LyrArc Article Gist
The invention of the Universal Product Code (bar code) by IBM engineer, George Laurer in 1971. The insight that led to redesigning an existing invention.

LyrArc Article Gist
Boston's John Hancock Tower is sold in a foreclosure auction held by an investor group for $660 million, at half the price paid by the private equity firm Broadway Partners in 2006.

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The US Airways and America West merger has not lived up to expectations. Both airlines operate together but are run practically separately and the employees feel that way, considering themselves on the east side or the west side. Not much of a merger, and President Dave Parker has failed to win labor confidence, not having signed labor contracts with his employees and operating under transitional arrangements.

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NYT's Kristof reflects on the low levels of discourse in public life to which the 2016 U.S. primaries had sunk by March 2016, and the role the media may have accidentally played in this development. This gives the media a lot to reflect on and correct in the coming months.

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A question about perceptions of the  of Indian Muslim communities is asked at the Peterson Institute in Washington D.C. Nirmala Sitharaman, India's Finance Minister, responds by comparing the situation where India's Muslim communities have grown from about 10% of the population in 1947 to 15% today compared to Pakistan where Muslim communities were not protected and dwindled from 15% of the population to about 3% today. She did not mention the inclusivity in policy where sab ka vikas sab ke sath is national policy, development for all with the participation of all. And that Muslims benefit equally with other communities in the rapid growth of the economy and GDP in India. This positive story for Muslims and for all communities also stems from the ideals of Vedanta, respect for all religions in Vivekananda's idea including Buddhism, Christianity and Islamic faiths. It also comes from India being rooted in Gandhi's and Vivekananda's ideas since independence. ...

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The true story of the two German scientists, children of immigrants from Germany, who did the research behind the Pfizer vaccine for coronavirus. One the son of a guest worker from Turkey who worked at a car factory in Cologne, another the daughter of a doctor who finished medical school and immigrated to Germany. They started primarily on cancer vaccines using new mRNA technologies. Much of their work focused on meeting the gap that had developed says Ozlem Tureci, between what was done in the labs and what was available to patients and doctors. 

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Jannik Sinner has a new coach Vagnozzi as he resets his game in world tennis.

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Palantir Technologies offers 200 fellowships with 4 month course on western civilization to high school graduates who skip college. The fellows are offered jobs full time so they end up missing the opportunity to go to college for the necessary maturity to make the right decisions about their future. Parents of the fellows disagree and see college as a better idea. The semester course on western civilization is something that could be taught in high school and made part of mandatory courses similar to math and languages. 

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The Queen of England and Meghan Markle spend a solo night together in the royal train which dates back to the 1970's with period decor. The train traveled for 2 hours spending most of the night on the siding from Euston to Rincon in Cheshire. No one knows what they discussed or how they spent the time.

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Harris Primary Academy in southeast London is a primary school that shows how reopening can be done safely. The primary school's head teacher Mr. French says nothing was left to chance and the logistics detail were handled carefully. The children practice social distancing with games and "helicopter arms."  

Parents and teachers feel comfortable in the carefully set environment. Children have all they need at their tables which are set a distance apart and stay in "bubbles" of ten children. Not all children are back but for the parents who felt it was right to start their children at school it has been a good experience, and one that can be emulated in other places.

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Systemic risks from "too big to fail" and the pushback on capital reserve requirements that leave banks with lower reserves. Ewing describes the role of the president of the Swiss Central Bank, Mr Hildebrand, in setting rules for higher capital reserves for Swiss banks than that of other countries and the pushback from the banks resisting the new regulations. "He will never find another job in Switzerland," a Swiss newspaper Der Sonntag quoted one banker saying this about Mr. Hildebrand. Losses at Swiss bank UBS during the financial crisis and the $2 billion loss at a UBS trading desk in 2011 have created a new awareness of systemic risk at banks. During the financial crisis banks used an optimistic estimate of "risk weighted assets" which led to insufficient capital reserves in a crisis even as the banks were shown to be well capitalized. A sense that banks in Europe and the U.S. will continue to have insufficient capital reserves at 3-4% of assets under new rules and with the longer phase in times for the new Basel III regulations of reserves at 7% of assets to after 2016....

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Even though Denmark is trying to portray this as about 60,000 people on an island almost the size of Canada, Denmark was a colonial power when it acquired the terrritory through merging with Norway and later in Treaty of Kiel in 1814 during the Napoleonic Wars it retained Greenland. In these European Wars lands were exchanged based on success of armies fighting the French. It is "completely useless" for Denmark and it has not invested in Greenland which is backward with poor standard of living, no infrastructure. The US alone can change that. For the US it needs to own the island to make the Eastern Seaboard of the US secure from foreign powers, a point Seward made when he sought to acquire it in 1867 along with the purchase of Alaska from Russia, Every American government since and including Truman has sought to do this. Denmark is in Greenland only because of its colonial power rivalry with Sweden and the British Empire, when it was exchanged or retained for other territories as was the practice of the Europeans in the 19th century wars. It is not there to develop the island, its infrastructure and improve its quality of life, and has never done this. ...

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The UK based magazine The Economist will maintain its independence after a sale of 50% shares is completed to Exor or some other company. This is because the shares sold are "B" shares. "A" shares and trustee shares will be retained so that the independence of the magazine is not affected. The Economist has increased its circulation to 1.6 million in 2015 from about 1 million in 2006. It reaches a highly educated and upper class audience. The magazine has a unique culture in which journalists debate editorial direction and writers also do editing, with no writer's names mentioned for its short Time magazine type coverage of international topics. It also has a Intelligence and Statistical unit to provide more advanced coverage on some topics such as finance and policy.