
This goes not just for tweeting twats, but also for blog commenters.
Those who know do not blog
Those who blog do not know
-- Lao Tzu
A new piece of research suggests that what an organization promises to employees-training opportunities, benefits, compensation, etc.-do not matter nearly as much as what the organization actually delivers.Gee, who would've thunk that?
Samantha Montes and co-author David Zweig, professors at the Rotman School of Management and the University of Toronto Scarborough, have found that the influence of promises has little effect on employee's emotional reactions toward the organization, their intentions to stay with the organization, and intentions to engage in citizenship behaviours.
In their study paper, the authors write that people care more about what they receive from their organization, not what they were promised.
Q: There has been international concern over the assaults and pressures on journalists in Sri Lanka. Some of these journalists were your personal friends, especially Lasantha Wickrematunge [Editor of The Sunday Leader] who was gunned down in January 2009. Then, in June, a Tamil woman journalist [Krishni Ifhan née Kandasamy of Internews] was abducted in Colombo by unidentified persons [who questioned her for several hours before releasing her in Kandy].Nice dodge.
A: Most of these cases were created, I would say. If you fight someone in the street and that man comes and hits you, can the government take responsibility? But we have not done anything against journalists even when they attack us.
The Supreme Court on Monday directed the Centre to file an affidavit by June 26 on the steps taken to ensure the safety and security of Indian students under racial attacks in Australia and Canada.It's nice that there's somebody to pull the government up for its non-performance, but is this the job of the judiciary? Last time I checked, their role was to interpret the law and the constitution, nothing more.
For example, the respected International Electrical & Electronics Engineering Journal (IEEE, May 2009, p.23) has published an article by two eminent professors of computer science, titled “Trustworthy Voting.” They conclude that although electronic voting machines do offer a myriad of benefits, these cannot be reaped unless nine suggested safeguards are put in place for protecting the integrity of the outcome. None of these nine safeguards, however, is in place in Indian EVMs.I googled for this article, to confirm whether there was any merit to his allegation, but the article is behind a pay wall. Another interesting point he raises is the employment of convicted hackers by a political party just before the elections (no prizes for guessing which party):
On the eve of the 2009 elections in India, I raised the issue at a press conference in Chennai, pointing out that a political party just before the elections had recruited those who had been convicted in the U.S. for hacking bank accounts on the Internet and credit cards.If these allegations are true, my already low level of confidence in these machines just went down another notch.
... if the machine fails, it is up to the family to replace it or the child must do without.Time for someone to step in with an insurance policy, methinks.
"It is hugely overstaffed, costs are very high, and the revenue picture in the immediate future is not that great."
Both Jayalalitha and Subramaniam Swamy have questioned the authenticity of the recently concluded general elections. While they have not substantiated their allegations, consider these facts:
Casey Savage graduated from Trinity College in Hartford with a 3.8 grade-point average and honors. What he doesn't have is a job.It's a bad situation, alright, but I can't feel too much sympathy for someone whose goal -- right out of college, no less -- is to take up a career where one's job: a) doesn't add anything to the real economy b) involves either a Ponzi scheme or blowing up the next bubble and c) screwing over old widows and pensioners.
"I've talked to 24 different firms so far. Hedge funds, investment banks, private equity shops," Savage said. "And I just feel that there's limited opportunities at this point."
Ajmal's trial is nothing but taking democracy too far. Only a person whose guilt is in doubt should be given an opportunity to defend himeself, not one who is is responsible for killing innocent people indiscriminately.Pray tell, how do we decide that someone's guilt is in doubt or not, without going through the whole judicial process (a.k.a. 'trial')?
The biggest internet revolution for a generation will be unveiled this month with the launch of software that will understand questions and give specific, tailored answers in a way that the web has never managed before.Revolution: check. Holy Grail: check. Massive interest among pundits: check. Evolutionary leap: check. New paradigm: check.
The new system, Wolfram Alpha, showcased at Harvard University in the US last week, takes the first step towards what many consider to be the internet's Holy Grail – a global store of information that understands and responds to ordinary language in the same way a person does.
