Ernesto becomes a hurricane before landfall in Mexico

CANCUN/CHETUMAL, Mexico (Reuters) - Ernesto strengthened into a hurricane on Tuesday just hours before making landfall on the southern part of the Yucatan peninsula in Mexico, home to popular tourist destinations.

Ernesto had top sustained winds of 80 miles per hour and was located 185 miles east of Chetumal, Mexico, the U.S. National Hurricane Center in Miami said in its 2:00 p.m. EDT advisory.

"I am only going to pack up my things but will not evacuate. Streets do flood but the water comes down quickly," said street vendor Rita Lopez, 46, as some light rain sprinkled Chetumal. "This is normal, I don't think this one is going to hit very hard."

Ernesto is forecast to arrive in the southern Gulf of Mexico, where state oil company Pemex has port facilities and offshore platforms, late on Wednesday. Pemex has said it was keeping an eye on the hurricane but there were no reports of evacuations or shipping restrictions.

Earlier on Tuesday, authorities from the Mexican state of Quintana Roo ordered the evacuation of some 1,500 people in the southern portion of the state, known for its scuba diving and eco-tourism attractions.

"These are just precautionary measures," said worker Francisco Velazquez, who led a group of five men wearing raincoats and wielding hammers and nails as they boarded windows at a government office in Chetumal.

While the eye of Ernesto is not expected to hit the region's major resort of Cancun, some rain fell in the area, which is packed with local and international visitors this time of the year.

Cancun, some 230 miles to the north of the storm's forecast path, was devastated in 2005 by Hurricane Wilma, the most intense storm ever recorded in the Atlantic.

"The center of Ernesto is forecast to move across the Yucatan peninsula late tonight and early Wednesday, and emerge over the Bay of Campeche by Wednesday afternoon or evening," the NHC said.

Hurricane warnings were extended northwards to the resort island of Cozumel from Chetumal and include the entire coast of low-lying Belize. A tropical storm warning remained in effect for the Atlantic coasts of Honduras and Nicaragua.

Mexico's top airline Aeromexico canceled a late flight to the Chetumal airport on Tuesday and one more Wednesday morning due to the bad weather, the company's regional office said.

One cruise ship which was due to dock at Cozumel on Wednesday canceled its visit and another was diverted to Veracruz, in the Gulf of Mexico.

Heavy rain hit northern Honduras early Tuesday but there were no reports of damage.

Rainfall of four to eight inches, and possibly 12 inches in some areas, were expected over Belize and the southern portions of the Yucatan peninsula.

Belize's government said 175 residents of outlying islands had voluntarily moved to safer ground, and five emergency shelters were being set up to house evacuees.

August and September are usually the most active months of the Atlantic-Caribbean hurricane season, which runs from June 1 to November 30.

(Additional reporting by Gustavo Palencia on Tegucigalpa, Mike McDonald in Guatemala City and Cyntia Barrera in Mexico City; Editing by Krista Hughes and Eric Walsh)

Source: http://news.yahoo.com/ernesto-strengthens-takes-aim-mexicos-yucatan-012421417.html

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Comeback Kid Curiosity: Symbol of a New NASA?

Pasadena, Calif.?NASA engineers built the Mars Science Laboratory, Curiosity, here at the Jet Propulsion Lab in Pasadena. And they watched as it streaked towards the surface of Mars, unable to do anything but monitoring the spacecraft?s actions more than 2 million miles away.

After each successful part of the mission, the comforting word came from mission control: "We?ve got heartbeat tones." These beeps meant the spacecraft-turned-aircraft was still healthy. The applause grew more intense with every milestone. NASA was going to pull it off: landing a 1-ton robot on the surface of Mars, set down gently by a parachute/crane/retrorocket combination that seemed one part genius one part Rube Goldberg. But it worked perfectly, and Curiosity is in business on Mars. The joy was more than relief?it was rapture.

The rover, like the last few NASA sent to Mars, is already well down the road to being anthropomorphized. It?s a hard-luck kid, suffering a costly two-year delay and facing a seemingly crazy entry and descent scheme to reach the surface. Yet the scientists here have exuded calm confidence all day. MSL?s chief engineer,? Rob Manning, told PM, "I'm calmer than I've been in years, because we're done."

It was up to the robot?and it came through, huge. By the time the first images on the surface?low resolution images of the rover?s wheel?beamed to earth, the blue-shirts in mission control were already ecstatic.? When the images appeared, pure joy radiated from the room.

