet population has
surpassed the United States to become the world's biggest, with 253 million
people online despite government controls on Web use, according to
government data reported Friday.
The latest figure on Web use at the end of
June is a 56 percent increase from a year ago, the China Internet Network
Information Center said. It said the share of the Chinese public using the
Internet is still just 19.1 percent, leaving more room for rapid growth.
The United States had an estimated 223.1
million Internet users in June, according to Nielsen Online, a research
firm. The Pew Internet and American Life Project puts U.S. online
penetration at 71 percent.
"This is the first time the number has
drastically surpassed the United States, becoming the world's No. 1," a
CNNIC statement said.
The communist government encourages
Internet use for business and education but tries to block access to Web
sites deemed pornographic or subversive. Web surfers have been jailed for
posting or e-mailing material that criticizes communist rule or is deemed a
violation of vague national security laws.
Beijing blocks access to Web sites run by
dissidents, human rights groups and some foreign news media. Web surfers
were blocked from seeing Google Inc.'s YouTube and other foreign sites with
video footage of anti-government protests in Tibet in March.
That same month, the government said it
would shut down 25 Chinese video sites and punish 32 others for violating
new rules against carrying content that is deemed pornographic, violent or a
threat to national security.
In financial terms, China's market lags
those of the United States, South Korea and other economies. But online
commerce, video sharing and other businesses are growing rapidly and have
raised millions of dollars from investors.
The commercial boom has produced success
stories such as games site Tencent.com and search engine Baidu.com, which
are competing with foreign rivals for local market share. Baidu said
Thursday its profits in the latest quarter soared 87 percent over the
year-earlier period to 265 million yuan ($38.6 million).
Total revenues for China's Internet
companies soared to 40.5 billion yuan ($5.9 billion) in 2007, up 48.6
percent from the previous year, the research firm Analysys International
reported this week. It said revenues should keep growing at an annual rate
of at least 30 percent in coming years, reaching 137.5 billion yuan by 2010.
By contrast, U.S. online advertising
revenues alone in 2007 were $21.2 billion (145.2 billion yuan), according to
a report by consulting firm PricewaterhouseCoopers for the Interactive
Advertising Bureau.
The research firm BDA China Ltd. says
China's online population should keep growing by 18 percent annually,
reaching 490 million by 2012 -- a number larger than the entire U.S.
population.
Internet companies are looking forward to
a new growth spurt once Chinese mobile phone carriers roll out
third-generation, or 3G, technology that can support Web-surfing and other
services. No date has been announced, but with more than 500 million mobile
accounts, China has a vast pool of potential wireless Internet users.
China's Internet boom has gotten a boost
from a sharp slowdown in demand for fixed-line phones as more customers opt
for mobile service. Fixed-line carriers have responded by expanding into
broadband Internet, Web-based cable television and other services. The CNNIC
report Friday said that as a result, 214 million Chinese now have high-speed
access.
Question
What states (the "Seven Sorry Sisters") in the U.S. have the most lax laws
regarding diploma mills?
"Watching a Watchdog’s Words," by Doug Lederman, Inside Higher Ed,
August 14, 2008 ---
http://www.insidehighered.com/news/2008/08/15/contreras
Alan Contreras is an increasing rarity these days:
a knowledgeable public official who says what he thinks without worrying too
much about whom he offends. That trait has him in a scrape over free speech
with his superiors in Oregon’s state government. And while they backed away
Thursday from the action that had most troubled him, Contreras isn’t backing
down from the fight.
Contreras oversees the state’s
Office of Degree
Authorization, which decides which academic
degrees and programs may be offered within Oregon’s boundaries. Through his
position in that office, which is part of the Oregon Student Assistance
Commission, Contreras has become a widely cited expert for policy makers and
journalists, on issues such as diploma mills, accreditation, and state
regulation of higher education. He also writes widely on those and other
topics for general interest newspapers and higher education publications —
including
Inside Higher Ed.
Some of those writings rub people the wrong way. In
a
2005 essay for Inside Higher Ed, for
instance, Contreras characterized a group of states with comparatively lax
laws and standards on governing low-quality degree providers as the “seven
sorry sisters.” Other columns have
questioned the utility of affirmative action and
discouraged federal intervention in higher education.
In his writings about higher education topics,
Contreras scrupulously notes that his comments are his own, not the state’s.
Contreras’s writings and outspoken comments over
the years have earned him his share of enemies, particularly among
proprietors of unaccredited institutions that he strives to shut down. And
while his wide-ranging opinion making has allowed some critics to write him
off as a gadfly, he testifies as an expert before Congress and delivers
keynote addresses at
meetings of higher education accrediting associations.
Those writings have raised some hackles in Oregon.
About a year ago, Contreras says, Bridget Burns, the appointed head of the
Oregon Student Aid Commission, told Contreras that she wanted him to seek
her approval before he did any outside writing that identified him as a
state employee. Contreras balked, and after numerous discussions among
commission officials in the months that followed, he says, he was told
during his annual review last December that “they realized I had the right
to do my writing,” Contreras says. “I thought it was all done.”
But this week, Contreras says he was contacted by
several acquaintances who had received an annual survey that the commission
does, as part of his annual review, to assess the quality of his and his
office’s work. In addition to the usual two questions of the “how are we
doing?” variety, as Contreras calls them, the survey that began circulating
last week contained two new ones:
- “Alan occasionally writes opinion pieces in
newspapers and professional journals. Do you have any concerns about a
state employee expressing personal opinions in this way?”
- “Do Alan’s writings affect your perception of
OSAC?”
Contreras says that several of those who contacted
him asked him whether he was under fire from his superiors. The official of
one institution that is involved in a case before him, he says, “asked if I
was the victim of a witch hunt by my own agency.” One recipient of the
survey, Michael B. Goldstein, a Washington lawyer who serves on an
accreditation panel with Contreras and has appeared on conference panels
with him, says he was surprised both to have been asked to assess Contreras
and by the tenor of the questions.
“It’s not uncommon for people who work closely with
someone to be asked to comment on his or her performance, but I have never
seen it cast like this to people who are pretty far removed,” Goldstein
says.
Contreras characterizes the commission’s inquiry as
an attempt “to unconstitutionally interfere with my free speech rights under
the Oregon Constitution,” which reads in part: “No law shall be passed
restraining the free expression of opinion, or restricting the right to
speak, write, or print freely on any subject whatever; but every person
shall be responsible for the abuse of this right.” The commission’s inquiry,
he says, “damaged my reputation with the people I work with” in and around
Oregon. “It’s clear that it’s perceived out there as some show of ‘no
confidence’ in me.”
Contreras says that he complained Wednesday to the
staff of Gov. Ted Kulongoski about the commission’s actions, and that he had
asked for Burns’s resignation. Kulongoski’s higher education aide could not
be reached for comment late Thursday.
Public Employees’ Free Speech Rights
The legal situation surrounding the free speech
rights of public employees is in a state of flux. A
2006 Supreme Court decision altered 35 years of
settled jurisprudence by finding that when public employees make statements
that relate to their official duties, “the employees are not speaking as
citizens for First Amendment purposes, and the Constitution does not
insulate their communications from employer discipline,” as Justice Anthony
M. Kennedy wrote in the majority opinion in Garcetti v. Ceballos.
That ruling modified the court’s 1968 decision in
Pickering v. Board of Education, which had
mandated that public employees have a right to speak about matters of public
concern that must be balanced against the government’s ability to operate
effectively and efficiently.
Contreras acknowledges that, both legally (even
under Oregon’s expansive constitutional provision) and otherwise, he might
be on shaky ground if he “went around trashing” the Oregon Student
Assistance Commission’s scholarship and other financial aid programs. “It
would be completely inappropriate for me to go around saying that these
programs are terrible programs and shouldn’t be supported,” he says.
But “99 percent of what I write doesn’t have to do
with anything the agency is doing,” Contreras says. “So what if I said the
University of Oregon’s affirmative action plan is awful, or that the level
of academic planning in most colleges is insufficient. That is legitimate
comment on public policy issues, and it is perfectly normal comment by a
citizen.”
Continued in article
Bob Jensen's threads on diploma mills are at
http://www.trinity.edu/rjensen/FraudReporting.htm#DiplomaMill
Bob Jensen's threads on whistle blowing are at
http://www.trinity.edu/rjensen/FraudConclusion.htm#WhistleBlowing
Bob Jensen's fraud updates are at
http://www.trinity.edu/rjensen/FraudUpdates.htm
Bob Jensen's threads on
assessment are at
http://www.trinity.edu/rjensen/assess.htm
"New
Book by Pollster John Zogby Says Online Education Is Rapidly Gaining Acceptance,"
Chronicle of Higher Education, August 12, 23008 ---
http://chronicle.com/wiredcampus/index.php?id=3236&utm_source=wc&utm_medium=en
John Zogby, president & CEO
of the polling company Zogby International, says that American students are
quickly warming up to the idea of taking classes online, just as consumers
have taken to the idea of renting movies via Netflix and buying microbrewed
beer.
In a new book by Mr. Zogby released today, he said
that polls show a sharp increase in acceptance of online education in the
past year. For more on the story, see
a free
article in today’s Chronicle.
National surveys show that a majority
of Americans think online universities offer a lower quality of
education than do traditional institutions. But a prominent pollster,
John Zogby, says in a book being released today that it won't be long
before American society takes to distance education as warmly as it has
embraced game-changing innovations like microbrewed beers, Flexcars, and
"the simple miracle of Netflix."
The factor that will close that
"enthusiasm gap" is the growing use of distance education by
well-respected universities, Mr. Zogby predicts in the book, The Way
We'll Be: The Zogby Report on the Transformation of the American Dream
(Random House).
The book, which is based on Zogby
International polls and other studies, also touches on public attitudes
toward politics, consumer habits, spirituality, and international
affairs, and on what men and women really do want from each other. Mr.
Zogby says polls detect signs of society's emerging resistance to big
institutions, and its de-emphasis on things and places. "We're
redefining geography and space," he says—and a widening acceptance of
online education is part of the trend.
Today there is still a "cultural lag"
between the public's desire for flexible ways to take college courses
and what the most-established players offer, Mr. Zogby said in an
interview with The Chronicle on Monday. "There's a sense that
those who define the standard haven't caught on yet," he said.
But Mr. Zogby writes that polling by
his organization shows that attitudes about online education are
changing fast. His polling also points to other challenges that colleges
will face as they race to serve a worldwise generation of
18-to-29-year-olds that Mr. Zogby calls "First Globals."
In one 2007 poll of more 5,000 adults,
Zogby International found that 30 percent of respondents were taking or
had taken an online course, and another 50 percent said they would
consider taking one. He says the numbers might skew a little high
because this poll was conducted online and the definition of an online
course was broad, including certificate programs or training modules
offered by employers.
Only 27 percent of respondents agreed
that "online universities and colleges provide the same quality of
education" as traditional institutions. Among those 18 to 24 years old,
only 23 percent agreed.
An even greater proportion of those
polled said it was their perception that employers and academic
professionals thought more highly of traditional institutions than
online ones.
Rapid Shift in Attitude
Yet in another national poll in
December 2007, conducted for Excelsior College, 45 percent of the 1,004
adults surveyed believed "an online class carries the same value as a
traditional-classroom class," and 43 percent of 1,545 chief executives
and small-business owners agreed that a degree earned by distance
learning "is as credible" as one from a traditional campus-based
program.
Mr. Zogby said that differing
attitudes in two polls within a year show that "the gap was closing"—and
he said that wasn't as surprising as it might seem. As with changing
perceptions about other cultural phenomena, "these paradigm shifts
really are moving at lightning speed."
That, says Mr. Zogby, is why he writes
about online universities in a chapter—"Dematerializing the
Paradigm"—that discusses the rise of car-sharing companies like Flexcar
(now merged with Zipcar), the emergence of Internet blogs as a source of
news and information, and the popularity of microbrewed beer.
And while it may be true that
microbrews and Zipcars, at least, are still very much niche products,
Mr. Zogby says they are signs of transcendent change—just like the
distance-education courses that are being offered by more and more
institutions across the country. "When you add up all the niche
products, it's a market unto itself," he says.
In the book, Mr. Zogby also highlights
the emerging influence of the First Globals, whom his book calls "the
most outward-looking and accepting generation in American history."
First Globals, he says, are more socially tolerant and internationally
aware.
It is these First Globals, he writes,
who are shaping what he says is nothing short of a "fundamental
reorientation of the American character away from wanton consumption and
toward a new global citizenry in an age of limited resources."
Higher education, he said in the
interview, needs to take notice and adapt. These days, he said, students
are much more likely to have experienced other cultures firsthand,
either as tourists or because they have immigrated from someplace else.
Whether college for them is a traditional complex of buildings or an
interactive online message board, said Mr. Zogby, "there is a different
student on campus."