NPS scores over EPFO on several counts. While EPFO follows a moribund investment pattern with no equity exposure, NPS allows members to design their own retirement portfolio and offers six different fund managers to choose from. EPFO's service delivery and account keeping is de-centralised and a recent audit found that over 90% of EPF members' accounts are inaccurately maintained. With a professional central record-keeping agency in place, NPS is better placed on this front.Frankly, except for the better record-keeping, the rest of the reasons are in no way deal-clinchers (note how the EPFO's lack of exposure to the equity market is dismissed as a "moribund investment pattern"). Also, good luck with backing the horse -- aka 'fund manager' -- most likely to win.
Workers can check their pension fund balances online, far advanced than the delayed annual contribution slips EPFO sends.
Real estate developers are warning that if (potential home-buyers) wait too long, there could be dire consequences for a number of support industries, millions of unskilled labourers and the wider economy itself... (Prakash Challa) warned that the confused consumer could push the market too far.I don't even know where to begin. Now home-buyers are supposed to throw prudence to the winds and jump into the market in the broader interests of the economy, never mind the uncertainty over their paychecks and whether they would be able to afford the astronomical EMIs. Also notice how their caution is characterized as confusion.
In nominal terms, it has fallen from Rs 39.27 to the US dollar on January 15 to Rs 51.10 to the US dollar by March 3 -- a decline of more than 30% in less than two months.The time it took for the rupee to fall 30% is actually 13 months, since the January 15 refers to 2008, not 2009. It wouldn't have mattered so much if this was from a regular news item (what with reporters facing deadlines and all), but the sentence in question is from the first paragraph of an op-ed piece, where one would assume more care would be taken to ensure accuracy.
Misguided interpretations of quantum physics are a classic hallmark of pseudoscience, usually of the New Age variety, but some religious groups are now appealing to aspects of quantum weirdness to account for free will. Beware: this is nonsense.Yes, you there in the last row, I'm talking to you.
A study of asset class-wise returns between 1998 and October 2008 by Fidelity International shows that equity has out-performed all other asset classes, followed by gold, fixed deposits and lastly, gilt.Tell that to an investor in the Japanese stock market: the Nikkei, after reaching an all-time high of 38,957.44 on December 29, 1989, is currently languishing at 7,376.12. An investor with a time frame of say, 19 years, would be really sore from all the ass-reaming.
But one has to have a long term horizon of seven to 10 years.
For an individual, it is difficult to time the market, namely to buy at the lowest price and sell it at the highest.A quick glance at the financial pages shows that there are approximately 57,483 mutual funds to choose from, run by fund managers with varying levels of competence. In what way is this better than choosing from an even larger list of individual company stocks? Also, unless a mutual fund is able to short stocks, I do not understand how it can give positive returns in a bear market; it's not a hedge fund, after all.
One has to know one's risk and reward profile and invest accordingly.
That is why it is better to go through the mutual fund route.
Many mutual funds may be performing badly in the present scenario, but it is not true of all mutual funds.
There are several who are doing well and giving good returns even in this scenario.
Among the bank groups, the off-balance sheet exposure of foreign banks was over 28 times of their total liabilities. Private sector banks and public sector banks had off-balance sheet exposures of 251.2 per cent and 61.5 per cent of their total liabilities, respectively.That's right, it's not 28 per cent, but 28 times. Considering that Citigroup is supposed to have a trillion or so dollars in off-balance sheet SIVs, this is not surprising:
The top five banks with the largest off-balance sheet exposures in India were Citibank - Rs 16,44,729 crore; Standard Chartered - Rs 16,25,608 crore; HSBC - Rs 13,22,985 crore; ICICI Bank - Rs 11,51,349 crore and Barclays Bank - Rs 10,44,134 crore.Like parent, like subsidiary. Also note that you-know-who is the only Indian bank in this sorry list.
Warren Buffett’s Berkshire Hathaway Inc. posted a fifth-straight profit drop, the longest streak of quarterly declines in at least 17 years, on losses from derivative bets tied to stock markets.And here I was, thinking Warren Buffet was conservative and invested only in things he understood.
