The probability isn't that high, but the possibility of a third candidate for the premiership after the July 3 Thailand election can't be totally ruled out.
Pheu Thai is poised to beat the Democrats. That's almost a foregone conclusion. The margin of victory will decide whether the next prime minister is a woman or a man.
The difference between the number of seats won by the two major parties will also decide whether a third person can steal the show from Yingluck Shinawatra or Abhisit Vejjajiva.
The number of combined seats that the third, fourth and fifth parties can garner will also determine the shape of the new coalition government and the person who will lead the line-up.
If Newin Chidchob's Bhum Jai Thai, Banharn Silpa-archa's Chart Thai Pattana and Suwat Liptapanlop's Pattana Pheu Pandin manage to win over 100 seats in the 500-member House, the political landscape could assume a dramatic change from the prevailing predicated line-up.
Thaksin's Pheu Thai Party has publicly rejected Newin's party in any future coalition. That means Bhum Jai Thai will be stuck with the Democrats in any fight to form the next government.
Newin's bargaining power will depend largely on whether he can win the 60-70 seats that he claims he can muster. Most polls so far have suggested that he would count himself lucky to be able to retain 40 seats. The recent assassination of one of his main canvassers in the heart of Bangkok - a prelude to intensified campaign-related violence - could have a significant negative impact on his party's chances.
Pheu Thai and Bhum Jai Thai are engaged in hand-to-hand combat in several northeastern constituencies. If Newin cannot manage to win at least 50 seats, his earlier braggadocio that "Neither Pheu Thai nor the Democrats can form the next government without us" would sound hollow indeed.
Banharn's Chart Thai Pattana may be fourth in the expected ranking in terms of seats won. But it stands a better chance of being drawn into the next coalition, regardless of who wins the most seats. The veteran politician has been humble about his party's prospects in the election. "If we can retain the 30 seats we have, I would consider our target met," he said.
But Banharn isn't just another "party owner". He is not only shrewd but is also manipulative. There is no doubt that he has only one aim in mind: it doesn't matter who heads the next government; Chat Thai Pattana will have to be part of the new line-up. Political ideology and alliance pacts be damned.
And if there were to be a third candidate for the premiership should deadlock ensue following the election, this party could stake a claim to that position in Major General Sanan Kachornprasart, the party's senior adviser, who has played the "reconciliation" card all along.
But hasn't Banharn signed a pact of allegiance with Newin to be bound together in another political move after the election? Of course, that's public knowledge. But that doesn't necessarily mean that Banharn won't find a timely excuse to wriggle out of the gentlemen's agreement which, after all, was never meant to be a serious bond in the first place.
Suwat's party may not win enough seats to enable him to bargain for a large piece of the pie. But he certainly is no less dextrous than Banharn in striking political deals, especially if a political deadlock should materialise, for one reason or another.
The Democrats' chances of winning a simple majority (over 250 seats) are almost certainly out of reach. Unless the Democrats can work out a quick and pre-emptive deal with Newin and Banharn to hammer out a coalition with more than 270 seats, the party's political future is in serious doubt.
And even if that unlikely alliance could be cobbled together, the man to head the Democrat-led coalition may not be Abhisit, who is seen to have worn out his own charisma and effectiveness. The name of the Democrat Party's chief adviser Chuan Leekpai as an alternative has again been raised as a more "acceptable" choice if that scenario should come to pass.
On the other side of the political landscape, if the campaign led by Kaewsan Atipobhi to level perjury charges against Yingluck in Thaksin's assets case picks up momentum, Thaksin may find it more politically feasible to pick a second or third choice to head a Pheu Thai-led government.
But if the election returns don't turn out the way he wants, Thaksin, facing a victory that may be far short of a "landslide" win, may decide to make virtue out of necessity by handing over the premiership to the leader of one of the third parties in the name of "national reconciliation".
After all, if the proposed "amnesty" was to be popularly acceptable, the head of the government that initiates such a move can't be someone so closely linked to Thaksin. In that situation, Yingluck may be "too close" to Thaksin for comfort.
But then, these are merely "possible but not so probable" predictions in case the most likely scenario - a Yingluck-Abhisit fight to head the new government - somehow falls through. With a huge "undecided" vote (30 per cent to 40 per cent of those surveyed by several polls) two weeks from election day, nothing can be ruled out.
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Friday, June 24, 2011
the possibility of a third candidate for the premiership after the July 3 Thailand election
New polls show opposition Pheu Thai leading in Bangkok
Two opinion polls conducted over the past week showed that voters in the capital favoured opposition Pheu Thai's constituency candidates, as well as its prime-ministerial candidate Yingluck Shinawatra over the Democrats and their PM candidate Abhisit Vejjajiva.
However, almost one-third of the respondents kept their choice to themselves, with 20-26 per cent saying they were undecided and about 7 per cent refusing to reveal whom they support.
