A growing body of research suggests that maintaining an attitude of gratitude can improve psychological, emotional and physical well-being.
Adults who frequently feel grateful have more energy, more optimism, more social connections and more happiness than those who do not, according to studies conducted over the past decade. They're also less likely to be depressed, envious, greedy or alcoholics. They earn more money, sleep more soundly, exercise more regularly and have greater resistance to viral infections.
Now, researchers are finding that gratitude brings similar benefits in children and adolescents. Kids who feel and act grateful tend to be less materialistic, get better grades, set higher goals, complain of fewer headaches and stomach aches and feel more satisfied with their friends, families and schools than those who don't, studies show.
'A lot of these findings are things we learned in kindergarten or our grandmothers told us, but we now have scientific evidence to prove them,' says Jeffrey J. Froh, an assistant professor of psychology at Hofstra University in Hempstead, N.Y., who has conducted much of the research with children.
'The key is not to leave it on the Thanksgiving table,' says Robert Emmons, a professor of psychology at the University of California-Davis and a pioneer in gratitude research. And, he notes, 'with the realization that one has benefited comes the awareness of the need to reciprocate.'
It's possible, of course, to over-do expressions of gratitude, particularly if you try to show it with a gift. 'Thanking someone in such a way that is disproportionate to the relationship -- say, a student giving her teacher an iPod -- will create resentment, guilt, anger and a sense of obligation,' says Dr. Froh.
Gratitude can also be misused to exert control over the receiver and enforce loyalty. Dr. Froh says you can avoid this by being empathic toward the person you are thanking -- and by honestly assessing your motivations.
In an upcoming paper in the Journal of Happiness Studies, Dr. Froh and colleagues surveyed 1,035 high-school students and found that the most grateful had more friends and higher GPAs, while the most materialistic had lower grades, higher levels of envy and less satisfaction with life. 'One of the best cures for materialism is to make somebody grateful for what they have,' says Dr. Froh.
Thursday, November 25, 2010
Tuesday, November 23, 2010
As the rise of Apple Inc.'s iPad and other tablets threatens its low-cost laptop business
The world's second-biggest PC maker by shipments said Tuesday it will release in February a tablet running Microsoft Corp.'s Windows software with a 10.1 inch screen.
Acer will also release two tablets using Google Inc.'s Android software in April, one with a 7-inch screen and one with a 10.1-inch screen.
In addition, executives at the Taiwan company unveiled a portable computer with two touchscreens dubbed the Iconia Touchbook. The laptop opens to reveal a second touchscreen in place of a keyboard. The product will be launched in the U.S. and some European countries in December and will retail for $1,499.
Acer, which had unveiled plans for tablet-style machines in May, is the latest company to jump into the increasingly crowded tablet market after Apple's iPad, released in April, attracted strong consumer demand. Samsung Electronics Co., BlackBerry maker Research In Motion Ltd. and Hewlett-Packard Co., have also announced plans to introduce tablets.
Jim Wong, an Acer senior corporate vice president, said he expects 40 million to 50 million world-wide tablet unit sales next year, with hopes Acer will gain 10% market share.
For two years, Acer has relied on netbooks -- tiny, low-priced laptops -- to propel growth. The company's products, especially its Aspire One, proved so popular, Acer vaulted over Dell Inc. to become the No. 2 PC maker behind Hewlett-Packard.
But worries have emerged that the popularity of the iPad and other tablets could eat into netbook sales. After tripling to $14.3 billion in 2009, netbook sales are expected to slip nearly 2% this year, according to research firm IDC. In 2011, the market is expected to shrink further.
Acer didn't provide details about pricing for its tablets during its product event in New York. But in an interview after the event Jenda Chen, director of product management at Acer America, said the 7-inch Android tablet will likely sell for $399 to $499, while the larger Android model will most likely be priced between $399 and $649.
Acer will also release two tablets using Google Inc.'s Android software in April, one with a 7-inch screen and one with a 10.1-inch screen.
In addition, executives at the Taiwan company unveiled a portable computer with two touchscreens dubbed the Iconia Touchbook. The laptop opens to reveal a second touchscreen in place of a keyboard. The product will be launched in the U.S. and some European countries in December and will retail for $1,499.
Acer, which had unveiled plans for tablet-style machines in May, is the latest company to jump into the increasingly crowded tablet market after Apple's iPad, released in April, attracted strong consumer demand. Samsung Electronics Co., BlackBerry maker Research In Motion Ltd. and Hewlett-Packard Co., have also announced plans to introduce tablets.
Jim Wong, an Acer senior corporate vice president, said he expects 40 million to 50 million world-wide tablet unit sales next year, with hopes Acer will gain 10% market share.
For two years, Acer has relied on netbooks -- tiny, low-priced laptops -- to propel growth. The company's products, especially its Aspire One, proved so popular, Acer vaulted over Dell Inc. to become the No. 2 PC maker behind Hewlett-Packard.
But worries have emerged that the popularity of the iPad and other tablets could eat into netbook sales. After tripling to $14.3 billion in 2009, netbook sales are expected to slip nearly 2% this year, according to research firm IDC. In 2011, the market is expected to shrink further.
Acer didn't provide details about pricing for its tablets during its product event in New York. But in an interview after the event Jenda Chen, director of product management at Acer America, said the 7-inch Android tablet will likely sell for $399 to $499, while the larger Android model will most likely be priced between $399 and $649.
