LyrArc Article Gist
Parmeswaran Iyer headed two of prime minister Modi's favorite projects, one for ODI free India through the Swachh Bharat Clean India Mission, and second the Jal Jeeven Drinking Water for All mission. In both he has performed admirably. He is an IAS officer from 1981 from Uttar Pradesh batch and worked with the World Bank water initiatives from 2009 when Modi brought him back to India for Swacch Bharat Mission. Har Ghar Jal to bring water by tap to every family in India is an exceptional achievement of Modi and Iyer.  This report in Hindustan Times shows how hands on Iyer is, as it says Iyer cleaned a toilet pit during one visit to Telengana state in 2017. The behavioural transformation India experienced under people like Modi and Iyer takes India back to the days of the Gandhi Ashram on the Sabarmati river in Ahmedabad. Gandhi's activity there including a form of Swachh Bharat Mission in its pioneering days in the 1920's setting the form of activity that was not forgotten and brought back by Modi and Iyer one hundred years later. This has touched the lives of hundreds of millions of Indians today in the way Gandhi's ideas touched the lives of hundreds of millions in the 1920's, bringing dignity and grace to the faces of 1.4 billion people and providing an example for the extended neighborhood to Indonesia for close to 2 billion people. ...

LyrArc Article Gist
Meg Gentle, who helped build the first LNG terminal for Cherniere Inc. in the Gulf Coast of the US for export of natural gas extracted in the US, is now switching to work in green hydrogen production. The first facility goes up in Texas by 202 7after an experimental project in Chile. WSJ shows many former fossil fuel executives are taking this route to green hydrogen. Gentle says the nascent green hydrogen industry is similar to the beginnings of natural gas. She says there are all the same elements in both. And that the new companies can go from one plant to create a new transformation just like that done for LNG. A chief technology officer of Airbus, a head of GE Europe and China, and an Italian from Eni Enel are also working at green hydrogen companies. What has turned an historically uneconomic business into a possibly profitable business are subsidies from president Biden put in place for clean energy. These subsidies now cover 60% of the cost of green hydrogen, says the WSJ. Green hydrogen requires permiting, infrastructure, financing, customer agreements, similar to the fossil fuel industry. Many are joining for the challenge as green hydrogen when converted into a liquid for transport can't carry as much energy as fossil fuels. About 120 startups raised $2.6 billion in 2022, a 50% jump from 2021. The GE executive says no one has done this on scale making the opportunity enormous. ...

LyrArc Article Gist
Under a deal made between Partido Popular of prime minister Mariano Rajoy and the Ciudadanos party in Spain, the ruling party agreed to back measures to tackle corruption and ensure an independent judiciary. Public officials being investigated for corruption will be suspended from office. Selection will be done by members of the judiciary for 12 of the 20 board members previously elected by parliament that appoints judges and prosecutors. Wage subsidies are introduced for low income families and cuts in public spending for health and education are restored under the agreement,  which includes a program of 150 measures. The combined vote of the two parties get it to 169- 137 for the Partido Popular and 32 for Ciudadanos- and with the aid of a Canary Islands party to 170. The Ciudadanos party will not participate in the Partido Popular government but will vote in its favor. This is still short of the 176 votes needed in the 350 seat parliament. Rajoy could have a second term only if the Socialist party allows some members to abstain. As this is uncertain Spain faces the prospect of an election in December 2016. ...

LyrArc Article Gist
Robert Mueller, the special counsel, says the Mueller Report and his investigation into the 2016 presidential election does not exonerate president Trump. If we had exonerated the president we would have said so, said Mueller in a public statement. "If we had confidence the president did not commit a crime we would have said that," Mueller said. He said the constitution of the U.S. does not allow a sitting president to be charged by the special counsel. Because the special counsel office is under the Justice Department and the department policy set the manner of the report, charging the president was not an option he had. The Republican party controls the Senate and the Democrats control the House of Representatives. Any effort by Democrats in the House to impeach the president would fail in the Senate. Democrats and Speaker Pelosi are wary of impeachment proceedings. Mr. Mueller's statement suggests there is also growing discomfort in Congress about taking no action at all that would be construed as exonerating the president for what happened during the presidential election, because it might set improper precedent for the future. This increases the pressure for impeachment proceedings in the House of Representatives from some Democrats for more information to let Congress decide. ...