A survey conducted by Dhurakij Pundit University, in cooperation with the Nation Group, showed that Pheu Thai was leading in 22 of the city's 33 constituencies, the Democrats have outright support in six, while it is a neck-and-neck competition in the remaining five constituencies. The Democrats are leading with a 5-percentage-point margin in the capital's Constituencies 1, 2, 10, 22, 27 and 32, while the competition is very close in Constituencies 4, 5, 7, 16 and 19.
When asked whom they would vote for as prime minister, 47 per cent of the respondents favoured Yingluck, 39 per cent backed Abhisit, 7 per cent picked Rak Santi Party leader Purachai Piumsomboon and 4 per cent opted for Rak Prathet Thai leader Chuwit Kamolvisit. The remaining 3 per cent wanted other politicians for the post.
The survey also found that 26 per cent of the respondents were undecided, while 6 per cent said they would keep their options open.
A survey conducted by Bangkok University also showed the Pheu Thai Party leading in terms of popularity, party-list candidates as well as the prime ministerial contender.
In this poll, 37.9 per cent of the respondents said they would opt for Pheu Thai candidates, 22.2 per cent Democrat candidates and 1.2 per cent said they would go for politicians under the Rak Santi banner.
However, as many as 22.1 per cent of the respondents said they were still undecided, 7.6 per cent refused to identify their favourite candidate, while slightly more than 5 per cent said they would tick the "no vote" box in their ballot papers.
When asked to name their favourite political party, 38.3 per cent of the respondents chose Pheu Thai, 21.6 per cent the Democrat Party, 3.4 per cent opted for Rak Thailand and 1.6 per cent backed Rak Santi.
The latest poll was conducted between June 16 and 22 on 3,338 eligible voters in all of Bangkok's 50 districts.
This was done through face-to-face interviews, with the respondents being asked to answer questionnaires.
Of the respondents, 47.2 per cent said they preferred Yingluck as the next prime minister because they wanted to see a new face running the country, while 28 per cent said they wanted Abhisit to continue with the job.
Meanwhile, the incumbent prime minister said he did not put much weight on the Bangkok University poll, because none of its surveys ever showed Democrats as winners. Other opinion polls, such as those conducted by Abac and Suan Dusit, showed the margin between the two key parties narrowing, he said.
life has a spiritual purpose beyond material goals
Jung's work on himself and his patients convinced him that life has a spiritual purpose beyond material goals. Our main task, he believed, is to discover and fulfill our deep innate potential, much as the acorn contains the potential to become the oak, or the caterpillar to become the butterfly.
Thailand Election : Sonthi Boonyaratglin, Chuvit Kamolvisit, and Sophon Damnui
Colourful characters spice up Thai election - Yahoo! New Zealand News
BANGKOK (AFP) - A charismatic former massage parlour kingpin and a one-time coup general are among the wilder characters wooing voters as elections loom in politically volatile Thailand.
Among the mostly banal images of suited hopefuls on party billboards, a few candidates stand out -- one gripping a panda, a man who appears to be suffering from eye-popping road rage and another with the head of a buffalo.
With the comedy also comes controversy: one poll hopeful was in charge of overthrowing an elected government five years ago in a military coup that eventually led to deadly street protests and a deep rift in society.
The man he ousted from power was Thaksin Shinawatra, whose sister is now the main opposition candidate for prime minister.
Chulalongkorn University political scientist Thitinan Pongsudhirak described the candidacy of General Sonthi Boonyaratglin, a Muslim hoping for votes in the insurgency-plagued deep south, as a "farce for Thai democracy".
Only slightly less controversial is Chuvit Kamolvisit, a businessman who made his fortune with a string of massage parlours and hotels and has admitted to bribing authorities in the past.
Even so he has vowed to fight corruption, a stance some see as surprising given his colourful past.
"I am the insider, I know how to pay. I know how to bribe," he told AFP.
"You see bribery in Thailand is a deeper issue, problem than anyone can think.... everybody likes me. They like the truth, but no one wants to say the truth."
Chuvit -- whose posters show him in odd poses angrily clutching a steering wheel or squeamishly holding a baby -- described the traditional party candidates as "dinosaurs" in uniform or suits.
Former director-general of the Zoological Park Organisation of Thailand Sophon Damnui is trying a different tactic, appearing on posters with a giant panda in an attempt to boost his appeal.
"People ask who they should vote for -- the one with the bald head or the one with the black eyes," the follicly challenged politician said on a recent walkabout at a Bangkok zoo to showcase his environmental credentials.
The July 3 election is mainly a fight between the incumbent Democrats and the Puea Thai party, allied to fugitive ex-leader Thaksin, who was ousted in 2006 and lives abroad to avoid a jail term for corruption.
But these parties represent the two sides of a damaging split in Thai society and analysts say some voters will be searching for alternatives.
Political analyst and author Chris Baker said there were "people who are rather fed up of the recent politics" and wanted to cast their vote in a "non-standard way".
