marketplace The Heights
Thursday, March 17, 2011
B10
Thursday, March 17, 2011
Patriotism lacking in modern US society
Politics The United States House of Representatives passed a three-week extension of government funding. The extension will take effect after the current two-week extension expires on Friday. Despite last year’s massive spill in the region, a federal appellate court granted the Obama administration extra time to approve five deepwater drilling projects in the Gulf of Mexico. The Republican National Committee has considered selling the broadcast rights to the GOP presidential debates. The RNC is currently more than $22 million in debt.
David Cote
Economics Oil prices dropped to a two-week low of $97.30 on the New York Stock Exchange. The decrease was based on a speculated drop in Japanese demand after the earthquake and tsunami. Ohio Governor John Kasich unveiled his plan to slash $8 billion from the state budget. The total state budget is only approximately $56 billion total, a 14.3 percent cut from current spending. The Federal Reserve pledged to continue its policy of promoting low interest rates. The Fed usually raises interest rates during oil price increases to curb inflation.
Science & technology
photo courtesy of kyodo news
The earthquake and tsunamis that struck Japan last Friday caused widespread damage throughout coastal areas, as shown by the wreckage above.
8.9 magnitude earthquake shatters Japan Japanese infrastructure damaged by tsunamis; rebuilding begins By Michela Gacioch Heights Staff
The Russian space agency pushed back a scheduled March 30 launch to the International Space Station. A faulty transistor on the spacecraft caused the delayed launch. Verizon announced that the new Thunderbolt phone will be able to access its 4G network. The Thunderbolt will also have an unlimited data plan, an option which competitior AT&T lacks. The space shuttle Discovery landed back on Earth from its final flight last week. The shuttle will be transferred to the Smithsonian later this year as part of a new exhibition.
in numbers
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The tsunami that barreled through Japan on Friday, March 11, left little behind for searchand-rescue teams that reached parts of the country Monday. There was searching, but not much rescuing as it seemed those left to rescue were far too difficult to find. The death toll from what the United States Geological Survey called an 8.9 magnitude quake, continued to rise as officials searched through splintered houses and piles of wreckage, uncovering more bodies. By Monday afternoon, the toll stood
iPad 2s sold on its debut weekend. Retailers across the country have had trouble keeping the iPad 2 in stock to meet high demand.
61 percent of movies or television shows streamed online come from Netflix. Comcast, its next largest competitor, only accounts for 8 percent.
in quotes
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We have said from the beginning that nuclear energy is part of our portfolio.
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– Ken Salazar Interior Secretary, responding to safety concerns about nuclear power
“Ultimately, it’s a failure.” – Rick Santorum Former Senator and possible presidential hopeful on Massachusetts’ health care
country. Convenience stores no longer have any food to sell. Only Red Cross water tankers were able to dispense drinking water to Fukushima residents who waited in long, orderly lines. Prime Minister Naoto Kan described the earthquake, tsunami, and nuclear troubles to reporters as Japan’s “worst crisis since World War II.” Some 350,000 people have reportedly become homeless due to the destruction and are living in shelters. Because of the Fukushima nuclear plants being lost to the national power grid, the Tokyo Electric Power Company, which operates the plants, announced plans to rotate blackouts across the region to conserve electric-
See Earthquake, B9
See Wars, B7
Finance at a Glance
How to ensure success in the stock market
Western journalists forcibly deported by Yemenite police. The journalists had been reporting on the anti-government protests in the country.
