Friday, 25 May 2012

What Romney Should Do About Immigration - NYTimes.com

Earlier this month, asked about Mitt Romney?s immigration policy, Bettina Inclan, the director of Hispanic outreach for the Republican National Committee, stumbled into the remark that ?he?s still deciding what his position on immigration is.??While the campaign distanced itself from the gaffe immediately, the comment was actually good advice, even if unintentional.

During a lengthy primary season, Romney?s effective use of base politics on immigration was a key part of his victory, especially in snuffing out Rick Perry?s potential ascent. But after those strategic attacks, which included Romney?s awkward ?self-deportation? plan for illegal aliens, Romney must execute a creative pivot to the middle to attract moderate voters, especially Hispanic moderates. In an election that looks to be razor-close, how effectively Romney recaptures turf in the immigration debate could decide swing states like Nevada, Colorado and Virginia. Looking longer-term, a President Romney would have to find a solution to the immigration issue ??a social crisis that has eluded political consensus for two decades ? if he wanted to save his party from slow-fuse political suicide.

The immigration wars since 9/11 have left Republicans searching for a formula that allows candidates to survive litmus tests from the right ? they must oppose any legalization for lawbreakers ? while at the same time heeding the calls from party strategists and business interests to make our wildly outdated immigration policies reflect the realities of the modern international world.

Romney dedicated much of the speech he gave to the Latino Coalition earlier this week to education, but here are five policy announcements ? of varying degrees of political controversy ? that Romney should wrap into a high-minded address on immigration and competitiveness that would capture the middle ground. While the details are important, the tone would be, too ? most Americans are weary of bombastic talk radio rhetoric on this issue and are looking for thoughtful, bold leadership.

High-skilled immigration: Romney has already endorsed proposals that would allow more highly skilled scientists to enter the United States under temporary visas and to allow foreign students educated here to receive green cards to allow them to stay here and work. However, these proposals have been blocked in Congress by proponents of a broad amnesty that is a non-starter with most Congressional Republicans. Romney should demand passage of the high-skilled agenda before the graduation of the class of 2013 next spring produces another crop of international leaders, educated here in America, needlessly forced to return home to compete against us. If you graduate with an engineering degree from Stanford, we should staple a green card to your diploma.

Temporary travel: President Obama has seized travel as a means to create jobs in the service sector. He released a national strategy to cut visa wait times and endorsed an expanded list of countries from which tourists and business travelers can come to the United States without a full-fledged visa interview. Romney should build on these goals by promising to expand access to the United States to job creators by allowing visa interviews by videoconference and creating fast-track consideration for businessmen and women looking to purchase American goods, attend American trade shows, or purchase American medical services.

?Good Neighbor? visa: Romney opposes the Democratic version of the Dream Act, which would provide legal status and citizenship to those who arrived in the United States as children. What he needs to find instead is a class of immigrants whose continuing contributions to society are worth protecting. He should propose a new visa category of unlimited duration that allows ?good neighbors? to remain in the United States without gaining any special advantage over those who have obeyed the law while seeking to become citizens. This ?good neighbors? group would include individuals with a clean criminal record working in the military, in law enforcement, or as a first responder, people who are running businesses with at least 10 employees, or serving as clergy members or teachers. Hundreds of thousands of our neighbors in this ?white hat? group are viewed sympathetically by all but the fringes of the American electorate. This would allow Romney to base his immigration policy on a person?s good behavior and contributions to society, rather than the circumstances of his or her arrival. Even those seeking a broader amnesty might see some merit in showing Americans the benefits of recognizing the contributions of immigrants who broke the rules to get here.

Enforcement: Romney has pretty much endorsed a kitchen sink approach to enforcement, but budget realities may complicate his ability to make major additional investments.?It is clear that the most cost effective enforcement activity is to concentrate on criminal aliens via the Secure Communities fingerprint program and to implement new employer enforcement checks under the E-Verify program (in tandem with the Good Neighbor program). Even as President Obama has increased deportations, the undeniable truth is that mandating workplace checks is the only effective long-term approach to turning off the jobs magnet attracting illegal labor to this country.