...
Berkshire shares have fallen 44 percent in the past year as the value of the firm’s top equity holdings dropped and losses increased on the derivatives.
Don't be surprised if [educational] costs quadruple by the time you need to reach out for the chequebook for your kid's higher studies. This means that, unlike our parents, we can no longer invest in lower-risk, fixed income options since the growth of our investments will be hopelessly outsprinted by inflation.Yeah, nothing like some good old fashioned scaremongering ("Think of the children!") to drive the suckers into the markets so that the insiders can make their killing. On a related note, consider this:
Now comes the tricky part. To catch up with runaway costs, you will perforce need to mount the high-speed but higher-risk horse of growth investments such as equity mutual funds (MFs), unit-linked insurance plans (Ulips) that have a high equity exposure and perhaps some stocks.
Under a commodity standard, people could save for the future by accumulating gold and silver coins. The coins’ value appreciated over time because of their natural increase in purchasing power, as the relatively slow increase in the production of precious metals was outpaced by the much faster increase in the production of other goods and services. Today, only a fool would try to save for the future by piling up dollar bills. Everyone is forced to enter the financial markets, which are risky even for knowledgeable investors, in order to prevent the value of his retirement savings from vanishing before his eyesSomething to think about.
strategic management, effective management practices, effective management of various processes, operational efficiency, evaluation of all processes and systems, efficiency improvement, value-engineering, re-engineering, efficiency improvement parameters, SWOT, group discussions, formation of task forces, schedule for achieving better results, right sizing, managing human capital, upgrading of people's competencies, improve all round efficiency, human capital restructuring needs, exit route strategies, out-placement, talent development, Management Information Systems, Project and Office efficiency, Training Need Analysis, Train The Trainer Programme, feeling of ownership among employees.Man, I wish I could write like that -- I would then leverage a synergistic win-win situation for all the stakeholders just like that -- *snaps fingers*.
Asked by The Sun newspaper what (the 13-year-old father) would do financially to support his "family", the baby-faced father looked flummoxed and asked, "What's financially?"Screw it, it is funny, bad karma notwithstanding.
Kiev Mayor Leonid Chernovetsky — a highly visible politician — had difficulty answering even the most basic questions about the capital's financial problems at a recent news conference. Asked about shortages of gas to schools, city doctors who hadn't been paid for months and a threatened strike by local bus drivers, Chernovetsky responded with mumbles and stream-of-consciousness riffs about the local zoo and his affection for elephants, the need for more trees and flowers in the city, his propensity to dry off naked on a balcony after showering and the importance of the Bible.
Sania wanted to watch the much acclaimed film, directed by Danny Boyle, but instead of taking her along, Bhupathi and Bopanna went ahead and saw the movie. "Mahesh and Rohan ditched me and went to watch Slumdog Millionaire," Sania said on Tuesday.She went on to add, "And they came back and had ice cream cones in their hands and I was very upset that they had ice cream without me and I got angry and I went to my mommy and told her 'Mommy, Mahesh and Rohan went to the movies without me and had ice cream cones. They are bad boys and I don't want to be friends with them', and my mommy said, 'Don't worry honey, you don't need them, go to bed like a good girl and mommy will find you much better friends tomorrow' and that made me happy and I was smiling and I got into bed and fell asleep and dreamt of hundreds of tennis balls with Mahesh's and Rohan's faces drawn on them and I was hitting them very hard with my tennis racket and I felt even happier".
Halting the sharp fall for the past two months and giving indications of a revival, exports declined by a meagre 1.1 per cent in December 2008 over the same month last year showing a negative growth for the past three months but with signs of withstanding the worsening global economic crisis.Not so fast:
India's exports in January are expected to plummet by more than a fifth as the global slowdown slashes demand for Indian goods, and the trade minister said further government aid for ailing firms may follow.
"We expect exports in January to be down 22 percent in dollar terms," Commerce Secretary G.K. Pillai said, indicating that overseas sales could decline to $11.5 billion from $14.7 billion a year ago.