"How to Be an Online Student
and Survive in the Attempt," by Maria José Viñas, Chronicle of Higher Education,
Chronicle of Higher Education, August 11, 2008 ---
Click Here
The lives of many online college students are not
easy. They have to combine jobs, house chores, family life and, on top of
all that, do some actual studying. To help online students cope with this
burden, a blog sponsored by Western Governors University offers survival
tips.
The Online Student Survival
Guide, a program that kicked off in May, is meant
to give online students tips on adjusting to online learning and staying
motivated throughout the courses, while balancing life and school. Following
the famous Latin maxim “mens sana in corpore sano”, the bloggers also write
posts on healthy eating—not only for the online students, but for their
families, too.
Once again, the link to the Survival Guide is
http://onlinestudentsurvival.com/
The Dark Side of Education Technology and Online Learning ---
http://www.trinity.edu/rjensen/000aaa/theworry.htm
Bob Jensen's threads on distance education are at the following sites:
Cloud Computing ---
http://en.wikipedia.org/wiki/Cloud_Computing
Check out some recent cloud computing stories on
TechnologyReview.com:
-
Cloud Computing's Perfect Storm?: An initiative
involving Intel, Yahoo, and HP will use large-scale research
projects to test a new Internet-based computing infrastructure.
-
Lost in the Clouds: MobileMe is facing problems
endemic to cloud computing.
-
TR10: Offline Web Applications: Adobe's Kevin Lynch
believes that computing applications will become more powerful
when they take advantage of the browser and the desktop.
|
"Google's Cloud Looms Large: How might expanding Google's
cloud-computing service alter the digital world?," by Kate Greene, MIT's
Technology Review, December 3, 2007 ---
http://www.technologyreview.com/Biztech/19785/?nlid=701
To know
how you'll be using computers and the Internet in the coming years, it's
instructive to consider the Google employee: most of his software and data--from
pictures and videos, to presentations and e-mails--reside on the Web. This makes
the digital stuff that's valuable to him equally accessible from his home
computer, a public Internet café, or a Web-enabled phone. It also makes damage
to a hard drive less important. Recently, Sam Schillace, the engineering
director in charge of collaborate Web applications at Google, needed to reformat
a defunct hard drive from a computer that he used for at least six hours a day.
Reformatting, which completely erases all the data from a hard drive, would
cause most people to panic, but it didn't bother Schillace. "There was nothing
on it I cared about" that he couldn't find stored on the Web, he says.
Schillace's digital life, for the most part, exists on the Internet; he
practices what is considered by many technology experts to be cloud computing.
Google already lets people port some of their personal data to the Internet and
use its Web-based software. Google Calendar organizes events, Picasa stores
pictures, YouTube holds videos, Gmail stores e-mails, and Google Docs houses
documents, spreadsheets, and presentations. But according to a Wall Street
Journal story, the company is expected to do more than offer scattered puffs of
cloud computing: it will launch a service next year that will let people store
the contents of entire hard drives online. Google doesn't acknowledge the
existence of such a service. In an official statement, the company says,
"Storage is an important component of making Web apps fit easily into consumers'
and business users' lives ... We're always listening to our users and looking
for ways to update and improve our Web applications, including storage options,
but we don't have anything to announce right now." Even so, many people in the
industry believe that Google will pull together its disparate cloud-computing
offerings under a larger umbrella service, and people are eager to understand
the consequences of such a project.
To be
sure, Google isn't the only company invested in online storage and cloud
computing. There are other services today that offer a significant amount of
space and software in the cloud. Amazon's Simple Storage Service, for instance,
offers unlimited and inexpensive online storage ($0.15 per gigabyte per month).
AOL provides a service called Xdrive with a capacity of 50 gigabytes for $9.95
per month (the first five gigabytes are free). And Microsoft offers Windows Live
SkyDrive, currently with a one-gigabyte free storage limit.
But
Google is better positioned than most to push cloud computing into the
mainstream, says Thomas Vander Wal, founder of Infocloud Solutions, a
cloud-computing consultancy. First, millions of people already use Google's
online services and store data on its servers through its software. Second,
Vander Wal says that the culture at Google enables his team to more easily tie
together the pieces of cloud computing that today might seem a little scattered.
He notes that Yahoo, Microsoft, and Apple are also sitting atop huge stacks of
people's personal information and a number of online applications, but there are
barriers within each organization that could slow down the process of
integrating these pieces. "It could be," says Vander Wal, "that Google pushes
the edges again where everybody else has been stuck for a while."
Continued in
article
Bob Jensen's Technology Glossary ---
http://www.trinity.edu/rjensen/245gloss.htm
Question
What is authorship by "CrowdSourcing?"
"Management Professor Uses 'Crowdsourcing' to Write Textbook," by
Jeffrey R. Young, Inside Higher Ed, August 15, 2008 ---
http://chronicle.com/wiredcampus/index.php?id=3248&utm_source=wc&utm_medium=en
Charles Wankel is gathering hundreds of co-authors
from around the world to write
his latest textbook
-- 926 of them in 90 countries, to be exact. Mr. Wankel is an associate
professor of management at St. John's University, in New York. Each of his
co-authors, most of whom are also management professors, will write or edit
a small portion of the final text, which is slated to be published by
Routledge. They're organizing the vast effort using a wiki that lets
participants see and edit each other's contributions. Mr. Wankel is
essentially asking the expected audience for the book to be part of its
production, since he hopes that management professors around the world will
end up using the text in their courses. He found his co-authors by searching
social networks like Facebook and LinkedIn for members who were management
professors -- and of course he invited colleagues he had met over the years.
The practice has been called "crowdsourcing," a term coined by a Wired
magazine writer to describe outsourcing a project to a large group using
collaborative Internet technologies. The authors are practicing what they
teach, too: The book's title is Management Through Collaboration: Teaming
in a Networked World. Chapter editors and others who devote significant
amounts of time to the project will get a cut of the royalties, says Mr.
Wankel. And the hope is that authors will do more than just write -- they'll
be asked to submit test questions, case studies, and even supplementary
video clips. "If each of us does a YouTube video interview with a manager
where we live in the language where we are, we'll have a 1,000 of them in 90
countries," says Mr. Wankel. "It's this kind of thing that the dinosaur
books can't compete with."
Jensen Comment
There's a bit of moral hazard in textbook adoption when a large proportion of
the 926 authors are inclined to adopt a textbook because they have written part
of the book. Hopefully, most authors are not so inclined, but in years past
accounting textbook publishers used a criterion of home university market share
when selecting joint authors. These publishers would first consider the colleges
having the largest numbers of students in a given course (such as basic
accounting where large universities may have thousands of enrollments each year
in basic accounting). Suppose Universities W, X, Y, and Z qualify in this
regard. The publishers would seek out co-authors in those universities.
The moral hazard became so great that some accounting programs established
policies against adopting basic accounting textbooks of faculty members.
There can of course be very legitimate personalized reasons for having each
author write about his or her theory development ---
http://www.trinity.edu/rjensen/theory/00overview/GreatMinds.htm
Jeff McNeill commented as follows on August 15, 2008:
Why even use a “traditional publisher”? Why not
simply conceive of this effort as a wiki itself? We are still in the dark
ages here ...
"Eight Life Changing Ideas from the Best Graduation Speakers,"
Online Education Articles, August 11, 2008 ---
Click Here
Hi Robert,
Just a wanted to send you a link to an article I
did that you and your mailing list/website might be interested. I got the
idea for the article in part because an email you sent with some notes from
P.J. O’Rourke. Thanks!
http://www.distance-education.org/Articles/Eight-Life-Changing-Ideas-from-the-Best-Graduation-Speakers-87.html
Enjoy,
Ben Pfeiffer
Distance-Education.org
www.distance-education.org
With over 50% of the American Accounting Association membership within
five years of retirement age, this could not have come sooner.
U.S. Social Security Retirement Benefit Calculators ---
http://www.socialsecurity.gov/estimator/
Bob Jensen's personal finance helpers are at
http://www.trinity.edu/rjensen/Bookbob1.htm#InvestmentHelpers
Question
Is college accountability stronger in Europe or the U.S.?
"On Accountability, Consider Bologna," by Elizabeth Redden, Inside Higher
Ed, July 28, 2008 ---
http://www.insidehighered.com/news/2008/07/28/bologna
Impressed by American higher education’s embrace of
accountability?
You shouldn’t be, according to a
new policy brief on the Bologna Process from the
Institute for Higher
Education Policy. Written by Clifford Adelman, a
senior associate at the institute, the document “contends that none of the
major pronouncements on accountability in U.S. higher education that we have
heard in the recent past – from Secretary of Education Margaret Spellings’
Commission on the Future of Higher Education to
platitude pronouncements and wish lists for student learning from the higher
education community — even begin to understand what accountability means.”
Meanwhile, Adelman contends that across the
Atlantic, the nearly decade-old, 46-country higher education reform
initiative known as the Bologna Process offers lessons for what real
accountability – not “accountability light” – looks like. And out of
Europe’s efforts to make colleges, continent-wide,
“more compatible and comparable,” Adelman
identifies a series of “reconstructive recommendations” for American higher
education.
As the policy paper, entitled “Learning
Accountability from Bologna: A Higher Education Policy Primer,” states,
“[a]ccountability in higher education begins with the establishment of
public definitions of degrees and criterion-referenced statements of
academic performance so that when an institution awards a credential it can
assert, with confidence: ‘This is what this degree represents, this is what
the student did to earn the degree, and a warrantee has been issued on
behalf of both institution and student.’”
“I want to be able to look at a degree like I’m
looking through the window right now, and see what’s on the other side,”
Adelman said in an interview Friday. “We can’t do that with U.S. degrees
today.”
The policy paper starts with an explanation of
Europe’s use of “qualifications frameworks,” defined as sets of
learning outcomes and competencies that a student must demonstrate in order
to receive a degree “at a specific level.” (“It is not a statement of
objectives or goals. It is not a wish list. It is a performance
criterion.") European nations have taken different approaches to developing
qualifications frameworks that define common outcomes by degree level — and,
it’s worth noting, only 7 of the 46 have completed the complex process so
far. Of those that have, Ireland, for instance, created a 10-level
framework, stretching “from kindergarten to doctorate.” The Netherlands tied
the labor market into its framework, indicating, Adelman explained, which
degrees qualify students for what sorts of jobs.
On this note, Adelman recommends that state higher
education systems define common core learning outcomes for associate,
bachelor’s and master’s degrees, “ratcheting” up the outcomes at each
interval. Asked Friday why states should take the lead on this front,
Adelman pointed out they hold most of the control in American higher
education. ("Keep the feds out!") Asked about the role of private colleges
in this proposed process, he said, “They buy in if they want to.”
Drilling down to a disciplinary level, Adelman next
describes efforts to establish a set of common reference points across
European colleges through what’s called a “tuning” process. For the
United States, he recommends that state authorities organize the various
academic departments, in each discipline, to try out a statewide tuning
process, which, he writes, is different than standardization and in fact
“goes to great lengths to balance academic autonomy with the tools of
transparency and comparability.”
“We all know that the flagship state university has
more resources and faculty depth than regional institutions, and that one
school can have faculty members with very distinct specializations who offer
various aspects of a discipline that another school can’t do,” Adelman said
Friday, by way of example. “But here if I say that all history majors in the
state have to have a program that has time depth to it – that you can’t just
major in 1850 to 1900, you’ve got to have a bigger range in history –
there’s nothing wrong in everybody buying into that. Everybody can buy into
that, whether you’re at the flagship state university or a regional
institution. Then how you fill that out, how you execute it in your own
program, is your own business.”
“The metaphor I use consistently for this,” he said
of the Bologna Process and accountability more generally, “is they’re
singing in the same key but not necessarily the same song.”
The report also recommends that the American
system of awarding credit be changed to reflect the level of academic
challenge of each course (with standardized levels defined in each state).
“We give three credits for introduction to sports and three credits for
neuro-psychology and pretend those things are equivalent. They’re not,”
Adelman said.
It also recommends that American colleges design
“degree supplements,” which, attached to the student’s diploma, would
offer more extensive information on the content of the degree. Adelman
recommends that the supplement include, among other items, the statement of
purpose for the degree, a statement of how the student came to the
institution (via high school or transfer, for instance), explanations of
program requirements, and a title and description of a thesis or final
project.
“All we know now is that if someone earned a
degree, they earned 120 credits with 40 in the major and a 2.5 minimum GPA.
It says nothing about anything else, “Adelman said.
“You learn what accountability means when you look
at this loop that 46 countries in Europe have agreed to,” he continued. “And
the loop starts with the qualifications frameworks in the degrees, then it
goes to tuning in the disciplines, then the third step is the credit system,
which is very different than ours, but it’s linked to student learning
outcomes.”
“When you get to that diploma supplement at the
end, it’s a warranty of everything that’s happened before it. And it’s
really student-centered.”