?American Dream? constitutional amendment: The antiquated provision of the Constitution that requires the president to be born on American soil should be repealed. In becoming the first Western democracy to elect a racial minority to the highest office in the land in 2008, the United States once again demonstrated its ?melting pot? quality to the world.?Allowing any United States citizen, no matter where he or she was physically born, to run for president would send a similar signal that Americans care most about a person?s ideas and character, not race and origin. This goal would also put an appropriate and necessary end to the distraction of the Obama ?birther? debate that has captured a sliver of the far right?s attention ? most Republicans and moderate voters would embrace this ?American Dream? proposal as a way to demonstrate their support of legal immigrants.

Wrapping these five policy announcements into a broader speech about how the United States needs the best talent possible to compete internationally would mesh well with Romney?s broader economic game plan.?More urgently, it would reposition Romney for the general election fight by showing a different attitude on immigration and diversity issues. Getting out in front of the issue would also allow him to escape the current legislative debate over fine print of the Dream Act.

To be sure, wading into the immigration battle brings risk of attack from the right and from members of Congress who can coast to re-election in safe districts without worrying about demographic changes that affect national elections.?However, unless Romney chooses to unveil a new immigration policy, the election returns coming in from states like Nevada, Colorado and Virginia on Nov. 6 may make this the first presidential election where the immigration issue denied the Republicans a victory well within their grasp.

C. Stewart Verdery Jr. served as lead immigration adviser for the 2008 presidential campaign of Rudolph W. Giuliani and was assistant secretary for policy at the Department of Homeland Security from 2003-2005.

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Can a Volcano’s Past Predict Its Future?

No one can forecast exactly when the next big volcanic eruption is going to happen. But research examining a volcano?s history might someday help scientists predict when the next one could blow its top.

In a new study in Science, Kate Saunders from the University of Bristol and her team used a collection of more than 300 orthopyroxene crystal samples that date to the 1980 to 1986 eruptions of Mount St. Helens. The layers or "zones" of the crystals?produced by the interaction of magma, rock, and gas inside a volcano?grow in something like concentric circles (think tree rings). Because the researchers could chemically distinguish the division between one zone and another, they were able to estimate how long it took for each zone to form. "Elements move between one zone and another to maintain equilibrium," Saunders says, "and we know how fast elements move in different crystals, so we can work out how long it took them to reach equilibrium."

This kind of "zoning" occurs because of changes in pressure, temperature, and water content in the volcano?s magma. The upshot is that, depending on the kind of elements found within each zone, the team got a sense of what forces were at play inside the volcano as the zone was made.

By studying St. Helens, for instance, Saunders and colleagues pieced together that increases in seismic activity cause these kinds of crystals to crank up their growth. When magma pulses into a chamber where crystals are already forming, the crystals develop iron-rich cores and magnesium-rich rims. On the other hand, crystals already stuck inside the magma as it enters a new chamber could cool off, causing exactly the opposite kind of zoning?magnesium-rich cores and iron-rich rims.

False color image of zoned crystals used in analysis of Mount St. Helens' 1980 eruption. Credit: Kate Saunders.

Today most techniques for monitoring volcanoes are focused on obvious signs, such as small earthquakes and gas releases. Researchers have analyzed crystals before, but this study is one of the first to use those chemical markers to put a time stamp on each zone within the crystal. Connecting crystal formation with a specific time frame could have implications for predicting the next big eruption.

Only not directly, says Daniel Morgan, a professor of volcanology and petrology at the University of Leeds. "It?s still tricky," he says. "Obviously if you?re looking at crystals from erupted volcanoes it?s not going to be a predictive tool." And there?s currently no safe or practical way of taking crystal samples from inside an active volcano. "But now we can start seeing things like the heartbeat or the pulse of a volcano," Morgan says.