The PMO has decided to keep the assets of ministers and their relatives under wraps saying (this) information is exempted from the RTI act.
The mouth-watering chips have long been labelled as a "junk food". Yet, experts have claimed that gorging on a deep-fried potato diet can help people in beating certain cancers.Why do I get the feeling that this news item has an ulterior motive of persuading people to eat more of a) potatoes or b) junk food? The conspiracy theorist in me leans towards (b) -- potatoes, after all, are proven to be a good source of nutrition (including vitamin C), and there are other, much healthier, sources for vitamin C as well.
According to them, chips are rich in vitamin C, which tackles dangerous free radicals associated with cancer growth, and those suffering with the disease can even shrink the size of their tumours by eating wafers, the Daily Star reported.
| A. Huh, you were saying? C. So so | B. Very good D. Let's go out for pizza |
| A. Excellent C. So so | B. Very good D. Not really applicable |
| A. So crispy I thought it was the popcorn C. So so | B. Very good D.Stilted and soggy like a wet samosa |
| A. Completely refreshing and original C.It's a Bollywood movie. Need I say more? | B. Very good D. Danny Boyle directed this? Seriously? |
| A. Very highly C.It's a Bollywood movie. Need I say more? | B. Quite original D. Danny Boyle directed this? Seriously? |
| A. Same thing happened to me a while ago C. It's a Bollywood movie. Need I say more? | B. Heck, I know Jamal D. CowboyNeal |
| A. I am uplifted C. It's a Bollywood movie. Need I say more? | B. I've seen better D. Abysmal |
In one TGIF in Kirkland, an employee informed Eric Schmidt that Microsoft’s benefits package was richer. He announced himself genuinely surprised, which genuinely surprised me. Schmidt, in the presence of witnesses, promised to bring the benefits to a par. He consulted HR, and HR informed him that it’d cost Google 22 million a year to do that. So he abandoned the promise and fell back on his tired, familiar standby (”People don’t work at Google for the money. They work at Google because they want to change the world!”). A statement that always seemed to me a little Louis XIV coming from a billionaire.Amen to that. I too have heard about similar stories of senior management folks who, having made their fortunes in stock options, feign incredulity and exclaim, "Don't tell me you are in it for the money!", when the sorry fact is that if the next month's paycheck isn't in, it's a question of which bill can you postpone payment for.
Order allowing plea challenging appointment of Ananth stayedHead hurts, trying to figure out whether this is good news for the director or not.
HC reprieve for IIT-M directorThanks, got it.
The best and brightest minds go to lawyering, go to M.B.A.s. And that affects our country, too! Many of the brightest youngsters come to me and say, “Okay, I want to go to the U.S. and get into business school, or law school.” I say, “Why? Why not science and engineering?” They say, “Look at some of my primary-school classmates. Their IQ is half of mine, but they’re in finance and now they’re making all this money.”Nothing new in this, except that the part in italics is a near-verbatim quote of what someone said to me yesterday, after meeting one such MBA.
With the handset unit continuing to bleed cash, Motorola was planning to spin the division off into a separate company and focus on its remaining two businesses, which focus on home entertainment and emergency-response communications. Those plans have been scrapped for now given the lack of interest by investors.
puissant, rascally, indolence, diabolical, instrumentality, Kilkenny cat functionalism, nocent, pachydermicOption A: They were all taken from the Reading Comprehension section of the most recent edition of the GRE.
Are our expensive defence systems so goofy and gullible that hostiles in guile, with brute objectives, can reach a busy city, march inside a seven-star hotel and indulge in diabolical destruction with vindictive terrorism?I wanted to add a few more examples, but for some reason, I seem to have developed a headache all of a sudden.
Even where Ministers and bureaucrats wine and dine, nocent neglect is writ large
The perspective of the executive at the State and Central levels is bureaucratic and pachydermic; pomp and power of office is the focus.