Eyes welled with tears. NASA was back on Mars. The agency has been wounded by the loss of its only human flight spacecraft (the space shuttle) and has no solid exploration plan beyond an underfunded trip to an unnamed asteroid at an unknown date. But NASA has a mascot in this robot (MSL?s redemption makes it even more loveable) and it may give direction to the seemingly adrift agency.

The new NASA conducts high-risk interplanetary probes and monitors Earth with satellites. The new NASA enables private companies to build their own hardware and hires them to ferry astronauts into orbit. The new NASA handles marquee missions that answer big questions. And maybe, one day, send NASA astronauts to Mars.

Curiosity?s work has just started: There has never been an interplanetary explorer that can do the kind of chemistry and analysis that MSL can perform. At stake are the answers to some huge questions. Did Mars have conditions that could support life? Did a cosmic impact send organic material to Earth... making us all Martians? And if there is life on two planets in the same solar system, how can we pretend it does not exist elsewhere in the universe?

NASA?s work has just started, too. How it uses this success of this?the most challenging exploration mission ever attempted?to shape its future is yet to be seen. Despite the elation over landing Curiosity safely, NASA faces serious cuts to planetary science, on the order of 20 percent. Given budget constraints and a lack of solid plans in the works, NASA?s future is a lot more murky than Curiosity?s.

Source: http://www.popularmechanics.com/science/space/nasa/comeback-kid-curiosity-symbol-of-a-new-nasa-11397156?src=rss

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Olympic tennis: Del Potro takes bronze in men's singles

London, Aug 5

Juan Martin del Potro won the first medal of the London Olympics for Argentina beating Serbia?s Novak Djokovic in their bronze medal match here Sunday.

Both players had six break points throughout the match, but second seed Djokovic missed all of his as he lost 7-5, 6-4.

The Olympic bronze is the second success for the 23-year-old at major tournaments after his victory at the US Open in 2009.

Source: http://www.prokerala.com/news/articles/a318715.html

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Floor Covering Together with Area Rugs ? Better Home Improvement

Floor covering is very essential in virtually any home configurations. As a result, many individuals make effort trying to get the top floor covering for homes. Rugs provide the best floor covering substance due to their top quality and durability. Nonetheless, many people are facing problems when selecting an appropriate rug for their household of commercial employ. The choice to a location rug significantly determines the particular service the merchandise is expected to present and its timeframe. When choosing a hair piece for both family or perhaps office employ, it is extremely beneficial to consider the next factors.

Material

Before coming to a decision about the specific sort of area rug, you need to purchase first consider the material which is used to build an item. The material drastically determines the number of years the product is expected to corrode. For example, a hair piece made of elementary and fragile fabric will have fewer numerous years of service than the one having a stronger textile.

Color appearance

Apart from providing protective purposes area rugs may also be used for decorative purposes. An ideal rug assortment should match the house or perhaps room shade. Due to this purpose, when selecting a hair piece for your home think about the colors you have painted the wall and your furniture to counteract color clashing in your area.

Cost

Area rug cost is mainly dependant on the type of materials used to result in the product, the item design, the item demand as well as the manufacturing business. When selecting a location rug it essential to assess the quality of the product or service and then analyze to find if the cost is deserving or not. Very poor product evaluation normally brings about regrets and also losses following the product is ruined or out from the use. In simple phrase, we can say that the price of an area rug should be directly proportional for the service which is expected from the product.

Size

Finally, when deciding on an area area rug it also advisable to have in mind the measurement other the product you want. This kind of prevents the particular abnormalities of purchasing under dimensions or over size products whi8ch cause customers? unhappiness.

Benefits

There are numerous benefits that are for this use of . First when using these, one is capable of protect his/her residence floor from any damage. For example, furniture along with sharp angles may scarp non protected flooring causing damages. However, the protected flooring is certainly protected against this form of damage as well. Another benefit consists of the improved physical appearance of a place. When effectively selected, these people significantly increase a room physical appearance and make a room beautiful and presentable. Third, when used in a house that they improve the house comfort. As an example, due to their solid materials, that they act as insulators and also prevents the floor from obtaining cold. Additionally they enhance motions on a smooth floor minimizing possible accidents in the event of a great accidents because of the smooth masking.

This entry was posted on August 6, 2012 at 3:30 am. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Posted in Home Improvement by Edgar

Source: http://betterhomeimprovement.org/floor-covering-together-with-area-rugs/

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Obama was informed of Wisconsin Sikh temple shooting: White House

WASHINGTON (Reuters) - President Barack Obama was informed of the deadly shooting spree at a Sikh temple in Wisconsin, on Sunday, a White House official said.