Puea Thai has pulled ahead in the voter opinion polls, but may still have to form a coalition with smaller parties to be able to govern.
It remains to be seen whether Yingluck Shinawatra, Thaksin's younger sister and the Puea Thai candidate for prime minister, would be willing to join forces with the general who removed her brother from power.
The most bizarre posters of all aim to persuade people not to vote for any party by portraying politicians with the heads of various different animals, an image Thitinan said was "very offensive" in Thailand.
Amish and Rumspringa tradition
After being made to work the land from the age of three, you can't blame these young teenagers for enjoying a bit of time off.
Five Amish youngsters have been filmed leaving their sheltered community in the U.S. for the first time to spend four weeks in Britain.The teenagers were in Britain as part of an Amish tradition called rumspringa - meaning 'running around' - in which they are given the chance to see the wider world for a year before being baptised into the church when they turn 16.
This enables them to do things which are usually forbidden, such as wearing non-traditional clothing, using electricity, driving cars, watching television and even drinking and smoking with people from outside their community.
Cameras followed the group praying with their families before they left, travelling on a plane for the first time, seeing the bright lights of London - the first capital city they had ever been to - and heading to the beach with a rock band.
Thursday, June 23, 2011
Lytro focus : the camera allowing you to change the focus
Have you ever taken a picture that would have been great if only it were in focus? Of course you have. So have we, countless times. But those days may soon be past all of us with the introduction of Lytro, an entirely new kind of camera that allows users to completely change the focus of a picture after the shutter clicks. And, according to AllThingsD, this next-generation camera will be available before the end of the year.
The secret behind the Lytro camera is a new type of sensor that gathers much more information about the light coming into the camera than the sensors found on all other types of digital cameras. Rather than record a finite amount of information about the light in a photograph, as is the case with other camera sensors, the Lytro sensor records the entire “light field,” which is made up of “all the light rays in a scene,” according to the Lytro website. This includes the color, intensity and direction of the rays of light. Other cameras simply record all the light as a single amount of light.
Thailand Monarchy tension
Thailand's monarchy, for decades presented as the glue that has held the country together through turmoil and strife, is described as being disorientated and deeply divided, in secret diplomatic cables revealed yesterday.
While members of the royal family have been projected as having a role above politics, an account based on the cables and published just days away from an election that is likely to plunge the country into fresh turmoil, suggests various key players are actively competing for power and political leverage.
The ailing 83-year-old King Bhumibol Adulyadej, who has long been the focus of speculation about his health, has lost much influence to Queen Sirikit, deemed to have been distant from him for many years and who has indicated support for the opponents of the former prime minister Thaksin Shinawatra. Within the palace walls and beyond, there is deep anxiety over the issue of succession and whether the King's unpopular son, the Crown Prince, or his more popular daughter, will assume the throne when he dies.
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Andrew MacGregor Marshall: Why I decided to jeopardise my career and publish secrets
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Understanding the role and influence of the monarchy is crucial for a proper analysis of Thai society. Yet public consideration of these issues is all but impossible for Thais. Strict defamation laws prohibit any discussion of the monarchy that is deemed harmful.
The law, increasingly used to clamp down on dissidents and political opponents, carries a jail sentence of 15 years. The media is often threatened and is obliged to self-censor. It was against this backdrop Andrew MacGregor Marshall, the journalist who has written an account based on US diplomatic cables initially obtained by Wiki-Leaks, resigned from a news agency in order to publish it. Mr Marshall claims his employer, Reuters, declined to, knowing the problems in store.
Reuters said in a statement: "Reuters didn't publish this story as we didn't think it worked in the format in which it was delivered. We had questions regarding length, sourcing, objectivity, and legal issues. Also, we were concerned the writer wasn't participating in the normal editing process that would apply to any story Reuters publishes."
A spokesman for the US State Department, meanwhile, declined to "comment on materials, including classified documents, which may have been leaked", or on their authenticity.
At the centre of the swirling anxiety Marshall details is King Bhumibol, the world's longest-reigning living monarch. Confined to hospital for much of the past two years, the King has widespread respect from the public. The same cannot be said for all those around him. "It is hard to overestimate the political impact of the uncertainty surrounding the inevitable succession crisis which will be touched off once King Bhumibol passes," the then US ambassador Eric John is recorded as saying in a confidential July 2009 briefing for Secretary of State Hillary Clinton.
"Over the past year, nearly every politician and analyst, when speaking privately and candidly, regardless of political affiliation or coloured perspective, has identified succession as the principal political challenge facing Thailand today."
The person due to succeed the King is Crown Prince Maha Vajiralongkorn, a thrice-married playboy with a reputation for a lively temperament. One US dispatch suggests: "Crown Prince Vajiralongkorn neither commands the respect nor displays the charisma of his beloved father, who has greatly expanded the prestige and influence of the monarchy during his 62-year-reign."