LyrArc Article Gist
A women's rights advocate, and mayor of Seoul, South Korea, and one who as a lawyer was active in defending women's rights against harassment, is found dead. This happened 2 days after a former secretary who joined his office in 2017 filed a complaint at a police precinct about sexual harassment. Park Won-Soon was mayor of Seoul since 2011 and led the fight against the coronavirus. He had also fought for civil rights with the ruling party leaders in the struggle against the dictatorship in the 1980's.  The city of Seoul was in shock after it became apparent that Park had killed himself. South Korean president Roh Moo-hyun took his life in 2009 after the state prosecutors began investigating corruption allegations against his family. Culture in South Korea and Japan is changing from a long history and tradition of male dominant society as women assert rights to equality under the law and fair treatment at work. This is an unusual twist to the story as Park was actually one of the people initiating and supporting constructive change, and is the reason it has led to mourning in South Korea for the loss of Park Won-Soon.  ...

LyrArc Article Gist
Most of it is because of Donald Jr. and his affinity for Vance, a bonding that developed once the former president left office. Donald Jr. championed Vance choice over Burghum and Rubio. For the former president the choice was natural because his style fitted that of Vance of saying directly with candor what he thought. Vance's criticism that a second Trump administration focused on tax cuts and not investing in the American economy would not lead to economic growth still rings true as shown in the adjoining article on the US dollar, on inflation moving up with tariffs and job growth affected by lack of the government investing in the economy and American manufacturing. Even in the Depression years Republicans stuck to their idea that governments should stay out, are they likely to change that today? Vance's criticism was made before he became senator, in 2016. It would lead to another lost decade for the American economy and people, and put America just where the Tories have left Britain today so that Keir Starmer's Labour cannot bring immediate relief to the British people struggling with cost of living in 2025, with the mess the Tories have left behind.  ...

LyrArc Article Gist
The new government of prime minister Enrico Letta takes office in Italy in April 2013 following the reelection of president Giorgio Napolitano. Letta is 46 years old and represents a new generation in Italian politics. He is a former Christian Democrat and member of the European parliament. Letta studied at the University of Pisa, and did graduate work in international affairs. In the 1990's he was president of the European Young Christian Democrats. He was associated with Beniamino Andreatta, a Christian Democrat economist and founder of research group Arel. Letta was his chief of staff when he became foreign minister in 1993. In 1998 Letta was minister for European Affairs, and the following year Industry minister. In 2009 Letta became deputy secretary of the Democratic party. The firm European connections, a good sense of how Italians feel about the economic changes, a connection with young people, and his grasp of the needs of business and labor in improving Italian competitiveness, make him an excellent choice after the inconclusive parliamentary elections in Italy. ...

LyrArc Article Gist
Here are some ways to make for a better day at work.  1. Have what is called a "monk-mode" morning when you just keep out all phone calls and focus on "deep work," without distractions. Every little distraction in the form of a call or some other interruption has its costs in terms of having to refocus and not being able to concentrate on the task at hand as it deserves. 2. Have "meeting-free" days. These are days that you can focus, concentrate on tasks without distraction of meetings. Have walking meetings and meetings where you can walk out in the open for fresh air and some exercize. And no phones at meetings. 3. Replace reading with presenting powerpoint presentations. Have people write out their ideas for others to read so that discussion can be engaged and effective. Amazon CEO Bezos never believed in powerpoint presentations and required staff to write so that they could in the process improve on the clarity of their thinking. 4.  Have weekends free of email. This reduces the stress of workers under a manager who spend time writing and answering emails over weekends when they could replenish their energies and come back charged up on Monday morning for a fresh start on a new week. 55. Grab a coffee with a colleague and do some one on ones talking as one walks around the offices. This was done by Intel's Andy Grove as an effective way to get things done eliminating some of the need for formal meetings. This also provides an opportunity for casual conversation Also laugh and socialize in different ways.       ...

LyrArc Article Gist
Ip's point about the actions of previous president's in promoting a recovery long after they are in office has to be qualified by the uncertain economic outlook for 2013, with a slowdown in the eurozone, China and India, and the efforts to control the deficit in the U.S. also affecting the economic outlook. The process of deleveraging has still to work itself out and the economy is still being supported by the Fed's continual easing of monetary policy.

LyrArc Article Gist
Mario Monti takes office as prime minister of Italy as Italian bond yields reach 7.4%. Italy faces the task of refinancing 200 billion euros of maturing bonds by April 2012. Bond yields exceeding 7% make the task of refinancing Italian debt even more difficult. Monti said he would try to restore Italy to financial health without giving up "social equity," and added that "we owe it to our children to give them a dignified and hopeful future."

