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A year from now at this time in February 2026 we will have the Winter Olympics in the Italian Alps in Milan-Cortina. In the Alps in Italy stretching all the way to the Swiss and Austrian borders. This is a large mountainous region. The Washington Post takes a look at this region. The trip between venues can take 12 hours by train and bus. The 2026 Winter Olympis to reduce cost is being done by instead of building facilities to use 7 mountain villages in Italy reached only by narrow winding roads and need trips that will take many hours. This is a huge logistics effort moving athletes and people around.

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Motoko Rich provides this exceptional report from Seoul on what could happen if war breaks out on the Korean peninsula. Experts point to location as a major risk. About half of the South Korean people live within 50 miles of the Demilitarized Zone that separates North from South Korea. Seoul with its 10 million people is in this 50 mile range. North Korea has 8000 artillery canon and rocket launchers near the border. As a result Seoul would become a major casualty in a war even if it did not escalate to nuclear weapons. A bigger danger is that it would be very hard to stop such a war once it started. And the North Korean regime is seen by experts as likely to resort to nuclear weapons if it feels it is in danger of collapsing. Here Rich also shows that the people in the South have largely ignored preparing for such a situation even though the Seoul Metropolitan government says it can keep all ten million people in 3300 bomb shelters in the city, with another 3700 run by the provincial government. The chaos that would occur is another danger as most people are unprepared. ...

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There are serious serious flaws with the FDA regulations for weight loss pills and dietary supplements. THe law enacted in 1994 gives the FDA jurisdiction only after the pills go on the market whereas for drugs they get reviewed first. THe re is only aspot checking of manufacturers and distributors once the pills are on the dshelves or on the internet. THe FDA believes there may be hundreds of contaminated weight loss diet supplements. Says Michael Levy director of the FDA's deivision of New Drugs and Labeling Compliance, alarge percentage of these products contain dangerous undeclared ingredients. Even after the products are on the market the FDA does not have thability to remove pills from stores, initially the law allows that its upto the companies to issue arecall. It is only eventually that the FDA can act and it does not have the resources to deal with this problem. This even though these ingredients can cause heart atttacks, seizures, and all kinds of health problems. About $27 billion are spent on dietary supplement, $1.7 billion on weight loss pills, and 15% of the population say they have used weight loss supplements, and most have not told their doctors about it. ...

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The FDIC had $19 billion in its fund that insures consumer's deposits at the end of 2008. A bill in Congress by Christopher Dodd, the Senate Banking Committee chairman, gives the FDIC access to $500 billion till the end of 2010 if the Fed, the President and Treasury secretary support that, and $100 billion without that approval. The FDIC proposed raising the fees banks pay into the deposit insurance fund to buildup the fund, that has been depleted by bank bailouts like the one at IndyMac which cost $10 billion. But banks protested because it comes at a time when bank's are already in a bad condition. Under a 1991 law the FDIC can borrow from the Treasury amaximum of $30 billion. The access to $500 billion is meant to let the FDIC act as another source of funds to address systemic risks that arise in the future, in addition to the $700 billion already approved by Congress for that purpose. In an interview Sheila Bair, head of the FDIC, said that a change in the law would "ease the mechanics of how seamlessly we can access our lines of" funding. I'm the kind of person who likes to be prepared for all contingencies."...

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Is there a lesson in this for the Detroit automakers who have too many dealerships. See related article on the dealership numbers for the Big Three vs. the like of Toyota and Honda. Deere has gone from 3400 dealerships to 2984 dealerships, down 12% in ten years since 1996, so it appears to be a gradual decline, and dealerships are consolidating with stronger partners, or selling out to stronger partners. The number of owners has shrunk at a much faster pace. (Why are auto dealerships able to take this to the courts and not Deere dealerships, as is mentioned in the related auto dealership article? ) Much of this reflects search for improved profitability and stability in a very cyclical industry. Fewer distribution outlets owners and better management of inventory, better parts service with better techically trained staff, and bringing new technology and designs to improve the revenue generating capacity of each machine by reducing demand for expensive labor, is a shrewd way of managing this business. A $100 million dealer organization can better service what is becoming a high tech product, a better hire technically trained people, and better manage inventory. With this setup Deere probably can better manage production to match demand and not let inventory clutter the dealer lots for discounted clearence. ...