Many within the royal establishment have worked hard to air-brush the image of the Prince. His mother, Queen Sirikit, is reported as telling an audience in the US in 1981, that her son was something of a "Don Juan ... women find him interesting and he finds women even more interesting".
But in 2007, a video emerged which seemed to show the Prince and his third wife, Princess Srirasmi, in an intimate poolside dinner celebrating the birthday of his beloved white pet poodle, Foo Foo. "A disturbing video of the Crown Prince and his wife is in wide circulation here," alleges one of the US dispatches, apparently sent to Washington. "The wife is wearing nothing but a G-string and a smile as she lights the birthday candles . The video shows servants waiting on the tables and the flash of photographs being taken. According to a number of contacts, this is being passed around on DVD, both in Bangkok and in the provinces; the tawdry incident has provoked more (but whispered) criticism of the CP."
One cable notes unsubstantiated speculation that the Crown Prince has a medical condition. It says the Prince spends much of his time in Germany, his third wife lives in a Bangkok palace and that when he flies to Thailand he stays in a "retrofitted Air Force VIP lounge" at Don Maung Airport.
Marshall says many Thais would prefer the throne to pass to Princess Maha Chakri Sirindhorn. According to a 2005 cable attributed to then ambassador Ralph "Skip" Boyce, the diplomat had discussed the importance of family with the King, at a function. "At one point in the conversation, the King stopped and gestured towards Princess Sirindhorn," says the cable. "The King quietly said, 'I have four children. But she is the only one who sits on the ground with the people. She never married but she has millions of children'."
This narrative of a divided monarchy has emerged just days before Thailand goes to the polls on 3 July. Opinion polls suggest that Pheu Thai (PT), a party financed and led by Thaksin Shinawatra, with his younger sister, Yingluck, as its prime ministerial candidate, are well ahead of incumbent premier Abhisit Vejjajiva and his Democrat party. One poll has given PT a 13-point lead.
Many wonder whether a victorious PT will be allowed to take power. The establishment, which includes elements of the royal court and the army, are deeply opposed to Mr Thaksin and it was conservative forces that pushed the army to carry out a coup to oust him in 2006. Two of his allies, who subsequently served as prime minister, were forced from office amid claims they acted unconstitutionally.
King Bhumibol has been projected as an apolitical figure who intervened in the world of politics only rarely, and then for the good of the nation. In 1992, the King placed himself in the middle of a stand-off between the military rulers and activists, supported by many students, to avoid further bloodshed. Sometimes, Thais refer to influence of the palace or the Privy Council, made up of 19 advisers, as the "hidden hands".
But the last couple of years have seen a more direct role taken by the palace, or more precisely by Queen Sirikit. In October 2008, after a "yellow shirt" demonstrator protesting against the pro-Thaksin government was killed in clashes, the Queen took the unprecedented decision to attend the funeral. The conservative yellow shirts, also known as the People's Alliance for Democracy (PAD), seized on this.
"Queen Sirikit, departing from the example set by King Bhumibol over decades, has dragged an ostensibly apolitical monarchy into the political fray, to the institution's probable future detriment," alleges another cable apparently written by Eric John. "...Such politicisation of the monarchy at this time appears to create extra uncertainty around the eventual royal succession and it could well boomerang."
The cables also mention her relationship with both the Crown Prince and Princess Sirindhorn. While previously close to the Prince, that relationship may have chilled. The Queen may be looking to position herself in the aftermath of the King's death, some analysts believe, as a possible regent. The Crown Prince was himself previously close to Mr Thaksin. "There are multiple circles of players and influence surrounding the Thai royal family, often times with little overlap but with competing agendas, fuelled by years of physical separation and vacillating relationships between the principals," Mr John appears to have written in a 2009 cable.
In a statement, Kitti Wasinondh, Thailand's ambassador to London, said: "We are not in a position to comment on the working method of the US embassy in Thailand, or on the authenticity and accuracy of the documents, of which the content was apparently based on an individual's personal assessment, subjective analysis, partial secondary quotation, assumption and speculation rather than facts. It must be emphasised Thailand is a constitutional monarchy, which is above partisan politics. In recent years, attempts have been made by certain groups involved in the political conflict to draw the monarchy into the political fray for their own political gains. Such attempts should not be given any credence."
Brian Rex is the pen name of a journalist who writes for 'The Independent'
Extracts from the embassy cables
"It is hard to overestimate the political impact of the uncertainty surrounding the inevitable succession crisis which will be touched off once King Bhumibol passes."
July 2009
"Crown Prince Vajiralongkorn neither commands the respect nor displays the charisma of his beloved father, who has greatly expanded the prestige and influence of the monarchy during his 62-year-reign."
July 2009
"Queen Sirikit, departing from the example set by King Bhumibol over decades, has dragged an ostensibly apolitical monarchy into the political fray, to the institution's probable future detriment."