The Nevada Supreme Court threw out a lower court's decision to award $58.6 million to a Hong Kong businessman for allegedly
In 2008, a jury decided Richard Suen should be paid for helping arrange meetings in Beijing between company executives and Chinese officials, which he said led to the gambling company's 2002 receipt of a coveted license to operate casinos in Macau. The Chinese territory, on track this year to rake in four times the gambling revenue of the Las Vegas Strip, is now home to three casinos run by Las Vegas Sands unit Sands China Ltd.
Las Vegas Sands spokesman Ron Reese said, 'The company hasn't yet had an opportunity to thoroughly review the details, but obviously we're pleased with the result.'
Mr. Suen couldn't immediately be reached for comment.
Las Vegas Sands paid $42.5 million in June 2009 to settle a dispute with three other businessmen who had claimed they helped the company secure its Macau license.
Las Vegas Sands spokesman Ron Reese said, 'The company hasn't yet had an opportunity to thoroughly review the details, but obviously we're pleased with the result.'
Mr. Suen couldn't immediately be reached for comment.
Las Vegas Sands paid $42.5 million in June 2009 to settle a dispute with three other businessmen who had claimed they helped the company secure its Macau license.
Monday, November 22, 2010
Really fascinating to see the tug-of-war between the policy makers in China and the U.S. gather steam this morning
For those who haven’t been paying attention, the Fed is flooring the gas pedal to try to get the U.S. economy moving, by essentially creating money electronically and using it to buy U.S. Treasurys. (That’s the QE policy everybody has been talking about.)
Meanwhile, on the other side of the world the Chinese are trying to dam up the flood of liquidity that’s been pouring into their economy ─ in part because of the Fed’s easy money policy. That wave of cash is putting upward pressure on prices there.
But isn’t this a global economy? How can the top economy wonks in the two largest economies in the world have such a fundamentally different view where policy needs to go? In a word: Food.
The Fed’s QE policies are weakening the dollar. And the weak dollar has been driving food commodity prices higher. But that means very different things in the U.S. and China. Morgan Stanley economist Richard Berner churned out a good piece running down whether food inflation would be a serious hit to consumers in the U.S. and emerging markets. He writes:
Yes, but to a limited extent, reflecting the relatively small share of food (and energy) in [U.S.] consumer budgets. Admittedly, a jump to, say, 6% food inflation would take a significant bite out of consumer budgets: It would add 0.4-0.5% to the inflation rate and take a similar amount from real spendable income, at a time when such income is growing by only about 2%.
It’s worth noting that in emerging markets, the story is different: The weight of food and energy in consumer budgets and price indexes is at least twice as large as in the U.S. and other developed economies, so the impact on budgets is more substantial. Likewise, the influence on inflation expectations in EM economies is more pronounced. In the context of their strong growth, smaller margins of economic slack, and still accommodative monetary policy, the upside inflation risks in those economies are genuine.
Now you might ask, why is fending off inflation such a priority for China. Back in January, the Journal’s James Areddy explained that sensitivity to inflation runs deep in China ─ a reminder of how poor the country remains, with the price of pork, for instance, remaining a major consideration in household finances.
Meanwhile, on the other side of the world the Chinese are trying to dam up the flood of liquidity that’s been pouring into their economy ─ in part because of the Fed’s easy money policy. That wave of cash is putting upward pressure on prices there.
But isn’t this a global economy? How can the top economy wonks in the two largest economies in the world have such a fundamentally different view where policy needs to go? In a word: Food.
The Fed’s QE policies are weakening the dollar. And the weak dollar has been driving food commodity prices higher. But that means very different things in the U.S. and China. Morgan Stanley economist Richard Berner churned out a good piece running down whether food inflation would be a serious hit to consumers in the U.S. and emerging markets. He writes:
Yes, but to a limited extent, reflecting the relatively small share of food (and energy) in [U.S.] consumer budgets. Admittedly, a jump to, say, 6% food inflation would take a significant bite out of consumer budgets: It would add 0.4-0.5% to the inflation rate and take a similar amount from real spendable income, at a time when such income is growing by only about 2%.
It’s worth noting that in emerging markets, the story is different: The weight of food and energy in consumer budgets and price indexes is at least twice as large as in the U.S. and other developed economies, so the impact on budgets is more substantial. Likewise, the influence on inflation expectations in EM economies is more pronounced. In the context of their strong growth, smaller margins of economic slack, and still accommodative monetary policy, the upside inflation risks in those economies are genuine.
Now you might ask, why is fending off inflation such a priority for China. Back in January, the Journal’s James Areddy explained that sensitivity to inflation runs deep in China ─ a reminder of how poor the country remains, with the price of pork, for instance, remaining a major consideration in household finances.
Saturday, November 20, 2010
Macau has overtaken Las Vegas as the gambling capital of the world
The people at Playboy Enterprises want to change that.
Playboy - that he-man brand created in the 1950s by Hugh Hefner that's best known in the West for its magazine - is betting big that its kind of glamour will sell well in this part of Asia. The company is opening its second club, a 1,115-square-meter club in Macau on the penthouse level of the Sands Macau Hotel (its other club is in Las Vegas). There's more in the works: A 2,787-square-meter mansion is planned for Macau in 2012.
But first, Playboy will go looking for bunnies.
We're talking Playboy Bunnies, of course - women clad in skimpy costumes, complete with tight corsets, a tuxedo collar, bunny ears and a cottontail. On Friday, the club hosted a casting call to find the 20 bunnies they need for opening day (scheduled for Nov. 20). According to the organizers, around 600 women from around the world have already applied. Friday's bunny-hunt event was a chance for some of the final candidates to be interviewed, presented to the press, and to have their pictures taken in their swimsuits. The final roster will be announced later.