LyrArc Article Gist
David Stockman, director of the Office of Management and Budget under Reagan, is interviewed by Tom Keene. Stockman says the US has $52 trillion of debt on a $14.5 trillion economy, a ratio of 3.6 times GDP. Historically, before 1980, it has been around 1.6. This debtification of the US, he says, is the major problem facing the US today. Stockman sees little or no economic growth in the next 5 to 10 years, as debt reduction progresses.

LyrArc Article Gist
Washington Post journalist, Abigail Hauslohner, and two young Egyptian journalists, Sharaf al-Hourani and Mansour Mohammed, in the Post's Cairo bureau, cover the police and military attack on Morsi protest camps near Cairo university. Police open fire with live ammunition on protesters and spectators on the streets of Cairo. Snipers with binoculars follow the movements of the Post reporters, as two helicopters circle overhead. Two other journalists are shot. Police officers tell the Post journalists: "If I see you again, I''ll shoot you in the leg."

LyrArc Article Gist
The CDU party selects Annegret Kramp-Karrenbauer as its next leader. Chancellor Merkel favored the state premier of Saarland, a small German state, as the next leader. Merkel told CDU delegates that the party was not the party it was in 2002 and praised the work of Karrenbauer in Saarland, in an indirect endorsement of the female candidate over Mr. Merz who favored taking the party to its conservative roots.  Merkel has pushed the CDU to the centre and sometimes to the left in an effort to sideline the Social Democrats, which worked till the migration and refugee influx led to a fragmentation in German political parties and decline in support for CDU. The election was close with Karrenbauer winning in the second ballot by a bare majority. Merkel plans to stay in office till 2021 and the party post in the hands of a close ally helps Merkel consolidate her legacy. Merkel made Karrenbauer Gerneral Secretary in 2018 in a move that was intended to move her to the top position. ...

LyrArc Article Gist
There is concern that though President Da Silva has had success in his term in office, he is leaving problems for the new administration. One expert says he leaves a giant question mark behind him. One of the problems is high spending by his administration. After the financial crisis of 2008, the government flooded massive state run banks with cash, ordering the banks to to lend heavily to businesses and consumers. The government also increased its own spending on contracts and projects. Public spending has continued to grow since 2008, and federal expenditures as a percentage of the economy have doubled during Da Silva's term in office. In an editorial recently, the newspaper O Estado de S. Paulo, says the government should have used the high growth in the economy to cut public spending and improve the public finances. Because the Rousseff administration is a continuation of Da Silva's administration, and includes many of the same people, the daily asks if the Rousseff team's promises to cut spending in 2011 are believable. Inflation in 2010 is at 6%. The other serious problem is an highly overvalued currency, and volatile capital inflows from developed countries. The boom in China has helped Brazilian commodities and agricultural exports, a slowdown there would affect Brazil's economy. ...

LyrArc Article Gist
Pollock's interview with Geroge Shultz, Reagan's senior economic advisor and Secretary of State, at his office in the Hoover Institution, Stanford University. He says the U.S. can find its way out of the current economic crisis the way it did during the early Reagan years. On the Fed's loose monetary policy he says the Bernanke Fed's contribution to the economic crisis was very easy money. Now that we have it we realize that its going to take something different from easy money to get the economy moving- not just more money. Three quarters of the debt issued by the U.S. in the last year was bought by the Fed, and the Fed is monetizing debt when it buys debt because at some time this ends up getting out into the economy. Shultz sees the tax rules as being about more than rates. Corporate tax rates should be lowered by cleaning up preferences. But what is most important is predictability and an environment where business feels there is less uncertainty when investing. Shultz says Romney should read his memo to Reagan before Reagan assumed office, excerpted in the WSJ, "Advice to a New President," May 26, 2012. He also recommends John Taylor's new book- "First Principles: Five Keys to Restoring America's Prosperity." ...

LyrArc Article Gist
Obama's closest advisor, David Plouffe. Asked about Plouffe's influence in the Obama White House one aide says that Plouffe's imprint is on "everything." For the last 18 months Obama has kept the 2012 election in mind in his actions and kept a campaign focus, on the advice of Plouffe. George W. Bush's advisor, Karl Rove, does not see this positively, as he says it kept the president from governing. One issue on which there is considerable questioning is why President Obama did not support the recommendations of the president's Simpson-Bowles commission on deficit reduction. Though it remains conjecture, it may be because of Plouffe's and other election related advice that reducing deductions- or what are called tax expenditures- as suggested by Simpson-Bowles would be politically unpopular. If true this may be ways in which running for office long before the election date may affect necessary action in governing. The political calculations when allowed to go rampant can distort the needed actions of responsible governing, and lead to timidity, indecision and lack of leadership. ...