November 2008
"There are in fact multiple circles of players and influence surrounding the Thai royal family, often times with little overlap but with competing agendas, fuelled by years of physical separation and vacillating relationships between the principals."
November 2009
Pheu Thai Party marginally ahead of the Democrats
The latest opinion poll has suggested a tight finish in the party-list election with the Pheu Thai Party marginally ahead of the Democrats.
According to the findings of the Abac Poll, Pheu Thai would bag 55 seats while the Democrats would win 49 out of the 125 seats in the party-list system.
The Bhumjaithai Party would win eight seats while Chart Pattana Puea Pandin would get four.
The remaining nine seats would be split among smaller parties, particularly Rak Thailand, Rak Santi, Matubhum and Chartthaipattana. The findings of the survey which focused on the party-list contest came from 5,349 respondents in 28 provinces in all regions from June 1-21.
Based on the survey, if the election was to be held today, it would see a turnout of 76.2%, or about 36 million people. About 47.3 million people are eligible to vote.
Also based on the survey, it can be estimated that about 70%, or some 25 million people had decided which party to vote for, compared with 10.8 million undecided voters.
Of the estimated 36 million voters who intended to cast their ballots, about 5% would not cast their votes for any political party.
Abac Poll director Noppadon Kannika said it was likely that undecided voters would be the crucial factor in the end.
"It depends on them _ on how they reflect on the political situation," Mr Noppadon said. "Will they make decisions based on the information of the past few months or go further back to the days when the country was in ruins from political chaos?"
Yingluck's husband Anusorn Amornchatr is ready to come under scrutiny
Yingluck Shinawatra's husband, Anusorn Amornchatr, says it's normal for a public figure to come under scrutiny.
"But everybody has a family. Anyone making accusations against our family would have to think how they would feel if they were subjected to such thing," the low-profile businessman told reporters yesterday when he made a rare appearance to celebrate his wife's 44th birthday anniversary with their son, Supasek ("Pipe").
Anusorn said Yingluck is a "super-active" woman and she would have to learn how to be more patient now that she has entered politics.
"As a politician, she will have to come under scrutiny. There is no problem with that," he said.
The public, no doubt, will expect to know more about Anusorn's life from now on. He says he is ready for it.
Girl power in Thai polls #Yingluck #Thailand Election
Thailand's fractious politics have largely been an all-male affair, but with more women contesting seats in the kingdom's July 3 election, Thais are facing the prospect of a female prime minister for the first time in their history.
One of the female candidates is Pheu Thai party's Yingluck Shinawatra, sister of former Thai leader Thaksin Shinawatra.
Another female runner is Wipawan Woraputthipong, a Democrat MP candidate.
"We (the Democrats) are looking to clarify [what happened last year]," Ms Wipawan said.
A military crackdown last year on the "red shirts" at a rally in Bangkok's Ratchaprasong intersection had left 91 people dead.
"On June 23, I am confident that the prime minister will tell the truth, so that people understand. Once they understand [what happened], differences will ease," she said.
But it is unlikely Prime Minister Abhisit Vejjajiva will convince his detractors in Chiang Mai.
All around the city, Democrat election posters with his face have been vandalised.
Meanwhile, almost certain of victory, is first-time Pheu Thai candidate Thassanee Buranupakorn.
But she said she isn't taking any chances.
Like Ms Yingluck, Ms Thassanee has little political experience.
But she's a hometown girl whose family, like Ms Yingluck's, is well known in political circles.
"If the majority of people vote for Pheu Thai on July 3, I hope everyone will follow the voice of the people and give Pheu Thai an opportunity to form a government," Ms Thassanee said.
If Pheu Thai forms a government, Ms Yingluck could be the next and first female premier.
And it appears many in Chiang Mai welcome a woman taking up Thailand's top job.
A Muslim woman vendor said: "I would like a female prime minister. There are so many competent women out there.
"Right now, the economy is not so good. If Pheu Thai wins and forms a government, they can help vendors like me".
Said one Thai man: "Our country's in chaos right now and we need to make some changes. The situation may stay the same with the same male leaders.
"With a woman in the leadership role, there could be change for the better. She might be treated with more respect as opposed to a male politician".
Women can't keep breast implants for life: FDA
- Yahoo! News
Women who get silicone breast implants are likely to need additional surgery within 10 years to address complications such as rupturing of the device, U.S. health regulators said on Wednesday.
The Food and Drug Administration will work to revise safety labels for silicone breast implants after reviewing data from several long-term studies, which also showed that the products had a small link to a rare form of cancer.
The agency said the studies overall confirmed its decision that implants can be used safely, but noted the conclusions could be limited because some women dropped out.
"The key point is that breast implants are not lifetime devices," said Jeff Shuren, director of the FDA's Center for Devices and Radiological Health. "The longer you have the implant, the more likely you are to have complications."