Denise Pernula, a former bunny and model who posed for the magazine as Miss November 2007, flew from Wyoming to serve as one of the judges. As a bunny for the Playboy club in Las Vegas, which opened in 2006, she says she understands the pressure. The women will be under 'a lot of…stress' to land the job, she says. 'They have to be intelligent, charming, attractive.' As for physique? 'All bunnies come in different shapes and sizes,' she added.
The original Playboy Bunnies were waitresses at the many clubs the company used to run but shut down in the late 1980s. The Bunnies came under fire from many critics, including the feminist Gloria Steinem, who derided the selection and training process - where looks trumped all - as degrading.
In Macau, Playboy is banking on sex appeal, of course. But Reggie Martin, the club's general manager, says that the Macau club will be tailored to its clientele.
'The Asian market is very different from the U.S. market,' said Mr. Martin, an American from Indiana who has lived in Macau for eight years. 'It won't be as crazy as Las Vegas. More chill. Las Vegas has a lot of college-aged people while Macau has more of a mature crowd. It also draws more of a local crowd than a tourist crowd.'
He later added, 'We really want to establish Macau as more than just a gaming destination.'
While Playboy is ingrained in American pop culture and synonymous with sex appeal, in China it has a different image - as a fashion line. The magazine is not sold in China, where pornography is banned, though Playboy has sold clothing with its bunny logo in the mainland for about 20 years. Chinese firewalls keep Playboy's website at bay.
'The Chinese think of us as an American fashion brand,' said Jeff Dougherty, vice president of marketing license group at Playboy. 'But we think they'll be lured by the brand to the club.'
And by the bunnies, of course. Candidates for the job will be interviewed in swimsuits. And Mr. Dougherty said one of the obvious requirements for the job is 'to look terrific in the bunny costume.'
Once the staff is picked, they'll be central to the club and to its identity, just like in its previous ones. 'No matter what time you're in the club, there will be a bunny,' said Mr. Martin. 'Guaranteed.'
Playboy - that he-man brand created in the 1950s by Hugh Hefner that's best known in the West for its magazine - is betting big that its kind of glamour will sell well in this part of Asia. The company is opening its second club, a 1,115-square-meter club in Macau on the penthouse level of the Sands Macau Hotel (its other club is in Las Vegas). There's more in the works: A 2,787-square-meter mansion is planned for Macau in 2012.
But first, Playboy will go looking for bunnies.
We're talking Playboy Bunnies, of course - women clad in skimpy costumes, complete with tight corsets, a tuxedo collar, bunny ears and a cottontail. On Friday, the club hosted a casting call to find the 20 bunnies they need for opening day (scheduled for Nov. 20). According to the organizers, around 600 women from around the world have already applied. Friday's bunny-hunt event was a chance for some of the final candidates to be interviewed, presented to the press, and to have their pictures taken in their swimsuits. The final roster will be announced later.
Denise Pernula, a former bunny and model who posed for the magazine as Miss November 2007, flew from Wyoming to serve as one of the judges. As a bunny for the Playboy club in Las Vegas, which opened in 2006, she says she understands the pressure. The women will be under 'a lot of…stress' to land the job, she says. 'They have to be intelligent, charming, attractive.' As for physique? 'All bunnies come in different shapes and sizes,' she added.
The original Playboy Bunnies were waitresses at the many clubs the company used to run but shut down in the late 1980s. The Bunnies came under fire from many critics, including the feminist Gloria Steinem, who derided the selection and training process - where looks trumped all - as degrading.
In Macau, Playboy is banking on sex appeal, of course. But Reggie Martin, the club's general manager, says that the Macau club will be tailored to its clientele.
'The Asian market is very different from the U.S. market,' said Mr. Martin, an American from Indiana who has lived in Macau for eight years. 'It won't be as crazy as Las Vegas. More chill. Las Vegas has a lot of college-aged people while Macau has more of a mature crowd. It also draws more of a local crowd than a tourist crowd.'
He later added, 'We really want to establish Macau as more than just a gaming destination.'
While Playboy is ingrained in American pop culture and synonymous with sex appeal, in China it has a different image - as a fashion line. The magazine is not sold in China, where pornography is banned, though Playboy has sold clothing with its bunny logo in the mainland for about 20 years. Chinese firewalls keep Playboy's website at bay.
'The Chinese think of us as an American fashion brand,' said Jeff Dougherty, vice president of marketing license group at Playboy. 'But we think they'll be lured by the brand to the club.'
And by the bunnies, of course. Candidates for the job will be interviewed in swimsuits. And Mr. Dougherty said one of the obvious requirements for the job is 'to look terrific in the bunny costume.'
Once the staff is picked, they'll be central to the club and to its identity, just like in its previous ones. 'No matter what time you're in the club, there will be a bunny,' said Mr. Martin. 'Guaranteed.'
Friday, November 19, 2010
Hong Kong, get ready -- the U.S. Navy is in town
The USS Essex, an amphibious assault ship, is docked in Victoria Harbour this week for a 'liberty stop' รข '- a break for the 2,200 sailors and marines who will spend their days shopping and their nights in Hong Kong's restaurants and bars.
The ship's arrival comes on the heels of a trade initiativeannounced Monday to boost commerce between the U.S. and Hong Kong. The visit also suggests a thawing of relations between Beijing and Washington since January, when China froze military relations to protest the U.S. decision to sell up to $6.4 billion in arms to Taiwan. Several high-level Chinese military officials attended a reception on the USS Essex this Wednesday.
