Who are the wealthiest people in the US and where did they get their money? Half of the top 20 are from the computer industry and 9 of the top 25 are family heirs.
Four Waltons (stores) $80B, Gates (Microsoft) $59B, two Kochs (energy) $50B, three Mars (candy) $41B, Buffett (conglomerate) $39B, Ellison (Oracle) $33B
These few distort the numbers so greatly because their wealth is so great. Over a quarter trillion dollars with just that handful of people. Add the next bunch and there is another quarter trillion dollars. The top 25 added together are worth over half a trillion dollars.
The technology folks make up half of the top twenty and are all new wealth, made from working for a living. Their hard work and ideas created hundreds of thousands of jobs. Jeff Bezos $19B, Sergey Brinn $16.7B, Mark Zuckerberg $17.5B, Larry Page $16.7B, Michael Dell $15B, Steve Balmer $13.9B, Paul Allen $13.2B. Steve Jobs is way down the list with only $7B. Facebook produced 5 billionaires, Microsoft at least three and hundreds of millionaires. Apple also produced at least 300 millionaires.
Only 4 of the top 25 richest people in America made it from investing - Buffett companies and stocks, Soros and Paulson hedge funds, and Icann leveraged buyouts. Buffett and Soros are in their 80s, Kochs are 75, Mars are in their 70s and 80s.
It is difficult to estimate how many millions of people are employed by these few and how many lives have been made better by them. Difficult to fault them for being wealthy when we buy their stock, which accounts for the vast majority of their wealth.
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Nov 5, 2011
Nov 1, 2011
Explosive Pumpkin Carving
This is very interesting video of a teacher showing how to carve a pumpkin instantly using gas. It is only 45 seconds long. LINK
Earmarks and Pork Barrels
Earmarks are defined as "Provisions associated with legislation that specify certain congressional spending priorities or in revenue bills that apply to a very limited number of individuals or entities."
Pork Barrel usually refers to "Spending that is intended to benefit constituents of a politician in return for their political support, either in the form of campaign contributions or votes." It supposedly originated in a pre-Civil War practice of giving slaves a barrel of salt pork as a reward and requiring them to compete among themselves to get their share of the handout.
Both terms are derogatory and used interchangeably. Either are requested by only one chamber of Congress; not specifically authorized; not competitively awarded; and serve only a local or special interest. Below are a few examples.
$1,800,000 was earmarked for a climate model evaluation program. This is on top of the $2 Billion in stimulus money for the climate science program, and another half a billion in stimulus money that the White House directed to global warming. I am getting warm just thinking about it.
Pork Barrel usually refers to "Spending that is intended to benefit constituents of a politician in return for their political support, either in the form of campaign contributions or votes." It supposedly originated in a pre-Civil War practice of giving slaves a barrel of salt pork as a reward and requiring them to compete among themselves to get their share of the handout.
Both terms are derogatory and used interchangeably. Either are requested by only one chamber of Congress; not specifically authorized; not competitively awarded; and serve only a local or special interest. Below are a few examples.
$1,800,000 was earmarked for a climate model evaluation program. This is on top of the $2 Billion in stimulus money for the climate science program, and another half a billion in stimulus money that the White House directed to global warming. I am getting warm just thinking about it.
Online Dictionary
If you use Firefox to read newspapers and other articles online, there is a great tool to help. Highlight a word that you do not understand, and a little question mark appears above the word. Just click on it and you will be taken to a dictionary with that word defined. Technology is great.
Oct 29, 2011
Happy Friday
Who has never tasted what is bitter does not know what is sweet.
I have made it past Monday and am enjoying the sweetness of a Happy Friday!
I have made it past Monday and am enjoying the sweetness of a Happy Friday!
Birthdays Revisited
I was reminded that last week, when I listed the famous people born on October 18, in Friday Thoughts, I missed at least one. Bill MacFarlane, a friend, business associate, and regular reader. Today Mac is even older than he was last week.
Fluffernutter
I was reading a quote from Joe Biden, “So all this stuff is like so much Fluffernutter out there.” Since I had not heard the term, went to see what he meant.
A fluffernutter is a sandwich made with peanut butter and marshmallow creme. Its name comes from the common use of "Marshmallow Fluff" brand marshmallow creme. It is popular in the Northeastern United States, where Joe is from, and has been proposed as the official Massachusetts state sandwich.
It is made by spreading peanut butter on a slice of bread then spreading an equal amount of some kind of marshmallow (small, large or cream) on another slice, and combining them together to form a sandwich. "Fluffernutter" is a registered trademark of Durkee-Mower Inc., the maker of "Marshmallow Fluff" brand marshmallow creme.
A fluffernutter is a sandwich made with peanut butter and marshmallow creme. Its name comes from the common use of "Marshmallow Fluff" brand marshmallow creme. It is popular in the Northeastern United States, where Joe is from, and has been proposed as the official Massachusetts state sandwich.
It is made by spreading peanut butter on a slice of bread then spreading an equal amount of some kind of marshmallow (small, large or cream) on another slice, and combining them together to form a sandwich. "Fluffernutter" is a registered trademark of Durkee-Mower Inc., the maker of "Marshmallow Fluff" brand marshmallow creme.
Second Hand TV
Speaking of fluffernutter, some researchers are warning about the dangers of watching TV when very young children are nearby. Recent findings suggest that even casual exposure to TV can harm child development and undermine parent-child interactions.
One study said parents are distracted by TV the same way preschoolers are. Another recent study found that children who watched a short cartoon showed a reduced ability to delay gratification and poorer working memory. I have some language for them, secondhand science is harmful to real science.