There were almost 400,000 breast enlargement or reconstruction procedures in the United States in 2010, according to the American Society of Plastic Surgeons. That includes silicone and saline implants.
Up to 70 percent of all women who received surgery due to disease or trauma, and up to 40 percent of those getting an enlargement procedure using silicone, needed another operation within 10 years, post-approval studies showed.
The FDA approved silicone gel-filled breast implants sold by Allergan and Johnson & Johnson's Mentor unit in 2006. It had banned silicone implants for most U.S. women in 1992 after some complained that the devices leaked and made them chronically ill.
As a condition of taking the devices to market, both companies were required to conduct post-approval studies of 40,000 women for 10 years, as well as extend smaller pre-approval studies. The FDA considered the companies' results, as well as reports of negative events and scientific literature.
LOCALIZED COMPLICATIONS
Based on the data, the FDA said most common complications were localized, such as the hardening of the breast area around the implant, rupture or deflation of it, and the need for additional surgeries.
Other local complications include implant wrinkling, asymmetry, scarring, pain, and infection at the incision site.
The report also found a small correlation between implants and anaplastic large-cell lymphoma, a form of cancer that affects about 3,000 Americans a year.
From 1997 to 2010, there were about 60 cases of ALCL reported for women worldwide out of about 5 million to 10 million women who had breast implants, Shuren said.
"If there's a true association between that cancer and implants, it's very, very rare," he said.
The FDA said most long-term studies confirmed initial results, and that most risks of implants were well known.
"Most women reported high levels of satisfaction with their body image and the shape, feel and size of their implants," the FDA report said, adding that they should monitor their breasts for the rest of their lives.
The agency also cautioned that post-approval study data could be limited because of the low response rates.
In the large 10-year studies of 80,000 women, Allergan has collected preliminary two-year data for 60 percent of participants, while Mentor has collected three-year data for only 21 percent.
Diane Zuckerman, president of the advocacy group National Research Center for Women & Families, said the high dropout rates meant the study was not accurate.
"So many of the women dropped out before the research was completed that it is impossible to say what percentage of women need additional surgery or have health problems five or 10 years after getting breast implants," she said.
"This raises questions about FDA's reliance on studies required after a product is approved," she added.
Allergan shares were down 0.9 percent at $82.04 on the New York Stock Exchange, while Johnson & Johnson dipped 0.2 percent to $66.36.
Medicaid for the middle class?
President Barack Obama's health care law would let several million middle-class people get nearly free insurance meant for the poor, a twist government number crunchers say they discovered only after the complex bill was signed.
The change would affect early retirees: A married couple could have an annual income of about $64,000 and still get Medicaid, said officials who make long-range cost estimates for the Health and Human Services department.
After initially downplaying any concern, the Obama administration said late Tuesday it would look for a fix.
Up to 3 million more people could qualify for Medicaid in 2014 as a result of the anomaly. That's because, in a major change from today, most of their Social Security benefits would no longer be counted as income for determining eligibility. It might be compared to allowing middle-class people to qualify for food stamps.
Medicare chief actuary Richard Foster says the situation keeps him up at night.
"I don't generally comment on the pros or cons of policy, but that just doesn't make sense," Foster said during a question-and-answer session at a recent professional society meeting.
"This is a situation that got no attention at all," added Foster. "And even now, as I raise the issue with various policymakers, people are not rushing to say ... we need to do something about this."
Administration officials said Tuesday they now see the problem. "We are concerned that, as a matter of law, some middle-income Americans may be receiving coverage through Medicaid, which is meant to serve only the neediest Americans," said Health and Human Services spokesman Richard Sorian. "We are exploring options to address this issue."
Nelson Mandela and Batik
| Mrs Obama and Mandela |
Meeting: Michelle Obama and daughters Malia and Sasha met with Nelson Mandela at his home in Johannesburg
The First Lady wore a a silk shantung coral suit by Narcisso Rodriguez for her visit to Nelson Mandela. And did you know that Mandela was wearing? BATIK :)
Read more: http://www.dailymail.co.uk/news/article-2006299/Michelle-Obama-girls-meet-Nelson-Mandela--wives-current-South-African-President.html#ixzz1Pzb7Kn5QWhat I saw in the picture, Nelson Mandela wore Batik, an Indonesian traditional fabric. I think Mandela likes batik very much.- ichaview, Indonesia, 21/6/2011 20:04
Wednesday, June 22, 2011
Invest like Warren Buffett
Warren Buffett is the world's third richest man with an estimated fortune of over $52bn.
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| Expert investor: Warren Buffett |
But unlike the other billionaires that feature in Forbes' list of the 10 richest people in the world, Buffett doesn't have a retail empire, an oil well or a brain for computing to show for it – simply a lot of share certificates.
The 76-year-old made his money through identifying companies that he believed were worth more than their market value, investing in them and holding that investment for the long-term. And it's certainly paid off.
