I think that one of the greatest things about Barack Obama running for president aside from the fact that I believe an Obama presidency will be a boon for the World is that it has elicited such heartwarming tales and moments like above.
The chickens have come home to roost for a number of hedge funds who had been short selling Volkswagen shares as Porsche announced that in addition to the 44% of shares it already had in the company it had secured 31% through cash-settled call options.
News like this would normally be only a minor problem for the short sellers however since the German state of Lower Saxony holds just over 20% of VW, Porsche’s disclosure meant that, in fact, there were only 5% of VW’s shares left on the market, whereas traders were shorting for about 13% of those shares! [via]
All day yesterday, the panic to get out compounded the situation: at one stage, VW temporarily became the world’s biggest company by market value.
As the losses have grown, so has the indignation. The hedge funds feel unfairly caught out. VW has been a popular “short”.
This news brought a little smile to my face.
BBC News reports that India’s Sachin Tendulkar has set a new record for the most runs scored by a batsman in Test cricket, overtaking the mark set by West Indies’ Brian Lara.
Tendulkar, 35, scored the 15 extra runs he needed to overtake Lara’s aggregate of 11,953 on day one of the second Test against Australia in Mohali.
Since regaining his form and ensuring his continued presence in the Test side there has been some inevitability that he would break Lara’s record. I and about half a billion people on the subcontinent congratulate him on this record breaking feat.
Bay Area Rapid Transit (BART) managers admonished for ridiculous linking of sippy cup usage to terrorism.
Added Director Tom Radulovich, “If somebody wants to break the law and bring flammable liquids on, they can. It’s not like al Qaeda is waiting in their caves for us to have a sippy-cup rule.”
Directing his comments to BART administrators, he said, “You know, it’s just fearmongering and you should be ashamed.”
[via]
Perhaps they should have read these security maxims. [via]
Really excellent list and a must read for anyone interested in issues of security, most are applicable to IT security too.
Current Home Secretary Jacqui Smith says that in order to keep up with technology that the police and security services need new powers and that an expansion of surveillance is necessary.
The proposed database will hold for two years details of all communications, not however the content just data about the communications i.e. who, when and how long.
BBC News: Giant database plan ‘Orwellian’
The Telegraph: Social networking sites to be snooped on by security services
Chris Huhne, Liberal Democrat home affairs spokesman, added: “The Government’s Orwellian plans for a vast database of our private communications are deeply worrying. I hope that this consultation is not just a sham exercise to soft-soap an unsuspecting public.”
Guy Herbert, from campaign group NO2ID, said: “The Home Secretary talks about ‘principles’ but the only principle she appears to be acquainted with is convenience for the stalker state.
I too have concerns about this proposal. Presumably the idea is that criminals and terrorists even if they are smart enough not to discuss their illegal activities over telephones or via email will communicate with their associates. The database will allow investigators to map these networks of associates and open up new areas of investigation and discover new suspects.
But the vast majority of Britons are not terrorists or criminals so the database will mostly consist of data that is of no use to the police or the security services but would be to criminals who could use the data to aid in identity theft. Frankly I have no faith in the government’s ability to safeguard this data.
Say Hebbo! from Torvakian on Vimeo.
Sod Tarvuism I’m converting to Barvuism.
Or to be more precise the Barvuist sect Temelmenty Barvul. Who could say not to the practice of free sex? And why not spend one’s Sundays blowing loudly through whistles to ward off Tarvu?