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Frederick Taylor's engineering time standards for each activity are back now in retailing with H.B. Maynard now called OWO a company that devises engineered labor standardsfor every activity in the cashier line, from greeting to scanning and bagging. The idea is to monitor performance based on these standards. OWO says its methods can cut costs for labor by 5% to 15%. Stores like Limited, Gap, ToyR Us, TJX, Nike, Meijer supermarkets and others use them. If a cashiers falls below 95% of the standard he is watched by a manager and then he receives counselling, after which he may be transferred to a lowerpaying job or fired. Those who cannot handle the stress leave after a year or so on the job. Has OWO considered the impact on older customers who may simply decide not to shop at Meijer as cashiers may end up rushing them. Has it considred the impact on customers who now may not be looked in the eye with a friendly face. There is less talk between cashiers and it can speed up the line but wait there are fewer cashiers now so the waiting time may not change much as the whole idea is to cut labor costs by 5-10%. ...

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Laurent Berger, head of the French Confederation of Labor, C.F.D.T., is a moderating force in France as president Macron leads an effort to make a revision to France's labor code. With a large parliamentary majority president Macron is expected to push for a shift to a Scandinavian version of "flexible security," that allows companies and the economy to adjust the work force, introduce retraining and create flexibility so that new jobs can be created. His union is now the largest, after surpassing the militant General Confederation of Labor. Issues in labor changes proposed by president Macron are- direct negotiations between management and employees bypassing unions, and a cap to compensation in unfair dismissal cases. Berger's view is that though the interests of labor and management conflict, there has to be dialogue instead of constant confrontation. He is willing to see some jobs lost if business creates new jobs with improvement in the economy. Macron has summoned labor leaders for marathon talks. ...

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Varghese George of The Hindu provides this analysis of the elctions in Madhya Pradesh, Rajasthan and Chhatisgarh.  He points out that primeminister Modi's own popularity may have prevented a worse result. There are questions about how much Hindutva politics will play a part in 2019 elections and the role Yogi Adityanath plays after campaigning in this election. There is alo a question of how the opposition can unite if the Congress party becomes an alternative to the BJP, and the lack of any particular leader in the non-Congress opposition. How will the campaign take shape in the 2019 election in which a national election without the local incumbency politics and local issues makes a national focus emerge between competing visions for the future- that of the Congress and the BJP. And how these visions are articulated and not lost in the clamour and din of political wrangling particularly in the case of the BJP's focus on development that pushed it forward in the last election. ...

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FR24 looks at the work of Didier Deschamps in building a good French National team. Karim Benzema was back, with Mbappe, Griezman, Pogba, for the first time during the European championships. Deschamps takes the French team into the World Cup in 2024 without Benzema and by turning Griezman and Giroud into players who can take the place of Benzema and Pogba out from injuries. He was the youngest captain at 24 to win the Champions team title for a French club Marseille in 1993, and he brings experience that goes back 30 years as player and coach.

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Spain's Repsol accepts $5 billion in a settlement with Argentina for its stake in YPF nationalized by the government. Argentina will pay Repsol dollar denominated bonds with market value of at least $4.67 billion. Repsol can sell the debt at any time.

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Central Huijin, part of China's sovereign wealth fund, China Investment Corporation, bought shares of China's four major banks in October 2011 to prevent steep price declines. China's bank stocks have lost about a third of their value in 2011. The four major banks- China Construction Bank, Agricultural Bank of China, Bank of China, and the Industrial and Commercial Bank of China- control two-thirds of the banking industry in China. In China's interlocking system of relationships between the state, the banks and the state controlled industrial companies, Central Huijin owns 35.4% of Industrial and Commercial Bank, 67.6% of Bank of China, and similiar stakes in the other 2 banks. It was created in 2003 to bail out China's banks after bad loan losses, and was transferred to China Investment Corporation in 2007. As part of the 2007 move bonds were issued by CIC to compensate the central bank. This means the banks pay dividends to CIC so that it can make payments on the bonds. Today the 4 major banks pay half of their earnings in dividends to CIC. CIC chief Lou Jiwei, says Central Huijin needs 300 million renminbi a day, or $47 million to pay interest on the bonds to the central bank. The 4 major banks are also under pressure from China's regulators to increase their capital reserves, because of large bad loans to local governments after the global financial crisis of 2008....