Class A shares in his company Berkshire Hathaway were $15 when he first took over in 1965 – today they are valued at $109,800 per share.
It sounds remarkably simple, but given the ups and downs of the stock market, it takes a high level of discipline, nerve and conviction in your decisions. Although Buffett has never written a book detailing his investment style, much can be gleaned from the annual letter he sends to Berkshire shareholders.
He doesn't view the purchase of shares in a company as buying a stake in that business, but believes that the investor should feel that they are actually buying that business outright. Because of that he looks for quality management, a durable competitive edge and low capital expenditure.
Companies tend to have a strong brand name – Coca Cola, McDonalds and Gillette feature in his holdings – and a good history of solid earnings growth. We run through how Buffett invests his money.
'Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.'
Value investing
'It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.'
The basic premise of Buffett's investing style is buying something for less than it's actually worth. This sounds simple enough, but unearthing these stocks and prove difficult and it's easy to mistake a company that is unloved by the market because nobody has spotted its opportunity with one that is simply a dog. For that reason, Buffett applies some of the measures that are listed below.
Strong profitability
'If a business does well, the stock eventually follows.'
Buffett prefers to invest in companies with a proven level of strong profitability, giving more credence to this than what analysts predict will happen in the future. He looks at a number of measures to assess a business's profitability, including return on equity (ROE), return on invested capital (ROIC) and a company's profit margin.
ROE is a measure of the rate at which shareholders are earning income on their shares and Buffett uses this measure to see how well a company is performing compared to other businesses operating in the same sector. You can calculate the ROE by dividing the company's net income by the shareholder's equity. It is believed that Buffett prefers a company that has an ROE in excess of 15%. He also looks for companies with above average profit margins, which can be calculated by dividing net income by net sales. The higher the ratio, the more profitable the company based on its level of sales.
Not too much in debt
'Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.'
However, a company with a high ROE could be being fuelled by substantial levels of debt, which Buffett is keen to avoid. For this reason he also takes into accounted the ROIC. This helps take debt out of the equation by adding it back to the shareholder equity before doing the calculation. This can be calculated by dividing a company's total liabilities by its shareholder equity – the higher the ratio, the higher the level of debt the company is using to fuel its growth.
He doesn't like over-indebted companies, as he says each year in his Berkshire Hathaway letters, because they could become vulnerable in a credit squeeze or when interest rates are rising, as they have been doing recently.
Understanding the business
'Risk comes from not knowing what you're doing.'
Buffett will only invest in businesses he can understand and analyse, rejecting those that operate in complicated markets or where he is unsure of their operating model. He describes this as his 'circle of competence'. He has largely ignored the technology sector because he claims not to fully understand their business, but prefers retailing, food and insurance stocks.
Strong management
'It's better to hang out with people better than you, ... Pick out associates whose behaviour is better than yours and you'll drift in that direction.'
Buffett places great emphasis on the quality of a company's management. According to Robert Hagstrom, author of 'The Warren Buffett Way', he asks three questions of a company's management team – are they rational, do they admit to mistakes and do they resist the institutional imperative? He takes a dim view of management teams that simply follow the crowd, copying the lead of competitors. He also likes companies to have been floated for a 10-year period before investing, but says he never interferes with the running of a company.
The 'Moat'
'Your premium brand had better be delivering something special, or it's not going to get the business.'
Buffett coined the phrase 'moat' to refer to the competitive advantage or unique proposition that gives a business protection against their competitors. He says those businesses that have a wider moat will offer more protection to the main core business, which he refers to as the castle. This could be geographical, entry costs, a strong brand name or owning a particular patent. Buffett tends to pick companies that offer strong brand names, even though there is a lot of competition in their particular markets. Examples include MacDonalds, Coca-Cola and Gillette.
Moats are important to investors because if a business develops a successful product it is likely to be aped by competitors. How effecitively it can survive is largely determined by how its product differs from the others in the market and why consumers will keep coming back.
Long-term hold
'Our favourite holding period is forever.'
When Buffett buys a stock he buys it with the view of holding it for life. He holds a number of permanent stocks in his portfolio, including Coca-Cola, GEICO and Washington Post, which he claims he'll not sell even if they appear to be significantly overpriced. This approach has led to accusations that his portfolio has a number of 'tired' stocks in it, but Buffett thinks investors are too quick to buy and sell.
Don't rush
'You do things when the opportunities come along. I've had periods in my life when I've had a bundle of ideas come along, and I've had long dry spells. If I get an idea next week, I'll do something. If not, I won't do a damn thing.'
Boredom can cause rash buying decisions, forcing the investor to buy stock at the wrong time. Buffett has proved to be a master at the waiting game, preferring to sit on his cash rather than buy into a company just for the sake of it. He understands markets rise and fall and would prefer to wait until he feels a stock is cheap enough to buy. Buffett says investors would be better off if they could only invest a limited number of times, so they would make sure they were making the right investment.