“Learning Accountability from Bologna” is the
second in the Institute for Higher Education Policy’s five-part series on
Measuring Global Performance. The institute
released a longer essay on the Bologna Process in May.
Bob Jensen's threads on college accountability are at
http://www.trinity.edu/rjensen/HigherEdControversies.htm#Accountability
Question
Is Apple's MobileMe a good idea for you?
"Apple's MobileMe Is Far Too Flawed To Be Reliable," by Walter S. Mossberg,
The Wall Street Journal, July 24, 2008; Page D1 ---
http://online.wsj.com/article/SB121685869764279343.html
So it was a big deal when Apple announced a new
service that, for $100 a year, would bring corporate-type synchronization of
email, calendars and contacts to anyone. It was even better that Apple
promised that the service, called MobileMe, would work on Windows computers
as well as on the company's own Macintosh computers, iPhones and iPod Touch
hand-helds. To top it off, Apple threw in 20 gigabytes of online storage, a
suite of Web-based applications, the ability to synchronize browser
bookmarks and an online photo gallery.
Unfortunately, after a week of intense testing of
the service, I can't recommend it, at least not in its current state. It's a
great idea, but, as of now, MobileMe has too many flaws to keep its
promises.
I am not referring to the launch glitches that
plagued MobileMe earlier this month, such as servers that couldn't keep up
with the traffic and email outages that, for some users, persist as I write
this. Those were bad, but they have eased considerably. Apple already has
apologized for them and is giving customers an extra 30 days on their
subscriptions to make up for the poor start. The problems I am citing are
systemic.
Here's how it's supposed to work. You subscribe to
MobileMe and set up a new MobileMe email account, which can also suck in
email from your current address. Your MobileMe email is pushed to your
Windows computer using your choice of Microsoft Outlook, Outlook Express or
the new Windows Mail program. It's also pushed to your Mac using the
built-in Apple Mail program. And it shows up instantly on your iPhone in the
phone's built-in email program.
Similarly, if you add, delete or change a calendar
entry or a contact on any of the devices, the change automatically is
reflected on all the others. In Windows, the MobileMe calendar shows up in
Outlook, and the contacts can be viewed in Outlook, the Windows Address Book
or Windows Contacts. On the Mac, the calendar and contacts appear in the
built-in iCal and Address Book programs. On the iPhone, MobileMe uses the
built-in Contacts and Calendar programs.
Bookmarks can be synchronized using either the Mac
or Windows versions of Apple's Safari Web browser, or Internet Explorer 7 on
Windows.
At the MobileMe Web site, using any computer, you
can send and receive email via a Web-mail program, and view and edit your
calendar and contacts. Changes made on the Web site instantly show up on
your computers and your iPhone, and vice versa. Also at the MobileMe Web
site, you can maintain a photo gallery and view your online file storage.
But in my tests, using two Macs, two Dell computers
and two iPhones, I ran into problem after problem. One big issue is that
while changes made on the Web site or the iPhone are instantly pushed to the
computers, changes made on computers are only synced every 15 minutes, at
best. Apple has admitted that this is a problem, and says it is working on
it.
But there's more. The Web site was sluggish, and
occasionally calendar entries wouldn't load at all. Sometimes, you have to
manually refresh the Web pages to see changes made on your devices. And when
I tried to open my Web-based file-storage page directly from the MobileMe
control panel on Windows, I got an error message on both Dells.
My MobileMe calendar, which originated on a Mac,
didn't flow into the main Outlook calendar, but appeared as a separate
calendar in Outlook, which was visible only by changing settings. My
address-book groups on the Mac, which are simply distribution lists, didn't
show up as distribution lists in Outlook, but as separate address books, and
they also weren't immediately visible. Apple blames Outlook quirks for these
issues, but in my view, it should have overcome them.
Other problems abounded. On one occasion, my synced
contacts on the iPhone appeared as names only, without any information. In
general, synced contacts on the iPhone loaded slowly.
When my Apple Mail program used rules I had set up
to automatically file certain emails into local folders instead of leaving
them in the inbox, they simply disappeared from my MobileMe account on the
iPhone and the Web site. Avoiding this requires a tedious editing of all
your rules.
Twice, MobileMe was unable to sync my bookmarks at
all, and when it did, their order was scrambled. When I synced contacts to
my iPhone, my custom ringtones for particular contacts were lost and had to
be reselected.
Apple patiently explained each of my problems,
sometimes helping me with workarounds, sometimes claiming they were rare,
other times saying that it was working on fixes.
Continued in article
Bob Jensen's threads on gadgets are at
http://www.trinity.edu/rjensen/bookbob4.htm#Technology
New Online PhD Program in Nursing
Jensen Comment
I have a friend who has a PhD in nursing. She's also a trauma nurse in a major
medical center and a Colonel in the Army Reserves. She got her nursing PhD in a
traditional manner from the University of Texas. From her I learned that
doctoral degrees in nursing are infrequent relative to most other academic
disciplines. Getting a nursing doctorate is less of a requirement for tenure in
most nursing programs in part because they've not been required for tenure. I
also suspect that defining a research niche for nursing is a bit difficult since
there are so many overlapping medical research disciplines in medical and
biological science.
Respectable online PhD programs in most any discipline are infrequent,
although I mention a few of them at
http://www.trinity.edu/rjensen/Crossborder.htm#CommercialPrograms
I know of no respectable doctoral program in accountancy.
Hence it surprised me somewhat that there would be an online PhD
program for nursing ---
http://www.convergemag.com/story.php?catid=422&storyid=107594
Capella University,
an accredited, online university based in Minneapolis,
announced a new PhD in education specialization in nursing education that
aligns with the
National
League for Nursing (NLN) competencies.
Capella's new specialization was developed to help
address the growing shortage of nursing faculty. According to the
American Association of
Colleges of Nursing (AACN), U.S. nursing schools
turned away more than 40,000 qualified applicants in 2007. Nearly
three-fourths of the nursing schools surveyed cited faculty shortages as one
of the reasons they could not accept all qualified applicants.
"Capella has launched this new nursing education specialization to help meet
this important need," said Kimberly Spoor, Ph.D., who is faculty chair of
Postsecondary and Adult Education for Capella's School of Education and will
lead the university's nursing education faculty. "The lack of nursing
faculty is an issue that is affecting our country's ability to educate
enough registered nurses to meet the needs of our health care system. The
AACN projects a shortfall of 340,000 nurses by the year 2020. The U.S.
Department of Education has also identified nursing as an 'area of national
need.'"
Applicants to the School of Education's Ph.D. nursing education
specialization must have a current license as a registered nurse and a
master's degree in nursing.
Click here for more of the latest
news in education technology.
If a new new online PhD program is introduced for accountancy, it may well be
that Capella University will be the first to offer such a degree that has a
chance of being recognized (for hiring purposes) by AACSB-accredited colleges
and universities. Note that the AACSB does not even accredit onsite
doctoral programs and has not yet accredited any online undergraduate or
masters online business programs that do not also have AACSB accreditation for
their onsite programs. For example, quite a few major colleges like the
University of Wisconsin and the University of Maryland have onsite AACSB-accredited
business programs that by extrapolation apply to their own online
business undergraduate and masters programs. But I do not know of any online
business education program that has AACSB accreditation without first having
such accreditation for an onsite program. I don't think there is even a process
getting separate accreditation for the online portions of business education
programs at such places as the University of Wisconsin and the University of
Maryland.
Questions
Do schools like the University of Wisconsin and the University of Maryland have
separate designations on the transcript whether a course like Principles of
Accounting was taken onsite or online?
If a student earns an online accounting degree or MBA degree from the
University of Wisconsin or the University of Maryland, do these universities
even designate that the degree was earned online? Personally I doubt it,
especially since some students my combine onsite courses with online courses
such that it's almost impossible to designate a degree as being online versus
onsite.
Bob Jensen's threads on online training and education programs are at
http://www.trinity.edu/rjensen/Crossborder.htm
Some great gadgets for travelers ---
http://snipurl.com/travelgad [www_computerworld_com]
Link forwarded by Glen Gray
Calling all
digital nomads -- you may not be wearing a dark suit, a
tie and shiny shoes, but you're out there with at least
a full day of work to get done. Chances are that, more
times than not, your workspace is a table at
Starbucks, a hotel lobby couch or a client's
lunchroom. In other words, you labor where and when you
can, without the kind of resources that a more
office-bound employee can call upon.
As a result,
your mobile gear has to be small, light and able to come
through for you while making you look good. Regardless
of whether it's a Wi-Fi smart phone, a solar-powered
battery or a portable printer, it has to get the job
done without making you work up a sweat. After all,
appearance counts for a lot these days.
Here are a
dozen great gadgets that no self-respecting digital
nomad will want to be without.
Print shop to
go
Forget about
waiting at a
Kinkos to print out that hard-copy report. Planon's
Printstik PS910 is a go-anywhere print shop. At 1.5
pounds and powered by a lithium ion battery, the PS910
easily fits into a notebook bag, yet it can print from a
smart phone, handheld or notebook, either through a USB
cable or wirelessly via
Bluetooth. The $300 printer uses thermal technology;
a package of three rolls of thermal paper costs $25. It
means that you only get monochrome documents, but if you
need a quick sales letter, a map or a proposal, this
could be just the thing.
Power central
So much work,
so few power outlets -- it's the nomad's nightmare.
Belkin's Mini Surge Protector with USB Charger turns a
single AC outlet into three, delivering electricity to
you and those around you (sharing that outlet may get
you good karma, or even a free latte). It also provides
a pair of USB ports for charging phones, handhelds or
media players. At 6 ounces, the Mini Surge Protector is
worth its weight in batteries, and it rotates so that it
won't block the second outlet on the wall. The device
costs $25, but is well worth it -- not the least because
it carries a $75,000 warranty against damage from a
power spike.
Clean machine
It may not be
able to stop a coffee cup from tipping over, but Zagg's
InvisibleShield keyboard cover can keep a spill from
turning into a digital disaster. Made of an ultrathin
plastic film, the type-through cover keeps liquids, dust
and who knows what else out of your notebook's delicate
keyboard. When it gets dirty, wipe it clean. The $35
cover has been precision-cut for a wide variety of
notebooks and comes with a lifetime guarantee not to
scratch or wear out.
Lean, green
machines
Why spend
valuable work time searching in vain for an AC outlet
when the sun can power your phone or other equipment?
Solio's Magnesium portable solar charger has three
photovoltaic solar panels that slide out to provide up
to 8 watts of power. It's enough to provide 15 minutes
of cell phone talk-time for every hour in the sun.
Solio's Magnesium charger comes with a USB tip and a
coupon for another
iGo power tip of your choice. If you'd rather simply
power your backpack, you can go green for $249 with
Voltaic's solar backpack. It puts out 4 watts of juice,
has its own battery and comes with 11 power tips so it's
sure to fit your equipment.
Keeping
secrets
The Fellowes
Monitor Filter is essential equipment for digital nomads
trying to keep a secret. Regardless of whether it's a
spreadsheet for your company's upcoming IPO or the
private portion of a friend's Facebook page, the filter
will prevent those around you from seeing what's on your
screen. Only those looking straight at the screen can
see anything, so digital Peeping Toms peering sideways
over your shoulder will see only black. Available for
12.1- to 15.4-in. displays, the filter costs about $35.
Write on
When recording
a meeting and taking notes is not enough, Livescribe's
Pulse Smartpen lets you do both by linking your
handwritten notes to what was said live. The Pulse
Smartpen can play back exactly what was said and when by
pressing the pen to any place in your notes. The only
catch is that you need to use one of Livescribe's
special 100-page notebooks, which cost $20 for a
four-pack. The $150 charcoal blue pen looks and feels
good when held, weighs 1.3 ounces and can record up to
200 hours of meetings, brainstorming sessions and
contact info. The software puts it all together, along
with cool apps like a translator and transcription
service, but it only works with Windows computers.
A good call
HP's iPaq 910
Business Messenger may look like an ordinary smart phone
with a screen on top and a thumb keyboard below for
tapping out e-mails, quick memos and instant messages.
But on top of calling and Web surfing over a 3G GSM
quad-band mobile phone network, this 5.3-ounce smart
phone can link with an 802.11b/g Wi-Fi network at a
connected coffee shop or client's office. Other features
include built-in Google Maps with Multimodal GPS
navigation, mobile versions of various Microsoft apps
and an alphanumeric QWERTY keyboard. An unlocked iPaq
910 handset costs about $500.
