Another Earthquake: Chile

Another Earthquake has struck, this time in Chile:

A massive magnitude 8.8 earthquake rocked Chile early Saturday, the U.S. Geological Survey said, killing at least 147 people and triggering tsunami warnings for the entire Pacific basin.

I'll post if there is an update on the tsunami...Tragic though.

Scott Brown: Renegade Senator

Scott Brown is being vilified by his fellow republicans for voting for the Jobs Bill. Here's what one critic had to say:

"I've taken three votes," Brown said with exasperation. "And to say I've sold out any particular party or interest group, I think, is certainly unfair."

Brown has responded:

"I've taken three votes," Brown said with exasperation. "And to say I've sold out any particular party or interest group, I think, is certainly unfair."

He's getting skewered by conservatives for this, but I personally didn't expect him to continue to crusade on what he was elected on. He's making decisions based on what he promised; to help Massachusetts. I think he's doing a very good job right now.

ObamaCare Gaining Momentum

Someone watch this and explain it to me, I can't understand anything right now.

Rain Down: Floods in Madeira

The Island has been rocked by flash floods:

The Portuguese government meanwhile has declared three days of mourning after at least 42 people died in the floods.

Crews continues to try and clear things up:

Specialist army teams are working to get through to communities that remain cut off, with roads blocked and bridges collapsed.
Military personnel and civilian emergency teams have been clearing huge piles of rocks from roads and pumping mud and water out of shops and houses.

While people have been told to evacuate:

Dozens of people in Madeira have been ordered to evacuate their homes, amid fears of fresh landslides following deadly floods on the island.

It's not a very good situation on the Portuguese Island.

Credit Crunch

The new laws on credit go into effect on Monday. The Houston Chronicle highlights the changes.

Payment Timing:

Credit card companies must send you a statement at least 21 days before the payment due date. And under the newly effective portions of the law, when payments are for more than the minimum amount due, the additional money must be applied first to the highest-rate balance.

Payment Protection:

The new law requires credit card companies to process payments on the same day they are received. Therefore, payments are considered on time if they are received on the due date or the following day if the company was closed on the due date. This also extends to payments made on or before the due date at a local branch.

Double Billing:

It's no longer legal for credit card companies to charge interest twice on the same balance by collecting finance charges on current and previous balances.

Rate Increases:

redit card promotional rates must be for at least six months. In general, rates on existing balances cannot be raised unless your payment is more than 60 days late.

If you are more than 60 days late and your interest rate goes up as a result, you can get the original rate restored if you make six consecutive months of on-time payments.

Card issuers can raise rates on new balances, but they now must give you 45 days notice, an increase from 15 days.

If you decline to accept the rate hike, you will no longer be able to use the card to make new purchases. You will have to pay off the balance on the card at the old rate and apply for a new card when it's paid off.

Credit Limits:

Credit issuers can no longer automatically enroll you in over-the-limit protection programs that charge fees for letting you borrow more than you have been approved to borrow.

So when a purchase exceeds your credit limit, your card will be declined. As embarrassing as that may be while you are standing at a cash register, it might keep you from spending more with a credit card than you can afford to pay back.

Credit card issuers do have the option of letting you borrow more than your credit limit in exchange for a fee, but the new law only allows them to charge only one over-the-limit fee in a billing cycle.

If you choose to use this option, you need to know how much you'll have to pay for that service. It won't come cheap.

Seems like most of these are to protect the consumer.

What's Goin' Down at the U

I picked up the Daily this morning, and this article was on the cover. Here's the main point of the article:

University officials are worried that Michigan’s shrinking population could result in fewer in-state students applying to and enrolling in the University down the road.

My question, and the question I'd given some thought to prior to this article was what makes Michigan great? How does the ratio of in state to out of state students affect the Michigan Experience?

As an out of state student, I feel that most out of state students who decide to go to Michigan are very passionate about the school. They could have gone elsewhere, but they chose to attend Michigan because they love Michigan. However, there has to be something that attracts these students to Michigan. It's not like out of state students and in state students separate themselves. It's quite the opposite in fact. Michigan probably has one of the most integrated campuses for a public school in the country.

Part of that might be the ratio. The in state students who hate State and grew up despising OSU bring something to the University that out of state students can't really feel until they arrive on campus. They were born and bred Michigan. They bring spirit, they bring passion, and they bring Michigan. However, a common argument is that they bring down the overall quality of the student body.

Michigan isn't the hardest school to get into, but I think part of that has to do with the fact that the in state applicant pool is self-selective. This means that there's less in state applicants, but they are of higher quality. Additionally, I think Michigan is the type of school that if you're not prepared for, you will be notified real fast. It's an academic powerhouse beyond everything else and it doesn't stop at admissions. The whole undergraduate experience is a beast.