Five mistakes made by investors (and their advisers)
Top five investment mistakes:
1. Over confidence
This is the most obvious error an investor can make. For evidence of the impact, you need only look at the recent sorry episode of the credit crunch. The greatest minds in the Square Mile and on Wall Street believed they had invented a new risk-free way of trading debt to generate colossal profits. It was, of course, total nonsense and taxpayers picked up the cost and global recession followed. But this over-confidence is not a new phenomenon. Countless financial disasters have occurred as a result of over-excited men in suits believing 'this time it's different'.
Over-confidence is prevalent. Blake points to research that asked FTSE 100 management teams to grade their performance; they all put themselves in the top 25%.
How it will affect you: Misplaced self-belief can wreak havoc with your portfolio. One example is that you will look at past investment calls and put a shrewd stock selection or fund exit timing down to your superior skills. It is more likely that you simply got lucky. Keep your achievements in perspective.
2. Doing too much
Goalkeepers are told that if they stand still for a penalty kick, statistically, they have a 33% chance of saving it; but only 6% stand still. Why? Because, egged on by the crowd, they can't be seen to be doing nothing.
IFAs want to be seen to be doing something. Small investors making their own calls can also fall victim to this 'activity bias'.
How it will affect you: The costly manifestation of this is trading too much and trying to call the market by entering and exiting too frequently. You can miss rallies and share dealing always incur charges, pushing up your overall costs.
3. Selling winning investments and holding losers
It is all too easy to forget your original reasons for investing and the promises you made to yourself about the risks you would take. It is the so-called 'loss aversion', a distortion that means investors are happy to take big risks when they face a loss but lose their nerve when they're in profit. Vanguard's Blake says: 'Clients become more risk averse when a stock rises and want to lock-in the gain, so they sell early.'
How it will affect you: This will take large chunks out of the potential profits, unless you control it. So how do you do that? Fight the compulsion to 'get back to break even' – veterans of the dotcom wipeout in the Noughties will tell that it may never happen. And keep sight of your original reasons for investing: do they still apply?
4. Home bias
Traditionally, IFAs recommended sticking it what you know best. So they encouraged investors to put most of your money into UK investments.
But the best performing emerging markets have left developed economies in the shade in recent years. And prospects for some of these economies are, arguably, far better than for our own: low government and consumer debts and favourable demographics in stark contrast to our own bulging borrowings and ageing population.
But remember that emerging markets have, historically, been volatile. You may also want to consider backing other developed market economies. Japan, for example, is sometimes suggested as an opportunity because its market trades very cheaply – although commentators have been predicting the sun to rise in Japan for more than a decade.
Behavioural finance warns investors to be aware of their own 'home bias'.
How it will affect you: The mainsteam advice was to hold at least 50% of your money in UK investments. That may be still right for some. The good news is that this isn't a sub-conscious decision. Most fund platforms offer a tool that will crunch your portfolio and show a geographical spread of your money. This will help you have a discussion with your adviser to at a sensible allocation that suits your attitude to risk. Blake says: 'Advisers should caution clients that familiarity is not a substitute for a good spread of investments.'
5. Other biases: 'Anchoring', 'familiarity' and more
A bias based on geography is not the only mistake you should watch out for. 'Anchoring' is investors linking decisions to irrelevant factors, such as round index levels: 'I'll sell when the FTSE 100 gets to 6000.'
A common mistake is to buy shares based on superficial evidence. An example would be to buy M&S shares because you like their clothes, but without drawing on any other information.
A similar error is to make knee-jerk decision based on scant evidence – known as 'availability evidence – such as selling Japanese investments immediately after the tsunami struck. 'Conservatism bias' can also creep in, where decision-making is based on out-dated wisdom and information. The solution is to keep on gathering and processing as much information as possible before making decisions.
George Papandreou survived a confidence vote
The top news headlines on current events from Yahoo! News
Greek Prime Minister George Papandreou survived a confidence vote in parliament early Wednesday, winning a gamble on his government's survival and the danger of a devastating debt default that could spark a financial maelstrom around the world
Antam Dividend 2011
PT Antam (Persero) Tbk - Antam To Distribute Dividend Of The Net Profit Of 2010 Of Rp673.4 Billion Or Rp70.71 Per Share
PT ANTAM (Persero) Tbk (Antam) (IDX-ANTM; ASX-ATM) is pleased to announce it has held its Annual General Meeting of Shareholders (AGM) today at the JW Marriott Hotel, Jakarta.
Antam’s shareholders approved the Annual Report of the Board of Directors, including the Audited Financial Statements and the Oversight Report of the Board of Commissioners for the year ended December 31st, 2010. Antam’s shareholders also approved the Annual Report of the Partnership and Community Development Program for the year ended December 31st, 2010.
MAN ROBS BANK for $1
This shows how pathetic our society is....