LyrArc Article Gist
This NYT report by Eric Schmitt describes the efforts of U.S. troops in Europe under Lt. Gen. Frederick Hodges to build  a fast movement capability to counter the threat from Russian forces on the borders of countries in Eastern Europe. Hodges says speed of movement is crucial. American forces are deployed in smaller numbers than the Russian forces. A 10 day exercize under Hodges involved 25,000 American and allied forces across Hungary, Romania and Bulgaria. Russian forces exercizes involve more than 100,000 troops. The war in Ukraine involved a breakaway region in the east supported by Russian forces.

Commanders and younger officers were trained to address the Cold War threat with the soviets. Then for over a decade the focus shifted to Afghanistan, then Iraq and Syria. Now the focus shifts back to the Eastern European area with a new Russian threat.

LyrArc Article Gist
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.

LyrArc Article Gist
Deutsche Post is reinventing itself for the digital world. Germany's postal agency sold off all but 24 of the 29,000 post office buildings. It is located within "partners" buildings, in banks, convenience stores, and in rural areas a shopkeeper or homeowner acts as postmaster. Because of the surge in online shopping Deutsche Post has expanded its package delivery. It acquired delivery provider DHL in 2002. Deutsche Post provides a model for the U.S. Postal Service as it faces a similiar transformation.

LyrArc Article Gist
Polly Lower quit her job to take care of her granddaughter, and Eddie Gonzalez-Novoa quit a $88,000 job to help a nephew who is a cancer survivor setup his startup video-gaming and social media site, and provide childcare for his granddaughter. They are 2 examples of the equivalent of 2.5 million workimg people the Congressional Budget Office estimates will reduce hours or quit jobs and take the government subsidies to lower income earners for healthcare insurance in the U.S.

LyrArc Article Gist
Raising the minimum wage to $10.10 an hour would help 16.5 million U.S. workers improve wages at a time when 45 million workers are below the poverty line in 2016, according to the Congressional Budget Office (CBO) projections. Most of the low wage workers are in retail and fast food industries. The total number of workers in 2016 the higher minimum wage pulls out of poverty in 2016 are 900,000. About 500,000 fewer workers would be hired because of the higher wage.

LyrArc Article Gist
Bell Labs building was built in 1962 and designed by Finnish American architect Eero Saarinen. It was closed in 2007. Plans are being made for renovation in 2013 even as there is an abundance of office space in New Jersey. This is part of the 473 acre site for Bell Labs in New Jersey. Scientists working at the site pioneered in the development of the transistor, cellphones, touch tone dialing and fiber optic communications, winning 7 Nobel Prizes for research.

LyrArc Article Gist
Swiss shareholder activist Ethos Foundation called for personnel changes at UBS. Dominique Biedermann, head of Ethos called for the replacement of Kaspar Villiger and Carsten Kengeter, who head UBS investment bank. Biedermann said UBS should leave investment banking and former Deuthche Bundesbank President, Axel Weber, should join UBS as chairman earlier than the planned 2013 date. He suggested Hugo Baenziger, current chief risk officer at Deutsche Bank, rather than interim CEO Sergio Ermotti, who is an investment banker, as the right person for the CEO position at UBS.

LyrArc Article Gist
Chorin, a foreign service officer in Libya 2004-2006, says the problems in Libya stem from the lack of appreciation of the importance of Libya in the changes going on in the Arab world, the U.S. seeing it as a kind of sideshow. A major problem was a lack of understanding of the importance of Benghazi, which is where the protests for democracy and freedom began. Instead the U.S. focussed on Tripoli and did not give enough attention to Benghazi, including the potential of problems from Mali where arms were shifted from Libya.

LyrArc Article Gist
A brief history of AIG which started as an insurer based in China. It was started as a insurer for the growing Chinese middle classes in the nineteen thirties by founder Cornelius Vander Starr. The name then was American Asiatic Underwriters and it had its offices in Shanghai. In an interview in 1935 Starr told Fortune magazine "This money is earned upon a sociological premise that the standards of living and hygiene of the Chinese middle classes are improving, with a consequent decline in the death rate." At the time this company's profits were as large as American insurers. The company was thrown out in the Mao period by 1956, and later its business was revived in China under Mr. Greenberg. This account can be seen in the book by AIG executive Ron Shelp, titled "Fallen Giant."