For the troops, Hong Kong is mainly the welcome vacation spot it has long been after months at sea or on 'work stops.' But there are still some patriotic duties to fulfill. U.S. Consul General to Hong Kong Stephen Young gave one order to the troops on board the Essex: 'We hope that you will shop for your country.' Unfortunately for Mr. Young, few of them appeared to be rushing out to buy American goods.
We spoke to five U.S. servicemen and women about their plans in Hong Kong.
Lars Ehrlander, 34, Navy lieutenant commander
'We are here to have a good time,' he said. 'We try to promote better understanding and experience other cultures.' Mr. Ehrlander said Hong Kong is one of his favorite places to visit. 'The food's the most fun for me. There's so much variety here.' So far, he has visited Stanley Market to find a gift for his wife.
Lucy Mason, 24, Navy ensign
'I don't get to wear civilian clothes often, but when I do, I like nice things,' she said. Ms. Mason visited Hong Kong once when she was 14, but is relying on her more experienced peers for 'good insider information.' She is looking forward to shopping at the Night Market, running in the parks and afternoon tea at the Peninsula hotel.
Marcus Williams, 41, Navy aircraft handler
'I didn't know Hong Kong was this big,' Mr. Williams said. 'I want to meet people and see the scenery.' On his list is spending time at Lan Kwai Fong ('I hear LKF is a nice time') and the Peak.
Kelvin Sanchez, 36, Navy aircraft handler
Mr. Sanchez, who has been to Hong Kong twice before, is looking forward to rest. 'The last two times, I got plenty of souvenirs,' he said. 'This time, I'm just relaxing.'
The ship's arrival comes on the heels of a trade initiativeannounced Monday to boost commerce between the U.S. and Hong Kong. The visit also suggests a thawing of relations between Beijing and Washington since January, when China froze military relations to protest the U.S. decision to sell up to $6.4 billion in arms to Taiwan. Several high-level Chinese military officials attended a reception on the USS Essex this Wednesday.
For the troops, Hong Kong is mainly the welcome vacation spot it has long been after months at sea or on 'work stops.' But there are still some patriotic duties to fulfill. U.S. Consul General to Hong Kong Stephen Young gave one order to the troops on board the Essex: 'We hope that you will shop for your country.' Unfortunately for Mr. Young, few of them appeared to be rushing out to buy American goods.
We spoke to five U.S. servicemen and women about their plans in Hong Kong.
Lars Ehrlander, 34, Navy lieutenant commander
'We are here to have a good time,' he said. 'We try to promote better understanding and experience other cultures.' Mr. Ehrlander said Hong Kong is one of his favorite places to visit. 'The food's the most fun for me. There's so much variety here.' So far, he has visited Stanley Market to find a gift for his wife.
Lucy Mason, 24, Navy ensign
'I don't get to wear civilian clothes often, but when I do, I like nice things,' she said. Ms. Mason visited Hong Kong once when she was 14, but is relying on her more experienced peers for 'good insider information.' She is looking forward to shopping at the Night Market, running in the parks and afternoon tea at the Peninsula hotel.
Marcus Williams, 41, Navy aircraft handler
'I didn't know Hong Kong was this big,' Mr. Williams said. 'I want to meet people and see the scenery.' On his list is spending time at Lan Kwai Fong ('I hear LKF is a nice time') and the Peak.
Kelvin Sanchez, 36, Navy aircraft handler
Mr. Sanchez, who has been to Hong Kong twice before, is looking forward to rest. 'The last two times, I got plenty of souvenirs,' he said. 'This time, I'm just relaxing.'
Wednesday, November 17, 2010
The concierge business for all it is high-priced aura is actually quite mundane
It is about as satisfying the daily needs and whims of the wealthy, from getting concert tickets and restaurant reservations to household staffing and travel bookings.
But one London concierge company is spicing things up a bit. They are touting their all-female and not unattractive staff.
An article in Forbes by Hannah Elliott says Concierge has a 'highly trained force of femmes fatales' who cater to the firm's wealthy clients. 'It's Charlie's Angels meets Miss Moneypenny,' the article says. Or just an army of real-life Bond Girls.
Concierge's customers pay $20,000 a year, plus $80 an hour for the company's services. The Concierge femmes might help 'buy, renovate and decorate a home in the Scottish Highlands or cook brunch for 20 in Ibiza when the private chef shows up drunk,' the article says.
The company only hires female employees because 'women more often possess the skills required to predict and fulfill the most minute client needs,' according to CEO Flora White.
Clients say their appearance doesn't hurt.
'Perhaps this sounds awful but the girls look fantastic,' said India Jane Birley, a Concierge member and daughter of a nightclub mogul. 'If you passed them in the street, you'd say, 'What a nice-looking girl.' They've got nice clothes and are incredibly well-mannered.'
The women also have to be determined. They endure a rigorous interview process that involves time-trials for planning such events as a Napa Valley, Calif., family vacation or a dinner for a VIP. Once hired, their assignments can be challenging. Whether they can survive a pool full of piranhas is unclear. But Philippa Hose, a tall, blonde Concierge employee, had to scale a security fence while wearing a pencil skirt and heels in order to disable a client's alarm system during a storm.
Ms. Hose says she has one main ground rule: never be rude. 'You must be someone who is charming,' she says.
Will the Bond Girl strategy work? Perhaps. These are uncertain times for the increasingly competitive concierge business, which exploded during the boom times but now is grappling with a customer base that is increasingly careful about its spending. Any thing that helps a business stand out is, I'm sure, helpful.
But one London concierge company is spicing things up a bit. They are touting their all-female and not unattractive staff.