Make the
connection
Never seem to
have the right cable (or it's buried in the bottomless
pit of your notebook bag)? Meritline's Ultimate Cable
Kit ($26) can make the connection with retractable
FireWire, USB, telephone and Ethernet cables and all the
tips needed to plug just about any peripheral into your
computer. It all fits into a black-padded travel case
and comes with a travel mouse and headphones. For those
who never seem to have the right AC adapter, IOGear's
GearJuice ($40) can charge up just about any phone,
anywhere. The kit includes a power adapter and seven
tips that work with an assortment of popular cell
phones, media players and handhelds, along with a 2,000
milli-amp hour battery; enough power for several extra
hours of talk-time.
Biz flicks
When it's time
to pop a video clip into a presentation, onto your blog
or up on
YouTube, Pure Digital's Flip Mino does the trick. A
mini mite of a camcorder, Mino weighs 3.3 ounces, but
can capture a whole hour of TV-quality clips at
640-by-480 resolution video and 30 frames a second. For
those in a hurry (and what digital nomad isn't?) the
$180 Mino can transfer clips directly to online video
services such as
AOL Video, YouTube and myspacetv. And if you're
really in a hurry, you can buy an "action mount" that
lets you attach the camera to your handlebars or helmet.
Pinching pennies? The Mino is actually the head of the
Flip class. If you want to save a few bucks, you can opt
for the slightly less sleek $150 Flip Ultra and the
basic $130 Flip Video.
Quiet, please
Nomads need to
work wherever and whenever they can, but the world is a
noisy place. Aliph's Jawbone Bluetooth headset uses
advanced digital signal processing technology to block
out the racket going on around you and let your voice
shine through on calls. It can't silence crying babies,
traffic sounds or ringing phones, but at least with
Jawbone, the people on the other end of the call won't
hear them, making you sound better. Lighter and smaller
than other headsets, the latest version of the $130
Jawbone weighs one-third of an ounce, yet it's stylish,
with a leather-covered ear loop and a variety of
finishes.
July 18, 2008 reply from Bob Jensen
Thanks for the new gadget link Glen.
I snipped it to
http://snipurl.com/travelgad
I may order the InvisibleShield keyboard cover.
My wife says my keyboard should be quarantined --- along with my entire
computer nest. I think she's like to put a shield around the entire mess
with me inside.
I also will order the Mini Surge Protector.
Here's another gadget (a bit expensive) from a
former tidbit:
"New Keyboard Saves Accountants Time," SmartPros, January 18, 2008 ---
http://accounting.smartpros.com/x60437.xml
The R-Tab Keyboard homepage is at
http://www.r-tab.com/
Bob Jensen's threads on gadgets are at
http://www.trinity.edu/rjensen/Bookbob4.htm#Technology
My favorite gadgets are external storage/backup
devices ---
http://www.trinity.edu/rjensen/Bookbob4.htm#archiving
These are great for exchanging files between my computers as well as
for backing up files in case my main working computer crashes.
Community College Open-Textbook Project Gets
Under Way
Especially note the open sharing sources being used
The Community College Open Textbook Project begins this week with a member
meeting in California," by Catherine Rampell, Chronicle of Higher Education,
April 29, 2008 ---
Click Here
At the meeting,
representatives of institutions around the country will start reviewing
open-textbook models for “quality, usability, accessibility, and
sustainability,” according to a news release. They will initially review four
providers of free online educational resources:
Connexions,
run by Rice University;
Flat World Knowledge,
a commercial digital-textbook publisher that will begin
offering free textbooks online next year;
the University of California’s
UC College Prep Online, which
offers Advanced Placement and other courses online; and the
Community College Consortium for Open Educational Resources,
which was founded by the Foothill-De Anza Community College District and the
League for Innovation in the Community College.
The open-textbook
project was paid for by a $530,000 grant to the Foothill-De Anza Community
College District from the William and Flora Hewlett Foundation.
Connexions at Rice University ---
http://cnx.rice.edu/
"Really Open Source," by Scott Jaschik, Inside Higher Ed, July 29, 2005
---
http://www.insidehighered.com/news/2005/07/29/open
Few
projects in academe have attracted the attention and praise in recent years of
OpenCourseWare, a program in which the
Massachusetts Institute of Technology is making all of its course materials
available online — free — for anyone to use.
In the four years since
MIT launched the effort,
use of the courseware has skyrocketed,
and several other universities have created similar programs, assembling
material from their own courses.
With less fanfare than
MIT, Rice University has also been promoting a model for free, shared
information that could be used by faculty members and students anywhere in the
world. But the Rice program —
Connexions
— is different in key respects. It is assembling material from professors (and
high school teachers) from anywhere, it is offering free software tools in
addition to course materials, and it is trying to reshape the way academe uses
both peer review and publishing. The project also has hopes of becoming a major
curricular tool at community colleges.
“I was just frustrated
with the status quo,” says
Richard G. Baraniuk, in explaining how he
started Connexions in 1999. “Peer review is severely broken. Publishing takes
too long and then books are too expensive,” he says. “This is about cutting out
the middlemen and truly making information free.”
“I was just frustrated
with the status quo,” says Richard G. Baraniuk, in explaining how he started
Connexions in 1999. “Peer review is severely broken. Publishing takes too long
and then books are too expensive,” he says. “This is about cutting out the
middlemen and truly making information free.”
Baraniuk is a professor
of electrical and computer engineering at Rice, so many of the initial modules
(which can either be materials for a course, a lecture or any other
organizational unit) were in engineering and were submitted by Rice professors.
But as Connexions has grown (from 200 modules in its second year to 2,300), it
has attracted content in many disciplines and from many scholars.
There are materials for
courses on art history, birds, business and graphic design. Offerings are
particularly strong in music. And participating professors come from
institutions including Cornell, Indiana State and Ohio State Universities, and
the Universities of Illinois at Urbana-Champaign and Wisconsin at Madison.
Professors from outside the United States have also started to use the site — it
offers materials from the Norwegian University of Science and Technology and the
University of Cambridge.
Use of the materials
has grown steadily — in May, more than 350,000 individuals used the site at some
point, a mix of professors and students, about half of them on return visits.
Continued in article
Bob Jensen lists other free online textbooks in various disciplines,
including accounting textbooks, cases, and free online tutorials, at
http://www.trinity.edu/rjensen/ElectronicLiterature.htm#Textbooks
Bob Jensen's threads on free online tutorials in various academic
disciplines are at
http://www.trinity.edu/rjensen/Bookbob2.htm#Tutorials
Jensen Comment
There are various free online mathematics and statistics textbooks linked at
http://www.trinity.edu/rjensen/ElectronicLiterature.htm#Textbooks
(Scroll Down)
The history of Rice University's Connexions open sharing initiative is
briefly described at
http://www.trinity.edu/rjensen/000aaa/updateee.htm#OKI
Bob Jensen's threads on free online mathematics tutorials are at
http://www.trinity.edu/rjensen/Bookbob2.htm#050421Mathematics
"TextMeTV Is Either Future of Television or Beginning of Its End," by
Jeffrey R. Young, Chronicle of Higher Education, August 13, 2008 ---
http://chronicle.com/wiredcampus/index.php?id=3240&utm_source=wc&utm_medium=en
Late at night on a television station in Lansing,
Michigan, a new kind of program tries to make the audience the main
attraction. It's called
TextMeTV,
and it goes like this: One or two young hosts, some of them college
students, sit on a couch and read text messages being sent in live from
viewers, and those messages are also posted on a box in the corner of the
screen. Sometimes the hosts encourage those texters to debate topics of the
day, other times they offer free iPods or other prizes to viewers who can
answer trivia questions. The show looks more like a YouTube page than a
television show. Though moderators do edit the text messages that come in
before they post them to the screen, the show is live with no tape delay,
says Helena Kirby, a producer for the show and one of its 7 rotating hosts.
"There's no swearing and no sexual talk -- we keep it pretty clean," she
adds. Viewers pay a small fee per text message to participate. Ms. Kirby
says the show's best moments have been when viewers sparred about race
issues or politics. "People get fired up," she says. But this January the
show -- which has been on since last year -- began focusing more on games
and contests, like trivia challenges, than on debates.
One entertainment blogger
recently called the show "the dumbest thing I’ve ever
heard," noting that the show seems empty of substance. But Ms. Kirby argues
that it represents a revolutionary new format. "I think some people are just
afraid of it -- that this new concept is going to do something big, and they
don't want it to," she says. "I say, Out with the old, in the with the new."
Amariee Woods, another host of the show who is a senior at Michigan State
University, says that younger audiences want to participate, not just
passively consume media. "People want to put their comments on everything,
and the faster they can do that, the better." A similar show in Texas called
Subtext, which
features students from the University of Texas at Austin, uses a similar
format but focuses on dating. The shows are essentially trying to turn
television into something more like the Internet. In fact, the shows would
probably work better as interactive Web pages where people could put aside
their cell phones and interact with their computer keyboards. But then the
show's producers would not be able to make a cut of the text-messaging fees,
as they do now. Do younger viewers now see one-way broadcast television as
dull? Or are these interactive shows a sign that media companies are trying
to mix many kinds of media formats? Use your computer keyboard to let us
know what you think.
TextMeTV (watch the video) ---
http://chronicle.com/wiredcampus/index.php?id=3240&utm_source=wc&utm_medium=en
Bob Jensen's threads on tools and tricks of the trade are at
http://www.trinity.edu/rjensen/000aaa/thetools.htm
Missing Attribution in Controversial Book
A think tank is today publishing allegations that a
prominent, controversial book released by the University of Pennsylvania Press
about terror networks has two key passages that are plagiarized. While saying
that the allegations are overblown, the press director said via e-mail that
future editions would have attribution for the passages.The allegations come
from Public Eye, a publication of Political Research Associates, a progressive
think tank. Chip Berlet, a senior analyst for the group, makes the allegations
as part of a broader critique of a much discussed book called
Leaderless Jihad: Terror Networks in the Twenty-First
Century. Marc Sageman, the author and a
counter-terrorism consultant, argues in the book that too much of a focus on al
Qaeda misses the reality that terrorism has become decentralized, with various
groups being inspired more than directly led by those who plotted the mass
killings of 9/11. The book has received
extensive press coverage
and has been seen by many as significant.
Scott Jaschik, Inside Higher Ed,
July 28, 2008 ---
http://www.insidehighered.com/news/2008/07/28/leaderless
From the Financial Rounds Blog on July 28, 2008 ---
http://financialrounds.blogspot.com/
Is There Predictive Power In The Option-Implied
Volatility Smirk?
Apparently, the answer is yes. Xiaoyan Zhang (of
Cornell), Rui Zhao (of Blackrock Inc.), and Yuhang Xing (of Rice University)
recently conducted a study titled "What Does Individual Option Volatility
Smirk Tell Us about Future Equity Returns?" Here's their abstract (emphasis
mine):
The shape of the volatility smirks has
significant cross-sectional predictive power for future equity returns.
Stocks exhibiting the steepest smirks
in their traded options underperform stocks with the least pronounced
volatility smirks in their options by around 15% per year on a
risk-adjusted basis. This predictability persists for at least
six months, and firms with steepest volatility smirks are those
experiencing the worst earnings shocks in the following quarter. The
results are consistent with the notion that informed traders with
negative news prefer to buy out-of-the-money put options, and that the
equity market is slow in incorporating the information embedded in
volatility smirks.
Basically, they calculate the "volatility smirk"
(the difference between the implied volatility for At-The-Money (ATM) calls
and Out-of-The-Money (OTM) puts) for individual stocks. They then sort firms
into portfolios based on deciles of the smirk, and compare returns for the
various portfolios (or for "hedge portfolios" constructed by shorting the
"high smirk" decile and going long the "low smirk" decile) .
The logic for this approach is the hypothesis that informed traders with
negative news will choose to buy OTM puts, thereby causing a divergence in
the IV of the puts vs for the call.
All in all, a pretty cool paper showing how information flows across
markets. Given some work I'm doing with options data, I found it to be
particularly timely.
Read the paper (not free) at
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1107464
Read about "The Sardonic Smirk" at
http://econophysics.blogspot.com/2006/04/sardonic-smirk-volatility-smile-and.html
An important implication of a negatively skewed
volatility smile is that way out-of-the-money puts had market valuations
well beyond that predicted by Black-Scholes. There are two possible
explanations for this. The first explanation is that Black-Scholes is
correct and, thus, the market is incorrectly over-valuing these options.
This line of thinking is probably wrong since most people concede based on
mounting evidence -- not the least of which is the volatility smile itself
-- that the simplistic Black-Scholes option valuation model is flawed.
The better explanation is offered by Emanuel Derman in pp. 227-228 of his
book:
Anyone who was around on October 19, 1987
could easily guess why [low-strike puts are so relatively
expensive]. Ever since that day when equity markets around the world
plunged, investors remained constantly aware of the possibility of
an instantaneous large jump down in the market, and were willing to
pay up for protection. Out-of-the-money puts were the best and
cheapest insurance. Like stable boys who shut the barn door after
the horse bolted, investors who lived through the 1987 crash were
now willing to pay up for future insurance against the risks they
had previously suffered.