By understanding what conditions led to a past eruption, scientists may be able to calculate what phase comes next in the volcano?s life cycle. "We can use these techniques at every volcano, even if they aren?t monitored now," Saunders says. "We can examine the rocks and understand what happened in the past. If it reawakens, we will have a better idea of what to anticipate."

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MediciNova asthma drug fails trial; shares crash

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Thursday, 24 May 2012

PST: QBR's Barton suspended, very suspended

Joey Barton needs a good shaking. Or something.

But since we?re an evolved species, and since Barton isn?t a little toddler throwing a temper tantrum ? ahem, we?re all thinking the same thing, so let?s just move on ? we don?t do those kinds of things.

So instead of a good shaking, or a right proper spanking, even, the English FA has banned the naughty boy from Queens Park Rangers for 12 matches.

He?s also been fined ?75,000 (about $117,000) for being soccer?s version of the unstable Michael Douglas character from Falling Down.

Barton was sent off from QPR?s loss to Manchester City on the final EPL match day for clashing tin Carlos Tevez. In the ensuing maelstrom of mayhem, Barton kicked City?s Sergio Aguero and attempted to head butt Vincent Kompany.

As my Twitter buddy Abram Chamberlain (@MindOfAbram) said: If I?m QPR, I?m seeing if I can sell Joey Barton to a League 1 side for ?17, some scones and a cup of Earl Grey.

Well said, indeed.

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Crow Canyon CC Danville CA Real Estate April 2012 Update ...

Crow Canyon CC Danville CA Real Estate April 2012 Update Homes For Sale Crow Canyon CC Danville CA May 23, 2012 | Homes for Sale in San Ramon, Danville CA, Dublin CA, Pleasanton ?2012 Bay East. ?2012 CCAR. ?2012 EBRD. All rights reserved. Information deemed reliable but not guaranteed. This information is provided from three separate sources: Bay East, CCAR and EBRD. The listings presented here may or may not be listed by the Broker/Agent operating this website. Information last updated on 5/24/12 6:25 AM PDT.

This IDX solution is (c) Diverse Solutions 2012.

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Enhance Website Traffic Utilizing Link Building | WordNice free nice ...

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Pr Announcements Make A Large Amount Of One Way Links

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Wednesday, 23 May 2012

Dreamy Facebook IPO becoming a?nightmare

Beck Diefenbach / REUTERS

The sun rises behind the entrance sign to Facebook headquarters in Menlo Park, Calif.

By Roland Jones

The hotly-anticipated Facebook IPO was supposed to be a watershed moment in social media and one of the biggest stock offerings to ever hit Wall Street.

Instead, the event is turning out to be a major humiliation for Facebook, its underwriters and the Nasdaq Stock Market, where Facebook listed its shares.

Critics say the underwriting banks set the price of the offering too high and sold too many shares to the public, and the IPO debacle is raising broader questions from regulators about the IPO process, according to news reports Wednesday.

In the latest blow to the company, three shareholders filed a lawsuit against Facebook Wednesday, saying its chief executive Mark Zuckerberg and several banks led by Morgan Stanley omitted?or misrepresented material information?about?the?social networking leader?s business ahead of its IPO. The lawsuit seeks class-action status for all Facebook shareholders, except the defendants.

A Facebook spokesperson said the lawsuit is without merit and the company plans to fight it ?vigorously.?

Capitol Hill is also focused on the company. The Senate Banking Committee said Wednesday it is investigating issues related to Facebook?s IPO. The development comes one day after the top financial regulator, the Securities and Exchange Commission, said it would be looking into the company?s IPO. Facebook also faces a lawsuit from an investor from California.

Shares of the newly-public company have reflected investor confusion over the offering. Instead of the usual first-day ?pop? seen in most high-tech IPOs, they have pulled back since they began trading on Friday. Since hitting an intra-day high of $45 a share on Friday the company's stock price has fallen 31 percent to close Tuesday at $31, although the company's share price saw a small rebound Wednesday.

An IPO that wobbles in its debut isn?t necessarily a bad sign, as many new public companies -- such as Amazon.com -- have started out poorly and gone on to be top performers. But the share price tumult is suggestive of a botched and disorderly IPO process, experts say.