"When I started to play tennis, I wanted to be a doctor. I had to choose between tennis and being a doctor and I chose tennis. Now, thanks to MGR University, both my dreams have come true," said tennis star Dr Sania Mirza, HDFTBU(Alright, I added the prefix and degree to her name. Readers who figure out what HDFTBU stands for will win an honorary doctorate from... never mind)
The macro headwinds for equities are strong with the Reserve Bank of India, in their first quarter review of the annual monetary policy for 2008-09, lowering the growth forecast for the financial year 2008-09 by half a percentage point from 8.5% to 8%.Translation:
Bad time for equities -- RBI has forecast that this year's growth will be 8% and not 8.5% as previously thought [*].Fund Manager Speak:
The investment objective of the scheme is to generate capital appreciation from a diversified portfolio of equity and equity related securities.Translation:
This scheme hopes to make money by buying shares low and selling them high; we are also not putting all our eggs in one basket.[*] Note the use of the word 'strong' in a negative context; one can almost be mistaken into thinking that some good news is being delivered.
... Thomas Friedman, who, it seems, cannot go a whole week without inventing a new fruit-based metaphor explaining everything about the entire modern world, all based on some random gibberish he misunderstood from a taxi driver in Kuala Lumpur
When such consequences are pointed out, there are those who reply: "Very well; if it is true that the X industry cannot exist except by paying starvation wages, then it will be just as well if the minimum wage puts it out of existence altogether." But this brave pronouncement overlooks the realities. It overlooks, first of all, that consumers will suffer the loss of this product. It forgets, in the second place, that it is merely condemning the people who worked in that industry to unemployment. And it ignores, finally, that bad as were the wages paid in the X industry, they were the best among all the alternatives that seemed open to the workers in that industry; otherwise the workers would have gone into another. If, therefore, the X industry is driven out of existence by a minimum wage law, then the workers previously employed in that industry would be forced to turn to alternative courses that seemed less attractive to them in the first place.In reality, how easy is it for someone to change their career midway through? Unless the assumption is that since it's a minimum wage job we are talking about, one does not need significant retraining for a new career. Also, people sometimes don't want to relocate in favour of a higher paying job, and are forced to put up with lower wages.
All speculative bubbles have a kernel of truth behind them to justify their existence. This time around it was China and India. These emerging Asian giants were gobbling up all the commodities the world could produce to fuel their rapid industrialization.That sure rings a bell.
It wasn't that the story was untrue; it was old. Growing global demand probably was the reason for the gradual rise in oil prices from $20 a barrel to $40 earlier in the decade, and even to $60 by mid-2005.
It was the moon shot to $147 that took on a life, and a litany, of its own. Emerging nations didn't start gobbling up crude, coal and copper all of a sudden in the middle of 2007.
I wanted to investigate if these experiences could be attributed to the drugs that we gave the patients, to abnormal levels of oxygen or carbon dioxide in the blood and was there a way of verifying the out-of-body component? So I hid symbols on top of cardiac monitors at each patient's bedside which could only be viewed from an out of body perspective.That sounds promising; reading on:
In June 2008 my book, an academic monograph, "The Near-Death Experiences of Hospitalized Intensive Care Patients: A Five Year Clinical Study" was published by The Edwin Mellen Press. The reason that I chose to publish an academic book is because I believe these experiences need to be taken seriously.The article then goes into the details of the study, its purported benefits, and so on, but there is no mention of whether any evidence supporting these experiences was found.
Mr. Chidambaram pointed out that the country’s public sector banks, in which the government holds the majority shareholding, did not have any “undue exposure” and whatever they had were in accordance with the Reserve Bank of India guidelines. ICICI Bank, however, did have some exposure and it had made the necessary disclosures.No surprises there.
I have been following (Brahma) Chellaney's articles on the nuclear deal. From the beginning he has been assiduously following a line quite opposite to the one held by the government. In a democratic country, every citizen has a right to express his or her opinion, and Chellaney is one among them. He, however, appears to be a diehard critic of the deal for reasons best known to him.Excuse me, "reasons best known to him"? Here's this guy, who has been busting his hump, wading through the text of the various documents pertaining to the deal and the NSG waiver, and putting down bulleted points for why he is against the deal, and we still get questions like this.