In other words, markets are doing what the
theorists had not done: attempting to price in the possibility of
catastrophic risk. Standard theories -- based on the framework of the
Gaussian / 'Normal' probability distribution -- tended to underestimate the
risk of the bottom falling out.
Lecture Capture Technology and Copyright Problems
July 28, 2008 message from Richard Campbell
[campbell@RIO.EDU]
Another "hat" I wear is a beta tester for Techsmith.
They have just announced another new product called
"Camtasia Relay Server" which is designed to facilitate the recording of
lectures and surveys, primarily by non-techies and seamlessly upload that
lecture to a web server, for rendering and serving up. See:
http://www.techsmith.com/camtasiarelay/sign-up/
My main concern - as I told Techsmith - is if the
server is owned by the University, who owns the intellectual property rights
to the professors' lectures??
Richard J. Campbell
mailto:campbell@rio.edu
July 28, 2008 reply from Bob Jensen
Hi Richard,
Copyright
ownership rights vary from college to college. Some universities (I think
South Dakota) even own the copyright to books that faculty write and all
lectures. Other universities lay no claims to faculty creations except in
the case of funded grants that significantly draw upon university resources
such as science and medical labs. Generally colleges are more aggressive
with faculty patents than they are with copyrights, but this varies greatly.
The place to
start is the Faculty Handbook in your college or university which in most
instances is now online (access may be restricted to faculty and staff). You
might also check the student handbook regarding student rights to captured
lectures, exams, etc. As Jagdish once pointed out to us, it’s not necessary
that a copyright be registered for the “owner” of intellectual property to
have copyright rights. It is wise to intellectual property right policy
section of every syllabus.
The big issue is
when students capture professors’ lectures (in video or audio) and then
serve them up on any server (including YouTube). I suspect faculty or
college administrators can actually sue students but this would probably be
advised only when financial or health damages such as mental breakdown are
substantial. Problems of having students capture and serve up lectures are
as follows:
1 This is a
form of plagiarism, but the lecturer or college itself must actually
find that the lecture has been plagiarized and is being made available
on some server. This in itself is difficult because the piece may keep
popping up. For example, the same video of a Barbara Streisand singing
“America” might appear on a dozen or more YouTube URLs. If notice is
given to YouTube to cancel one URL, the video may appear on three new
URLs the same day. Back where I grew up we just say “you can’t keep a
prairie dog from poppin’ up in another hole and another and another and
another and another.”
2. When
there is a copyright violation (in hard copy or online) standard
procedure is to request that the person cease and desist from making the
material available. Generally this alone will make the violator cease
and desist. The problem, however, is that hundreds of other users of the
material by now may have their own copies and may themselves serve it up
like an entire prairie dog colony in a pasture.
There’s a great
deal of information about copyright infringement (including on YouTube) at
http://www.howstuffworks.com/search.php?terms=copyright+violation&x=28&y=33
In terms of
capturing lectures, Apple Corporation may give the Camtasia Relay Server a
run for its money.
A patent application
filed by an Apple employee details software that would capture video and
slides from college lectures and automatically edit them into video
podcasts.
The application,
titled
“Automatic Content Creation and Processing,”
was
unearthed this month by AppleInsider. The
name on the patent application is Bertrand Serlet, Apple’s senior vice
president of software engineering. An Apple spokesman could not be reached
for comment Monday, but the company is notoriously tight-lipped about
products that are still in development.
Apple already runs a free
service called iTunes U that helps colleges around the country manage online
offerings, and several companies sell software that helps capture lecture
video and slides as well. One unusual feature described in the new patent
application, though, is the ability to determine automatically when to run
video footage of the professor speaking and when to splice in images of
lecture slides. As the patent application puts it, the software would
determine “a time to switch the first and second streams from the event
data.”
Many college officials are
looking for easy ways to record large numbers of lectures and offer video or
audio recordings to students. The goal is to capture and distribute lecture
podcasts without requiring professors or other staff members to perform
time-consuming editing or file management.
Bob Jensen's helpers on copyright issues are at
http://www.trinity.edu/rjensen/000aaa/theworry.htm#Copyright
Bob Jensen's video helpers are at
http://www.trinity.edu/rjensen/HelpersVideos.htm
Question
Have you checked to see if some student or fraternity has posted your tests
online?
Here's one place to look, but it's certainly not the only place to find your
tests online.
A Web site that invites students to post exam
answers online for others to view, PostYourTest.com, has eliminated the
ability of professors to request that tests from their courses be banned
from the site.
Posting answers made some professors worry that
students would use them to cheat on exams. Demir A. Oral, the operator of
the site, told The Chronicle
last
week that he allowed professors to place their
courses on a “Ban List” that would exclude their materials from the site. He
said that 200 professors had made such requests and he had complied.
But a
notice
on the site now says “the Ban List is suspended.” It
says that already-made ban requests will be honored. Professors must now
wait for content to be posted before requesting removal, and submit a form
stipulating that they own the copyright to the material and that their
request meets requirements of the Digital Millennium Copyright Act.
Jensen Comment
One place to start when you want to see if one of your examinations is online is
to see if it was "plagiarized?" ---
http://www.trinity.edu/rjensen/plagiarism.htm
Questions
Will you read the fine print on the menu before you order your Whopper or Fish
Sandwich?
More importantly will you lose 30 pounds because you read this fine print?
The argument for the New York City ordinance
(listing restaurant menu item calories and other details) thus comes down to the
argument for social experimentation generally: that it will yield valuable
information about the effects of public interventions designed to alter life
styles. I therefore favor the ordinance, though without great optimism that it
will contribute significantly to a reduction in obesity.
Richard Posner, "Compelled Disclosure of Food Characteristics," The
Becker-Posner Blog, July 27, 2008 ---
http://www.becker-posner-blog.com/
Requiring restaurants to post calorie content of
foods will have a negligible effect on demand for these foods because, as I
argue above, consumers are buying these foods not mainly because they are
ignorant of the effects on weight, but because of cheapness, convenience, and
taste. Banning fast food restaurants would have an effect by eliminating their
convenience. Still, substitutes would develop, such as prepared foods in
supermarkets, or fast foods served not in chains but in individually owned
restaurants (hostility to food chains is also partly responsible for the growth
of legislation against them). Maybe eventually some of these substitutes would
be banned too. Such continuing extensions of the power of government are a very
unattractive prospect. Given all the ineptitude in government regulation, as
reflected for example in the regulation of Freddie Mac and Freddie Mae, and in
other housing problems, I believe it is better to tolerate some mistakes by
consumers in their choice of foods. Such additional regulation of fast foods
will make people worse off in the long run as well as in the short run.
Nobel Laureate Gary Becker, "Compelled Disclosure of Food
Characteristics," The Becker-Posner Blog, July 27, 2008 ---
http://www.becker-posner-blog.com/
Question
What universities spend the most money recruiting athletes and what is
the trend on such recruitment spending?
Hint
Don't consider the top-ranked athletics programs at the University of
Southern California, Oklahoma, UCLA, Texas A&M, Kansas, or Stanford.
Nearly half of
the nation's largest athletics programs have doubled or tripled their
recruitment spending over the past decade, as their pursuit of elite
athletes intensifies and becomes more national in scope.
Libby Sander, "Have Money, Will Travel: the Quest for Top Athletes
Budgets soar, and so do coaches, as colleges beef up recruiting
efforts," Chronicle of Higher Education, August 1, 2008 ---
http://chronicle.com/weekly/v54/i47/47a00102.htm
TOP SPENDERS IN SPORTS RECRUITING
Athletics departments spent
much more on recruiting athletes in 2007 than they
did a decade earlier, with many NCAA Division I
programs doubling or tripling their recruiting
expenses. Here are the biggest spenders in each
division, along with the programs' rank in the
2007-8 U.S. Sports Academy Directors' Cup, which
measures athletics departments by division according
to their overall sports success.
|
DIVISION I-A
|
|
U. of Tennessee at Knoxville
|
$2,005,700
|
$1,419,400
|
$915,000
|
41%
|
119%
|
16
|
|
U. of Notre Dame
|
1,758,300
|
1,014,600
|
674,000
|
73
|
161
|
21
|
|
U. of Florida
|
1,451,400
|
1,097,300
|
665,000
|
32
|
118
|
6
|
|
Auburn U.
|
1,374,900
|
1,228,900
|
646,000
|
12
|
113
|
20
|
|
Kansas State U.
|
1,316,700
|
626,600
|
359,000
|
110
|
267
|
71
|
|
U. of Georgia
|
1,284,000
|
1,020,000
|
605,000
|
26
|
112
|
10
|
|
U. of Nebraska at Lincoln
|
1,275,000
|
925,300
|
826,000
|
38
|
54
|
31
|
|
U. of Arkansas at Fayetteville
|
1,259,700
|
749,000
|
506,000
|
68
|
149
|
24
|
|
Duke U.
|
1,245,300
|
592,500
|
378,000
|
110
|
229
|
19
|
|
Ohio State U.
|
1,236,800
|
691,200
|
522,000
|
79
|
137
|
11
|
|
U. of Illinois at Urbana-Champaign
|
1,203,500
|
512,400
|
472,000
|
135
|
155
|
34
|
|
U. of Texas at Austin
|
1,156,800
|
1,047,200
|
514,000
|
10
|
125
|
5
|
|
Syracuse U.
|
1,121,200
|
635,300
|
474,000
|
76
|
137
|
87
|
|
U. of Oklahoma at Norman
|
1,120,800
|
763,900
|
908,000
|
47
|
23
|
23
|
|
U. of Virginia
|
1,112,000
|
617,900
|
616,000
|
80
|
81
|
17
|
|
Georgia Tech
|
1,111,900
|
835,000
|
620,000
|
33
|
79
|
55
|
|
Michigan State U.
|
1,098,800
|
890,500
|
733,000
|
23
|
50
|
29
|
|
West Virginia U.
|
1,094,200
|
524,200
|
398,000
|
109
|
175
|
30
|
|
U. of Oregon
|
1,077,300
|
841,500
|
555,000
|
28
|
94
|
26
|
|
U. of Kentucky
|
1,056,100
|
706,700
|
589,000
|
49
|
79
|
36
|
|
Median for all Division I-A
|
632,600
|
499,000
|
371,500
|
36
|
82
|
--
|
|
DIVISION I-AA
|
|
Princeton U.
|
$941,000
|
$624,800
|
$282,000
|
51%
|
234%
|
60
|
|
Harvard U.
|
851,900
|
712,400
|
485,000
|
20
|
76
|
61
|
|
Columbia U.
|
778,000
|
477,000
|
328,000
|
63
|
137
|
135
|
|
Dartmouth College
|
774,700
|
708,000
|
464,000
|
9
|
67
|
132
|
|
Brown U.
|
757,200
|
425,700
|
534,000
|
78
|
42
|
103
|
|
Cornell U.
|
752,800
|
673,500
|
449,000
|
12
|
68
|
75
|
|
Yale U.
|
748,300
|
574,200
|
508,000
|
30
|
47
|
93
|
|
U. of Pennsylvania
|
643,600
|
420,400
|
374,000
|
53
|
72
|
79
|
|
U. of Massachusetts at Amherst
|
543,800
|
501,900
|
500,000
|
8
|
9
|
89
|
|
Colgate U.
|
452,300
|
445,000
|
249,000
|
2
|
82
|
166
|
|
Median for all Division I-AA
|
195,600
|
126,300
|
93,000
|
50
|
101
|
--
|
|
DIVISION I-AAA
|
|
Marquette U.
|
$521,600
|
$130,600
|
$139,000
|
299%
|
275%
|
197
|
|
Xavier U. (Ohio)
|
482,400
|
387,200
|
185,000
|
25
|
161
|
124
|
|
Boston U.
|
447,900
|
367,800
|
266,000
|
22
|
68
|
76
|
|
U. of Denver
|
426,400
|
343,600
|
n/a
|
24
|
n/a
|
47
|
|
St. John's U. (N.Y.)
|
412,600
|
153,900
|
188,000
|
168
|
119
|
114
|
|
Providence College
|
397,000
|
375,200
|
266,000
|
6
|
49
|
146
|
|
Wichita State U.
|
387,100
|
166,100
|
152,000
|
133
|
155
|
131
|
|
Saint Joseph's U. (Pa.)
|
351,300
|
95,800
|
97,000
|
267
|
262
|
237
|
|
U. of North Carolina at Charlotte
|
326,000
|
272,500
|
163,000
|
20
|
100
|
140
|
|
George Washington U.
|
323,800
|
337,000
|
320,000
|
-4
|
1
|
185
|
|
Median for all Division I-AAA
|
143,700
|
107,200
|
74,000
|
34
|
104
|
--
|
|
DIVISION II
|
|
U. of North Dakota
|
$272,900
|
$180,700
|
51%
|
10
|
|
Minnesota State U. at Mankato
|
210,400
|
155,400
|
35
|
3
|
|
St. Cloud State U.