1 million
at more than 1,800 confirmed dead and 2,300 missing. However, recent reports reveal that police officials are certain that more than 10,000 have died, possibly up to 25,000. Police teams found about 700 bodies that had washed ashore on a scenic peninsula in Miyagi Prefecture, an area close to the epicenter of the quake that catalyzed the tsunami. The bodies washed out as the tsunami retreated. They are now washing back in. A sequence of crippled nuclear reactors at Fukushima also continued to plague engineers who were desperately trying to cool them down. The most urgent worries concerned the failures
of two reactors at the Fukushima Daiichi nuclear plant, where workers were still struggling to forestall meltdowns and where some radiation had already leaked. The reactor facility No. 1 exploded on Saturday, and a hydrogen buildup blew the roof off the No. 3 reactor facility on Monday morning. Officials told reporters that the blast did not appear to have harmed the reactor itself. However, six workers were injured in the explosions. Chief Government Spokesman Yukio Edano told reporters late Monday that reactor No. 2 was losing cooling function and workers were pumping in water to avoid another blast. Amidst the nuclear chaos in Fukushima, gas stations, grocery stores, and restaurants remain closed, as they do in much of the
Over break, I watched the HBO World War II miniseries Band of Brothers. Every time I watch the series, the patriotism of American society during that time in our history astounds me to a greater degree. How was a war of such a large scale so widely supported and how did that support continue despite heavy casualties on both fronts? In comparing this patriotic fervor of World War II with our nation’s current conflicts in the Middle East, it seems at times that the patriotism evidenced during the the 1940s is seriously lacking from today’s American society. World War II was supported and aided by civilians throughout, while the wars in Iraq and Afghanistan have been repeatedly called into question throughout recent years, despite remarkably similar beginnings. This apathy and condemnation of the War on Terror by the public makes recent calls for American troops in Libya seem preposterous. After the attack on Pearl Harbor, our entire nation was calling for war. Within days, the papers were signed and the United States was at war with Germany and Japan. Compared to the attacks almost 10 years ago on Sept. 11, the situations are very similar. After the attacks in 2001, there was a similar call to arms by a large majority of the population which resulted in troops being deployed. The rage felt for Al Qaeda and Osama Bin Laden was a palpable emotion among American citizens—we were quite literally out for blood. If the initial support for the war
Alex Dripchak Well you know just about everything you need to know on why to invest and with whom to invest, but does this mean you just run around picking stocks out of a hat? Playing “eenie, meanie, minie, moe?” Flipping a coin? While these may sound like intriguing options for King Midas, the rest of us will have to devise a plan of action for evaluating companies and their prospects. To do so, we must acknowledge what not to do. Number one rule: do not make any uninformed decisions. Many inexperienced investors just blindly throw their money in the most widely held stocks and big names like McDonald’s, Wal-Mart and General Electric. Big names can be very lucrative if you are catching them as they revolutionize an industry. However, with a company like Wal-Mart, this is not the case. As many discount retailers cut jobs (Wal-Mart included) and with “soft sales,” Wal-Mart is one to avoid. However, outside of news and widely-held stocks, what
else should impact an investor’s decision whether to buy or not to buy? Number one criteria: earnings growth. Looking at how a company has performed in relation to its previous quarters is fundamental in deciding if you should buy a stock. If a company is outperforming its previous quarter the year before (i.e. quarter three of 2011 is compared to quarter three in 2010), this is usually a good sign. Also, if a company is beating earnings expectations that experts make, this is another good sign. When looking at earnings growth, make sure to look at percentages. Beating expectations by three cents a share could be insignificant, but when the earnings per share is .30, this is a 10 percent increase. As cliche as it may seem, check the valuation of the company. By this I mean, how is the stock priced relative to its previous quarters and years? Some stocks may be unduly burdened by a poor market or a poor sector. If a sector leader struggles immensely, this could negatively impact the whole sector even though the company itself is no different than the day before. Price/earnings to growth numbers (usually denoted as P/E or PEG) are a great indicator of
See Finance, B7
i nside Marke tp l a c e
this issue
Hussein Malla / ap photo
Libyan rebels (above) have been pushed back to their stronghold in Benghazi by Gaddafi’s ruthless armed forces.
Libyan rebels backed to the ropes By Gerard Farara Heights Staff
A few weeks ago, the uprising of the Libyan people seemed to have their oppressive government on the ropes. They swiftly conquered the eastern portion of the African country, including Benghazi, the second largest city. They were even making headway in the west, slowly and seemingly surely closing in on the capital, Tripoli. Fast-forward to the present and the result is quite different from what many may have thought would be the inevitable outcome. Colonel Muammar Gaddafi and his forces currently have the upper hand. His stronghold, Tripoli, remains firmly under his grasp. So too, are neigh-
On the flip side
bouring towns, such as Misrata. His forces, including paid foreign mercenaries, have emerged atop some of the country’s vital oil towns, in particular the important coastal town, Ras Lanuf. And Brega is now the most recent town to be tied to Gaddafi’s leash. It is an eastern town on the foothills of Benghazi, the headquarters of the Libyan revolt. The protestors have taken several steps backwards on their quest for democracy. But what has driven this drastic turnaround? As Colonel Milad Hussein, military spokesman said, “[We are] marching to cleanse the country.” As the rebels put it frankly, this cleansing entails air strikes and shelling of Gaddafi’s own people. People—Gaddafi is swift to
This week on the flip side will explore both sides of the issue of collective bargaining rights for public sector employees...................... B8
reply—who are terrorists from Al Qaeda. Hussein continued on, telling reporters, “Our raids are forcing the terrorists to flee. We have liberated Zawiya, Ujayla, Ras Lanuf and Brega, and the army is advancing to liberate the rest of the regions.” In his opinion, the “terrorists” are the true enemy- parasites that nearly crippled the country. Meanwhile Gaddafi and the Libyan people are just the host cell, feverishly trying to fight this disease. Of course, the rebels’ interpretation of the situation is quite different. The facts seem to support the latter rather than the former. Human Rights Watch made a statement that Gaddafi policeman have
See Libya, B9
International Insight s ......................B8 Po l i t i c a l B el i e f . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B7