An article in Forbes by Hannah Elliott says Concierge has a 'highly trained force of femmes fatales' who cater to the firm's wealthy clients. 'It's Charlie's Angels meets Miss Moneypenny,' the article says. Or just an army of real-life Bond Girls.
Concierge's customers pay $20,000 a year, plus $80 an hour for the company's services. The Concierge femmes might help 'buy, renovate and decorate a home in the Scottish Highlands or cook brunch for 20 in Ibiza when the private chef shows up drunk,' the article says.
The company only hires female employees because 'women more often possess the skills required to predict and fulfill the most minute client needs,' according to CEO Flora White.
Clients say their appearance doesn't hurt.
'Perhaps this sounds awful but the girls look fantastic,' said India Jane Birley, a Concierge member and daughter of a nightclub mogul. 'If you passed them in the street, you'd say, 'What a nice-looking girl.' They've got nice clothes and are incredibly well-mannered.'
The women also have to be determined. They endure a rigorous interview process that involves time-trials for planning such events as a Napa Valley, Calif., family vacation or a dinner for a VIP. Once hired, their assignments can be challenging. Whether they can survive a pool full of piranhas is unclear. But Philippa Hose, a tall, blonde Concierge employee, had to scale a security fence while wearing a pencil skirt and heels in order to disable a client's alarm system during a storm.
Ms. Hose says she has one main ground rule: never be rude. 'You must be someone who is charming,' she says.
Will the Bond Girl strategy work? Perhaps. These are uncertain times for the increasingly competitive concierge business, which exploded during the boom times but now is grappling with a customer base that is increasingly careful about its spending. Any thing that helps a business stand out is, I'm sure, helpful.
Tuesday, November 16, 2010
The head of China's leading web portal said Tuesday that he is confident the company's Twitter-like microblogging service will be a profitable business
Speaking at a conference for third-party developers in Beijing, Sina CEO Charles Chaosaid he hopes the service, Sina Weibo, will one day grow large enough to become the company's largest source of revenue.
Globally, microblogging has yet to be provenas a successful business model. Sina Weibo's older, U.S.-based counterpart, Twitter, has been testing advertising models such as selling Promoted Tweets, or microblog entries that are highlighted when users search for keywords on Twitter, but has yet to turn the popular service into a highly profitable enterprise.
Chao said Sina is still researching potential advertising models, but is currently more focused on building its userbase and platform.
The company hopes the developers Chao was addressing will create software applications for both mobile devices and computers around Sina Weibo. Existing applications include Sina Weibo clients for Apple's iPhones and phones running Google's Android, as well as an application that integrates Chinese location-based social networking service Jiepang, which operates similarly to FourSquare. There is also software through which users can access their Sina microblogs through e-readers.
Chao said more than 40% of Sina Weibo users access the service through the network of China's largest mobile carrier, China Mobile, and that he expects this percentage to grow. The company is working with handset vendors and mobile platforms to promote related mobile applications.
Sina, which recently announced a partnershipwith a joint-venture company of Microsoft, also announced at the conference that Sina Weibo has so far attracted 50 million users who collectively post 25 million comments per day. The company says an average of 10 million new users have signed up for the service per month since August of this year.
Analysts say it is the largest service of its kind in China. The company has said it hopes the service, which launched in 2009, will reach 100 million users next. In comparison, Twitter launched in 2006 and had more than 160 million users worldwide as of September.
Twitter has been blocked in China for over a year as part of the Chinese government's efforts to regulate Internet use, but has a small following of tech-savvy users, including a number of political dissidents, who access the website through circumvention technology. Content posted to Sina Weibo undergoes filtering by Sina itself, in accordance with regulations that require all Chinese Internet companies to police their websites and remove objectionable content.
Even so, many vibrant discussions of controversial topics can still be found on the Sina service. Chinese Internet watchers say this is in part because Sina Weibo has significantly sped up the spread of news online, making it tougherfor government censors to clamp down.
Similar to Twitter, Sina Weibo users post short entries to their profiles, and can follow and interact with other users. And as with Twitter, Sina Weibo has attracted large numbers of celebrities and thought leaders.
But the site has a number of features that Twitter doesn't have, including the ability to embed photos and videos into posts, and to comment on directly on people's microblogs. Meanwhile, Twitter is run indepedently while Sina Weibo can be integrated with Sina's other content.
Globally, microblogging has yet to be provenas a successful business model. Sina Weibo's older, U.S.-based counterpart, Twitter, has been testing advertising models such as selling Promoted Tweets, or microblog entries that are highlighted when users search for keywords on Twitter, but has yet to turn the popular service into a highly profitable enterprise.
Chao said Sina is still researching potential advertising models, but is currently more focused on building its userbase and platform.
The company hopes the developers Chao was addressing will create software applications for both mobile devices and computers around Sina Weibo. Existing applications include Sina Weibo clients for Apple's iPhones and phones running Google's Android, as well as an application that integrates Chinese location-based social networking service Jiepang, which operates similarly to FourSquare. There is also software through which users can access their Sina microblogs through e-readers.
Chao said more than 40% of Sina Weibo users access the service through the network of China's largest mobile carrier, China Mobile, and that he expects this percentage to grow. The company is working with handset vendors and mobile platforms to promote related mobile applications.
Sina, which recently announced a partnershipwith a joint-venture company of Microsoft, also announced at the conference that Sina Weibo has so far attracted 50 million users who collectively post 25 million comments per day. The company says an average of 10 million new users have signed up for the service per month since August of this year.
Analysts say it is the largest service of its kind in China. The company has said it hopes the service, which launched in 2009, will reach 100 million users next. In comparison, Twitter launched in 2006 and had more than 160 million users worldwide as of September.