So no, I don't think in state students bring down the caliber of the students, nor do I sit on a golden pedestal as an out of state student. I wonder how changing the ratio between the two types of students would change the Michigan Experience, but then I realize, I don't want to know. Michigan is great because of the ratio and what each side brings to the table. While I'm sure the ratio will shift as the state population changes, I know that this will be because admissions will need to maintain the quality of the student body. Regardless, Michigan will continue being an academic powerhouse, building people of high character.

More Toyota Trouble

Toyota faces more trouble as they might have to recall their Corolla

2010 has not been a good year for the world's leading automaker. The prospect of the Corolla having a recall as well could kill sales this year, and the company will have to do a lot to regain the consumer's trust. Here's the problem with the Corolla:

U.S. safety regulators will launch a formal investigation of steering complaints in certain newer model Toyota Motor Corp (7203.T) Corolla vehicles, a government official familiar with the plan said on Wednesday.

The National Highway Traffic Safety Administration has received more than 150 complaints about possible steering problems in 2009 and 2010 Corolla models, the official said, speaking anonymously because the plan has not been announced.

It will be interesting to see how Toyota responds to these problems. They initially reacted pretty poorly, and it doesn't look like there will be significant improvement. I expect Honda, Federal Motors, or Ford to capitalize on Toyota's mishaps.

Obama Goes Nuclear

Here's what the President had to say:

"Investing in nuclear energy remains a necessary step," the president said. "And what I hope is that this announcement underscores both our seriousness in meeting the energy challenge—and our willingness to look at this challenge not as a partisan issue, but as a matter far more important than politics."

I'm very excited about this development.

Terrorists Don't Want Peace

India's External Affairs Minister, SM Krishna, had this to say about the Pune blast:

It seems that peace talks are vital to stability in the region or else war might seem like a more realistic resort.

Tragedy In Brussels

Two trains collided head on in a suburb of the Belgian capital:

Here are some details:

Rescue crews had to deal with freezing temperatures and blizzard conditions when the crash happened about 0830 local time (0730 GMT) on Monday, near Halle, on the outskirts of Brussels.

The front carriages smashed into each other and were forced up into the air, damaging overhead power lines.

As of Monday evening, officials said 15 men and three women had been killed.

A truly tragic event, and I hope they find out what exactly went wrong.

The Big House Or The Bank House

I'm sure a lot of people are excited about the new renovations at Michigan Stadium. It was an investment to the stadium and into the program, and while people may think it was a costly expenditure, it appears that it will pay major dividends:

Parker says 58 of the 81 suites are spoken for and 47 of them have been paid in full, adding he's confident the other 11 will be soon. Suites range in price from $55,000 to $85,000 and include 16 tickets, parking and a three-, five- or seven-year pledge.

Parker says the school has commitments for 2,822 of its 3,685 club seats that cost between $1,500 to $4,000 per seat plus the cost of tickets.

It's not just about the revenue that the University will gain from the suites, but also the ability to court potential alums and other donors to give money to the school. Michigan is a public school, but most of its funds are private. We rely heavily on our alumni to support the school.

Issue of the Year: Healthcare

All we've heard for the past few months is healthcare, healthcare, healthcare. Well, we've actually heard it for over a year, since the Democratic primaries and debates. Does anyone know exactly what they trying to pass in terms of a bill?

To be honest, I didn't really know what was in the bill until I read up on it. It doesn't sound bad. Unfortunately, it comes at a time when we have bigger issues, and I believe these bigger issues should be taken care of. However, the current administration feels this is THE important issue and will continue to fight for this bill.

At the same time, they are willing to make compromises:

Vice President Joe Biden says the White House is ready and willing to listen to health care ideas from Republicans.

President Barack Obama has invited members of both parties to the White House for a televised meeting on Feb. 25 in hopes of reaching a deal on health care.

Obama's top domestic priority has stalled since Democrats lost their filibuster-proof Senate majority.

Biden says the keys are to control rising insurance premiums, control government spending on Medicare and Medicare and address insurance coverage issues.

Part of me wants this bill just to pass so that we can deal with real issues like the economy.

Time Running Out in Iran?

Hangover: Alabama Shooting

We have more information on the Alabama shooting:

On Saturday, the story took an odd twist when Braintree, Mass., Police Chief Paul Frazier announced that Bishop had shot and killed her brother in December 1986 after an argument. The police report of the incident could not be found, but the officer who wrote it up recalled that Bishop was arrested after fleeing the scene with a shotgun, Frazier said in a statement.

And a motive:

But Bishop was apparently not happy with the school: In recent months, she had been denied a tenured faculty position, said college spokesman Ray Garner. Dick Reeves, chairman of a company that plans to market one of Bishop's innovations, said she was upset by the slight.

Still no reason to kill another person.

We Are The World

You can download the song here, proceeds go to relief efforts in Haiti.