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Pictures and videos of creative ways in which Germany is responding in reopening its economy from DW.com. This shows how creative ideas are being used to seat people in restaurants, theatres, and music concerts. The Berliner Ensemble theater setup by Bertolt Brecht after the war is shown with new seating arrangement. The Dresden Palais Sommer,  a major summer festival will have 100 events from July 17 to August 23. Also open is the Frankfurt Book Fair. In every case the social distancing required by the German government till June 29 is being followed with a sense of good humor and willingness even when only a fraction of the capacity is used.

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The NYT editorial says the negative feedback loop of foreclosures begetting falling house prices, which beget more foreclosures, and further weaken banks, is well under way. One way to have broken this, was to enable good types of loan modifications, which reduce the principal for homeowners and reduce payments significantly. Sheila Bair at FDIC says 32% of prior payments is about the right amount. The bad types of loan modifications that lead to no reduction in principal, and put homeowners back in redefault because of large payments that homeowners "under water" or a lost job cannot afford, have so far been the dominant kind of loan modification. At present 14 million homeowners are "under water," in that their homes are worth less than what is owed on the mortgage. One of the crucial measures which would have enabled this, has not been pushed by the Obama administration through Congress. This was to pass an amendment that allowed bankruptcy judges to modify troubled mortgages. Banks which have taken billions of dollars in loans from the federal government were allowed to lobby aggressively to kill this amendment, and the Obama administration did little to push this amendment in Congress. 12 Senate Democrats joined 39 Senate Republicans to block a vote on the amendment. Says the NYT editorial "when the time came to stand up to the banking lobbies and cajole yes votes from reluctant senators-the White House did'nt. When the measure failed there wasn't even a statement of regret." This could turn out to be a major mistake, because as the NYT points out voluntary loan modifications have shown poor results. The administration's plan to provide incentives for loan modification is untried and tested, and may not produce significant results. With 14 million homeowners under water, and spiralling foreclosures, the situation may get out of control and seriously damage the economy. After the moratorium in home foreclosures ended there is expected to be a big surge in foreclosures, with estimates of 290,000 to 341,000 foreclosures in March, 2009. If this is allowed to continue it will undo all the good work in other areas, the stimulus spending, rebuilding the auto industry and other steps. It will also be more difficult to reverse as valuable time passes and the cost of the crisis escalates. A consensus among many experts was that stronger action in connection with the banks was required, and Martin Feldstein has warned about the danger posed by foreclosures since early 2008, see links....

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A nasty recession could offset any relief from falling oil prices for the airlimes, so the situation is still grim for the airlines. Boeing and Airbus say the airlines have financing for their orders for more fuel efficient planes for next year but cannot say beyond next year.

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The Federal Administrative Court in Leipzig, Germany, ruled in an appeal of a lower court decision, that German cities Stuttgart and Dusseldorf could ban diesel vehicles from urban traffic to reduce air pollution. Diesel vehicle technology of German manufacturers took a hit with the VW emissions cheating scandal. This ruling now puts pressure on the next German government to force car makers to take on estimated 8 billion euros in costs to refit older diesel vehicles to reduce pollution. Another option for government is to push this cost onto taxpayers, not a popular move. A longer term trend is also underway now that diesel fumes are seen as being more damaging to health than previously thought. Cars made up half of cars sold in Europe before the 2015 VW diesel emissions scandal when VW misrepresented the real amount of emissions taking place. This has dropped now to 44%, and is now more concentrated in delivery vehicles, craftsmen vehicles, according to analysts. This is expected to drop to 20% by 2025. The Leipzig ruling accelerates the decline of the diesel engine in Europe. As the Leipzig ruling is at the federal level the Environmental Action Germany which setup the lawsuit says the first diesel bans could go into effect in 3-6 months.    ...

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A detailed account of how the American airstrikes in Farah province look from the ground. CIvilians who may not have much to do with the Taliban get caught in these strikes, and burned bodies of women, girls, children are to be found along with destroyed homes. It only creates new volunteers among the young for the Taliban and legitimizes anti-American feelings after bombings of this kind. Its also exactly as the Taliban intended it, as they hid among the civilians with this in mind. US soldiers outnumbered in difficult terrain and vast spaces call in airstrikes after ambushes and difficult fights. The US has to do some serious problem solving on this one, or risk losing the support of ordinary Afghans , and with it the war. These are some of the tough choices in this war, with what kind of air support to fight this war. One that is pinpoint and based on accurate intelligence and in skirmishes in the open, but avoiding the kind that gets close to civilian areas. And finding other ways to tackle the problems. Having popular support is critical, and providing security is critical, which calls for more feet on the ground, more aid workers on the ground, and more to show for these efforts in reduced casualties and better lives of the people in each area. ...