Twitter has been blocked in China for over a year as part of the Chinese government's efforts to regulate Internet use, but has a small following of tech-savvy users, including a number of political dissidents, who access the website through circumvention technology. Content posted to Sina Weibo undergoes filtering by Sina itself, in accordance with regulations that require all Chinese Internet companies to police their websites and remove objectionable content.
Even so, many vibrant discussions of controversial topics can still be found on the Sina service. Chinese Internet watchers say this is in part because Sina Weibo has significantly sped up the spread of news online, making it tougherfor government censors to clamp down.
Similar to Twitter, Sina Weibo users post short entries to their profiles, and can follow and interact with other users. And as with Twitter, Sina Weibo has attracted large numbers of celebrities and thought leaders.
But the site has a number of features that Twitter doesn't have, including the ability to embed photos and videos into posts, and to comment on directly on people's microblogs. Meanwhile, Twitter is run indepedently while Sina Weibo can be integrated with Sina's other content.
Monday, November 15, 2010
No time? Less money? Time for a mini-vacation
If this languishing economy has left you pressed for time and short of money, you might consider stretching that relaxing getaway into bite-sized breaks.
Experts say mini-vacations, brief holidays of four days or less, offer today's traveler a restorative pause without the pressure or expense of a long journey.
"The mini-vacation is a fantastic way of changing the scene without breaking the bank," said Amelie Hurst of travel website TripAdvisor.
"The trip you spend 12 months planning and pouring all your budget into has to live up to a dream," she explained. "With a mini-vacation travelers can find themselves more ready to go with the flow."
In a recent Trip Advisor poll of almost 1,700 Americans, 22 percent said they opted to take shorter vacations of two-to-four days due to finances and six percent said it was due to vacation time.
Peter Yesawich, CEO of Ypartnership, which tracks travel trends, said the weekend getaway has reigned as the most popular American leisure trip for over a decade.
Last year, with the economy still stuck in the doldrums, it accounted for almost half of all U.S. vacations.
"To Americans a vacation is a birthright," said Yesawich. "It doesn't matter how low the Dow goes, how high the unemployment, the majority Americans are still taking vacations."
Yesawich said work habits reinvented vacation habits in the prosperous 1980s and 1990s, when employment rates were rising, along with the number of two-income households.
"Work habits began to constrain vacation habits," he said. "We became more beholden to work and that drove vacation around weekends."
Yesawich said the Internet accelerated the trend and the latest economic downturn sealed it.
"Prior to 1996 there was a sanctity to Saturday, but that has disappeared in this 24/7 environment," he said.
Genevieve Brown, of Travelocity, said autumn is traditionally a popular season for mini-vacations because the kids are back in school and families have less time.
"People are still committed to taking vacations, but they're watching travel dollars closely," Brown said. "Shorter vacations make sense."
Experts say mini-vacations, brief holidays of four days or less, offer today's traveler a restorative pause without the pressure or expense of a long journey.
"The mini-vacation is a fantastic way of changing the scene without breaking the bank," said Amelie Hurst of travel website TripAdvisor.
"The trip you spend 12 months planning and pouring all your budget into has to live up to a dream," she explained. "With a mini-vacation travelers can find themselves more ready to go with the flow."
In a recent Trip Advisor poll of almost 1,700 Americans, 22 percent said they opted to take shorter vacations of two-to-four days due to finances and six percent said it was due to vacation time.
Peter Yesawich, CEO of Ypartnership, which tracks travel trends, said the weekend getaway has reigned as the most popular American leisure trip for over a decade.
Last year, with the economy still stuck in the doldrums, it accounted for almost half of all U.S. vacations.
"To Americans a vacation is a birthright," said Yesawich. "It doesn't matter how low the Dow goes, how high the unemployment, the majority Americans are still taking vacations."
Yesawich said work habits reinvented vacation habits in the prosperous 1980s and 1990s, when employment rates were rising, along with the number of two-income households.
"Work habits began to constrain vacation habits," he said. "We became more beholden to work and that drove vacation around weekends."
Yesawich said the Internet accelerated the trend and the latest economic downturn sealed it.
"Prior to 1996 there was a sanctity to Saturday, but that has disappeared in this 24/7 environment," he said.
Genevieve Brown, of Travelocity, said autumn is traditionally a popular season for mini-vacations because the kids are back in school and families have less time.
"People are still committed to taking vacations, but they're watching travel dollars closely," Brown said. "Shorter vacations make sense."
Sunday, November 14, 2010
Kinect to the world of virtual game playing
Remember joysticks? Those old things you used to control your game characters? Microsoft is hoping that you’ll forget all about them this winter. Earlier this month, it unleashed Kinect, a controller-free motion-gaming device for the Xbox 360 console.
Remarkably, the device delivers on its promises. Kinect keeps much of the simplicity and charm that made the Nintendo Wii a hit. It also raises the bar for motion sensor devices. It is able to accurately map a player’s body and respond to their movements and even their voice commands.
Instead of using a physical controller to play games and movies on your Xbox 360, Kinect allows you to simply move your body–hands, feet, hips–to do everything.
Kinect uses an infrared light and a camera to create a 3-D image of your play area. Anyone in the camera’s frame is also included in the image. From this, it can recognize body shapes and movements. Finally, it can quickly match the players’ images to a Kinect or Xbox Live profile.
Kinect comes packaged with Kinect Adventures, a collection of sport and adventure games that make use of the Kinect motion camera. Multiple players can engage in challenges like a boat game (River Rush) and another game that combines dodgeball with bowling (Rally Ball).