|
164,700
|
210,700
|
-22
|
53
|
|
U. of Central Missouri
|
148,600
|
49,000
|
203
|
18
|
|
U. of Minnesota at Duluth
|
139,700
|
116,900
|
19
|
74
|
|
Northern Michigan U.
|
138,800
|
119,400
|
16
|
158
|
|
Michigan Technological U.
|
136,600
|
116,600
|
17
|
164
|
|
Northwest Missouri State U.
|
128,000
|
104,400
|
23
|
44
|
|
U. of Alaska at Anchorage
|
127,700
|
67,100
|
90
|
52
|
|
Abilene Christian U.
|
125,000
|
71,700
|
74
|
2
|
|
Median for all Division II
|
28,000
|
19,100
|
36
|
--
|
|
DIVISION III
|
|
New York U.
|
$181,400
|
$197,700
|
-8%
|
31
|
|
St. Lawrence U.
|
156,700
|
135,200
|
16
|
44
|
|
Rensselaer Polytechnic Institute
|
155,600
|
91,300
|
70
|
182
|
|
Hobart and William Smith Colleges
|
135,500
|
66,000
|
105
|
50
|
|
Union College (N.Y.)
|
119,600
|
95,800
|
25
|
84
|
|
Hope College
|
113,500
|
87,200
|
30
|
38
|
|
Christopher Newport U.
|
104,700
|
23,500
|
345
|
43
|
|
Hartwick College
|
102,200
|
53,300
|
92
|
267
|
|
Stevens Institute of Technology
|
97,500
|
71,500
|
36
|
80
|
|
Methodist U.
|
97,100
|
46,800
|
108
|
47
|
|
Median for all Division III
|
19,700
|
11,900
|
40
|
--
|
|
SOURCES: U.S. Department of
Education; Chronicle reporting
|
|
SPENDING INCREASES
Among elite athletics
programs, these five had the largest percentage
increases in recruiting spending in the past 10
years.
|
1. U. of Maryland at College Park
|
277%
|
|
2. Kansas State U.
|
267%
|
|
3. Louisiana State U. at Baton Rouge
|
248%
|
|
4. Duke U.
|
229%
|
|
5. West Virginia U.
|
175%
|
|
SOURCES: U.S. Department of
Education; Chronicle reporting
|
|
BIGGEST JUMPS IN RECRUITMENT SPENDING
The 65 biggest athletics
programs are members of the NCAAs six Bowl Championship
Series conferences. From 1997 to 2007, most of those
institutions significantly increased their recruiting
budgets. Below are the biggest movers among BCS programs
with football teams.
|
|
|
|
|
|
U. of Maryland at College Park
|
$912,100
|
$242,000
|
277%
|
|
Kansas State U.
|
$1,316,700
|
$359,000
|
267%
|
|
Louisiana State U. at Baton Rouge
|
$994,200
|
$286,000
|
248%
|
|
Duke U.
|
1,245,300
|
378,000
|
229%
|
|
West Virginia U.
|
$1,094,200
|
$398,000
|
175%
|
|
Texas Tech U.
|
$883,700
|
$323,000
|
174%
|
|
Indiana U. at Bloomington
|
$905,200
|
$341,000
|
165%
|
|
U. of Notre Dame
|
$1,758,300
|
$674,000
|
161%
|
|
U. of Illinois at Urbana-Champaign
|
$1,203,500
|
$472,000
|
155%
|
|
U. of Arkansas at Fayetteville
|
$1,259,700
|
$506,000
|
149%
|
|
WHICH
POWER CONFERENCE SPENDS THE MOST?
Below are the BCS conferences
ranked according to their 2007 spending.
|
|
|
|
|
|
Southeastern
|
$13,129,700
|
$6,639,000
|
98%
|
|
Big 12
|
11,538,200
|
6,663,000
|
73
|
|
Atlantic Coast*
|
10,748,200
|
4,401,000
|
144
|
|
Big Ten
|
10,134,600
|
5,792,000
|
75
|
|
Pacific-10
|
8,344,700
|
4,625,000
|
80
|
|
Big East*†
|
6,125,700
|
4,334,000
|
41
|
|
* In 2003 three Big East institutions -- Boston
College, Virginia Tech, and the University of
Miami -- joined the Atlantic Coast Conference.
The Big Easts 1997 recruiting expenses here
reflect its 1997 membership; the 2007 ACC totals
reflect the addition of the three institutions.
† Includes only the eight Big East institutions
that play football in the BCS.
|
|
|
July 28, 2008 reply from Paul Williams
[Paul_Williams@NCSU.EDU]
Bob,
Thank you for this info. I am on our faculty athletics council, so this is
something that falls within our purview. However, the real cost of
recruiting is facilities upgrade. UNC-CH is proposing another massive
expenditure to Kenan stadium after having spent nearly $60 million just a
few years ago. Luxury skyboxes, video scoreboards, and media capablility to
make sure there is not one moment of silence during the entire game. NC
State has spent nearly $300 million over the past dozen years building an
arena for basketball (and an NHL hockey franchise, which won the Cup in 2006
making it all worth it!) and major additions to the football stadium. One
condition that Duke's new football coach insisted upon was some commitment
to facilities. Kay Yow, coach of the Lady Wolfpack, describes it as an "arms
race." I wonder if the recruiting wars are in any way associated with the
urgency to get playing time out of young athletes who will play for a year
or two before entering the professional draft. NC State's top recruit two
years ago, J.J. Hickson, played his freshman year and entered the NBA draft.
That is a substantial blow to a program and it seems to happen with much
greater frequency.
From the Scout Report on August 8, 2008
ooVoo 1.7.1.35 ---
http://www.oovoo.com/
If you are in London and you have colleagues in New
London, Connecticut, what do you do? Well, you could try out this latest
iteration of ooVoo for starters. ooVoo 1.7.1.35 is a video conferencing and
chat tool that also allows users to record their video discussions and
conversations. This latest version includes a higher-resolution video chat
feature along with extensive support for social networking sites. This
version is compatible with computers running Windows 2000, XP, and Vista.
Skype 3.8.0.144 ---
http://www.skype.com/download/skype/windows/downloading/
International long-distance phone bills can be
rather costly, and Scout Report readers who haven't given the Skype
application a try may wish to do so now. This latest version allows users to
conduct conference calls with as many as nine people and it also includes a
browser plug-in that turns phone numbers on web pages into links that Skype
can automatically dial. This version of Skype is compatible with computers
running Windows 2000 and XP.
Skype vs. Vonage ---
http://electronics.howstuffworks.com/skype-vonage3.htm
Free online textbooks, cases, and tutorials in accounting, finance,
economics, and statistics ---
http://www.trinity.edu/rjensen/ElectronicLiterature.htm#Textbooks
Education Tutorials
Learning Resources
Wisc-Online: Online Learning Object Repository (multimedia) ---
http://www.wisc-online.com/
Bob Jensen's threads on general education tutorials are at
http://www.trinity.edu/rjensen/Bookbob2.htm#EducationResearch
Engineering, Science, and Medicine Tutorials
Nature Online Video Streaming Archive (multimedia) ---
http://www.nature.com/nature/videoarchive/index.html
Pakistan Research Repository ---
http://eprints.hec.gov.pk/
Against the Odds: Making a Difference in Global Health (multimedia) ---
http://apps.nlm.nih.gov/againsttheodds/index.cfm
Science and Technology ---
http://www.trinity.edu/~mkearl/science.html
Multiple Choice: From Sample to Product (video) ---
http://cooperhewitt.org/EXHIBITIONS/multiple_choice/site/?r=4-14-2008
Bob Jensen's threads on free online science,
engineering, and medicine tutorials are at ---
http://www.trinity.edu/rjensen/Bookbob2.htm#Science
Social Science and Economics Tutorials
The Carr Center for Human Rights Policy (multimedia) ---
http://www.hks.harvard.edu/cchrp/
Exploring Race (multimedia) ---
http://newsblogs.chicagotribune.com/race/
American Museum of Natural History: Division of
Anthropology ---
http://anthro.amnh.org/
Pakistan Research Repository ---
http://eprints.hec.gov.pk/
MAPLight.org (for a better understanding of politics and legislation) ---
http://www.maplight.org/
Christianity Missionary Archives
Internet Mission Photography Archive ---
http://digarc.usc.edu/impa/controller/index.htm
British Museum: Power and Taboo: Sacred Objects from the Pacific
http://www.britishmuseum.org/explore/online_tours/pacific/sacred_objects_of_the_pacific/power_and_taboo_sacred_ob.aspx
Bob Jensen's threads on Economics, Anthropology, Social Sciences, and
Philosophy tutorials are at
http://www.trinity.edu/rjensen/Bookbob2.htm#Social
Law and Legal Studies
MAPLight.org (for a better understanding of politics and legislation) ---
http://www.maplight.org/
Bob Jensen's threads on law and legal studies are at
http://www.trinity.edu/rjensen/Bookbob2.htm#Law
Math and Statistics Tutorials
New Math (Tom Lehrer)---
http://www.youtube.com/watch?v=a81YvrV7Vv8
Mathematics for Accounting
Research (Tom Lehrer) ---
http://www.youtube.com/watch?v=gfZWyUXn3So
(Watch until you are at or near the end of the video since it sort of has a
false ending.)
"Open Textbook Meets Community Colleges," by Andy Guess, Inside Higher
Education, August 12, 2008 ---
http://www.insidehighered.com/news/2008/08/12/connexions
Proponents of the open textbook movement have long
envisioned a world of free (or almost free) educational materials, available
to print or download
For one popular textbook, at least, that vision is
now a reality.
Connexions, a prominent online “open educational
resources” hub based at Rice University, announced Monday that it has
published a statistics textbook online that’s widely used in transfer-level
community college courses. Officials at the site hope the zero-dollar price
tag will help students deterred by ever-increasing textbook prices.
The book,
Collaborative Statistics by Barbara Illowsky and Susan Dean,
is not only available as a full download. The content between the covers has
been sliced and diced into “modules,” Connexions’ basic building blocks,
that any student or instructor can rearrange or adapt for their own use.
Developers of the project also plan on adding videos of class lectures by
Illowsky as well as other supplementary classroom materials, effectively
uploading an entire course experience to the Web.
Rice’s announcement says it is “believed to be the
first complete package of free textbook and course materials available
online in the United States.” (That’s an assertion that might be
challenged,
especially if the course materials are in the public domain already,
although most proponents of textbook reform would be pleased to see
competing claims on this topic.)
“This is a big deal for community colleges because
there are many students who can’t afford to go to school not necessarily
because of tuition but because of the costs of textbooks and what have you …
it really enhances their educational opportunities,” said Joel Thierstein,
Connexions’ executive director.
He expects “close to 1,000 students in the fall” to
be using the free version of the book in classes across the country. The
text has been used for over a decade in California community colleges in
courses accepted as transfer credits by the University of California system.
“We’re anticipating that this is just the very
first step of a project to provide a similar concept in other disciplines to
community college students for free as well, so this is a first step of
many,” Thierstein added.
The authors first reacquired the rights to their
book and published it themselves for a period, he said. More recently, the
rights were transferred to Rice, which obtained them with backing from the
Maxfield Foundation, which is chaired by an alumnus and trustee. Connexions,
which since 1999 has been a major resource for educators to upload, share
and collaborate on freely available class resources, now offers the textbook
content online under a Creative Commons license. Readers can also opt for an
on-demand printed version, priced at $31.95.
The textbook was published in coordination with the
Community College
Consortium for Open Educational Resources, a group of colleges across
the country started within the Foothill-De Anza
Community College District in California.
Community College Open-Textbook Project Gets Under Way
Especially note the open sharing sources being used
The Community College Open Textbook Project begins
this week with a member meeting in California," by Catherine Rampell,
Chronicle of Higher Education, April 29, 2008 ---
Click Here
At the meeting, representatives of institutions
around the country will start reviewing open-textbook models for “quality,
usability, accessibility, and sustainability,” according to a news release.
They will initially review four providers of free online educational
resources:
Connexions, run by Rice University;
Flat World Knowledge, a commercial
digital-textbook publisher that will begin
offering free textbooks online next year; the
University of California’s
UC College Prep Online, which offers Advanced
Placement and other courses online; and the
Community College Consortium for Open Educational Resources,
which was founded by the Foothill-De Anza Community College District and the
League for Innovation in the Community College.
The open-textbook project was paid for by a
$530,000 grant to the Foothill-De Anza Community College District from the
William and Flora Hewlett Foundation.