John Brennan, Obama's counterterrorism adviser, notified him of the shooting and the president was continuing to receive updates on the incident in suburban Milwaukee, the official said. At least seven people were dead, including a gunman, and at least three critically wounded, local police and hospital officials said.

(Reporting by Matt Spetalnick; Editing by Jackie Frank)

Source: http://news.yahoo.com/obama-informed-wisconsin-sikh-temple-shooting-white-house-200230932.html

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The Theory of Investment Value: Four Enduring Takeaways on ...

Today?s historically low interest rates and investors? flight to safety have combined to raise interest in dividend-paying stocks. While studies of the efficacy of dividend-investing strategies have been mixed (see?Fama and French 1988?and?Ang and Bekaert 2006), dividend investing remains a popular strategy. Indeed, this heightened enthusiasm is reflected in the performance of dividend-paying stocks, which have handily outpaced broad market indices over the past year. As such, it only seems appropriate to revisit an investing classic that first provided investors with a theoretical framework for determining the intrinsic value of stocks based on their dividends:?John Burr Williams??The Theory of Investment Value.

Just as Benjamin Graham is considered to be the father of value investing, John Burr Williams rightfully deserves to be recognized as the progenitor of dividend investing. The influence of his seminal work, first published in 1938, has been widespread, and today the book remains as relevant as ever.

Here are four of the most important takeaways:

1. Focus on Dividends, Not Earnings.?

Williams was a security analyst who sought a better understanding of what caused the stock market crash of 1929 and the subsequent Great Depression. He enrolled as a PhD student at Harvard, and his thesis, which was to explore the intrinsic value of common stock, was published as?The Theory of Investment Value.? Breaking with commonly held beliefs at the time, the crux of Williams? theory was that the intrinsic value of a company was equal to the present value of its future dividends, not earnings. ?Earnings are only a means to an end,? Williams argued, ?and the means should not be mistaken for the end. Therefore, we must say that a stock derives its value from its dividends, not its earnings. In short, a stock is worth only what you can get out of it.?

He illustrated this concept with a poem:

A cow for her milk

A hen for her eggs,

And a stock, by heck,

For her dividends.

An orchard for fruit,

Bees for their honey,

And stocks, besides,

For their dividends.

In a review of Williams? book published in?The Journal of Political Economy, Ben Graham, alluding to the speculative atmosphere pervasive on Wall Street at the time, wrote: ?The emphasis on the primacy of dividends and the insistence that the value of reinvested earnings is to be found only in increased dividends sound a much-needed warning to Wall Streeters.?

For companies without dividends, Williams theorized that all retained earnings should ultimately become dividends. Upon maturity, a company should begin distributing its earnings as dividends. Williams wrote: ?If earnings not paid out in dividends are all successfully reinvested, then these earnings should produce dividends later; if not, then they are money lost. In short, a stock is worth only what you can get out of it.?

2. Investment versus Speculation.?

Williams shared many of?Graham?s views?when it came to drawing a distinction between investing and speculating. Williams defined an investor as ?a buyer interested in dividends, or coupons and principal,? and a speculator as ?a buyer interested in the resale price? alone. Williams thought the volatility of the stock market did not accurately reflect the capacity of companies to pay dividends, and he saw the 1929 stock market crash as ?a serious indictment of past practice? of investment analysis. He asserted that if there had been agreement among analysts regarding the ?proper criteria of value,? the wild price swings experienced in the crash and its aftermath might have been avoided. With his book, Williams hoped to encourage more true investing and less speculation.

Despite the stock market?s volatility, both Williams and Graham took issue with the ?casino capitalism? theory espoused by John Maynard Keynes in his famous?General Theory of Employment, Interest, and Money?(1936), which pointed, critically, to the boom and bust cycles of stocks. ?It is usually agreed that casinos should, in the public interest, be inaccessible and expensive,? Keynes wrote,??And perhaps the same is true of Stock Exchanges.? In contrast, Williams and Graham both saw the benefits of free markets but, importantly, also the need for rigorous analysis in the determination of intrinsic value.

3. Lasting Influence.?

Among the first to advocate for a theory of valuation based on?discounted cash flow, Williams referred to his forecasting approach as ?algebraic budgeting,??and he undoubtedly influenced the thinking of some of the greatest investment theoreticians and practitioners of the past century.

In fact, Williams? work provided the theoretical foundation for what became the?Gordon growth model, named after Myron J. Gordon. In??Dividends, Earnings, and Stock Prices??(1959), Gordon wrote: ?The distinguished theoretical book on investment value by J.B. Williams contains several chapters devoted to the application of the theory, but his empirical work is in the tradition of the investment analyst?s approach.?