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Andy Kessler looks at the prospects for China's effort to dominate the market for advanced chips used in everyday devices, just as it did in solar panels and electric vehicle batteries.  He says Apple leaves US manufacturing technologies at a disadvantage by securing its M1 processor chip from Taiwan's TSMC. Intel has fallen behind in 10 nanometer chips and will need a few years says Kessler.  Kessler says Chinese threat to invade Taiwan which has made the US and the EU take a firmer stand on Ukraine poses a danger to TSMC which has 5 fabs or factories in just 1 science Park- Hsinchu Science Park. This poses a question is it safe to concentrate about 92% of the world's semiconductor production in one place Taiwan so close to the mainland of China? And knowing sit tight taking no action? Google's last chairman Eric Schmidt asks this question in the WSJ and calls for a new investments in the US to manufacture advanced semiconductors and other semiconductors for everyday use so that the US national security is protected. Even the $50 billion that is in Congressional legislation has yet to be approved by the US Congress, says Schmidt, showing that US Congress is not moving quickly to address this problem. South Korea and Taiwan including TSMC need to be told to make a large part of the semiconductors in the US and other locations such as India to diversify production. 92% of world semiconductors made in Taiwan that could be taken out with a few missiles, is no way to diversify manufacturing, when manufacturing can be done in India or other parts of the world with lower costs and with needed engineering manpower. ...

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PM makes a point at G7- should not the 1.4 billion people of India most of whom are poor have the same access to energy as the people in the rich countries of the G7? It is to ensure this access to energy for the over 1 billion people in India that India has sourced oil from all countries when geopolitical tensions have made the price of oil to jump to new highs. Modi told a session at the G7 meetings- "All of you will also agree with this that energy access should not be the right of the rich only- a poor family also has the same right to energy. And today when energy prices are sky high due to geopolitical tensions, it is more important to remember this thing." Modi said that it was by "taking inspiration from this principle" that "we delivered LED bulbs and cooking gas door to door in India and showed that millions of tons of carbon emissions can be saved while ensuring energy for the poor." Never before in history has this been done on this scale as hundreds of millions of women have benefitted in poor areas where cooking was done by burning wood, and electricity did not exist. Water by tap water in every home, cooking gas, and electricity are now within the reach of every family in India.  Has G7 even thought of these things? And of the scale of the challenge that is being met and the future challenges for climate, technology and health that are being tackled on an unprecedented scale? ...

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Grim warning from chief scientific and medical advisors to the British government that we are not through this yet, there is more ahead. Without strong action there could be 200 deaths a day and 50,000 cases a day, says Sir Patrick Valance, chief scientific adviser. Tens of thousands of deaths could happen in the winter and there is little prospect that restrictions can be lifted for the next 6 months. The chief medical officer to the government says if we do too little the virus is going to take off. Sir Patrick Valance said at a joint appearance with Whitty in Downing Street that if the virus doubles in 7 days, then if we have 5000 cases a day, it would be 10,000 the next week, 20,000 the next week and 40,000 a day the week after. In a month we could be near 50,000 a day. The vaccine the advisors said may be available to small groups by the end of 2020, only in the first half of 2021 will it be a likely scenario of it being available in widespread way. On protection they say most of us are not protected only about 6-8% may be protected in the hope that immunity is gained by having been infected and developing antibodies. We have to deal with it collectively for the next 6 months as it is now growing across the whole country, not just in some places or environments. Doing too little is dangerous and could let it take off speedily and affect hospitals again, doing too much so that unemployment is affected and poverty social deprivation happens is also to be kept in mind. ...

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The head of the European Centres for Disease Control ECDC, Dr. Andrea Ammon, says the Delta variant of the coronavirus will make up 70% of all cases in Europe by early August, and 90% of all cases by the end of August. ECD modeling shows that there is a risk of another wave like the one after last summer in Europe. The Delta variant is much more infectious than the UK Alpha variant and the UK variant much more infectious than the original variant. A 50% reduction in non-pharmaceutical interventions such as allowing the staging of events would lead to an increase in infection in all age groups. Latest ECDC data show 34% of people in Europe fully vaccinated and 57% with one dose. One dose offers much less protection. Younger individuals have a lower vaccination rate and are vulnerable. Also vulnerable are the older people not vaccinated yet. About 40% of people over 60 are not yet vaccinated, and 30% of people over 80 years are not yet vaccinated in the European Union. As in the US vaccination varies by region within the EU. All these vulnerable groups can be affected in another wave of the coronavirus similar to after last summer when restrictions were removed. Dr. Ammon is a former advisor to the German government. She says it is important for young people who are not vaccinated to continue to follow the strict social distancing precautions.  This is not happening today as governments are relaxing mask mandates in Britain, France and Spain. Soccer games are coming back to fan filled stadiums increasing the risk. Tourist spots in Portugal and Greece are now looking similar to the vacation spots in Croatia that increased infections in Europe after summer 2020. ...