Connexions at Rice University ---
http://cnx.rice.edu/
"Really Open Source," by Scott Jaschik, Inside Higher Ed, July 29, 2005
---
http://www.insidehighered.com/news/2005/07/29/open
Few
projects in academe have attracted the attention and praise
in recent years of
OpenCourseWare, a program in which
the Massachusetts Institute of Technology is making all of
its course materials available online — free — for anyone to
use.
In the
four years since MIT launched the effort,
use of the courseware has
skyrocketed, and several other universities have created
similar programs, assembling material from their own
courses.
With
less fanfare than MIT, Rice University has also been
promoting a model for free, shared information that could be
used by faculty members and students anywhere in the world.
But the Rice program —
Connexions
— is different in key respects. It is assembling material
from professors (and high school teachers) from anywhere, it
is offering free software tools in addition to course
materials, and it is trying to reshape the way academe uses
both peer review and publishing. The project also has hopes
of becoming a major curricular tool at community colleges.
“I was
just frustrated with the status quo,” says
Richard G. Baraniuk, in explaining
how he started Connexions in 1999. “Peer review is severely
broken. Publishing takes too long and then books are too
expensive,” he says. “This is about cutting out the
middlemen and truly making information free.”
“I was just
frustrated with the status quo,” says Richard G. Baraniuk,
in explaining how he started Connexions in 1999. “Peer
review is severely broken. Publishing takes too long and
then books are too expensive,” he says. “This is about
cutting out the middlemen and truly making information
free.”
Baraniuk is
a professor of electrical and computer engineering at Rice,
so many of the initial modules (which can either be
materials for a course, a lecture or any other
organizational unit) were in engineering and were submitted
by Rice professors. But as Connexions has grown (from 200
modules in its second year to 2,300), it has attracted
content in many disciplines and from many scholars.
There are
materials for courses on art history, birds, business and
graphic design. Offerings are particularly strong in music.
And participating professors come from institutions
including Cornell, Indiana State and Ohio State
Universities, and the Universities of Illinois at
Urbana-Champaign and Wisconsin at Madison. Professors from
outside the United States have also started to use the site
— it offers materials from the Norwegian University of
Science and Technology and the University of Cambridge.
Use of
the materials has grown steadily — in May, more than 350,000
individuals used the site at some point, a mix of professors
and students, about half of them on return visits.
Continued in article
Bob Jensen lists other free online textbooks in various disciplines,
including accounting textbooks, cases, and free online tutorials, at
http://www.trinity.edu/rjensen/ElectronicLiterature.htm#Textbooks
Bob Jensen's threads on free online tutorials in various academic
disciplines are at
http://www.trinity.edu/rjensen/Bookbob2.htm#Tutorials
Jensen Comment
There are various free online mathematics and statistics textbooks linked at
http://www.trinity.edu/rjensen/ElectronicLiterature.htm#Textbooks
(Scroll Down)
The history of Rice University's Connexions open sharing initiative is
briefly described at
http://www.trinity.edu/rjensen/000aaa/updateee.htm#OKI
Bob Jensen's threads on free online mathematics tutorials are at
http://www.trinity.edu/rjensen/Bookbob2.htm#050421Mathematics
History Tutorials
Multiple Choice: From Sample to Product (video) ---
http://cooperhewitt.org/EXHIBITIONS/multiple_choice/site/?r=4-14-2008
National Gallery of Art ---
http://www.nga.gov/collection/index.shtm
National Gallery of Art: Videos & Podcasts ---
http://www.nga.gov/podcasts/
Irish Museum of Modern Art ---
http://www.modernart.ie/en/index.htm
American Geographical Society Library:
Tibet ---
http://www.uwm.edu/Library/digilib/tibet/index.html
American Museum of Natural History:
Division of Anthropology ---
http://anthro.amnh.org/
MAPLight.org (for a better understanding of politics and legislation) ---
http://www.maplight.org/
Christianity Missionary Archives
Internet Mission Photography Archive ---
http://digarc.usc.edu/impa/controller/index.htm
British Museum: Power and Taboo: Sacred Objects from the Pacific
http://www.britishmuseum.org/explore/online_tours/pacific/sacred_objects_of_the_pacific/power_and_taboo_sacred_ob.aspx
Louis L. McAllister Photographs ---
http://cdi.uvm.edu/collections/getCollection.xql?title=Louis L. McAllister
Photographs
NSF and the Birth of the Internet (video and slide show) ---
http://www.nsf.gov/news/special_reports/nsf-net/
How Internet Stuff Works ---
http://www.trinity.edu/rjensen/Bookbob4.htm#Web
Personal Computer History
"Forgotten PC history: The true origins of the personal computer --- The PC's
back story involves a little-known Texas connection," by Lamont Wood,
Computer World, August 8, 2008 ---
Click Here
This year marks an almost
forgotten 40th anniversary: the conception of the device that ultimately
became the PC. And no, it did not happen in California.
For decades, histories have traced the
PC's x86 lineage back to 1972, with
Intel Corp.'s introduction of the 8008 chip, the
8-bit follow-on to the 4-bit 4004, itself introduced in 1971 and remembered
as the world's first microprocessor
(download PDF).
But the full story was not that simple. For one
thing, the x86's lineage can be traced back four additional years, to 1968,
and it was born at a now-defunct firm in San Antonio. The x86 was originally
conceived by an all-but-forgotten engineer, Austin O. "Gus" Roche, who was
obsessed
with making a personal computer. For another thing,
Intel got involved reluctantly, and the 8008 was not actually derived from
the 4004 -- they were separate projects.
Industrial designer John "Jack" Frassanito, head of
John Frassanito & Associates Inc., a
NASA contractor in Houston, remembers wincing
while plans for the device were drawn by Roche on perfectly good tablecloths
in a private club in San Antonio in 1968. He was then a young account
manager for legendary designer Raymond Lowey (who did the Coke bottle and
the Studebaker Avanti, among other things). Frassanito was sent to Computer
Terminal Corp. in San Antonio to help design CTC's first product, an
electronic replacement for the Model 33 Teletype. CTC had been recently
founded with local backing by former NASA engineers Phil Ray and Roche.
After arriving in San Antonio -- where he soon
joined CTC's staff -- Frassanito said that he quickly discovered that the
teletype-replacement project was merely a ruse to raise money for the
founders' real goal of building a personal computer.
A hidden agenda
"When writing the business plan, they decided to
stay away from the notion of a personal computer, since the bankers they
were talking to had no idea what a computer was or wasn't," Frassanito
recalled. "So for the first product, they needed something they could get
off the ground with existing technology. But the notion from the get-go was
to build a personal computer firm."
The resulting terminal, the Datapoint 3300,
established CTC as a going concern, and planning began on the project that
Frassanito realized was Roche's obsession. He remembers lengthy discussions
with Roche about what a personal computer should do and look like. Roche
often expressed himself using metaphors from various classics, such as
Machiavelli's The Prince, which Frassanito found necessary to read.
To ensure a market for the machine, Frassanito said
that the CTC founders decided to promote it (with appropriate programming)
as a replacement for the IBM 029 card punch machine, and they gave it a
half-height display to match the aspect of an
IBM punch card. To
keep it from being intimidating in an office, they gave it the same
footprint as an IBM Selectric typewriter.
The resulting compact enclosure had heat problems,
and in late 1969 and early 1970, the designers began looking for ways to
reduce the number of components, including reducing the CPU board to one
chip.
The start of Intel's involvement
Frassanito recalled accompanying Roche to a meeting
with Bob Noyce, head of Intel, in early 1970 to try to get Intel -- then a
start-up devoted to making memory chips -- to produce the CPU chip. Roche
presented the proposed chip as a potentially revolutionary development and
suggested that Intel develop the chip at its own expense and then sell it to
all comers, including CTC, Frassanito recalled.
"Noyce said it was an intriguing idea, and that
Intel could do it, but it would be a dumb move," said Frassanito. "He said
that if you have a computer chip, you can only sell one chip per computer,
while with memory, you can sell hundreds of chips per computer."
Nevertheless, Noyce agreed to a $50,000 development contract, Frassanito
recalled.
Frassanito's recollection of Noyce's negative
reaction is echoed in the transcript of a group interview done in September
2006 at the
Computer History Museum in Mountain View, Calif.
(download PDF). The group included six people who
were involved in the development or marketing of Intel's first CPU chips:
Federico Faggin, Hal Feeney, Ed Gelbach, Ted Hoff, Stan Mazor and Hank
Smith. They agreed that Intel's management at the time feared that if Intel
put a CPU chip in its catalog, the computer vendors that were Intel's
customers for memory chips would see Intel as a competitor and go elsewhere
for memories.
That fear, they indicated, was evident as late as
1973. The group also recalled that work was suspended on the CTC chip,
called the 1201, in the summer of 1970 after CTC lost interest, having
decided to go ahead with a CPU board using transistor-transistor-logic (TTL)
circuits instead of relying on a chip-based design. TTL is the level of
integration that preceded microcircuits, where a chip might have tens of
transistors rather than thousands.
Continued in article
Bob Jensen's threads on history tutorials are at
http://www.trinity.edu/rjensen/Bookbob2.htm#History
Also see
http://www.trinity.edu/rjensen/ElectronicLiterature.htm
Language Tutorials
Bob Jensen's links to language tutorials are at
http://www.trinity.edu/rjensen/Bookbob2.htm#Languages
Writing Tutorials
Bob Jensen's helpers for writers are at
http://www.trinity.edu/rjensen/Bookbob3.htm#Dictionaries
Updates from WebMD ---
http://www.webmd.com/
"Doctors may have found a way to destroy HIV," by Lee McGuire, Fox
News, July 30, 2008 ---
http://www.fox11az.com/news/topstories/stories/NWkmsb20080730_hiv_breakt-hrough.1971ecbd.html
Is Alzheimer’s a convenient way of forgetting that you're married?
"Being single might raise risk for Alzheimer’s later in life, studies show."
by John Fauber, JS Online, July 31, 2008 ---
http://www.jsonline.com/story/index.aspx?id=778325
Middle-aged married people who worry a lot have at
least one thing to look forward to: Their risk of eventually developing
Alzheimer's disease may be significantly less than carefree people of the
same age who remain single.
That's the take-home message from two studies
presented jointly Wednesday in Chicago at the International Conference on
Alzheimer's Disease.
One study followed 1,449 men and women in Finland
for an average of 21 years. It found that those who had a partner in midlife
were about 50% less likely to develop dementia in late life - ages 65 to 79
- than those who lived alone.
The second study involved 2,604 middle-aged men in
Israel who were followed for as long as three decades.
Surprisingly, those who usually ruminated about
work or family matters were significantly less likely to develop dementia
when they were older than those who usually were able to forget about their
difficulties.
For instance, about 21% of those who typically were
able to forget about family problems eventually developed dementia, compared
with 14% of those who usually ruminated about family issues. Similar rates
were found with rumination over work issues.
Researchers are not sure why a tendency to ruminate
would reduce the risk of developing dementia, although one possibility is
that those people are constantly planning for their problems which, in turn,
gives them more brain power later in life, said lead author Ramit Ravona-Springer,
a physician with the Sheba Medical Center in Israel.
Continued in article
Liberal Lawyers Know More Than Psychiatrists: Or Do They?
"A Death in the Family Aided by advocates for the mentally ill, William Bruce
left the hospital -- only to kill his mother," by Elizabeth Berstein and Nathan
Koppe, The Wall Street Journal, August 16, 2008; Page A1
On June 20, 2006, William Bruce approached his
mother as she worked at her desk at home and struck killing blows to her
head with a hatchet. Two months earlier, William, a 24-year-old
schizophrenic, had been released from Riverview Psychiatric Center in
Augusta, Maine, against the recommendations of his doctors. "Very dangerous
indeed for release to the community," wrote one in William's record.
But the doctor's notes also show that William's
release was backed by government-funded patient advocates. According to
medical records, the advocates -- none of them physicians -- appear to have
fought for his right to refuse treatment, to have coached him on how to
answer doctors' questions and to have resisted the medical staff's efforts
to contact his parents. As one doctor wrote, William told him his advocates
believed he is "not a danger, and should be released."
William's father, Joe Bruce, obtained his son's
medical records from Riverview eight months after the killing. "I read
through the records and I just remember crying all the way through," Joe
Bruce says. "My God, these people knew exactly what they were sending home
to us."
Helen Bailey, one of William's advocates, declined
to discuss the details of his case but says the handling of it was
consistent with her professional duties. "My job is to get the patient's
voice into the mix where decisions are made," says Ms. Bailey, an attorney
with Maine's Disability Rights Center in Augusta. "No matter how psychotic,
that voice is still worthy of being heard. I have not had the person who is
so out of it that they can't communicate what they want." She added that the
records reflect the doctors' perception of what happened.
The story of William Bruce -- based on medical
records made available to The Wall Street Journal -- as well as interviews
with relatives, doctors, advocates and hospital administrators brings into
sharp focus the impact of a little-known government-funded advocacy program
for psychiatric patients.