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The company that only a couple of years ago was coming up with new models and among the top names in the cell phone business, is now gasping for air as it struggles to keep its cellphone business alive. It is an example of how vigilant and on ones toes (how paranoid in Andy Grove's words), one has to be in the fast moving tech businesses. Losing its leadership position to Nokia and other rivals like Samsung and LG from South Korea, who had better strategies and newer models, Motorola has never recovered, and the way down has been steep and precipitious. Motorola's cellphone sales fell a huge 51% in the fourth quarter, matching in its magnitude the kind of breathtaking sales drops that have hit GM and Chrysler for January 2009. And things cannot get better when the loss of $595 million for the cellphone division (or $31 for each cellphone shipped), mean cuts in design and other needed staff. Motorola has been closing design centers and has laid off 25% of design staff. In total Motorola posted a loss of $3.58 billion for the 4th quarter 2008. The rest of the losses include writedowns and charges for layoffs of 7000 workers announced since October 2008. Motorola shares trade at $4.04 on the NYSE and Moody's has downgraded it to Baa3, the lowest investment grade rating. ...

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India's Northeast has been completely transformed in the 8 years since 2014 with PM Modi's infrastructure improvements. Tele density is up from a little over 40% to 65%, and massive road, rail and air infrastructure building have created a new Northeastern India. This can be seen in the way Northeasterners are looking at the future with a new optimism and integrating into India's experiment with development under democracy with enthusiasm never seen this way before.

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French effort to "systematically" require use of face masks in office and work environments. The High Council for Public Health is asking the government to make it mandatory for face masks to be used in all office spaces starting in September to cut the rising coronavirus cases which have reached 3000 a day. They are already mandatory in public transport and in shops. There is a clear link in the contaminated air and the rise in cases.

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About half of UK adults reported experiencing high levels of anxiety says the Office of National Statistics for the the first lockdown. During the second lockdown the fatigue coming from that period in March and the higher level of cases is likely to have increased the number of adults experiencing anxiety. Anxiety was experienced from the loneliness and the effect of the coronavirus on work. A quarter of all adults reported increased sleeplessness. Stockpiling, overworking, irritability, micro-managing, and alcohol consumption, are some of the erratic responses to this level of added anxiety. Experts suggest different responses. leadership and incremental change to put the problem into context. Such as in the case of coronavirus the important behaviours that one can control such as masking properly, social distancing properly, ventilating and cleaning the air with aircleaners, using necessary caution in outside exposure by limiting to the essential, and taking nutrients for defence against virus, other actions. After putting these in place the risks can be minimized.  At that point focusing on the present is seen by experts as the right way to respond. Get through this period or this week first, leave the next week or the next period for next time. To do this  baking, reading, hobbies, running, walking, yoga, gardening, and outdoors, a whole range of other activities including watching sports, listening to radio and music, all fall into this. Spending time doing things that make us happy. A good exercise is asking how does this make me feel, am I more relaxed? am I happier? Put things in perspective, is this catastrophising? Is this making it bigger than it is? Can I put away the illusion of control when control requires some higher power such as God. Can I leave that part to God, to the divine. Cognitive behavioural thinking modification is a way of tackling stress, loneliness, and the depression and anixety that feed on each other. Being aware that we may have wrong behavioural responses, asking questions about how accurate our thinking about things that pose threatening situations is, are helpful in tackling the anxiety.   Just breaking the pattern of behavioural responses of repetitive thinking is helpful by engaging in other activities. Meditation is helpful. Yoga is helpful. In this pandemic learning about nutrition and increasing one's knowledge of food, eating and exercizing right, of cooking, is a useful way of turning a negative into a positive.     ...