And?Warren Buffett, in Berkshire Hathaway?s 1992 Annual Report, wrote the following: ?In?The Theory of Investment Value, written over 50 years ago, John Burr Williams set forth the equation for value, which we condense here: The value of any stock, bond, or business today is determined by the cash inflows and outflows?discounted at an appropriate interest rate?that can be expected to occur during the remaining life of the asset.? Though Buffett may have tweaked Williams? theory slightly, his investment success serves as a testament to the validity of Williams? work.

4. On Government, Socialism, and Taxes.?

Williams was not a fan of big government. In a chapter titled ?Taxes and Socialism,? he made clear his belief that government was a poor steward of the economy. Williams argued that taxes were a drag on savings, investment, earnings, and ultimately, the value of securities. In Williams? view, government deficits carried with them the threat of higher taxes, and ?the mere prospect of higher taxes is sufficient to discourage investment in capital goods.? Williams further warned that the redistributive nature of excessive taxation, and government control of key industries, would put the United States on a path toward socialism.

Politics aside, Williams and?The Theory of Investment Value?offer timeless lessons on the concept of intrinsic value, the importance of dividends, and the value of a long-term perspective. In an era of heightened volatility and low investment returns, these lessons are more important than ever.

---

Please note that the content of this site should not be construed as investment advice, nor do the opinions expressed necessarily reflect the views of CFA Institute.

Source: http://blogs.cfainstitute.org/investor/2012/08/03/dividend-investing-and-the-lasting-influence-of-john-burr-williams-the-theory-of-investment-value/

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Don't Make the Mistake of Buying Cruise Insurance from a Travel ...

Taking that incredible cruise holiday can be a get-away of a life time. Depending upon the length together with where your cruise will take you it might be quite a cost. Furthermore, you will likely plan it way in advance. And so the question you have to ask yourself is just how large a risk taker are you? This is a fundamental dilemma with regards to whether or not you will protect that investment.

A luxury cruise is a different type of travel. For most people we are going to require airline travel scheduled to get us to the port we are going to sail from. Now everybody knows how undependable flights can be. Are you prepared to risk missing your ship?s departure and then have to spend more cash struggling to catch it? What if you make the cruise ship however your baggage does not? It can be a lot more complicated to get that baggage brought to you if you?re on a cruise ship. What happens if you get sick on board and have to be evacuated to a land based hospital? It is not low cost.

The thing is that when it comes to cruise travel, good travel insurance protection might be more important than ever. That trip cancellation insurance is important. You ought to have excellent medical travel insurance too ? particularly if you are a senior traveling. Your Medicare insurance doesn?t cover you when you are traveling outside the U.S.

Consequently the issue ends up being where would you head to pick the cruise insurance you should have? Certainly in the event you utilized a travel agent to book your cruise trip they likely offered you an option of purchasing a basic travel insurance plan. For those who booked directly with a cruise line most should have a travel policy for purchase from them.

If they did offer it do not buy it. You can likely find much better deals both in terms of cost as well as insurance coverage readily available somewhere else. There are numerous travel insurance packages on the market. There is lots of competition. This is definitely great for you. Do not just take what is recommended before you?ve got the chance to assess what else can be purchased.

Consider this. The travel agency receives a commission. That tells you what is going to drive just what plan is offered. The cruise line probably won?t insure you against its own financial default. The thing is shop around. If you are vacationing with children certain packages will insure your children free of charge.

To find the best deal you will want to check on the web and see what?s available. It?s easy to do. Once you see what you want, you can purchase it immediately. When you want to begin searching, try to make a fairly complete listing of the kind of coverages that will be important to you. By browsing through a number of popular policies you will discover the sorts of coverages they feature and the alternatives that you can purchase as upgrades for extended travel benefits.

Have a look at a travel insurance comparison site like http://buyingtravelinsurance.org. Just by keying in just a few specifics about the cost of the cruise together with who?ll be traveling with you, it?ll bring back a number of competitive quotes to evaluate. But remember this. Prior to making your final choice, look at the detail statement of coverage for those programs that interest you. This is actually the best way to know for certain what is included together with other limits and exclusions. Then make your purchase and you will be set to experience that magnificent cruise vacation worry free.

This entry was posted by admin on August 4, 2012 at 8:26 pm under Uncategorized. You can leave a response, or trackback from your own site. Follow any responses to this entry through the RSS 2.0 feed.

Source: http://cc-ie.net/mistake-buying-cruise-insurance-travel-agent-cruise-line/

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