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Anne Applebaum describes the seriousness of the problem on internet trolls spreading information and disinformation to create confusion. Her proposal is that individuals take responsibility, and be able to post on media sites only after taking individual responsibility, no psuedonyms, no anonymity allowed considering the danger of such activity. Applebaum points to the effects shown of such comments following an article in media publications, which can influence the reader to actually doubt the content of reliable and well informed journalism.

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The Chairman of the House Education Committe rejects a plan from private student loan lenders and is moving ahead with Mr Obama's plan for the government to make student loans directly to students. The president's proposal will save the government $87 billion over 10 years according to the Congressional Budget Office, which can then be used to help poor students pay for college, and lighten the burden on parents for student loans. Its a critical part of making college education affordable.

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China's central bank, the People's Bank of China, reduces the capital reserve requirement ratio for the largest banks by 1% to 18.5%, on April 19, 2015. This move is expected to free up $200 billion for new lending by banks. China's securities regulator also acted to curb margin financing, the using of borrowed money to invest in the stock market which faces bubble conditions. China's economy is reported to be slowing making it uncertain whether the 7% annual growth target can be met.

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Lahart says Delta's move to go after Singapore Airlines 49% stake in Virgin Atlantic is the right move because of the landing rights it gains at Heathrow Airport in London. Delta is in a much better position to take advantage of the 304 takeoff and landing slots of Virgin than Singapore Airlines. It also helps ramp up the small number of 28 slots Delta holds at Heathrow, so that it can compete with American Airlines (AMR) and United on transatlantic routes.

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Honda's hydrogen fueled FCV car will go on the market in Japan in March 2016. The car is designed for people who are looking for a zero emissions car that can fuel up in a few minutes for 300 mile range driving and are located near hydrogen fueling stations. About 50 such stations will be up and running in California by 2016. Honda has not given a price for the car. A similiar hydrogen car the Toyota Mirai price is estimated at $60,000.

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House Budget Committee chairman Paul Ryan said in remarks at a breakfast hosted by the Wall Street Journal- he would submit a budget plan that would balance the budget in 10 years by cutting government spending and without raising tax revenues. This comes before the House vote to suspend the debt ceiling till May 18, 2013, giving more time for deficit negotiations. Ryan said: "Hopefully, people can come together to agree on getting a down payment on the debt crisis."

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The Economist asks whether the government can have the resolve to take strong action where necessary with the banks. The feeling is that the government was too close to the banks during the boom, and banks like Goldman have so much influence in the government and many bankers work inside the government, making it difficult to separate the public interest from the interest of the banks. This makes it more difficult to take necessary action when it comes to the banks.

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Julie Cohen, Georgetown University Law Center, on fair use doctrine of copyright law and the standard for how consumers can use copyrighted content, especially for criticism and commentary. How does this relate to the analysis and commentary of Intelilinks? She said fair use could involve for example, compiling and analyzing copyrighted visual images to create a visual search engine, transferring a song from a CD to an MP3 player or compiling film clips to create a multimedia presentation for a school assignment.

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Luis Almagro, president of the Organization of American States, from the small South American nation of Uruguay, says he has decided to speak up on Latin American issues, for respecting the sentiments of the people and democratic process. This is a welcome trend and more Latin American voices need to be heard, for Latin Americans to make their own assessment of the needs of the people, the problems and how to tackle them. More dialogue is needed between the government and the opposition parties to come up with better approaches and throw light on problems. The effort of Mr. Chavez however well intentioned, following neglect of social spending and needs of neglected groups under previous administrations, has gone to the other extreme leading to isolation from the rest of the industrialized world's economies- something no country can afford to do today because of the pace of technological change, much less smaller oil or commodity dependent economies. Large petroleum subsidies need to be addressed in Venezuela, as Mr. Maduro now says, and opening of a dialogue with the opposition parties is one result of Mr. Almagro's efforts. At some point a transition is needed with support of all political parties to bring Venezuela back into the global economy. Inflation of 141%, and contraction of the economy by 10% hurts all Venezuelans. Not even faint traces of the Monroe doctrine that asserted U.S. dominance in South America exists today, and it is upto Latin Americans to tackle problems of corruption, misguided policies, lack of emphasis on innovation and education. The Washington Post's deputy editorial page editor Jackson Diehl, does a service to Latin America by calling attention to such voices for dialogue and problem solving....