And the games themselves are easy to learn and start playing. One example is Space Pop, where you flap your arms to fly in a low-gravity room and pop bubbles as they appear.
Motion-sensor gaming has now hit all three major gaming platforms. Nintendo’s Wii arrived first. Sony’s Move for PlayStation 3 added more realistic games, graphics and highly acute player control.
Perhaps Microsoft Kinect does not give players the control over their characters that the Move does. However, it is likely to result in a much wider variety of games for players to enjoy. Kinect offer gamers rich new possibilities. I will forever more feel a touch guilty while sitting in that well-worn corner of my couch to play a video game.
Remarkably, the device delivers on its promises. Kinect keeps much of the simplicity and charm that made the Nintendo Wii a hit. It also raises the bar for motion sensor devices. It is able to accurately map a player’s body and respond to their movements and even their voice commands.
Instead of using a physical controller to play games and movies on your Xbox 360, Kinect allows you to simply move your body–hands, feet, hips–to do everything.
Kinect uses an infrared light and a camera to create a 3-D image of your play area. Anyone in the camera’s frame is also included in the image. From this, it can recognize body shapes and movements. Finally, it can quickly match the players’ images to a Kinect or Xbox Live profile.
Kinect comes packaged with Kinect Adventures, a collection of sport and adventure games that make use of the Kinect motion camera. Multiple players can engage in challenges like a boat game (River Rush) and another game that combines dodgeball with bowling (Rally Ball).
And the games themselves are easy to learn and start playing. One example is Space Pop, where you flap your arms to fly in a low-gravity room and pop bubbles as they appear.
Motion-sensor gaming has now hit all three major gaming platforms. Nintendo’s Wii arrived first. Sony’s Move for PlayStation 3 added more realistic games, graphics and highly acute player control.
Perhaps Microsoft Kinect does not give players the control over their characters that the Move does. However, it is likely to result in a much wider variety of games for players to enjoy. Kinect offer gamers rich new possibilities. I will forever more feel a touch guilty while sitting in that well-worn corner of my couch to play a video game.
Wednesday, November 10, 2010
The Fed's latest 'quantitative easing' program is designed to bring down interest rates
Rates, which rise as the price falls, have risen lately as investors avoid U.S. government debt--including a new 30-year bond auctioned on Wednesday. That has generated market anxiety that the Federal Reserve has lost control of rates and inflation expectations.
But many observers are waiting for the Fed to at least start the program before making any judgments about it. The rise in yields on 30-year bonds hasn't been duplicated among shorter-duration bonds, which the Fed says it will focus on buying, and has been less pronounced for the more-important 10-year Treasury note, which is the benchmark for mortgages and corporate debt.
'It is premature to say that the Fed has failed or that this has backfired,' said David Ader, chief government bond strategist at CRT Capital. 'Logic tells me that, once the program gets under way and people are selling to the Fed, that rates will go lower, significantly so.'
That is the Fed's plan. The Fed last week committed to spending a total of $600 billion in freshly printed money on Treasurys before next June, effectively soaking up all of the new debt issued by the government.
The program of buying Treasurys is designed to keep Treasury yields low, thereby stimulating the economy and pushing investors into riskier assets such as stocks and corporate bonds. That's part of the Fed's state goal of fighting deflation.
The New York Fed will begin buying on Friday with purchases of $6 billion to $8 billion, according to a schedule released by the central bank on Wednesday. By Dec. 9 it plans to have bought about $105 billion in Treasurys, including a handful of Treasury Inflation-Protected Securities, or TIPS.
Having such a big, unflinching buyer in the market should keep prices high and yields low.
But the opposite has been happening lately. A Treasury auction of $16 billion in new 30-year bonds on Wednesday was poorly received, with the government having to pay a slightly higher yield than expected to attract buyers.
The 30-year Treasury bond's price has fallen nearly 12% since Aug. 26, just before Fed Chairman Ben Bernanke hinted at QE2 in a speech at Jackson Hole, Wyo. Its yield has jumped to 4.239% from 3.53% in that time, and at one point on Wednesday surged to the highest since May.
And Treasurys have weakened despite fresh fears about European sovereign debt, which in the past has been a boon to safe-haven U.S. government debt.
The weakness in the 30-year bond is not terribly surprising. The Fed has said it won't buy much 30-year debt. It stuck by that commitment in Wednesday's schedule, dedicating just about 4% of its purchasing power to longer-dated bonds.
Still, the 10-year Treasury note, which will get much more Fed attention, has suffered, too. Since Aug. 26, the 10-year note yield has risen to 2.657% from 2.50%.
The 10-year yield is of more practical importance to the Fed, given its influence on mortgage rates and other borrowing costs.
Some argue that the rising interest rates are a sign that the Fed may be doing too much and that inflation will come more quickly than it wants.
'Credibility is essential for a central bank to achieve its goals, and it appears the interpretation of the Fed's intentions has already rendered such activity ineffective,' Russ Certo, co-head of rates trading at Gleacher & Co., said in a note, 'and this is before it has even started.'
But many observers are waiting for the Fed to at least start the program before making any judgments about it. The rise in yields on 30-year bonds hasn't been duplicated among shorter-duration bonds, which the Fed says it will focus on buying, and has been less pronounced for the more-important 10-year Treasury note, which is the benchmark for mortgages and corporate debt.
'It is premature to say that the Fed has failed or that this has backfired,' said David Ader, chief government bond strategist at CRT Capital. 'Logic tells me that, once the program gets under way and people are selling to the Fed, that rates will go lower, significantly so.'