Despite the first-day trading debacle, Facebook?s IPO has succeeded in raising $16 billion for the company and some of its early investors, and it has valued the company at just over $100 billion.

But the offering -- the largest ever for a U.S. Internet company -- has left many individual investors who bought into the company on Friday with paper losses.

Two days after Facebook entered the public markets for the first time, details are emerging about the machinations behind its offering.

According to a Reuters report, just days before Facebook went public, analysts at Morgan Stanley and other underwriting firms started advising clients to rein in their expectations for the company?s growth.

Related: Zuckerberg, banks sued over Facebook IPO

As institutional investors worked to digest the developments, Morgan Stanley tried to set the price and size of the stock offering, The New York Times reported, noting that, while some big institutions scaled back on their plans, others placed large orders and retail investors clamored to buy shares of the tech icon.

Eventually, Facebook and Morgan Stanley decided there was enough demand and interest in the IPO to justify an offering price of $38 a share, even as other bankers involved in the deal pushed back, concerned about the company?s growth prospects, particularly in the mobile space, the Times reported.

Facebook?s Chief Financial Officer David Ebersman, who worked closely on every aspect of the IPO with Morgan Stanley?s co-head of global technology banking Michael Grimes, was instrumental in deciding to increase the number of shares Facebook would offer in the IPO by 25 percent, according to The Wall Street Journal.

In the end, given the muted reception to the IPO, the $38 a share offering price -- and the increased allocation of shares -- may have neutralized any first-day price jumps, which are seen by Wall Street banks as the trademark of a successful IPO.

?They misjudged what the real demand was,? Quinten Stevens, chief investment officer at Stevens Asset Management, told CNBC, referring to the underwriting banks on the deal.

Stevens noted that, given the hype surrounding the IPO and the fact that the offering was so heavily oversubscribed, it would have been very difficult to accurately gauge demand from investors. Once an IPO loses momentum in the first hours and days of trading, it ?turns to the downside and becomes a busted IPO,? he added.

Anindya Ghose, an associate professor at NYU?s Stern School of Business, reckons the bankers pricing the deal overestimated the company?s projected revenue growth rate. With a more modest outlook for future revenue growth, he reckons Facebook shares would be worth a price ?in the mid to upper 20s? -- closer to the first estimate of $28 the company gave investors.

Indeed, a handful of Wall Street estimates analyzed and modeled by Thomson Reuters StarMine finds that Facebook would be more fairly priced at just below $10. The analysis projects an annualized earnings growth over the next 10 years of 10.8 percent, almost exactly the mean for the technology sector and far below the 24 percent growth rate implied by the current stock price.

Related: Still hope for Facebook, despite poor start

?Investors are looking for much more growth than the analysts covering the company,? said Greg Harrison, corporate earnings research analyst at Thomson Reuters.

Worries about Facebook?s growth prospects emerged in early May when the company disclosed potential challenges in a regulatory filing. Of greatest concern was the increasing use of Facebook on mobile devices -- a realm where the company is not making much money from ads.

Top financial regulators said on Tuesday the issues around the Facebook IPO should be reviewed. One area of concern, according to reports, could be the disclosure of lower growth forecasts to certain big institutional investors, which may leave both Facebook and Morgan Stanley open to accusations of selective disclosure.

?I think there is a lot of reason to have confidence in our markets and in the integrity of how they operate, but there are issues that we need to look at specifically with respect to Facebook,? Securities and Exchange Commission Chairman Mary Schapiro told reporters Tuesday as she exited a Senate Banking Committee hearing.

The SEC is also investigating setbacks following a technology glitch on the Nasdaq exchange.

Meanwhile, Massachusetts state securities regulators have already issued a subpoena to Morgan Stanley seeking information about its analysts' discussions with investors about Facebook.

Reuters contributed to this report.

Shayndi Raice, The Wall Street Journal, weighs in on the Facebook IPO debacle.

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