Attempt to Curb Abuses
MORE
A Father's Call for Help: Excerpts from 911 call. •
AmyBruce.org Congress created the national Protection and Advocacy for
Individuals with Mental Illness program, or PAIMI, in 1986 to curb abuse and
neglect of the mentally ill, primarily in institutions. In the 1960s and
1970s, many abuses were uncovered at hospitals, where patients were
physically restrained, neglected or overmedicated.
The PAIMI program, operated by the Substance Abuse
and Mental Health Services Administration with a 2008 budget of $34.8
million a year, funds protection-and-advocacy agencies in each state.
Typically nonprofits, these groups sometimes receive supplemental funding
from states. According to a 2007 SAMHSA report, the agencies served 19,000
people in 2006.
Some doctors, hospital administrators and
mental-health veterans argue that advocates are endangering the mentally ill
and the public by too often fighting for patients' right to refuse
treatment. Many advocates "have a strong bias," says Robert Liberman, a
director of a psychiatric rehabilitation program at the University of
California, Los Angeles.
"I don't know if they are doing people a service
when they assert the right of mentally-ill individuals to remain psychotic,"
says Ron Honberg, director of policy and legal affairs for the National
Alliance on Mental Illness, an education, support and advocacy group.
Proponents of patient advocates say they're
essential to protecting the rights of the mentally ill. The National
Disability Rights Network, which provides lobbying and other services for
the patient-advocacy system, says advocates play a critical oversight role.
Continued in article
Medicine and Medical History
The Wellcome Library: Turning The Pages (video) ---
http://library.wellcome.ac.uk/ttp.html
Forwarded by Herta
The Charlie Schulz Philosophy
The following is the philosophy of Charles Schulz, the creator of the
'Peanuts' comic strip.
You don't have to actually answer the questions.
Just read the e-mail straight through, and you'll get the point.
1. Name the five wealthiest people in the world.
2. Name the last five Heisman trophy winners.
3. Name the last five winners of the Miss America pageant.
4. Name ten people who have won the Nobel or Pulitzer Prize.
5. Name the last half dozen Academy Award winners for best actor and actress.
6. Name the last decade's worth of World Series winners.
How did you do?
The point is , none of us remember the headliners of yesterday.
These are no second-rate achievers.
They are the best in their fields.
But the applause dies.
Awards tarnish.
Achievements are forgotten.
Accolades and certificates are buried with their owners.
Here's another quiz. See how you do on this one:
1. List a few teachers who aided your journey through school.
2. Name three friends who have helped you through a difficult time.
3. Name five people who have taught you something worthwhile.
4. Think of a few people who have made you feel appreciated and special!!
5. Think of five people you enjoy spending time with.
Easier?
The lesson:
The people who make a difference in your life are not the ones with the most
credentials.
the most money...or the most awards.
They simply are the ones who care the most.
Pass this on to those people who have made a difference in your life, like I
did.
'Don't worry about the world coming to an end today. It's already tomorrow in
Australia!'
''Be Yourself. Everyone Else Is Taken!'
Forwarded by Maureen
One day a farmer's donkey fell down into a well. The animal cried piteously
for hours as the farmer tried to figure out what to do.
Finally, he decided the animal was old, and the well needed to be covered up
anyway; it just wasn't worth it to retrieve the donkey.
He invited all his neighbors to come over and help him. They all grabbed a
shovel and began to shovel dirt into the well. At first, the donkey realized
what was happening and cried horribly. Then, to everyone's amazement he quieted
down.
A few shovel loads later, the farmer finally looked down the well. He was astonished at what he saw. With each shovel of dirt that hit his back, the donkey
was doing something amazing. He would shake it off and take a step up.
As the farmer's neighbors continued to shovel dirt on top of the animal, he
would shake it off and take a step up.
Pretty soon, everyone was amazed as the donkey stepped up over the edge of
the well and happily trotted off!
Life is going to shovel dirt on you, all kinds of dirt. The trick to getting
out of the well is to shake it off and take a step up. Each of our troubles is a
steppingstone. We can get out of the deepest wells just by not stopping, never
giving up! Shake it off and take a step up.
Forwarded by Paula
A man boarded a plane with 6 kids. After they got settled in their seats a woman sitting across the aisle from him leaned over to him and asked, "Are all of those kids yours?"
He replied, "No. I work for a condom company. These are customer complaints.
Forwarded by Auntie Bev
Classified Advertisements in Florida
FOXY LADY:
Sexy, fashion-conscious blue-haired beauty, 80's, slim, 5'4' (used to be 5'6'),
searching for sharp-looking, sharp-dressing companion. Matching white shoes and
belt a plus.
LONG-TERM COMMITMENT:
Recent widow who has just buried fourth husband, and am looking for someone to
round out a six-unit plot. Dizziness, fainting, shortness of breath not a
problem.
SERENITY NOW:
I am into solitude, long walks, sunrises, the ocean, yoga and meditation. If you
are the silent type, let's get together, take our hearing aids out and enjoy
quiet times.
WINNING SMILE: Active grandmother with original teeth seeking a dedicated
flosser to share rare steaks, corn on the cob and caramel candy .
BEATLES OR STONES?
I still like to rock, still like to cruise in my Camaro on Saturday nights and
still like to play the guitar. If you were a groovy chick, or are now a groovy
hen, let's get together and listen to my eight-track tapes.
MEMORIES:
I can usually remember Monday through Thursday. If you can remember Friday,
Saturday and Sunday, let's put our two heads together.
MINT CONDITION:
Male, 1932, high mileage, good condition, some hair, many new parts including
hip, knee, cornea, valves. Isn't in running condition, but walks well.
Tidbits Archives ---
http://www.trinity.edu/rjensen/TidbitsDirectory.htm
Click here to search Bob Jensen's web site if you have key words to enter ---
Search Site.
For example if you want to know what Jensen documents have the term "Enron"
enter the phrase Jensen AND Enron. Another search engine that covers Trinity and
other universities is at
http://www.searchedu.com/
World Clock ---
http://www.peterussell.com/Odds/WorldClock.php
Facts about the earth in real time --- http://www.worldometers.info/
Interesting Online Clock
and Calendar
---
http://home.tiscali.nl/annejan/swf/timeline.swf
Time by Time Zones ---
http://timeticker.com/
Projected Population Growth (it's out of control) ---
http://geography.about.com/od/obtainpopulationdata/a/worldpopulation.htm
Also see
http://users.rcn.com/jkimball.ma.ultranet/BiologyPages/P/Populations.html
Facts about population growth (video) ---
http://www.youtube.com/watch?v=pMcfrLYDm2U
Projected U.S. Population Growth ---
http://www.carryingcapacity.org/projections75.html
Real time meter of the U.S. cost of the war in Iraq ---
http://www.costofwar.com/
Enter you zip code to get Census Bureau comparisons ---
http://zipskinny.com/
Sure wish there'd be a little good news today.
Three Finance Blogs
Jim Mahar's FinanceProfessor Blog ---
http://financeprofessorblog.blogspot.com/
FinancialRounds Blog ---
http://financialrounds.blogspot.com/
Karen Alpert's FinancialMusings (Australia) ---
http://financemusings.blogspot.com/
Some Accounting Blogs
Paul Pacter's IAS Plus (International
Accounting) ---
http://www.iasplus.com/index.htm
International Association of Accountants News ---
http://www.aia.org.uk/
AccountingEducation.com and Double Entries ---
http://www.accountingeducation.com/
Gerald Trite's eBusiness and
XBRL Blogs ---
http://www.zorba.ca/
AccountingWeb ---
http://www.accountingweb.com/
SmartPros ---
http://www.smartpros.com/
Bob Jensen's Sort-of Blogs ---
http://www.trinity.edu/rjensen/JensenBlogs.htm
Current and past editions of my newsletter called New
Bookmarks ---
http://www.trinity.edu/rjensen/bookurl.htm
Current and past editions of my newsletter called
Tidbits ---
http://www.trinity.edu/rjensen/TidbitsDirectory.htm
Current and past editions of my newsletter called Fraud
Updates ---
http://www.trinity.edu/rjensen/FraudUpdates.htm
Online Books, Poems, References,
and Other Literature
In the past I've provided links to various types electronic literature available
free on the Web.
I created a page that summarizes those various links ---
http://www.trinity.edu/rjensen/ElectronicLiterature.htm
Shared Open Courseware
(OCW) from Around the World: OKI, MIT, Rice, Berkeley, Yale, and Other Sharing
Universities ---
http://www.trinity.edu/rjensen/000aaa/updateee.htm#OKI
Free Textbooks and Cases ---
http://www.trinity.edu/rjensen/ElectronicLiterature.htm#Textbooks
Free Mathematics and Statistics Tutorials ---
http://www.trinity.edu/rjensen/Bookbob2.htm#050421Mathematics
Free Science and Medicine Tutorials ---
http://www.trinity.edu/rjensen/Bookbob2.htm#Science
Free Social Science and Philosophy Tutorials ---
http://www.trinity.edu/rjensen/Bookbob2.htm#Social
Free Education Discipline Tutorials ---
http://www.trinity.edu/rjensen/Bookbob2.htm
Teaching Materials (especially
video) from PBS
Teacher Source: Arts and
Literature ---
http://www.pbs.org/teachersource/arts_lit.htm
Teacher Source: Health & Fitness
---
http://www.pbs.org/teachersource/health.htm
Teacher Source: Math ---
http://www.pbs.org/teachersource/math.htm
Teacher Source: Science ---
http://www.pbs.org/teachersource/sci_tech.htm
Teacher Source: PreK2 ---
http://www.pbs.org/teachersource/prek2.htm
Teacher Source: Library Media ---
http://www.pbs.org/teachersource/library.htm
Free Education and
Research Videos from Harvard University ---
http://athome.harvard.edu/archive/archive.asp
VYOM eBooks Directory ---
http://www.vyomebooks.com/
From Princeton Online
The Incredible Art Department ---
http://www.princetonol.com/groups/iad/
Online Mathematics Textbooks ---
http://www.math.gatech.edu/~cain/textbooks/onlinebooks.html
National Library of Virtual Manipulatives ---
http://enlvm.usu.edu/ma/nav/doc/intro.jsp
Moodle ---
http://moodle.org/
The word moodle is an acronym for "modular
object-oriented dynamic learning environment", which is quite a mouthful.
The Scout Report stated the following about Moodle 1.7. It is a
tremendously helpful opens-source e-learning platform. With Moodle,
educators can create a wide range of online courses with features that
include forums, quizzes, blogs, wikis, chat rooms, and surveys. On the
Moodle website, visitors can also learn about other features and read about
recent updates to the program. This application is compatible with computers
running Windows 98 and newer or Mac OS X and newer.
Some of Bob Jensen's Tutorials
Accountancy Discussion ListServs:
For an elaboration on the reasons you should join a
ListServ (usually for free) go to http://www.trinity.edu/rjensen/ListServRoles.htm
AECM (Educators)
http://pacioli.loyola.edu/aecm/
AECM is an email Listserv list which
provides a forum for discussions of all hardware and software
which can be useful in any way for accounting education at the
college/university level. Hardware includes all platforms and
peripherals. Software includes spreadsheets, practice sets,
multimedia authoring and presentation packages, data base
programs, tax packages, World Wide Web applications, etc
Roles of a ListServ ---
http://www.trinity.edu/rjensen/ListServRoles.htm
|
CPAS-L (Practitioners)
http://pacioli.loyola.edu/cpas-l/
CPAS-L provides a forum for discussions of
all aspects of the practice of accounting. It provides an
unmoderated environment where issues, questions, comments,
ideas, etc. related to accounting can be freely discussed.
Members are welcome to take an active role by posting to CPAS-L
or an inactive role by just monitoring the list. You qualify for
a free subscription if you are either a CPA or a professional
accountant in public accounting, private industry, government or
education. Others will be denied access. |
Yahoo
(Practitioners)
http://groups.yahoo.com/group/xyztalk
This forum is for CPAs to discuss the activities of the AICPA.
This can be anything from the CPA2BIZ portal to the XYZ
initiative or anything else that relates to the AICPA. |
AccountantsWorld
http://accountantsworld.com/forums/default.asp?scope=1
This site hosts various discussion groups on such topics as
accounting software, consulting, financial planning, fixed
assets, payroll, human resources, profit on the Internet, and
taxation. |
Business Valuation
Group
BusValGroup-subscribe@topica.com
This discussion group is headed by Randy Schostag
[RSchostag@BUSVALGROUP.COM] |
Many useful accounting sites (scroll down) ---
http://www.iasplus.com/links/links.htm
Professor Robert E. Jensen (Bob)
http://www.trinity.edu/rjensen
190 Sunset Hill Road
Sugar Hill, NH 03586
Phone: 603-823-8482
Email:
rjensen@trinity.edu