One study said parents are distracted by TV the same way preschoolers are. Another recent study found that children who watched a short cartoon showed a reduced ability to delay gratification and poorer working memory. I have some language for them, secondhand science is harmful to real science.
Internet is Growing
If you ate a doughnut a second for the rest of your life you would not grow as fast as the internet. There was more data transmitted over the Internet in 2010 than the entire history of the Internet through 2009.
There are currently 4 billion connected devices around the world, Intel expects that number to increase to 15 billion by 2015 and 50 billion by 2020.
Wow - 48 hours of YouTube videos are uploaded each minute, 200 million tweets sent per day and 7.5 billion photos uploaded to Facebook each month. Also, think about the billions of spams sent each day and billions of emails.
It used to be that the internet added the equivalent of the entire Library of Congress every fifteen minutes and now it does so in less than half that time, and 24 hours a day. I like to think I am doing my share by adding these postings, just to keep the world from taking itself too seriously.
There are currently 4 billion connected devices around the world, Intel expects that number to increase to 15 billion by 2015 and 50 billion by 2020.
Wow - 48 hours of YouTube videos are uploaded each minute, 200 million tweets sent per day and 7.5 billion photos uploaded to Facebook each month. Also, think about the billions of spams sent each day and billions of emails.
It used to be that the internet added the equivalent of the entire Library of Congress every fifteen minutes and now it does so in less than half that time, and 24 hours a day. I like to think I am doing my share by adding these postings, just to keep the world from taking itself too seriously.
Say Cheese
The Center for Retail Research claims that cheese is the world's most frequently stolen food and it has been labeled a "high risk food." There is growing interest in the more expensive cheese such as Parmesan. Next in line as most stolen are fresh meat, chocolate, alcohol, seafood, and infant formula.
Overall, retail 'shrinkage', which includes theft is up to $119 billion in 2011, up 6.6% since 2010. 35.9% of retailers reported that actual and attempted shoplifting rose last year and 24% had higher employee theft. Shoplifters are highest in the Asia pacific and Europe. Organized crime theft is highest in the US.
Almost four percent of the world's cheese supply ends up stolen, putting cheese on top of the list. Shoplifting rates as a whole are going up, because of the current economic situation. Now we can say with certainty that shoplifting is a cheesy crime.
Overall, retail 'shrinkage', which includes theft is up to $119 billion in 2011, up 6.6% since 2010. 35.9% of retailers reported that actual and attempted shoplifting rose last year and 24% had higher employee theft. Shoplifters are highest in the Asia pacific and Europe. Organized crime theft is highest in the US.
Almost four percent of the world's cheese supply ends up stolen, putting cheese on top of the list. Shoplifting rates as a whole are going up, because of the current economic situation. Now we can say with certainty that shoplifting is a cheesy crime.
SIRI
The new voice application for the iPhone that was just announced is very cool, but do you remember that Feb 26, 2010 Friday Thoughts, I told you it was coming. Wow, what a long gestation. Also, Android phones have had voice response for a long time.
Oct 26, 2011
Canned Food Day
Darn, I missed it a few days ago. We eat what we can and what we can’t we can. Nicolas Appert probably didn't say that, but he did invent the canning process. I know Campbell's likes him.
He was born in Chalons-Sur-Marne, France and was destined to become a great chef and confectioner -- and chemist and inventor. In 1809 the French government awarded Appert with twelve thousand francs for his contribution to the world.
Nicolas Appert had, in his search to preserve food, invented a process of heating foods and sealing them in airtight containers. In 1812 he was bestowed with the title, Benefactor of Humanity. We still use his methods of food preservation today!
Also, can't forget another invention of Appert’s: the bouillon cube.
He was born in Chalons-Sur-Marne, France and was destined to become a great chef and confectioner -- and chemist and inventor. In 1809 the French government awarded Appert with twelve thousand francs for his contribution to the world.
Nicolas Appert had, in his search to preserve food, invented a process of heating foods and sealing them in airtight containers. In 1812 he was bestowed with the title, Benefactor of Humanity. We still use his methods of food preservation today!
Also, can't forget another invention of Appert’s: the bouillon cube.
Rubic's Cube
Just a quick video of a computer, powered by a phone solves a Rubic's cube in just over 5 seconds.It beat the human record of 5.65 seconds. LINK I love technology.
Fast Computer
A new computer, K, built by Fujitsu and located in Kobe, Japan, represents a giant leap forward in speed.
The latest ranking of the top 500 computers is determined by running a standard mathematical equation. The winning computer was able to make 8.2 quadrillion calculations per second, or in more technical terms, 8.2 petaflops per second. It makes thousands of calculations faster than you can say calculation.
The performance of K is equivalent to linking about one million desktop computers. Supercomputers are used for earthquake simulations, climate modeling, nuclear research and weapons development and testing, among other things.
The fastest computer in the United States, at Oak Ridge National Laboratory, in Oak Ridge, Tenn., placed third.
The latest ranking of the top 500 computers is determined by running a standard mathematical equation. The winning computer was able to make 8.2 quadrillion calculations per second, or in more technical terms, 8.2 petaflops per second. It makes thousands of calculations faster than you can say calculation.
The performance of K is equivalent to linking about one million desktop computers. Supercomputers are used for earthquake simulations, climate modeling, nuclear research and weapons development and testing, among other things.
The fastest computer in the United States, at Oak Ridge National Laboratory, in Oak Ridge, Tenn., placed third.
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