Question: I have done a search on Lycos for your papers and I only found two titles: the STL manual and a resume of you presentation of STL to the standardization committee.Trivia: there are 23 occurrences of the word 'class' in this post.
Answer: Well, I am lazy, but not that lazy. I probably published 20 papers and a book. Many of them are on different STL sites. (Dave Musser's site probably has several.)
Question: Which book?
Answer: The book is "The Ada Generic Library: Linear List Processing Packages", by David R. Musser and Alexander A. Stepanov, Compass Series, Springer-Verlag, 1989. It is not really worth reading.
Dear Customer,Dear Marketroid, if you click on the 'Profile' link on the top right hand corner of this page, you will see my picture. Please note that I am a dark-skinned Indian, and that a 'glowing tan' is the last fricken thing on my mind. Considering the fact that the email was sent from 'india.marketing@citi.com', you guys will have to either a) stop mindlessly using copy from your international marketing *ahem* collateral or b) kindly remind your copywriters that, while they are enamoured with all things western, it wouldn't hurt them to reflect once in a while on the fact that they are in India, where people buy Fair and Lovely, not Coppertone.
When did you last abandon the boardroom in pursuit of play? Forsaken corporate schedules in favor of a holiday itinerary? Swapped your starched suit for a glowing tan?
...
Where did you get your php info? foreach was introduced in PHP4...
I get mine from phpinfo();
...Ms Siddiqui was arrested by Afghan police in July along with her son — the date is unclear — after they found them loitering outside the compound of the Governor’s house in Ghazni. They questioned her, and on suspicion, checked her bag, in which they allegedly found “suspicious” liquids in glass containers, a bomb-making manual, and some material on New York and its landmarks. She was handed over to the U.S. authorities on July 17.
On July 18 , Ms Siddiqui is said to have fired at American soldiers who were present at the Afghan facility where she was being held, with a rifle that one of the soldiers had left lying around. A soldier fired back, wounding her. Charged in a criminal complaint filed in the Southern District of New York with one count of attempting to kill U.S. officers and employees and one count of assaulting U.S. officers and employees
Here are the actions that we're taking: (a) we've deployed several changes to Amazon S3 that significantly reduce the amount of time required to completely restore system-wide state and restart customer request processing; (b) we've deployed a change to how Amazon S3 gossips about failed servers that reduces the amount of gossip and helps prevent the behavior we experienced on Sunday; (c) we've added additional monitoring and alarming of gossip rates and failures; and, (d) we're adding checksums to proactively detect corruption of system state messages so we can log any such messages and then reject them.Except for (d), these actions don't really address the cause, but only mitigate the effects.
(defun generate-lt (value)Duplication of code in the 'generate-' functions. Need a macro.
(lambda (x) (and (< x value) (list x))))
(defun generate-eq (value)
(lambda (x) (and (eq x value) (list x))))
(defun generate-gt (value)
(lambda (x) (and (> x value) (list x))))
(defun quicksort (list)
(if (<= (length list) 1)
list
(let ((pivot (nth (truncate (/ (length list) 2.0)) list)))
(append (quicksort (mapcan (generate-lt pivot) list))
(mapcan (generate-eq pivot) list )
(quicksort (mapcan (generate-gt pivot) list))))))
(defmacro generate-comparator (value fn)Looks elegant, but can we make this even more concise?
`(lambda (x) (and (,fn x ,value) (list x))))
(defun quicksort (list)
(if (<= (length list) 1)
list
(let ((pivot (nth (truncate (/ (length list) 2.0)) list)))
(append (quicksort (mapcan (generate-comparator pivot <) list))
(mapcan (generate-comparator pivot eq) list )
(quicksort (mapcan (generate-comparator pivot >) list))))))
(defun quicksort (list)Seven lines of condensed confusion. Not to mention wreaking havoc with the layout of the blog.