That is the Fed's plan. The Fed last week committed to spending a total of $600 billion in freshly printed money on Treasurys before next June, effectively soaking up all of the new debt issued by the government.
The program of buying Treasurys is designed to keep Treasury yields low, thereby stimulating the economy and pushing investors into riskier assets such as stocks and corporate bonds. That's part of the Fed's state goal of fighting deflation.
The New York Fed will begin buying on Friday with purchases of $6 billion to $8 billion, according to a schedule released by the central bank on Wednesday. By Dec. 9 it plans to have bought about $105 billion in Treasurys, including a handful of Treasury Inflation-Protected Securities, or TIPS.
Having such a big, unflinching buyer in the market should keep prices high and yields low.
But the opposite has been happening lately. A Treasury auction of $16 billion in new 30-year bonds on Wednesday was poorly received, with the government having to pay a slightly higher yield than expected to attract buyers.
The 30-year Treasury bond's price has fallen nearly 12% since Aug. 26, just before Fed Chairman Ben Bernanke hinted at QE2 in a speech at Jackson Hole, Wyo. Its yield has jumped to 4.239% from 3.53% in that time, and at one point on Wednesday surged to the highest since May.
And Treasurys have weakened despite fresh fears about European sovereign debt, which in the past has been a boon to safe-haven U.S. government debt.
The weakness in the 30-year bond is not terribly surprising. The Fed has said it won't buy much 30-year debt. It stuck by that commitment in Wednesday's schedule, dedicating just about 4% of its purchasing power to longer-dated bonds.
Still, the 10-year Treasury note, which will get much more Fed attention, has suffered, too. Since Aug. 26, the 10-year note yield has risen to 2.657% from 2.50%.
The 10-year yield is of more practical importance to the Fed, given its influence on mortgage rates and other borrowing costs.
Some argue that the rising interest rates are a sign that the Fed may be doing too much and that inflation will come more quickly than it wants.
'Credibility is essential for a central bank to achieve its goals, and it appears the interpretation of the Fed's intentions has already rendered such activity ineffective,' Russ Certo, co-head of rates trading at Gleacher & Co., said in a note, 'and this is before it has even started.'
Tuesday, November 9, 2010
Ethnic Fighting Rocks Kosovo Town
Troops of the North Atlantic Treaty Organization (NATO) and European police have increased patrols in and around Kosovo's volatile northern town of Mitrovica, after at least six people were injured in clashes between Serbs and ethnic Albanians late Friday. Police officials say explosions also destroyed cars and properties.
A tense calm returned to Kosovo's second largest and most ethnically divided town of Mitrovica, where since late Friday about half a dozen people, including fire fighters, were wounded in clashes between Serbs and ethnic Albanians.
There were violent protests followed by two huge explosions that rocked Mitrovica, destroying cars and damaging properties. Police and fire fighters rushed to the scene as the first blast destroyed at least seven cars near a bar in the town's Serb district. Security officials said Serbs then set two Albanian shops alight.
But as a fire brigade arrived to put out these blazes, a second explosive device apparently detonated, hampering efforts to secure the area.
Troops of the Western military alliance NATO and European Union police stepped up their presence around Mitrovica, and armoured vehicles were seen patrolling the streets.
The latest clashes came after a Serb teenager was reportedly hurt by two knife-wielding Albanians on Tuesday, who were later detained. That incident prompted hundreds of Serbs to burn down several Albanian shops and to damage cars with Kosovo license plates.
Observers say the latest violence also reflects deep rooted divisions between the Serb minority of 120,000 people, and the two-million strong ethnic Albanian community of Kosovo.
Serbs are angry that Kosovo's government declared the territory independent from neighboring Serbia, last year. Kosovo's secession in February occurred nearly a decade after NATO bombings ended a Serbian military crackdown on independence seeking ethnic Albanians.
Friday's fighting underscored Western concern that Mitrovica will become once again a major flashpoint of ethnic fighting, and attacks against Western peacekeepers. The town was already the scene of deadly clashes in March between Serbs and international forces.
A tense calm returned to Kosovo's second largest and most ethnically divided town of Mitrovica, where since late Friday about half a dozen people, including fire fighters, were wounded in clashes between Serbs and ethnic Albanians.
There were violent protests followed by two huge explosions that rocked Mitrovica, destroying cars and damaging properties. Police and fire fighters rushed to the scene as the first blast destroyed at least seven cars near a bar in the town's Serb district. Security officials said Serbs then set two Albanian shops alight.
But as a fire brigade arrived to put out these blazes, a second explosive device apparently detonated, hampering efforts to secure the area.
Troops of the Western military alliance NATO and European Union police stepped up their presence around Mitrovica, and armoured vehicles were seen patrolling the streets.
The latest clashes came after a Serb teenager was reportedly hurt by two knife-wielding Albanians on Tuesday, who were later detained. That incident prompted hundreds of Serbs to burn down several Albanian shops and to damage cars with Kosovo license plates.
Observers say the latest violence also reflects deep rooted divisions between the Serb minority of 120,000 people, and the two-million strong ethnic Albanian community of Kosovo.
Serbs are angry that Kosovo's government declared the territory independent from neighboring Serbia, last year. Kosovo's secession in February occurred nearly a decade after NATO bombings ended a Serbian military crackdown on independence seeking ethnic Albanians.
Friday's fighting underscored Western concern that Mitrovica will become once again a major flashpoint of ethnic fighting, and attacks against Western peacekeepers. The town was already the scene of deadly clashes in March between Serbs and international forces.
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