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Uber and Lyft, ride-hailing apps are adding to the traffic in downtown areas of major cities in the U.S. It is getting worse to the point where cities are looking for ways to ease the congestion in downtown areas of Chicago, San Francisco, New York, New fees are being enacted in these cities on Uber and Lyft, and regulators are also considering fees. The problem is that ride sharing apps customers prefer not to pool or share rides as the ride sharing apps said they would to prevent congestion. Another problem is that Uber and Lyft are actually pulling people away from buses, subways and walking creating new waves of congestion and poor utilization of public transportation designed to ease travel for most of the post war period. Worse they are not supporting healthy living because it is harder to walk on traffic congested streets and some people become lazy and just grab a ride rather than walk a short distance or walk to public transportation. Another issue is that an estimated 40% of the time the Uber and Lyft drivers in major cities cruise around for fares without passengers. San Francisco county officials have found in a study that over 60% of the slowdown of traffic speeds in San Francisco between 2010 and 2016 was due to the introduction of ride hailing apps. In Chicago, the policy director in the mayor's office says there is exponential growth in traffic congestion from these ride hailing apps.  A December report by the California Air Resources Board found that ride- hailing cars are driving with no passengers 39% of the time, and New York city estimates cruising at 41%. Mr. Schaller, a New York City official who has studied this issue says surveys in many cities show about 60% of riders in Uber and Lyft would have walked, biked or taken public transit or stayed home if a ride hail car was'nt available. More and more so called disruption by Silicon Valley in the interest of rapid and chaotic growth is looking like a bad thing, says this report in the WSJ, creating a whole new set of problems. What is not even understood here is the vast misallocation of resources, the billions of dollars that could have improved public transportation, bike paths and other means of getting around, improvements in cities downtowns to make them friendlier and with new park spaces with those dollars invested there instead of in ride hailing apps.   ...

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A government backed fund will recoup its investment in JAL when it sells 175 million shares at a tentative price of 3,790 yen ($48.38) each. JAL's president Yoshiharu Ueki, is aware of the many challenges still facing the airline, because of the growth of competitors in the Asian market such as Singapore Airlines and Emirates Airlines with much larger fleets and larger planes. JAL now has mainly mid-size more fuel efficient planes. Ueki says the listing on the Tokyo Stock Exchange merely puts JAL back on the starting line to a turnaround.

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The selection of Kazuo Inamori, who headed Kyocera and KDDI Corp, to lead the turnaround of Japan Airlines Corp. (JAL). Inamori is a supporter of the Democratic Party of Japan and advises the government of prime minister Yukio Hatoyama. Along with Soichiro Honda, Akio Morita, and Matsushita, Inamori is highly respected in Japan for his management and entrepreneurial skills

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Japan Airlines plans for a $8.8 billion initial public offering in September 2012.

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The Markit eurozone purchasing managers index comes in at 52.8 for June 2014. France's PMI declined to 48, showing contraction in manufacturing. Germany was at 54.2. The rest of the eurozone showed improvement. Average eurozone PMI for the second quarter 2014 was 53.5, up from 53.1 in the first quarter 2014.

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Macron received 27% of the vote to 24% for Le Pen and 21.7% for Melenchon. Pecresse of the Republicans 4.7% and Zemmour on the far right at 7%.  If no candidate wins 50% of the vote there is a runoff on April 24  of the voters who voted for other smaller parties and how voters for former socialist candidate Melenchon respond in the runoff. French departments in the Caribbean, Atlantic and Pacific can vote. There are also 1.4 million overseas voters. Which all adds to an interesting mix that these Guardian color coded graphics provide an insight into to show voter sentiment in 2022. Le Pen continues to draw support from the northeast, southeast around Marseille, and rural regions in east and south with Zemmour drawing away some far right voters in the Marseille region. Some of these areas suffered as manufacturing shifted to China, as in the industrial midwest of the US. Some of this is also communities involved in the Yellow Vest protests about cost of living for working class voters. Macron draws support from the western and south west regions around the cities of Toulouse, Bordeaux, Lyon, and affluent areas of Paris that have gained during the Tech and advanced industrial revolution. This also includes rural areas. Melenchon as former socialist candidate draws support from less affluent suburbs of Paris and all parts of the country looking for a shift from power concentrated in the presidency. About 13.2% of the vote is for smaller parties,  showing the kind of fragmentation that happened also in Germany as the main parties the Socialists and the Republicans lost significant numbers of voters. Valerie Pecresse of Sarkozy's Republicans received only 4.7%, showing severe losses for the main parties. ...

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A Norwegian brokerage firm Terra securities files for bankruptcy protection after Norway's main financial regulator withdrew its license for violating "good code of conduct" by inadequately informing 4 Arctic towns, Rana, Hemnes, Narvik, and Hattfjelldal about possible risks of complex securities it sold them. The towns lost about $64 million which were meant for salaries. The securities were related to subprime mortgage securities packaged by Citigroup and sold by Terra Securities. Shows how far the impact of the subprime mortgage crisis has gone. These towns will not be bailed out by the Norwegian government.

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Rogaine developed by Upjohn , then sold by Pfizer and now by J&J, was developed for high blood pressure but because of hair growth as a side effect was turned into a baldness drug. It is now sold in a mousse form. It is marketed like something you need to have in the bathroom like toothpaste, use often even if to prevent future baldness. Sales are still only around $46 million after an effort to boost sales. One see this in many other drugs advertising, but is it something you use like toothpaste?