(if (<= (length list) 1)
list
(let ((pivot (nth (truncate (/ (length list) 2.0)) list)))
(append (quicksort (mapcan (lambda (x) (and (< x pivot) (list x))) list))
(mapcan (lambda (x) (and (eq x pivot) (list x))) list)
(quicksort (mapcan (lambda (x) (and (> x pivot) (list x))) list))))))
(defun quicksort (list)
(if (<= (length list) 1)
list
(let ((pivot (first list)))
(nconc (quicksort (remove-if #'(lambda (x) (>= x pivot)) list))
(remove-if #'(lambda (x) (not (= x pivot))) list)
(quicksort (remove-if #'(lambda (x) (<= x pivot)) list))))))
Instead of avoiding challenges, jump into them. Beat the heck out of them. Enjoy the game. If your challenges are too large or too numerous, do not give up. Failing makes you tired. Instead, reorganize. Find more determination, more knowledge, more help. If you have met your goals, set some bigger goals. Once you meet your personal or family needs, move onto goals for your group, the society, even mankind.That's all very well, but there's another -- admittedly pessimistic -- way of looking at it, from the perspective of the poor fish: no matter what you do, nothing matters in the end; you will end up getting eaten anyway, so you might as well surrender to the shark and get it over with ("Oh, these poor humans will end up with not-so-great-tasting fish? Bite me").
Don't create success and lie in it. You have resources, skills and abilities to make a difference." So, put a shark in your tank and see how far you can really go!
I was (re)reading Paul Graham's older essays [*], and was thinking about his contention that one can get ideas for startups just by reading a business newspaper for a week.
Well, I didn't do that, but here's an idea all the same.
The IT Department has taken to electronic filing of tax returns in a big way, and have published an XML schema for this, in addition to launching web services for consuming the electronic filings.
I have been using this system for filing my returns, and have found the procedures in place quite cumbersome -- last year it was Adobe Reader , with all its quirks and bugs, while this year it's an Excel document that serves the same purpose, though not very well.
Now, if somebody comes up with a tool that does this job in a more user-friendly manner, I'm sure there would be takers. Mind you, the tool would not be very complicated, so one cannot charge more than, say, 50 bucks for it, but there's still some money to be made.
There is already a web-based solution for this (taxsmile.com), but it involves storing your personal finance data in somebody else's servers. The tool I have in mind will be a purely client-side solution, one that will simply take your data and create an XML version of it that you can upload to the IT department's website yourself. What the hell, one might even go all the way and put in the functionality to upload the XML file as well.
Things like piracy, ease of installation (think applets) are to be worked out, but hey, this is just a blog post, not a pitch to a VC.
[*] I know, I said earlier that I had stopped reading them, but his essays keep appearing on Reddit's front page, and let me be honest -- he does write well, and makes you question a lot of things.
I guess I need to pause here briefly to fend off a barrage of e-mails railing against my ‘racist’ reference to Barack Obama as a “whitish black guy.” For the record, I am not suggesting here that a black man cannot be articulate and well groomed. No, what I am suggesting is that what is fundamentally racist here is the fact that Mr. Obama is universally referred to as “Black” or “African-American” despite the fact that, according to my exacting mathematical calculations, he is actually precisely ½ black and ½ white. Wouldn’t it then be just as accurate to refer to Obama as “White” or “European-American”? Why is he disqualified from inclusion in the Caucasian ‘race’ even though he is every bit as white as he is black? In labeling him as “black,” aren’t we really saying that his bloodline is tainted? Aren’t we saying that, even though he has Caucasian blood, it isn’t pure enough for inclusion in the Master Race?
What about those who argue that speculative excess is the only way to explain the speed with which oil prices have risen? Well, I have two words for them: iron ore.If the emerging economies continue to grow at more or less the same pace as for the last two or three years (and, in fact, are even slowing down, like in the case of India), where is this alleged "growing demand" coming from?
You see, iron ore isn’t traded on a global exchange; its price is set in direct deals between producers and consumers. So there’s no easy way to speculate on ore prices. Yet the price of iron ore, like that of oil, has surged over the past year. In particular, the price Chinese steel makers pay to Australian mines has just jumped 96 per cent. This suggests that growing demand from emerging economies, not speculation, is the real story behind rising prices of raw materials, oil included.